Moderna Reports Drop in Revenue, Driven by Lower COVID-19 Vaccine Sales

The Moderna campus in Norwood, Mass. on Dec. 2, 2020. Joseph Prezioso/AFP via Getty Images

Moderna reported a decline in revenue in the first quarter of 2023 due to lower sales of its COVID-19 vaccines.

Moderna made $1.9 billion in revenue in the first quarter of 2023, down 68 percent from the first quarter of 2022. The bulk of the revenue came from 2022 deferrals.