Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Moderna Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net product sales	6,671)	18,435)	17,675)	200)	—)
Cost of sales	(4,693)	(5,416)	(2,617)	(8)	—)
Gross profit	1,978)	13,019)	15,058)	192)	—)
Other revenue	177)	828)	796)	604)	60)
Research and development	(4,845)	(3,295)	(1,991)	(1,370)	(496)
Selling, general and administrative	(1,549)	(1,132)	(567)	(188)	(110)
Income (loss) from operations	(4,239)	9,420)	13,296)	(763)	(546)
Interest income	421)	200)	18)	25)	39)
Gain (loss) on investments	(72)	(20)	1)	1)	—)
Interest expense	(38)	(29)	(18)	(10)	(7)
Other income (expense), net	(14)	4)	(12)	3)	(1)
Other expense, net	(124)	(45)	(29)	(6)	(8)
Income (loss) before income taxes	(3,942)	9,575)	13,285)	(745)	(515)
(Provision for) benefit from income taxes	(772)	(1,213)	(1,083)	(3)	1)
Net income (loss)	(4,714)	8,362)	12,202)	(747)	(514)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Income statement item	Description	The company
Net product sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Moderna Inc. net product sales increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Income (loss) from operations	The net result for the period of deducting operating expenses from operating revenues.	Moderna Inc. income (loss) from operations decreased from 2021 to 2022 and from 2022 to 2023.
Income (loss) before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Moderna Inc. income (loss) before income taxes decreased from 2021 to 2022 and from 2022 to 2023.
Net income (loss)	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Moderna Inc. net income (loss) decreased from 2021 to 2022 and from 2022 to 2023.

Moderna Inc. (NASDAQ:MRNA)

Income Statement