For the quarter ending 2026-03-31, MRNA had -$688M decrease in cash & cash equivalents over the period. -$692M in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net loss | -1,343 | -826 | -200 | -825 |
| Stock-based compensation | 104 | 113 | 125 | 130 |
| Depreciation and amortization | 59 | 67 | 52 | 57 |
| Amortization/accretion of investments | 11 | 13 | 17 | 18 |
| Loss on equity investments, net | -2 | -3 | 3 | 0 |
| Other non-cash items | -6 | -27 | -14 | -34 |
| Accounts receivable, net | -114 | -859 | 1,013 | -30 |
| Prepaid expenses and other assets | -54 | -237 | -66 | 196 |
| Inventory | -6 | -179 | 91 | 114 |
| Right-of-use assets, operating leases | -11 | -10 | -9 | -10 |
| Accounts payable | -120 | 22 | 89 | -47 |
| Accrued liabilities | 464 | 194 | 199 | -14 |
| Deferred revenue | 5 | -67 | 40 | 97 |
| Operating lease liabilities | -7 | -6 | -5 | -5 |
| Other liabilities | 26 | 131 | -112 | -58 |
| Net cash used in operating activities | -630 | 930 | -847 | -919 |
| Purchases of marketable securities | 1,348 | 1,547 | 1,162 | 1,295 |
| Proceeds from maturities of marketable securities | 732 | 929 | 1,210 | 1,491 |
| Proceeds from sales of marketable securities | 602 | 609 | 685 | 371 |
| Purchases of property, plant and equipment | 62 | 39 | 33 | 3 |
| Acquisition of business, net of cash acquired | - | 0 | - | - |
| Purchase of intangible asset | 0 | 0 | 0 | 0 |
| Investment in convertible notes and equity securities | - | 0 | - | - |
| Net cash (used in) provided by investing activities | -76 | -48 | 700 | 564 |
| Proceeds from credit facility | - | 600 | - | - |
| Payment of credit facility issuance costs | - | 22 | - | - |
| Proceeds from issuance of common stock through equity plans | 19 | 16 | 2 | 14 |
| Tax payments related to net share settlements on equity awards | 2 | 1 | 0 | 0 |
| Changes in financing lease liabilities | 0 | 12 | 3 | 5 |
| Net cash provided by financing activities | 17 | 581 | -1 | 9 |
| Effect of changes in exchange rates on cash and cash equivalents | 1 | 0 | 2 | 0 |
| Net decrease in cash, cash equivalents and restricted cash | -688 | 1,463 | -147 | -345 |
| Cash, cash equivalents and restricted cash, beginning of year | 2,597 | 1,134 | 1,281 | 1,626 |
| Cash, cash equivalents and restricted cash, end of period | 1,909 | 2,597 | 1,134 | 1,281 |
Moderna, Inc. (MRNA)
Moderna, Inc. (MRNA)