Moderna, Inc. (MRNA) FY2026 Q1 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-01-01 to 2026-03-31

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Moderna, Inc. cash flow reconciliation, Jan 1, 2026 through Mar 31, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Orange marks positive customer-advance and deferred-revenue changes that add to operating cash in the reconciliation. These are net changes, not gross customer receipts. Negative changes are neutral reconciliation adjustments; they do not by themselves identify cash payments. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Proceeds from issuance of common stock through equity plans → financing reconciliation: $19,000,000.00financing reconciliation → Net cash from financing activities: $17,000,000.00financing reconciliation → Tax payments related to net share settlements on equity awards: $2,000,000.00Proceeds from maturities of marketable securities → investing reconciliation: $732,000,000.00Proceeds from sales of marketable securities → investing reconciliation: $602,000,000.00Net cash used in investing activities → investing reconciliation: $76,000,000.00investing reconciliation → Purchases of marketable securities: $1,348,000,000.00investing reconciliation → Purchases of property, plant and equipment: $62,000,000.00Net cash used in operating activities → operating reconciliation: $630,000,000.00Accrued liabilities → operating reconciliation: $464,000,000.00Accounts receivable, net → operating reconciliation: $114,000,000.00Stock-based compensation → operating reconciliation: $104,000,000.00Depreciation and amortization → operating reconciliation: $59,000,000.00Prepaid expenses and other assets → operating reconciliation: $54,000,000.00Other liabilities → operating reconciliation: $26,000,000.00Right-of-use assets, operating leases → operating reconciliation: $11,000,000.00Inventory → operating reconciliation: $6,000,000.00Other non-cash items → operating reconciliation: $6,000,000.00Deferred revenue → operating reconciliation: $5,000,000.00Loss on equity investments, net → operating reconciliation: $2,000,000.00operating reconciliation → Net loss: $1,343,000,000.00operating reconciliation → Accounts payable: $120,000,000.00operating reconciliation → Amortization/accretion of investments: $11,000,000.00operating reconciliation → Operating lease liabilities: $7,000,000.00Exchange-rate effect → Cash sources and uses: $1,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $2,597,000,000.00Net cash from financing activities → Cash sources and uses: $17,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $1,909,000,000.00Cash sources and uses → Net cash used in investing activities: $76,000,000.00Cash sources and uses → Net cash used in operating activities: $630,000,000.00Right-of-use assets, operating leases: $11,000,000.00Operating lease right-of-use+$11.00 MLoss on equity investments, net: $2,000,000.00Equity-method income, net+$2.00 MAccounts payable: -$120,000,000.00Accounts payable−$120.00 MDepreciation and amortization: $59,000,000.00Other D&A+$59.00 MStock-based compensation: $104,000,000.00Stock-based compensation+$104.00 MAccounts receivable, net: $114,000,000.00Accounts receivable+$114.00 MAccrued liabilities: $464,000,000.00Accrued liabilities+$464.00 MInventory: $6,000,000.00Inventories+$6.00 MOperating lease liabilities: -$7,000,000.00Operating lease liabilities−$7.00 MOther liabilities: $26,000,000.00Other operating liabilities+$26.00 MDeferred revenue: $5,000,000.00Deferred revenue+$5.00 MOther non-cash items: $6,000,000.00Other non-cash items+$6.00 MNet loss: -$1,343,000,000.00Net loss−$1.34 BPrepaid expenses and other assets: $54,000,000.00Prepaid & other assets+$54.00 MAmortization/accretion of investments: -$11,000,000.00Securities accretion, net−$11.00 MNet cash used in operating activities: -$630,000,000.00. Cash required to fund net payments.Operating cash−$630.00 Moperating reconciliation: $1,481,000,000.00Proceeds from issuance of common stock through equity plans: $19,000,000.00Stock plan proceeds+$19.00 MChanges in financing lease liabilities: $0.00Tax payments related to net share settlements on equity awards: -$2,000,000.00Stock-award tax withholding−$2.00 MNet cash from financing activities: $17,000,000.00Financing cash+$17.00 Mfinancing reconciliation: $19,000,000.00Proceeds from sales of marketable securities: $602,000,000.00AFS securities sales+$602.00 MPurchases of property, plant and equipment: -$62,000,000.00PP&E purchases−$62.00 MPurchase of intangible asset: $0.00Purchases of marketable securities: -$1,348,000,000.00AFS securities purchases−$1.35 BProceeds from maturities of marketable securities: $732,000,000.00AFS securities maturities+$732.00 MNet cash used in investing activities: -$76,000,000.00. Cash required to fund net payments.Investing cash−$76.00 Minvesting reconciliation: $1,410,000,000.00Cash sources and uses: $2,615,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $2,597,000,000.00Beginning cash$2.60 BEnding cash: Cash, cash equivalents, and restricted cash: $1,909,000,000.00Ending cash$1.91 BExchange-rate effect: $1,000,000.00FX effect+$1.00 MCASH RECONCILIATIONFinancingflowsInvestingflowsOperatingflowsNet loss −$1.34B + net operating adjustments $713.00M = operating cash −$630.00MFree cash flow−$692.00 MOperating cash − cash spent on PP&ECash flow / Net incomeNot meaningfulOperating cash flow ÷ net incomeNet cash change−$688.00 MEnding cash − beginning cash
Chart details

Moderna, Inc. cash flow reconciliation, Jan 1, 2026 through Mar 31, 2026

Cash flows for Jan 1, 2026 through Mar 31, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2025. Ending cash: Mar 31, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2025
2,597,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
negative 630,000,000 US dollars. Net cash used.
Net loss
negative 1,343,000,000 US dollars
Right-of-use assets, operating leases
11,000,000 US dollars
Loss on equity investments, net
2,000,000 US dollars
Accounts payable
negative 120,000,000 US dollars
Depreciation and amortization
59,000,000 US dollars
Stock-based compensation
104,000,000 US dollars
Accounts receivable, net
114,000,000 US dollars
Accrued liabilities
464,000,000 US dollars
Inventory
6,000,000 US dollars
Operating lease liabilities
negative 7,000,000 US dollars
Other liabilities
26,000,000 US dollars
Deferred revenue
5,000,000 US dollars
Other non-cash items
6,000,000 US dollars
Prepaid expenses and other assets
54,000,000 US dollars
Amortization/accretion of investments
negative 11,000,000 US dollars
Investing activities
negative 76,000,000 US dollars. Net cash used.
Proceeds from sales of marketable securities
602,000,000 US dollars
Purchases of property, plant and equipment
negative 62,000,000 US dollars
Purchase of intangible asset
0 US dollars
Purchases of marketable securities
negative 1,348,000,000 US dollars
Proceeds from maturities of marketable securities
732,000,000 US dollars
Financing activities
17,000,000 US dollars. Net cash provided.
Proceeds from issuance of common stock through equity plans
19,000,000 US dollars
Changes in financing lease liabilities
0 US dollars
Tax payments related to net share settlements on equity awards
negative 2,000,000 US dollars
Operating adjustment reconciliation
1,481,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
19,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
1,410,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
1,000,000 US dollars
Ending cash on Mar 31, 2026
1,909,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
2,615,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 688,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
Not meaningful. Operating cash flow divided by reconciliation net income for the same period. The ratio is not meaningful when net income is zero or negative.
Operating cash flow
negative 630,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
62,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
negative 692,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net loss −$1.34B + net operating adjustments $713.00M = operating cash −$630.00M. The loss reduces the earnings basis of the reconciliation; it is not a cash payment. The signed loss remains a deduction at the operating reconciliation junction.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: negative 630,000,000 US dollars minus 62,000,000 US dollars equals negative 692,000,000 US dollars.
Moderna, Inc. (MRNA) FY2026 Q1 Statement of Cash Flows Sankey chart
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