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, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Product sales	18,435)	17,675)	200)	—)	—)
Cost of sales	(5,416)	(2,617)	(8)	—)	—)
Gross profit	13,019)	15,058)	192)	—)	—)
Grant revenue	388)	735)	529)	12)	13)
Collaboration revenue	440)	61)	75)	48)	123)
Research and development	(3,295)	(1,991)	(1,370)	(496)	(454)
Selling, general and administrative	(1,132)	(567)	(188)	(110)	(94)
Income (loss) from operations	9,420)	13,296)	(763)	(546)	(413)
Interest income	200)	18)	25)	39)	27)
Gain (loss) on investments	(20)	1)	1)	—)	—)
Interest expense	(29)	(18)	(10)	(7)	(3)
Other income (expense), net	4)	(12)	3)	(1)	5)
Other income (expense), net	(45)	(29)	(6)	(8)	2)
Income (loss) before income taxes	9,575)	13,285)	(745)	(515)	(384)
(Provision for) benefit from income taxes	(1,213)	(1,083)	(3)	1)	—)
Net income (loss)	8,362)	12,202)	(747)	(514)	(385)
Premium paid on repurchase of preferred stock	—)	—)	—)	—)	(4)
Cumulative preferred stock dividends	—)	—)	—)	—)	(13)
Reconciliation of net income (loss) to net income (loss) attributable to common stockholders	—)	—)	—)	—)	(17)
Net income (loss) attributable to common stockholders	8,362)	12,202)	(747)	(514)	(402)

Based on: 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), 10-K (reporting date: 2018-12-31).

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Income statement item	Description	The company
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. product sales increased from 2020 to 2021 and from 2021 to 2022.
Income (loss) from operations	The net result for the period of deducting operating expenses from operating revenues.	Moderna Inc. income (loss) from operations increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
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 increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
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) increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.

Moderna Inc. (NASDAQ:MRNA)

Income Statement