WHAT YOU NEED TO KNOW:
- Moderna earned $12.2 billion last year compared to a net loss of $747 million in 2020.
- COVID-19 vaccine sales fueled Moderna’s 44% increase in profit in the final quarter of 2021.
- Demand for booster shots is expected to push more growth in 2022.
Moderna earned $12.2 billion in profit in 2021, with the majority of this total coming from its vaccine production.
The sales of the Moderna vaccine Spikevax jumped 44 percent during 2021’s final quarter, raking in $6.9 billion. This number is higher than the $4.81 billion in sales recorded in the year’s third quarter. Earnings per share also came in at $11.29.
“Total revenue was $18.5 billion for the full year 2021, compared to $803 million in 2020,” the company stated in its earnings report released Thursday. “Total revenue increased in 2021, primarily due to commercial sales of the company’s COVID-19 vaccine. Product sales for the full year 2021 were $17.7 billion from sales of 807 million doses of the company’s COVID-19 vaccine.”