In 2024, Moderna faced financial challenges including $739 million in cost of sales for the fourth quarter, which factored in $193 million in inventory write-downs, $259 million in production wind-down costs, and a $238 million charge from a cancelled contract. The company's total revenue for 2024 was $3.2 billion, a 72% decrease from the previous year. Moderna is working to resize its production footprint to meet post-pandemic needs and has struggled to accurately gauge vaccine demand in the current market. Moderna anticipates revenue between $1.5 billion and $2.5 billion in 2025.

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