2023 Q1 Form 10-K Financial Statement

#000168285223000011 Filed on February 24, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $1.862B $5.084B $19.26B
YoY Change -69.3% -29.5% 4.29%
Cost Of Revenue $792.0M $1.918B $5.416B
YoY Change -22.12% 101.47% 106.95%
Gross Profit $1.070B $3.166B $13.85B
YoY Change -78.81% -49.42% -12.66%
Gross Profit Margin 57.47% 62.27% 71.88%
Selling, General & Admin $305.0M $375.0M $1.132B
YoY Change 13.81% 86.57% 99.65%
% of Gross Profit 28.5% 11.84% 8.18%
Research & Development $1.131B $1.211B $3.295B
YoY Change 104.15% 86.88% 65.49%
% of Gross Profit 105.7% 38.25% 23.8%
Depreciation & Amortization $78.00M $80.00M $348.0M
YoY Change -1.27% 2.56% 50.0%
% of Gross Profit 7.29% 2.53% 2.51%
Operating Expenses $1.131B $1.586B $3.295B
YoY Change 104.15% 86.81% 65.49%
Operating Profit -$366.0M $1.580B $9.420B
YoY Change -108.66% -70.79% -29.15%
Interest Expense $65.00M $75.00M $151.0M
YoY Change 2066.67% 15000.0%
% of Operating Profit 4.75% 1.6%
Other Income/Expense, Net -$48.00M $0.00 -$45.00M
YoY Change 269.23% 55.17%
Pretax Income -$305.0M $1.655B $9.575B
YoY Change -107.21% -69.41% -27.93%
Income Tax -$384.0M $190.0M $1.213B
% Of Pretax Income 11.48% 12.67%
Net Earnings $79.00M $1.465B $8.362B
YoY Change -97.84% -69.91% -31.47%
Net Earnings / Revenue 4.24% 28.82% 43.41%
Basic Earnings Per Share $0.20 $21.26
Diluted Earnings Per Share $0.19 $3.60 $20.12
COMMON SHARES
Basic Shares Outstanding 386.3M shares 384.2M shares 394.0M shares
Diluted Shares Outstanding 405.0M shares 416.0M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.923B $9.902B $9.902B
YoY Change -11.78% -7.69% -7.69%
Cash & Equivalents $3.441B $3.205B $3.205B
Short-Term Investments $5.482B $6.697B $6.697B
Other Short-Term Assets $64.00M $65.00M $916.0M
YoY Change 77.78% 132.14% 50.91%
Inventory $732.0M $949.0M $949.0M
Prepaid Expenses
Receivables $1.113B $1.385B $1.385B
Other Receivables $408.0M $243.0M $279.0M
Total Short-Term Assets $12.12B $13.43B $13.43B
YoY Change -25.86% -16.43% -16.43%
LONG-TERM ASSETS
Property, Plant & Equipment $2.135B $2.139B $2.139B
YoY Change 44.94% 54.66% 54.66%
Goodwill $52.00M $0.00
YoY Change
Intangibles
YoY Change
Long-Term Investments $83.00M $8.318B $8.318B
YoY Change -99.09% 21.55% 21.55%
Other Assets $1.164B $988.0M $1.970B
YoY Change 1319.51% 2805.88% 429.57%
Total Long-Term Assets $12.00B $12.43B $12.43B
YoY Change 6.61% 44.53% 44.53%
TOTAL ASSETS
Total Short-Term Assets $12.12B $13.43B $13.43B
Total Long-Term Assets $12.00B $12.43B $12.43B
Total Assets $24.13B $25.86B $25.86B
YoY Change -12.62% 4.82% 4.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $389.0M $487.0M $487.0M
YoY Change 95.48% 61.26% 61.26%
Accrued Expenses $1.613B $2.101B $2.136B
YoY Change 0.31% 42.73% 40.71%
Deferred Revenue $1.219B $2.038B
YoY Change -78.23% -67.41%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $153.0M $161.0M $161.0M
YoY Change -4.38% -2.42% -2.42%
Total Short-Term Liabilities $3.499B $4.923B $4.923B
YoY Change -62.12% -46.07% -46.07%
LONG-TERM LIABILITIES
Long-Term Debt $831.0M $912.0M $912.0M
YoY Change 28.64% 52.25% 52.25%
Other Long-Term Liabilities $163.0M $135.0M $900.0M
YoY Change 79.12% 77.63% 12.92%
Total Long-Term Liabilities $163.0M $135.0M $1.812B
YoY Change 79.12% 77.63% 29.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.499B $4.923B $4.923B
Total Long-Term Liabilities $163.0M $135.0M $1.812B
Total Liabilities $5.262B $6.735B $6.735B
YoY Change -50.05% -36.0% -36.0%
SHAREHOLDERS EQUITY
Retained Earnings $18.40B $18.32B
YoY Change 35.14% 83.97%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.86B $19.12B $19.12B
YoY Change
Total Liabilities & Shareholders Equity $24.13B $25.86B $25.86B
YoY Change -12.62% 4.82% 4.82%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $79.00M $1.465B $8.362B
YoY Change -97.84% -69.91% -31.47%
Depreciation, Depletion And Amortization $78.00M $80.00M $348.0M
YoY Change -1.27% 2.56% 50.0%
Cash From Operating Activities -$1.225B $1.662B $4.981B
YoY Change -144.34% -49.79% -63.43%
INVESTING ACTIVITIES
Capital Expenditures $113.0M $92.00M $400.0M
YoY Change -14.39% -176.67% 40.85%
Acquisitions $85.00M $0.00
YoY Change
Other Investing Activities $2.124B -$956.0M -$4.776B
YoY Change -156.06% -6.09% -42.03%
Cash From Investing Activities $2.011B -$1.048B -$5.176B
YoY Change -151.29% -7.91% -39.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.329B
YoY Change 288.45%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$542.0M -438.0M -$3.448B
YoY Change -15.58% -49.83% 294.96%
NET CHANGE
Cash From Operating Activities -$1.225B 1.662B $4.981B
Cash From Investing Activities $2.011B -1.048B -$5.176B
Cash From Financing Activities -$542.0M -438.0M -$3.448B
Net Change In Cash $244.0M 176.0M -$3.643B
YoY Change -113.56% -86.45% -186.25%
FREE CASH FLOW
Cash From Operating Activities -$1.225B $1.662B $4.981B
Capital Expenditures $113.0M $92.00M $400.0M
Free Cash Flow -$1.338B $1.570B $4.581B
YoY Change -150.86% -54.23% -65.65%

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We have made estimates and judgments affecting the amounts reported in our consolidated financial statements and the accompanying notes. We base our estimates on historical experience and various relevant assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods that are not readily apparent from other sources. Significant estimates relied upon in preparing these financial statements include, but are not limited to, critical accounting policies or estimates related to revenue recognition, income taxes, valuation of deferred tax assets, inventory valuation, firm purchase commitment liabilities, fair value of financial instruments, derivative financial instruments, leases, useful lives of property, plant and equipment, research and development expense, and stock-based compensation. The actual results that we experience may differ materially from our estimates.
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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that subject us to significant concentrations of credit risk consist primarily of cash equivalents, restricted cash, marketable securities, and accounts receivable. Our investment portfolio comprises money market funds and marketable debt securities, including U.S. Treasury securities, debt securities of U.S. government agencies and corporate entities and commercial paper. Our cash management and investment policy limits investment instruments to investment-grade securities with the objective to preserve capital and to maintain liquidity until the funds can be used in business operations. Bank accounts in the United States are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. Our primary operating accounts significantly exceed the FDIC limits. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are also subject to credit risk from our accounts receivable related to our product sales and collaborators. We sell our products primarily to U.S. Government, other international governments and organizations. We do not require collateral or other security to support accounts receivable. To date, we have not experienced any losses with respect to the collection of our accounts receivable.</span></div>
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PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
2018000000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
1241000000 usd
CY2022 dei Auditor Firm
AuditorFirmId
42

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
mrna-20221231_pre.xml Edgar Link unprocessable
0001682852-23-000011-index-headers.html Edgar Link pending
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0001682852-23-000011.txt Edgar Link pending
0001682852-23-000011-xbrl.zip Edgar Link pending
exhibit1011-amendedandrest.htm Edgar Link pending
exhibit1016-arpaofferletter.htm Edgar Link pending
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mrna-20221231_htm.xml Edgar Link completed
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