Moderna advertising spend, FY2025

Moderna (MRNA) reported $133M of advertising expense for the fiscal year ended Dec 31, 2025. That is 6.8% of revenue of $1.9B. Down 8.9% from FY2024.

Ad spend, FY2025
$133M
year ended Dec 31, 2025
Change vs prior year
-8.9%
vs FY2024
Share of revenue
6.8%
of $1.9B revenue
Rank by ad spend
#280
of 336 companies

Key facts

  • Ad spend is 1.1x its FY2022 level ($121M), faster than revenue (0.1x).
  • The highest year on file is FY2023 at $204M; FY2025 is 35% below it.
  • Largest increase +68.6% in FY2023; largest cut -28.4% in FY2024.
  • Ad spend has fallen 2 years in a row.
  • Moderna spends more on advertising than 17% of the 336 US-listed companies tracked. Its ad-to-revenue ratio is 1.3x the median of 5.2%.

Ad spend by fiscal year

$0 $100M $200M $300M FY2021 (ended 2021-12-31): $0 2021 FY2022 (ended 2022-12-31): $121M 2022 FY2023 (ended 2023-12-31): $204M 2023 FY2024 (ended 2024-12-31): $146M 2024 FY2025 (ended 2025-12-31): $133M 2025 $133M

Ad spend as % of revenue

0% 2% 4% 6% 8% FY2021 (ended 2021-12-31): 0.0% 2021 FY2022 (ended 2022-12-31): 0.6% 2022 FY2023 (ended 2023-12-31): 3.0% 2023 FY2024 (ended 2024-12-31): 4.5% 2024 FY2025 (ended 2025-12-31): 6.8% 2025 6.8%

History

Download CSV
Fiscal year Period end Ad spend YoY Revenue Ad / revenue Tag Filing
FY2025 Dec 31, 2025 $133M -8.9% $1.9B 6.8% AdvertisingExpense 10-K Feb 20, 2026
FY2024 Dec 31, 2024 $146M -28.4% $3.2B 4.5% AdvertisingExpense 10-K Feb 20, 2026
FY2023 Dec 31, 2023 $204M +68.6% $6.8B 3.0% AdvertisingExpense 10-K Feb 20, 2026
FY2022 Dec 31, 2022 $121M n/a $19.3B 0.6% AdvertisingExpense 10-K Feb 21, 2025
FY2021 Dec 31, 2021 $0 n/a $18.5B 0.0% AdvertisingExpense 10-K Feb 23, 2024

A $0 value is what the filing tagged for that year. YoY is not shown next to it.

What the figure is

Advertising costs as disclosed in the annual report (XBRL tag AdvertisingExpense).

Compared with similar spenders

The 6 companies closest to Moderna in latest-year ad spend.

Rank Company Ad spend Ad / revenue YoY Fiscal year
279 Steven Madden $134M 5.3% +31.0% FY2025
280 Moderna $133M 6.8% -8.9% FY2025
281 Penske Automotive Group $133M 0.4% -3.9% FY2025
282 Perrigo $133M 3.1% -1.2% FY2025
283 Helen of Troy $133M 7.4% -1.7% FY2026
284 Upbound Group $132M 2.8% +103.7% FY2025
285 Fiverr International $132M 30.6% +8.2% FY2025

Full ranking of 336 companies · Biggest cuts #35

Questions

How much does Moderna spend on advertising?

Moderna spent $133M on advertising in fiscal 2025, the year ended Dec 31, 2025, according to its 10-K filed Feb 20, 2026.

What percentage of revenue does Moderna spend on advertising?

6.8% of revenue in fiscal 2025 ($133M of $1.9B). The median across the 336 companies tracked is 5.2%.

Is Moderna spending more on advertising?

No. Ad spend fell 8.9% in fiscal 2025 from fiscal 2024. It has fallen 2 years in a row.

How does Moderna rank by advertising spend?

#280 of 336 US-listed companies with $100M or more in ad spend, ranked on each company's latest fiscal year.

What does Moderna's advertising figure include?

Advertising costs as disclosed in the annual report (XBRL tag AdvertisingExpense).

Source

Filing
10-K for FY2025, filed Feb 20, 2026
Accession number
0001682852-26-000033
Company
Moderna, Inc., CIK 1682852, SIC 2836 (Biological Products, (No Diagnostic Substances))
Data
SEC EDGAR XBRL company facts, retrieved Nov 4, 2026. Methodology.
Cite
Moderna advertising spend, FY2021-FY2025. Aleksei Trudov, io.trudov.com, from SEC EDGAR XBRL company facts (latest: 10-K filed Feb 20, 2026), retrieved Nov 4, 2026. https://io.trudov.com/company/moderna/advertising-spend/
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CSV, all years · CSV, all 336 companies