• Moderna average pre-tax profit margin for 2023 was -10.56%, a 116.76% increase from 2022.
• Moderna average pre-tax profit margin for 2022 was 63.02%, a 17.77% decline from 2021.
• Moderna average pre-tax profit margin for 2021 was 53.51%, a 112.1% increase from 2020.

Pre-tax profit margin can be defined as earnings before taxes as a portion of total revenue.