Moderna (NASDAQ:MRNA) released its 2023 product sales figures, which exceeded analysts' expectations.

The biotechnology company reported unaudited product sales of about $6.7 billion for the year, surpassing the consensus forecast of $6.38 billion. A significant development for Moderna was the increase in its U.S. market share for COVID-19 vaccines, which climbed to 48% in 2023, up from 37% the previous year.

Looking ahead, Moderna maintained its forecast for product sales of around $4 billion in 2024, with an aim to return to sales growth in 2025. The company is targeting a break-even point in 2026, which it plans to achieve through a mix of new product launches and judicious investment strategies.

Further underscoring its ongoing innovation, Moderna pointed to nine late-stage programs in its pipeline, with key milestones expected in 2024 and 2025.

In its financial outlook for 2024-2026, Moderna laid out plans indicating a path to profitability for its COVID-19 vaccine portfolio, with a specific goal of reaching break-even by 2026.