Moderna Inc.
Q3 2022 Earnings Call
Nov 03, 2022, 8:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning. My name is Kevin, and welcome to Moderna's third quarter 2022 earnings call. [Operator instructions] Please be advised, this call is being recorded. At this time, I'd like to turn the call over to Lavina Talukdar, head of investor relations at Moderna.
Please proceed.
Lavina Talukdar -- Head of Investor Relations
Thank you, Kevin. Good morning, everyone, and thank you for joining us on today's call to discuss Moderna's third quarter 2022 financial results and business updates. You can access the press release issued this morning, as well as the slides that we'll be reviewing by going to the Investors section of our website. On today's call are Stéphane Bancel, our chief executive officer, Stephen Hoge, our president, Arpa Garay, our chief commercial officer, and Jamie Mock, our chief financial officer.
After prepared remarks, we will take your questions through 9:15 a.m. this morning. Before we begin, please note that this conference call will include forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Please see slide two of the accompanying presentation and our SEC filings for important risk factors that could cause our actual performance and results to differ materially from those expressed or implied in these forward-looking statements.
With that, I will turn the call over to Stephane.
Stéphane Bancel -- Chief Executive Officer
Thank you, Lavina. Good morning or good afternoon everyone. Welcome to our Q3 2022 conference call. Today, I will start with a quick business review of the quarter before Stephen reviews our clinical programs.
Arpa will then take you through commercial dynamics, and Jamie will present financials. I will then come back to close before we take your questions. In the quarter, we reported $3.4 billion in revenues. We reported net income of $1 billion and cash investments totaling $17 billion.
We now expect deliveries under advanced purchase agreements in the range of $18 billion to $19 billion in 2022 due to delayed deliveries from our Fill/Finish contract manufacturers, resulting in $2 billion to $3 billion of revenue deferrals into 2023. In Q3, we had to deal with a lot of complexity, launching two products, 1273.214 and 1273.222 at the same time and also moving products from 10-dose vials to five dose vials. Q3 was actually our greater delivery amount in terms of vials produced and was up about 20%, the average of the previous three quarters. Arpa will share more thoughts on 2023 in a moment.