Business
Maravai Lifesciences Reports First Quarter 2025 Financial Results
SAN DIEGO, Calif., May 12, 2025 (GLOBE NEWSWIRE) -- Maravai LifeSciences Holdings, Inc. (Maravai) (NASDAQ: MRVI), a global provider of life science reagents
About this update from Maravai Lifesciences Holdings, Inc.
[{"type":"text","content":"SAN DIEGO, Calif., May 12, 2025 (GLOBE NEWSWIRE) -- Maravai LifeSciences Holdings, Inc. (Maravai) (NASDAQ: MRVI), a global provider of life science reagents and services to researchers and biotech innovators, today reported financial results for the first quarter ended March 31, 2025, together with other business updates. Financial Highlights: Quarterly revenue of $46.9 million, Net loss of $(52.9) million (including a goodwill impairment of $12.4 million), and Adjusted EBITDA of $(10.5) million; andRevenue for the full year 2025 is expected to be in the range of $185.0 million to $205.0 million, unchanged from previous guidance. \"Our first quarter revenue exceeded our guidance range, and our base business, which excludes revenue from high-volume CleanCap® for commercial vaccine programs, grew more than $4 million compared to the fourth quarter of 2024, reflecting solid execution and momentum across the business,\" said Trey Martin, CEO, Maravai LifeSciences. “Our team remains committed to our return-to-growth strategy amid a dynamic and shifting macroeconomic environment. We believe our customer focus, our differentiated technologies and GMP services supporting clients from discovery through commercialization give us the best position to continue navigating the evolving landscape and drive long-term value for Maravai.” Revenue for the First Quarter 2025 Three Months Ended March 31,(Dollars in 000’s)2025 2024 Year-over-Year % ChangeNucleic Acid Production$28,750 $46,016 (37.5)%Biologics Safety Testing 18,100 18,163 (0.3)%Total Revenue$46,850 $64,179 (27.0)% First Quarter 2025 Financial Results by Reporting Segment Revenue for the first quarter was $46.9 million, representing a 27.0% decrease over the same period in the prior year and was driven by the following: Nucleic Acid Production revenue was $28.8 million for the first quarter, representing a 37.5% decrease year-over-year. The revenue decrease was primarily driven by a lack of high-volume CleanCap orders for commercial phase vaccine programs and lower demand for research and discovery products.Biologics Safety Testing revenue was $18.1 million for the first quarter, or relatively flat year-over-year. Net loss and Adjusted EBITDA (non-GAAP) were $(52.9) million and $(10.5) million, respectively, for the first quarter of 2025, compared to net loss and Adjusted EBITDA (non-G...