Business
Maravai LifeSciences Reports Fourth Quarter and Full Year 2022 Financial Results
Base business revenues, excluding COVID-19 related CleanCap® revenues, were up 67% in the fourth quarter and up 17% for the full year Announces acquisition of
About this update from Maravai Lifesciences Holdings, Inc.
[{"type":"text","content":"Base business revenues, excluding COVID-19 related CleanCap® revenues, were up 67% in the fourth quarter and up 17% for the full year Announces acquisition of privately-held Alphazyme, LLC, adding critical enzyme manufacturing capabilities to Maravai’s Nucleic Acid Production Segment SAN DIEGO, Feb. 22, 2023 (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 fourth quarter and full year ended December 31, 2022, together with other business updates. Recent highlights include: Quarterly revenue of $204.7 million, Net income of $87.4 million, and Adjusted fully diluted earnings per share (EPS) of $0.35;Annual revenue of $883.0 million, Net income of $490.7 million and Adjusted fully diluted EPS of $1.80;Expanded MockV® product offering with new kit that predicts retroviral particle clearance in biopharmaceutical manufacturing;Named to the 2022 Deloitte Technology Fast 500™ List of Fastest-Growing Companies in North America;Announced updated CEO succession plan;Launched new Office of Science and Innovation, led by Dr. Kate Broderick;Completed the acquisition of Alphazyme, LLC, a privately-held, founder-led OEM provider of custom, scalable molecular biology enzymes, servicing customers in the genetic analysis and nucleic acid synthesis markets; and,Introduced 2023 revenue guidance range of $420.0 million to $460.0 million, with base business revenues, excluding COVID-19 related CleanCap revenues, expected to grow in excess of 20%. “Maravai produced another solid quarter with total revenues reaching $204.7 million, capping off an exceptional year of record revenues and profits. These quarterly results include growth of 67% in our overall base business revenues, and growth of 101% in our non-COVID Nucleic Acid Production revenues,” said Carl Hull, Executive Chairman and Interim CEO of Maravai. “Entering 2023, we believe that we are incredibly well positioned to drive robust base business growth by innovating in ways that support our mRNA and cell and gene therapy customers’ discovery and clinical development programs.” Revenue for the Fourth Quarter and Full Year 2022 Three Months Ended December 31, 2022 2021 Year-over-Year % ChangeNucleic Acid Production$189,290 $212,510...