Maravai Lifesciences Holdings, Inc. · NASDAQ:MRVI
Maravai Lifesciences — Q1 2026 Earnings Presentation
25 slides from Maravai Lifesciences's earnings presentation, May 7, 2026
Slide 1: Q1 2026 Financial Results
NASDAQ: MRVI Q1 2026 Financial Results May 7, 2026
Slide 2: Agenda
Agenda 01 Welcome Deb Hart, Head of Investor Relations 02 Business Highlights Bernd Brust, Chief Executive Officer 03 Financial Results Raj Asarpota, Chief Financial Officer & Guidance 04 Q&A Session Bernd Brust, Chief Executive Officer Raj Asarpota, Chief Financial Officer Chanfeng Zhao, Chief Scie
Slide 3: Forward Looking Statements and Use of Non-GAAP Financial Measures
Forward Looking Statements and Use of Non-GAAP Financial Measures This presentation contains, and our officers and representatives may, from time to time make, “forward -looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.
Slide 4: Business Highlights
Q1 2026 Business Highlights Bernd Brust Chief Executive Officer 4 © 2026 Maravai LifeSciences
Slide 5: Q1 financial highlights
Q1 financial highlights Base revenue1 growth of 10% YoY Q1 ADJUSTED Q1 ADJUSTED Q1 REVENUE GROSS MARGIN2 EBITDA2 TriLink base revenue1 $65.8 M 65.3% $20.3 M growth +15% YoY driven by +41% GMP consumables and Discovery Cygnus +1% YoY with strong demand in North America and EMEA TriLink Base revenue g
Slide 6: Our Strategy is Driving Improved Results
Our Strategy is Driving Improved Results Commercial Operational R&D Focus Execution Excellence • Better forecasting, improved • Restructuring on track for • Translating innovation into visibility and stronger order >$65M in EBITDA savings revenue conversion • Structural, scalable • GMP enzymes launc
Slide 7: Financial Results
Q1 2026 Financial Results Raj Asarpota Chief Financial Officer 7 © 2026 Maravai LifeSciences
Slide 8: Q1 2026 Results
Q1 2026 Results Business Segment Customer Mix Geographical Mix (base revenue) (base revenue) (base revenue) • BioPharma: 32% • NA: 60% • TriLink base revenue of $33.2 M • Life Sciences & Diagnostics: 31% • EMEA: 25% • Cygnus revenue of $18.4 M • Academia: 4% • Asia Pacific: 8% • CRO/CMO/CDMO: 7% • C
Slide 9: Q1 financial overview
Q1 financial overview GAAP Net Loss of $6.4 M1 Earnings Per Share ($)3,4,5 ($46.5 M improvement YoY) Basic EPS Diluted EPS Adjusted EPS ($0.05) ($0.05) Adjusted EBITDA of ($0.02) ($0.02) $0.01 $20.32 (>$30 M improvement YoY) 1. GAAP net loss prior to amounts attributable to non-controlling interests
Slide 10: Balance Sheet, Cash Flow and Financial Highlights
Balance Sheet, Cash Flow and Financial Highlights Long-Term Cash Net Cash1 Gross Debt $165.9 M $242.9 M ($77.0) M Positive Free Cash Flow3 Fully Diluted Net Interest Stock-based $4.2 M in Q1 Shares Expense Compensation Outstanding2 $3.9 M $6.7 M 261.7 M 1. Based on Cash less long-term debt 2. The fu
Slide 11: Q1 business segment financials
Q1 business segment financials Cygnus TriLink $18.4 M +1% • 72% of total Maravai revenue (64% of base) • $14.3 M of COVID GMP CleanCap • $17.3 M of Adjusted EBITDA Cygnus TriLink $47.5 M • 28% of total Maravai revenue (36% of base) +65% • $13.6 M of Adjusted EBITDA 1. Reconciliation provided in appe
Slide 12: Updated 2026 guidance
Updated 2026 guidance Prior Guidance Updated Guidance REVENUE $200 to $210 million $205 to $215 million CLEANCAP® $10 to $20 million $14.3 million COVID-19 REVENUE ADJUSTED EBITDA $18 to $20 million $30 to $32 million Updated guidance reflects strong Q1 and increased confidence in the base business
Slide 13: Q&A
Q&A Bernd Brust, Chief Executive Officer Raj Asarpota, Chief Financial Officer Chanfeng Zhao, Chief Scientific Officer 13 © 2026 Maravai LifeSciences
Slide 14: Closing Commentary
Closing Commentary Bernd Brust Chief Executive Officer 14 © 2026 Maravai LifeSciences
Slide 15: Seeing meaningful financial progress
Seeing meaningful financial progress Strong start to the year with building momentum TriLink is driving growth; Cygnus remains stable high-margin contributor Structural improvements are translating to results Clear path to sustained performance ©2026 Maravai LifeSciences.
Slide 16: Thank you
Thank you ©2026 Maravai LifeSciences.
Slide 17: Appendix for non-GAAP Measures
Appendix for non-GAAP Measures ©2026 Maravai LifeSciences.
Slide 18: Non-GAAP reconciliations
Non-GAAP reconciliations This presentation contains financial measures that have not been calculated in accordance with accounting principles generally accepted in the U.S. (GAAP). These non-GAAP measures include: Adjusted EBITDA, Adjusted Net Income (Loss), Adjusted fully diluted Earnings Per Share
Slide 19: Non-GAAP reconciliations
Non-GAAP reconciliations This presentation contains financial measures that have not been calculated in accordance with accounting principles generally accepted in the U.S. (GAAP). These non-GAAP measures include: Adjusted EBITDA, Adjusted fully diluted Earnings Per Share (EPS), Adjusted Gross Margi
Slide 20: Non-GAAP reconciliations (in thousands, except per share amounts)
Non-GAAP reconciliations (in thousands, except per share amounts) 20 ©2026 Maravai LifeSciences.
Slide 21: Non-GAAP reconciliations
Non-GAAP reconciliations 21 ©2026 Maravai LifeSciences.
Slide 22: Explanatory Notes to Reconciliations
Explanatory Notes to Reconciliations (1) Refers to incremental costs incurred to execute and integrate completed acquisitions, including retention payments related to integration that were negotiated specifically at the time of the Company’s acquisition of Alphazyme, which was completed in January 2
Slide 23: Adjusted EBITDA by Segment
Adjusted EBITDA by Segment ©2026 Maravai LifeSciences.
Slide 24: Adjusted Gross Margin
Adjusted Gross Margin ©2026 Maravai LifeSciences.
Slide 25: Free Cash Flow (non GAAP)
Free Cash Flow (non GAAP) ©2026 Maravai LifeSciences.
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