Maravai Lifesciences Holdings, Inc. · NASDAQ:MRVI
Maravai Lifesciences — Q3 2025 Earnings Presentation
22 slides from Maravai Lifesciences's earnings presentation, Nov 6, 2025
Slide 1: Q3 2025 Financial Results
NASDAQ: MRVI Q3 2025 Financial Results November 6, 2025
Slide 2: Agenda
Agenda 01 Welcome Deb Hart, Head of Investor Relations 02 Business Updates Bernd Brust, Chief Executive Officer 03 Financial Results and Guidance Raj Asarpota, Chief Financial Officer 04 Q&A Session Bernd Brust, Chief Executive Officer Raj Asarpota, Chief Financial Officer Chanfeng Zhao, Chief Scien
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 Updates
Q3 2025 Business Updates Bernd Brust Chief Executive Officer 4 © 2025 Maravai LifeSciences
Slide 5: Q3 Results
Q3 Results Biologics Safety Testing – Cygnus continues to perform well – $16.3 M net sales, up 7% y/y – Q3 strength from US and Europe Q3 REVENUE $41.6 M Nucleic Acid Products – TriLink revenue decline in line with internal forecasts – $25.4M net sales, down 53% y/y – Q3 2024 comp included non-recur
Slide 6: Restructuring Update
Restructuring Update Stabilized operations, reduced expenses and strengthened balance sheet Expect sequential On track to lower Adjusted EBITDA annualized expenses by improvements in Q4 of >$50 M >$ 7 M Restructuring largely complete and remaining initiatives progressing to plan 6 © 2025 Maravai Lif
Slide 7: Biologic Safety Testing
Biologic Safety Testing Targeting high-growth markets in cell and gene therapy, vaccines and biologics drug manufacturing Delivering strong, recurring Expanding host cell protein Robust demand for revenue with broad adoption (HCP) assay portfolio contract services, MockV® across novel monoclonal inc
Slide 8: Nucleic Acid Products
Nucleic Acid Products Delivering innovative nucleic acid products and services to help our customers bring transformative nucleic acid medicines and tools from research to patients. Strong start to Q4 in ModTail Technology Strong reception for IVT Encouraging early both TriLink Discovery showing pro
Slide 9: CDMO Services
CDMO Services Comprehensive support from discovery to late-stage clinical development Increased engagement and multi-year supply agreements Continue to bring cell and gene therapy customers into Flanders facility Expecting increase in CDMO programs in 2026, and increased average batch size per
Slide 10: Shifting our Strategy to Position Maravai for Sustainable, Profitable Growth
Shifting our Strategy to Position Maravai for Sustainable, Profitable Growth 1 2 3 Revenue Operational Return to diversification and excellence profitability growth 10 © 2025 Maravai LifeSciences
Slide 11: Financial Results
Q3 2025 Financial Results Raj Asarpota Chief Financial Officer 11 © 2025 Maravai LifeSciences
Slide 12: Q3 2025 Results
Q3 2025 Results Business Segment Customer Mix Geographical Mix REVENUE $41.6 M • NAP revenue of $25.4 M • BioPharma: 27% • NA: 60% • BST revenue of $16.3 M • Life Sciences & Diagnostics: 32% • EMEA: 19% • Academia: 4% • Asia Pacific: 12% • CRO/CMO/CDO: 8% • China: 8% • Distributor: 29% • LAC: 1% 12
Slide 13: Q3 2025 Financial Overview
Q3 2025 Financial Overview GAAP Net Loss of Adjusted EBITDA of $45.1 M1 ($10.8 M)2 1. GAAP net loss prior to amounts attributable to non-controlling interests 2. Adjusted EBITDA reconciliation provided on pages 20-22 13 © 2025 Maravai LifeSciences
Slide 14: Basic, Diluted and Adjusted EPS
Basic, Diluted and Adjusted EPS Q3 2025 Loss Per Share ($)1,2,3 $0.00 -$0.05 -$0.10 ($0.08) -$0.15 -$0.20 ($0.18) ($0.18) -$0.25 -$0.30 Basic EPS Diluted EPS Adjusted EPS 1. Basic EPS (GAAP) equals Net Income (loss) attributable to Maravai LifeSciences Holdings, Inc. divided by the weighted average
Slide 15: Q3 2025 Balance Sheet, Cash Flow and Financial Highlights
Q3 2025 Balance Sheet, Cash Flow and Financial Highlights Long-Term Cash Net Cash1 Gross Debt $243.6 M $295.6 M ($52.0 M) Cash Used in Operations Fully Diluted $15.2 M in Q3 2025 Net Interest Stock-based Shares Expense Compensation Outstanding2 $4.0 M $9.1 M 257 M 1. Based on Cash less long-term deb
Slide 16: Q3 2025 Business Segment Financials
Q3 2025 Business Segment Financials Nucleic Acid Production ($M) Biologics Safety Testing ($M) REVENUE REVENUE $25.4 M $16.3 M • 61% of total Maravai revenue • 39% of total Maravai revenue • ($7.9 M) Adjusted EBITDA1,2 • $10.5 M Adjusted EBITDA1,2 1. Reconciliation provided on pages 20-22 2. Refers
Slide 17: 2025 Financial Guidance
2025 Financial Guidance 2025 ADJUSTED 2025 REVENUE EBITDA1 ~$185 M (~$35 M) Other 2025 Guidance Assumptions • Interest expense, net of interest income ~$15 M; • Depreciation and amortization ~$52 M; • Stock-based compensation ~$31 M; • As-if fully converted share count of ~260 M shares; • Other Q4 2
Slide 18: Q&A
Q&A Bernd Brust, Chief Executive Officer Raj Asarpota, Chief Financial Officer Chanfeng Zhao, Chief Scientific Officer 18 © 2025 Maravai LifeSciences
Slide 19: Closing Commentary
Q3 2025 Closing Commentary Bernd Brust Chief Executive Officer 19 © 2025 Maravai LifeSciences
Slide 20: 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 and Adjusted fully diluted Earnings Per Share (EPS). Maravai defines A
Slide 21: Non-GAAP reconciliations
Non-GAAP reconciliations These non-GAAP measures are supplemental measures of operating performance that are not prepared in accordance with GAAP and do not represent, and should not be considered as, an alternative to net loss, as determined in accordance with GAAP. Management uses these non-GAAP m
Slide 22: Explanatory notes to reconciliations
Explanatory notes to reconciliations (1) Refers to the change in estimated fair value of contingent consideration related to completed acquisitions. (2) Refers to incremental costs incurred to execute and integrate completed acquisitions, including retention payments related to integration that were
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