Maravai Lifesciences Holdings, Inc. · NASDAQ:MRVI
Maravai Lifesciences — Q1 2025 Earnings Presentation
25 slides from Maravai Lifesciences's earnings presentation, May 12, 2025
Slide 1: Q1 2025 Financial Results
NASDAQ: MRVI Q1 2025 Financial Results May 12, 2025
Slide 2: Agenda
Agenda 01 Welcome Deb Hart, Head of Investor Relations 02 Business Highlights Trey Martin, Chief Executive Officer 03 Financial Results Kevin Herde, Chief Financial Officer & Guidance 04 Q&A Session Trey Martin, Chief Executive Officer Kevin Herde, Chief Financial Officer Becky Buzzeo, Chief Commerc
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 2025 Business Highlights Trey Martin Chief Executive Officer 4 © 2025 Maravai LifeSciences
Slide 5: Q1 2025 Results
Q1 2025 Results Business Segment Customer Mix Geographical Mix REVENUE $47 M • NAP revenue of $29 M • BioPharma: 29% • NA: 62% • BST revenue of $18 M • Life Sciences & Diagnostics: 28% • EMEA: 15% • Academia: 6% • Asia Pacific: 15% • CRO/CMO/CDO: 7% • China: 8% • Distributor: 30% 5 © 2025 Maravai Li
Slide 6: Operationally Positioned to Mitigate Tariff Exposure
Operationally Positioned to Mitigate Tariff Exposure M&A Has Significantly Enhanced • Manufacturing 100% US-based for TriLink, NAP Vertical Integration Alphazyme, and Cygnus • Supply Chain majority US-based, and efforts US-based DNA production underway to assess tier 2 and tier 3 supplier inputs and
Slide 7: Modifications
TriLink mRNA – Innovating from cap to tail with new Poly(A+) line 5′-UTR optimization Codon optimization 3′-UTR optimization: Design Directs expression to Reduces secondary structure Enhances mRNA stability the target tissue for efficient translation Modifications Cap analogue selection Nucleotide m
Slide 8: Expanding product line with Poly(A+) Tail – a solution for longer expression
Expanding product line with Poly(A+) Tail – a solution for longer expression 1.5×10 12 ns 12 48 72 (hr) 1×10 12 @12h 5×10 11 Whole Body Luminescent Intensity(Photons/s) of CD-1 Mice PBS Whole Body Luminescent Intensity(Photons/s) of CD-1 Mice PBS M6-Fluc M6-Fluc Luminescent Intensity(Photons/s) Inte
Slide 9: NAP Product and Service Innovations
NAP Product and Service Innovations Purified gRNA Molecular Process Development Guides Assemblies Services Custom discovery gRNAs to Significantly enhanced Oligo Formal offering launched, advance CRISPR based cell production capabilities expanded by & gene therapies Officinae Bio acquisition CleanCa
Slide 10: Pipeline shows sustained investment and interest in early-stage research
Pipeline shows sustained investment and interest in early-stage research Clinical1 Preclinical1 Net Program Growth Q1 (30% of total programs) (70% of total programs) +95 new preclinical programs Total Programs 447 1,049 ~1,500 0% YoY +15% YoY +14 Preclinical Programs > > Clinical CleanCap 30% 38% Cu
Slide 11: BST Product and Service Innovations
BST Product and Service Innovations New AccuRes MockV Product Host Cell Protein Cygnus Services HCD Kits Expansion Analytics Advancing technology to Expanded Host Cell DNA New RVLP Inactivation kit Process specific HCP enhance safety, aid with quantification analytics for early viral analytics for d
Slide 12: 2024 Sustainability Report Highlights
2024 Sustainability Report Highlights Corporate Product Health & Governance Innovation Safety Appointed independent Launched 49 new Conducted 314 safety Board Chair; all Board products and inspections and 38 committees are shipped 2,900+ distinct job-safety analyses; a independent-chaired; items; Cl
Slide 13: Financial Results
Q1 2025 Financial Results Kevin Herde Chief Financial Officer 13 © 2025 Maravai LifeSciences
Slide 14: Financial Overview
Financial Overview Q1 REVENUE GAAP Net Adjusted Adjusted EBITDA Margin of $47 M Loss of $53 M1 EBITDA of ($11 M)2 (23%) Trailing 12-month Adjusted EBITDA margin was 7% on $242 million of revenues 1. GAAP net loss prior to amounts attributable to non-controlling interests 2. Adjusted EBITDA reconcili
Slide 15: Basic, Diluted and Adjusted EPS
Basic, Diluted and Adjusted EPS Loss Per Share ($)1,2,3 $0.00 -$0.05 -$0.10 ($0.08) -$0.15 -$0.20 ($0.21) ($0.21) -$0.25 Basic EPS Diluted EPS Adjusted EPS 1. Basic EPS (GAAP) equals Net Income (loss) attributable to our Class A shares divided by the weighted average Class A shares 2. In periods in
Slide 16: Q1 2025 Balance Sheet, Cash Flow and Financial Highlights
Q1 2025 Balance Sheet, Cash Flow and Financial Highlights Long-Term Cash Net Cash1 Gross Debt $285 M $298 M ($13 M) Cash Used in Operations Fully Diluted $9 M in Q1 2025 Net Interest Stock-based Shares Expense Compensation Outstanding2 $4 M $10 M 255 M Continue to expect FY 2025 Capital Expenditures
Slide 17: Q1 2025 Business Segment Financials
Q1 2025 Business Segment Financials Nucleic Acid Production ($M) Biologics Safety Testing ($M) REVENUE REVENUE $29 M $18 M • 61% of total Maravai revenue • 39% of total Maravai revenue • ($9 M) Adjusted EBITDA • $13 M Adjusted EBITDA 1. Reconciliation provided on pages 23-25 2. Refers to adjusted EB
Slide 18: 2025 Guidance
2025 Guidance 2025 REVENUE Q2 REVENUE $185 M to $45 M to $205 M $50 M Other 2025 Model Assumptions • Interest expense, net of interest income, between $14 M and $16 M • Depreciation and amortization between $50 M and $55 M • Stock-based compensation, which we show as a reconciling item from GAAP to
Slide 19: Q&A
Q&A 19 © 2025 Maravai LifeSciences
Slide 20: Closing Commentary
Q1 2025 Closing Commentary Trey Martin Chief Executive Officer 20 © 2025 Maravai LifeSciences
Slide 21: Closing Remarks
Closing Remarks Tracking to Executing on our Return Navigating Market 2025 Guidance to Growth Strategy Dynamics 21 © 2025 Maravai LifeSciences
Slide 22: Thank you
Thank you maravdali LifeSciences
Slide 23: Non-GAAP reconciliations
Non-GAAP reconciliations This presentation contains financial measures that have not Net Loss to Adjusted EBITDA (non-GAAP) been calculated in accordance with accounting principles Three Months Ended generally accepted in the U.S. (GAAP). These non-GAAP In thousands March 31, measures include: Adjus
Slide 24: Non-GAAP reconciliations
Non-GAAP reconciliations These non-GAAP measures are supplemental measures of Adjusted Net Loss (non-GAAP) and Adjusted Fully Diluted Loss Per Share (non-GAAP) operating performance that are not prepared in accordance Three Months Ended with GAAP and that do not represent, and should not be In thous
Slide 25: 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 MyChem, LLC (“MyChem”) and Alphazyme, LLC (
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