MARAVAI LIFESCIENCES HOLDINGS, INC. MRVI
Maravai LifeSciences Holdings, Inc. (also referred to in this document as "Maravai," "we," "us," "our" or "the Company") is a life sciences company providing critical products and services to enable the development of drugs, therapeutics, vaccines, and diagnostics, and support research on human disease. Our customers include biopharmaceutical companies, emerging biotech firms, life science research organizations, academic research institutions and diagnostics companies.
Our comprehensive product portfolio addresses the critical stages of biopharmaceutical development, offering:
•antibody-based solutions to detect impurities during the production of biopharmaceutical products.
We operate and report our business in two segments – TriLink, formerly referred to as Nucleic Acid Production, and Cygnus, formerly referred to as Biologics Safety Testing.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $185.7M | $259.2M | $288.9M | $883.0M | $799.2M | $284.1M | $143.1M | — |
| Cost of revenue | $151.8M | $150.9M | $148.7M | $169.0M | $140.6M | $79.6M | $66.8M | — |
| Gross profit | $34.0M | $108.3M | $140.2M | $714.0M | $658.7M | $204.4M | $76.3M | — |
| R&D | $17.4M | $19.2M | $17.3M | $18.4M | $15.2M | $9.3M | $3.6M | — |
| SG&A | $145.1M | $161.8M | $151.4M | $129.3M | $100.1M | $94.2M | $48.4M | — |
| Total operating expenses | $249.3M | $343.9M | $171.8M | $308.8M | $244.6M | $164.2M | $119.2M | — |
| Operating income | -$215.3M | -$235.6M | -$31.6M | $574.2M | $554.6M | $119.9M | $24.0M | — |
| Interest expense | $27.0M | $47.7M | $45.9M | $20.4M | $30.3M | $30.7M | $30.0M | — |
| Pre-tax income | -$235.0M | -$261.5M | $617.7M | $551.5M | $530.8M | $81.7M | -$5.9M | — |
| Income tax | $4.2M | $1.9M | $756.1M | $60.8M | $61.5M | $2.9M | $652.0K | — |
| Net income | -$130.8M | -$144.8M | -$138.4M | $490.7M | $469.3M | $89.0M | -$4.5M | — |
| EPS, basic | -0.90 | -1.05 | -0.90 | 1.67 | 1.59 | 7.43 | -0.03 | — |
| EPS, diluted | -0.90 | -1.05 | -0.90 | 1.67 | 1.56 | 2.36 | -0.03 | — |
| Shares, diluted (wtd. avg.) | $144.4M | $137.9M | $131.9M | $255.3M | $257.8M | $28.9M | $253.9M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $216.9M | $322.4M | $575.0M | $632.1M | $551.3M | $236.2M | $24.7M | $21.9M |
| Receivables | $25.5M | $38.5M | $54.6M | $138.6M | $117.5M | $51.0M | — | — |
| Inventory | $40.5M | $50.1M | $51.4M | $43.2M | $51.6M | $33.3M | — | — |
| Total current assets | $296.3M | $429.1M | $699.9M | $847.9M | $740.0M | $331.6M | — | — |
| Property, plant and equipment | $151.5M | $164.5M | $162.9M | $52.7M | $46.3M | $101.3M | — | — |
| Goodwill | $129.4M | $159.9M | $326.0M | $283.7M | $152.8M | $224.3M | — | — |
| Other intangibles | $151.5M | $195.0M | $221.0M | $216.7M | $117.6M | $177.7M | — | — |
| Total assets | $770.6M | $1.01B | $1.49B | $2.28B | $1.92B | $1.27B | — | — |
| Accounts payable | $2.9M | $12.0M | — | $6.0M | $8.2M | $8.2M | — | — |
| Short-term debt | $5.4M | $5.4M | $5.4M | $5.4M | $6.0M | $6.0M | — | — |
| Total current liabilities | $44.9M | $57.0M | $87.5M | $110.1M | $93.8M | $130.8M | — | — |
| Long-term debt | $286.3M | $290.5M | $518.7M | $522.0M | $524.6M | $400.0M | — | — |
| Total liabilities | $397.9M | $431.0M | $697.6M | $1.38B | $1.37B | $1.12B | — | — |
| Retained earnings | $10.1M | $140.9M | $285.7M | $404.8M | $184.6M | $854.0K | — | — |
| Total equity | $212.4M | $325.3M | $789.9M | $905.2M | $545.4M | $154.7M | $144.6M | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$57.6M | $7.5M | $126.2M | $536.0M | $368.6M | $152.2M | $24.1M | — |
| Depreciation and amortisation | $23.6M | $20.9M | $12.9M | $7.6M | $6.4M | $5.6M | $3.8M | — |
| Stock-based compensation | $30.2M | $49.4M | $34.6M | $18.7M | $10.5M | $24.6M | $1.7M | — |
| Capital expenditure | $13.1M | $29.7M | $65.6M | $17.1M | $14.8M | $25.4M | $17.1M | — |
| Investing cash flow | -$31.4M | -$24.3M | -$122.3M | -$267.6M | $105.7M | $6.1M | -$17.1M | — |
| Financing cash flow | -$16.5M | -$235.7M | -$61.1M | -$187.5M | -$159.0M | $53.2M | -$4.2M | — |
| Buybacks | — | — | — | $0 | $0 | $33.7M | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001823239-26-000016.
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