Financial Data and Key Metrics Changes - The company reported fourth quarter revenues of $57 million, aligning with expectations, and full year revenues of $259 million, near the midpoint of the previously stated range of $255 million to $265 million [10] - GAAP net loss before non-controlling interests was $46 million for Q4 2024, compared to a loss of $110 million in Q4 2023, while the annual net loss was $260 million, up from $138 million in 2023 [12] - Adjusted EBITDA for Q4 2024 was a negative $1 million, down from $21 million in Q4 2023, with a full year adjusted EBITDA of $36 million, reflecting a margin of 14% [12][13] Business Line Data and Key Metrics Changes - The Biologic Safety Testing segment generated $15 million in Q4 and $63 million for the full year, with an adjusted EBITDA margin of approximately 70% [10][17] - The Nucleic Acid Production segment reported revenues of $42 million in Q4, including $14 million from high volume clean cap sales, and $196 million for the full year, with an adjusted EBITDA margin of 26% [10][17] Market Data and Key Metrics Changes - Revenue breakdown by customer type for 2024 showed 48% from biopharma, 25% from life sciences and diagnostics, 5% from CROs, CMOs, and CDMOs, 4% from academia, and 18% through distributors [11] - The company’s exposure to China was $13.6 million for the full year, with expectations for flat growth in 2025 [69] Company Strategy and Development Direction - The company is focused on returning its base business to growth, anticipating revenues of $185 million to $205 million for 2025, excluding high volume clean cap [19][20] - Strategic investments include expanding commercial footprint, enhancing intellectual property protection, and integrating recent acquisitions to drive growth in the discovery area [30][63] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in forecasting due to market dynamics but expressed confidence in the company’s capabilities and growth opportunities [19][24] - The company is enhancing visibility into customer clinical programs to better predict sales and manage operations [27][35] Other Important Information - The company ended 2024 with $322 million in cash and $300 million in long-term debt, resulting in a net cash position of $22 million [14] - Capital expenditures for 2024 were $30 million, with expectations for a decline to $15 million to $20 million in 2025 [23][15] Q&A Session Summary Question: Can you provide guidance on gross margins for 2025? - Management indicated that the cost structure for 2025 will remain consistent with 2024, with fixed costs around $200 million and variable costs expected to range between 10% to 12% [46][47] Question: How is the company improving visibility with key customers? - Management noted that new agreements include mandatory disclosure requirements for clinical trial milestones, which should enhance visibility into customer programs [52][53] Question: What are the expectations for segment growth and revenue cadence? - Management expects Q1 2025 revenues to be between $43 million to $45 million, with growth anticipated in the back half of the year driven by acquisitions and new product introductions [56][58] Question: What are the capital allocation priorities for 2025? - The company plans to focus on reducing cash interest expenses and is open to evaluating M&A opportunities that align with their strategic goals [62][63] Question: How much of the revenue forecast is related to COVID vaccine contributions? - Management stated that the forecast excludes any contributions from COVID-related revenues, reflecting a shift in focus to base business growth [80][82] Question: What percentage of revenue did the top 10 customers comprise for 2024? - The top 10 customers accounted for 46% of revenue in 2024, showing a gradual diversification from 48% in 2023 [84]

NEW YORK, March 20, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI).Shareholders who purchased shares of MRVI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/maravai-lifesciences-holdings-inc-loss-submission-form/?id=137092&fr ...

Core Viewpoint - Maravai LifeSciences Holdings, Inc. is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, with claims of misleading statements and inadequate internal controls over financial reporting [1][3]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled Nelson v. Maravai LifeSciences Holdings, Inc., and it allows purchasers of Maravai securities from August 7, 2024, to February 24, 2025, to seek lead plaintiff status by May 5, 2025 [1][5]. - Allegations include that Maravai lacked adequate internal controls over financial reporting, inaccurately recognized revenue during fiscal 2024, and overstated goodwill [3][4]. - On February 25, 2025, Maravai announced a postponement of its fiscal 2024 earnings release due to issues related to revenue recognition and a potential non-cash impairment charge, leading to a nearly 22% drop in stock price [4][3]. Group 2: Company Background - Maravai LifeSciences is a provider of biologics that support clinical research [2]. - Robbins Geller Rudman & Dowd LLP, the law firm handling the case, is recognized for its success in securities fraud cases, having recovered $6.6 billion for investors in such cases [6].

LOS ANGELES, March 19, 2025 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Maravai LifeSciences Holdings, Inc. ("Maravai" or "the Company") (NASDAQ: MRVI) violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Investors who purchased the Company's securities between August 7, 2024 and February 24, 2025, inclusive (the "C ...

Core Viewpoint - A class action lawsuit has been filed against Maravai LifeSciences Holdings, Inc. for allegedly misrepresenting its financial condition and revenue recognition practices during a specified period [1][2]. Group 1: Allegations - The lawsuit alleges that Maravai lacked adequate internal controls over financial reporting related to revenue recognition [2] - It is claimed that the company inaccurately recognized revenue on certain transactions during fiscal 2024 [2] - The complaint also states that Maravai's goodwill was overstated, leading to materially misleading statements about the company's business and prospects [2] Group 2: Stock Impact - Following the revelation of an error in revenue recognition and a material weakness in internal controls, Maravai's stock price fell over 21% to close at $3.14 per share on February 25, 2025 [3] Group 3: Class Action Participation - Shareholders interested in serving as lead plaintiffs must file their papers with the court by May 5, 2025 [4] - Shareholders can remain absent class members if they choose not to participate in the case [4] Group 4: Company Background - Maravai LifeSciences is a life sciences company that provides products for drug therapy development, diagnostics, novel vaccines, and research support on human diseases globally [1]

Revenue and Sales Performance - As of December 31, 2024, total revenue for the year was $259.2 million, with approximately 51.0% derived from international sales[463]. - Revenue for the year ended December 31, 2024, was $259,185,000, a decrease of 10.3% from $288,945,000 in 2023[480]. - Revenue from Nucleic Acid Production was $196.345 million in 2024, down from $224.769 million in 2023, representing a decline of 12.6%[516]. - Revenue from Biologics Safety Testing was $62.840 million in 2024, compared to $64.176 million in 2023, a decrease of 2.1%[516]. - The company recognized $3.7 million of revenue from contract liabilities during 2024, which was part of the $5.5 million balance as of December 31, 2023[515]. Financial Performance and Losses - The net loss attributable to Maravai LifeSciences Holdings, Inc. for 2024 was $144,846,000, compared to a net loss of $119,029,000 in 2023[480]. - The company reported a basic and diluted net loss per Class A common share of $1.05 for 2024, compared to a loss of $0.90 in 2023[480]. - The total comprehensive loss attributable to Maravai LifeSciences Holdings, Inc. was $144,846,000 in 2024, compared to a loss of $119,029,000 in 2023[482]. - Net loss for the year ended December 31, 2024, was $259,622, compared to a net loss of $138,375 in 2023[487]. Expenses and Cost Management - Total operating expenses increased significantly to $494,802,000 in 2024, up from $320,593,000 in 2023, reflecting a 54.2% rise[480]. - Research and development expenses increased to $19,221,000 in 2024, up from $17,280,000 in 2023, marking an increase of 11.2%[480]. - Stock-based compensation expense rose to $49,415 in 2024, up from $34,588 in 2023, marking an increase of 43%[487]. - Advertising costs increased to approximately $3.5 million in 2024 from $2.9 million in 2023, reflecting an increase of 20.7%[519]. - Restructuring charges for the year ended December 31, 2024, totaled $1.2 million, primarily due to stock-based compensation benefits from employee terminations[599]. Goodwill and Impairment - The company recorded a goodwill impairment loss of $11.9 million related to the Alphazyme reporting unit, with total goodwill amounting to $159.9 million, representing 16% of total assets[474]. - The company incurred a goodwill impairment of $166,151,000 in 2024, which was not present in 2023[480]. - The Company recorded a total goodwill impairment of $166.2 million during the third and fourth quarters of 2024[549]. - The Company performed quantitative goodwill impairment tests using a discounted cash flow model, with a selected discount rate of 10.5% for TriLink and 28.5% for Alphazyme[603][604]. Cash Flow and Liquidity - Cash and cash equivalents decreased to $322.4 million from $574.9 million in the previous year[478]. - Net cash provided by operating activities decreased to $7,465 in 2024 from $126,224 in 2023, reflecting a significant decline[487]. - Total cash and cash equivalents at the end of the period were $322,399, down from $574,962 in 2023, indicating a decrease of 43.8%[488]. - Cash paid for interest increased to $50,973 in 2024 from $44,256 in 2023, representing a rise of 15.4%[488]. - Net cash used in investing activities was $24,316 in 2024, a decrease from $122,310 in 2023[488]. - Net cash used in financing activities increased significantly to $235,712 in 2024 from $61,090 in 2023, indicating a rise of 285%[488]. Debt and Borrowings - The company had $299.7 million of outstanding borrowings under its Term Loan, with no borrowings under the Revolving Credit Facility as of December 31, 2024[461]. - As of December 31, 2024, the Company's total long-term debt was $295.932 million, down from $524.147 million in 2023[644]. - The Company voluntarily prepaid $228.0 million of the Term Loan in December 2024, resulting in a loss on partial extinguishment of debt of $3.0 million[637]. - The Term Loan requires mandatory quarterly principal payments of $1.4 million, with all remaining principal due in October 2027[637]. - The company has a $600 million term loan facility with an interest rate of 7.62% per annum as of December 31, 2024[633]. Acquisitions and Business Segments - The Company acquired Alphazyme, LLC for a total purchase consideration of $75.3 million, which includes cash paid of $70.0 million and contingent consideration of $5.3 million[573][575]. - The total purchase consideration for the acquisition of MyChem was $257.9 million, which included cash paid of $240.1 million and contingent consideration of $7.8 million[585]. - The company operates in two principal businesses: Nucleic Acid Production and Biologics Safety Testing, focusing on critical products for drug development and diagnostics[491]. - The acquisition of Alphazyme is expected to enhance the Company's enzyme product portfolio and expand its mRNA manufacturing services[573]. Assets and Liabilities - Total assets decreased to $1,008.2 million from $1,487.5 million year-over-year[478]. - Current liabilities decreased to $56.9 million from $87.5 million in the previous year[478]. - Total inventory as of December 31, 2024, was $50.082 million, a decrease from $51.397 million as of December 31, 2023[613]. - Total accrued expenses and other current liabilities decreased significantly to $36.4 million in 2024 from $60.2 million in 2023, a reduction of 39%[616]. - Total other long-term liabilities decreased to $52.5 million in 2024 from $59.5 million in 2023, a decline of 12%[617].

Earnings Release Delay - Maravai LifeSciences Holdings, Inc. announced a delay in its earnings release and call originally scheduled for February 25, 2025, due to the need for additional time to complete its financial close process[5]. - The company intends to file a Form 12b-25 for late filing with the SEC on or before March 4, 2025, and plans to submit its annual report on Form 10-K for the fiscal year ended December 31, 2024, by March 18, 2025[5]. Preliminary Revenue Results - Preliminary revenue results for the year ended December 31, 2024, were included in the February 2025 Press Release, although specific figures were not disclosed in the provided content[6].

Schedules Conference Call for Thursday, March 20, 2025SAN DIEGO, March 18, 2025 (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, 2024, together with other business updates. The company also expects to file its Annual Report on Form 10-K for the year ended December 31, 2024, with the Securities ...

NEW YORK, March 18, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Maravai LifeSciences Holdings, Inc. ("Maravai LifeSciences" or the "Company") (NASDAQ: MRVI) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Maravai LifeSciences investors who were adversely affected by alleged securities fraud between August 7, 2024 and February 24, 2025. Follow the link below to get more information and be contacted by a member of our team:https://zl ...

NEW YORK, March 17, 2025 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of purchasers of securities of Maravai Lifesciences Holdings, Inc. (NASDAQ: MRVI) between August 7, 2024 and February 24, 2025, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 5, 2025.So what: If you purchased Maravai securities during ...