Financial Data and Key Metrics Changes - The company reported revenue of $47 million for Q1 2025, exceeding expectations and showing growth of over $4 million from Q4 2024 [7][30] - GAAP net loss before noncontrolling interests was $53 million for Q1 2025, compared to a loss of $23 million in Q1 2024 [30] - Adjusted EBITDA was a negative $11 million for Q1 2025, down from a positive $8 million in Q1 2024 [30][32] - Basic and diluted EPS for Q1 was a loss of $0.21 per share, compared to a loss of $0.09 per share in Q1 2024 [33] Business Line Data and Key Metrics Changes - The Nucleic Acid Production (NAP) segment generated $29 million in revenue for Q1 2025, up $1 million from Q4 2024 [7] - The Biologics Safety Testing (BST) segment reported revenue of $18 million in Q1 2025, an increase of $3 million over Q4 2024 [7][39] - The adjusted EBITDA margin for the BST segment was 70%, indicating strong performance [39] Market Data and Key Metrics Changes - Revenue by customer type in Q1 was 29% from biopharma, 28% from life science and diagnostics, 6% from academia, 7% from CDMO, and 30% through distributors [8] - Revenue by geography was 62% from North America, 15% from EMEA, 15% from Asia Pacific, and 8% from China [8] Company Strategy and Development Direction - The company is focused on a return to growth strategy and building a diversified, predictable franchise as a life science tool provider [11] - The strategy includes vertical integration in the NAP segment to enhance quality, speed, and cost efficiency [9] - The company aims to advance its market leadership in genomic medicines and expand its product and service portfolio [11][20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges of transitioning from a COVID-driven revenue model to a more diversified business [43] - The company is actively monitoring trade dynamics and working to mitigate potential impacts from tariffs [10][44] - There is a strong cash position of $285 million, which is seen as sufficient to manage the current reset period [44] Other Important Information - The company plans to publish its 2024 sustainability report, highlighting its commitment to sustainability and long-term strategic objectives [27][28] - The integration of recent acquisitions is progressing well, enhancing operational capabilities and supply chain control [35] Q&A Session Summary Question: What does the intel tell about the focus areas for new trials and those being discontinued? - Management noted that while preclinical programs were flat, clinical programs showed growth, indicating a focus on later-stage projects due to funding conservatism [50][51] Question: What are the biggest drivers of incremental demand in the next 12-18 months? - Management indicated that clinical progression and new business wins would drive demand, with a focus on expanding from bulk reagent supply to comprehensive service offerings [52][54] Question: Is there an opportunity to take market share with 100% U.S. manufacturing? - Management sees renewed interest in their U.S.-based manufacturing capabilities, which could attract customers looking for alternative suppliers [57][58] Question: What are the buying patterns from biopharma and academic customers? - The response highlighted a mixed environment, with some customers securing long-term funding while others are delaying decisions due to funding uncertainties [63][64] Question: Is there any government work or exposure to BARDA? - Management confirmed that there is no direct government work currently, and past BARDA engagements have been satisfied [69][70] Question: Is there seasonality in BST revenue? - Management indicated that Q1 is typically a high point for BST revenue due to manufacturing cycles, and a seasonal dip is expected in subsequent quarters [74][76]

Financial Data and Key Metrics Changes - The company reported $47 million in revenue for Q1 2025, exceeding expectations and showing a growth of over $4 million from Q4 2024 [6][27] - GAAP net loss before noncontrolling interests was $53 million for Q1 2025, compared to a loss of $23 million in Q1 2024 [27] - Adjusted EBITDA was negative $11 million for Q1 2025, down from a positive $8 million in Q1 2024 [28] - Basic and diluted EPS for Q1 was a loss of $0.21 per share, compared to a loss of $0.09 per share in Q1 2024 [30] Business Line Data and Key Metrics Changes - The Nucleic Acid Production (NAP) segment generated $29 million in revenue for Q1 2025, an increase of $1 million from Q4 2024 [6] - The Biologics Safety Testing (BST) segment reported $18 million in revenue for Q1 2025, up $3 million from Q4 2024 and flat compared to Q1 2024 [6][35] - The adjusted EBITDA margin for the BST segment was 70%, indicating strong performance [35] Market Data and Key Metrics Changes - Revenue by customer type in Q1 was 29% from biopharma, 28% from life science and diagnostics, 6% from academia, 7% from CDMO, and 30% through distributors [7] - Revenue by geography was 62% from North America, 15% from EMEA, 15% from Asia Pacific, and 8% from China [7] Company Strategy and Development Direction - The company is focused on a return to growth strategy and building a diversified franchise as a life science tool provider and clinical partner [10] - The strategy includes vertical integration in the NAP segment to enhance quality, speed, and cost efficiency [8] - The company aims to expand its product and service portfolio to drive long-term sustainable growth [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges of transitioning from a COVID-driven revenue model to a more diversified business [39] - The company is closely monitoring trade dynamics and working to mitigate potential impacts from tariffs [39] - The cash position of $285 million is seen as sufficient to manage the reset period while focusing on long-term growth [40] Other Important Information - The company plans to publish its 2024 sustainability report, highlighting its commitment to sustainability and long-term strategic objectives [25] - The integration of recent acquisitions is progressing well, enhancing operational capabilities and supply chain control [32] Q&A Session Summary Question: Focus areas for new trials and reasons for discontinuation - Management noted that while preclinical programs were flat, clinical programs showed growth, indicating a focus on later-stage projects due to funding conservatism [44][46] Question: Drivers of incremental demand in the next 12-18 months - Incremental demand is expected from clinical progression, new business wins, and the transition from bulk reagent supply to comprehensive service offerings [48] Question: Opportunities for market share due to U.S. manufacturing - The company sees potential for market share growth as interest in U.S.-based manufacturing increases, particularly in the mRNA space [51][54] Question: Impact of U.S. policy changes on customer buying patterns - Customers are experiencing mixed impacts from government funding changes, with some securing long-term funding while others delay decisions [60] Question: Government work and exposure - The company has no direct government work currently, with past contracts fulfilled, but remains open to future opportunities [66] Question: Seasonality in BST revenue - Q1 is typically a high point for BST revenue, influenced by manufacturing cycles and strong performance in China [70][72]

NASDAQ: MRVI Q1 2025 Financial Results May 12, 2025 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 Commercial Officer | © 2025 Maravai LifeSciences 2 Forward Looking Statements and Use of Non-GAAP Fin ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 001-39725 Maravai LifeSciences Holdings, Inc. (Exact name of registrant as specified in its char ...

Maravai LifeSciences First Quarter 2025 Financial Results [Financial Performance Summary](index=1&type=section&id=Financial%20Performance%20Summary) Maravai LifeSciences reported Q1 2025 revenue of $46.9 million, a 27% decrease, with a net loss of $52.9 million and negative Adjusted EBITDA, exceeding guidance but reaffirming full-year outlook - First quarter revenue exceeded guidance, and the base business (excluding high-volume CleanCap) grew by over **$4 million** compared to Q4 2024[2](index=2&type=chunk) Q1 2025 Key Financial Metrics | Metric | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | $46.9M | $64.2M | (27.0)% | | **Net Loss** | $(52.9)M | $(22.7)M | N/A | | **Adjusted EBITDA** | $(10.5)M | $7.8M | N/A | Q1 2025 Revenue by Segment (in thousands) | Segment | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | Nucleic Acid Production | $28,750 | $46,016 | (37.5)% | | Biologics Safety Testing | $18,100 | $18,163 | (0.3)% | | **Total Revenue** | **$46,850** | **$64,179** | **(27.0)%** | - Full-year 2025 revenue guidance is maintained at **$185.0 million to $205.0 million**, which excludes potential revenue from high-volume CleanCap orders for commercial phase vaccine programs[7](index=7&type=chunk)[8](index=8&type=chunk) [Consolidated Statements of Operations](index=3&type=section&id=Consolidated%20Statements%20of%20Operations) Maravai's Q1 2025 Consolidated Statement of Operations shows revenue of $46.9 million, a $49.2 million operating loss, and a $29.9 million net loss, impacted by a $12.4 million goodwill impairment Consolidated Statements of Operations Highlights (in thousands, except per share data) | Line Item | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Revenue | $46,850 | $64,179 | | Total operating expenses | $96,012 | $83,040 | | Goodwill impairment | $12,435 | $— | | Loss from operations | $(49,162) | $(18,861) | | Net loss | $(52,853) | $(22,680) | | Net loss per Class A share | $(0.21) | $(0.09) | [Non-GAAP Financial Measures and Reconciliations](index=4&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliations) This section presents non-GAAP financial metrics, including a Q1 2025 Adjusted EBITDA of negative $10.5 million and an Adjusted fully diluted loss per share of $(0.08), used by management to assess core operating performance - Management uses non-GAAP measures like Adjusted EBITDA and Adjusted EPS to understand core operating performance, trends, and to facilitate period-to-period comparisons[19](index=19&type=chunk) [Reconciliation of Net Loss to Adjusted EBITDA](index=4&type=section&id=Reconciliation%20of%20Net%20Loss%20to%20Adjusted%20EBITDA) The company reconciled a Q1 2025 GAAP net loss of $52.9 million to a non-GAAP Adjusted EBITDA of $(10.5) million, with key adjustments including goodwill impairment and stock-based compensation Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | Line Item | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Net loss** | **$(52,853)** | **$(22,680)** | | Amortization & Depreciation | $12,723 | $11,655 | | Interest expense, net | $3,553 | $3,654 | | Income tax expense | $162 | $271 | | **EBITDA** | **$(36,415)** | **$(7,100)** | | Stock-based compensation | $10,403 | $12,057 | | Goodwill impairment | $12,435 | $— | | Other adjustments | $2,928 | $2,838 | | **Adjusted EBITDA (non-GAAP)** | **$(10,549)** | **$7,795** | [Reconciliation of Net Loss to Adjusted Net Loss and Adjusted EPS](index=5&type=section&id=Reconciliation%20of%20Net%20Loss%20to%20Adjusted%20Net%20Loss%20and%20Adjusted%20EPS) Maravai reported a Q1 2025 Adjusted Net Loss of $20.4 million, resulting in an Adjusted Fully Diluted Loss Per Share of $(0.08), after adjusting for specific non-recurring items Adjusted Net Loss and EPS (non-GAAP) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Adjusted net loss (in thousands) | $(20,436) | $(5,368) | | Adjusted fully diluted loss per share | $(0.08) | $(0.02) | [Explanatory Notes and Definitions](index=5&type=section&id=Explanatory%20Notes%20and%20Definitions) This section defines non-GAAP measures like Adjusted EBITDA and Adjusted Net Loss, detailing specific adjustments such as a $12.4 million goodwill impairment and acquisition-related costs - A goodwill impairment charge of **$12.4 million** was recorded for the Nucleic Acid Production segment[15](index=15&type=chunk) - Adjusted EBITDA is defined as net income (loss) adjusted for interest, taxes, depreciation, amortization, and other specific items like acquisition costs, stock-based compensation, and impairment charges[17](index=17&type=chunk) - Retention payments related to the MyChem acquisition concluded in Q1 2024. Retention payments for the Alphazyme acquisition will continue through December 31, 2025[14](index=14&type=chunk) [Forward-Looking Statements and Risk Factors](index=9&type=section&id=Forward-Looking%20Statements%20and%20Risk%20Factors) This section outlines forward-looking statements and significant risk factors, including customer demand fluctuations, CleanCap® sales dependency, competition, supply chain vulnerabilities, and debt-related risks - Key business risks include significant fluctuations in operating results, dependency on customer spending, and uncertainty regarding revenue from high-volume CleanCap® sales for commercial vaccines[24](index=24&type=chunk) - The company faces competition from larger life science and pharmaceutical companies that could render its technology obsolete[24](index=24&type=chunk) - Operational and financial risks include reliance on a limited number of suppliers, product liability lawsuits, ability to service debt, and potential conflicts of interest due to its 'controlled company' status and Tax Receivable Agreement (TRA)[25](index=25&type=chunk)[26](index=26&type=chunk)

SAN DIEGO, Calif., May 12, 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 first quarter ended March 31, 2025, together with other business updates. Financial Highlights: Quarterly revenue of $46.9 million, Net loss of $(52.9) million (including a goodwill impairment of $12.4 million), and Adjusted EBITDA of $(10.5) million; andRevenue ...

Core Viewpoint - A class action securities lawsuit has been filed against Maravai LifeSciences Holdings, Inc. for alleged securities fraud affecting investors between August 7, 2024, and February 24, 2025 [1][2]. Group 1: Allegations and Company Issues - The lawsuit claims that Maravai lacked adequate internal controls over financial reporting related to revenue recognition [2]. - It is alleged 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 positive statements about the Company's business and prospects [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the relevant time frame have until May 5, 2025, to request to be appointed as lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and is recognized as one of the top securities litigation firms in the United States [4].

SAN FRANCISCO, May 05, 2025 (GLOBE NEWSWIRE) -- Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) reported its fourth-quarter 2024 earnings, missing analyst expectations and prompting a significant downward revision of its price target by at least one firm. The company is also facing a securities class action lawsuit alleging improper accounting. Hagens Berman is investigating the alleged claims and urges Maravai investors who suffered substantial losses to submit your losses now. Class Period: Aug. 7, 202 ...

Core Viewpoint - A class action securities lawsuit has been filed against Maravai LifeSciences Holdings, Inc. alleging securities fraud that affected investors between August 7, 2024, and February 24, 2025 [1][2]. Group 1: Allegations - The lawsuit claims that Maravai LifeSciences lacked adequate internal controls over financial reporting related to revenue recognition [2]. - It is alleged that the Company inaccurately recognized revenue on certain transactions during fiscal 2024 [2]. - The complaint also states that the goodwill of the Company was overstated, leading to materially misleading positive statements about its business and operations [2]. Group 2: Legal Process - Investors who suffered losses during the specified timeframe have until May 5, 2025, to request to be appointed as lead plaintiff [3]. - Participation in the lawsuit does not require serving as a lead plaintiff, and there are no out-of-pocket costs for class members [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and is recognized as one of the top securities litigation firms in the United States [4].

Core Viewpoint - A class action securities lawsuit has been filed against Maravai LifeSciences Holdings, Inc. for alleged securities fraud affecting investors between August 7, 2024, and February 24, 2025 [1][2]. Group 1: Allegations - The lawsuit claims that Maravai LifeSciences lacked adequate internal controls over financial reporting related to revenue recognition [2]. - It is alleged 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 positive statements about the company's business and prospects [2]. Group 2: Legal Process - Investors who suffered losses during the specified timeframe have until May 5, 2025, to request to be appointed as lead plaintiff [3]. - Participation in the lawsuit does not require serving as a lead plaintiff, and class members may be entitled to compensation without any out-of-pocket costs [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4].