Maravai Lifesciences Reports First Quarter 2025 Financial Results

Core Insights - Maravai LifeSciences reported a first quarter revenue of $46.9 million, a 27.0% decrease compared to the same period in 2024, primarily due to a decline in nucleic acid production revenue [3][4][8] - The company experienced a net loss of $(52.9) million for the first quarter of 2025, which included a goodwill impairment of $12.4 million [4][11] - Maravai's revenue guidance for the full year 2025 remains unchanged, projected between $185.0 million and $205.0 million [6][7] Financial Performance - Nucleic Acid Production revenue was $28.8 million, reflecting a 37.5% year-over-year decrease, attributed to lower demand for research products and lack of high-volume CleanCap orders [3][8] - Biologics Safety Testing revenue was relatively flat at $18.1 million, showing a slight decrease of 0.3% year-over-year [3][8] - Adjusted EBITDA for the first quarter was $(10.5) million, a significant decline from $7.8 million in the same quarter of 2024 [4][12] Management Commentary - CEO Trey Martin emphasized the company's commitment to a return-to-growth strategy despite a challenging macroeconomic environment, highlighting customer focus and differentiated technologies as key strengths [2][4] - The management plans to navigate the evolving landscape to drive long-term value for the company [2][4] Revenue Guidance - The revenue guidance for 2025 does not include potential revenue from high-volume CleanCap orders or new acquisitions [5][6] - The guidance reflects expectations based on the existing base business and is subject to various risks and uncertainties [5][6] Operational Insights - The total operating expenses for the first quarter were $96.0 million, up from $83.0 million in the prior year, driven by increased costs in various segments [11][12] - The company reported a loss from operations of $(49.2) million for the first quarter, compared to $(18.9) million in the same period last year [11][12]