Core Insights - Maravai LifeSciences Holdings, Inc. announced organizational restructuring and cost reduction initiatives aimed at achieving over $50 million in annualized savings [1][4] - The company reported a 5% year-over-year growth in quarterly base business revenue, excluding high-volume CleanCap revenue [1][3] - Maravai expects to reduce net loss, achieve positive adjusted EBITDA, and generate positive free cash flow by the second half of 2026 [1] Financial Performance - For the second quarter of 2025, total revenue was $47.4 million, a 31.7% decrease from $69.4 million in the same period of 2024 [5][8] - Nucleic Acid Production revenue decreased by 43.1% year-over-year to $31.1 million, primarily due to a lack of high-volume CleanCap orders [5][13] - Biologics Safety Testing revenue increased by 9.9% year-over-year to $16.3 million, driven by demand for Host Cell Protein kits and MockV viral clearance kits [5][13] Leadership Changes - Bernd Brust was appointed as the new CEO, and Raj Asarpota was appointed as CFO to enhance the company's innovation and financial performance [7] - The leadership team is conducting a comprehensive business review and will reinstate revenue guidance once the process is complete [10] Cost Management - The company anticipates incurring restructuring charges of approximately $8.0 million to $9.0 million, mainly related to employee severance and benefits [11] - Actions taken to align the cost structure with operational needs include labor, facilities, capital expenditures, and productivity initiatives [4] Future Outlook - Maravai has suspended its revenue guidance for 2025 as the new leadership team assesses the business [10] - The company aims to return to profitability and strengthen its operational focus for customers, employees, and shareholders [4]