Maravai Q1 2025 Earnings Report
Key Takeaways
Maravai LifeSciences reported first-quarter 2025 revenue of $46.9 million, exceeding guidance. However, the company experienced a net loss of $(52.9) million and negative Adjusted EBITDA of $(10.5) million, primarily due to a lack of high-volume CleanCap orders and lower research product demand in Nucleic Acid Production, as well as a goodwill impairment charge.
First quarter 2025 revenue was $46.9 million, a 27.0% decrease year-over-year.
Nucleic Acid Production revenue decreased by 37.5% year-over-year to $28.8 million.
Biologics Safety Testing revenue was relatively flat year-over-year at $18.1 million.
Reported a net loss of $(52.9) million and Adjusted EBITDA of $(10.5) million for the quarter.
Maravai
Maravai
Maravai Revenue by Segment
Forward Guidance
Maravai's revenue guidance for the full year 2025 remains unchanged in the range of $185.0 million to $205.0 million. This guidance is based on expectations for the existing base business and excludes potential high-volume CleanCap orders for commercial vaccine programs or potential new acquisitions.
Positive Outlook
- First quarter revenue exceeded guidance range.
- Base business revenue grew compared to the fourth quarter of 2024.
- Commitment to return-to-growth strategy.
- Customer focus, differentiated technologies, and GMP services support clients from discovery through commercialization.
- Positioned to navigate the evolving landscape and drive long-term value.
Challenges Ahead
- Revenue guidance for the full year 2025 does not include revenue from high-volume CleanCap orders for commercial phase vaccine programs.
- Guidance does not include potential new acquisitions.
- Guidance is subject to a number of risks and uncertainties.
- Dynamic and shifting macroeconomic environment.
- Reliance on a limited number of customers for a high percentage of revenue.