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Maravai
🇺🇸 NASDAQ:MRVI
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Jun 30, 2023

Maravai Q2 2023 Earnings Report

Reported a decrease in revenue due to reduced COVID-19 related demand and customer spending constraints, while focusing on expanding product portfolio and market leadership.

Key Takeaways

Maravai LifeSciences reported a 72% decrease in revenue for Q2 2023, totaling $68.9 million, driven by a significant decline in Nucleic Acid Production revenue due to lower COVID-19 related CleanCap demand. The company experienced a net loss of $(11.9) million and an Adjusted EBITDA of $9.1 million. Updated financial guidance for 2023 projects total revenue in the range of $300.0 million to $325.0 million.

Second quarter revenue was $68.9 million.

Net loss was $(11.9) million.

Adjusted EBITDA margin was 13.2%.

Completed leadership transition with Trey Martin as CEO effective July 27, 2023.

Total Revenue
$68.9M
Previous year: $243M
-71.6%
EPS
-$0.06
Previous year: $0.54
-111.1%
Gross Profit
$25.6M
Previous year: $205M
-87.5%
Cash and Equivalents
$580M
Previous year: $551M
+5.4%
Free Cash Flow
-$5.87M
Previous year: $163M
-103.6%
Total Assets
$2.26B
Previous year: $2.17B
+4.3%

Maravai

Maravai

Maravai Revenue by Segment

Forward Guidance

Maravai projects total revenue for 2023 to be in the range of $300.0 million to $325.0 million. Adjusted EBITDA is expected to be in the range of $70.0 million to $80.0 million. Adjusted fully diluted EPS is projected to be between $0.04 and $0.08 per share.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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