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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.
Maravai
Maravai
Maravai Revenue by Segment
Revenue by Segment
Nucleic Acid Production Revenue
CapyFin.comBiologics Safety Testing Revenue
CapyFin.com 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