Maravai Q2 2024 Earnings Report
Key Takeaways
Maravai LifeSciences reported a 6.5% increase in revenue to $73.4 million for Q2 2024, driven by growth in Nucleic Acid Production. However, the company experienced a net loss of $(14.5) million and an Adjusted EBITDA of $16.9 million, both lower than the previous year. They reaffirmed their full-year revenue guidance of $265.0 million to $285.0 million.
Revenue for the second quarter was $73.4 million, a 6.5% increase year-over-year.
Nucleic Acid Production revenue increased by 9.8% to $58.5 million, driven by higher demand for GMP CleanCap analogs, GMP mRNA, and Glen Research products.
Biologics Safety Testing revenue decreased by 4.7% to $14.9 million due to lower demand trends in China.
Net loss was $(14.5) million and Adjusted EBITDA was $16.9 million for the quarter.
Maravai
Maravai
Maravai Revenue by Segment
Forward Guidance
Maravai reaffirmed its revenue guidance for the full year 2024 in the range of $265.0 million to $285.0 million and expects Adjusted EBITDA margins to be in the range of 20% to 22%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income