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Dec 31, 2021
Maravai Q4 2021 Earnings Report
Reported financial results for the fourth quarter and the full year ended December 31, 2021.
Key Takeaways
Maravai LifeSciences reported a strong fourth quarter with revenue of $228.4 million, a 132% increase over the prior year, and net income of $127.1 million, representing a 778% growth. The company's full-year revenue reached $799.2 million, up 181% from the previous year.
Fourth quarter 2021 revenue increased 132% over the prior year.
Net income for the fourth quarter grew 778% over the prior year.
Full year 2021 revenue increased 181% over the prior year.
Increased 2022 revenue guidance range to $920.0 million to $960.0 million.
Maravai
Maravai
Maravai Revenue by Segment
Revenue by Segment
Nucleic Acid Production Revenue
CapyFin.comBiologics Safety Testing Revenue
CapyFin.com Forward Guidance
Total revenue for 2022 is expected to be in the range of $920.0 million to $960.0 million, reflecting overall growth of 15% to 20%. Adjusted EBITDA (non-GAAP) is expected to be in the range of $630.0 million to $670.0 million. Adjusted fully diluted EPS (non-GAAP) is expected to be in the range of $1.70 - $1.84 per share. 2022 interest expense is expected to be in the range of $22.0 million to $25.0 million, 2022 depreciation and amortization is expected to be in the range of $22.0 million to $25.0 million, and 2022 equity-based compensation is expected to be in the range of $15.0 million to $20.0 million.
Positive Outlook
- Total revenue for 2022 is expected to be in the range of $920.0 million to $960.0 million
- Overall revenue growth of 15% to 20% is expected.
- Adjusted EBITDA (non-GAAP) is expected to be in the range of $630.0 million to $670.0 million.
- Adjusted fully diluted EPS (non-GAAP) is expected to be in the range of $1.70 - $1.84 per share.
- 2022 interest expense is expected to be in the range of $22.0 million to $25.0 million
Challenges Ahead
- Guidance does not include the financial impact of potential new acquisitions.
- Guidance excludes items that have not yet been identified or quantified.
- Guidance is subject to a number of risks and uncertainties.
- Maravai cannot provide guidance for the most closely comparable GAAP measures or reconciliations for the non-GAAP financial measures included in the 2022 guidance above because we are unable to provide a meaningful or accurate calculation or estimation of certain reconciling items without unreasonable effort.
- This is due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, including net income attributable to noncontrolling interest, variations in effective tax rate, expenses to be incurred for acquisition activities, and the diluted weighted average number of shares of Class A common stock outstanding for the applicable period from potential proforma exchanges of outstanding Maravai Topco Holdings, LLC units (paired with shares of Class B common stock) for shares of Class A common stock.
Revenue & Expenses
Visualization of income flow from segment revenue to net income