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Maravai Lifesciences Holdings (MRVI)
NASDAQ:MRVI
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Maravai Lifesciences Holdings
(NASDAQ:MRVI)
Rating:47Neutral
Price Target:
$2.00
▼(-11.11%Downside)
Positive Factors
Earnings
A modest beat was achieved due to better than expected BST results and a strong quarter in China.
Market Expansion
Europe and APAC ex-China are expected to be BST growth opportunities, indicating potential market expansion.
Negative Factors
Financial Performance
Adjusted gross margin came in below expectations due to an unfavorable product mix in the NAP segment.
Operational Challenges
The business faces a $66M high-volume CleanCap headwind and sluggish base business growth.
Revenue Decline
The year-over-year decline in NAP revenue was driven by the absence of high-volume CleanCap orders in the quarter.
Maravai Lifesciences Holdings (MRVI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$603.54M
Dividend YieldN/A
Average Volume (3M)1.75M
Price to Earnings (P/E)―
Beta (1Y)1.47
Revenue Growth-11.76%
EPS Growth-15.82%
CountryUS
Employees570
SectorHealthcare
Sector Strength41
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.08
Shares Outstanding143,975,430
10 Day Avg. Volume1,466,627
30 Day Avg. Volume1,753,890
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)0.86
Price to Sales (P/S)0.00
P/FCF Ratio-12.56
Enterprise Value/Market Cap0.56
Enterprise Value/Revenue0.31
Enterprise Value/Gross Profit3.35
Enterprise Value/Ebitda0.19
Forecast
1Y Price Target
$5.94Price Target Upside164.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
Maravai Lifesciences Holdings Business Overview & Revenue Model
Company DescriptionMaravai Lifesciences Holdings (MRVI) is a biotechnology company that provides critical products and services to enable the development of drug therapies, diagnostics, and novel vaccines. The company operates in sectors such as biopharmaceutical development and life sciences research. Its core products include nucleic acid production, biologics safety testing, and protein labeling, which are essential for advancing scientific research and medical breakthroughs.
How the Company Makes MoneyMaravai Lifesciences Holdings generates revenue through the production and sale of specialized reagents and services that support biopharmaceutical development and life sciences research. The company's key revenue streams include sales of nucleic acids used in mRNA vaccine production and other therapeutic applications, as well as biologics safety testing services and protein labeling products. Maravai collaborates with major pharmaceutical and biotechnology companies, leveraging significant partnerships to enhance its market presence and drive sales. The company's earnings are influenced by the growing demand for innovative medical treatments and the ongoing advancements in biotechnological research.
Maravai Lifesciences Holdings Key Performance Indicators (KPIs)
Any
Adjusted EBITDA by Segment
Evaluates profitability across business segments by excluding non-operational expenses, providing a clearer view of operational efficiency and segment performance.
Evaluates profitability across business segments by excluding non-operational expenses, providing a clearer view of operational efficiency and segment performance.
Data provided by:
Main Street Data
Main Street DataMaravai Lifesciences Holdings Earnings Call Summary
Earnings Call Date:May 12, 2025
(Q1-2025)
| % Change Since: 6.13%|
Next Earnings Date:Aug 12, 2025
Earnings Call Sentiment Neutral
The earnings call presented both positive developments, such as exceeding revenue expectations and innovations in mRNA technologies, and significant challenges, like increased net loss and profitability concerns. The company's focus on growth and innovation is promising, but financial setbacks and potential geopolitical risks in China add complexity to the overall outlook.Q1-2025 Updates
Positive Updates
Revenue Exceeds Expectations
Maravai LifeSciences reported $47 million in revenue for Q1 2025, surpassing the expected range and showing base business growth of more than $4 million from Q4 2024.
Nucleic Acid Production Segment Growth
The Nucleic Acid Production (NAP) segment reported $29 million in revenue for Q1, an increase from Q4 2024, highlighting growth in the segment.
Biologic Safety Testing Segment Stability
The Biologic Safety Testing (BST) segment reported $18 million in revenue for Q1, maintaining stability compared to Q1 2024.
Innovations in mRNA Technology
Launch of the Poly(A+) line to enhance mRNA performance, including a proprietary toolkit of Poly(A) tail modifications to protect and enhance mRNA molecules.
New License and Supply Agreements
Five new CleanCap license and supply agreements were signed, bringing the total to 48, indicating strong market adoption.
Negative Updates
Negative Adjusted EBITDA
Adjusted EBITDA was negative $11 million for Q1 2025, compared to a positive $8 million in Q1 2024, indicating profitability challenges.
Increased GAAP Net Loss
GAAP net loss before noncontrolling interests was $53 million in Q1 2025, compared to a $23 million loss in Q1 2024.
Challenges in China Market
With $3.8 million of BST revenue from China, there are ongoing efforts to mitigate impacts from potential tariffs, reflecting geopolitical risks.
Dependence on Base Business
No guaranteed purchase orders for high-volume CleanCap from top customers, suggesting reliance on base business without high-volume orders.
Company Guidance
During the Maravai LifeSciences Q1 2025 earnings call, the company reported $47 million in revenue, surpassing expectations and reflecting a base business growth of over $4 million from Q4 2024. Revenue was predominantly generated from the Nucleic Acid Production (NAP) segment at $29 million and the Biologic Safety Testing (BST) segment at $18 million. The call highlighted customer type revenue distribution: 29% biopharma, 28% life sciences and diagnostics, 6% academia, 7% CDMO, and 30% through distributors. Geographically, revenue was distributed as 62% from North America, 15% from EMEA, 15% from Asia Pacific, and 8% from China. Adjusted EBITDA was negative $11 million, with a GAAP net loss of $53 million. Despite challenges, the company reaffirmed its annual revenue guidance of $185 million to $205 million, highlighting strategic investments and a keen focus on expanding its market leadership in genomic medicines. The company also addressed potential impacts from tariffs, emphasizing its primarily U.S.-based supply chain and recent acquisitions to bolster vertical integration.Maravai Lifesciences Holdings Financial Statement Overview
Summary
Maravai Lifesciences Holdings faces significant financial challenges as evidenced by declining revenues, profitability, and cash flows. Despite a strong cash position and reduced leverage, the company needs to address its revenue and profitability issues to improve its financial health. The biotechnology industry is competitive, and the company must navigate these challenges to stabilize and grow.Income Statement
The income statement shows a concerning decline in revenue and profitability. Total revenue decreased from $883 million in 2022 to $259 million in 2024, indicating significant revenue contraction. Gross profit margin also declined, and the company reported negative EBIT and net income in 2024, reflecting operational and profitability challenges.45
Neutral
Balance Sheet
The balance sheet is moderately stable with some concerns. The debt-to-equity ratio improved from 1.42 in 2023 to 0.11 in 2024, indicating reduced leverage. However, ROE is negative due to net losses, and the equity ratio has decreased over the years. The company's cash position is strong, but the overall asset base is shrinking.55
Neutral
Cash Flow
Cash flow analysis reveals declining free cash flow, which dropped from $607 million in 2023 to a negative $22 million in 2024, signaling potential liquidity issues. The operating cash flow to net income ratio is low, suggesting inefficiency in converting net income to cash flow. However, operating cash flows remain positive, providing some cushion.50
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 259.19M | 288.94M | 883.00M | 799.24M | 284.10M | Gross Profit |
| 108.31M | 140.20M | 714.04M | 658.68M | 204.45M | EBIT |
| -235.62M | -31.65M | 574.22M | 554.64M | 67.60M | EBITDA |
| -156.92M | 712.41M | 609.99M | 585.78M | 138.27M | Net Income Common Stockholders |
| -144.85M | -119.03M | 490.66M | 469.25M | 76.89M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 322.40M | 574.96M | 632.14M | 551.27M | 236.18M | Total Assets |
| 1.01B | 1.49B | 2.28B | 1.92B | 1.27B | Total Debt |
| 376.69M | 610.97M | 585.26M | 534.31M | 590.78M | Net Debt |
| 54.29M | 36.01M | -46.88M | -16.96M | 354.60M | Total Liabilities |
| 431.04M | 697.57M | 1.38B | 1.37B | 1.12B | Stockholders Equity |
| 325.29M | 416.75M | 545.22M | 315.50M | 88.51M |
| Cash Flow | Free Cash Flow | |||
| -22.19M | 60.67M | 518.89M | 353.72M | 126.78M | Operating Cash Flow |
| 7.46M | 126.22M | 535.98M | 368.57M | 152.19M | Investing Cash Flow |
| -24.32M | -122.31M | -267.61M | 105.66M | 6.07M | Financing Cash Flow |
| -234.47M | -61.09M | -187.50M | -159.05M | 53.21M |
Maravai Lifesciences Holdings Technical Analysis
Positive
2.25
Price Trends
2.09
Positive
3.15
Negative
5.19
Negative
Market Momentum
0.04
Negative
59.35
Neutral
68.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MRVI, the sentiment is Positive. The current price of 2.25 is above the 20-day moving average (MA) of 2.14, above the 50-day MA of 2.09, and below the 200-day MA of 5.19, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 59.35 is Neutral, neither overbought nor oversold. The STOCH value of 68.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MRVI.
Maravai Lifesciences Holdings Risk Analysis
Maravai Lifesciences Holdings disclosed 75 risk factors in its most recent earnings report. Maravai Lifesciences Holdings reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Maravai Lifesciences Holdings Peers Comparison
Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $737.25M | ― | -6.33% | ― | 23.92% | -27.69% | |
53 Neutral | $5.20B | 3.32 | -45.04% | 2.84% | 16.81% | -0.31% | |
49 Neutral | $778.76M | ― | -69.21% | ― | -13.76% | 57.73% | |
48 Neutral | $514.82M | ― | 34.94% | ― | ― | ― | |
47 Neutral | $603.54M | ― | -45.75% | ― | -11.76% | -15.82% | |
46 Neutral | $831.16M | ― | -24.47% | ― | ― | 68.93% | |
37 Underperform | $627.35M | ― | -84.04% | ― | ― | -2.53% |
* Healthcare Sector Average
Performance Comparison
MRVI
Maravai Lifesciences Holdings
2.25
-6.50
-74.29%
COGT
Cogent Biosciences
5.44
-2.94
-35.08%
IMNM
Immunome
8.76
-5.83
-39.96%
PHAR
Pharming Group
10.90
1.66
17.97%
LENZ
LENZ Therapeutics
29.20
14.12
93.63%
BCAX
Bicara Therapeutics Inc.
9.25
-16.16
-63.60%
Maravai Lifesciences Holdings Corporate Events
Executive/Board ChangesShareholder Meetings
Maravai Lifesciences Holds Annual Shareholders Meeting
Neutral
May 28, 2025
On May 22, 2025, Maravai LifeSciences Holdings, Inc. conducted its Annual Meeting of Shareholders. During the meeting, shareholders elected directors for three-year terms, ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for 2025, and approved the compensation of the company’s named executive officers on a non-binding advisory basis.
The most recent analyst rating on (MRVI) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Maravai Lifesciences Holdings stock, see the MRVI Stock Forecast page.
Business Operations and StrategyFinancial Disclosures
Maravai Lifesciences Projects 2025 Revenue and Expenses
Neutral
Mar 20, 2025
On March 20, 2025, Maravai LifeSciences Holdings announced its financial guidance for the full year 2025 during a conference call. The company expects its revenue for 2025 to range between $185.0 million and $205.0 million, with first-quarter revenue projected between $43.0 million and $45.0 million. The guidance includes anticipated expenses such as interest, depreciation, and stock-based compensation, and estimates capital expenditures between $15.0 million and $20.0 million. This announcement provides insights into Maravai’s expected financial performance and strategic planning for the upcoming year.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.