Maravai LifeSciences reports Q4 earnings with net loss

Maravai LifeSciences held its earnings call for the fourth quarter of 2024 on March 20, 2025. The company reported a fourth-quarter revenue of $57 million, which met expectations. Total revenue for 2024 was $259 million, roughly in line with forecasts. The delay in the earnings report was due to a mistake in revenue recognition timing and the need for additional time to finalize goodwill assessments on acquisitions. Adjustments were made to earlier quarterly results, shifting some revenue from the second to the third quarter. Despite this, the company received an unqualified opinion from auditors regarding its financial statements. In terms of financial results, Maravai recorded a net loss of $46 million in the fourth quarter, an improvement from a loss of $110 million in the same quarter the previous year. Adjusted EBITDA for the fourth quarter was negative, showing that operational challenges persisted. Looking ahead, Maravai expects its base business, excluding revenues from high-volume CleanCap, to generate between $185 million and $205 million in 2025. The company reported that it has not received firm commitments for CleanCap revenue in the current year, leading to conservative guidance. The CEO highlighted efforts to improve visibility into customer demand through better tracking of clinical trial trends and partnerships with larger customers for more reliable forecasts. Additionally, the company is focused on product innovation, having launched approximately 50 new products in 2024 and looking to further strengthen its market position through recent acquisitions. Maravai plans to maintain a high fixed cost structure to support its operations and capabilities, despite market challenges. The leadership remains optimistic about the future, citing the strong foundation built for long-term growth and the potential in genomic medicine. They committed to ongoing cost management, innovation, and expansion of their customer base.