Maravai Q2 revenue $68.9M, down 72%; net loss $11.9M; CEO transition to Trey Martin

MARAVAI LIFESCIENCES HOLDINGS, INC.

2023-Q2 EPS reported -$0.05 revenue$147,939,000

Revenue $68.9M, down 71.6% YoY; net loss $(11.9)M vs net income $156.7M prior year.
Nucleic Acid Production revenue $53.3M (-76.4%), including $11.6M CleanCap; Biologics Safety Testing $15.6M (-10.5%).
Appointed Trey Martin as CEO effective July 27, 2023; Carl Hull remains Executive Chair.
Took occupancy of new 32,000-sq-ft cGMP mRNA facility in San Diego; expanded enzyme R&D in Florida.
Updated 2023 financial guidance conservatively; no specific numbers provided in filing.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MARAVAI LIFESCIENCES HOLDINGS, INC. updated its the full year 2023 guidance (lowered).

Period: the full year 2023
Guidance: lowered
Result: guidance update

Exact text from the filing

we are taking a more conservative view of our financial guidance for the full year

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MARAVAI LIFESCIENCES HOLDINGS, INC. reported the six months ended June 30, 2023 results: revenue $147.9 million, net income Net loss ... $(13.3) million. Guidance reaffirmed.

Period: the six months ended June 30, 2023
Revenue: $147.9 million
Net income: Net loss ... $(13.3) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Revenue for the six months ended June 30, 2023 was $147.9 million, representing a 70% decrease over the same period in the prior year

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MARAVAI LIFESCIENCES HOLDINGS, INC. reported the second quarter ended June 30, 2023 results: revenue $68.9 million, net income Net loss of $(11.9) million. Guidance reaffirmed.

Period: the second quarter ended June 30, 2023
Revenue: $68.9 million
Net income: Net loss of $(11.9) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

innovators, today reported financial results for the second quarter ended June 30, 2023, together with other business updates. Recent highlights include: • Quarterly revenue of $68.9 million, Net loss of $(11.9) million, and Adjusted EBITDA margin of 13.2%; • Completed planned leadership transition with the appointment of Trey Martin as CEO effective July 27, 2023,

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Source: SEC EDGAR

accession 0001823239-23-000079

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