Maravai Q3 revenue down 65% to $66.9M, net loss of $15.1M; cuts ~100 jobs to save $30M annually

MARAVAI LIFESCIENCES HOLDINGS, INC.

2023-Q3 EPS reported -$0.10 revenue$214,804,000

Q3 revenue $66.9M (-65% YoY); net loss $15.1M vs net income $99.7M a year ago.
Nucleic Acid Production revenue $51.2M (-71% YoY); COVID-19 CleanCap demand fell $111.6M from prior year.
Cost realignment targets $30M annual savings, workforce reduction of ~15% (~100 employees) with $5M one-time severance.
Full-year 2023 guidance lowered to revenue $275-285M; Adjusted EBITDA margin 18% in Q3.
Partnerships with Thermo Fisher, Intellia, Elixirgen, Precision BioSciences for mRNA cap analogs.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MARAVAI LIFESCIENCES HOLDINGS, INC. reported the third quarter ended September 30, 2023 results: revenue $66.9 million, net income Net loss of $(15.1) million. Guidance reaffirmed.

Period: the third quarter ended September 30, 2023
Revenue: $66.9 million
Net income: Net loss of $(15.1) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

reported financial results for the third quarter ended September 30, 2023, together with other business updates. Recent highlights include: Financial: • Quarterly revenue of $66.9 million, Net loss of $(15.1) million, and Adjusted EBITDA margin of 18%; and • Updated financial guidance for the full year 2023 to a revenue range of $275.0 million to $285.0 million.

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Source: SEC EDGAR

accession 0001823239-23-000087

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