Maravai restates Q2/Q3 2024 financials due to $3.9M revenue recognition error; Q4 revenue down 24%

MARAVAI LIFESCIENCES HOLDINGS, INC.

Non-reliance on Q2 and Q3 2024 financials; restatement corrects $3.9M revenue timing error.
Q4 revenue $56.6M (-23.7% YoY); Adjusted EBITDA loss of $1.1M vs +$20.5M a year ago.
Full year 2024 revenue $259.2M (-10.3% YoY); net loss $259.6M includes $166M goodwill impairment.
Voluntarily prepaid $228M of Term Loan with cash; year-end cash $322M.
Appointed healthcare industry veteran R. Andrew Eckert as independent Chairman.

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