MRVI

MKT CAP:$984M

Maravai LifeSciences Holdings, Inc.

Market Cap

$984M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$3.69+$0.29 (+8.53%)

Apr 22, 2026

Company Details

Maravai LifeSciences Holdings, Inc., a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases in the United States and internationally. The c...

CEO

Bernd Brust

IPO Date

Nov 20, 2020

Website

www.maravai.com

Key Metrics TTM

Revenue

$218M

-23.2% YoY

Net Income

-$89M

EPS (Diluted)

-$0.63

Free Cash Flow

-$45M

Revenue / Share

$1.51

Gross Margin

30.9%

Operating Margin

8.5%

Net Margin

-40.9%

FCF Margin

-20.8%

P/S

4.5x

P/E

—

Earnings Reports

Q4 2025

May 11, 2026

PENDING

FY 2025

Feb 26, 2026

$186MEPS -$0.91

Q3 2025

Nov 7, 2025

$42MEPS -$0.18

Q1 2025

May 12, 2025

$47M-27.0%EPS -$0.21

Q4 2024

Mar 18, 2025

$56M-23.9%EPS -$0.18

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 20	$88M	$68M	$46M
Q2 21	$218M	$180M	$154M
Q3 21	$205M	$173M	$155M
Q1 23	$79M	$45M	$3M
Q3 23	$67M	$30M	-$15M
Q4 23	$74M	$39M	-$7M
Q1 24	$64M	$26M	-$19M
Q2 24	$73M	$35M	-$10M
Q4 24	$56M	$19M	-$38M
Q1 25	$47M	$8M	-$49M
Q3 25	$42M	$6M	$115M

Valuation

Quarter	P/S	P/E
Q3 20	—	—
Q2 21	—	—
Q3 21	—	—
Q1 23	5.8x	24.0x
Q3 23	4.3x	25.2x
Q4 23	4.1x	—
Q1 24	7.6x	—
Q2 24	6.3x	—
Q4 24	5.5x	—
Q1 25	2.4x	—
Q3 25	3.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 20	$51M	$41M
Q2 21	$166M	$161M
Q3 21	$106M	$104M
Q1 23	$85M	$77M
Q3 23	$14M	-$2M
Q4 23	$8M	-$9M
Q1 24	-$8M	-$14M
Q2 24	$17M	$8M
Q4 24	-$15M	-$20M
Q1 25	-$9M	-$15M
Q3 25	-$15M	-$18M

Capital Expenditures

Quarter	CapEx
Q3 20	$10M
Q2 21	$5M
Q3 21	$1M
Q1 23	$8M
Q3 23	$16M
Q4 23	$17M
Q1 24	$6M
Q2 24	$10M
Q4 24	$6M
Q1 25	$5M
Q3 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 23	-23.9%	+95.3%
Q4 23	-66.0%	+26.5%
Q1 24	-68.7%	+68.0%
Q2 24	-7.1%	+8.4%
Q4 24	-15.6%	+14.9%
Q1 25	-36.8%	+18.1%
Q3 25	-35.1%	-188.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 20	$2M	2.1%
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q1 23	$6M	7.6%
Q3 23	$10M	14.9%
Q4 23	$0	0.0%
Q1 24	$12M	18.8%
Q2 24	$14M	18.8%
Q4 24	$11M	18.7%
Q1 25	$10M	22.2%
Q3 25	$9M	21.8%

OpEx Breakdown

Quarter	R&D	SG&A
Q3 20	$2M	$21M
Q2 21	$2M	$25M
Q3 21	$2M	$27M
Q1 23	$4M	$39M
Q3 23	$4M	$39M
Q4 23	$5M	$38M
Q1 24	$5M	$41M
Q2 24	$5M	$41M
Q4 24	$5M	$41M
Q1 25	$5M	$40M
Q3 25	$10M	$78M

Revenue Segments

Quarter	Biologics Safety Testing Segment	Nucleic Acid Production Segment	Protein Detection Segment
Q2 21	$18M	$193M	$7M
Q3 21	$17M	$183M	$5M
Q1 23	$18M	$61M	—
Q3 23	$16M	$51M	—
Q4 23	$15M	$59M	—
Q1 24	$18M	$46M	—
Q2 24	$15M	$58M	—
Q1 25	$18M	$29M	—
Q3 25	$16M	$25M	—

Revenue by Geography

Quarter	Asia Pacific	Emea	Latin And Central America	North America
Q3 23	$25M	$8M	$105.0K	$35M
Q1 24	$21M	$9M	$307.0K	$33M
Q2 24	$23M	$18M	$120.0K	$32M
Q1 25	$11M	$7M	$146.0K	$29M
Q3 25	$8M	$8M	$296.0K	$25M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$431M	$0	$431M
Q2 22	$551M	$0	$551M
Q3 22	$617M	$0	$617M
Q4 22	$632M	$0	$632M
Q1 23	$628M	$0	$628M
Q2 23	$580M	$0	$580M
Q3 23	$580M	$0	$580M
Q4 23	$575M	$0	$575M
Q1 24	$562M	$0	$562M
Q2 24	$573M	$0	$573M
Q3 24	$578M	$0	$578M
Q4 24	$322M	$0	$322M
Q1 25	$285M	$0	$285M
Q2 25	$270M	$0	$270M
Q3 25	$244M	$0	$244M
Q4 25	$217M	$0	$217M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 20	89M	—	—
Q2 21	112M	+26.2%	—
Q3 21	122M	+8.6%	—
Q1 23	132M	+8.0%	—
Q3 23	132M	+0.1%	+48.3%
Q4 23	132M	+0.2%	+17.7%
Q1 24	132M	+0.1%	+8.5%
Q2 24	136M	+2.7%	+3.1%
Q4 24	140M	+2.9%	+5.9%
Q1 25	143M	+2.6%	+8.5%
Q3 25	145M	+0.9%	+9.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 20	—	—
Q2 21	$531.2K	410
Q3 21	$499.5K	410
Q1 23	$129.5K	610
Q3 23	$109.6K	610
Q4 23	$114.1K	650
Q1 24	$98.7K	650
Q2 24	$112.9K	650
Q4 24	$99.0K	570
Q1 25	$82.2K	570
Q3 25	$73.0K	570

Revenue / Employee