Maravai LifeSciences (MRVI) Financials

$3.94 0.00 (0.00%)

Closing price 05/7/2026 04:00 PM Eastern

Extended Trading

$4.03 +0.09 (+2.16%)

As of 07:01 AM Eastern

Annual Income Statements for Maravai LifeSciences

This table shows Maravai LifeSciences' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-4.47	89	182	220	-119	-145	-131
Consolidated Net Income / (Loss)	-5.20	79	469	491	-138	-260	-231
Net Income / (Loss) Continuing Operations	-5.20	79	469	491	-138	-260	-231
Total Pre-Tax Income	-5.85	82	531	551	618	-261	-235
Total Operating Income	24	120	555	574	-32	-236	-215
Total Gross Profit	76	204	659	714	140	108	34
Total Revenue	143	284	799	883	289	259	186
Operating Revenue	143	284	799	883	289	259	186
Total Cost of Revenue	67	80	141	169	149	151	152
Operating Cost of Revenue	67	80	141	169	149	151	152
Total Operating Expenses	52	85	104	140	172	344	249
Selling, General & Admin Expense	48	94	100	129	151	162	145
Research & Development Expense	3.63	9.30	15	18	17	19	17
Impairment Charge	-	-	-	0.00	0.00	166	69
Restructuring Charge	-	-	0.00	0.00	6.47	-1.21	18
Other Special Charges / (Income)	0.32	0.00	0.00	-7.80	-3.29	-2.00	0.20
Total Other Income / (Expense), net	-30	-38	-24	-19	649	-26	-20
Interest Expense	30	38	30	21	46	51	27
Interest & Investment Income	-	0.00	0.00	2.34	28	27	11
Other Income / (Expense), net	0.12	0.13	6.38	-0.36	668	-2.38	-4.15
Income Tax Expense	-0.65	2.88	62	61	756	-1.86	-4.21
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.73	-10	287	270	-19	-115	-100
Basic Earnings per Share	($0.03)	$7.43	$1.59	$1.67	($0.90)	($1.05)	($0.90)
Weighted Average Basic Shares Outstanding	253.92M	10.35M	114.79M	131.55M	131.92M	137.91M	144.36M
Diluted Earnings per Share	($0.03)	$2.36	$1.56	$1.67	($0.90)	($1.05)	($0.90)
Weighted Average Diluted Shares Outstanding	253.92M	28.91M	257.80M	255.32M	131.92M	137.91M	144.36M
Weighted Average Basic & Diluted Shares Outstanding	-	-	255.16M	250.88M	251.40M	254.34M	257.07M

This table shows Maravai LifeSciences' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-6.54	-6.46	-106	-12	-9.79	-97	-26	-30	-40	-26	-36
Consolidated Net Income / (Loss)	-12	-15	-110	-23	-18	-172	-46	-53	-70	-45	-63
Net Income / (Loss) Continuing Operations	-12	-15	-110	-23	-18	-172	-46	-53	-70	-45	-63
Total Pre-Tax Income	-13	-21	656	-22	-21	-172	-47	-53	-74	-45	-63
Total Operating Income	-12	-15	-7.15	-19	-13	-166	-38	-49	-66	-41	-59
Total Gross Profit	26	30	39	26	31	32	19	7.73	7.77	5.66	13
Total Revenue	69	67	74	64	69	69	56	47	47	42	50
Operating Revenue	69	67	74	64	69	69	56	47	47	42	50
Total Cost of Revenue	43	37	35	38	39	37	37	39	40	36	37
Operating Cost of Revenue	43	37	35	38	39	37	37	39	40	36	37
Total Operating Expenses	37	46	46	45	44	198	57	57	74	47	72
Selling, General & Admin Expense	35	39	38	41	41	39	41	40	39	35	32
Research & Development Expense	4.19	4.35	4.59	5.03	4.92	4.70	4.56	4.89	4.88	3.84	3.79
Impairment Charge	-	0.00	-	0.00	0.00	154	-	12	30	0.00	26
Restructuring Charge	0.00	0.00	6.47	-1.21	-0.00	-0.00	0.01	0.00	0.00	7.39	10
Total Other Income / (Expense), net	-1.75	-5.15	663	-3.55	-7.42	-6.49	-8.37	-3.53	-7.85	-4.12	-4.21
Interest Expense	7.02	12	15	11	12	14	14	6.78	6.82	6.84	6.56
Interest & Investment Income	6.79	7.43	7.46	7.21	7.09	7.07	6.04	3.23	3.03	2.80	2.38
Other Income / (Expense), net	-1.52	-0.94	671	0.11	-2.56	0.07	0.04	0.02	-4.06	-0.07	-0.04
Income Tax Expense	-1.42	-5.46	766	0.27	-2.44	0.31	-0.01	0.16	-4.29	-0.09	0.01
Net Income / (Loss) Attributable to Noncontrolling Interest	-5.40	-8.64	-4.02	-11	-8.63	-75	-20	-23	-30	-20	-27
Basic Earnings per Share	($0.05)	($0.05)	($0.80)	($0.09)	($0.07)	($0.68)	($0.21)	($0.21)	($0.27)	($0.18)	($0.24)
Weighted Average Basic Shares Outstanding	131.86M	131.93M	131.92M	132.33M	135.84M	141.56M	137.91M	143.43M	144.24M	144.68M	144.36M
Diluted Earnings per Share	($0.05)	($0.05)	($0.80)	($0.09)	($0.07)	($0.68)	($0.21)	($0.21)	($0.27)	($0.18)	($0.24)
Weighted Average Diluted Shares Outstanding	131.86M	131.93M	131.92M	132.33M	135.84M	141.56M	137.91M	143.43M	144.24M	144.68M	144.36M
Weighted Average Basic & Diluted Shares Outstanding	251.02M	251.28M	251.40M	251.92M	252.24M	252.53M	254.34M	254.66M	255.36M	255.71M	257.07M

This table details how cash moves in and out of Maravai LifeSciences' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	2.83	211	315	81	-57	-253	-106
Net Cash From Operating Activities	24	152	369	536	126	7.47	-58
Net Cash From Continuing Operating Activities	24	152	369	536	126	7.47	-58
Net Income / (Loss) Continuing Operations	-5.20	79	469	491	-138	-260	-231
Consolidated Net Income / (Loss)	-5.20	79	469	491	-138	-260	-231
Depreciation Expense	3.81	5.52	6.41	7.57	13	21	24
Amortization Expense	22	22	30	33	39	39	39
Non-Cash Adjustments To Reconcile Net Income	2.37	15	-7.17	11	-640	220	119
Changes in Operating Assets and Liabilities, net	1.13	30	-130	-6.46	853	-13	-8.00
Net Cash From Investing Activities	-17	6.07	106	-268	-122	-24	-31
Net Cash From Continuing Investing Activities	-17	6.07	106	-268	-122	-24	-31
Purchase of Property, Plant & Equipment	-17	-25	-15	-17	-66	-30	-13
Acquisitions	0.00	-3.02	0.00	-239	-70	0.00	-19
Other Investing Activities, net	-	0.00	0.00	-12	13	5.34	0.73
Net Cash From Financing Activities	-4.17	53	-159	-187	-61	-236	-16
Net Cash From Continuing Financing Activities	-4.17	53	-159	-187	-61	-236	-17
Repayment of Debt	-2.64	-421	-6.00	-14	-5.79	-237	-11
Other Financing Activities, net	-1.30	-1,426	0.00	-34	-55	1.68	-5.43
Effect of Exchange Rate Changes	-	-	-0.09	-	0.00	0.00	-0.03
Cash Interest Paid	29	29	27	20	44	51	25
Cash Income Taxes Paid	0.80	5.01	22	23	-2.99	0.67	-0.56

This table details how cash moves in and out of Maravai LifeSciences' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	-48	-0.57	-4.64	-13	11	4.99	-256	-37	-15	-26	-27
Net Cash From Operating Activities	19	14	7.79	-8.47	17	13	-15	-9.39	-10	-15	-23
Net Cash From Continuing Operating Activities	19	14	7.79	-8.47	17	13	-15	-9.39	-10	-15	-23
Net Income / (Loss) Continuing Operations	-12	-15	-110	-23	-14	-176	-46	-53	-70	-45	-63
Consolidated Net Income / (Loss)	-12	-15	-110	-23	-14	-176	-46	-53	-70	-45	-63
Depreciation Expense	2.82	4.07	3.93	4.79	5.56	5.04	5.47	5.69	5.96	5.98	5.93
Amortization Expense	9.71	9.76	9.79	9.71	9.74	9.75	9.72	9.68	9.82	9.87	9.20
Non-Cash Adjustments To Reconcile Net Income	6.01	10	-660	10	14	169	27	23	43	9.39	45
Changes in Operating Assets and Liabilities, net	13	5.43	764	-11	2.97	5.66	-11	5.49	1.28	4.68	-19
Net Cash From Investing Activities	-24	-16	-13	-4.24	-6.18	-8.96	-4.93	-23	-3.24	-2.93	-2.11
Net Cash From Continuing Investing Activities	-24	-16	-13	-4.24	-6.18	-8.96	-4.93	-23	-3.24	-2.93	-2.11
Purchase of Property, Plant & Equipment	-25	-16	-17	-5.67	-9.55	-8.59	-5.85	-5.24	-2.87	-2.93	-2.11
Net Cash From Financing Activities	-43	0.78	0.47	-0.56	0.23	0.81	-236	-4.90	-1.53	-8.25	-1.82
Net Cash From Continuing Financing Activities	-43	0.78	0.47	-0.56	0.23	0.81	-236	-4.90	-1.53	-8.25	-1.83
Repayment of Debt	-1.36	-1.36	-1.36	-1.36	-1.36	-1.36	-232	-1.36	-1.36	-1.36	-7.00
Other Financing Activities, net	-41	1.83	2.18	2.23	2.19	2.19	-5.06	1.19	-0.19	-7.00	0.57
Effect of Exchange Rate Changes	-	-	-	0.00	-	-	-	0.07	-0.11	-0.01	0.01
Cash Interest Paid	11	12	12	12	12	12	15	6.52	6.12	6.13	6.21
Cash Income Taxes Paid	0.45	-3.01	0.09	0.20	0.18	0.27	0.03	0.14	-0.67	-0.03	0.01

This table presents Maravai LifeSciences' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,271	1,918	2,282	1,487	1,008	771
Total Current Assets	332	740	848	700	429	296
Cash & Equivalents	236	551	632	575	322	217
Accounts Receivable	51	118	139	55	39	25
Inventories, net	33	52	43	51	50	40
Prepaid Expenses	11	20	26	19	18	13
Plant, Property, & Equipment, net	101	46	0.00	0.00	164	151
Total Noncurrent Assets	838	1,132	1,434	788	415	323
Goodwill	224	153	284	326	160	129
Intangible Assets	178	118	217	221	195	152
Other Noncurrent Operating Assets	4.16	53	168	241	60	42
Total Liabilities & Shareholders' Equity	1,271	1,918	2,282	1,487	1,008	771
Total Liabilities	1,116	1,373	1,377	698	431	398
Total Current Liabilities	131	94	110	87	57	45
Short-Term Debt	6.00	6.00	5.44	5.44	5.44	5.44
Accounts Payable	8.17	43	48	18	12	2.91
Accrued Expenses	39	35	53	60	40	37
Total Noncurrent Liabilities	985	1,279	1,267	610	374	353
Long-Term Debt	529	525	522	519	290	286
Other Noncurrent Operating Liabilities	2.23	41	745	91	84	67
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	155	545	905	790	577	373
Total Preferred & Common Equity	89	315	545	417	325	212
Total Common Equity	89	315	545	417	325	211
Common Stock	88	131	140	131	184	200
Retained Earnings	0.85	185	405	286	141	10
Accumulated Other Comprehensive Income / (Loss)	-0.04	-	-	-	0.00	0.52
Noncontrolling Interest	66	230	360	373	252	160

This table presents Maravai LifeSciences' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	2,249	2,315	2,264	2,268	1,445	1,448	1,278	960	897	849
Total Current Assets	836	766	699	701	668	685	679	376	360	326
Cash & Equivalents	617	628	580	580	562	573	578	285	270	244
Accounts Receivable	114	56	49	46	37	39	29	28	28	23
Inventories, net	62	55	47	49	50	49	50	50	47	45
Prepaid Expenses	23	26	23	23	17	17	22	13	15	14
Plant, Property, & Equipment, net	48	88	0.00	0.00	162	0.00	0.00	166	163	159
Total Noncurrent Assets	1,365	1,462	1,565	1,567	615	762	599	417	374	365
Goodwill	284	327	326	326	326	326	172	160	129	129
Intangible Assets	223	242	235	228	214	207	202	200	193	186
Other Noncurrent Operating Assets	87	127	234	239	75	229	225	58	52	49
Total Liabilities & Shareholders' Equity	2,249	2,315	2,264	2,268	1,445	1,448	1,278	960	897	849
Total Liabilities	1,407	1,415	1,367	1,375	667	671	665	429	429	417
Total Current Liabilities	116	125	75	78	59	69	63	63	70	62
Short-Term Debt	5.44	5.74	5.44	5.44	5.44	5.44	5.44	5.44	5.44	5.44
Accounts Payable	44	47	16	14	15	20	17	9.53	12	8.00
Accrued Expenses	60	70	50	56	35	41	38	45	50	48
Total Noncurrent Liabilities	1,292	1,290	1,292	1,297	608	603	602	366	359	356
Long-Term Debt	523	521	520	520	518	517	516	289	288	287
Other Noncurrent Operating Liabilities	58	66	763	771	90	86	86	75	69	68
Commitments & Contingencies	-	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	842	901	898	892	777	776	613	530	468	432
Total Preferred & Common Equity	504	522	521	519	411	437	345	301	266	245
Total Common Equity	504	522	521	519	411	437	345	301	264	245
Common Stock	137	117	122	128	137	171	178	189	192	199
Retained Earnings	367	405	398	392	274	266	167	111	71	46
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-	-	-	0.32	0.57	0.58
Noncontrolling Interest	338	379	377	373	367	339	268	230	202	186

This table displays calculated financial ratios and metrics derived from Maravai LifeSciences' official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	98.48%	181.33%	10.48%	-67.28%	-10.30%	-28.34%
EBITDA Growth	0.00%	195.83%	304.39%	2.93%	11.85%	-125.92%	11.75%
EBIT Growth	0.00%	397.92%	367.41%	2.29%	10.81%	-137.42%	7.81%
NOPAT Growth	0.00%	588.89%	323.91%	4.19%	-98.61%	-2,426.50%	8.64%
Net Income Growth	0.00%	1,615.40%	495.37%	4.56%	-128.20%	-87.62%	11.12%
EPS Growth	0.00%	7,966.67%	-33.90%	7.05%	-153.89%	-16.67%	14.29%
Operating Cash Flow Growth	0.00%	531.09%	142.18%	45.42%	-76.45%	-94.09%	-871.24%
Free Cash Flow Firm Growth	0.00%	0.00%	119.29%	527.78%	-92.77%	-65.88%	-303.19%
Invested Capital Growth	0.00%	0.00%	37.74%	-35.34%	-7.68%	-25.48%	-18.73%
Revenue Q/Q Growth	0.00%	0.00%	19.44%	-2.62%	-31.12%	-6.40%	-3.48%
EBITDA Q/Q Growth	0.00%	0.00%	26.14%	-6.53%	453.80%	-134.10%	-15.60%
EBIT Q/Q Growth	0.00%	0.00%	27.35%	-7.11%	742.34%	-151.26%	-10.68%
NOPAT Q/Q Growth	0.00%	0.00%	27.81%	-6.66%	-91.86%	-210.06%	-10.86%
Net Income Q/Q Growth	0.00%	0.00%	31.59%	-7.48%	-334.39%	19.65%	-7.93%
EPS Q/Q Growth	0.00%	0.00%	-52.29%	-7.73%	-550.00%	35.98%	-3.45%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-5.31%	8.19%	-42.04%	-75.03%	-16.44%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	195.96%	-90.39%	-94.57%	21.21%
Invested Capital Q/Q Growth	0.00%	0.00%	0.10%	-45.31%	-11.77%	-1.07%	-6.97%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	53.30%	71.96%	82.41%	80.87%	48.52%	41.79%	18.30%
EBITDA Margin	34.88%	51.99%	74.73%	69.62%	237.97%	-68.75%	-84.68%
Operating Margin	16.76%	42.20%	69.40%	65.03%	-10.95%	-90.91%	-115.89%
EBIT Margin	16.84%	42.25%	70.19%	64.99%	220.08%	-91.81%	-118.13%
Profit (Net Income) Margin	-3.63%	27.74%	58.71%	55.57%	-47.89%	-100.17%	-124.24%
Tax Burden Percent	88.86%	96.47%	88.41%	88.97%	-22.40%	99.29%	98.21%
Interest Burden Percent	-24.28%	68.06%	94.61%	96.10%	97.14%	109.89%	107.09%
Effective Tax Rate	0.00%	3.53%	11.59%	11.03%	122.40%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	25.74%	45.89%	50.12%	0.92%	-25.57%	-30.19%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	15.83%	42.95%	43.24%	187.99%	219.48%	-360.98%
Return on Net Nonoperating Assets (RNNOA)	0.00%	76.13%	88.16%	17.53%	-17.25%	-12.41%	-18.40%
Return on Equity (ROE)	0.00%	101.87%	134.05%	67.65%	-16.33%	-37.98%	-48.59%
Cash Return on Invested Capital (CROIC)	0.00%	-174.26%	14.14%	93.05%	8.91%	3.63%	-9.52%
Operating Return on Assets (OROA)	0.00%	9.45%	35.19%	27.32%	33.74%	-19.07%	-24.67%
Return on Assets (ROA)	0.00%	6.20%	29.43%	23.36%	-7.34%	-20.81%	-25.95%
Return on Common Equity (ROCE)	0.00%	58.26%	77.36%	40.14%	-9.27%	-20.62%	-27.43%
Return on Equity Simple (ROE_SIMPLE)	0.00%	89.05%	148.73%	89.99%	-33.20%	-79.81%	0.00%
Net Operating Profit after Tax (NOPAT)	17	116	490	511	7.09	-165	-151
NOPAT Margin	11.73%	40.72%	61.35%	57.86%	2.45%	-63.63%	-81.13%
Net Nonoperating Expense Percent (NNEP)	0.00%	9.91%	2.94%	6.88%	-187.07%	-245.05%	330.80%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	35.66%	0.54%	-18.89%	-22.68%
Cost of Revenue to Revenue	46.70%	28.04%	17.59%	19.13%	51.48%	58.21%	81.70%
SG&A Expenses to Revenue	33.78%	33.17%	12.52%	14.64%	52.39%	62.42%	78.13%
R&D to Revenue	2.53%	3.27%	1.90%	2.08%	5.98%	7.42%	9.37%
Operating Expenses to Revenue	36.54%	29.76%	13.02%	15.84%	59.48%	132.70%	134.19%
Earnings before Interest and Taxes (EBIT)	24	120	561	574	636	-238	-219
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	50	148	597	615	688	-178	-157
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	19.01	34.22	6.70	3.95	4.23	3.94
Price to Tangible Book Value (P/TBV)	0.00	0.00	239.09	81.36	0.00	0.00	0.00
Price to Revenue (P/Rev)	11.32	5.92	13.51	4.14	5.70	5.31	4.47
Price to Earnings (P/E)	0.00	18.92	59.32	16.58	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	5.29%	1.69%	6.03%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	2.34	8.89	4.88	2.66	2.91	2.38
Enterprise Value to Revenue (EV/Rev)	0.00	7.41	13.77	4.43	6.81	6.18	5.74
Enterprise Value to EBITDA (EV/EBITDA)	0.00	14.24	18.43	6.36	2.86	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	17.53	19.62	6.81	3.10	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	18.19	22.45	7.65	277.63	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	13.82	29.86	7.29	15.59	214.56	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	72.85	4.12	28.71	68.46	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	3.82	0.97	0.58	0.66	0.51	0.78
Long-Term Debt to Equity	0.00	3.78	0.96	0.58	0.66	0.50	0.77
Financial Leverage	0.00	4.81	2.05	0.41	-0.09	-0.06	0.05
Leverage Ratio	0.00	8.21	4.56	2.90	2.22	1.83	1.87
Compound Leverage Factor	0.00	5.59	4.31	2.78	2.16	2.01	2.01
Debt to Total Capital	0.00%	79.24%	49.31%	36.81%	39.89%	33.89%	43.91%
Short-Term Debt to Total Capital	0.00%	0.80%	0.56%	0.38%	0.41%	0.62%	0.82%
Long-Term Debt to Total Capital	0.00%	78.44%	48.76%	36.44%	39.47%	33.27%	43.09%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	8.88%	21.36%	25.13%	28.40%	28.85%	24.13%
Common Equity to Total Capital	0.00%	11.87%	29.32%	38.06%	31.72%	37.26%	31.74%
Debt to EBITDA	0.00	4.00	0.89	0.86	0.76	-1.66	-1.86
Net Debt to EBITDA	0.00	2.40	-0.03	-0.17	-0.07	0.15	-0.48
Long-Term Debt to EBITDA	0.00	3.96	0.88	0.85	0.75	-1.63	-1.82
Debt to NOPAT	0.00	5.11	1.08	1.03	73.94	-1.79	-1.94
Net Debt to NOPAT	0.00	3.07	-0.04	-0.20	-7.17	0.16	-0.50
Long-Term Debt to NOPAT	0.00	5.06	1.07	1.02	73.17	-1.76	-1.90
Altman Z-Score	0.00	1.63	6.64	3.44	3.78	2.03	0.96
Noncontrolling Interest Sharing Ratio	0.00%	42.80%	42.29%	40.66%	43.25%	45.72%	43.55%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	2.54	7.89	7.70	8.00	7.53	6.60
Quick Ratio	0.00	2.20	7.13	7.00	7.20	6.34	5.40
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-783	151	949	69	23	-48
Operating Cash Flow to CapEx	140.63%	0.00%	2,577.05%	3,136.20%	192.55%	25.17%	-437.85%
Free Cash Flow to Firm to Interest Expense	0.00	-20.43	4.99	46.00	1.49	0.46	-1.76
Operating Cash Flow to Interest Expense	0.80	3.97	12.18	25.99	2.75	0.15	-2.13
Operating Cash Flow Less CapEx to Interest Expense	0.23	4.21	11.71	25.16	1.32	-0.44	-2.62
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.22	0.50	0.42	0.15	0.21	0.21
Accounts Receivable Turnover	0.00	5.57	9.48	6.89	2.99	5.57	5.80
Inventory Turnover	0.00	2.39	3.31	3.57	3.15	2.97	3.35
Fixed Asset Turnover	0.00	2.80	10.83	0.00	0.00	0.00	1.18
Accounts Payable Turnover	0.00	9.75	5.49	3.70	4.50	10.14	20.41
Days Sales Outstanding (DSO)	0.00	65.55	38.48	52.94	122.05	65.57	62.90
Days Inventory Outstanding (DIO)	0.00	152.61	110.18	102.30	116.01	122.75	108.93
Days Payable Outstanding (DPO)	0.00	37.44	66.43	98.55	81.03	35.99	17.88
Cash Conversion Cycle (CCC)	0.00	180.71	82.23	56.69	157.02	152.33	153.95
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	899	1,238	801	739	551	448
Invested Capital Turnover	0.00	0.63	0.75	0.87	0.38	0.40	0.37
Increase / (Decrease) in Invested Capital	0.00	899	339	-438	-61	-188	-103
Enterprise Value (EV)	0.00	2,104	11,007	3,907	1,968	1,602	1,066
Market Capitalization	1,620	1,683	10,798	3,652	1,646	1,376	831
Book Value per Share	$0.00	$8.55	$1.22	$2.14	$1.66	$1.29	$0.82
Tangible Book Value per Share	$0.00	($30.28)	$0.18	$0.18	($0.52)	($0.12)	($0.27)
Total Capital	0.00	746	1,076	1,433	1,314	873	664
Total Debt	0.00	591	531	527	524	296	292
Total Long-Term Debt	0.00	585	525	522	519	290	286
Net Debt	0.00	355	-21	-105	-51	-26	75
Capital Expenditures (CapEx)	17	-9.09	14	17	66	30	13
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-29	101	111	43	55	40
Debt-free Net Working Capital (DFNWC)	0.00	207	652	743	618	378	257
Net Working Capital (NWC)	0.00	201	646	738	612	372	251
Net Nonoperating Expense (NNE)	22	37	21	20	145	95	80
Net Nonoperating Obligations (NNO)	0.00	744	693	-105	-51	-26	75
Total Depreciation and Amortization (D&A)	26	28	36	41	52	60	62
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-10.34%	12.64%	12.58%	14.85%	21.30%	21.47%
Debt-free Net Working Capital to Revenue	0.00%	72.80%	81.61%	84.17%	213.84%	145.69%	138.24%
Net Working Capital to Revenue	0.00%	70.69%	80.86%	83.55%	211.96%	143.59%	135.31%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$1.59	$1.67	($0.90)	($1.05)	($0.90)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	114.79M	131.55M	131.92M	137.91M	144.36M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$1.56	$1.67	($0.90)	($1.05)	($0.90)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	257.80M	255.32M	131.92M	137.91M	144.36M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	255.16M	250.88M	251.40M	254.34M	257.07M
Normalized Net Operating Profit after Tax (NOPAT)	17	116	490	504	-20	-51	-90
Normalized NOPAT Margin	11.89%	40.72%	61.35%	57.07%	-6.90%	-19.63%	-48.44%
Pre Tax Income Margin	-4.09%	28.76%	66.41%	62.45%	213.79%	-100.89%	-126.50%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.80	3.13	18.54	27.83	13.86	-4.68	-8.13
NOPAT to Interest Expense	0.56	3.02	16.21	24.77	0.15	-3.24	-5.58
EBIT Less CapEx to Interest Expense	0.23	3.37	18.07	27.00	12.43	-5.26	-8.62
NOPAT Less CapEx to Interest Expense	-0.01	3.25	15.73	23.95	-1.27	-3.82	-6.07
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	539.37%	32.70%	30.61%	-6.94%	-0.19%	0.00%
Augmented Payout Ratio	-4.36%	593.67%	32.70%	30.61%	-6.94%	-0.19%	0.00%

This table displays calculated financial ratios and metrics derived from Maravai LifeSciences' official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-71.61%	-65.04%	-63.78%	-18.79%	6.51%	-2.49%	-23.92%	-27.00%	-31.73%	-39.69%	-11.83%
EBITDA Growth	-100.32%	-101.98%	472.01%	-133.06%	630.86%	-6,011.29%	-103.38%	-692.28%	-7,574.12%	83.24%	-94.10%
EBIT Growth	-107.32%	-113.99%	515.96%	-1,582.61%	8.06%	-933.39%	-105.73%	-162.00%	-339.57%	75.17%	-56.07%
NOPAT Growth	-105.02%	-110.54%	-98.80%	-844.61%	18.10%	-996.93%	-2,327.23%	-160.65%	-393.14%	75.22%	-55.95%
Net Income Growth	-107.62%	-115.15%	-225.80%	-1,582.49%	-21.34%	-1,065.11%	57.72%	-133.04%	-279.14%	73.87%	-36.79%
EPS Growth	-109.43%	-114.71%	-366.67%	0.00%	0.00%	-1,300.00%	73.75%	-133.33%	-285.71%	73.53%	-14.29%
Operating Cash Flow Growth	-88.32%	-87.13%	-92.16%	-109.95%	-9.17%	-7.27%	-287.91%	-10.90%	-158.88%	-215.33%	-55.54%
Free Cash Flow Firm Growth	275.66%	594.47%	-88.33%	2,799.44%	-81.90%	-73.58%	157.91%	-77.81%	73.43%	-71.60%	-61.72%
Invested Capital Growth	-42.38%	-42.77%	-7.68%	-50.51%	-13.93%	-33.54%	-25.48%	-26.91%	-32.22%	-13.58%	-18.73%
Revenue Q/Q Growth	-12.79%	-2.97%	10.88%	-13.44%	14.37%	-11.17%	-13.49%	-16.94%	1.17%	-12.17%	19.78%
EBITDA Q/Q Growth	-104.70%	-316.50%	26,956.18%	-100.63%	175.48%	-4,894.81%	85.15%	-47.43%	-61.59%	53.70%	-73.01%
EBIT Q/Q Growth	-1,138.18%	-24.56%	4,159.95%	-102.82%	35.62%	-1,300.05%	77.47%	-29.02%	-43.15%	41.57%	-43.15%
NOPAT Q/Q Growth	-558.51%	-32.75%	111.10%	-1,201.70%	49.57%	-1,677.90%	77.45%	-28.93%	-34.82%	38.09%	-43.29%
Net Income Q/Q Growth	-785.98%	-26.45%	-628.26%	79.38%	36.10%	-1,114.15%	73.58%	-13.67%	-32.13%	35.48%	-39.86%
EPS Q/Q Growth	0.00%	0.00%	-1,500.00%	88.75%	44.44%	-1,300.00%	70.00%	0.00%	-28.57%	33.33%	-33.33%
Operating Cash Flow Q/Q Growth	-77.44%	-26.20%	-45.01%	-208.69%	305.91%	-24.65%	-211.43%	35.85%	-9.32%	-47.59%	-50.28%
Free Cash Flow Firm Q/Q Growth	2,329.79%	0.53%	-89.81%	1,082.35%	-85.05%	46.70%	-0.57%	1.75%	13.96%	-74.99%	32.28%
Invested Capital Q/Q Growth	-43.53%	-0.66%	-11.77%	-0.01%	-1.79%	-23.30%	-1.07%	-1.92%	-8.92%	-2.20%	-6.97%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	37.21%	45.13%	52.65%	40.27%	47.86%	43.52%	33.62%	16.49%	16.39%	13.58%	25.75%
EBITDA Margin	-0.88%	-3.77%	914.27%	-6.64%	4.38%	-236.58%	-40.60%	-72.07%	-115.12%	-60.68%	-87.64%
Operating Margin	-16.85%	-23.06%	-9.64%	-29.39%	-12.96%	-259.38%	-67.60%	-104.93%	-139.84%	-98.56%	-117.91%
EBIT Margin	-19.06%	-24.46%	895.76%	-29.22%	-16.45%	-259.27%	-67.52%	-104.88%	-148.41%	-98.73%	-117.99%
Profit (Net Income) Margin	-17.33%	-22.59%	-148.34%	-35.34%	-19.74%	-269.87%	-82.43%	-112.81%	-147.34%	-108.23%	-126.37%
Tax Burden Percent	89.37%	73.44%	-16.76%	101.21%	85.61%	100.18%	99.98%	100.31%	94.22%	99.80%	100.01%
Interest Burden Percent	101.76%	125.71%	98.80%	119.48%	140.19%	103.91%	122.09%	107.23%	105.38%	109.85%	107.09%
Effective Tax Rate	0.00%	0.00%	116.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-5.56%	-5.88%	0.61%	-5.05%	-3.22%	-72.12%	-19.02%	-27.78%	-35.34%	-25.59%	-30.71%
ROIC Less NNEP Spread (ROIC-NNEP)	-6.76%	-7.40%	143.59%	-8.47%	11.69%	31.55%	32.23%	101.75%	140.40%	428.99%	-121.01%
Return on Net Nonoperating Assets (RNNOA)	-2.57%	-2.42%	-13.17%	-2.80%	-0.73%	-2.33%	-1.82%	-2.22%	-3.01%	-2.95%	-6.17%
Return on Equity (ROE)	-8.13%	-8.31%	-12.57%	-7.85%	-3.96%	-74.45%	-20.84%	-29.99%	-38.35%	-28.54%	-36.88%
Cash Return on Invested Capital (CROIC)	70.83%	61.98%	8.91%	68.84%	16.74%	61.79%	3.63%	1.99%	1.75%	-11.63%	-9.52%
Operating Return on Assets (OROA)	-4.67%	-4.54%	137.32%	-4.26%	-2.47%	-40.50%	-14.02%	-21.10%	-27.83%	-17.86%	-24.64%
Return on Assets (ROA)	-4.25%	-4.20%	-22.74%	-5.15%	-2.96%	-42.15%	-17.12%	-22.70%	-27.63%	-19.58%	-26.39%
Return on Common Equity (ROCE)	-4.76%	-4.90%	-7.13%	-4.36%	-2.26%	-42.75%	-11.31%	-16.31%	-21.62%	-16.13%	-20.82%
Return on Equity Simple (ROE_SIMPLE)	33.38%	11.37%	0.00%	-38.89%	-37.14%	-93.62%	0.00%	-96.40%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-8.13	-11	1.20	-13	-6.66	-118	-27	-34	-46	-29	-41
NOPAT Margin	-11.80%	-16.14%	1.62%	-20.57%	-9.07%	-181.56%	-47.32%	-73.45%	-97.89%	-68.99%	-82.53%
Net Nonoperating Expense Percent (NNEP)	1.20%	1.52%	-142.98%	3.42%	-14.91%	-103.67%	-51.25%	-129.53%	-175.74%	-454.58%	90.30%
Return On Investment Capital (ROIC_SIMPLE)	-	-	0.09%	-	-	-	-3.06%	-4.17%	-6.09%	-3.96%	-6.19%
Cost of Revenue to Revenue	62.79%	54.87%	47.35%	59.73%	52.14%	56.48%	66.38%	83.51%	83.61%	86.42%	74.25%
SG&A Expenses to Revenue	51.34%	58.12%	51.90%	63.70%	55.25%	59.95%	73.12%	84.45%	81.39%	85.03%	63.34%
R&D to Revenue	6.09%	6.50%	6.20%	7.84%	7.20%	6.66%	8.09%	10.43%	10.30%	9.23%	7.60%
Operating Expenses to Revenue	54.06%	68.19%	62.29%	69.66%	60.82%	302.90%	101.22%	121.42%	156.23%	112.15%	143.66%
Earnings before Interest and Taxes (EBIT)	-13	-16	664	-19	-12	-169	-38	-49	-70	-41	-59
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-0.61	-2.52	678	-4.26	3.22	-154	-23	-34	-55	-25	-44
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.99	4.83	3.95	5.31	4.13	6.07	4.23	1.87	2.32	2.99	3.94
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	5.74	5.98	5.70	7.95	6.47	7.57	5.31	2.32	2.79	3.81	4.47
Price to Earnings (P/E)	41.32	102.19	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.42%	0.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	4.08	3.38	2.66	3.39	2.88	4.15	2.91	1.48	1.71	2.01	2.38
Enterprise Value to Revenue (EV/Rev)	6.33	6.74	6.81	9.15	7.51	8.33	6.18	3.31	3.82	5.03	5.74
Enterprise Value to EBITDA (EV/EBITDA)	13.54	22.78	2.86	3.74	3.10	4.42	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	16.49	37.47	3.10	4.07	3.39	4.97	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	17.50	32.47	277.63	177.59	150.97	15.40	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	10.97	12.99	15.59	76.74	67.67	77.20	214.56	122.54	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	4.21	3.97	28.71	3.26	15.93	5.36	68.46	62.97	78.60	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.59	0.59	0.66	0.67	0.67	0.85	0.51	0.56	0.63	0.68	0.78
Long-Term Debt to Equity	0.58	0.58	0.66	0.67	0.67	0.84	0.50	0.55	0.62	0.67	0.77
Financial Leverage	0.38	0.33	-0.09	0.33	-0.06	-0.07	-0.06	-0.02	-0.02	-0.01	0.05
Leverage Ratio	2.65	2.60	2.22	2.24	2.22	2.36	1.83	1.84	1.88	2.04	1.87
Compound Leverage Factor	2.70	3.27	2.20	2.68	3.11	2.45	2.23	1.97	1.99	2.24	2.01
Debt to Total Capital	36.94%	37.04%	39.89%	40.23%	40.23%	45.97%	33.89%	35.74%	38.57%	40.41%	43.91%
Short-Term Debt to Total Capital	0.38%	0.38%	0.41%	0.42%	0.42%	0.48%	0.62%	0.66%	0.71%	0.75%	0.82%
Long-Term Debt to Total Capital	36.56%	36.66%	39.47%	39.82%	39.81%	45.49%	33.27%	35.08%	37.86%	39.66%	43.09%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	26.49%	26.32%	28.40%	28.19%	26.14%	23.61%	28.85%	27.83%	26.53%	25.72%	24.13%
Common Equity to Total Capital	36.57%	36.64%	31.72%	31.57%	33.64%	30.41%	37.26%	36.43%	34.71%	33.87%	31.74%
Debt to EBITDA	2.07	4.23	0.76	0.78	0.77	1.00	-1.66	-1.42	-1.12	-2.15	-1.86
Net Debt to EBITDA	-0.21	-0.44	-0.07	-0.06	-0.08	-0.11	0.15	-0.05	-0.09	-0.36	-0.48
Long-Term Debt to EBITDA	2.05	4.18	0.75	0.77	0.77	0.99	-1.63	-1.39	-1.10	-2.11	-1.82
Debt to NOPAT	2.67	6.03	73.94	37.06	37.70	3.48	-1.79	-1.58	-1.32	-2.15	-1.94
Net Debt to NOPAT	-0.28	-0.63	-7.17	-2.72	-3.65	-0.38	0.16	-0.05	-0.11	-0.36	-0.50
Long-Term Debt to NOPAT	2.64	5.96	73.17	36.67	37.30	3.45	-1.76	-1.56	-1.29	-2.11	-1.90
Altman Z-Score	2.17	1.83	3.85	2.88	2.55	2.43	2.69	1.42	1.34	1.57	1.65
Noncontrolling Interest Sharing Ratio	41.54%	41.00%	43.25%	44.45%	42.80%	42.58%	45.72%	45.61%	43.64%	43.48%	43.55%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	9.33	8.96	8.00	11.32	10.00	10.74	7.53	5.96	5.16	5.29	6.60
Quick Ratio	8.40	7.99	7.20	10.14	8.92	9.60	6.34	4.96	4.27	4.32	5.40
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	612	615	63	741	111	163	162	164	187	47	62
Operating Cash Flow to CapEx	76.60%	89.51%	46.37%	-149.46%	182.50%	152.90%	-250.27%	-179.37%	-357.17%	-517.77%	-1,077.01%
Free Cash Flow to Firm to Interest Expense	87.17	52.87	4.07	68.21	9.28	11.92	11.19	24.26	27.50	6.85	9.46
Operating Cash Flow to Interest Expense	2.73	1.22	0.51	-0.78	1.46	0.96	-1.01	-1.39	-1.51	-2.21	-3.47
Operating Cash Flow Less CapEx to Interest Expense	-0.84	-0.14	-0.59	-1.30	0.66	0.33	-1.42	-2.16	-1.93	-2.64	-3.80
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.25	0.19	0.15	0.15	0.15	0.16	0.21	0.20	0.19	0.18	0.21
Accounts Receivable Turnover	6.42	5.25	2.99	5.90	6.36	7.43	5.57	7.42	6.61	7.49	5.80
Inventory Turnover	3.13	2.99	3.15	2.93	3.07	2.98	2.97	3.04	3.18	3.17	3.35
Fixed Asset Turnover	0.00	0.00	0.00	2.20	0.00	0.00	0.00	1.47	0.00	0.00	1.18
Accounts Payable Turnover	4.54	5.77	4.50	4.92	8.31	9.79	10.14	12.22	9.81	12.29	20.41
Days Sales Outstanding (DSO)	56.82	69.49	122.05	61.89	57.41	49.13	65.57	49.18	55.23	48.76	62.90
Days Inventory Outstanding (DIO)	116.53	122.00	116.01	124.52	118.92	122.31	122.75	119.87	114.68	115.02	108.93
Days Payable Outstanding (DPO)	80.35	63.24	81.03	74.16	43.93	37.28	35.99	29.87	37.20	29.70	17.88
Cash Conversion Cycle (CCC)	93.00	128.26	157.02	112.25	132.40	134.16	152.33	139.19	132.71	134.08	153.95
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	843	838	739	739	726	557	551	540	492	481	448
Invested Capital Turnover	0.47	0.36	0.38	0.25	0.36	0.40	0.40	0.38	0.36	0.37	0.37
Increase / (Decrease) in Invested Capital	-620	-626	-61	-754	-117	-281	-188	-199	-234	-76	-103
Enterprise Value (EV)	3,442	2,829	1,968	2,508	2,093	2,308	1,602	802	840	969	1,066
Market Capitalization	3,120	2,510	1,646	2,180	1,804	2,096	1,376	562	614	733	831
Book Value per Share	$2.07	$2.07	$1.66	$1.63	$1.73	$1.37	$1.29	$1.18	$1.04	$0.96	$0.82
Tangible Book Value per Share	($0.16)	($0.14)	($0.52)	($0.52)	($0.38)	($0.11)	($0.12)	($0.23)	($0.23)	($0.27)	($0.27)
Total Capital	1,423	1,417	1,314	1,301	1,299	1,135	873	825	762	725	664
Total Debt	526	525	524	523	523	522	296	295	294	293	292
Total Long-Term Debt	520	520	519	518	517	516	290	289	288	287	286
Net Debt	-54	-55	-51	-38	-51	-56	-26	9.89	24	49	75
Capital Expenditures (CapEx)	25	16	17	5.67	9.55	8.59	5.85	5.24	2.87	2.93	2.11
Debt-free, Cash-free Net Working Capital (DFCFNWC)	50	48	43	53	49	43	55	34	26	26	40
Debt-free Net Working Capital (DFNWC)	630	628	618	614	622	621	378	319	296	270	257
Net Working Capital (NWC)	624	623	612	609	617	616	372	313	290	264	251
Net Nonoperating Expense (NNE)	3.81	4.31	111	9.48	7.83	58	20	18	23	16	22
Net Nonoperating Obligations (NNO)	-54	-55	-51	-38	-51	-56	-26	9.89	24	49	75
Total Depreciation and Amortization (D&A)	13	14	14	14	15	15	15	15	16	16	15
Debt-free, Cash-free Net Working Capital to Revenue	9.13%	11.55%	14.85%	19.19%	17.62%	15.58%	21.30%	13.86%	11.65%	13.59%	21.47%
Debt-free Net Working Capital to Revenue	115.80%	149.71%	213.84%	224.12%	223.36%	224.36%	145.69%	131.72%	134.43%	140.17%	138.24%
Net Working Capital to Revenue	114.80%	148.41%	211.96%	222.13%	221.41%	222.40%	143.59%	129.47%	131.96%	137.34%	135.31%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.05)	($0.05)	($0.80)	($0.09)	($0.05)	($0.70)	($0.21)	($0.21)	($0.27)	($0.18)	($0.24)
Adjusted Weighted Average Basic Shares Outstanding	131.86M	131.93M	131.92M	132.33M	135.84M	141.56M	137.91M	143.43M	144.24M	144.68M	144.36M
Adjusted Diluted Earnings per Share	($0.05)	($0.05)	($0.80)	($0.09)	($0.05)	($0.70)	($0.21)	($0.21)	($0.27)	($0.18)	($0.24)
Adjusted Weighted Average Diluted Shares Outstanding	131.86M	131.93M	131.92M	132.33M	135.84M	141.56M	137.91M	143.43M	144.24M	144.68M	144.36M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	251.02M	251.28M	251.40M	251.92M	252.24M	252.53M	254.34M	254.66M	255.36M	255.71M	257.07M
Normalized Net Operating Profit after Tax (NOPAT)	-9.75	-9.12	-0.48	-14	-7.50	-11	-27	-26	-25	-24	-16
Normalized NOPAT Margin	-14.15%	-13.64%	-0.65%	-21.89%	-10.21%	-16.17%	-47.31%	-54.87%	-52.71%	-56.47%	-31.63%
Pre Tax Income Margin	-19.39%	-30.75%	885.05%	-34.92%	-23.06%	-269.39%	-82.44%	-112.47%	-156.39%	-108.45%	-126.36%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.87	-1.41	43.13	-1.73	-1.01	-12.40	-2.64	-7.25	-10.32	-6.01	-8.98
NOPAT to Interest Expense	-1.16	-0.93	0.08	-1.22	-0.56	-8.68	-1.85	-5.08	-6.81	-4.20	-6.28
EBIT Less CapEx to Interest Expense	-5.44	-2.77	42.03	-2.25	-1.81	-13.03	-3.04	-8.02	-10.74	-6.43	-9.30
NOPAT Less CapEx to Interest Expense	-4.73	-2.29	-1.01	-1.74	-1.36	-9.31	-2.25	-5.85	-7.23	-4.62	-6.60
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	44.50%	68.64%	-6.94%	-0.82%	-0.35%	-0.18%	-0.19%	0.00%	0.02%	0.04%	0.00%
Augmented Payout Ratio	44.50%	68.64%	-6.94%	-0.82%	-0.35%	-0.18%	-0.19%	0.00%	0.02%	0.04%	0.00%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways for MRVI (Maravai LifeSciences) based on quarterly statements from 2022 through 2025. The items are grouped by potential impact, with positives first, then neutral, then negatives.

Debt reduction: Long-Term Debt declined from about $517.9 million (late 2024) to roughly $287–289 million in 2025 (Q2–Q3 2025), improving the company’s leverage profile.
Solid historical liquidity: Cash & equivalents have been substantial in prior periods, with examples such as about $243.6 million as of Q3 2025 and around $285.1 million in Q1 2025, indicating meaningful liquidity cushions at times.
Occasional positive operating cash flow in prior years: The company generated meaningful cash from operations in several quarters (e.g., about $85.1 million in Q1 2024 and about $13.1 million in Q3 2024), suggesting potential for cash generation under certain conditions.

Revenue volatility: Quarterly operating revenue has fluctuated in the mid-teens to mid-70 millions over the period, with no clear, consistent upward/top-line growth across the four years analyzed.
Non-cash adjustments: The non-cash adjustments to net income are sizable in multiple periods (for example, 44.56 million in Q4 2025), indicating earnings can be heavily influenced by non-cash items.

Persistent net losses in 2025: Net income and earnings per share remain negative in the latest quarters (e.g., Q4 2025 net income continuing operations around -$63.0 million; Q3 2025 around -$45.1 million; Q4 2024 around -$46.5 million).
Negative operating cash flow in 2025: Operating cash flow trends deteriorate in the latest quarters (e.g., Q4 2025 net cash from continuing operating activities about -$26.7 million; Q3 2025 about -$15.2 million), signaling ongoing cash burn from operations.
Asset base declined into 2025: Total assets contracted from peak levels in 2024 (around $1.28–1.32 billion in 2024) to about $0.85 billion by Q3 2025, suggesting asset reductions or restructurings.
Significant impairment charges in some periods: For example, Q4 2025 shows an impairment expense of about $25.825 million, adding to the headwinds on profitability.
High SG&A relative to revenue: Selling, General & Administrative expenses remain large in several quarters (e.g., Q4 2025 SG&A around $31.58 million vs gross profit of $12.84 million), compressing margins.

05/08/26 07:02 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Maravai LifeSciences' Financials

When does Maravai LifeSciences' financial year end?

According to the most recent income statement we have on file, Maravai LifeSciences' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has Maravai LifeSciences' net income changed over the last 6 years?

Maravai LifeSciences' net income appears to be on a downward trend, with a most recent value of -$230.76 million in 2025, rising from -$5.20 million in 2019. The previous period was -$259.62 million in 2024. See where experts think Maravai LifeSciences is headed by visiting Maravai LifeSciences' forecast page.

What is Maravai LifeSciences' operating income?

Maravai LifeSciences' total operating income in 2025 was -$215.27 million, based on the following breakdown:

Total Gross Profit: $33.99 million
Total Operating Expenses: $249.26 million

How has Maravai LifeSciences' revenue changed over the last 6 years?

Over the last 6 years, Maravai LifeSciences' total revenue changed from $143.14 million in 2019 to $185.74 million in 2025, a change of 29.8%.

How much debt does Maravai LifeSciences have?

Maravai LifeSciences' total liabilities were at $397.87 million at the end of 2025, a 7.7% decrease from 2024, and a 64.3% decrease since 2020.

How much cash does Maravai LifeSciences have?

In the past 5 years, Maravai LifeSciences' cash and equivalents has ranged from $216.89 million in 2025 to $632.14 million in 2022, and is currently $216.89 million as of their latest financial filing in 2025.

How has Maravai LifeSciences' book value per share changed over the last 6 years?

Over the last 6 years, Maravai LifeSciences' book value per share changed from 0.00 in 2019 to 0.82 in 2025, a change of 82.5%.

Related Companies

Financial statements for NASDAQ:MRVI last updated on 4/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Maravai LifeSciences (MRVI) Financials

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Maravai LifeSciences (MRVI) Financials

Annual Income Statements for Maravai LifeSciences

Quarterly Income Statements for Maravai LifeSciences

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Quarterly Balance Sheets for Maravai LifeSciences

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Quarterly Metrics And Ratios for Maravai LifeSciences

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