Shares of Maravai LifeSciences Holdings, Inc. (MRVI) experienced a significant 24-hour plunge of 7.27% during Friday's trading session, as investors reacted to the company's disappointing third-quarter financial results and lowered full-year guidance.
The biotechnology company reported Q3 revenue of $41.6 million, falling short of analyst expectations of $49 million and representing a 39.7% year-over-year decline. The miss was primarily attributed to weakness in the nucleic acid production segment, which saw a 52.9% decrease in revenue due to a lack of high-volume CleanCap orders and non-recurring large GMP orders. Additionally, Maravai's adjusted EBITDA for the quarter came in at -$10.8 million, missing the consensus estimate of -$7.41 million.
Adding to investor concerns, Maravai provided full-year 2025 revenue guidance of approximately $185 million, which may be viewed as conservative by market participants. Despite the challenges, the company highlighted some positive developments, including a 7.2% year-over-year growth in its Biologics Safety Testing segment and ongoing organizational restructuring and cost reduction initiatives. Management expressed optimism for the fourth quarter, anticipating double-digit sequential revenue growth for its TriLink business unit and aiming for improved financial results in Q4 2025 and into 2026.
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