Maravai Lifesciences Raises Annual EBITDA Guidance as Losses Narrow
The company reported a net loss of $21.6 million for the second quarter, a significant improvement from the $69.8 million loss in the prior-year period.
Maravai LifeSciences Holdings (MRVI), a provider of production materials for nucleic acid-based therapies, reported second-quarter revenue of $51.4 million. The result represented an 8.5% increase over the $47.4 million recorded in the second quarter of 2024.
The quarter marked a shift toward profitability in the company's core operating metrics. Adjusted EBITDA rose to $8.7 million, reversing a loss of $10.4 million from the same period last year. This turnaround was supported by an expansion in gross profit, which rose to $20.7 million from $7.8 million in the prior-year quarter as the company reduced its cost of revenue to $30.8 million from $39.6 million.
Growth was distributed across the company's primary business lines. TriLink revenue grew 11.5% year-over-year. When excluding COVID CleanCap, TriLink base revenue grew 13.4% for the first six months of 2025, though this pace was slightly lower than the 15.4% growth seen in the first quarter alone.
Cygnus revenue grew 2.8% year-over-year. This result marked the fifth consecutive quarter of year-over-year growth for the segment.
Maravai expanded its operational capacity and customer base during the period. The company opened a new GMP enzyme manufacturing facility to complete the integrated portfolio of IVT raw materials for TriLink. Additionally, the ModTail product line reached more than 125 active customers within one year of its commercial launch.
Management raised full-year 2025 Adjusted EBITDA guidance to a range of $33 million to $35 million, up from the $30 million to $32 million range provided in the first quarter. The company reiterated its full-year revenue guidance of $205 million to $215 million.