Published on 22 Feb 2024 on GuruFocus.com via Yahoo Finance
Maravai LifeSciences Holdings Inc (MRVI) Faces Net Loss in 2023 Despite Revenue Outperformance
Annual Revenue: Reported at $288.9 million for 2023, a significant decrease from the previous year.Net Loss: Recorded a net loss of $(138.4) million for the year, attributed to valuation adjustments and decreased demand.Adjusted EBITDA Margin: Achieved 23% for the full year, reflecting cost reduction efforts and operational efficiency.Product Innovation: TriLink BioTechnologies secures patents and enters supply agreement, signaling growth in the mRNA space.2024 Revenue Guidance: Projected to be between $265.0 million to $285.0 million with an Adjusted EBITDA margin of 23% to 25%.
Warning! GuruFocus has detected 3 Warning Sign with MRVI.
On February 22, 2024, Maravai LifeSciences Holdings Inc (NASDAQ:MRVI) released its 8-K filing, detailing the financial results for the fourth quarter and full year ended December 31, 2023. The life sciences company, known for its products that enable drug therapies, diagnostics, and research on human diseases, faced a challenging year with significant revenue decline and a net loss.