Maravai LifeSciences (MRVI) Investor presentation summary

Business overview and market position

• Provides critical solutions for mRNA, gene editing, cell and gene therapy, vaccines, and biologics manufacturing, serving the life sciences sector from discovery to commercialization.

• TriLink and Cygnus are key segments, offering proprietary mRNA technologies, GMP consumables, and analytical services for biotherapeutics.

• Products and services are widely adopted, with 96% of the top 25 global biopharma R&D spenders as customers.

Strategic transformation and leadership

• Underwent significant organizational changes, including a new CEO and CFO, and a full C-suite restructuring in 2025.

• Executed a cost reduction program, removing over $65M in costs, exceeding the initial $50M target.

• Achieved stabilization post-realignment, returning to positive adjusted EBITDA and free cash flow.

Financial performance and outlook

• Q1 2026 revenue reached $65.8M, up 41% year-over-year, with adjusted gross margin at 65.3%.

• TriLink base revenue grew 15% YoY, Cygnus up 1% YoY, and overall base revenue increased 10% YoY.

• Positive free cash flow of $4.2M in Q1 2026, with adjusted EBITDA at $20.3M.

• Anticipates $10–20M annual revenue from COVID GMP CleanCap® starting in 2026, now part of GMP consumables revenue.