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Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) reported mixed results for the first quarter on Monday.
The company posted quarterly losses of 8 cents per share which missed the analyst consensus estimate of losses of 7 cents per share. The company reported quarterly sales of $46.85 million which beat the analyst consensus estimate of $44.01 million.
“Our first quarter revenue exceeded our guidance range, and our base business, which excludes revenue from high-volume CleanCap® for commercial vaccine programs, grew more than $4 million compared to the fourth quarter of 2024, reflecting solid execution and momentum across the business,” said Trey Martin, CEO, Maravai LifeSciences. “Our team remains committed to our return-to-growth strategy amid a dynamic and shifting macroeconomic environment. We believe our customer focus, our differentiated technologies and GMP services supporting clients from discovery through commercialization give us the best position to continue navigating the evolving landscape and drive long-term value for Maravai.”
Maravai LifeSciences said it sees FY2025 sales of $185.00 million to $205.00 million, versus market estimates of $192.75 million.
Maravai LifeSciences shares fell 3.5% to trade at $2.0450 on Tuesday.
These analysts made changes to their price targets on Maravai LifeSciences following earnings announcement.
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Posted In: MRVI