Maravai LifeSciences Holdings, Inc. reported second quarter 2025 revenue of $47.4 million, representing a 31.7% decrease compared to the same period in the prior year. The company posted a net loss of $(69.8) million and an Adjusted EBITDA of $(10.4) million for the quarter.
In response to its financial performance and existing cost structure, Maravai announced organizational restructuring and operating cost reduction initiatives targeting more than $50 million in annualized cost savings. These initiatives encompass labor, facilities, capital expenditures, and productivity measures.
The company also withdrew and suspended its revenue guidance for the full year 2025, citing the ongoing comprehensive business review by the new leadership team. Maravai expects to incur restructuring charges of approximately $8.0 million to $9.0 million, primarily for employee severance, with the majority anticipated in the second half of 2025.
Despite the overall revenue decline, the company's base business revenue, which excludes high-volume CleanCap for commercialized vaccine programs, grew 5% year-over-year, driven by strong demand for its Cygnus products and services. Maravai anticipates achieving net loss reduction, positive Adjusted EBITDA, and positive free cash flow by the second half of 2026.
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