Maravai LifeSciences Holdings, Inc. reported third quarter 2024 revenue of $65.0 million, a decrease from $100.0 million in the same period of the prior year. The company recorded a net loss of $10.0 million for the quarter, contrasting with a net income of $1.0 million in Q3 2023.
Adjusted EBITDA for the third quarter was $10.0 million, down from $35.0 million in Q3 2023. These financial results reflect a challenging period for the company, with significant declines in key profitability metrics.
Concurrently, Maravai announced an agreement to acquire the DNA and RNA business of Officinae Bio, aiming to advance support for innovative nucleic acid research and development. This acquisition is expected to enhance TriLink's front-end offerings with Officinae Bio's AI-driven digital platform, providing differentiated design and bioprocess optimization capabilities.
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