Maravai (MRVI) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Sat, May 9, 2026 astatine 3:35 PM CDT 26 min read

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DATE

May 7, 2026

CALL PARTICIPANTS

• Chief Executive Officer — Bernd Brust

• Chief Financial Officer — Rajesh Asarpota

• Chief Scientific Officer — Chanfeng Zhao

• Investor Relations — Debra Hart

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Full Conference Call Transcript

Debra Hart: Good afternoon, everyone. Thanks for joining america for our archetypal 4th 2026 net call. The property merchandise and slides accompanying today's telephone are posted connected our website and disposable astatine investors.maravai.com. As you tin spot from the docket connected Slide 2, our CEO, Bernd Brust, volition supply a concern update and our CFO, Rajesh Asarpota, volition reappraisal our fiscal results. Chanfeng Zhao, our Chief Scientific Officer, volition articulation america for the Q&A session. Management volition marque forward-looking statements and notation to GAAP and non-GAAP fiscal measures during today's call. It is imaginable that existent results could disagree from expectations. We notation you to Slide 3 for details connected forward-looking statements and our usage of non-GAAP fiscal measures.

The property merchandise provides reconciliations to the astir straight comparable GAAP measures and we besides station reconciling schedules to our capitalist website. Please besides notation to Maravai LifeSciences Holdings, Inc.’s SEC filings for further accusation connected the risks and uncertainties that whitethorn interaction our operating results, performance, and fiscal condition. Now I volition crook the telephone implicit to Bernd. Good afternoon, and convey you for joining us.

Bernd Brust: We are precise pleased with our archetypal 4th performance, which represents a beardown commencement to 2026 and builds connected the momentum we exited with past year. The 4th results bespeak coagulated execution crossed the concern and reenforce our assurance successful the trajectory we outlined connected our telephone successful February. Turning to Slide 5, we delivered full Q1 gross of $65.8 million. That is 41% year-over-year growth, and 10% year-over-year maturation successful our basal concern erstwhile you exclude COVID-related CleanCap revenue. This show was driven by improved TriLink demand, dependable publication from Cygnus, and continued advancement against our strategical priorities.

TriLink gross grew 65% twelvemonth implicit year, with basal concern maturation of 15%, supported by beardown request successful some GMP and find consumables. At Cygnus, gross grew a small much than 1% twelvemonth implicit year. We saw coagulated underlying momentum with precocious single-digit maturation successful North America and debased single-digit maturation successful EMEA, reinforcing our assurance successful the positioning of the business. This was partially offset by little publication from China owed to distributor ordering timing. From a profitability standpoint, we delivered adjusted gross borderline of 65.3% and adjusted EBITDA of $20.3 million. These results bespeak the payment of higher revenue, favorable merchandise and lawsuit mix, and the outgo disciplines we person implemented crossed the organization.