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Maravai Lifesciences Holdings (MRVI) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Maravai Lifesciences Holdings (MRVI) Q3 2026 earnings results →
Q3 2026 Revenue up 10% year over year to $45.9M · 52¢ of every $1 of revenue lost · operating margin -45.0%
Maravai Lifesciences Holdings made $45.9M in Q3 2026 (+10% Y/Y): TriLink $28.4M, Cygnus $17.5M. Operating margin -45.0%, net loss $24.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
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Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $45.9M in Q3 2026, up 10% year over year and down 11% from the previous quarter. TriLink was the largest line at 62% of revenue. TriLink added $3.0M year over year (up 12%), 71% of the total change.
Gross margin was 35.3%, up 21.7 points from Q3 2025. Operating costs exceeded revenue by $20.6M, an operating margin of -45.0%. Operating expenses fell 21% while revenue rose 10%. The quarter ended with a net loss of $24.0M, wider than the previous quarter's $21.6M loss. Minority interests bore $10.2M of it: to shareholders the quarter was a loss of $13.8M.
Operating cash flow was $5.0M. Non-cash charges added back $12.2M of depreciation and amortization and $10.1M of share-based compensation. Working capital and other items added $6.7M. Capital expenditures of $523K left free cash flow of $4.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $45.9M | +10% | -45.0% | −$24.0M | $5.0M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $51.4M | +8% | -29.3% | −$21.6M | $4.0M |
| Q1 2026 | 10-Q | May 8, 2026 | $65.8M | +40% | -3.3% | −$6.4M | $8.7M |
| Q4 2025 | 10-K | Feb 26, 2026 | $49.9M | -12% | -117.9% | −$63.0M | −$22.8M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $41.6M | -40% | -98.6% | −$45.1M | −$15.2M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $47.4M | -32% | -139.8% | −$69.8M | −$10.3M |
| Q1 2025 | 10-Q | May 12, 2025 | $46.9M | -27% | -104.9% | −$52.9M | −$9.4M |
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Customers and suppliers named in filings
Sells to
- Nacalai USA, Inc — 21% of its revenue · Stated in 10-K (XBRL) · source
About Maravai Lifesciences Holdings
Maravai LifeSciences Holdings, Inc. (also referred to in this document as “Maravai,” “we,” “us,” “our” or “the Company”) is a life sciences company providing critical products and services to enable the development of drugs, therapeutics, vaccines, and diagnostics, and support research on human disease. Our customers include biopharmaceutical companies, emerging biotech firms, life science research organizations, academic research institutions and diagnostics companies. We operate and report our business in two segments – TriLink, formerly referred to as Nucleic Acid Production, and Cygnus, formerly referred to as Biologics Safety Testing.
In its own words, from its 10-K, filed Feb 26, 2026.
Maravai Lifesciences Holdings against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +10% against the peers' median +10%. Operating margin: -45.0% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MRVI Maravai Lifesciences Holdings | Q3 2026 | $45.9M | +10% | -45.0% |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: Maravai Lifesciences Holdings 10-Q on SEC EDGAR · CIK 1823239 · Pharmaceutical Preparations
Guidance and outlook
13F: who owns MRVI and who is buying
More on MRVI
- How Maravai Lifesciences Holdings makes money: revenue by segment
- Maravai Lifesciences Holdings next earnings date and what analysts expect
- Maravai Lifesciences Holdings stock forecast, price target and fair value
- Who owns Maravai Lifesciences Holdings stock: holders, funds and Congress trades
- Maravai Lifesciences Holdings guidance and outlook
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results