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Maravai Lifesciences Holdings cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$4.5M in Q3 2026 · −$13.3M over twelve months

Operating cash flow$5.0M
Capital spending−$523K
Free cash flow+$4.5M
Cash conversion cycle167 days

Analysis

In Q3 2026, Maravai Lifesciences Holdings generated $5.0M of operating cash flow and spent $523K on capital projects, leaving free cash flow of $4.5M. That is $22.6M more than in Q3 2025 (−$18.1M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$5.1M; the largest uses were net borrowing (+) / repaid (−) ($296M), capital spending ($8.2M), operating cash flow ($5.1M); besides operations, cash came from other financing ($138M), other investing ($734K); the cash balance fell by $170M.

Operating cash flow was $5.0M against net income of −$24.0M. The largest differences: depreciation & amortization +$12.2M, stock-based pay +$10.1M, receivables +$5.4M.

Its cash conversion cycle was 167 days (receivables 57 + inventory 131 − payables 21).

Free cash flow

Maravai Lifesciences Holdings: free cash flow by quarterMaravai Lifesciences Holdings: free cash flow by quarter−$20.5MQ4 2024−$13.9MQ1 2025−$13.1MQ2 2025−$18.1MQ3 2025−$25.6MQ4 2025$4.2MQ1 2026$3.6MQ2 2026$4.5MQ3 2026
Operating cash flow less capital spending.
Maravai Lifesciences Holdings: operating cash flow against capital spendingMaravai Lifesciences Holdings: operating cash flow against capital spendingOperating cash flowCapital spending−$14.6M$5.8MQ4 2024−$9.4M$4.5MQ1 2025−$10.3M$2.9MQ2 2025−$15.2M$2.9MQ3 2025−$22.8M$2.8MQ4 2025$8.7M$4.4MQ1 2026$4.0M$370KQ2 2026$5.0M$523KQ3 2026
Latest (Q3 2026): Operating cash flow $5.0M, Capital spending $523K.

Capital allocation, year by year

Maravai Lifesciences Holdings: where the cash came from (up) and went (down), by fiscal yearMaravai Lifesciences Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsFY2021: Operating cash flow $369MFY2021: Net borrowing −$6.0MFY2021: Shares issued $1.7MFY2021: Asset sales $120MFY2021: Capital spending −$14.8M$490MFY2021FY2022: Operating cash flow $536MFY2022: Net borrowing −$5.4MFY2022: Shares issued $2.4MFY2022: Asset sales $620KFY2022: Capital spending −$17.1MFY2022: Acquisitions −$239M$539MFY2022FY2023: Operating cash flow $126MFY2023: Net borrowing −$5.8MFY2023: Capital spending −$65.6MFY2023: Acquisitions −$69.6M$126MFY2023FY2024: Operating cash flow $7.5MFY2024: Net borrowing −$234MFY2024: Capital spending −$29.7M$7.5MFY2024FY2025: Operating cash flow −$57.6MFY2025: Net borrowing −$6.2MFY2025: Capital spending −$13.1MFY2025: Acquisitions −$19.0MFY2025
Over these 5 years operating cash flow totalled $981M; the largest uses were acquisitions ($328M) and net borrowing ($258M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$73.0M
Debt$147M
Net debt$74.2M
Due within a year$5.4M
Cash runway5.5 years

Maravai Lifesciences Holdings is burning cash: its operations consume cash, a free cash flow of −$13.3M a year at the current rate against $73.0M of cash and investments: a runway of about 5.5 years; $5.4M of debt also comes due within a year, which the cash covers before any new financing.

Maravai Lifesciences Holdings: debt maturities by year (FY2024)Maravai Lifesciences Holdings: debt maturities by year (FY2024)$5.4MYear 1$5.4MYear 2$289MYear 3
Principal due in each year as disclosed in the annual report, against $73.0M of cash and investments now.

Where the cash came from and went

Maravai Lifesciences Holdings: sources (+) and uses (−) of cash, Q3 2026Maravai Lifesciences Holdings: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$5.0MCash drawn (+) / kept (−)−$2.9MOther financing−$1.6MCapital spending−$523KExchange rates$10K
Maravai Lifesciences Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Maravai Lifesciences Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)−$296MCash drawn (+) / kept (−)$170MOther financing$138MCapital spending−$8.2MOperating cash flow−$5.1MOther investing$734KExchange rates$71K

From profit to cash

Maravai Lifesciences Holdings: net income to operating cash flow, Q3 2026Maravai Lifesciences Holdings: net income to operating cash flow, Q3 2026Net income−$24.0MDepreciation & amortization$12.2MStock-based pay$10.1MImpairments$2.0MOther non-cash$51KReceivables$5.4MInventory−$2.0MPayables−$296KAccrued liabilities−$5.2MPrepaid and other assets$1.2MOther liabilities$3.9MOperating cash flow$5.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20265713121167
Q2 20265712123155
Q1 20264011316138
Q4 20254410714137
Q3 20255611825148
Q2 20255411124141
Q1 20256411525155

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$5.0M−$523K——−$2.9M$4.5M
Q2 2026$4.0M−$370K—−$243M$95.3M$3.6M
Q1 2026$8.7M−$4.4M—−$51.4M$51.0M$4.2M
Q4 2025−$22.8M−$2.8M—−$1.6M$26.7M−$25.6M
Q3 2025−$15.2M−$2.9M—−$1.6M$26.3M−$18.1M
Q2 2025−$10.3M−$2.9M−$362K−$1.5M$15.1M−$13.1M
Q1 2025−$9.4M−$4.5M−$18.6M−$1.5M$37.3M−$13.9M
Q4 2024−$14.6M−$5.8M—−$230M$256M−$20.5M

Maravai Lifesciences Holdings: income statement and cash flow

Maravai Lifesciences Holdings, Q3 2026: revenue $45.9M (+10% year over year), operating margin -45.0%. The chart follows the revenue to costs, profit and cash.

Maravai Lifesciences Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.