Filing Flows › Maravai Lifesciences Holdings (MRVI) › Q4 2025
Maravai Lifesciences Holdings (MRVI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Maravai Lifesciences Holdings (MRVI) reported revenue of $49.9M for the fourth quarter 2025 (Q4 2025), -12% from a year earlier and +20% from the quarter before. Operating margin was -117.9%, net loss $63.0M (126.4% of revenue).
Maravai Lifesciences Holdings, Q4 2025: revenue $49.9M (-12% year over year), operating margin -117.9%, net loss $63.0M, operating cash flow −$22.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $49.9M | +20% | -12% |
| Operating profit | −$58.8M | — | — |
| Net earnings | −$63.0M | — | — |
| Operating cash flow | −$22.8M | — | — |
What changed
Revenue was $49.9M in Q4 2025, down 12% year over year and up 20% from the previous quarter.
Gross margin was 25.8%, down 8.5 points from a year earlier. Operating costs exceeded revenue by $58.8M, an operating margin of -117.9%. Operating expenses grew 25% against a revenue fall of 12%. The fastest-growing cost line was Other operating costs (+221%). The quarter ended with a net loss of $63.0M, wider than the previous quarter's $45.1M loss. Minority interests bore $27.3M of it: to shareholders the quarter was a loss of $35.7M.
Operating cash flow was −$22.8M. Non-cash charges added back $12.4M of depreciation and amortization and $3.9M of share-based compensation. Working capital and other items added $23.9M. Capital expenditures of $2.1M exceeded it, leaving free cash flow of −$24.9M.
Questions
What was Maravai Lifesciences Holdings' revenue in the fourth quarter 2025?
Maravai Lifesciences Holdings (MRVI) reported revenue of $49.9M for the fourth quarter 2025 (Q4 2025), -12% from a year earlier and +20% from the quarter before.
Was Maravai Lifesciences Holdings profitable in the fourth quarter 2025?
Operating loss was $58.8M (-117.9% of revenue) and net loss $63.0M.