Maravai LifeSciences Holdings, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 23, 2024 at 02:35 am IST
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Maravai LifeSciences Holdings, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 74.14 million compared to USD 204.71 million a year ago. Net loss was USD 105.96 million compared to net income of USD 37.63 million a year ago. Basic loss per share from continuing operations was USD 0.8 compared to basic earnings per share from continuing operations of USD 0.28 a year ago. Diluted loss per share from continuing operations was USD 0.8 compared to diluted earnings per share from continuing operations of USD 0.28 a year ago.
For the full year, sales was USD 288.95 million compared to USD 883 million a year ago. Net loss was USD 119.03 million compared to net income of USD 220.21 million a year ago. Basic loss per share from continuing operations was USD 0.9 compared to basic earnings per share from continuing operations of USD 1.67 a year ago. Diluted loss per share from continuing operations was USD 0.9 compared to diluted earnings per share from continuing operations of USD 1.67 a year ago.
Maravai LifeSciences Holdings, Inc. is a life sciences company. The Company provides products that enable the development of drug therapies, diagnostics and vaccines and to support research on human diseases. Its companies provide products and services in the fields of nucleic acid synthesis and biologics safety testing to various biopharmaceutical, vaccine, diagnostics, and cell and gene therapy companies. The Company operates through two segments. Nucleic Acid Production segment is focused on the manufacturing and sale of highly modified nucleic acid products to support the needs of customer research, therapeutic and vaccine programs. The segment also provides research products for labeling and detecting proteins in cells and tissue samples. Biologics Safety Testing segment is focused on manufacturing and selling biologics safety and impurity tests and assay development services that are utilized by its customers in their biologic drug manufacturing activities.