Maravai LifeSciences (MRVI) Stock Plummets After Q3 2025 Revenue Miss and Weak Guidance

Last update: Nov 7, 2025

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) reported financial results for the third quarter of 2025 that fell short of analyst expectations, leading to a sharp decline in its stock price during after-hours trading.

Earnings and Revenue Versus Estimates

The company's performance in the third quarter did not meet the financial targets set by market analysts. The primary shortfalls were in both top-line revenue and bottom-line earnings.

Revenue: Maravai reported revenue of $41.6 million for the quarter, which was significantly below the analyst consensus estimate of approximately $50.0 million.
Earnings Per Share (EPS): The company reported a net loss of $(45.1) million. On a non-GAAP EPS basis, the loss was $0.08 per share, which was slightly better than the estimated loss of $0.0833 per share.

The market's reaction was decisively negative, with the stock dropping over 9% in after-hours trading following the announcement. This price action reflects investor disappointment with the revenue miss and the company's continued losses.

Third Quarter 2025 Financial Highlights

The earnings report detailed a challenging quarter, characterized by a significant year-over-year decline in revenue but also highlighted a segment showing resilience.

Total Revenue: $41.6 million, a 39.7% decrease compared to the third quarter of 2024.
Net Loss: $(45.1) million, an improvement from a net loss of $(172.5) million in the prior year period, which was heavily impacted by a goodwill impairment charge.
Adjusted EBITDA (non-GAAP): $(10.8) million, down from $16.2 million in Q3 2024.

The results were driven by divergent performances in the company's two main business segments. The Nucleic Acid Production segment saw revenue fall 52.9% year-over-year to $25.4 million, primarily due to the absence of high-volume CleanCap orders for commercial vaccines and a softer research funding environment. In contrast, the Biologics Safety Testing segment posted a 7.2% increase in revenue to $16.3 million, showing strength across nearly all its product lines.

Management Commentary and Forward Outlook

In the press release, CEO Bernd Brust struck a cautiously optimistic tone regarding the future. He expressed confidence in the underlying business, noting that the Cygnus unit continues to perform well and that the TriLink business, while "lumpy by nature, shows strong funnel and order velocity." Brust stated that the work to "reset, refocus, and strengthen the company" positions it to "deliver attractive financial results in the fourth quarter and 2026."

The company provided revenue guidance for the full year 2025, expecting approximately $185.0 million. This forecast falls notably short of the analyst sales estimate of $195.8 million for the full year. For the upcoming fourth quarter, this guidance implies an expectation of roughly $49.1 million in revenue, which is slightly below the analyst consensus of $49.6 million. The company's guidance does not include potential revenue from new high-volume CleanCap orders or acquisitions.

Conclusion

Maravai's third-quarter results paint a picture of a company navigating a difficult post-pandemic transition. The substantial revenue miss and guidance that trails analyst expectations for the full year are the key drivers behind the negative market reaction. While management points to a strong customer funnel and cost-saving initiatives as reasons for optimism in 2026, investors are currently focused on the persistent top-line challenges, particularly in the key Nucleic Acid Production segment. The company's ability to return to growth hinges on a recovery in research and development spending and securing new large-scale commercial orders.

For a detailed look at historical earnings and future analyst estimates for Maravai LifeSciences, you can review the data here.

Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any security. Investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions.