Maravai LifeSciences Announces Preliminary Unaudited First Quarter Revenues and Income From Operations Range
Maravai LifeSciences Holdings, Inc. (MRVI) announced preliminary revenue estimates for Q1 2021, expecting approximately $148 million, which represents a 190% increase compared to Q1 2020 and a sequential rise of 50% from Q4 2020.
Sentiment and the balance of points
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Rhea-AI Summary
Maravai LifeSciences Holdings, Inc. (MRVI) announced preliminary revenue estimates for Q1 2021, expecting approximately $148 million, which represents a 190% increase compared to Q1 2020 and a sequential rise of 50% from Q4 2020. The estimates exceed previous guidance of 30% to 35% growth. Income from Operations is projected to be between $80 million and $100 million. Revenues are primarily driven by strong performance in the Nucleic Acid Production segment, which accounts for $123.6 million, marking a 305% increase year-over-year.
Positive
- Anticipated total revenues of approximately $148 million for Q1 2021, up 190% YoY.
- Sequential revenue growth of 50% compared to Q4 2020 exceeds previous guidance.
- Projected Income from Operations between $80 million and $100 million.
- Strong performance in Nucleic Acid Production with $123.6 million, a 305% increase YoY.
Negative
- None.
Details
News Market Reaction – MRVI
The recorded move for MRVI in the trading session of this news was -5.09%.
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SAN DIEGO, April 05, 2021 (GLOBE NEWSWIRE) -- Maravai LifeSciences Holdings, Inc. (Maravai or the Company) (NASDAQ: MRVI), a global provider of life science reagents and services to researchers and biotech innovators, today provided preliminary unaudited revenue and Income from Operations estimates for the quarter ended March 31, 2021.
Subject to quarter-end closing adjustments, the Company expects to report total revenues of approximately
The financial information included in this press release is preliminary and subject to adjustment. It does not present all information necessary for an understanding of the Company’s first quarter of 2021. The Company expects to report its completed financial results for the first quarter of 2021 in May 2021.
"Maravai’s strong momentum continued in the first quarter of 2021, primarily driven by the continued strength of our Nucleic Acid Production business,” said Carl Hull, Chairman and CEO. “I am very proud of the ways in which our extraordinary team, and our partners, continue to scale meaningfully to address the global COVID-19 pandemic. We look forward to sharing our full financial results on our first quarter earnings release call scheduled for May 10,” added Hull.
Revenues by segment are expected to be:
| Three Months Ended March 31, | |||||||||||||||
| in millions | 2021 | 2020 | $ Change | % Change | |||||||||||
| Nucleic Acid Production | $ | 123.6 | $ | 30.5 | $ | 93.1 | 305 | % | |||||||
| Biologics Safety Testing | 17.6 | 14.3 | 3.3 | 23 | % | ||||||||||
| Protein Detection | 6.6 | 6.2 | 0.4 | 6 | |||||||||||