MRVI - Maravai LifeSciences Holdings Inc. (MRVI) Q4 2023 Earnings Call Transcript

2024-02-23 00:00:23 ET

Maravai LifeSciences Holdings, Inc. (MRVI)

Q4 2023 Earnings Conference Call

February 22, 2024 17:00 ET

Company Participants

Deb Hart - Investor Relations

Trey Martin - Chief Executive Officer

Kevin Herde - Chief Financial Officer

Drew Burch - President of Nucleic Acid Production

Conference Call Participants

Matt Larew - William Blair

Justin Bowers - Deutsche Bank

Catherine Schulte - Baird

Michael Ryskin - Bank of America

Conor McNamara - RBC Capital Markets

Paul Knight - KeyBanc

Presentation

Operator

Good afternoon and thank you for standing by. At this time, we would like to welcome everyone to the Q4 2023 Maravai LifeSciences Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to Deb Hart, Head of Investor Relations. Please, go ahead.

Deb Hart

Good afternoon, everyone. Thanks for joining us for our fourth quarter and year-end 2023 earnings call. Our press release and the slides that accompany today's call are posted on our website and are available at investors.maravai.com. As you can see on our agenda for today on Slide 2, Trey will first provide you with a business update and Kevin will review our financial results and guidance. Drew Burch, President of Nucleic Acid Production, will join the call for the question-and-answer session following our prepared remarks.

We remind you that management will make forward-looking statements and refer to GAAP and non-GAAP financial measures during today's call. It is possible that actual results could differ from management's expectations. We refer you to Slide 3 for more detail on forward-looking statements and our use of non-GAAP financial measures. Our just issued press release provides reconciliations to the most directly comparable GAAP measures. Please also refer to Maravai's SEC filings for additional information on the risks and uncertainties that may impact our operating results, performance and financial condition.

Now, I'll turn the call over to Trey.

Trey Martin

Thank you, Deb and good afternoon, everyone. We appreciate having you join us for our call today. Let's start with our financial results on Slide 5. Today, we reported $289 million in revenue for the full year and adjusted EBITDA of $65 million. Our fourth quarter results of $74 million in revenue were stronger than anticipated due to outperformance in our base Nucleic Acid Production segment, specifically for CleanCap and custom chemistry....

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