Maravai LifeSciences Postpones its Fourth Quarter and Full Year 2024 Earnings Release and Conference Call

Core Viewpoint - Maravai LifeSciences Holdings, Inc. is postponing its earnings release and call originally scheduled for February 25, 2025, and will file a Notification of Late Filing with the SEC due to delays in completing its year-end financial close process [1][2] Financial Reporting Delays - The company requires additional time to assess a potential non-cash impairment charge related to goodwill from its acquisition of Alphazyme LLC [2] - An error in revenue recognition was identified, where approximately $3.9 million in revenue was incorrectly recorded, but this is not expected to impact the full-year 2024 revenue, which is anticipated to be between$255 million and $265 million [2] - Maravai is also assessing the effectiveness of its disclosure controls and internal controls over financial reporting as of December 31, 2024, including remediation of a material weakness in internal controls over revenue recognition [2] Company Overview - Maravai is a leading life sciences company that provides essential products for drug therapies, diagnostics, and vaccine development, serving major biopharmaceutical, vaccine, diagnostics, and cell and gene therapy companies [3]