Maravai LifeSciences Holdings, Inc. (MRVI) · 10+ Years of Financial statements

Income Statement	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	124	143	284	799	883	289
+ Sales & Services Revenue	124	143	284	799	883	289
- Cost of Revenue	61	67	80	141	169	149
+ Cost of Goods & Services	61	67	80	141	169	149
Gross Profit	63	76	204	659	714	140
+ Other Operating Income	- -	- -	- -	- -	- -	- -
- Operating Expenses	46	52	104	115	148	169
+ Selling, General & Admin	41	48	94	100	129	151
+ Research & Development	4	4	9	15	18	17
+ Other Operating Expense	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	17	24	101	543	566	-28
- Non-Operating (Income) Loss	34	30	19	13	15	-646
+ Interest Expense, Net	27	30	31	30	18	18
+ Interest Expense	27	30	31	30	20	46
- Interest Income	- -	- -	- -	- -	2	28
+ Other Non-Op (Income) Loss	6	- -	-12	-18	-3	-664
Pretax Income	-16	-6	82	531	551	618
- Income Tax Expense (Benefit)	- -	-1	3	62	61	756
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-17	-5	79	469	491	-138
- Net Extraordinary Losses (Gains)	2	7	4	574	541	-39
+ Discontinued Operations	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	2	7	4	574	541	-39
Income (Loss) Incl. MI	-19	-12	75	-105	-50	-100
- Minority Interest	-1	-3	-2	-287	-270	19
Net Income, GAAP	-18	-8	77	182	220	-119
- Preferred Dividends	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-18	-8	77	182	220	-119
Basic Weighted Avg Shares	89	89	10	115	132	132
Basic EPS, GAAP	-0.2	-0.1	7.43	1.59	1.67	-0.9
Basic EPS from Cont Ops	-0.19	-0.06	7.61	4.09	3.73	-1.05
Diluted Weighted Avg Shares	89	89	29	258	255	132
Diluted EPS, GAAP	-0.2	-0.1	2.66	0.71	0.86	-0.9
Diluted EPS from Cont Ops	-0.19	-0.06	2.73	1.82	1.92	-1.05
EBITDA	40	48	127	577	605	20
EBITDA Margin (%)	32.08	33.81	44.61	72.19	68.46	7.03
EBITA	17	24	101	543	566	-28
EBIT	17	24	101	543	566	-28
Gross Margin (%)	50.93	53.3	71.96	82.41	80.87	48.52
Operating Margin (%)	14.03	16.98	35.52	67.99	64.15	-9.85
Profit Margin (%)	-14.32	-5.93	27.06	22.78	24.94	-41.19
Sales per Employee	- -	- -	692,922	1,700,511	1,447,543	444,531
Dividend per Share	0.59	- -	- -	- -	- -	- -
Depreciation Expense	22	24	26	34	38	49

Balance Sheet	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	54	61	332	740	848	700
+ Cash, Cash Equivalents & STI	22	25	236	551	632	575
+ Cash & Cash Equivalents	22	25	236	551	632	575
+ ST Investments	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	16	18	51	118	147	56
+ Accounts Receivable, Net	16	18	51	118	139	55
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	8	1
+ Inventories	14	14	33	52	43	51
+ Raw Materials	5	5	11	20	13	19
+ Work In Process	4	6	18	21	22	13
+ Finished Goods	5	3	4	10	8	19
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -
+ Other ST Assets	2	4	11	20	26	18
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	486	517	939	1,178	1,434	788
+ Property, Plant & Equip, Net	43	94	101	95	117	223
+ Property, Plant & Equip	47	102	112	108	136	255
- Accumulated Depreciation	4	8	11	13	20	32
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -
+ Other LT Assets	443	423	838	1,083	1,318	565
+ Total Intangible Assets	442	422	402	270	528	547
+ Goodwill	224	224	224	153	284	326
+ Other Intangible Assets	218	198	178	118	244	221
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	1	1	436	812	790	18
Total Assets	540	578	1,271	1,918	2,282	1,487
+ Payables & Accruals	24	19	27	53	64	56
+ Accounts Payable	4	7	8	8	6	11
+ Accrued Taxes	2	3	5	1	1	1
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	18	8	14	43	57	44
+ ST Debt	2	2	6	10	12	13
+ ST Borrowings	2	2	6	6	5	5
+ ST Finance Leases	- -	- -	- -	4	6	7
+ Other ST Liabilities	10	9	98	32	35	18
+ Deferred Revenue	1	1	79	13	5	6
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	9	8	18	19	30	13
Total Current Liabilities	36	30	131	94	110	87
+ LT Debt	337	388	585	565	574	598
+ LT Borrowings	336	335	529	525	522	519
+ LT Finance Leases	2	53	56	41	52	79
+ Other LT Liabilities	18	16	400	714	693	12
+ Accrued Liabilities	16	15	9	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	2	1	392	714	693	12
Total Noncurrent Liabilities	356	404	985	1,279	1,267	610
Total Liabilities	392	433	1,116	1,373	1,377	698
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	183	184	88	131	140	131
+ Common Stock	183	184	3	3	3	3
+ Additional Paid in Capital	- -	- -	85	128	138	129
- Treasury Stock	- -	- -	- -	- -	- -	- -
+ Retained Earnings	-38	-42	1	185	405	286
+ Other Equity	- -	- -	- -	- -	- -	- -
Equity Before Minority Interest	144	141	89	315	545	417
+ Minority/Non Controlling Interest	4	3	66	230	360	373
Total Equity	148	145	155	545	905	790
Total Liabilities & Equity	540	578	1,271	1,918	2,282	1,487
Shares Outstanding	89	89	97	131	132	132
Capital Leases - Total	2	53	56	45	58	87
Net Debt	316	313	298	-21	-105	-51
Net Debt to Equity	213.61	216.13	192.85	-3.79	-11.57	-6.43
Tangible Common Equity Ratio	-302.64	-178.26	-28.45	16.69	21.52	25.83
Current Ratio	1.5	2.05	2.54	7.89	7.7	8
Cash Conversion Cycle	- -	90.91	124.28	129.9	139.16	218.61
Number of Employees	- -	- -	410	470	610	650

Cash Flow Statement	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	-17	-5	79	469	491	-138
+ Depreciation & Amortization	22	24	26	34	38	49
+ Non-Cash Items	10	3	12	42	52	118
+ Stock-Based Compensation	2	2	25	10	19	35
+ Deferred Income Taxes	- -	-1	-5	47	42	755
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	8	2	-8	-15	-9	-672
+ Chg in Non-Cash Work Cap	-16	2	36	-177	-45	98
+ (Inc) Dec in Accts Receiv	-4	-2	-33	-70	-22	84
+ (Inc) Dec in Inventories	2	- -	-19	-22	9	1
+ (Inc) Dec in Prepaid Assets	-1	-2	-6	-10	-53	8
+ Inc (Dec) in Accts Payable	2	6	19	-3	7	20
+ Inc (Dec) in Other	-16	- -	75	-72	14	-16
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	- -	24	152	369	536	126
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	34	1	1	13
+ Disp of Fixed Prod Assets	- -	- -	34	1	1	13
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-4	-17	-25	-15	-17	-66
+ Acq of Fixed Prod Assets	-4	-17	-25	-15	-17	-66
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	-3	120	-238	-70
+ Cash from Divestitures	- -	- -	- -	120	1	- -
+ Cash for Acq of Subs	- -	- -	-3	- -	-239	-70
+ Cash for JVs	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	-13	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-3	-17	6	106	-268	-122
+ Dividends Paid	-52	- -	- -	- -	- -	- -
+ Net Cash From Debt	55	-3	197	-6	-5	-6
+ Cash From Debt	311	- -	609	- -	8	- -
+ Repayments of Debt	-255	-3	-412	-6	-14	-6
+ Cash (Repurchase) of Equity	- -	- -	301	- -	- -	- -
+ Increase in Capital Stock	- -	- -	1,759	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	-1,458	- -	- -	- -
+ Other Financing Activities	-13	-2	-445	-153	-182	-55
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-9	-4	53	-159	-187	-61
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-13	3	211	315	81	-57
Capital Expenditures	-4	-17	-25	-15	-17	-66
EBITDA	40	48	127	577	605	20
EBITDA Margin (%)	32.08	33.81	44.61	72.19	68.46	7.03
Net Cash Paid for Acquisitions	- -	- -	3	-120	238	70
Free Cash Flow	-4	7	127	354	519	61
Free Cash Flow to Firm	- -	- -	156	380	537	50
Free Cash Flow to Equity	- -	4	358	348	515	68
Free Cash Flow per Basic Share	-0.04	0.08	12.25	3.08	3.94	0.46
Price/Free Cash Flow	- -	- -	4.56	28.08	6.44	4.61
Cash Flow to Net Income	0.01	-2.84	1.98	2.02	2.43	-1.06

Maravai LifeSciences Holdings, Inc.

MRVI US

7.22