MARAVAI LIFESCIENCES HOLDINGS, INC.
For the period ended Dec 31, 2024. Filed Mar 18, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 18, 2025
MRVI$7.86-2.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating activities: | |||
| Net (loss) income | $(259,622) | $(138,375) | $490,663 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||
| Depreciation | 20,852 | 12,898 | 7,566 |
| Amortization of intangible assets | 27,531 | 27,356 | 24,269 |
| Amortization of operating lease right-of-use assets | 8,482 | 8,527 | 6,268 |
| Amortization of deferred financing costs | 2,896 | 2,929 | 2,788 |
| Stock-based compensation expense | 49,415 | 34,588 | 18,670 |
| Loss on extinguishment of debt | 3,187 | — | 208 |
| Deferred income taxes | 11 | 754,942 | 42,318 |
| Change in estimated fair value of contingent consideration | (2,003) | (3,286) | (7,800) |
| Goodwill impairment | 166,151 | — | — |
| Revaluation of liabilities under the Tax Receivable Agreement | 40 | (668,886) | 4,102 |
| Acquisition related tax adjustment | 2,306 | 1,293 | 349 |
| Other | 833 | (3,606) | (8,342) |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable | 14,359 | 84,395 | (22,272) |
| Inventory | 377 | 649 | 9,459 |
| Prepaid expenses and other current and noncurrent assets | 1,966 | 8,136 | (35,900) |
| Accounts payable | 723 | 5,284 | (1,578) |
| Accrued expenses and other current liabilities | (22,754) | 15,108 | 8,503 |
| Deferred revenue | (986) | 250 | (7,123) |
| Other long-term liabilities | (6,299) | (15,978) | 3,829 |
| Net cash provided by operating activities | 7,465 | 126,224 | 535,977 |
| Investing activities: | |||
| Cash paid for acquisition, net of cash acquired | — | (69,622) | (238,969) |
| Acquisition deposit | (300) | — | — |
| Purchases of property and equipment | (29,658) | (65,553) | (17,090) |
| Proceeds from government assistance allocated to property and equipment | 7,142 | 12,865 | 1,105 |
| Prepaid lease payments on finance lease yet to commence | — | — | (13,278) |
| Purchase of technology | (1,500) | — | — |
| Proceeds from sale of business, net of cash divested | — | — | 620 |
| Net cash used in investing activities | (24,316) | (122,310) | (267,612) |
| Financing activities: | |||
| Distributions to non-controlling interests holders | (494) | (9,607) | (150,206) |
| Proceeds from borrowings of long-term debt, net of discount | 953 | — | 8,455 |
| Principal repayments of long-term debt | (234,393) | (5,440) | (13,895) |
| Financing costs paid to acquire long-term debt | (1,241) | — | — |
| Payments of finance lease liabilities | (633) | (332) | — |
| Proceeds from interest rate cap agreement | 9,287 | 6,168 | — |
| Payment of acquisition consideration holdback | — | (9,706) | — |
| Payments to MLSH 1 pursuant to the Tax Receivable Agreement | (6,014) | (35,661) | (29,108) |
| Payments to MLSH 2 pursuant to the Tax Receivable Agreement | (1,095) | (6,492) | (5,103) |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (Taxes paid for shares withheld) proceeds from issuance of Class A common stock under employee equity plans, net | (2,082) | (20) | 2,358 |
| Net cash used in financing activities | (235,712) | (61,090) | (187,499) |
| Net (decrease) increase in cash and cash equivalents | (252,563) | (57,176) | 80,866 |
| Cash and cash equivalents, beginning of period | 574,962 | 632,138 | 551,272 |
| Cash and cash equivalents, end of period | $322,399 | $574,962 | $632,138 |
| Supplemental cash flow information: | |||
| Cash paid for interest | $50,973 | $44,256 | $20,198 |
| Cash paid (refunded) for income taxes, net | $670 | $(2,987) | $23,032 |
| Supplemental disclosures of non-cash activities: | |||
| Property and equipment included in accounts payable and accrued expenses | $2,616 | $2,011 | $1,701 |
| Accrued receivable for capital expenditures to be reimbursed under a government contract | $734 | $1,118 | $— |
| Right-of-use assets obtained in exchange for finance lease liabilities | $— | $32,862 | $— |
| Right-of-use assets obtained in exchange for operating lease liabilities | $1,287 | $3,931 | $17,513 |
| Fair value of contingent consideration liability recorded in connection with acquisition of a business | $— | $5,289 | $7,800 |
| Accrued consideration payable for MyChem acquisition | $— | $— | $10,000 |
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