MARAVAI LIFESCIENCES HOLDINGS, INC.

For the period ended Dec 31, 2025. Filed Feb 26, 2026.

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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.

FY2025 · Filed Feb 26, 2026

MRVI$7.86-2.0%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2025	2024	2023
Operating activities:
Net loss	$(230,762)	$(259,622)	$(138,375)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation	23,558	20,852	12,898
Amortization of intangible assets	27,951	27,531	27,356
Amortization of operating lease right-of-use assets	8,963	8,482	8,527
Amortization of deferred financing costs	1,654	2,896	2,929
Stock-based compensation expense	30,174	49,415	34,588
Loss on extinguishment of debt	—	3,187	—
Deferred income taxes	(20)	11	754,942
Change in estimated fair value of contingent consideration	—	(2,003)	(3,286)
Impairment	84,597	166,151	—
Revaluation of liabilities under the Tax Receivable Agreement	—	40	(668,886)
Acquisition related tax adjustment	4,082	2,306	1,293
Other	212	833	(3,606)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	12,816	14,359	84,395
Inventory	7,999	377	649
Prepaid expenses and other current assets	1,626	1,813	7,275
Other assets	181	153	861
Accounts payable	(7,347)	723	5,284
Accrued expenses and other current liabilities	(4,626)	(23,740)	15,358
Other long-term liabilities	(18,631)	(6,299)	(15,978)
Net cash (used in) provided by operating activities	(57,573)	7,465	126,224
Investing activities:
Cash paid for acquisitions of a business, net of cash acquired	(18,990)	—	(69,622)
Purchases of property and equipment	(13,149)	(29,658)	(65,553)
Proceeds from government assistance allocated to property and equipment	734	7,142	12,865
Other investing activities, net	—	(1,800)	—
Net cash used in investing activities	(31,405)	(24,316)	(122,310)
Financing activities:
Refunds (distributions) for tax liabilities to non-controlling interests holder	10	(494)	(9,607)
Principal repayments of long-term debt	(5,440)	(234,393)	(5,440)
Financing costs paid to acquire long-term debt	—	(1,241)	—
Proceeds from interest rate cap agreement	1,375	9,287	6,168
Payments of acquisition related contingent consideration and consideration holdback	(6,800)	—	(9,706)
Payments pursuant to the Tax Receivable Agreement	—	(7,109)	(42,153)
Other financing activities, net	(5,644)	(1,762)	(352)
Net cash used in financing activities	(16,499)	(235,712)	(61,090)
Effects of exchange rate changes on cash	(32)	—	—
Net decrease in cash and cash equivalents	(105,509)	(252,563)	(57,176)
Cash and cash equivalents, beginning of period	322,399	574,962	632,138

	Year Ended December 31,
	2025	2024	2023
Cash and cash equivalents, end of period	$216,890	$322,399	$574,962
Supplemental cash flow information:
Cash paid for interest	$24,976	$50,973	$44,256
Cash (refunded) paid for income taxes, net	$(555)	$670	$(2,987)
Supplemental disclosures of non-cash activities:
Property and equipment included in accounts payable and accrued expenses	$3,669	$2,616	$2,011
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	$463	$1,287	$3,931
Fair value of contingent consideration liability recorded in connection with acquisition of a business	$—	$—	$5,289

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