Maravai Lifesciences Holdings ( (MRVI) ) has released a notification of late filing.
Maravai LifeSciences Holdings has announced a delay in filing its Form 10-K (Yearly Report) for the fiscal year ending December 31, 2024. The primary reasons for the delay include the need to complete assessments related to a potential non-cash impairment charge for goodwill and excess inventory linked to its acquisition of Alphazyme LLC, as well as an error in revenue recognition. The company anticipates filing the report within 15 days of the original due date. Preliminary financial results indicate a decrease in revenue to approximately $259 million from $289 million in the previous year, with a significant increase in net loss expected. Maravai is actively working on addressing internal control deficiencies and ensuring compliance, as stated by CFO Kevin M. Herde.
More about Maravai Lifesciences Holdings
YTD Price Performance: -41.35%
Average Trading Volume: 2,463,478
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $813.1M
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