Maravai LifeSciences Holdings, Inc. (MRVI) experienced a significant after-hours surge of 17.26% on Thursday, following the release of its first-quarter financial results.

The company reported quarterly revenue of $65.8 million, a 40.5% year-over-year increase that substantially beat analyst consensus estimates of $53 million. Adjusted EBITDA swung to a positive $20.3 million, far exceeding expectations of $4.04 million. The strong performance was primarily driven by a 65% year-over-year increase in TriLink revenue, fueled by $14.3 million in high-volume CleanCap orders for commercial COVID vaccine programs.

Maravai also raised its full-year 2026 guidance, increasing revenue expectations to $205-$215 million from $200-$210 million and boosting adjusted EBITDA outlook to $30-$32 million from $18-$20 million. The company highlighted improved operational efficiency and positive free cash flow generation as additional positive factors contributing to the bullish investor sentiment.