Maravai LifeSciences Holdings Inc. reported revenue of $41.6 million for the third quarter ended September 30, 2025, compared to $69.0 million in the same period in 2024. Net loss for the quarter was $(45.1) million, while Adjusted EBITDA was $(10.8) million. For the nine months ended September 30, 2025, revenue totaled $135.9 million, down from $202.6 million in the prior year period. Net loss for the nine-month period was $(167.7) million, compared to $(213.6) million last year, with Adjusted EBITDA at $(31.7) million versus $37.0 million in 2024. The company expects full year 2025 revenue of approximately $185.0 million. Maravai continues organizational restructuring and cost reduction initiatives, with Cygnus performing well and TriLink expected to achieve double-digit sequential revenue growth in the fourth quarter.