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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and MARAVAI LIFESCIENCES HOLDINGS, INC. (MRVI). Click either name above to swap in a different company.
MARAVAI LIFESCIENCES HOLDINGS, INC. is the larger business by last-quarter revenue ($49.9M vs $44.9M, roughly 1.1× AbCellera Biologics Inc.). AbCellera Biologics Inc. runs the higher net margin — -19.9% vs -71.6%, a 51.6% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs -11.8%). MARAVAI LIFESCIENCES HOLDINGS, INC. produced more free cash flow last quarter ($-24.9M vs $-44.6M). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs -11.9%).
AbCellera Biologics Inc. is a Vancouver, British Columbia-based biotechnology company that discovers and develops antibody therapeutics. The company is best known for its leading role in the Pandemic Prevention Platform, a project of DARPA's Biological Technologies Office. AbCellera utilizes a proprietary technology platform, which they claim can develop "medical countermeasures within 60 days." Its platform for single-cell screening was initially developed at the University of British Columbia.
Maravai LifeSciences Holdings is a global life sciences firm developing critical reagents, diagnostic products, and tech solutions to support biopharma research, drug development, clinical diagnostics, and cell/gene therapy manufacturing. It serves biotech, pharma, research bodies and labs worldwide across three core segments.
ABCL vs MRVI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $49.9M |
| Net Profit | $-8.9M | $-35.7M |
| Gross Margin | — | 25.8% |
| Operating Margin | -63.7% | -117.9% |
| Net Margin | -19.9% | -71.6% |
| Revenue YoY | 788.4% | -11.8% |
| Net Profit YoY | 73.9% | -37.7% |
| EPS (diluted) | $-0.03 | $-0.24 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $44.9M | $49.9M | ||
| Q3 25 | $9.0M | $41.6M | ||
| Q2 25 | $17.1M | $47.4M | ||
| Q1 25 | $4.2M | $46.9M | ||
| Q4 24 | $5.0M | $56.6M | ||
| Q3 24 | $6.5M | $69.0M | ||
| Q2 24 | $7.3M | $69.4M | ||
| Q1 24 | $10.0M | $64.2M |
| Q4 25 | $-8.9M | $-35.7M | ||
| Q3 25 | $-57.1M | $-25.6M | ||
| Q2 25 | $-34.7M | $-39.6M | ||
| Q1 25 | $-45.6M | $-29.9M | ||
| Q4 24 | — | $-25.9M | ||
| Q3 24 | $-51.1M | $-97.1M | ||
| Q2 24 | $-36.9M | $-9.8M | ||
| Q1 24 | $-40.6M | $-12.1M |
| Q4 25 | — | 25.8% | ||
| Q3 25 | — | 13.6% | ||
| Q2 25 | — | 16.4% | ||
| Q1 25 | — | 16.5% | ||
| Q4 24 | — | 34.3% | ||
| Q3 24 | — | 46.7% | ||
| Q2 24 | — | 44.4% | ||
| Q1 24 | — | 40.3% |
| Q4 25 | -63.7% | -117.9% | ||
| Q3 25 | -851.8% | -98.6% | ||
| Q2 25 | -290.2% | -139.8% | ||
| Q1 25 | -1479.6% | -104.9% | ||
| Q4 24 | — | -66.7% | ||
| Q3 24 | -1439.4% | -239.9% | ||
| Q2 24 | -1276.2% | -19.4% | ||
| Q1 24 | -551.5% | -29.4% |
| Q4 25 | -19.9% | -71.6% | ||
| Q3 25 | -637.8% | -61.4% | ||
| Q2 25 | -203.3% | -83.5% | ||
| Q1 25 | -1077.2% | -63.9% | ||
| Q4 24 | — | -45.8% | ||
| Q3 24 | -785.4% | -140.6% | ||
| Q2 24 | -504.3% | -14.1% | ||
| Q1 24 | -408.0% | -18.8% |
| Q4 25 | $-0.03 | $-0.24 | ||
| Q3 25 | $-0.19 | $-0.18 | ||
| Q2 25 | $-0.12 | $-0.27 | ||
| Q1 25 | $-0.15 | $-0.21 | ||
| Q4 24 | — | $-0.21 | ||
| Q3 24 | $-0.17 | $-0.68 | ||
| Q2 24 | $-0.13 | $-0.07 | ||
| Q1 24 | $-0.14 | $-0.09 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $128.5M | $216.9M |
| Total DebtLower is stronger | — | $291.8M |
| Stockholders' EquityBook value | $966.9M | $212.4M |
| Total Assets | $1.4B | $770.6M |
| Debt / EquityLower = less leverage | — | 1.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $216.9M | ||
| Q3 25 | $83.2M | $243.6M | ||
| Q2 25 | $92.4M | $269.9M | ||
| Q1 25 | $159.3M | $285.1M | ||
| Q4 24 | $156.3M | $322.4M | ||
| Q3 24 | $126.6M | $578.2M | ||
| Q2 24 | $148.3M | $573.2M | ||
| Q1 24 | $123.6M | $561.7M |
| Q4 25 | — | $291.8M | ||
| Q3 25 | — | $292.8M | ||
| Q2 25 | — | $293.9M | ||
| Q1 25 | — | $294.9M | ||
| Q4 24 | — | $295.9M | ||
| Q3 24 | — | $521.7M | ||
| Q2 24 | — | $522.5M | ||
| Q1 24 | — | $523.3M |
| Q4 25 | $966.9M | $212.4M | ||
| Q3 25 | $964.0M | $245.4M | ||
| Q2 25 | $1.0B | $265.9M | ||
| Q1 25 | $1.0B | $300.6M | ||
| Q4 24 | $1.1B | $325.3M | ||
| Q3 24 | $1.1B | $344.9M | ||
| Q2 24 | $1.1B | $434.7M | ||
| Q1 24 | $1.1B | $410.7M |
| Q4 25 | $1.4B | $770.6M | ||
| Q3 25 | $1.4B | $849.2M | ||
| Q2 25 | $1.4B | $897.0M | ||
| Q1 25 | $1.3B | $959.8M | ||
| Q4 24 | $1.4B | $1.0B | ||
| Q3 24 | $1.4B | $1.3B | ||
| Q2 24 | $1.4B | $1.4B | ||
| Q1 24 | $1.5B | $1.4B |
| Q4 25 | — | 1.37× | ||
| Q3 25 | — | 1.19× | ||
| Q2 25 | — | 1.11× | ||
| Q1 25 | — | 0.98× | ||
| Q4 24 | — | 0.91× | ||
| Q3 24 | — | 1.51× | ||
| Q2 24 | — | 1.20× | ||
| Q1 24 | — | 1.27× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-34.7M | $-22.8M |
| Free Cash FlowOCF − Capex | $-44.6M | $-24.9M |
| FCF MarginFCF / Revenue | -99.4% | -49.9% |
| Capex IntensityCapex / Revenue | 21.9% | 4.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | $-70.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $-22.8M | ||
| Q3 25 | $-52.6M | $-15.2M | ||
| Q2 25 | $-32.4M | $-10.3M | ||
| Q1 25 | $-11.6M | $-9.4M | ||
| Q4 24 | $-108.6M | $-14.6M | ||
| Q3 24 | $-28.9M | $13.1M | ||
| Q2 24 | $-30.0M | $17.4M | ||
| Q1 24 | $-41.7M | $-8.5M |
| Q4 25 | $-44.6M | $-24.9M | ||
| Q3 25 | $-61.5M | $-18.1M | ||
| Q2 25 | $-45.8M | $-13.1M | ||
| Q1 25 | $-22.2M | $-14.6M | ||
| Q4 24 | $-187.0M | $-20.5M | ||
| Q3 24 | $-47.4M | $4.5M | ||
| Q2 24 | $-50.1M | $7.9M | ||
| Q1 24 | $-65.8M | $-14.1M |
| Q4 25 | -99.4% | -49.9% | ||
| Q3 25 | -687.0% | -43.4% | ||
| Q2 25 | -267.9% | -27.7% | ||
| Q1 25 | -524.0% | -31.2% | ||
| Q4 24 | -3702.8% | -36.2% | ||
| Q3 24 | -728.4% | 6.6% | ||
| Q2 24 | -683.8% | 11.4% | ||
| Q1 24 | -661.5% | -22.0% |
| Q4 25 | 21.9% | 4.2% | ||
| Q3 25 | 99.7% | 7.0% | ||
| Q2 25 | 78.2% | 6.1% | ||
| Q1 25 | 251.1% | 11.2% | ||
| Q4 24 | 1552.7% | 10.3% | ||
| Q3 24 | 284.6% | 12.4% | ||
| Q2 24 | 274.6% | 13.8% | ||
| Q1 24 | 242.5% | 8.8% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ABCL
Segment breakdown not available.
MRVI
| Cygnus Segment | $27.2M | 54% |
| Other | $18.4M | 37% |
| Shipping And Handling | $4.3M | 9% |
