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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) 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 $43.2M, roughly 1.2× ADAMAS TRUST, INC.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -71.6%, a 195.5% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -11.8%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $-24.9M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -11.9%).
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.
ADAM vs MRVI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $49.9M |
| Net Profit | $53.5M | $-35.7M |
| Gross Margin | — | 25.8% |
| Operating Margin | — | -117.9% |
| Net Margin | 124.0% | -71.6% |
| Revenue YoY | 61.6% | -11.8% |
| Net Profit YoY | 270.5% | -37.7% |
| EPS (diluted) | $0.45 | $-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 | $43.2M | $49.9M | ||
| Q3 25 | $36.6M | $41.6M | ||
| Q2 25 | $36.4M | $47.4M | ||
| Q1 25 | $33.1M | $46.9M | ||
| Q4 24 | $26.7M | $56.6M | ||
| Q3 24 | $20.2M | $69.0M | ||
| Q2 24 | $19.0M | $69.4M | ||
| Q1 24 | $17.9M | $64.2M |
| Q4 25 | $53.5M | $-35.7M | ||
| Q3 25 | $44.8M | $-25.6M | ||
| Q2 25 | $8.5M | $-39.6M | ||
| Q1 25 | $42.2M | $-29.9M | ||
| Q4 24 | $-31.4M | $-25.9M | ||
| Q3 24 | $42.8M | $-97.1M | ||
| Q2 24 | $-15.6M | $-9.8M | ||
| Q1 24 | $-57.9M | $-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 | — | -117.9% | ||
| Q3 25 | — | -98.6% | ||
| Q2 25 | 11.7% | -139.8% | ||
| Q1 25 | — | -104.9% | ||
| Q4 24 | -119.0% | -66.7% | ||
| Q3 24 | — | -239.9% | ||
| Q2 24 | -124.7% | -19.4% | ||
| Q1 24 | -448.8% | -29.4% |
| Q4 25 | 124.0% | -71.6% | ||
| Q3 25 | 122.5% | -61.4% | ||
| Q2 25 | 23.4% | -83.5% | ||
| Q1 25 | 127.4% | -63.9% | ||
| Q4 24 | -117.5% | -45.8% | ||
| Q3 24 | 211.7% | -140.6% | ||
| Q2 24 | -81.9% | -14.1% | ||
| Q1 24 | -324.1% | -18.8% |
| Q4 25 | $0.45 | $-0.24 | ||
| Q3 25 | $0.36 | $-0.18 | ||
| Q2 25 | $-0.04 | $-0.27 | ||
| Q1 25 | $0.33 | $-0.21 | ||
| Q4 24 | $-0.46 | $-0.21 | ||
| Q3 24 | $0.36 | $-0.68 | ||
| Q2 24 | $-0.29 | $-0.07 | ||
| Q1 24 | $-0.75 | $-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 | $210.3M | $216.9M |
| Total DebtLower is stronger | $735.8M | $291.8M |
| Stockholders' EquityBook value | $1.4B | $212.4M |
| Total Assets | $12.6B | $770.6M |
| Debt / EquityLower = less leverage | 0.52× | 1.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $216.9M | ||
| Q3 25 | $185.3M | $243.6M | ||
| Q2 25 | $160.4M | $269.9M | ||
| Q1 25 | $177.1M | $285.1M | ||
| Q4 24 | $167.4M | $322.4M | ||
| Q3 24 | $195.1M | $578.2M | ||
| Q2 24 | $235.5M | $573.2M | ||
| Q1 24 | $226.9M | $561.7M |
| Q4 25 | $735.8M | $291.8M | ||
| Q3 25 | $766.6M | $292.8M | ||
| Q2 25 | $653.0M | $293.9M | ||
| Q1 25 | $654.4M | $294.9M | ||
| Q4 24 | $573.2M | $295.9M | ||
| Q3 24 | $699.4M | $521.7M | ||
| Q2 24 | $800.7M | $522.5M | ||
| Q1 24 | $1.0B | $523.3M |
| Q4 25 | $1.4B | $212.4M | ||
| Q3 25 | $1.4B | $245.4M | ||
| Q2 25 | $1.4B | $265.9M | ||
| Q1 25 | $1.4B | $300.6M | ||
| Q4 24 | $1.4B | $325.3M | ||
| Q3 24 | $1.4B | $344.9M | ||
| Q2 24 | $1.4B | $434.7M | ||
| Q1 24 | $1.5B | $410.7M |
| Q4 25 | $12.6B | $770.6M | ||
| Q3 25 | $12.4B | $849.2M | ||
| Q2 25 | $10.6B | $897.0M | ||
| Q1 25 | $10.0B | $959.8M | ||
| Q4 24 | $9.2B | $1.0B | ||
| Q3 24 | $8.9B | $1.3B | ||
| Q2 24 | $8.2B | $1.4B | ||
| Q1 24 | $7.4B | $1.4B |
| Q4 25 | 0.52× | 1.37× | ||
| Q3 25 | 0.55× | 1.19× | ||
| Q2 25 | 0.47× | 1.11× | ||
| Q1 25 | 0.47× | 0.98× | ||
| Q4 24 | 0.41× | 0.91× | ||
| Q3 24 | 0.48× | 1.51× | ||
| Q2 24 | 0.56× | 1.20× | ||
| Q1 24 | 0.67× | 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 | $134.0M | $-22.8M |
| Free Cash FlowOCF − Capex | $125.9M | $-24.9M |
| FCF MarginFCF / Revenue | 291.6% | -49.9% |
| Capex IntensityCapex / Revenue | 18.9% | 4.2% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-70.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $-22.8M | ||
| Q3 25 | $6.9M | $-15.2M | ||
| Q2 25 | $39.2M | $-10.3M | ||
| Q1 25 | $25.8M | $-9.4M | ||
| Q4 24 | $14.1M | $-14.6M | ||
| Q3 24 | $-922.0K | $13.1M | ||
| Q2 24 | $-993.0K | $17.4M | ||
| Q1 24 | $-13.1M | $-8.5M |
| Q4 25 | $125.9M | $-24.9M | ||
| Q3 25 | — | $-18.1M | ||
| Q2 25 | — | $-13.1M | ||
| Q1 25 | — | $-14.6M | ||
| Q4 24 | $-10.6M | $-20.5M | ||
| Q3 24 | $-8.6M | $4.5M | ||
| Q2 24 | $-8.6M | $7.9M | ||
| Q1 24 | $-19.1M | $-14.1M |
| Q4 25 | 291.6% | -49.9% | ||
| Q3 25 | — | -43.4% | ||
| Q2 25 | — | -27.7% | ||
| Q1 25 | — | -31.2% | ||
| Q4 24 | -39.6% | -36.2% | ||
| Q3 24 | -42.3% | 6.6% | ||
| Q2 24 | -44.9% | 11.4% | ||
| Q1 24 | -107.0% | -22.0% |
| Q4 25 | 18.9% | 4.2% | ||
| Q3 25 | — | 7.0% | ||
| Q2 25 | — | 6.1% | ||
| Q1 25 | — | 11.2% | ||
| Q4 24 | 92.3% | 10.3% | ||
| Q3 24 | 37.7% | 12.4% | ||
| Q2 24 | 39.7% | 13.8% | ||
| Q1 24 | 33.5% | 8.8% |
| Q4 25 | 2.50× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 4.59× | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADAM
| Other | $19.6M | 45% |
| Constructive Loans LLC | $14.4M | 33% |
| Multifamily | $9.1M | 21% |
MRVI
| Cygnus Segment | $27.2M | 54% |
| Other | $18.4M | 37% |
| Shipping And Handling | $4.3M | 9% |
