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Side-by-side financial comparison of MARAVAI LIFESCIENCES HOLDINGS, INC. (MRVI) and RHYTHM PHARMACEUTICALS, INC. (RYTM). Click either name above to swap in a different company.
RHYTHM PHARMACEUTICALS, INC. is the larger business by last-quarter revenue ($57.3M vs $49.9M, roughly 1.1× MARAVAI LIFESCIENCES HOLDINGS, INC.). MARAVAI LIFESCIENCES HOLDINGS, INC. runs the higher net margin — -71.6% vs -83.0%, a 11.4% gap on every dollar of revenue. On growth, RHYTHM PHARMACEUTICALS, INC. posted the faster year-over-year revenue change (36.9% vs -11.8%). Over the past eight quarters, RHYTHM PHARMACEUTICALS, INC.'s revenue compounded faster (48.5% 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.
Rhythm Pharmaceuticals is a biopharmaceutical firm focused on developing and commercializing targeted therapies for rare genetic disorders causing severe unmanageable obesity, including POMC deficiency, LEPR deficiency, and Bardet-Biedl syndrome. It serves patients in North America and Europe who lack effective standard treatments for their chronic life-altering conditions.
MRVI vs RYTM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $49.9M | $57.3M |
| Net Profit | $-35.7M | $-47.5M |
| Gross Margin | 25.8% | 91.6% |
| Operating Margin | -117.9% | -82.2% |
| Net Margin | -71.6% | -83.0% |
| Revenue YoY | -11.8% | 36.9% |
| Net Profit YoY | -37.7% | -9.6% |
| EPS (diluted) | $-0.24 | $-0.73 |
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 | $49.9M | $57.3M | ||
| Q3 25 | $41.6M | $51.3M | ||
| Q2 25 | $47.4M | $48.5M | ||
| Q1 25 | $46.9M | $32.7M | ||
| Q4 24 | $56.6M | $41.8M | ||
| Q3 24 | $69.0M | $33.3M | ||
| Q2 24 | $69.4M | $29.1M | ||
| Q1 24 | $64.2M | $26.0M |
| Q4 25 | $-35.7M | $-47.5M | ||
| Q3 25 | $-25.6M | $-52.9M | ||
| Q2 25 | $-39.6M | $-46.6M | ||
| Q1 25 | $-29.9M | $-49.5M | ||
| Q4 24 | $-25.9M | $-43.3M | ||
| Q3 24 | $-97.1M | $-43.6M | ||
| Q2 24 | $-9.8M | $-32.3M | ||
| Q1 24 | $-12.1M | $-141.4M |
| Q4 25 | 25.8% | 91.6% | ||
| Q3 25 | 13.6% | 89.3% | ||
| Q2 25 | 16.4% | 88.6% | ||
| Q1 25 | 16.5% | 88.8% | ||
| Q4 24 | 34.3% | 90.9% | ||
| Q3 24 | 46.7% | 88.5% | ||
| Q2 24 | 44.4% | 89.9% | ||
| Q1 24 | 40.3% | 89.2% |
| Q4 25 | -117.9% | -82.2% | ||
| Q3 25 | -98.6% | -102.6% | ||
| Q2 25 | -139.8% | -93.4% | ||
| Q1 25 | -104.9% | -143.7% | ||
| Q4 24 | -66.7% | -98.6% | ||
| Q3 24 | -239.9% | -132.0% | ||
| Q2 24 | -19.4% | -139.2% | ||
| Q1 24 | -29.4% | -538.7% |
| Q4 25 | -71.6% | -83.0% | ||
| Q3 25 | -61.4% | -103.1% | ||
| Q2 25 | -83.5% | -96.1% | ||
| Q1 25 | -63.9% | -151.4% | ||
| Q4 24 | -45.8% | -103.6% | ||
| Q3 24 | -140.6% | -131.2% | ||
| Q2 24 | -14.1% | -110.9% | ||
| Q1 24 | -18.8% | -544.4% |
| Q4 25 | $-0.24 | $-0.73 | ||
| Q3 25 | $-0.18 | $-0.82 | ||
| Q2 25 | $-0.27 | $-0.75 | ||
| Q1 25 | $-0.21 | $-0.81 | ||
| Q4 24 | $-0.21 | $-0.71 | ||
| Q3 24 | $-0.68 | $-0.73 | ||
| Q2 24 | $-0.07 | $-0.55 | ||
| Q1 24 | $-0.09 | $-2.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $216.9M | $388.9M |
| Total DebtLower is stronger | $291.8M | — |
| Stockholders' EquityBook value | $212.4M | $139.1M |
| Total Assets | $770.6M | $480.2M |
| Debt / EquityLower = less leverage | 1.37× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $216.9M | $388.9M | ||
| Q3 25 | $243.6M | $416.1M | ||
| Q2 25 | $269.9M | $291.0M | ||
| Q1 25 | $285.1M | $314.5M | ||
| Q4 24 | $322.4M | $320.6M | ||
| Q3 24 | $578.2M | $298.4M | ||
| Q2 24 | $573.2M | $319.1M | ||
| Q1 24 | $561.7M | $201.2M |
| 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 | $212.4M | $139.1M | ||
| Q3 25 | $245.4M | $148.8M | ||
| Q2 25 | $265.9M | $-11.9M | ||
| Q1 25 | $300.6M | $18.9M | ||
| Q4 24 | $325.3M | $21.7M | ||
| Q3 24 | $344.9M | $11.2M | ||
| Q2 24 | $434.7M | $39.3M | ||
| Q1 24 | $410.7M | $61.6M |
| Q4 25 | $770.6M | $480.2M | ||
| Q3 25 | $849.2M | $506.9M | ||
| Q2 25 | $897.0M | $372.7M | ||
| Q1 25 | $959.8M | $386.7M | ||
| Q4 24 | $1.0B | $392.3M | ||
| Q3 24 | $1.3B | $363.6M | ||
| Q2 24 | $1.4B | $381.8M | ||
| Q1 24 | $1.4B | $258.7M |
| 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 | $-22.8M | $-25.4M |
| Free Cash FlowOCF − Capex | $-24.9M | — |
| FCF MarginFCF / Revenue | -49.9% | — |
| Capex IntensityCapex / Revenue | 4.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-70.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-22.8M | $-25.4M | ||
| Q3 25 | $-15.2M | $-26.6M | ||
| Q2 25 | $-10.3M | $-23.3M | ||
| Q1 25 | $-9.4M | $-40.4M | ||
| Q4 24 | $-14.6M | $-18.8M | ||
| Q3 24 | $13.1M | $-25.2M | ||
| Q2 24 | $17.4M | $-29.1M | ||
| Q1 24 | $-8.5M | $-40.7M |
| Q4 25 | $-24.9M | — | ||
| Q3 25 | $-18.1M | — | ||
| Q2 25 | $-13.1M | — | ||
| Q1 25 | $-14.6M | — | ||
| Q4 24 | $-20.5M | — | ||
| Q3 24 | $4.5M | — | ||
| Q2 24 | $7.9M | — | ||
| Q1 24 | $-14.1M | — |
| Q4 25 | -49.9% | — | ||
| Q3 25 | -43.4% | — | ||
| Q2 25 | -27.7% | — | ||
| Q1 25 | -31.2% | — | ||
| Q4 24 | -36.2% | — | ||
| Q3 24 | 6.6% | — | ||
| Q2 24 | 11.4% | — | ||
| Q1 24 | -22.0% | — |
| Q4 25 | 4.2% | — | ||
| Q3 25 | 7.0% | — | ||
| Q2 25 | 6.1% | — | ||
| Q1 25 | 11.2% | — | ||
| Q4 24 | 10.3% | — | ||
| Q3 24 | 12.4% | — | ||
| Q2 24 | 13.8% | — | ||
| Q1 24 | 8.8% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MRVI
| Cygnus Segment | $27.2M | 54% |
| Other | $18.4M | 37% |
| Shipping And Handling | $4.3M | 9% |
RYTM
Segment breakdown not available.
