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Side-by-side financial comparison of MARAVAI LIFESCIENCES HOLDINGS, INC. (MRVI) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
Target Hospitality Corp. is the larger business by last-quarter revenue ($73.5M vs $49.9M, roughly 1.5× MARAVAI LIFESCIENCES HOLDINGS, INC.). Target Hospitality Corp. runs the higher net margin — -20.3% vs -71.6%, a 51.2% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs -11.8%). Over the past eight quarters, Target Hospitality Corp.'s revenue compounded faster (0.7% 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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
MRVI vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $49.9M | $73.5M |
| Net Profit | $-35.7M | $-14.9M |
| Gross Margin | 25.8% | 9.6% |
| Operating Margin | -117.9% | -22.9% |
| Net Margin | -71.6% | -20.3% |
| Revenue YoY | -11.8% | 22.0% |
| Net Profit YoY | -37.7% | -219.1% |
| EPS (diluted) | $-0.24 | $-0.14 |
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 | $73.5M | ||
| Q3 25 | $41.6M | $91.6M | ||
| Q2 25 | $47.4M | $54.9M | ||
| Q1 25 | $46.9M | $54.9M | ||
| Q4 24 | $56.6M | $60.2M | ||
| Q3 24 | $69.0M | $65.8M | ||
| Q2 24 | $69.4M | $67.5M | ||
| Q1 24 | $64.2M | $72.4M |
| Q4 25 | $-35.7M | $-14.9M | ||
| Q3 25 | $-25.6M | $-795.0K | ||
| Q2 25 | $-39.6M | $-14.9M | ||
| Q1 25 | $-29.9M | $-6.5M | ||
| Q4 24 | $-25.9M | $12.5M | ||
| Q3 24 | $-97.1M | $20.0M | ||
| Q2 24 | $-9.8M | $18.4M | ||
| Q1 24 | $-12.1M | $20.4M |
| Q4 25 | 25.8% | 9.6% | ||
| Q3 25 | 13.6% | 19.6% | ||
| Q2 25 | 16.4% | -0.6% | ||
| Q1 25 | 16.5% | 32.7% | ||
| Q4 24 | 34.3% | 61.5% | ||
| Q3 24 | 46.7% | 68.7% | ||
| Q2 24 | 44.4% | 69.4% | ||
| Q1 24 | 40.3% | 67.8% |
| Q4 25 | -117.9% | -22.9% | ||
| Q3 25 | -98.6% | 0.1% | ||
| Q2 25 | -139.8% | -30.8% | ||
| Q1 25 | -104.9% | -2.0% | ||
| Q4 24 | -66.7% | 34.5% | ||
| Q3 24 | -239.9% | 42.5% | ||
| Q2 24 | -19.4% | 43.8% | ||
| Q1 24 | -29.4% | 42.0% |
| Q4 25 | -71.6% | -20.3% | ||
| Q3 25 | -61.4% | -0.9% | ||
| Q2 25 | -83.5% | -27.2% | ||
| Q1 25 | -63.9% | -11.8% | ||
| Q4 24 | -45.8% | 20.8% | ||
| Q3 24 | -140.6% | 30.4% | ||
| Q2 24 | -14.1% | 27.2% | ||
| Q1 24 | -18.8% | 28.2% |
| Q4 25 | $-0.24 | $-0.14 | ||
| Q3 25 | $-0.18 | $-0.01 | ||
| Q2 25 | $-0.27 | $-0.15 | ||
| Q1 25 | $-0.21 | $-0.07 | ||
| Q4 24 | $-0.21 | $0.12 | ||
| Q3 24 | $-0.68 | $0.20 | ||
| Q2 24 | $-0.07 | $0.18 | ||
| Q1 24 | $-0.09 | $0.20 |
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 | $8.3M |
| Total DebtLower is stronger | $291.8M | $1.7M |
| Stockholders' EquityBook value | $212.4M | $389.3M |
| Total Assets | $770.6M | $530.2M |
| Debt / EquityLower = less leverage | 1.37× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $216.9M | $8.3M | ||
| Q3 25 | $243.6M | $30.4M | ||
| Q2 25 | $269.9M | $19.2M | ||
| Q1 25 | $285.1M | $34.5M | ||
| Q4 24 | $322.4M | $190.7M | ||
| Q3 24 | $578.2M | $177.7M | ||
| Q2 24 | $573.2M | $154.3M | ||
| Q1 24 | $561.7M | $124.3M |
| Q4 25 | $291.8M | $1.7M | ||
| Q3 25 | $292.8M | $2.0M | ||
| Q2 25 | $293.9M | $26.3M | ||
| Q1 25 | $294.9M | $42.9M | ||
| Q4 24 | $295.9M | $1.5M | ||
| Q3 24 | $521.7M | $994.0K | ||
| Q2 24 | $522.5M | $1.1M | ||
| Q1 24 | $523.3M | $179.9M |
| Q4 25 | $212.4M | $389.3M | ||
| Q3 25 | $245.4M | $402.4M | ||
| Q2 25 | $265.9M | $401.3M | ||
| Q1 25 | $300.6M | $415.3M | ||
| Q4 24 | $325.3M | $421.1M | ||
| Q3 24 | $344.9M | $417.6M | ||
| Q2 24 | $434.7M | $397.2M | ||
| Q1 24 | $410.7M | $375.5M |
| Q4 25 | $770.6M | $530.2M | ||
| Q3 25 | $849.2M | $541.2M | ||
| Q2 25 | $897.0M | $533.7M | ||
| Q1 25 | $959.8M | $562.5M | ||
| Q4 24 | $1.0B | $725.8M | ||
| Q3 24 | $1.3B | $709.8M | ||
| Q2 24 | $1.4B | $697.0M | ||
| Q1 24 | $1.4B | $687.2M |
| Q4 25 | 1.37× | 0.00× | ||
| Q3 25 | 1.19× | 0.01× | ||
| Q2 25 | 1.11× | 0.07× | ||
| Q1 25 | 0.98× | 0.10× | ||
| Q4 24 | 0.91× | 0.00× | ||
| Q3 24 | 1.51× | 0.00× | ||
| Q2 24 | 1.20× | 0.00× | ||
| Q1 24 | 1.27× | 0.48× |
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 | $5.7M |
| 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 | $5.7M | ||
| Q3 25 | $-15.2M | $53.4M | ||
| Q2 25 | $-10.3M | $11.1M | ||
| Q1 25 | $-9.4M | $3.9M | ||
| Q4 24 | $-14.6M | $30.6M | ||
| Q3 24 | $13.1M | $31.4M | ||
| Q2 24 | $17.4M | $39.1M | ||
| Q1 24 | $-8.5M | $50.6M |
| Q4 25 | $-24.9M | — | ||
| Q3 25 | $-18.1M | — | ||
| Q2 25 | $-13.1M | — | ||
| Q1 25 | $-14.6M | $-11.6M | ||
| 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% | -21.1% | ||
| 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% | 28.2% | ||
| Q4 24 | 10.3% | — | ||
| Q3 24 | 12.4% | — | ||
| Q2 24 | 13.8% | — | ||
| Q1 24 | 8.8% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 2.13× | ||
| Q1 24 | — | 2.48× |
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% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
