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Side-by-side financial comparison of MARAVAI LIFESCIENCES HOLDINGS, INC. (MRVI) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Velocity Financial, Inc. is the larger business by last-quarter revenue ($51.6M vs $49.9M, roughly 1.0× MARAVAI LIFESCIENCES HOLDINGS, INC.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs -71.6%, a 138.9% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs -11.8%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $-24.9M). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% 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.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
MRVI vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $49.9M | $51.6M |
| Net Profit | $-35.7M | $34.8M |
| Gross Margin | 25.8% | — |
| Operating Margin | -117.9% | 97.0% |
| Net Margin | -71.6% | 67.3% |
| Revenue YoY | -11.8% | 32.8% |
| Net Profit YoY | -37.7% | 67.0% |
| EPS (diluted) | $-0.24 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $41.6M | $49.1M | ||
| Q2 25 | $47.4M | $47.6M | ||
| Q1 25 | $46.9M | $37.5M | ||
| Q4 24 | $56.6M | $38.9M | ||
| Q3 24 | $69.0M | $35.1M | ||
| Q2 24 | $69.4M | $32.4M | ||
| Q1 24 | $64.2M | $29.5M |
| Q4 25 | $-35.7M | $34.8M | ||
| Q3 25 | $-25.6M | $25.4M | ||
| Q2 25 | $-39.6M | $26.0M | ||
| Q1 25 | $-29.9M | $18.9M | ||
| Q4 24 | $-25.9M | $20.8M | ||
| Q3 24 | $-97.1M | $15.8M | ||
| Q2 24 | $-9.8M | $14.8M | ||
| Q1 24 | $-12.1M | $17.3M |
| 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% | 97.0% | ||
| Q3 25 | -98.6% | 72.1% | ||
| Q2 25 | -139.8% | 71.3% | ||
| Q1 25 | -104.9% | 71.7% | ||
| Q4 24 | -66.7% | 82.5% | ||
| Q3 24 | -239.9% | 60.6% | ||
| Q2 24 | -19.4% | 61.3% | ||
| Q1 24 | -29.4% | 78.8% |
| Q4 25 | -71.6% | 67.3% | ||
| Q3 25 | -61.4% | 51.7% | ||
| Q2 25 | -83.5% | 54.6% | ||
| Q1 25 | -63.9% | 50.4% | ||
| Q4 24 | -45.8% | 53.5% | ||
| Q3 24 | -140.6% | 45.1% | ||
| Q2 24 | -14.1% | 45.6% | ||
| Q1 24 | -18.8% | 58.5% |
| Q4 25 | $-0.24 | $0.90 | ||
| Q3 25 | $-0.18 | $0.65 | ||
| Q2 25 | $-0.27 | $0.69 | ||
| Q1 25 | $-0.21 | $0.51 | ||
| Q4 24 | $-0.21 | $0.56 | ||
| Q3 24 | $-0.68 | $0.44 | ||
| Q2 24 | $-0.07 | $0.42 | ||
| Q1 24 | $-0.09 | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | $291.8M | — |
| Stockholders' EquityBook value | $212.4M | $672.5M |
| Total Assets | $770.6M | $7.4B |
| Debt / EquityLower = less leverage | 1.37× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $216.9M | $92.1M | ||
| Q3 25 | $243.6M | $99.0M | ||
| Q2 25 | $269.9M | $79.6M | ||
| Q1 25 | $285.1M | $51.7M | ||
| Q4 24 | $322.4M | $49.9M | ||
| Q3 24 | $578.2M | $44.1M | ||
| Q2 24 | $573.2M | $47.4M | ||
| Q1 24 | $561.7M | $34.8M |
| 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 | $672.5M | ||
| Q3 25 | $245.4M | $634.3M | ||
| Q2 25 | $265.9M | $597.9M | ||
| Q1 25 | $300.6M | $563.2M | ||
| Q4 24 | $325.3M | $516.9M | ||
| Q3 24 | $344.9M | $484.6M | ||
| Q2 24 | $434.7M | $471.3M | ||
| Q1 24 | $410.7M | $452.9M |
| Q4 25 | $770.6M | $7.4B | ||
| Q3 25 | $849.2M | $7.0B | ||
| Q2 25 | $897.0M | $6.5B | ||
| Q1 25 | $959.8M | $6.0B | ||
| Q4 24 | $1.0B | $5.5B | ||
| Q3 24 | $1.3B | $5.2B | ||
| Q2 24 | $1.4B | $4.9B | ||
| Q1 24 | $1.4B | $4.6B |
| 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 | $18.2M |
| Free Cash FlowOCF − Capex | $-24.9M | $17.9M |
| FCF MarginFCF / Revenue | -49.9% | 34.6% |
| Capex IntensityCapex / Revenue | 4.2% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-70.7M | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-22.8M | $18.2M | ||
| Q3 25 | $-15.2M | $11.5M | ||
| Q2 25 | $-10.3M | $7.7M | ||
| Q1 25 | $-9.4M | $3.5M | ||
| Q4 24 | $-14.6M | $37.8M | ||
| Q3 24 | $13.1M | $-17.6M | ||
| Q2 24 | $17.4M | $11.5M | ||
| Q1 24 | $-8.5M | $10.6M |
| Q4 25 | $-24.9M | $17.9M | ||
| Q3 25 | $-18.1M | $11.4M | ||
| Q2 25 | $-13.1M | $7.6M | ||
| Q1 25 | $-14.6M | $3.5M | ||
| Q4 24 | $-20.5M | $37.5M | ||
| Q3 24 | $4.5M | $-17.6M | ||
| Q2 24 | $7.9M | $11.4M | ||
| Q1 24 | $-14.1M | $10.5M |
| Q4 25 | -49.9% | 34.6% | ||
| Q3 25 | -43.4% | 23.2% | ||
| Q2 25 | -27.7% | 15.9% | ||
| Q1 25 | -31.2% | 9.2% | ||
| Q4 24 | -36.2% | 96.4% | ||
| Q3 24 | 6.6% | -50.3% | ||
| Q2 24 | 11.4% | 35.1% | ||
| Q1 24 | -22.0% | 35.8% |
| Q4 25 | 4.2% | 0.5% | ||
| Q3 25 | 7.0% | 0.1% | ||
| Q2 25 | 6.1% | 0.2% | ||
| Q1 25 | 11.2% | 0.2% | ||
| Q4 24 | 10.3% | 0.7% | ||
| Q3 24 | 12.4% | 0.2% | ||
| Q2 24 | 13.8% | 0.3% | ||
| Q1 24 | 8.8% | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | -1.11× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.61× |
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% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
