Maravai LifeSciences (MRVI) 10-Q 12 May 21 2021 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2021	May 07, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-39725
Entity Registrant Name	Maravai LifeSciences Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-2786970
Entity Address, Address Line One	10770 Wateridge Circle
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92121
City Area Code	858
Local Phone Number	546-0004
Title of 12(b) Security	Class A common stock, $0.01 par value
Trading Symbol	MRVI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001823239
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		114,351,371
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		143,308,170

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash	$ 247,675	$ 236,184
Accounts receivable, net	121,821	51,018
Inventory	47,129	33,301
Prepaid expenses and other current assets	8,918	11,095
Total current assets	425,543	331,598
Property and equipment, net	105,133	101,305
Goodwill	224,275	224,275
Intangible assets, net	172,616	177,656
Deferred tax assets	419,901	431,699
Other assets	4,300	4,158
Total assets	1,351,768	1,270,691
Current liabilities:
Accounts payable	9,806	8,171
Accrued expenses and other current liabilities	28,973	38,546
Deferred revenue	119,175	78,061
Current portion of payable to related parties pursuant to Tax Receivable Agreement	1,298	0
Current portion of long-term debt	6,000	6,000
Total current liabilities	165,252	130,778
Long-term debt, less current portion	527,593	528,614
Deferred tax liabilities	8,571	8,609
Lease facility financing obligation, less current portion	55,924	56,167
Payable to related parties pursuant to a Tax Receivable Agreement	382,362	389,546
Other long-term liabilities	2,310	2,231
Total liabilities	1,142,012	1,115,945
Lease commitments (Note 5)
Stockholders' equity
Additional paid-in capital	85,976	85,125
Accumulated other comprehensive loss	(42)	(44)
Retained earnings	24,101	854
Total stockholders' equity attributable to Maravai LifeSciences Holdings, Inc.	112,611	88,511
Non-controlling interests	97,145	66,235
Total stockholders' equity	209,756	154,746
Total liabilities and stockholders' equity	1,351,768	1,270,691
Class A Common Stock
Stockholders' equity
Common stock	$ 966	$ 966
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Class B Common Stock
Stockholders' equity
Common stock	$ 1,610	$ 1,610
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Class A Common Stock
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	96,646,515	96,646,515
Common stock, shares outstanding (in shares)	96,646,515	96,646,515
Class B Common Stock
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	160,974,129	160,974,129
Common stock, shares outstanding (in shares)	160,974,129	160,974,129

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenue	$ 148,211	$ 50,981
Operating expenses:
Cost of revenue	30,368	15,297
Research and development	2,164	3,744
Selling, general and administrative	23,237	16,126
Gain on sale and leaseback transaction	0	(19,002)
Total operating expenses	55,769	16,165
Income from operations	92,442	34,816
Other income (expense):
Interest expense	(8,770)	(7,382)
Change in payable to related parties pursuant to a Tax Receivable Agreement	5,886	0
Other income	3	80
Income before income taxes	89,561	27,514
Income tax expense	13,709	3,635
Net income	75,852	23,879
Net income attributable to non-controlling interests	52,605	490
Net income attributable to Maravai LifeSciences Holdings, Inc.	$ 23,247	$ 23,389
Net income per Class A common share/unit attributable to Maravai LifeSciences Holdings, Inc.:
Basic (in usd per share)	$ 0.24	$ 0.09
Diluted (in usd per share)	$ 0.24	$ 0.09
Weighted average number of Class A common shares/units outstanding:
Basic (in shares)	96,646,515	253,916,941
Diluted (in shares)	96,672,968	253,916,941

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 75,852	$ 23,879
Other comprehensive income:
Foreign currency translation adjustments	8	(71)
Total other comprehensive income	75,860	23,808
Comprehensive income attributable to non-controlling interests	52,605	490
Total comprehensive income attributable to Maravai LifeSciences Holdings, Inc.	$ 23,255	$ 23,318

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders'/Member's Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common StockClass A Common Stock	Common StockClass B Common Stock	Additional Paid-in Capital / Contributed Capital	Accumulated Other Comprehensive Loss	Retained Earnings (Accumulated Deficit)	Non-Controlling Interest	Member Units
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 23,879					$ 23,389	$ 490
Foreign currency translation adjustments	(71)				$ (71)
Beginning balance at Dec. 31, 2019	144,627			$ 183,910	(133)	(42,381)	3,231	$ 0
Beginning balance (in shares) at Dec. 31, 2019								253,917
Increase (Decrease) in Members' Equity [Roll Forward]
Unit-based compensation	508			420			88
Net income	23,879					23,389	490
Foreign currency translation adjustment	(71)				(71)
Ending balance (in shares) at Mar. 31, 2020								253,917
Ending balance at Mar. 31, 2020	168,943			184,330	(204)	(18,992)	3,809	$ 0
Beginning balance (in shares) at Dec. 31, 2020		96,647	160,974
Beginning balance at Dec. 31, 2020	154,746	$ 966	$ 1,610	85,125	(44)	854	66,235
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	2,278			854			1,424
Distribution for tax liabilities to non-controlling interest holder	(23,128)			(3)			(23,125)
Net income	75,852					23,247	52,605
Foreign currency translation adjustments	8				2		6
Ending balance (in shares) at Mar. 31, 2021		96,647	160,974
Ending balance at Mar. 31, 2021	209,756	$ 966	$ 1,610	$ 85,976	(42)	24,101	97,145
Increase (Decrease) in Members' Equity [Roll Forward]
Net income	75,852					$ 23,247	52,605
Foreign currency translation adjustment	$ 8				$ 2		$ 6

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating activities
Net income	$ 75,852	$ 23,879
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	1,854	1,691
Amortization of intangible assets	5,040	5,075
Amortization of deferred financing costs	654	431
Equity-based compensation expense	2,278	508
Deferred income taxes	11,760	(1,274)
Gain on sale and leaseback transaction	0	(19,002)
Acquired and in-process research and development costs	0	2,881
Non-cash interest expense recognized on lease facility financing obligation	162	215
Revaluation of liabilities under Tax Receivable Agreement	(5,886)	0
Other	(144)	38
Changes in operating assets and liabilities:
Accounts receivable	(70,812)	(10,086)
Inventory	(13,828)	(5,365)
Prepaid expenses and other assets	98	209
Accounts payable	1,897	3,402
Accrued expenses and other current liabilities	(11,044)	9,044
Other long-term liabilities	(280)	(1,925)
Deferred revenue	41,114	(8)
Net cash provided by operating activities	38,715	9,713
Investing activities
Cash paid for asset acquisition, net of cash acquired	0	(3,024)
Purchases of property and equipment	(3,580)	(3,409)
Proceeds from sale of building	548	34,500
Net cash (used in) provided by investing activities	(3,032)	28,067
Financing activities
Distributions for tax liabilities to non-controlling interests holders	(23,128)	0
Proceeds from borrowings of long-term debt, net of discount	0	15,000
Principal repayments of long-term debt	(1,500)	(625)
Payments made on facility financing lease obligation and capital lease	(141)	(36)
Proceeds from employee stock purchase plan	570	0
Net cash (used in) provided by financing activities	(24,199)	14,339
Effects of exchange rate changes on cash	7	(72)
Net increase in cash, and restricted cash	11,491	52,047
Cash, beginning of period	236,184	24,700
Cash, end of period	247,675	76,747
Supplemental cash flow information
Cash paid for interest	7,947	6,236
Cash paid for income taxes	2,725	0
Supplemental disclosures of non-cash investing and financing activities
Property and equipment included in accounts payable and accrued expenses	$ 1,415	$ 581

Organization and Significant Ac

Organization and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Significant Accounting Policies	Organization and Significant Accounting Policies Description of Business Maravai LifeSciences Holdings, Inc. (the “Company”, and together with its consolidated subsidiaries, “Maravai”, “we”, “us”, “our”) was formed as a Delaware corporation in August 2020 for the purpose of facilitating an initial public offering (“IPO”) of its Class A common stock, facilitating certain organizational transactions and to operate the business of Maravai Topco Holdings, LLC (“Topco LLC”) and its consolidated subsidiaries. We are a leading life sciences company providing critical products to enable the development of drug therapies, diagnostics, novel vaccines and support research on human diseases. Our products address the key phases of biopharmaceutical development and include complex nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species. The Company is headquartered in San Diego, California and has three principal businesses: Nucleic Acid Production, Biologics Safety Testing, and Protein Detection. Our Nucleic Acid Production business manufactures and sells products used in the fields of gene therapy, vaccines, nucleoside chemistry, oligonucleotide therapy and molecular diagnostics, including reagents used in the chemical synthesis, modification, labelling and purification of deoxyribonucleic acid (“DNA”) and ribonucleic acid (“RNA”). Our core Nucleic Acid Production offerings include messenger ribonucleic acid (“mRNA”), long and short oligonucleotides, our proprietary CleanCap® capping technology and oligonucleotide building blocks. Our Biologics Safety Testing business sells highly specialized analytical products for use in biologic manufacturing process development, including custom product-specific development antibody and assay development services. Our Protein Detection business sells innovative labeling and detection reagents for researchers in immunohistochemistry. Organizational Transactions and Initial Public Offering In November 2020, the Company completed its initial public offering (“IPO”) and sold 69,000,000 shares of Class A common stock at a public offering price of $27.00 per share and received proceeds of $1.8 billion, net of underwriting discounts and commissions, which the Company used to purchase previously-issued and newly-issued LLC units in Topco LLC, to pay Maravai Life Sciences Holdings 2, LLC (“MLSH 2”) as consideration for certain organizational transactions that occurred before the IPO, and to purchase outstanding shares of Class A common stock from MLSH 2. Immediately prior to, and in connection with, the completion of our IPO, the Company completed a series of organizational transactions (“Organizational Transactions”), including: • The amendment and restatement of Topco LLC’s operating agreement (the “New LLC Operating Agreement”) to, among other things, (i) modify Topco LLC’s capital structure by replacing the membership interests held by Topco LLC’s existing owners with a new class of Topco LLC units (the “LLC Units”) and (ii) appoint the Company as the sole managing member of Topco LLC; • Amend and restate the Company’s certificate of incorporation to among other things, authorize the Company to issue two classes of common stock: Class A common stock and Class B common stock; • The issuance of shares of the Company’s Class B common stock to Maravai Life Sciences Holdings, LLC (“MLSH 1”), which was Topco LLC’s pre-IPO owner on a one-to-one basis with the number of LLC Units owned; and • The acquisition, by merger, of two members of Topco LLC (“the Blocker Entities”), for which we issued shares of Class A common stock and paid cash as consideration (“the Blocker Mergers”). The Company is the sole managing member of Topco LLC, which operates and controls TriLink Biotechnologies, LLC, Glen Research, LLC, Vector Laboratories, Inc., MockV Solutions, LLC and Cygnus Technologies, LLC (“Cygnus”) and their respective subsidiaries. MLSH 1 is the only other member of Topco LLC. The Organizational Transactions were considered transactions between entities under common control. As a result, the consolidated financial statements for periods prior to the IPO and the Organizational Transactions have been adjusted to combine the previously separate entities for presentation purposes. Basis of Presentation The Company operates and controls all of the business and affairs of Topco LLC, and through Topco LLC and its subsidiaries, conducts its business. Because we manage and operate the business and control the strategic decisions and day-to-day operations of Topco LLC and also have a substantial financial interest in Topco LLC, we consolidate the financial results of Topco LLC, and a portion of our net income is allocated to the non-controlling interests in Topco LLC held by MLSH 1. The accompanying unaudited interim condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and accounts between the businesses comprising the Company have been eliminated in the accompanying consolidated financial statements. Unaudited Interim Condensed Consolidated Financial Statements The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to Form 10-Q of Regulation S-X of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. These unaudited condensed consolidated financial statements include all adjustments necessary to fairly state the financial position and the results of our operations and cash flows for interim periods in accordance with GAAP. All such adjustments are of a normal, recurring nature. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021 or for any future period. The condensed consolidated balance sheet presented as of December 31, 2020, has been derived from the audited consolidated financial statements as of that date. The condensed consolidated financial statements and notes are presented as permitted by Form 10-Q and do not contain all information that is included in the annual financial statements and notes thereto of the Company. The condensed consolidated financial statements and notes included in this report should be read in conjunction with the 2020 financial statements and notes included in the Company’s Annual Report on Form 10-K filed with the SEC. Use of Estimates The preparation of consolidated financial statements in accordance with GAAP requires the Company to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities, equity, revenue and expenses, and related disclosures. These estimates form the basis for judgments the Company makes about the carrying values of assets and liabilities that are not readily apparent from other sources. The Company bases its estimates and judgments on historical experience and on various other assumptions that the Company believes are reasonable under the circumstances. These estimates are based on management’s knowledge about current events and expectations about actions the Company may undertake in the future. Significant estimates include, but are not limited to, revenue recognition, the net realizable value of inventory, expected future cash flows including growth rates, discount rates, terminal values and other assumptions and estimates used to evaluate the recoverability of long-lived assets, estimated fair values of intangible assets and goodwill, the payable to related parties pursuant to the Tax Receivable Agreement (“TRA”), amortization methods and periods, the fair value of leased buildings and other assumptions associated with lease financing transactions, the estimated fair value of our long-term debt, equity-based compensation, the valuation of incentive units, allowance for doubtful accounts, and accounting for income taxes and assessment of valuation allowances. Actual results could differ materially from those estimates. Significant Accounting Policies A description of the Company’s significant accounting policies is included in the audited financial statements within its Annual Report on Form 10-K for the year ended December 31, 2020. There have been no material changes in the Company’s significant accounting policies during the three months ended March 31, 2021. Revenue Recognition The Company generates revenue from the sale of products and services and the performance of services in the fields of nucleic acid production, biologics safety testing, and protein detection. Revenue is recognized when control of promised goods or services is transferred to a customer in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To determine revenue recognition for its arrangements with customers, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The majority of the Company’s contracts include only one performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is defined as the unit of account for revenue recognition. The Company also recognizes revenue from other contracts that may include a combination of products and services, the provision of solely services, or from license fee arrangements which may be associated with the delivery of product. Where there is a combination of products and services, the Company accounts for the promises as individual performance obligations if they are concluded to be distinct. Performance obligations are considered distinct if they are both capable of being distinct and distinct within the context of the contract. In determining whether performance obligations meet the criteria for being distinct, the Company considers a number of factors, such as the degree of interrelation and interdependence between obligations, and whether or not the good or service significantly modifies or transforms another good or service in the contract. As a practical expedient, we do not adjust the transaction price for the effects of a significant financing component if, at contract inception, the period between customer payment and the transfer of goods or services is expected to be one year or less. Contracts with customers are evaluated on a contract-by-contract basis as contracts may include multiple types of goods and services as described below. Revenue for an individual contract is recognized at the related transaction price, which is the amount the Company expects to be entitled to in exchange for transferring the products and/or services. The transaction price for product sales is calculated at the contracted product selling price. The transaction price for a contract with multiple performance obligations is allocated to the separate performance obligations on a relative standalone selling price basis. Standalone selling prices for products are determined based on the prices charged to customers, which are directly observable. Standalone selling price of services are mostly based on time and materials. Generally, payments from customers are due when goods and services are transferred. As most contracts contain a single performance obligation, the transaction price is representative of the standalone selling price charged to customers. Revenue is recognized only to the extent that it is probable that a significant reversal of the cumulative amount recognized will not occur in future periods. Variable consideration has not been material to our consolidated financial statements. The Company accepts returns only if the products do not meet customer specifications and historically, the Company’s volume of product returns has not been significant. Further, no warranties are provided for promised goods and services other than assurance type warranties. The Company has elected the practical exemption to not disclose the unfulfilled performance obligations for contracts with an original length of one year or less. The Company had no material unfulfilled performance obligations for contracts with an original length greater than one year for any period presented. Nucleic Acid Production Nucleic Acid Production revenue is generated from the manufacture and sale of highly modified, complex nucleic acids products to support the needs of our of customers’ research, therapeutic and vaccine programs. The primary offering of products include; CleanCap ® , mRNA, and specialized oligonucleotides. Contracts typically consist of a single performance obligation. We also sell nucleic acid products for labeling and detecting proteins in cells and tissue samples research. The Company recognizes revenue from these products in the period in which the performance obligation is satisfied by transferring control to the customer. Revenue for nucleic acid catalog products is recognized at a single point in time, generally upon shipment to the customer. Revenue for contracts for certain custom nucleic acid products, with an enforceable right to payment and a reasonable margin for work performed to date, is recognized over time, based on a cost-to-cost input method over the manufacturing period. Biologics Safety Testing The Company’s Biologics Safety Testing revenue is associated with the sale of bioprocess impurity detection kit products. We also enter into contracts that include custom antibody development, assay development and antibody affinity extraction services. These products and services enable the detection of impurities that occur in the manufacturing of biologic drugs and other therapeutics. The Company recognizes revenue from the sale of bioprocess impurity detection kits in the period in which the performance obligation is satisfied by transferring control to the customer. Custom antibody development contracts consist of a single performance obligation, typically with an enforceable right to payment and a reasonable margin for work performed to date. Revenue is recognized over time based on a cost-to-cost input method over the contract term. Where an enforceable right to payment does not exist, revenue is recognized at a point in time when control is transferred to the customer. Assay development service contracts consist of a single performance obligation, revenue is recognized at a point in time when a successful antigen test and report is provided to the customer. Affinity extraction services, which generally occur over a short period of time, consist of a single performance obligation to perform the extraction service and provide a summary report to the customer. Revenue is recognized either over time or at a point in time depending on contractual payment terms with the customer. Protein Detection The Company also manufactures and sells protein labeling and detection reagents to customers that are used for basic research and development. The contracts to sell these catalog products consist of a single performance obligation to deliver the reagent products. Revenue from these contracts is recognized at a point in time, generally upon shipment of the final product to the customer. Sales taxes Sales taxes collected by the Company are not included in the transaction price as revenue as they are ultimately remitted to a governmental authority. Shipping and handling costs Shipping and handling costs, which are charged to customers, are included in revenue and is recognized at the same time that the related product revenue is recognized. Contract costs The Company recognizes the incremental costs of obtaining contracts as an expense when incurred when the amortization period of the assets that otherwise would have been recognized is one year or less. These costs are included in sales and marketing and general and administrative expenses. The costs to fulfill the contracts are determined to be immaterial and are recognized as an expense when incurred. Contract balances Contract assets are generated when contractual billing schedules differ from revenue recognition timing and the Company records a contract receivable when it has an unconditional right to consideration. Contract assets balances, which are included in prepaid and other current assets, totaled $1.0 million and $0.2 million as of March 31, 2021 and December 31, 2020, respectively. Contract liabilities include billings in excess of revenue recognized, such as customer deposits and deferred revenue. Customer deposits, which are included in accrued expenses, are recorded when cash payments are received or due in advance of performance. Deferred revenue is recorded when the Company has unsatisfied performance obligations. Total contract liabilities were $120.7 million and $79.2 million as of March 31, 2021 and December 31, 2020, respectively. Contract liabilities are expected to be recognized into revenue within the next twelve months. Disaggregation of Revenue The following tables summarize the revenue by segment and region for the periods presented (in thousands): For the three months ended March 31, 2021 Nucleic Acid Biologics Protein Total North America $ 68,132 $ 6,412 $ 3,752 $ 78,296 Europe, the Middle East and Africa 47,898 4,349 1,468 53,715 Asia Pacific 7,885 6,735 1,360 15,980 Latin and Central America 17 153 50 220 Total revenue $ 123,932 $ 17,649 $ 6,630 $ 148,211 For the three months ended March 31, 2020 Nucleic Acid Biologics Protein Total North America $ 24,869 $ 5,125 $ 3,429 $ 33,423 Europe, the Middle East and Africa 2,049 3,541 1,622 7,212 Asia Pacific 3,558 5,562 1,107 10,227 Latin and Central America 13 66 40 119 Total revenue $ 30,489 $ 14,294 $ 6,198 $ 50,981 The following table provides a disaggregation of revenue based on the pattern of revenue recognition (in thousands): For the three months ended March 31, 2021 2020 Revenue recognized at a point in time $ 136,231 $ 49,775 Revenue recognized over time 11,980 1,206 Total revenue $ 148,211 $ 50,981 Non-Controlling Interests Non-controlling interests represent the portion of profit or loss, net assets and comprehensive income of our consolidated subsidiaries that is not allocable to the Company based on our percentage of ownership of such entities. Non-controlling interests consist of the following: • Until November, 2020 Topco LLC held a 70% ownership interest in MLSC Holdings, LLC (“MLSC”) through its consolidated subsidiaries with the remaining 30% being recorded as non-controlling interests in our consolidated financial statements . MLSC net income or loss was attributed to the non-controlling interests using an attribution method, similar to the hypothetical liquidation at book value method, based on the distribution provisions of the MLSC Amended and Restated Limited Liability Company Agreement (“MLSC LLC Agreement”). In November 2020, and before the closing of the IPO, Topco LLC repurchased all of the outstanding non-controlling interests in MLSC for $166.4 million . • In November 2020, based on the Organizational Transactions described above, we became the sole managing member of Topco LLC. As of March 31, 2021, we hold approximately 38% of the outstanding LLC Units of Topco LLC, and approximately 62% of the outstanding LLC Units of Topco LLC are held by MLSH 1. Therefore, we report non-controlling interests based on LLC Units of Topco LLC held by MLSH 1 on our condensed consolidated balance sheet as of March 31, 2021. Income or loss attributed to the non-controlling interest in Topco LLC is based on the LLC Units outstanding during the period for which the income or loss is generated and is presented on the condensed consolidated statements of income and consolidated statements of comprehensive income. MLSH 1 is entitled to exchange LLC Units, together with an equal number of shares of our Class B common stock (together referred to as “Paired Interests”), for shares of Class A common stock on a one-for-one basis or, at our election, for cash, from a substantially concurrent public offering or private sale (based on the price of our Class A common stock in such public offering or private sale). As such, future exchanges of Paired Interests by MLSH 1 will result in a change in ownership and reduce or increase the amount recorded as non-controlling interests and increase or decrease additional paid-in-capital when Topco LLC has positive or negative net assets, respectively. For the three months ended March 31, 2021, MLSH 1 did not exchange any Paired Interests. In April 2021, MLSH 1 executed an exchange of Paired Interest immediately prior to the closing of the Company’s secondary offering (see Note 11) A distributio n of $23.1 million for tax liabilities was made to MLSH 1 during the three months ended March 31, 2021. No distributions were made during the three months ended March 31, 2020. Segment Information The Company operates in three reportable segments. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker (“CODM”), its Chief Executive Officer, allocates resources and assesses performance based upon discrete financial information at the segment level. Substantially all of our long-lived assets are located in the United States. Net Income per Class A Common Share/Unit Attributable to Maravai LifeSciences Holdings, Inc. Basic net income per Class A Common share/unit attributable to Maravai LifeSciences Holdings, Inc. is computed by dividing net income attributable to us by the weighted average number of Class A Common shares/units outstanding during the period. The non-controlling interest, for historical periods prior to the IPO, is calculated pursuant to the terms of the MLSC LLC Agreement on a fully-distributed basis, taking into account the various classes of equity of MLSC, including the cumulative yields on MLSC’s preferred units. Diluted net income per Class A Common share/unit is calculated by giving effect to all potential weighted average dilutive LLC incentive units for historical periods prior to the IPO and stock options, restricted stock units, and Topco LLC Units, that together with an equal number of shares of our Class B common stock (together referred to as “Paired Interests”) are convertible into shares of our Class A Common stock, for the periods after the IPO. For historical periods prior to the IPO, the weighted average number of common units outstanding during the period and the potential dilutive common unit equivalents is determined under the two-class method. The dilutive effect of outstanding awards, if any, is reflected in diluted earnings per share/unit by application of the treasury stock method or if-converted method, as applicable. The Company reported net income attributable to Maravai LifeSciences Holdings, Inc. for the three months ended March 31, 2021 and 2020. Fair Value of Financial Instruments The Company defines fair value as the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The Company follows accounting guidance that has a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of the asset or liability as of the measurement date. Instruments with readily available actively quoted prices, or for which fair value can be measured from actively quoted prices in an orderly market, will generally have a higher degree of market price transparency and a lesser degree of judgment used in measuring fair value. The three levels of the hierarchy are defined as follows: Level 1—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets; Level 2—Include other inputs that are directly or indirectly observable in the marketplace; and Level 3—Unobservable inputs which are supported by little or no market activity. As of March 31, 2021 and December 31, 2020, the carrying value of current assets and liabilities approximates fair value due to the short maturities of these instruments. The fair values of the Company’s long-term debt approximate carrying value, excluding the effect of unamortized debt discount, as it is based on borrowing rates currently available to the Company for debt with similar terms and maturities (Level 2 inputs). Concentration of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and accounts receivable. The Company maintains the majority of its cash balances at multiple financial institutions that management believes are of high credit-quality and financially stable. Cash is deposited with major financial institutions in excess of Federal Deposit Insurance Corporation (“FDIC”) insurance limits. The Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash is held. The Company provides credit, in the normal course of business, to international and domestic distributors and customers, which are geographically dispersed. The Company attempts to limit its credit risk by performing ongoing credit evaluations of its customers and maintaining adequate allowances for potential credit losses. The following table summarizes revenue from each of our customers who individually accounted for 10% or more of our total revenue or accounts receivable for the periods presented: Revenue Accounts Receivable, net For the three months ended March 31, March 31, 2021 December 31, 2020 2021 2020 BioNTech SE 22.2 % * 32.9 % * Pfizer, Inc. 29.2 % * 34.3 % 45.1 % Sanofi * 26.0 % * * CureVac * * * 12.8 % *Less than 10% For the three months ended March 31, 2021, substantially all of the revenue recorded for BioNTech SE and Pfizer, Inc. was generated by our Nucleic Acid Production segment. The Company continues to experience strong revenue growth in the Nucleic Acid Production segment, driven by sales of CleanCap ® r elated products which represent a significant portion of the Company’s total revenue in the first fiscal quarter of 2021. For the three months ended March 31, 2020, substantially all of the revenue recorded for Sanofi was generated by our Nucleic Acid Production segment. Emerging Growth Company Status The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these condensed consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. Recently Issued Accounting Pronouncements Not Yet Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (“Topic 842”), which supersedes the guidance in ASC 840, Leases . The new standard, as amended by subsequent ASUs on Topic 842 and recent extensions issued by the FASB in response to COVID-19, requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The Company plans to adopt this standard using the modified retrospective approach with a cumulative effect adjustment to retained earnings at the beginning of the period of adoption. The Company will also adopt certain practical expedients provided by Topic 842. As a result of the Company having elected the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act, and assuming the Company continues to be considered an Emerging Growth Company, Topic 842 will be effective for the Company on January 1, 2022. The Company is currently assessing its inventory of leases but has not yet determined the full effects of Topic 842 on its consolidated financial statements but does expect the adoption of Topic 842 will have a material impact on the Company’s consolidated financial statements and related notes to the recognition of right of use (“ROU”) assets and lease liabilities on the Company’s consolidated balance sheets, but it will not have a material impact on the Company’s consolidated statement of income. The adoption of Topic 842 will also result in enhanced disclosures. In June 2016, the FASB issued ASU 2016-13 , Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments which has been subsequently amended (“ASU 2016-13”). ASU 2016-13 revises the measurement of credit losses for most financial instruments measured at amortized cost, including trade receivables, from an incurred loss methodology to an expected loss methodology which results in earlier recognition of credit losses. Under the incurred loss model, a loss is not recognized until it is probable that the loss-causing event has already occurred. The new standard introduces a forward-looking expected credit loss model that requires an estimate of the expected credit losses over the life of the instrument by considering all relevant information including historical experience, current conditions, and reasonable and supportable forecasts that affect collectability. In addition, this standard also modifies the impairment model for available-for-sale debt securities, which are measured at fair value, by eliminating the consideration for the length of time fair value has been less than amortized cost when assessing credit loss for a debt security and provides for reversals of credit losses through income upon credit improvement. As a result of the Company having elected the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act, and assuming the Company continues to be considered an Emerging Growth Company, ASU 2016-13, will be effective for the Company on January 1, 2023, with early adoption permitted. The Company is currently assessing the impact of adopting this standard on its consolidated financial statements and disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018-15”). The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This new standard also requires customers to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement. This ASU is effective for years beginn

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The Company’s goodwill of $224.3 million as of March 31, 2021 and December 31, 2020, represents the excess of purchase consideration over the fair value of assets acquired and liabilities assumed. As of March 31, 2021 and December 31, 2020, the Company had four reporting units, two of which are contained in the Nucleic Acid Production segment. The Company has not recognized any goodwill impairment in any of the periods presented. The following is the Company’s goodwill by segment (in thousands): Nucleic Acid Biologics Protein Total March 31, 2021 $ 32,838 $ 119,928 $ 71,509 $ 224,275 December 31, 2020 $ 32,838 $ 119,928 $ 71,509 $ 224,275 Intangible assets are being amortized on a straight-line basis, which reflects the expected pattern in which the economic benefits of the intangible assets are being obtained, over an estimated useful life ranging from 5 to 15 years. The components of finite-lived intangible assets and accumulated amortization are as follows: As of March 31, 2021 Gross Accumulated Net Estimated Weighted (in thousands) (in years) (in years) Trade Names $ 11,490 $ 5,700 $ 5,790 5 - 15 6.1 Patents and Developed Technology 169,404 55,952 113,452 5 - 14 9.2 Customer Relationships 83,323 29,949 53,374 10-14 8.6 Total $ 264,217 $ 91,601 $ 172,616 8.9 As of December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Estimated Useful Life Weighted Average Remaining Amortization Period (in thousands) (in years) (in years) Trade Names $ 11,490 $ 5,384 $ 6,106 5 - 15 6.3 Patents and Developed Technology 169,404 52,809 116,595 5 - 14 9.5 Customer Relationships 83,323 28,368 54,955 10 - 14 8.8 Total $ 264,217 $ 86,561 $ 177,656 9.1 The Company recognized $3.1 million of amortization expense from intangible assets directly linked with revenue generating activities within cost of revenue in the consolidated statement of income for the three months ended March 31, 2021 and 2020. Amortization expense for intangible assets that are not directly related to sales generating activities of $1.9 million was recorded as selling, general and administrative expenses for the three months ended March 31, 2021 and 2020. As of March 31, 2021, the estimated future amortization expense for finite-lived intangible assets is as follows (in thousands): 2021 (remaining nine months) $ 15,039 2022 19,428 2023 19,230 2024 19,230 2025 19,230 Thereafter 80,459 Total estimated amortization expense $ 172,616

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Balance Sheet Components	Balance Sheet Components Inventory Inventory consists of the following (in thousands): March 31, 2021 December 31, 2020 Raw materials $ 20,190 $ 11,112 Work in process 19,897 18,333 Finished goods 7,042 3,856 Total inventory $ 47,129 $ 33,301

Lease Commitments

Lease Commitments	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Lease Commitments	Lease Commitments The Company leases four facilities, including office, laboratory and manufacturing space under long-term non-cancelable operating leases. The leased facilities have initial terms of two twelve Rent expense for the three months ended March 31, 2021 and 2020, was approximately $1.0 million and $0.8 million, respectively. For the three months ended March 31, 2021 and 2020, reported rent expense is net of approximately $0.3 million and $0.4 million, respectively, of deferred gain being recognized over the life of the lease associated with the Company’s sale leaseback arrangement for its Burlingame, California facility. In January 2020, the Company completed the sale of land, building and related building improvements specific to its facility in Burlingame, California for approximately $34.5 million in cash. Simultaneously, with the close of the transaction, the Company leased the property for a two-and-a-half-year period, resulting in a total of $3.3 million in new lease obligations through December 31, 2021. The Company’s sale of the building and immediate leaseback of the facility qualified for sale-leaseback accounting. The lease was evaluated and classified as an operating lease. Given the Company was considered to retain more than a minor part but less than substantially all of the use of the property, the present value of the minimum lease payment over the lease term of $3.1 million was required to be deferred and recognized as a reduction of rent expense over the life of the lease. Net of the $3.1 million in deferred gain, the Company recognized a net gain on the sale of the asset of $19.0 million during the three months ended March 31, 2020. In August 2020, the Company executed a six-month extension for the leased property, including escalating rent payments, with total incremental lease payments associated with the extension of $1.8 million. The unamortized deferred gain at the time of the modification, approximating $2.0 million, is being amortized on a prospective basis over the extended lease term. Upon execution of the amendment inclusive of escalating rent payments, expense is being recognized on a straight-line basis and the difference between the recognized rent expense and the amounts paid under the lease are being recorded as deferred rent included in other short-term and long-term liabilities on the consolidated balance sheet as of March 31, 2021 and December 31, 2020. In July 2018, the Company entered into a lease for a new manufacturing facility (the “San Diego Facility Lease”). The lease included tenant improvement provisions for construction prior to occupancy. Construction on this new manufacturing facility began in 2018 and Company evaluated the extent of its financial and operational involvement in the tenant improvements to the San Diego Facility Lease to determine whether it was considered the owner of the construction project. The Company concluded that it was deemed to be the owner of the facility for accounting purposes (even though it did not meet the definition for legal purposes) during the construction period which began in 2018 and was completed in 2019. In 2019, upon completion of the construction, the Company evaluated the lease and concluded that the completed construction project failed to qualify for sale and leaseback accounting and has accounted for the lease as a financing lease transaction. The leased building and related improvements remain on the Company’s balance sheet as of March 31, 2021 and December 31, 2020 and rental payments associated with the San Diego Facility Lease have been allocated to operating lease expense for the ground underlying the leased building and principal and interest payments on the lease facility financing obligation. The Company recorded the fair value of the building asset and improvements, which was estimated to be $59.0 million and the related lease facility financing obligation of $51.2 million. The difference between the gross asset value and the lease facility financing obligation represents the approximate $8.0 million of building improvement costs reimbursed by the Company. In September 2020, the Company amended its San Diego Facility lease agreement to provide for additional manufacturing and office space. The amended lease agreement provides for tenant improvements for construction prior to occupancy of $2.7 million, rent concessions, and escalating rent payments over the life of the lease which now expires in May 2030. The total future minimum lease payments under the amended lease agreement are $57.1 million, with an option to renew subject to certain conditions. As of December 31, 2020, the anticipated tenant improvement allowance was recorded as a component of the lease facility financing obligation, a $2.0 million receivable for lessor-funded financing within prepaid and other current assets, and $0.7 million in construction in progress for costs incurred to date as the Company has earned the right to this portion of the tenant allowance as of December 31, 2020. As of December 31, 2020, the Company had recognized $20.4 million and $1.7 million in construction in progress and accrued expenses. During the three months ended March 31, 2021, the Company earned the right to the remaining $2.0 million of the tenant allowance and recognized the amount as a component of the expanded space. Construction associated with the expansion was completed and placed into service during the three months ended March 31, 2021. As a result, approximately $21.0 million of cost was reclassified from construction in progress into building, leasehold improvements, and equipment. The Company recognizes payments under the lease agreement as a reduction of the lease facility financing obligation using the effective interest method and the ground rent as operating lease expense as reflected in the schedule below. Payments on the San Diego Facility Lease obligation for the three months ended March 31, 2021 and 2020 were approximately $1.0 million and $0.6 million, respectively. For the three months ended March 31, 2021 and 2020 the Company recognized rent expense associated with the ground lease for the San Diego Facility Lease of approximately $0.2 million in the consolidated statements of income. The Company is also considered to be the accounting owner of its Southport, North Carolina leased facility (the “Southport Facility”). In 2017, the Company amended its initial lease with the former related party landlord to include the lease of additional space as well as an adjustment of the base rent for the existing space. The Company continues to recognize payments under the amended lease agreement as a reduction of the facility financing obligation using the effective interest method and the ground rent as operating lease expense as noted in the schedule below. As a result of the amendment, the Company anticipates the repayment of the financing obligation by September 2024. The fair value of the leased property established at acquisition continues to be depreciated over the building’s estimated useful life of thirty-five years. For the three months ended March 31, 2021 and 2020, payments on these lease obligations and the rent associated with the ground lease for the Southport Facility were not significant. As of March 31, 2021, minimum annual payments under the Company’s non-cancelable lease agreements and lease financing obligations were follows (in thousands): Lease Facility Financing Obligations Operating Leases 2021 (remaining nine months) $ 3,223 $ 2,112 2022 4,648 3,062 2023 5,014 1,336 2024 5,109 1,371 2025 5,071 1,104 2026 and beyond 24,272 5,286 Total minimum payments 47,337 14,271 Less: amount representing interest (26,970) Present value of future minimum lease payments 20,367 Residual value of lease facility financing obligation 36,563 Less: short-term lease facility financing obligations (1,006) Long-term lease facility financing obligations $ 55,924 Operating leases in the table above includes future minimum lease payments for the ground lease for the Southport and San Diego Facilities and Vector sale-leaseback. Future minimum lease payments for the Vector sale-leaseback for the remaining nine months of fiscal year 2021 and full fiscal year 2022 are $1.2 million and $1.8 million, respectively.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt 2020 Credit Agreements In October 2020, Maravai Intermediate Holdings, LLC (“Intermediate”), a wholly-owned subsidiary of Topco LLC, along with its subsidiaries (the “New Borrowers”), entered into a credit agreement (the “New Credit Agreement”) to refinance existing $400.0 million long-term debt with a new $780.0 million facility. The New Credit Agreement provides for a First Lien Term Loan (the “New First Lien Term Loan”) of $600.0 million, maturing October 2027, and a Revolving Credit Facility (the New Revolving Credit Facility”) for up to $180.0 million in funding. The New Credit Agreement amended and restated the Company’s prior credit agreement as of August 2018 (the “First and Second Lien Credit Agreements”). In November 2020, the Company repaid $50.0 million of principal balance of the New First Lien Term Loan using proceeds from the IPO. The New First Lien Term Loan bears interest at an annual rate equal to the Eurocurrency rate (i.e. the LIBOR rate) plus an applicable rate. The interest rate was 5.25% per annum as of March 31, 2021. The New Credit Agreement also provides for a $20.0 million limit for letters of credit, which remained unused as of March 31, 2021 and December 31, 2020. Borrowings under the New Credit Agreement are unconditionally guaranteed by Topco LLC, together with the existing and future material domestic subsidiaries of Topco LLC (subject to certain exceptions), as specified in the respective guaranty agreements. Borrowings under the New Credit Agreement are also secured by a first-priority lien and security interest in substantially all of the assets (subject to certain exceptions) of existing and future material domestic subsidiaries of Topco LLC that are loan parties. The New Credit Agreement contains certain covenants, including, among other things, covenants limiting our ability to incur or prepay certain indebtedness, pay dividends or distributions, dispose of assets, engage in mergers and consolidations, make acquisitions or other investments and make changes in the nature of the business. Additionally, the New Credit Agreement also requires us to maintain a certain net leverage ratio. The Company was in compliance with these covenants as of March 31, 2021. Interest Rate Cap In the first fiscal quarter of 2021, the Company entered into a new interest rate cap agreement to manage a portion of its variable interest rate risk on its outstanding long-term debt. The contract, effective March 31, 2021, entitles the Company to receive from the counterparty at each calendar quarter end the amount, if any, by which a specified defined floating market rate exceeds the cap strike interest rate, applied to the contracts notional amount of $415.0 million The floating rate of interest is reset at the end of each three month period. The contract expires on March 31, 2023. The interest rate cap agreement has not been designated as a hedging relationship and has been recognized on the condensed consolidated balance sheet at fair value of $0.3 million within non-current assets with changes in fair value recognized in the condensed consolidated statements of income. The Company’s long-term debt consisted of the following (in thousands): March 31, 2021 December 31, 2020 New First Lien Term Loan $ 548,500 $ 550,000 Unamortized debt issuance costs (14,907) (15,386) Total long-term debt 533,593 534,614 Less: current portion (6,000) (6,000) Total long-term debt, less current portion $ 527,593 $ 528,614 There were no balances outstanding on the Company’s New Revolving Credit Facility as of March 31, 2021 and December 31, 2020. As of March 31, 2021, the aggregate future principal maturities of the Company’s debt obligations for each of the next five years, based on contractual due dates, were as follows (in thousands): 2021 (remaining nine months) $ 4,500 2022 6,000 2023 6,000 2024 6,000 2025 6,000 Thereafter 520,000 Total long-term debt $ 548,500

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Equity-Based Compensation	Equity-Based Compensation In November 2020, in connection with the IPO, the Company’s board of directors adopted the 2020 Omnibus Incentive Plan (the “2020 Plan”). All awards granted under the 2020 Plan are intended to be treated as (i) stock options, including incentive stock options (“ISOs”), (ii) stock appreciation rights (“SARs”), (iii) restricted share awards (“RSAs”), (iv) restricted stock units (“RSUs”), (v) dividend equivalents, or (vi) other stock or cash awards as may be determined by the plan’s administrator from time to time. The Company uses the Black-Scholes option pricing model to estimate the fair value of each option grant on the date of grant or any other measurement date. Prior to the IPO, the Company’s parent, MLSH 1, granted unit-based awards to certain executives of the Company in the form of non-vested units. Our controlled subsidiary, MLSC, also granted unit-based awards to certain employees (collectively the “Incentive Units”). All awards of Incentive Units were measured based on the fair value of the award on the date of grant. Compensation expense for the Incentive Units is recognized over their requisite service period. The incentive units were subject to a combination of market, service or performance vesting conditions. For Incentive Units subject to performance conditions, the Company evaluated the probability of achieving each performance condition at each reporting date and recognized expense over the requisite service period when it was deemed probable that a performance condition will be met using the accelerated attribution method over the requisite service period. Upon completion of the IPO all of the Incentive Units subject to a performance and market condition became vested. The following table sets forth the total equity-based compensation expense included in the Company’s consolidated statements of income (in thousands): For the three months ended March 31 2021 2020 Cost of sales $ 510 $ 4 Research and development 87 80 Selling, general and administrative 1,681 424 Total equity-based compensation $ 2,278 $ 508 No stock options were exercised or exercisable during the three months ended March 31, 2021. As of March 31, 2021, the total unrecognized equity-based compensation related to stock options, Incentive Units and RSUs were $21.6 million, $2.9 million and $1.7 million, respectively, which is expected be recognized over a weighted-average period of approximately 3.7, 2.3 and 2.6 years, respectively.

Net Income Per Class A Common S

Net Income Per Class A Common Share/Unit Attributable to Maravai LifeSciences Holdings, Inc	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Net Income Per Class A Common Share/Unit Attributable to Maravai LifeSciences Holdings, Inc	Net Income Per Class A Common Share/Unit Attributable to Maravai LifeSciences Holdings, Inc. Net income per unit for periods prior to our IPO have not been retrospectively adjusted to give effect to the Organizational Transactions described in Note 1 and the 69,000,000 shares of Class A common stock sold in our IPO. Additionally, basic net income per Class A common stock for the three months ended March 31, 2021, has been calculated by dividing net income for the period, adjusted for net income attributable to non-controlling interests, by the weighted average Class A common stock outstanding during the period. Diluted net income per Class A common share gives effect to potentially dilutive securities by application of the treasury stock method or if-converted method, as applicable. Diluted net income per share of Class A common stock attributable to the Company is computed by adjusting the net income and the weighted-average number of shares of Class A common stock outstanding to give effect to potentially diluted securities. Prior to the Organizational Transactions, the members’ equity of MLSC was comprised of Class A and Class B preferred units, unit-based awards granted only to certain employees of its subsidiaries (“MLSC Incentive Units”) and MLSC common units, each with participation rights. The MLSC preferred units were entitled to cumulative dividends of 8.0% compounded annually, up to an additional 4.0%, also compounded annually, to the extent of remaining unallocated earnings. The preferred unitholders of MLSC were required, however, to share a portion of the additional 4.0% in dividends with the holders of MLSC Incentive Units based on a formula defined in the MLSC LLC Agreement. The Company determined that vested MLSC Incentive Units and MLSC Class A and B preferred units were participating securities under the two-class method at the MLSC subsidiary level, however, they do not have a contractual obligation to share in losses, and therefore no undistributed losses have been allocated to them. MLSH 1 Incentive Units are granted by the parent of the Company, and as a result, do not represent potential common units of the Company. In September 2020, the Company entered into a Sale and Rollover Agreement and repurchased a majority of the outstanding MLSC Class B preferred units as well as entered into an agreement that resulted in an exchange of the remaining MLSC Class B preferred units and MLSC common units for MLSH 1 common units in November 2020 upon the IPO. Prior to the Organizational Transactions and IPO, basic net income per common unit attributable to our member for the three months ended March 31, 2020 was based on the weighted average number of common units outstanding during the period. Diluted net income per common unit is computed by adjusting the net income and the weighted-average number of common units outstanding to give effect to potentially dilutive securities. For the three months ended March 31, 2021 2020 (in thousands, except share and unit amounts and per share and per unit amounts) Net income per Class A common share/unit: Numerator—basic: Net income $75,852 $ 23,879 Less: preferred unit dividends attributable to the MLSC non-controlling interests — (1,530) Less: income attributable to common non-controlling interests (52,605) (21) Net income attributable to Maravai LifeSciences Holdings, Inc.—basic $23,247 $ 22,328 Numerator—diluted: Net income attributable to Maravai LifeSciences Holdings, Inc.—basic 23,247 22,328 Net income effect of dilutive securities: Effect of dilutive employee stock purchase plan ("ESPP") and restricted stock units 4 — Net income attributable to Maravai LifeSciences Holdings, Inc.—diluted $23,251 $22,328 Denominator—basic: Weighted average Class A common shares/units outstanding—basic (1) 96,646,515 253,916,941 Net income per Class A common share/unit—basic $0.24 $0.09 Denominator—diluted: Weighted average Class A common shares/units outstanding—basic (1) 96,646,515 253,916,941 Weighted average effect of dilutive securities: Effect of dilutive restricted stock units 17,481 — Effect of dilutive ESPP 8,972 — Weighted average Class A common shares/units outstanding—diluted (1) 96,672,968 253,916,941 Net income per Class A common share/unit—diluted $0.24 $0.09 ____________________ (1) Amounts for the three months ended March 31, 2021 represent shares of Class A common stock outstanding. Amounts for the three months ended March 31, 2020 represent Topco LLC units outstanding. Shares of Class B common stock do not share in the earnings or losses of the Company, and are therefore not participating securities. As such, a separate presentation of basic and diluted net income per share for Class B common stock under the two-class method has not been presented. The following table presents potentially dilutive securities excluded from the computation of diluted net income per share/unit for the periods presented because their effect would have been anti-dilutive: For the three months ended March 31 2021 2020 Time-based incentive units — 1,140 Performance-based incentive units — 2,849 Stock options 1,587 — Shares of Class B common stock 160,974 — 162,562 3,989

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We are subject to U.S. federal and state income taxes with respect to our allocable share of any taxable income or loss of Topco LLC generated after the IPO, as well as any stand-alone income or loss we generate. Topco LLC is organized as a limited liability company and treated as a partnership for federal tax purposes, with the exception of Maravai Inc. and its subsidiaries who are taxpaying entities in the U.S., Canada, and the U.K. Topco LLC generally does not pay income taxes on its taxable income in most jurisdictions. Instead, Topco LLC’s taxable income or loss is passed through to its members, including us. Maravai, Inc. files and pays corporate income taxes for U.S. federal and state income tax purposes and internationally, primarily within the U.K. and Canada. We anticipate this structure to remain in existence for the foreseeable future. On March 11, 2021, the President signed the American Rescue Plan Act of 2021 (ARPA) into law. ARPA includes several provisions, such as measures that extend and expand the employee retention credit, previously enacted under the Coronavirus Aid, Relief and Economic Security Act (CARES Act), through December 31, 2021. ARPA also contains other provisions that do not have a material impact on our income tax expense and effective tax rate. The Company’s effective income tax rate was 15.3% and 13.2% for the three months ended March 31, 2021 and 2020, respectively. The following table summarizes our income tax expense (in thousands, except percentages): Three months ended March 31, 2021 2020 Income before provision for income taxes $ 89,561 $ 27,514 Provision for income taxes $ 13,709 $ 3,635 Effective tax rate 15.3 % 13.2 % Our effective tax rate of 15.3% for the three months ended March 31, 2021 differed from the U.S. federal statutory rate of 21.0%, primarily due to income associated with the non-controlling interest and an increase in tax expense due to adjustments to the deferred tax assets for our investment in Topco LLC, which is expected to be recovered at lower effective state tax rates. The provision for income taxes for the period ended March 31, 2020 relates to the corporate operating companies under Maravai LifeSciences Holdings, Inc. as we did not own units in Topco LLC. Our effective tax rate of 13.2% for the three months ended March 31, 2020 differed from the U.S. federal statutory rate of 21%, primarily due to income associated with the non-controlling interest and a discrete tax charge associated with a building sale offset with a release of valuation allowance on our excess interest expense carryforward due to the enactment of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, which modified the calculation of interest deductions for 2019 and 2020. Tax Distributions to Topco LLC’s Owners Topco LLC is subject to an operating agreement put in place at the date of the Organizational Transactions. The agreement has numerous provisions related to allocations of income and loss, as well as timing and amounts of distributions to its owners. This agreement also includes a provision requiring cash distributions enabling its owners to pay their taxes on income passing through from Topco LLC. These tax distributions are computed based on an assumed income tax rate equal to the sum of (i) the maximum combined marginal federal and state income tax rate applicable to an individual and (ii) the net investment income tax. The assumed income tax rate currently totals 46.7%, which may increase to 54.1% in certain cases where the qualified business income deduction is unavailable. In addition, under the tax rules, Topco LLC is required to allocate taxable income disproportionately to its unit holders. Because tax distributions are determined based on the holder of LLC Units who is allocated the largest amount of taxable income on a per unit basis, but are made pro rata based on ownership, Topco LLC is required to make tax distributions that, in the aggregate, will likely exceed the amount of taxes Topco LLC would have otherwise paid if it were taxed on its taxable income at the assumed income tax rate. Topco LLC is subject to entity level taxation in certain states and certain of its subsidiaries are subject to entity level U.S. and foreign income taxes. As a result, the accompanying consolidated statements of income include income tax expense related to those states and to U.S. and foreign jurisdictions where Topco LLC or any of our subsidiaries are subject to income tax. During the three months ended March 31, 2021, Topco LLC paid tax distributions of $37.0 million to its owners, including $13.9 million to us. As of March 31, 2021, no amounts for tax distributions have been accrued as such payments were made during the quarter.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions GTCR, LLC and MLSH 1 Prior to the IPO, GTCR, LLC (“GTCR”), MLSH 1’s majority owner, provided subsidiaries of the Company with financial and management consulting services through an advisory services agreement. The advisory services agreement provided that the Company pay a $0.1 million quarterly management fee to GTCR. The advisory services agreement was terminated in connection with the IPO. The Company incurred approximately $0.1 million in management fees to GTCR for the three months ended March 31, 2020. The Company also reimburses GTCR for out-of-pocket expenses incurred while providing the above professional services. During the three months ended March 31, 2021 and 2020, out-of-pocket expenses incurred to GTCR were insignificant. In March 2021, the Company made a $23.1 million distribution for tax liabilities to MLSH 1. Legacy Owners of Cygnus The non-controlling interests in MLSC represent equity interest that was retained by the shareholders of the MLSC entity prior to its acquisition by the Company. The President of Cygnus and his affiliated entity were the owners of the non-controlling interests. In September 2020, Topco LLC and MLSH 1 entered into a Sale and Rollover Agreement with the President of Cygnus and his affiliated entity to purchase certain MLSC Class B preferred units and common units as well as exchange the remaining MLSC Class B preferred units and common units for a variable number of MLSH 1 common units. As a result of this transaction, the President of Cygnus and his affiliated entity no longer held a non-controlling interest in MLSC upon the exchange of MLSH 1 common units for the remaining MLSC Class B preferred and common units which occurred in November 2020. The Company leases the Southport Facility, which through the date of the Organizational Transactions was owned by an entity controlled by a close relative of the President of one of its subsidiaries. The President of this subsidiary also personally financed a loan to this entity, which was used to acquire the property leased by the Company. For the three months ended March 31, 2020, the Company paid less than $0.1 million in lease payments for the lease facility. Payable to Related Parties Pursuant to a Tax Receivable Agreement We are a party to a tax receivable agreement (“TRA”) with MLSH 1 and MLSH 2. The TRA provides for the payment by us to MLSH 1 and MLSH 2, collectively, of 85% of the amount of tax benefits, if any, that we actually realize, or in some circumstances are deemed to realize, as a result of the Organizational Transactions and IPO. Based on our current projections of taxable income, and before deduction of any specially allocated depreciation and amortization, we anticipate having enough taxable income to utilize most of these tax benefits. As of March 31, 2021, our liability under the TRA is $383.7 million payable to MLSH 1 and MLSH 2 under the TRA, representing approximately 85% of the calculated tax savings we anticipate being able to utilize in future years. For the three months ended March 31, 2021, the Company recognized a $5.9 million gain on TRA liability adjustment reflecting a change in the tax benefit obligation attributable to a change in the expected tax benefit. The remeasurement was primarily due to changes in our estimated state apportionment and the corresponding reduction of our estimated state tax rate. For the fiscal quarter ended March 31, 2021, no payments were made to MLSH1 or MLSH 2 pursuant to the TRA and $1.3 million of the liability has been reclassified as short-term liability.

Segments

Segments	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segments	Segments The Company’s financial performance is reported in three segments. A description of each segment follows: • Nucleic Acid Production : focuses on the manufacturing and sale of highly modified nucleic acids products to support the needs of customers’ research, therapeutic and vaccine programs. This segment also provides research products for labeling and detecting proteins in cells and tissue samples. • Biologics Safety Testing : focuses on manufacturing and selling biologics safety and impurity tests and assay development services that are utilized by our customers in their biologic drug manufacturing spectrum. • Protein Detection : focuses on manufacturing and selling labeling and visual detection reagents to scientific research customers for their tissue-based protein detection and characterization needs. The Company has determined that adjusted earnings before interest, tax, depreciation, and amortization (“Adjusted EBITDA”) is the profit or loss measure that the CODM uses to make resource allocation decisions and evaluate segment performance. Adjusted EBITDA assists management in comparing the segment performance on a consistent basis for purposes of business decision-making by removing the impact of certain items that management believes do not directly reflect the core operations and, therefore, are not included in measuring segment performance. The Company defines Adjusted EBITDA as net income before interest, taxes, depreciation and amortization, certain non-cash items, and other adjustments that we do not consider in our evaluation of ongoing operating performance from period to period. Corporate costs are managed on a standalone basis and not allocated to segments. Following is financial information relating to the operating segments (in thousands): For the three months ended March 31, 2021 Nucleic Acid Biologics Protein Corporate Eliminations Total Revenue $ 124,169 $ 17,649 $ 6,630 $ — $ (237) $ 148,211 Adjusted EBITDA $ 95,613 $ 14,330 $ 2,267 $ (10,336) $ 58 $ 101,932 For the three months ended March 31, 2020 Nucleic Acid Biologics Protein Corporate Eliminations Total Revenue $ 30,892 $ 14,293 $ 6,198 $ — $ (402) $ 50,981 Adjusted EBITDA $ 18,830 $ 11,940 $ 3,293 $ (4,288) $ (224) $ 29,551 During the three months ended March 31, 2021 and 2020, intersegment revenue was $0.2 million and $0.4 million, respectively. The intersegment sales and the related gross margin on inventory recorded at the end of the period are eliminated for consolidation purposes in the Eliminations column. Internal selling prices for intersegment sales are consistent with the segment’s normal retail price offered to external parties. There was no commission expense recognized for intersegment sales for the three months ended March 31, 2021 and 2020. Intersegment revenue represents intersegment revenue between the Nucleic Acid Production and Protein Detection segments. The Company does not allocate assets to its reportable segments as they are not included in the review performed by the CODM for purposes of assessing segment performance and allocating resources. A reconciliation of Adjusted EBITDA to net income, the most directly comparable GAAP measure, is set forth below (in thousands): For the three months ended March 31, 2021 2020 Net income $ 75,852 $ 23,879 Add: Amortization 5,041 5,075 Depreciation 1,854 1,691 Interest expense 8,770 7,382 Income tax expense 13,709 3,635 EBITDA 105,226 41,662 Acquisition integration costs (811) 689 Acquired in-process research and development costs — 2,881 Equity-based compensation 2,278 508 GTCR management fees — 211 Gain on sale and leaseback transaction — (19,002) Merger and acquisition related expenses 919 902 Financing costs 206 1,700 Tax receivable agreement liability adjustment (5,886) — Adjusted EBITDA $ 101,932 $ 29,551

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn April 12, 2021, the Company completed a secondary offering of 20,700,000 shares of its Class A common stock by certain selling stockholders, which included the full exercise of the underwriters’ option to purchase up to 2,700,000 additional shares of Class A common stock, at a price of $31.25 per share for total gross proceeds of $646.9 million. The selling stockholders were responsible for the underwriting discounts and commissions, and received all of the net proceeds from the sale of shares of Class A common stock. The Company did not receive any proceeds from the sale of the shares of Class A common stock and bore the costs associated with the sale of the shares in the secondary offering. Immediately prior to closing of the secondary offering, MLSH 1 executed an exchange of 17,665,959 LLC units (paired with the corresponding shares of Class B common stock) for an equal number of Class A common stock to be sold in the secondary offering.

Organization and Significant _2

Organization and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The Company operates and controls all of the business and affairs of Topco LLC, and through Topco LLC and its subsidiaries, conducts its business. Because we manage and operate the business and control the strategic decisions and day-to-day operations of Topco LLC and also have a substantial financial interest in Topco LLC, we consolidate the financial results of Topco LLC, and a portion of our net income is allocated to the non-controlling interests in Topco LLC held by MLSH 1. The accompanying unaudited interim condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and accounts between the businesses comprising the Company have been eliminated in the accompanying consolidated financial statements.
Consolidation	Unaudited Interim Condensed Consolidated Financial Statements The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to Form 10-Q of Regulation S-X of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. These unaudited condensed consolidated financial statements include all adjustments necessary to fairly state the financial position and the results of our operations and cash flows for interim periods in accordance with GAAP. All such adjustments are of a normal, recurring nature. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021 or for any future period. The condensed consolidated balance sheet presented as of December 31, 2020, has been derived from the audited consolidated financial statements as of that date. The condensed consolidated financial statements and notes are presented as permitted by Form 10-Q and do not contain all information that is included in the annual financial statements and notes thereto of the Company. The condensed consolidated financial statements and notes included in this report should be read in conjunction with the 2020 financial statements and notes included in the Company’s Annual Report on Form 10-K filed with the SEC. Non-controlling interests represent the portion of profit or loss, net assets and comprehensive income of our consolidated subsidiaries that is not allocable to the Company based on our percentage of ownership of such entities. Non-controlling interests consist of the following: • Until November, 2020 Topco LLC held a 70% ownership interest in MLSC Holdings, LLC (“MLSC”) through its consolidated subsidiaries with the remaining 30% being recorded as non-controlling interests in our consolidated financial statements . MLSC net income or loss was attributed to the non-controlling interests using an attribution method, similar to the hypothetical liquidation at book value method, based on the distribution provisions of the MLSC Amended and Restated Limited Liability Company Agreement (“MLSC LLC Agreement”). In November 2020, and before the closing of the IPO, Topco LLC repurchased all of the outstanding non-controlling interests in MLSC for $166.4 million . • In November 2020, based on the Organizational Transactions described above, we became the sole managing member of Topco LLC. As of March 31, 2021, we hold approximately 38% of the outstanding LLC Units of Topco LLC, and approximately 62% of the outstanding LLC Units of Topco LLC are held by MLSH 1. Therefore, we report non-controlling interests based on LLC Units of Topco LLC held by MLSH 1 on our condensed consolidated balance sheet as of March 31, 2021. Income or loss attributed to the non-controlling interest in Topco LLC is based on the LLC Units outstanding during the period for which the income or loss is generated and is presented on the condensed consolidated statements of income and consolidated statements of comprehensive income.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in accordance with GAAP requires the Company to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities, equity, revenue and expenses, and related disclosures. These estimates form the basis for judgments the Company makes about the carrying values of assets and liabilities that are not readily apparent from other sources. The Company bases its estimates and judgments on historical experience and on various other assumptions that the Company believes are reasonable under the circumstances. These estimates are based on management’s knowledge about current events and expectations about actions the Company may undertake in the future. Significant estimates include, but are not limited to, revenue recognition, the net realizable value of inventory, expected future cash flows including growth rates, discount rates, terminal values and other assumptions and estimates used to evaluate the recoverability of long-lived assets, estimated fair values of intangible assets and goodwill, the payable to related parties pursuant to the Tax Receivable Agreement (“TRA”), amortization methods and periods, the fair value of leased buildings and other assumptions associated with lease financing transactions, the estimated fair value of our long-term debt, equity-based compensation, the valuation of incentive units, allowance for doubtful accounts, and accounting for income taxes and assessment of valuation allowances. Actual results could differ materially from those estimates.
Revenue Recognition	The Company generates revenue from the sale of products and services and the performance of services in the fields of nucleic acid production, biologics safety testing, and protein detection. Revenue is recognized when control of promised goods or services is transferred to a customer in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To determine revenue recognition for its arrangements with customers, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The majority of the Company’s contracts include only one performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is defined as the unit of account for revenue recognition. The Company also recognizes revenue from other contracts that may include a combination of products and services, the provision of solely services, or from license fee arrangements which may be associated with the delivery of product. Where there is a combination of products and services, the Company accounts for the promises as individual performance obligations if they are concluded to be distinct. Performance obligations are considered distinct if they are both capable of being distinct and distinct within the context of the contract. In determining whether performance obligations meet the criteria for being distinct, the Company considers a number of factors, such as the degree of interrelation and interdependence between obligations, and whether or not the good or service significantly modifies or transforms another good or service in the contract. As a practical expedient, we do not adjust the transaction price for the effects of a significant financing component if, at contract inception, the period between customer payment and the transfer of goods or services is expected to be one year or less. Contracts with customers are evaluated on a contract-by-contract basis as contracts may include multiple types of goods and services as described below. Revenue for an individual contract is recognized at the related transaction price, which is the amount the Company expects to be entitled to in exchange for transferring the products and/or services. The transaction price for product sales is calculated at the contracted product selling price. The transaction price for a contract with multiple performance obligations is allocated to the separate performance obligations on a relative standalone selling price basis. Standalone selling prices for products are determined based on the prices charged to customers, which are directly observable. Standalone selling price of services are mostly based on time and materials. Generally, payments from customers are due when goods and services are transferred. As most contracts contain a single performance obligation, the transaction price is representative of the standalone selling price charged to customers. Revenue is recognized only to the extent that it is probable that a significant reversal of the cumulative amount recognized will not occur in future periods. Variable consideration has not been material to our consolidated financial statements. The Company accepts returns only if the products do not meet customer specifications and historically, the Company’s volume of product returns has not been significant. Further, no warranties are provided for promised goods and services other than assurance type warranties. The Company has elected the practical exemption to not disclose the unfulfilled performance obligations for contracts with an original length of one year or less. The Company had no material unfulfilled performance obligations for contracts with an original length greater than one year for any period presented. Nucleic Acid Production Nucleic Acid Production revenue is generated from the manufacture and sale of highly modified, complex nucleic acids products to support the needs of our of customers’ research, therapeutic and vaccine programs. The primary offering of products include; CleanCap ® , mRNA, and specialized oligonucleotides. Contracts typically consist of a single performance obligation. We also sell nucleic acid products for labeling and detecting proteins in cells and tissue samples research. The Company recognizes revenue from these products in the period in which the performance obligation is satisfied by transferring control to the customer. Revenue for nucleic acid catalog products is recognized at a single point in time, generally upon shipment to the customer. Revenue for contracts for certain custom nucleic acid products, with an enforceable right to payment and a reasonable margin for work performed to date, is recognized over time, based on a cost-to-cost input method over the manufacturing period. Biologics Safety Testing The Company’s Biologics Safety Testing revenue is associated with the sale of bioprocess impurity detection kit products. We also enter into contracts that include custom antibody development, assay development and antibody affinity extraction services. These products and services enable the detection of impurities that occur in the manufacturing of biologic drugs and other therapeutics. The Company recognizes revenue from the sale of bioprocess impurity detection kits in the period in which the performance obligation is satisfied by transferring control to the customer. Custom antibody development contracts consist of a single performance obligation, typically with an enforceable right to payment and a reasonable margin for work performed to date. Revenue is recognized over time based on a cost-to-cost input method over the contract term. Where an enforceable right to payment does not exist, revenue is recognized at a point in time when control is transferred to the customer. Assay development service contracts consist of a single performance obligation, revenue is recognized at a point in time when a successful antigen test and report is provided to the customer. Affinity extraction services, which generally occur over a short period of time, consist of a single performance obligation to perform the extraction service and provide a summary report to the customer. Revenue is recognized either over time or at a point in time depending on contractual payment terms with the customer. Protein Detection The Company also manufactures and sells protein labeling and detection reagents to customers that are used for basic research and development. The contracts to sell these catalog products consist of a single performance obligation to deliver the reagent products. Revenue from these contracts is recognized at a point in time, generally upon shipment of the final product to the customer. Sales taxes Sales taxes collected by the Company are not included in the transaction price as revenue as they are ultimately remitted to a governmental authority. Shipping and handling costs Shipping and handling costs, which are charged to customers, are included in revenue and is recognized at the same time that the related product revenue is recognized. Contract costs The Company recognizes the incremental costs of obtaining contracts as an expense when incurred when the amortization period of the assets that otherwise would have been recognized is one year or less. These costs are included in sales and marketing and general and administrative expenses. The costs to fulfill the contracts are determined to be immaterial and are recognized as an expense when incurred. Contract balances Contract assets are generated when contractual billing schedules differ from revenue recognition timing and the Company records a contract receivable when it has an unconditional right to consideration. Contract assets balances, which are included in prepaid and other current assets, totaled $1.0 million and $0.2 million as of March 31, 2021 and December 31, 2020, respectively. Contract liabilities include billings in excess of revenue recognized, such as customer deposits and deferred revenue. Customer deposits, which are included in accrued expenses, are recorded when cash payments are received or due in advance of performance. Deferred revenue is recorded when the Company has unsatisfied performance obligations. Total contract liabilities were $120.7 million and $79.2 million as of March 31, 2021 and December 31, 2020, respectively. Contract liabilities are expected to be recognized into revenue within the next twelve months.
Segment Information	Segment Information The Company operates in three reportable segments. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker (“CODM”), its Chief Executive Officer,
Net Income per Class A Common Share/Unit Attributable to Maravai LifeSciences Holdings, Inc.	Net Income per Class A Common Share/Unit Attributable to Maravai LifeSciences Holdings, Inc. Basic net income per Class A Common share/unit attributable to Maravai LifeSciences Holdings, Inc. is computed by dividing net income attributable to us by the weighted average number of Class A Common shares/units outstanding during the period. The non-controlling interest, for historical periods prior to the IPO, is calculated pursuant to the terms of the MLSC LLC Agreement on a fully-distributed basis, taking into account the various classes of equity of MLSC, including the cumulative yields on MLSC’s preferred units. Diluted net income per Class A Common share/unit is calculated by giving effect to all potential weighted average dilutive LLC incentive units for historical periods prior to the IPO and stock options, restricted stock units, and Topco LLC Units, that together with an equal number of shares of our Class B common stock (together referred to as “Paired Interests”) are convertible into shares of our Class A Common stock, for the periods after the IPO. For historical periods prior to the IPO, the weighted average number of common units outstanding during the period and the potential dilutive common unit equivalents is determined under the two-class method. The dilutive effect of outstanding awards, if any, is reflected in diluted earnings per share/unit by application of the treasury stock method or if-converted method, as applicable. The Company reported net income attributable to Maravai LifeSciences Holdings, Inc. for the three months ended March 31, 2021 and 2020.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company defines fair value as the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The Company follows accounting guidance that has a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of the asset or liability as of the measurement date. Instruments with readily available actively quoted prices, or for which fair value can be measured from actively quoted prices in an orderly market, will generally have a higher degree of market price transparency and a lesser degree of judgment used in measuring fair value. The three levels of the hierarchy are defined as follows: Level 1—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets; Level 2—Include other inputs that are directly or indirectly observable in the marketplace; and Level 3—Unobservable inputs which are supported by little or no market activity. As of March 31, 2021 and December 31, 2020, the carrying value of current assets and liabilities approximates fair value due to the short maturities of these instruments. The fair values of the Company’s long-term debt approximate carrying value, excluding the effect of unamortized debt discount, as it is based on borrowing rates currently available to the Company for debt with similar terms and maturities (Level 2 inputs).
Concentration of Credit Risk	Concentration of Credit RiskFinancial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and accounts receivable. The Company maintains the majority of its cash balances at multiple financial institutions that management believes are of high credit-quality and financially stable. Cash is deposited with major financial institutions in excess of Federal Deposit Insurance Corporation (“FDIC”) insurance limits. The Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash is held. The Company provides credit, in the normal course of business, to international and domestic distributors and customers, which are geographically dispersed. The Company attempts to limit its credit risk by performing ongoing credit evaluations of its customers and maintaining adequate allowances for potential credit losses.
Emerging Growth Company Status and Recently Issued Accounting Pronouncements Not Yet Adopted	Emerging Growth Company Status The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these condensed consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. Recently Issued Accounting Pronouncements Not Yet Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (“Topic 842”), which supersedes the guidance in ASC 840, Leases . The new standard, as amended by subsequent ASUs on Topic 842 and recent extensions issued by the FASB in response to COVID-19, requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The Company plans to adopt this standard using the modified retrospective approach with a cumulative effect adjustment to retained earnings at the beginning of the period of adoption. The Company will also adopt certain practical expedients provided by Topic 842. As a result of the Company having elected the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act, and assuming the Company continues to be considered an Emerging Growth Company, Topic 842 will be effective for the Company on January 1, 2022. The Company is currently assessing its inventory of leases but has not yet determined the full effects of Topic 842 on its consolidated financial statements but does expect the adoption of Topic 842 will have a material impact on the Company’s consolidated financial statements and related notes to the recognition of right of use (“ROU”) assets and lease liabilities on the Company’s consolidated balance sheets, but it will not have a material impact on the Company’s consolidated statement of income. The adoption of Topic 842 will also result in enhanced disclosures. In June 2016, the FASB issued ASU 2016-13 , Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments which has been subsequently amended (“ASU 2016-13”). ASU 2016-13 revises the measurement of credit losses for most financial instruments measured at amortized cost, including trade receivables, from an incurred loss methodology to an expected loss methodology which results in earlier recognition of credit losses. Under the incurred loss model, a loss is not recognized until it is probable that the loss-causing event has already occurred. The new standard introduces a forward-looking expected credit loss model that requires an estimate of the expected credit losses over the life of the instrument by considering all relevant information including historical experience, current conditions, and reasonable and supportable forecasts that affect collectability. In addition, this standard also modifies the impairment model for available-for-sale debt securities, which are measured at fair value, by eliminating the consideration for the length of time fair value has been less than amortized cost when assessing credit loss for a debt security and provides for reversals of credit losses through income upon credit improvement. As a result of the Company having elected the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act, and assuming the Company continues to be considered an Emerging Growth Company, ASU 2016-13, will be effective for the Company on January 1, 2023, with early adoption permitted. The Company is currently assessing the impact of adopting this standard on its consolidated financial statements and disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018-15”). The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This new standard also requires customers to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement. This ASU is effective for years beginning after December 15, 2020, and interim period within annual periods beginning after December 15, 2021, with early adoption permitted. The Company has not yet determined the potential effects of this ASU on its consolidated financial statements. In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to the Related Party Guidance for Variable Interest Entities . ASU 2018-17 changes how entities evaluate decision-making fees under the variable interest entity guidance. To determine whether decision-making fees represent a variable interest, an entity considers indirect interests held through related parties under common control on a proportional basis, rather than in their entirety. This guidance is effective for fiscal years, beginning after December 15, 2020 and interim periods within fiscal years beginning after December 15, 2021, with early adoption permitted. All entities are required to apply the amendments in this ASU retrospectively with a cumulative-effect adjustment to retained earnings at the beginning of the earliest period presented. The Company is currently evaluating the impact this standard will have on its consolidated financial statements and disclosures. In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) - Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which simplifies the accounting for convertible instruments, amends the guidance on derivative scope exceptions for contracts in an entity’s own equity, and modifies the guidance on diluted earnings per share calculation as a result of these changes. The standard is effective for the Company for annual reporting periods beginning after December 15, 2023. The Company is currently evaluating the impact the adoption of this standard may have on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) (“Update 2020-04”) , for facilitation of the effects of reference rate reform on financial reporting. This update provides optional guidance for a limited period of time to help ease the potential burden in accounting for, or recognizing the effects of, reference rate reform on financial reporting. The amendments in the guidance provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate form if certain criteria are met. The amendments apply to contracts, hedging relationships, and other transactions that reference London inter-bank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. When elected, the optional expedients for contract modifications are applied consistently for all eligible contracts or eligible transactions within the relevant areas of GAAP. This guidance was effective upon issuance and may generally be applied through December 31, 2022. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848) to clarify that certain optional expedients and exceptions apply to modification of derivative contracts and certain hedging relationships affected by changes in the interest rates used for discounting cash flows, computing variation margin settlements, and for calculating price alignment interest. ASU 2021-01 is effective beginning on January 7, 2021 and may be applied retrospectively or prospectively to such transactions through December 31, 2022. We are currently evaluating our contracts and we do not expect that the adoption of this guidance will have a material impact on our consolidated financial statements and disclosures.

Organization and Significant _3

Organization and Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Revenue by Geographic Areas and Segment	The following tables summarize the revenue by segment and region for the periods presented (in thousands): For the three months ended March 31, 2021 Nucleic Acid Biologics Protein Total North America $ 68,132 $ 6,412 $ 3,752 $ 78,296 Europe, the Middle East and Africa 47,898 4,349 1,468 53,715 Asia Pacific 7,885 6,735 1,360 15,980 Latin and Central America 17 153 50 220 Total revenue $ 123,932 $ 17,649 $ 6,630 $ 148,211 For the three months ended March 31, 2020 Nucleic Acid Biologics Protein Total North America $ 24,869 $ 5,125 $ 3,429 $ 33,423 Europe, the Middle East and Africa 2,049 3,541 1,622 7,212 Asia Pacific 3,558 5,562 1,107 10,227 Latin and Central America 13 66 40 119 Total revenue $ 30,489 $ 14,294 $ 6,198 $ 50,981
Disaggregation of Revenue	The following table provides a disaggregation of revenue based on the pattern of revenue recognition (in thousands): For the three months ended March 31, 2021 2020 Revenue recognized at a point in time $ 136,231 $ 49,775 Revenue recognized over time 11,980 1,206 Total revenue $ 148,211 $ 50,981
Summary of Concentration of Revenue	The following table summarizes revenue from each of our customers who individually accounted for 10% or more of our total revenue or accounts receivable for the periods presented: Revenue Accounts Receivable, net For the three months ended March 31, March 31, 2021 December 31, 2020 2021 2020 BioNTech SE 22.2 % * 32.9 % * Pfizer, Inc. 29.2 % * 34.3 % 45.1 % Sanofi * 26.0 % * * CureVac * * * 12.8 % *Less than 10%

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill	The following is the Company’s goodwill by segment (in thousands): Nucleic Acid Biologics Protein Total March 31, 2021 $ 32,838 $ 119,928 $ 71,509 $ 224,275 December 31, 2020 $ 32,838 $ 119,928 $ 71,509 $ 224,275
Components of Finite-Lived Intangible Assets	The components of finite-lived intangible assets and accumulated amortization are as follows: As of March 31, 2021 Gross Accumulated Net Estimated Weighted (in thousands) (in years) (in years) Trade Names $ 11,490 $ 5,700 $ 5,790 5 - 15 6.1 Patents and Developed Technology 169,404 55,952 113,452 5 - 14 9.2 Customer Relationships 83,323 29,949 53,374 10-14 8.6 Total $ 264,217 $ 91,601 $ 172,616 8.9 As of December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Estimated Useful Life Weighted Average Remaining Amortization Period (in thousands) (in years) (in years) Trade Names $ 11,490 $ 5,384 $ 6,106 5 - 15 6.3 Patents and Developed Technology 169,404 52,809 116,595 5 - 14 9.5 Customer Relationships 83,323 28,368 54,955 10 - 14 8.8 Total $ 264,217 $ 86,561 $ 177,656 9.1
Schedule of Finite-Lived Intangible Assets Future Amortization Expense	As of March 31, 2021, the estimated future amortization expense for finite-lived intangible assets is as follows (in thousands): 2021 (remaining nine months) $ 15,039 2022 19,428 2023 19,230 2024 19,230 2025 19,230 Thereafter 80,459 Total estimated amortization expense $ 172,616

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Summary of Inventory	Inventory consists of the following (in thousands): March 31, 2021 December 31, 2020 Raw materials $ 20,190 $ 11,112 Work in process 19,897 18,333 Finished goods 7,042 3,856 Total inventory $ 47,129 $ 33,301

Lease Commitments (Tables)

Lease Commitments (Tables)	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments for Capital Leases	As of March 31, 2021, minimum annual payments under the Company’s non-cancelable lease agreements and lease financing obligations were follows (in thousands): Lease Facility Financing Obligations Operating Leases 2021 (remaining nine months) $ 3,223 $ 2,112 2022 4,648 3,062 2023 5,014 1,336 2024 5,109 1,371 2025 5,071 1,104 2026 and beyond 24,272 5,286 Total minimum payments 47,337 14,271 Less: amount representing interest (26,970) Present value of future minimum lease payments 20,367 Residual value of lease facility financing obligation 36,563 Less: short-term lease facility financing obligations (1,006) Long-term lease facility financing obligations $ 55,924
Schedule of Future Minimum Rental Payments for Operating Leases	As of March 31, 2021, minimum annual payments under the Company’s non-cancelable lease agreements and lease financing obligations were follows (in thousands): Lease Facility Financing Obligations Operating Leases 2021 (remaining nine months) $ 3,223 $ 2,112 2022 4,648 3,062 2023 5,014 1,336 2024 5,109 1,371 2025 5,071 1,104 2026 and beyond 24,272 5,286 Total minimum payments 47,337 14,271 Less: amount representing interest (26,970) Present value of future minimum lease payments 20,367 Residual value of lease facility financing obligation 36,563 Less: short-term lease facility financing obligations (1,006) Long-term lease facility financing obligations $ 55,924

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Summary of Long-Term Debt	The Company’s long-term debt consisted of the following (in thousands): March 31, 2021 December 31, 2020 New First Lien Term Loan $ 548,500 $ 550,000 Unamortized debt issuance costs (14,907) (15,386) Total long-term debt 533,593 534,614 Less: current portion (6,000) (6,000) Total long-term debt, less current portion $ 527,593 $ 528,614
Schedule of Maturities of Long-Term Debt	As of March 31, 2021, the aggregate future principal maturities of the Company’s debt obligations for each of the next five years, based on contractual due dates, were as follows (in thousands): 2021 (remaining nine months) $ 4,500 2022 6,000 2023 6,000 2024 6,000 2025 6,000 Thereafter 520,000 Total long-term debt $ 548,500

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense	The following table sets forth the total equity-based compensation expense included in the Company’s consolidated statements of income (in thousands): For the three months ended March 31 2021 2020 Cost of sales $ 510 $ 4 Research and development 87 80 Selling, general and administrative 1,681 424 Total equity-based compensation $ 2,278 $ 508

Net Income Per Class A Common_2

Net Income Per Class A Common Share/Unit Attributable to Maravai LifeSciences Holdings, Inc (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	For the three months ended March 31, 2021 2020 (in thousands, except share and unit amounts and per share and per unit amounts) Net income per Class A common share/unit: Numerator—basic: Net income $75,852 $ 23,879 Less: preferred unit dividends attributable to the MLSC non-controlling interests — (1,530) Less: income attributable to common non-controlling interests (52,605) (21) Net income attributable to Maravai LifeSciences Holdings, Inc.—basic $23,247 $ 22,328 Numerator—diluted: Net income attributable to Maravai LifeSciences Holdings, Inc.—basic 23,247 22,328 Net income effect of dilutive securities: Effect of dilutive employee stock purchase plan ("ESPP") and restricted stock units 4 — Net income attributable to Maravai LifeSciences Holdings, Inc.—diluted $23,251 $22,328 Denominator—basic: Weighted average Class A common shares/units outstanding—basic (1) 96,646,515 253,916,941 Net income per Class A common share/unit—basic $0.24 $0.09 Denominator—diluted: Weighted average Class A common shares/units outstanding—basic (1) 96,646,515 253,916,941 Weighted average effect of dilutive securities: Effect of dilutive restricted stock units 17,481 — Effect of dilutive ESPP 8,972 — Weighted average Class A common shares/units outstanding—diluted (1) 96,672,968 253,916,941 Net income per Class A common share/unit—diluted $0.24 $0.09 ____________________ (1) Amounts for the three months ended March 31, 2021 represent shares of Class A common stock outstanding. Amounts for the three months ended March 31, 2020 represent Topco LLC units outstanding.
Summary of Dilutive Securities Excluded from Computation of Earnings Per Share	The following table presents potentially dilutive securities excluded from the computation of diluted net income per share/unit for the periods presented because their effect would have been anti-dilutive: For the three months ended March 31 2021 2020 Time-based incentive units — 1,140 Performance-based incentive units — 2,849 Stock options 1,587 — Shares of Class B common stock 160,974 — 162,562 3,989

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The following table summarizes our income tax expense (in thousands, except percentages): Three months ended March 31, 2021 2020 Income before provision for income taxes $ 89,561 $ 27,514 Provision for income taxes $ 13,709 $ 3,635 Effective tax rate 15.3 % 13.2 %

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Summary of Segment Reporting Information	Following is financial information relating to the operating segments (in thousands): For the three months ended March 31, 2021 Nucleic Acid Biologics Protein Corporate Eliminations Total Revenue $ 124,169 $ 17,649 $ 6,630 $ — $ (237) $ 148,211 Adjusted EBITDA $ 95,613 $ 14,330 $ 2,267 $ (10,336) $ 58 $ 101,932 For the three months ended March 31, 2020 Nucleic Acid Biologics Protein Corporate Eliminations Total Revenue $ 30,892 $ 14,293 $ 6,198 $ — $ (402) $ 50,981 Adjusted EBITDA $ 18,830 $ 11,940 $ 3,293 $ (4,288) $ (224) $ 29,551
Reconciliation of Revenue	A reconciliation of Adjusted EBITDA to net income, the most directly comparable GAAP measure, is set forth below (in thousands): For the three months ended March 31, 2021 2020 Net income $ 75,852 $ 23,879 Add: Amortization 5,041 5,075 Depreciation 1,854 1,691 Interest expense 8,770 7,382 Income tax expense 13,709 3,635 EBITDA 105,226 41,662 Acquisition integration costs (811) 689 Acquired in-process research and development costs — 2,881 Equity-based compensation 2,278 508 GTCR management fees — 211 Gain on sale and leaseback transaction — (19,002) Merger and acquisition related expenses 919 902 Financing costs 206 1,700 Tax receivable agreement liability adjustment (5,886) — Adjusted EBITDA $ 101,932 $ 29,551

Organization and Significant _4

Organization and Significant Accounting Policies - Description of Business (Details)	3 Months Ended
	Mar. 31, 2021segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	3

Organization and Significant _5

Organization and Significant Accounting Policies - IPO (Details) - IPO $ / shares in Units, $ in Billions	1 Months Ended
	Nov. 30, 2020USD ($)$ / sharesshares
Class of Stock [Line Items]
Issuance of stock (in shares) | shares	69,000,000
Stock issued price (in usd per share) | $ / shares	$ 27
Proceeds from issuance of stock | $	$ 1.8

Organization and Significant _6

Organization and Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Contract assets	$ 1	$ 0.2
Contract liabilities	$ 120.7	$ 79.2

Organization and Significant _7

Organization and Significant Accounting Policies - Geographical Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 148,211	$ 50,981
North America
Disaggregation of Revenue [Line Items]
Revenue	78,296	33,423
Europe, the Middle East and Africa
Disaggregation of Revenue [Line Items]
Revenue	53,715	7,212
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue	15,980	10,227
Latin and Central America
Disaggregation of Revenue [Line Items]
Revenue	220	119
Nucleic Acid Production
Disaggregation of Revenue [Line Items]
Revenue	123,932	30,489
Nucleic Acid Production | North America
Disaggregation of Revenue [Line Items]
Revenue	68,132	24,869
Nucleic Acid Production | Europe, the Middle East and Africa
Disaggregation of Revenue [Line Items]
Revenue	47,898	2,049
Nucleic Acid Production | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue	7,885	3,558
Nucleic Acid Production | Latin and Central America
Disaggregation of Revenue [Line Items]
Revenue	17	13
Biologics Safety Testing
Disaggregation of Revenue [Line Items]
Revenue	17,649	14,294
Biologics Safety Testing | North America
Disaggregation of Revenue [Line Items]
Revenue	6,412	5,125
Biologics Safety Testing | Europe, the Middle East and Africa
Disaggregation of Revenue [Line Items]
Revenue	4,349	3,541
Biologics Safety Testing | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue	6,735	5,562
Biologics Safety Testing | Latin and Central America
Disaggregation of Revenue [Line Items]
Revenue	153	66
Protein Detection
Disaggregation of Revenue [Line Items]
Revenue	6,630	6,198
Protein Detection | North America
Disaggregation of Revenue [Line Items]
Revenue	3,752	3,429
Protein Detection | Europe, the Middle East and Africa
Disaggregation of Revenue [Line Items]
Revenue	1,468	1,622
Protein Detection | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue	1,360	1,107
Protein Detection | Latin and Central America
Disaggregation of Revenue [Line Items]
Revenue	$ 50	$ 40

Organization and Significant _8

Organization and Significant Accounting Policies - Revenue Based on Pattern of Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 148,211	$ 50,981
Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Revenue	136,231	49,775
Revenue recognized over time
Disaggregation of Revenue [Line Items]
Revenue	$ 11,980	$ 1,206

Organization and Significant _9

Organization and Significant Accounting Policies - Non-Controlling Interests (Details) - USD ($)	1 Months Ended	3 Months Ended
	Nov. 30, 2020	Mar. 31, 2021	Mar. 31, 2020	Oct. 31, 2020
MLSC
Noncontrolling Interest [Line Items]
Ownership percent by noncontrolling interest				30.00%
Topco LLC
Noncontrolling Interest [Line Items]
Ownership percent by parent	38.00%
Topco LLC | Tax Distribution
Noncontrolling Interest [Line Items]
Tax distributions paid		$ 37,000,000
Topco LLC | MLSC
Noncontrolling Interest [Line Items]
Ownership percent by parent				70.00%
Purchase of non-controlling interests	$ 166,400,000
Topco LLC | MLSH 1 | Tax Distribution
Noncontrolling Interest [Line Items]
Tax distributions paid		$ 23,100,000	$ 0
MLSH 1 | Topco LLC
Noncontrolling Interest [Line Items]
Ownership percent by noncontrolling interest	62.00%

Organization and Significant_10

Organization and Significant Accounting Policies - Segment Information (Details)	3 Months Ended
	Mar. 31, 2021segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Organization and Significant_11

Organization and Significant Accounting Policies - Concentration Risk (Details) - Customer Concentration Risk	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Revenue | BioNTech SE
Product Information [Line Items]
Concentration risk	22.20%
Revenue | Pfizer, Inc.
Product Information [Line Items]
Concentration risk	29.20%
Revenue | Sanofi
Product Information [Line Items]
Concentration risk		26.00%
Accounts Receivable, net | BioNTech SE
Product Information [Line Items]
Concentration risk	32.90%
Accounts Receivable, net | Pfizer, Inc.
Product Information [Line Items]
Concentration risk	34.30%		45.10%
Accounts Receivable, net | CureVac
Product Information [Line Items]
Concentration risk			12.80%

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)reportingUnit	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 224,275		$ 224,275
Number of reporting units | reportingUnit	4
Amortization of intangible assets	$ 5,040	$ 5,075
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	5 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	15 years
Selling, general and administrative
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 1,900	1,900
Cost of sales
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	3,100	$ 3,100
Nucleic Acid Production
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 32,838		$ 32,838
Number of reporting units | reportingUnit	2

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summary of Segment's Goodwill (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 224,275	$ 224,275
Nucleic Acid Production
Finite-Lived Intangible Assets [Line Items]
Goodwill	32,838	32,838
Biologics Safety Testing
Finite-Lived Intangible Assets [Line Items]
Goodwill	119,928	119,928
Protein Detection
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 71,509	$ 71,509

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Components of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 264,217	$ 264,217
Accumulated Amortization	91,601	86,561
Intangible assets, net	$ 172,616	$ 177,656
Weighted Average Remaining Amortization Period	8 years 10 months 24 days	9 years 1 month 6 days
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Min)	5 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Min)	15 years
Trade Names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 11,490	$ 11,490
Accumulated Amortization	5,700	5,384
Intangible assets, net	$ 5,790	$ 6,106
Weighted Average Remaining Amortization Period	6 years 1 month 6 days	6 years 3 months 18 days
Trade Names | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Min)	5 years	5 years
Trade Names | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Min)	15 years	15 years
Patents and Developed Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 169,404	$ 169,404
Accumulated Amortization	55,952	52,809
Intangible assets, net	$ 113,452	$ 116,595
Weighted Average Remaining Amortization Period	9 years 2 months 12 days	9 years 6 months
Patents and Developed Technology | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Min)	5 years	5 years
Patents and Developed Technology | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Min)	14 years	14 years
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 83,323	$ 83,323
Accumulated Amortization	29,949	28,368
Intangible assets, net	$ 53,374	$ 54,955
Weighted Average Remaining Amortization Period	8 years 7 months 6 days	8 years 9 months 18 days
Customer Relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Min)	10 years	10 years
Customer Relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Min)	14 years	14 years

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Expected Amortization of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2021 (remaining nine months)	$ 15,039
2022	19,428
2023	19,230
2024	19,230
2025	19,230
Thereafter	80,459
Intangible assets, net	$ 172,616	$ 177,656

Balance Sheet Components - Inve

Balance Sheet Components - Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 20,190	$ 11,112
Work in process	19,897	18,333
Finished goods	7,042	3,856
Inventory	$ 47,129	$ 33,301

Lease Commitments (Details)

Lease Commitments (Details) $ in Thousands	1 Months Ended		3 Months Ended
	Aug. 31, 2020USD ($)	Jan. 31, 2020USD ($)	Mar. 31, 2021USD ($)segment	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jul. 31, 2018USD ($)
Lessee, Lease, Description [Line Items]
Facilities leased | segment			4
Rent expense, net			$ 1,000	$ 800
Deferred gain			0	19,002
Sale of facility		$ 34,500
Deferred gain				3,100
Payments on lease obligations			141	36
Minimum lease payments, 2021			1,200
Minimum lease payments, 2022			1,800
Burlingame, California
Lessee, Lease, Description [Line Items]
Initial term		2 years 6 months
Deferred gain			300	400
Lease obligations due		$ 3,300
Deferred gain		$ 3,100
Lease extension term	six-month
Increase in lease obligations	$ 1,800
Unamortized deferred gain	$ 2,000
San Diego Facility Lease
Lessee, Lease, Description [Line Items]
Rent expense, net			200
Building asset and improvements recorded upon sale-leaseback transaction							$ 59,000
Financing lease obligation						$ 57,100	51,200
Reimbursed costs for improvements							$ 8,000
Tenant improvements						$ 2,700
Construction in progress					$ 20,400
Accrued expenses					1,700
Tenant improvement amount earned			2,000
Payments on lease obligations			1,000	600
Prepaid Expenses and Other Current Assets | San Diego Facility Lease
Lessee, Lease, Description [Line Items]
Tenant improvement allowance					2,000
Construction in Progress | San Diego Facility Lease
Lessee, Lease, Description [Line Items]
Tenant improvement allowance					$ 700
Building, Leasehold Improvements, And Equipment
Lessee, Lease, Description [Line Items]
Cost reclassified from construction in progress into buildings, leasehold improvements, and equipment			$ 21,000
Leaseholds and Leasehold Improvements | Southport Facility
Lessee, Lease, Description [Line Items]
Useful life			35 years
Construction in Progress
Lessee, Lease, Description [Line Items]
Cost reclassified from construction in progress into buildings, leasehold improvements, and equipment			$ (21,000)
Multiple 5 year renewal term
Lessee, Lease, Description [Line Items]
Renewal term			5 years
Three year renewal term
Lessee, Lease, Description [Line Items]
Renewal term			3 years
Five year renewal term
Lessee, Lease, Description [Line Items]
Renewal term			5 years
January 2020 lease agreement | Burlingame, California
Lessee, Lease, Description [Line Items]
Deferred gain				$ 19,000
Minimum
Lessee, Lease, Description [Line Items]
Initial term			2 years
Maximum
Lessee, Lease, Description [Line Items]
Initial term			12 years

Lease Commitments - Maturity of

Lease Commitments - Maturity of Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Lease Facility Financing Obligations
2021 (remaining nine months)	$ 3,223
2022	4,648
2023	5,014
2024	5,109
2025	5,071
2026 and beyond	24,272
Total minimum payments	47,337
Less: amount representing interest	(26,970)
Present value of future minimum lease payments	20,367
Residual value of lease facility financing obligation	36,563
Less: short-term lease facility financing obligations	(1,006)
Lease facility financing obligation, less current portion	55,924	$ 56,167
Operating Leases
2021 (remaining nine months)	2,112
2022	3,062
2023	1,336
2024	1,371
2025	1,104
2026 and beyond	5,286
Total minimum payments	$ 14,271

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	1 Months Ended
	Nov. 30, 2020	Mar. 31, 2021	Dec. 31, 2020	Oct. 31, 2020
Debt Instrument [Line Items]
Long-term debt		$ 533,593,000	$ 534,614,000	$ 400,000,000
Repayments of lines of credit	$ 50,000,000
Interest Rate Cap
Debt Instrument [Line Items]
Derivative, notional amount		415,000,000
Derivative asset, noncurrent		300,000
New Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				780,000,000
New Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding line of credit		$ 0	$ 0
New Credit Agreement | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				180,000,000
New Credit Agreement | Letter of Credit | Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				20,000,000
New Credit Agreement | Secured Debt | Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 600,000,000
Debt interest rate		5.25%

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Oct. 31, 2020
Debt Disclosure [Abstract]
New First Lien Term Loan	$ 548,500	$ 550,000
Unamortized debt issuance costs	(14,907)	(15,386)
Total long-term debt	533,593	534,614	$ 400,000
Less: current portion	(6,000)	(6,000)
Long-term debt, less current portion	$ 527,593	$ 528,614

Long-Term Debt - Maturities of

Long-Term Debt - Maturities of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2021 (remaining nine months)	$ 4,500
2022	6,000
2023	6,000
2024	6,000
2025	6,000
Thereafter	520,000
Long-term debt, gross	$ 548,500	$ 550,000

Equity-Based Compensation - Sto

Equity-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total equity-based compensation	$ 2,278	$ 508
Cost of sales
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total equity-based compensation	510	4
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total equity-based compensation	87	80
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total equity-based compensation	$ 1,681	$ 424

Equity-Based Compensation (Deta

Equity-Based Compensation (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)shares
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Options exercised in period (in shares) | shares	0
Options exercisable (in shares) | shares	0
Unrecognized share-based compensation cost related to unvested stock option awards	$ 21.6
Incentive units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized share-based compensation cost related to unvested incentive units and restricted stock units	$ 2.9
Expected period for recognition	2 years 3 months 18 days
Restricted Stock Units (RSUs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized share-based compensation cost related to unvested incentive units and restricted stock units	$ 1.7
Expected period for recognition	2 years 7 months 6 days
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Expected period for recognition	3 years 8 months 12 days

Net Income Per Class A Common_3

Net Income Per Class A Common Share/Unit Attributable to Maravai LifeSciences Holdings, Inc (Details) - shares	1 Months Ended	3 Months Ended
	Nov. 30, 2020	Mar. 31, 2021
Class of Stock [Line Items]
Preferred units annual cumulative dividend		8.00%
Preferred units additional annual dividend		4.00%
IPO
Class of Stock [Line Items]
Issuance of stock (in shares)	69,000,000

Net Income Per Class A Common_4

Net Income Per Class A Common Share/Unit Attributable to Maravai LifeSciences Holdings, Inc - Summary of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator—basic:
Net income	$ 75,852	$ 23,879
Less: preferred unit dividends attributable to the MLSC non-controlling interests	0	(1,530)
Less: income attributable to common non-controlling interests	(52,605)	(21)
Net income attributable to Maravai LifeSciences Holdings, Inc.—basic	23,247	22,328
Numerator—diluted:
Net income attributable to Maravai LifeSciences Holdings, Inc.—basic	23,247	22,328
Net income effect of dilutive securities:
Effect of dilutive employee stock purchase plan ("ESPP") and restricted stock units	4	0
Net income attributable to Maravai LifeSciences Holdings, Inc.—diluted	$ 23,251	$ 22,328
Denominator—basic:
Weighted average Class A common shares/units outstanding—basic (in shares)	96,646,515	253,916,941
Net income per Class A common share/unit—basic (in usd per share)	$ 0.24	$ 0.09
Denominator—diluted:
Weighted average Class A common shares/units outstanding—basic (in shares)	96,646,515	253,916,941
Weighted average effect of dilutive securities:
Weighted average Class A common shares/units outstanding—diluted (in shares)	96,672,968	253,916,941
Net income per Class A common share/unit - diluted (in usd per share)	$ 0.24	$ 0.09
Restricted Stock Units (RSUs)
Weighted average effect of dilutive securities:
Effect of dilutive restricted stock units (in shares)	17,481	0
Employee Stock
Weighted average effect of dilutive securities:
Effect of dilutive restricted stock units (in shares)	8,972	0

Net Income Per Class A Common_5

Net Income Per Class A Common Share/Unit Attributable to Maravai LifeSciences Holdings, Inc - Summary of Dilutive Securities Excluded (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of net income per share (in shares)	162,562,000	3,989,000
Time-based incentive units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of net income per share (in shares)	0	1,140,000
Performance-based incentive units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of net income per share (in shares)	0	2,849,000
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of net income per share (in shares)	1,587,000	0
Class B Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of net income per share (in shares)	160,974,000	0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Examination [Line Items]
Effective tax rate	15.30%	13.20%
Assumed income tax rate	46.70%
Assumed income tax rate when business income deduction is unavailable	54.10%
Tax distribution payable	$ 0
Topco LLC | Tax Distribution
Income Tax Examination [Line Items]
Tax distributions paid	37
Topco LLC | Maravai LifeSciences Holdings, Inc | Tax Distribution
Income Tax Examination [Line Items]
Tax distributions paid	$ 13.9

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income before provision for income taxes	$ 89,561	$ 27,514
Provision for income taxes	$ 13,709	$ 3,635
Effective tax rate	15.30%	13.20%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Distribution	$ 23,128,000
Percentage of tax benefits paid	85.00%
Liability payable to related party	$ 383,700,000
Gain on tax receivable agreement	5,886,000	$ 0
Current portion of payable to related parties pursuant to Tax Receivable Agreement	1,298,000		$ 0
Advisory Services Agreement, Quarterly Management Fee | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction amounts	100,000
Advisory Services Agreement, Management Fees | Affiliated Entity
Related Party Transaction [Line Items]
Related party costs		100,000
Lease Payments | Affiliated Entity
Related Party Transaction [Line Items]
Related party costs		$ 100,000
Tax Receivable Agreement, Payments | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction amounts	$ 0

Segments (Details)

Segments (Details)	3 Months Ended
	Mar. 31, 2021USD ($)segment	Mar. 31, 2020USD ($)
Segment Reporting, Revenue Reconciling Item [Line Items]
Number of reportable segments | segment	3
Number of operating segments | segment	3
Revenue	$ (148,211,000)	$ (50,981,000)
Intersegment Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	237,000	402,000
Commission expense	$ 0	$ 0

Segments - Reconciliation of Re

Segments - Reconciliation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 148,211	$ 50,981
Adjusted EBITDA	101,932	29,551
Nucleic Acid Production
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	123,932	30,489
Biologics Safety Testing
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	17,649	14,294
Protein Detection
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	6,630	6,198
Operating Segments | Nucleic Acid Production
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	124,169	30,892
Adjusted EBITDA	95,613	18,830
Operating Segments | Biologics Safety Testing
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	17,649	14,293
Adjusted EBITDA	14,330	11,940
Operating Segments | Protein Detection
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	6,630	6,198
Adjusted EBITDA	2,267	3,293
Corporate, Non-Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	0	0
Adjusted EBITDA	(10,336)	(4,288)
Intersegment Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	(237)	(402)
Adjusted EBITDA	$ 58	$ (224)

Segments - Reconciliation of Ad

Segments - Reconciliation of Adjusted EBITDA to Net Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting [Abstract]
Net income	$ 75,852	$ 23,879
Amortization	5,041	5,075
Depreciation expense	1,854	1,691
Interest expense	8,770	7,382
Income tax expense	13,709	3,635
EBITDA	105,226	41,662
Acquisition integration costs	(811)	689
Acquired and in-process research and development costs	0	2,881
Equity-based compensation	2,278	508
GTCR management fees	0	211
Gain on sale and leaseback transaction	0	(19,002)
Merger and acquisition related expenses	919	902
Financing costs	206	1,700
Tax receivable agreement liability adjustment	(5,886)	0
Adjusted EBITDA	$ 101,932	$ 29,551

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event	Apr. 12, 2021USD ($)$ / sharesshares
Secondary Offering
Subsequent Event [Line Items]
Issuance of stock (in shares)	20,700,000
Proceeds from issuance of stock | $	$ 0
Conversion of LLC units to common stock (in shares)	17,665,959
Secondary Offering | MLSH 1
Subsequent Event [Line Items]
Proceeds from issuance of stock | $	$ 646,900,000
Over-Allotment Option
Subsequent Event [Line Items]
Issuance of stock (in shares)	2,700,000
Stock issued price (in usd per share) | $ / shares	$ 31.25