Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Caution evidenceCoverage 5/5 core metricsLatest reported annual revenue changed -28.3% from the prior reported annual observation.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Revenue contracted
Latest reported annual revenue changed -28.3% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- Operating margin compressed
Operating margin changed -25.0 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
- Free cash flow was negative
Latest reported free cash flow was -$71M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
- 3 filing risk checks flagged
Flagged areas: Solvency & liquidity, Dilution.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Solvency & liquidity
- Dilution
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Tri Link Segment$120M64.5%-39.0% yoy
- Cygnus Segment$66M35.5%+5.0% yoy
Members sum to the consolidated $186M for this period.
- North America$112Mshare n/a-11.6% yoy
- United States$111Mshare n/a-10.3% yoy
- Asia Pacific$41.5Mshare n/a-53.6% yoy
- EMEA$30.9Mshare n/a-26.5% yoy
- Latin And Central America$971Kshare n/a+46.7% yoy
member sum exceeds the consolidated figure: this axis carries more than one breakdown, so shares are not computed.
- Nucleic Acid Production Segment$47.5M72.1%+65.1% yoy
- Biologics Safety Testing Segment$18.4M27.9%+1.4% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,007 US-listed filers · 781 in Materials| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $186M | 33rdof 3,301 bottom third | 52ndof 522 middle third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | -28.3% | 5thof 3,137 bottom third | 12thof 473 bottom third |
Gross margin gross profit ÷ revenue | 18.3% | 19thof 1,603 bottom third | 25thof 221 bottom third |
Operating margin operating income ÷ revenue | -115.9% | 15thof 2,819 bottom third | 40thof 483 middle third |
Net margin net income ÷ revenue | -70.4% | 16thof 3,263 bottom third | 40thof 518 middle third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | -38.1% | 17thof 2,679 bottom third | 39thof 433 middle third |
Return on equity net income ÷ stockholders' equity (positive equity only) | -61.6% | 16thof 3,576 bottom third | 36thof 701 middle third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 16.3% | 19thof 2,895 bottom third | 39thof 476 middle third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 50 days | 49thof 2,398 middle third | 54thof 387 middle third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -8.2% | 73rdof 2,382 top third | 67thof 385 top third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | -20.7% | 88thof 2,004 top third | 79thof 328 top third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 20 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Operating income OperatingIncomeLoss | quarter 2024-06-30 | -$9.51M 10-Q 2024-08-08 | -$13.4M 10-Q 2025-08-11 | -41.3% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2024-06-30 | -$7.58M 10-Q 2024-08-08 | -$9.79M 10-Q 2025-08-11 | -29.1% | first · latest · 3 filings carry it |
| Capital expenditure PaymentsToAcquirePropertyPlantAndEquipment | quarter 2025-03-31 | $5.24M 10-Q 2025-05-12 | $4.5M 10-Q 2026-05-08 | -14.0% | first · latest |
| Interest expense InterestExpense | quarter 2021-06-30 | $8.51M 10-Q 2021-08-11 | $7.65M 10-Q 2022-08-05 | -10.1% | first · latest |
| Receivables AccountsReceivableNetCurrent | balance at 2024-06-30 | $38.7M 10-Q 2024-08-08 | $34.7M 10-K 2025-03-18 | -10.1% | first · latest |
| Interest expense InterestExpense | quarter 2021-09-30 | $8.54M 10-Q 2021-11-15 | $7.68M 10-Q 2022-11-04 | -10.1% | first · latest |
| Interest expense InterestExpense | quarter 2021-03-31 | $8.77M 10-Q 2021-05-12 | $7.9M 10-Q 2022-05-06 | -9.9% | first · latest |
| Capital expenditure PaymentsToAcquirePropertyPlantAndEquipment | quarter 2021-03-31 | $3.58M 10-Q 2021-05-12 | $3.33M 10-Q 2022-05-06 | -6.9% | first · latest |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2024-09-30 | $65.2M 10-Q 2024-11-12 | $69M 10-Q 2025-11-07 | +5.9% | first · latest · 3 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2024-06-30 | $73.4M 10-Q 2024-08-08 | $69.4M 10-Q 2025-08-11 | -5.4% | first · latest · 3 filings carry it |
| Deferred revenue (current) ContractWithCustomerLiabilityCurrent | balance at 2024-09-30 | $1.83M 10-Q 2024-11-12 | $1.9M 10-K 2025-03-18 | +3.7% | first · latest |
| Deferred revenue (current) ContractWithCustomerLiabilityCurrent | balance at 2024-06-30 | $2.08M 10-Q 2024-08-08 | $2.15M 10-K 2025-03-18 | +3.3% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2024-09-30 | -$169M 10-Q 2024-11-12 | -$166M 10-Q 2025-11-07 | +2.1% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2024-09-30 | -$99M 10-Q 2024-11-12 | -$97.1M 10-Q 2025-11-07 | +2.0% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2021-03-31 | $92.4M 10-Q 2021-05-12 | $91.2M 10-Q 2022-05-06 | -1.4% | first · latest |
| Operating cash flow NetCashProvidedByUsedInOperatingActivities | quarter 2021-03-31 | $38.7M 10-Q 2021-05-12 | $38.3M 10-Q 2022-05-06 | -1.0% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2021-09-30 | $157M 10-Q 2021-11-15 | $155M 10-Q 2022-11-04 | -0.9% | first · latest |
| Net income NetIncomeLoss | quarter 2021-03-31 | $23.2M 10-Q 2021-05-12 | $23.1M 10-Q 2022-05-06 | -0.6% | first · latest |
| Net income NetIncomeLoss | quarter 2021-09-30 | $54.3M 10-Q 2021-11-15 | $54M 10-Q 2022-11-04 | -0.6% | first · latest |
| Stockholders' equity StockholdersEquity | balance at 2024-06-30 | $437M 10-Q 2024-08-08 | $435M 10-K 2025-03-18 | -0.5% | first · latest |
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for MRVI yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.