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MXCT

MaxCyte, Inc.

MXCT

MaxCyte, Inc. • NASDAQ
$1.76 ▲ 0.57% (+0.01)
Market Cap $187.75 M
52w High $5.20
52w Low $1.26
Dividend Yield 0%
P/E -4.09
Volume 244.99K
Outstanding Shares 106.67M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.829M ▼ $16.885M ▼ $-12.416M ▼ -181.813% ▼ $-0.12 $-11.568M ▲
Q2-2025 $8.507M ▼ $21.215M ▲ $-12.357M ▼ -145.257% ▼ $-0.12 ▼ $-12.93M ▼
Q1-2025 $10.39M ▲ $21.188M ▲ $-10.261M ▲ -98.758% ▲ $-0.1 $-11.018M ▲
Q4-2024 $8.693M ▲ $19.313M ▼ $-10.597M ▲ -121.903% ▲ $-0.1 ▲ $-11.369M ▲
Q3-2024 $8.164M $20.289M $-11.557M -141.561% $-0.11 $-12.987M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $105.728M ▼ $213.476M ▼ $33.201M ▲ $180.275M ▼
Q2-2025 $126.562M ▼ $219.75M ▼ $29.027M ▼ $190.723M ▼
Q1-2025 $138.27M ▼ $229.961M ▼ $30.549M ▼ $199.412M ▼
Q4-2024 $154.482M ▲ $239.47M ▼ $33.219M ▼ $206.251M ▼
Q3-2024 $153.832M $248.612M $35.31M $213.302M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-12.416M ▼ $-7.458M ▲ $5.192M ▲ $14K ▼ $-2.252M ▲ $-7.758M ▲
Q2-2025 $-12.357M ▼ $-9.852M ▲ $1.538M ▼ $154K ▼ $-8.16M ▼ $-10.436M ▲
Q1-2025 $-10.261M ▲ $-14.411M ▼ $9.529M ▲ $383K ▼ $-4.499M ▲ $-15.064M ▼
Q4-2024 $-10.597M ▲ $-7.821M ▼ $-1.665M ▼ $412K ▲ $-9.074M ▼ $-7.968M ▼
Q3-2024 $-11.557M $-4.391M $3.608M $228K $-555K $-4.797M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
License
License
 $0 ▲$0 ▲$0 ▲$0 ▲
Product
Product
 $20.00M ▲$10.00M ▼$10.00M ▲$0 ▼
Product and Service Other
Product and Service Other
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been growing only modestly over the past few years, while costs have increased more noticeably. The company still generates healthy gross margins on what it sells, but spending on research, commercialization, and overhead has kept operating results in the red. Losses have widened compared with a few years ago and earnings per share remain negative. In simple terms, the business is still in a build‑out and investment phase rather than a profit‑generating phase, and it has not yet shown a clear turn toward profitability in the reported period.

Balance Sheet

Balance Sheet The balance sheet shows a solid asset and equity base relative to the company’s size, helped by capital raised around the IPO, and only modest use of debt. Cash remains meaningful but has trended down from earlier levels, reflecting ongoing losses and investment. Overall leverage looks low, which reduces financial risk, but the company’s ability to keep funding its strategy over time will depend on how it manages its remaining cash and any future financing needs if losses persist.

Cash Flow

Cash Flow Cash flow from day‑to‑day operations has been consistently negative, and free cash flow has also been negative for several years. Capital spending is not very heavy, so the main driver of cash burn appears to be operating losses rather than big one‑time investments. This pattern is typical for a growth and R&D‑driven life sciences tools company, but it means the business is currently consuming cash rather than generating it. Sustained progress toward either higher revenue scale or tighter cost control will be important for improving the cash picture over time.

Competitive Edge

Competitive Edge MaxCyte occupies a focused, enabling role in the fast‑growing cell and gene therapy ecosystem. Its core electroporation platform is well regarded for flexibility, scalability, and non‑viral delivery, and it is embedded in customer workflows through a “platform plus disposables” model that can create sticky relationships and recurring revenue. Strategic platform licenses with leading biotech and pharma players, including programs tied to high‑profile gene‑editing therapies, support the idea of a meaningful niche and high switching costs. At the same time, the company competes against much larger life‑science tools firms, faces rapid technology evolution, and depends heavily on the success and pace of its partners’ therapy pipelines, which introduces both concentration and execution risk.

Innovation and R&D

Innovation and R&D The company’s story is heavily innovation‑driven: its Flow Electroporation and ExPERT systems address a key technical bottleneck in cell and gene therapy, and the acquisition of SeQure DX broadens its offering into gene‑editing safety and analytics. R&D spending is a major use of resources and a core reason for current losses, but it also underpins the platform’s differentiation and long‑term royalty potential. Continued expansion of strategic licenses, deeper integration of SeQure DX, and traction in newer areas like off‑the‑shelf cell therapies are important signals for whether this innovation engine is translating into commercial momentum. There is also ongoing technology risk, as alternative delivery methods or competing platforms could erode its edge if it does not keep advancing.

Summary

MaxCyte is a platform technology company in a high‑growth therapeutic area, with strong scientific underpinnings, meaningful intellectual property, and a business model that can generate recurring and potential royalty revenues if partner programs succeed. Financially, it remains a loss‑making, cash‑consuming enterprise that has yet to show a firm path to profitability, relying on a previously strengthened balance sheet and disciplined cash management to support its strategy. The main opportunity lies in the long‑term success and scaling of its partners’ cell and gene therapies; the main risks are continued operating losses, dependence on external program outcomes and regulatory progress, and intense, fast‑moving competition in life‑science tools and gene‑editing technologies.

NEWS

November 12, 2025 · 4:08 PM UTC

MaxCyte Announces Planned CFO Transition in 2026

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November 12, 2025 · 4:05 PM UTC

MaxCyte Reports Third Quarter 2025 Financial Results and Reiterates Full Year 2025 Revenue Guidance

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November 5, 2025 · 8:05 AM UTC

MaxCyte Reports Preliminary Third Quarter 2025 Financial Results and Reiterates Full Year 2025 Revenue Guidance

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October 8, 2025 · 8:05 AM UTC

MaxCyte to Report Third Quarter 2025 Financial Results on November 5, 2025

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October 6, 2025 · 8:05 AM UTC

MaxCyte Announces Strategic Platform License Agreement with Moonlight Bio to Advance T Cell Therapies for Solid Tumors

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