MaxCyte(MXCT) - 2025 Q1 - Quarterly Results

Revenue Performance - Core business revenue for Q1 2025 was $8.2 million, a 1% increase compared to Q1 2024[4] - Total revenue for Q1 2025 was $10.4 million, representing an 8% decrease from $11.3 million in Q1 2024[7] - SPL Program-related revenue was $2.1 million in Q1 2025, down 32% from $3.2 million in Q1 2024[8] - Total revenue for Q1 2025 was $10,390, a decrease of 8.4% compared to $11,342 in Q1 2024[26] Profitability - Gross profit for Q1 2025 was $8.9 million, with a gross margin of 86%, compared to 88% in Q1 2024[8] - Operating loss for Q1 2025 was $12,295, slightly higher than the loss of $12,275 in Q1 2024[26] - Net loss for Q1 2025 was $10.3 million, compared to a net loss of $9.5 million in Q1 2024[10] - Net loss for Q1 2025 was $10,261, compared to a net loss of $9,526 in Q1 2024, reflecting an increase of 7.7%[26] Expenses - Operating expenses for Q1 2025 were $21.2 million, a decrease from $22.2 million in Q1 2024[9] - Research and development expenses for Q1 2025 were $5,903, down from $6,678 in Q1 2024, indicating a decrease of 11.5%[26] Cash and Assets - Total cash, cash equivalents, and investments were $174.7 million as of March 31, 2025[4] - Cash and cash equivalents at the end of Q1 2025 were $23,385, down from $27,884 at the end of Q4 2024[28] - Total current assets decreased to $155,748 in Q1 2025 from $171,684 in Q4 2024, a decline of 9.3%[24] - Total liabilities decreased to $30,549 in Q1 2025 from $33,219 in Q4 2024, a reduction of 8.0%[24] Future Outlook - MaxCyte expects core revenue to grow by 8% to 15% in 2025, including revenue from SeQure Dx[15] - The integration of SeQure Dx is progressing smoothly, presenting substantial long-term opportunities[3] Shareholder Information - Weighted average shares outstanding increased to 105,950,480 in Q1 2025 from 104,089,758 in Q1 2024[26] Active SPLs - The total number of active SPLs increased to 29 with the addition of TG Therapeutics in February 2025[4] Cash Flow - The company reported a net cash used in operating activities of $14,411 for Q1 2025, compared to $10,564 in Q1 2024, an increase of 36.0%[28]