MaxCyte(US:MXCT)2025-11-05 22:24Financial Performance - Core business revenue for Q3 2025 was $6.4 million, a 21% decrease from $8.1 million in Q3 2024[5] - Total revenue for Q3 2025 was $6.8 million, down 16% from $8.2 million in Q3 2024[5] - Gross margin for Q3 2025 was $5.2 million, representing a 77% gross margin; Non-GAAP adjusted gross margin was 81%[5] - 2025 revenue guidance for core business revenue is expected to be flat to a 10% decline compared to 2024[10] - SPL Program-related revenue is projected to be approximately $5 million for the year[10] Client and Market Development - The company added one new Strategic Platform License (SPL) client, bringing the total number of SPL agreements to 32[5] - The installed base of instruments increased to 830 in Q3 2025, up from 739 in Q3 2024[7] - Core revenue generated by SPL clients accounted for 53% of total core revenue in both Q3 2025 and Q3 2024[7] Financial Position - Cash, cash equivalents, and investments totaled $158.0 million as of September 30, 2025[5] Operational Changes - The company is undergoing an operational restructuring, which is expected to impact near-term cash utilization[8]