MaxCyte Announces Preliminary Unaudited Fourth Quarter and Full Year 2024 Financial Results

Core Insights - MaxCyte, Inc. provided a preliminary update on its financial results for Q4 and the full year 2024, indicating a positive outlook for the cell therapy industry as it moves into 2025 [1][4]. Financial Performance - Total cash, cash equivalents, and investments as of December 31, 2024, are expected to be approximately $190 million, a decrease from$211 million on December 31, 2023, but higher than the updated guidance of $185 million [3]. - Core revenue for Q4 2024 is expected to be between$8.3 million and $8.5 million, compared to$7.2 million in Q4 2023 [6]. - Core revenue for the full year 2024 is expected to be between $32.2 million and$32.4 million, representing an 8 to 9% growth compared to $29.8 million for fiscal year 2023 [6]. Business Developments - The company increased the number of SPL customers by six in 2024 and supported the commercial launch of the first non-viral gene-edited cell therapy product approved by the FDA [4]. - MaxCyte's ExPERT™ platform is designed to support the expanding cell therapy market, facilitating the discovery, development, and commercialization of next-generation cell-based medicines [5].