MaxCyte(US:MXCT) Globenewswire·2025-05-07 20:05Core Insights - MaxCyte, Inc. reported a solid start to 2025 with core revenue growth driven by strong performance in Strategic Platform Licenses (SPL) [3] - The company added one new SPL client, TG Therapeutics, in February 2025, bringing the total number of active SPLs to 29 [6][7] - The integration of SeQure Dx is progressing well, presenting substantial long-term opportunities in safety assessment services [3] Financial Performance - Core business revenue for Q1 2025 was $8.2 million, a 1% increase compared to Q1 2024 [6][7] - SPL Program-related revenue decreased to $2.1 million in Q1 2025 from $3.2 million in Q1 2024, marking a 32% decline [6][8] - Total revenue for Q1 2025 was $10.4 million, down 8% from $11.3 million in Q1 2024 [6][7] Profitability Metrics - Gross profit for Q1 2025 was $8.9 million, resulting in a gross margin of 86%, compared to 88% in Q1 2024 [8] - Operating expenses decreased to $21.2 million in Q1 2025 from $22.2 million in Q1 2024 [9] - The net loss for Q1 2025 was $10.3 million, compared to a net loss of $9.5 million in Q1 2024 [10] Cash Position and Guidance - As of March 31, 2025, total cash, cash equivalents, and investments were $174.7 million [6] - The company reiterated its 2025 revenue guidance, expecting core business revenue to grow by 8% to 15% compared to 2024 [11][15] - SPL Program-related revenue is projected to be approximately $5 million for the year [15]