Core Points - MaxCyte, Inc. announced that Chief Financial Officer Douglas Swirsky will transition from his role in the first half of 2026, with a structured search process initiated to find his successor [1][2] - Swirsky will remain in his position until a successor is appointed and will continue in an advisory role post-transition to support strategic initiatives [1][2] - The transition is not expected to impact the company's operations, financial reporting, or strategic priorities [2] Company Overview - MaxCyte is a leading cell-engineering company focused on advancing the discovery, development, and commercialization of next-generation cell therapies [3] - The company utilizes Flow Electroporation® technology and SeQure DX™ gene editing risk assessment services to enable precise and scalable cell engineering [3] - With over 25 years of experience, MaxCyte aims to empower researchers globally to develop safe and effective treatments for human health [3]

Core Insights - MaxCyte, Inc. reported a total revenue of $6.8 million for Q3 2025, a decrease of 16% compared to $8.2 million in Q3 2024 [5][6] - The company announced an operational restructuring aimed at reducing costs and accelerating profitability while maintaining long-term growth potential [3][6] - MaxCyte reiterated its 2025 revenue guidance, expecting total cash, cash equivalents, and investments to end the year between $152 million and $155 million [10][14] Financial Performance - Core business revenue for Q3 2025 was $6.4 million, down 21% from $8.1 million in Q3 2024 [7][8] - Gross profit for Q3 2025 was $5.2 million, reflecting a gross margin of 77%, compared to a gross margin of 76% in Q3 2024 [8][9] - The net loss for Q3 2025 was $12.4 million, compared to a net loss of $11.6 million in the same period of 2024 [9][26] Revenue Breakdown - Revenue from instruments was $1.4 million, down 22% from $1.8 million in Q3 2024 [4] - Revenue from PAs and consumables decreased by 25% to $2.6 million from $3.4 million [4] - Licenses revenue fell by 29% to $1.8 million from $2.5 million [4] Strategic Developments - The company signed its fourth Strategic Platform License (SPL) agreement of the year with Moonlight Bio, bringing the total number of SPL agreements to 32 [3][6] - MaxCyte is committed to investing in SeQure Dx and enhancing its product offerings while ensuring commercial discipline for sustainable growth [3][6] Key Metrics - The installed base of instruments increased to 830 as of September 30, 2025, up from 739 in the previous year [4] - Core revenue generated by SPL clients accounted for 53% of total core revenue, consistent with the previous year [4]

Core Insights - MaxCyte, Inc. announced preliminary results for Q3 2025, reporting total revenue of $6.8 million, a 16% decrease from $8.2 million in Q3 2024 [1][7] - The company reiterated its 2025 revenue guidance, expecting total cash, cash equivalents, and investments to be between $152 million and $155 million by year-end [10][15] Financial Performance - Core revenue for Q3 2025 was $6.4 million, down 21% from $8.1 million in Q3 2024 [6][7] - Revenue from Strategic Platform License (SPL) Program-related activities was $0.4 million, a significant increase of 1,663% compared to $24,000 in the same quarter of the previous year [6][7] - The gross margin for Q3 2025 was $5.2 million, representing a 77% gross margin, while the non-GAAP adjusted gross margin was 81% when excluding SPL Program-related revenue [7][21] Revenue Breakdown - Revenue sources for Q3 2025 included: - Instruments: $1.4 million (down 22%) - PAs and consumables: $2.6 million (down 25%) - Licenses: $1.8 million (down 29%) - Assay services: $248,000 (new revenue source) - Other: $402,000 (down 3%) [6][7] Client and Market Activity - The company added one new SPL client, Moonlight Bio, in October 2025, bringing the total number of SPL agreements to 32 [7] - The installed base of instruments increased to 830 units, up from 739 units in the previous year [9] Upcoming Events - Management will present at the Stifel Healthcare Conference on November 11, 2025, and the Stephens Investment Conference on November 19, 2025 [1][16]

Core Insights - MaxCyte, Inc. announced a restructuring plan aimed at aligning resources with strategic priorities, which includes a workforce reduction of approximately 34% and expected annualized savings of about $13.6 million [1][2][4] Financial Outlook - The company expects 2025 core revenue to be flat to down approximately 10% compared to 2024, with an anticipated $5 million in SPL program-related revenue for the full year [3] - Year-end cash, cash equivalents, and investments are projected to be at least $155 million [3] Strategic Initiatives - The workforce reduction is part of a broader initiative to reduce operating expenses, streamline the organizational structure, and accelerate the path toward profitability [2][4] - The CEO emphasized the importance of this decision for long-term success and indicated that further details on the financial impact and outlook for the remainder of 2025 will be provided in the upcoming third quarter earnings call [4]

Core Insights - MaxCyte has signed a strategic platform license agreement with Adicet Bio to utilize its Flow Electroporation® technology and ExPERT™ platform for developing gamma delta T cell therapies [1][2] - Adicet Bio aims to enhance its manufacturing capabilities for allogeneic gamma delta T cell therapies, which are designed for cancer and autoimmune diseases [3][4] Company Overview - MaxCyte is a leading cell-engineering company focused on advancing cell-based therapeutics through its Flow Electroporation® technology and ExPERT™ platform [5] - The company has over 25 years of experience in cell engineering, providing tools and services that support the development of safe and effective treatments [5] Agreement Details - The agreement grants Adicet Bio non-exclusive rights for research, clinical, and commercial use of MaxCyte's technologies, while MaxCyte will receive licensing fees and program-related revenue [2] - MaxCyte's ExPERT™ platform is noted for its high transfection efficiency, cell viability, and scalability, which are essential for developing next-generation cell therapies [4]

Company Overview - MaxCyte supports 19 clinical and commercial therapies and has 29 SPL customers[9] - The company reported $386 million in 2024 revenue with an 84% Non-GAAP adjusted gross margin[10] - MaxCyte has $190 million in cash and cash equivalents as of December 31, 2024[10] Cell and Gene Therapy Market - There are approximately 1,950 active clinical trials focused on cell and gene therapy as of December 2024[14] - The cell and gene therapy field raised an aggregate of $152 billion in 2024[14] - There are 44 approved cell and gene therapies[14] Strategic Platform Licenses (SPLs) - MaxCyte has 29 SPL customers, with 18 programs currently in clinical development and 1 commercial program[47] - These 18 active clinical programs represent over $220 million of pre-commercial milestone potential[47] - SPL Program-Related revenue accounted for 57% of Core revenue[68] Financial Performance - Total core revenue for the full year 2024 was $325 million, a 9% increase year-over-year[69] - Total revenue for the full year 2024 was $386 million, a 6% decrease year-over-year[69] - Non-GAAP adjusted gross margin was 84% for the full year 2024[69]

Core 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]