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MaxCyte (MXCT) investor relations material
MaxCyte Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue was $8.5M, down 18% year-over-year, mainly due to lower SPL/program-related revenue, while core revenue grew 8% to $8.2M, driven by strong instrument sales.
Net loss for the quarter was $12.4M, compared to $9.4M last year; SeQure Dx acquisition expanded offerings and contributed $0.3M in revenue and $1.9M in net loss.
Three new SPL agreements were signed in 2025, bringing the total to 31 SPL clients and maintaining 18 active clinical programs.
Integration of SeQure Dx is progressing well, with robust project bookings and a sales pipeline more than double last year.
Portfolio includes 14 SPL clients, 18 active clinical programs, and 1 commercial program, supporting durable revenue streams.
Financial highlights
Total Q2 revenue was $8.5M, down 18% year-over-year; core revenue grew 8% to $8.2M; SPL program-related revenue was $0.3M, down from $2.9M.
Gross margin was 82% (non-GAAP adjusted 83%), down from 86% last year.
Operating expenses were $21.2M, slightly up from $20.9M year-over-year.
Net loss per share was $(0.12), compared to $(0.09) last year.
Cash, equivalents, and investments were $165.2M at quarter end, with no debt.
Outlook and guidance
2025 core business revenue is expected to be flat to down 10% ($29.5M–$32.5M), including SeQure Dx revenue; previous guidance was 8–15% growth.
SPL program-related revenue guidance reiterated at ~$5M for 2025.
SecureDX revenue expected to be at least $2M for the year, weighted to the second half.
Year-end 2025 cash and investments projected at ~$155M.
Confident in achieving profitability without additional capital.
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