MAXCYTE, INC.

Listed Company

MXCTCIK 0001287098NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthServices-Commercial Physical & Biological ResearchDelawareFY ends Dec 31

Period

FY 2025

Revenue

$33.03M

Net Income

$-44.63M

Total Assets

$202.51M

Equity

$171.49M

Shares Out

106.86M

Op. Cash Flow

$-34.41M

Business

MAXCYTE, INC. is a commercial cell engineering company providing a proprietary Flow Electroporation® platform to enable discovery, development and commercialization of next‑generation cell and gene therapies and cell‑based research. It offers the ExPERT family of instruments (ATx, STx, GTx, VLx), proprietary processing assemblies (PAs), consumables such as electroporation buffers, and assay and editing‑assessment services acquired via SeQure. Key business activities comprise instrument and consumable sales, research/clinical/SPL licensing agreements and services supporting regulatory filings and process development. The company sells directly in North America, the U.K. and Europe and uses third‑party distributors in Asia and other regions to serve biopharmaceutical, biotechnology, academic and government research customers globally.

Summary from filing dated 2025-03-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	33	39	41	44	34
Cost of goods sold	6	7	5	5	4
Gross profit	27	32	37	39	30
Research and development	21	22	24	20	15
Sales and marketing	19	27	27	19	13
General and administrative	28	30	30	26	19
Restructuring expense	3	—	—	—	—
Goodwill impairment	4	—	—	—	—
Depreciation and amortization	4	4	4	3	1
Total operating expenses	79	83	85	67	48
Operating loss	−52	−51	−48	−27	−18
Interest income	7	10	10	4	150,800
Total other income	7	10	10	4	−893,600
Loss before income taxes	−45	−41	−38	—	—
Provision for income taxes	—	—	—	—	—
Net loss	−45	−41	−38	−24	−19
Basic net loss per share	−0.42	−0.39	−0.37	−0.23	−0.21
Diluted net loss per share	−0.42	−0.39	−0.37	−0.23	−0.21
Weighted-average shares outstanding, basic	106	105	103	102	91
Weighted-average shares outstanding, diluted	106	105	103	102	91

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	20	28	47	11	48
Short-term investments, at amortized cost	83	127	122	216	207
Accounts receivable, net	4	5	6	11	7
Inventory	8	9	12	9	5
Prepaid expenses and other current assets	4	4	4	3	3
Total current assets	118	172	190	252	270
Investments, non-current, at amortized cost	53	36	43	—	—
Property and equipment, net	18	20	24	24	8
Right-of-use asset - operating leases	11	11	11	10	6
Intangible assets, net	650,000	—	—	—	—
Other assets	2	2	388,000	809,000	316,700
Total assets	203	239	268	287	284
Accounts payable	1	1	743,000	292,000	2
Accrued expenses and other	8	8	11	8	7
Operating lease liability, current	1	864,000	774,000	157,000	527,200
Deferred revenue, current portion	4	5	5	7	7
Total current liabilities	14	16	18	15	16
Operating lease liability, net of current portion	16	17	18	16	5
Other liabilities	263,000	274,000	283,000	1	450,200
Total liabilities	31	33	36	33	21
Commitments and contingencies (Note 8)	—	—	—	—	—
Preferred stock, $0.01 par value; 5,000,000 shares authorized and no shares issued and outstanding at December 31, 2025 and December 31, 2024	—	—	—	—	—
Common stock, $0.01 par value; 400,000,000 shares authorized, 106,789,618 and 105,711,093 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	1	1	1	1	1
Additional paid-in capital	432	422	407	391	376
Accumulated deficit	−261	−217	−176	−138	−114
Total stockholders' equity	171	206	232	254	263
Total liabilities and stockholders' equity	203	239	268	287	284

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−45	−41	−38	−24	−19
Depreciation and amortization	4	4	4	3	1
Lease right-of-use asset amortization	802,000	475,000	395,000	767,000	—
Net book value of consigned equipment sold	83,000	63,000	94,000	76,000	51,600
Loss on disposal of property and equipment	287,000	861,000	30,000	139,000	32,500
Stock-based compensation	9	13	14	12	8
Credit loss expense (recovery)	35,000	−130,000	171,000	—	—
Change in excess/obsolete inventory reserve	676,000	2	697,000	—	—
Amortization of discounts on investments	−3	−6	−7	−3	−70,300
Accounts receivable	1	1	5	−5	−2
Inventory	575,000	1	−5	−3	−1
Prepaid expense and other current assets	−531,000	293,000	−641,000	320,000	−2
Other assets	−724,000	−1	421,000	−492,000	−282,800
Accounts payable, accrued expenses and other	−4	−2	3	−150,000	2
Operating lease liability	−1	−709,000	−133,000	5	4
Deferred revenue	−2	182,000	−2	−34,000	2
Other liabilities	−36,000	−9,000	−39,000	871,000	−73,500
Net cash used in operating activities	−34	−28	−22	−15	−11
Purchases of investments	−126	−151	−255	—	—
Maturities of investments	156	159	314	—	—
Purchases of property and equipment	−2	−2	−4	−18	−4
Acquisition of business, net of cash acquired of $541	−2	—	—	—	—
Net cash provided by investing activities	26	7	55	−25	−195
Proceeds from exercise of stock options	432,000	2	2	3	4
Proceeds from issuance of common stock under employee stock purchase plan	224,000	459,000	269,000	—	—
Net cash provided by financing activities	656,000	2	2	3	235
Net decrease in cash and cash equivalents	−8	−19	35	−37	29
Property and equipment purchases included in accounts payable and accrued expenses	33,000	97,000	566,000	363,000	296,400
Right-of-use assets obtain in business combination by assumption of lease liabilities	956,000	—	2	5	5

Filings

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