MXCT

MKT CAP:$92M

MaxCyte, Inc.

Market Cap

$92M

Healthcare·Medical - Devices·🇺🇸 United States·NASDAQ

Healthcare·Medical - Devices·🇺🇸·NASDAQ

Stock Price

$0.87-$0.68 (-43.86%)

Apr 21, 2026

Company Details

MaxCyte, Inc., a global life sciences company, engages in the discovery, development, and commercialization of next-generation cell therapies. Its products include ExPERT ATx, a static electroporation instrument for small to medium scale tr...

CEO

Maher Masoud

IPO Date

Jul 30, 2021

Website

maxcyte.com

Key Metrics TTM

Revenue

$33M

-14.5% YoY

Net Income

-$45M

EPS (Diluted)

-$0.43

Free Cash Flow

-$36M

Revenue / Share

$0.31

Gross Margin

68.4%

Operating Margin

-131.9%

Net Margin

-135.1%

FCF Margin

-109.5%

P/S

2.8x

P/E

—

Earnings Reports

Q1 2026

May 13, 2026

PENDING

FY 2025

Mar 25, 2026

$33M-14.5%EPS -$0.42

Q4 2025

Mar 25, 2026

$7M-16.0%EPS -$0.09

Q3 2025

Nov 13, 2025

$7M-16.4%EPS -$0.12

Q2 2025

Aug 6, 2025

$9M-18.4%EPS -$0.12

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$12M	$11M	-$4M
Q2 22	$10M	$8M	-$9M
Q3 22	$11M	$9M	-$8M
Q4 22	$12M	$11M	-$7M
Q1 23	$9M	$8M	-$13M
Q2 23	$9M	$8M	-$13M
Q3 23	$8M	$7M	-$14M
Q4 23	$16M	$14M	-$8M
Q1 24	$11M	$10M	-$12M
Q2 24	$10M	$9M	-$12M
Q3 24	$8M	$6M	-$14M
Q4 24	$9M	$6M	-$13M
Q1 25	$10M	$9M	-$12M
Q2 25	$9M	$7M	-$14M
Q3 25	$7M	$6M	-$11M
Q4 25	$7M	$384.0K	-$6M

Valuation

Quarter	P/S	P/E
Q1 22	17.9x	—
Q2 22	12.1x	—
Q3 22	17.0x	—
Q4 22	11.9x	—
Q1 23	12.0x	—
Q2 23	11.3x	—
Q3 23	8.2x	—
Q4 23	11.6x	—
Q1 24	9.9x	—
Q2 24	8.8x	—
Q3 24	8.9x	—
Q4 24	11.2x	—
Q1 25	7.6x	—
Q2 25	6.5x	—
Q3 25	4.6x	—
Q4 25	5.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$4M	-$10M
Q2 22	$918.6K	-$6M
Q3 22	-$6M	-$9M
Q4 22	-$6M	-$8M
Q1 23	-$4M	-$6M
Q2 23	-$10M	-$11M
Q3 23	-$8M	-$9M
Q4 23	$981.7K	$66.9K
Q1 24	-$11M	-$11M
Q2 24	-$5M	-$5M
Q3 24	-$4M	-$5M
Q4 24	-$8M	-$8M
Q1 25	-$14M	-$15M
Q2 25	-$10M	-$10M
Q3 25	-$7M	-$8M
Q4 25	-$3M	-$3M

Capital Expenditures

Quarter	CapEx
Q1 22	$6M
Q2 22	$7M
Q3 22	$3M
Q4 22	$2M
Q1 23	$2M
Q2 23	$507.0K
Q3 23	$720.0K
Q4 23	$914.8K
Q1 24	$804.0K
Q2 24	$294.0K
Q3 24	$406.0K
Q4 24	$147.0K
Q1 25	$653.0K
Q2 25	$584.0K
Q3 25	$300.0K
Q4 25	$231.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+78.4%	+22.4%
Q2 22	+35.2%	+59.2%
Q3 22	+5.0%	+45.9%
Q4 22	+22.4%	+26.9%
Q1 23	-26.0%	+38.2%
Q2 23	-5.9%	+20.5%
Q3 23	-24.8%	+19.6%
Q4 23	+26.1%	+23.9%
Q1 24	+32.3%	+8.6%
Q2 24	+15.3%	+1.3%
Q3 24	+2.0%	+1.2%
Q4 24	-44.5%	-9.1%
Q1 25	-8.4%	-3.9%
Q2 25	-18.4%	+1.5%
Q3 25	-16.4%	-21.7%
Q4 25	-16.0%	-36.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$2M	21.3%
Q2 22	$3M	30.9%
Q3 22	$0	0.0%
Q4 22	$3M	25.1%
Q1 23	$3M	38.2%
Q2 23	$0	0.0%
Q3 23	$4M	45.1%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$3M	29.2%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$706.0K	9.7%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$4M	$7M	$4M
Q2 22	$5M	$7M	$5M
Q3 22	$5M	$6M	$5M
Q4 22	$6M	$6M	$5M
Q1 23	$6M	$7M	$6M
Q2 23	$6M	$8M	$6M
Q3 23	$6M	$7M	$7M
Q4 23	$6M	$8M	$7M
Q1 24	$7M	$7M	$7M
Q2 24	$6M	$8M	$7M
Q3 24	$5M	$8M	$6M
Q4 24	$5M	$7M	$6M
Q1 25	$6M	$9M	$6M
Q2 25	$6M	$8M	$6M
Q3 25	$5M	$6M	$4M
Q4 25	$3M	$5M	$4M

Revenue Segments

Quarter	License	Product
Q1 25	$5M	$5M
Q2 25	$3M	$5M

Revenue by Geography

Quarter	Non-US	United States
Q1 25	$2M	$8M
Q2 25	$3M	$5M
Q3 25	$3M	$4M
Q4 25	$3M	$4M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$240M	$6M	$246M
Q2 22	$109M	$132M	$241M
Q3 22	$43M	$190M	$233M
Q4 22	$11M	$216M	$227M
Q1 23	$38M	$187M	$225M
Q2 23	$55M	$162M	$216M
Q3 23	$49M	$141M	$190M
Q4 23	$47M	$122M	$168M
Q1 24	$22M	$135M	$158M
Q2 24	$38M	$120M	$157M
Q3 24	$37M	$117M	$154M
Q4 24	$28M	$127M	$154M
Q1 25	$23M	$115M	$138M
Q2 25	$15M	$111M	$127M
Q3 25	$13M	$93M	$106M
Q4 25	$20M	$83M	$103M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	101M	+0.5%	+25.1%
Q2 22	101M	+0.1%	+19.7%
Q3 22	102M	+0.4%	+6.4%
Q4 22	102M	+0.3%	+1.3%
Q1 23	103M	+0.7%	+1.5%
Q2 23	103M	+0.2%	+1.6%
Q3 23	103M	+0.4%	+1.6%
Q4 23	104M	+0.2%	+1.5%
Q1 24	104M	+0.4%	+1.2%
Q2 24	105M	+0.5%	+1.5%
Q3 24	105M	+0.4%	+1.6%
Q4 24	105M	-0.2%	+1.1%
Q1 25	106M	+1.1%	+1.8%
Q2 25	106M	+0.4%	+1.7%
Q3 25	106M	-0.1%	+1.2%
Q4 25	106M	+0.1%	+1.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$137.9K	84
Q2 22	$114.4K	84
Q3 22	$126.7K	84
Q4 22	$99.4K	125
Q1 23	$68.6K	125
Q2 23	$72.3K	125
Q3 23	$64.0K	125
Q4 23	$109.5K	143
Q1 24	$79.3K	143
Q2 24	$72.9K	143
Q3 24	$57.1K	143
Q4 24	$76.3K	114
Q1 25	$91.1K	114
Q2 25	$74.6K	114
Q3 25	$59.9K	114
Q4 25	$80.2K	91

Revenue / Employee