MaxCyte, a cell-engineering company, has released its financial results for the fourth quarter and full year of 2024, along with its guidance for 2025. The company reported a total revenue of $8.7 million for the fourth quarter, a 45% decrease from the same period in 2023, due to one-time approval milestones. However, the core business revenue increased by 20% to $8.6 million. For the full year 2024, total revenue decreased by 6% to $38.6 million, while core business revenue increased by 9% to $32.5 million. MaxCyte ended the year with 28 active Strategic Platform License (SPL) agreements, including 18 active programs in the clinic and 1 commercial program. The companys total cash, cash equivalents, and investments as of December 31, 2024, were $190.3 million. For 2025, MaxCyte expects core revenue to grow by 8-15% and SPL Program-related revenue to be approximately $5 million. The company anticipates ending the year with $160 million in total cash and investments.
| Metric | Q4 2024 | Q4 2023 | Full Year 2024 | Full Year 2023 |
|---|---|---|---|---|
| Total Revenue | $8.7 million | $15.7 million | $38.6 million | $41.3 million |
| Core Business Revenue | $8.6 million | $7.2 million | $32.5 million | $29.8 million |
| SPL Program-related Revenue | $0.1 million | $8.5 million | $6.1 million | $11.5 million |
| Gross Profit | $6.4 million | $14.1 million | $31.5 million | $36.5 million |
| Operating Expenses | $19.3 million | $22.2 million | $82.7 million | $84.8 million |
| Net Loss | $10.6 million | $5.3 million | $41.1 million | $37.9 million |
| EBITDA | Loss of $11.8 million | Loss of $7.0 million | Loss of $46.9 million | Loss of $44.1 million |
| Total Cash, Cash Equivalents, and Investments | $190.3 million | N/A | $190.3 million | $211.2 million |