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Jun 30, 2022
Maxcyte Q2 2022 Earnings Report
MaxCyte's second quarter results were reported, showcasing revenue growth and strategic advancements.
Key Takeaways
MaxCyte reported a 35% increase in total revenue for Q2 2022, driven by a 45% growth in core business revenues and a 61% increase in revenue from cell therapy customers. The company is raising its 2022 core revenue growth guidance to approximately 30% and expects SPL Program-related revenue to be approximately $4 million for the full year.
Total revenue increased by 35% to $9.6 million in Q2 2022, with core business revenues growing by 45%.
Revenue from cell therapy customers increased by 61%, while drug discovery revenues grew by 4%.
2022 revenue guidance for core business revenue growth raised to approximately 30%.
Total cash, cash equivalents, and short-term investments amounted to $240.9 million as of June 30, 2022.
Revenue by Segment
Forward Guidance
MaxCyte anticipates core business revenue growth of approximately 30% in 2022 and expects SPL Program-related revenue to be approximately $4 million for the full year.
Positive Outlook
- Core business revenue is expected to grow by approximately 30% in 2022.
- SPL Program-related revenue is projected to be approximately $4 million for the full year.
- The ExPERT platform continues to be used to enable a broad range of cell types and approaches.
- Adoption of the ExPERT platform is increasing within the industry.
- Ongoing investments are expected to drive revenue growth and support the widening array of applications for the technology.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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