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Jun 30
Maxcyte Q2 2025 Earnings Report
MaxCyte reported its second quarter 2025 financial results, showing a decrease in total revenue but growth in core business revenue, and updated its full year 2025 guidance.
Key Takeaways
MaxCyte's total revenue for Q2 2025 decreased by 18% year-over-year to $8.5 million, primarily due to a significant drop in SPL Program-related revenue. However, core business revenue saw an 8% increase to $8.2 million. The company reported a net loss of $12.4 million and updated its full-year 2025 guidance, lowering revenue expectations due to evolving operating environments.
Total revenue for Q2 2025 was $8.5 million, an 18% decrease compared to Q2 2024.
Core business revenue increased by 8% to $8.2 million in Q2 2025.
Net loss for the second quarter of 2025 was $12.4 million, compared to a net loss of $9.4 million in the same period last year.
MaxCyte added two new SPL clients in July, bringing the total number of SPL agreements to 31.
Maxcyte
Maxcyte
Maxcyte Revenue by Segment
Revenue by Segment
Instruments Revenue
CapyFin.comPAs and consumables Revenue
CapyFin.comLicenses Revenue
CapyFin.comAssay services Revenue
CapyFin.comOther Revenue
CapyFin.comProgram-Related Revenue
CapyFin.com Forward Guidance
MaxCyte updated its full-year 2025 guidance, lowering revenue expectations for both core business and SPL Program-related revenue, and adjusted its expected cash, cash equivalents, and investments.
Positive Outlook
- Continued confidence in the cell and gene therapy industry opportunity.
- Commitment to prudent spending and investment in product enhancements and SeQure Dx.
- Confidence in achieving profitability with existing capital through improving operational efficiencies, multiple product offerings, and maturing clinical programs of customers.
- Strong pipeline of potential SPLs, demonstrated by two new SPLs recently announced.
- Expected to end 2025 with at least $155 million in total cash, cash equivalents and investments.
Challenges Ahead
- Core revenue is expected to be flat to a 10% decline compared to 2024.
- SPL Program-related revenue is expected to be approximately $5 million for the year, a significant reduction from previous periods.
- Operating environment has evolved, impacting expectations for the second half of 2025.
- Guidance lowered to account for customer inventory management.
- Guidance lowered due to some reprioritization and consolidation of customer pipelines.
Revenue & Expenses
Visualization of income flow from segment revenue to net income