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Sep 30, 2022
Maxcyte Q3 2022 Earnings Report
MaxCyte reported a 5% increase in total revenue, driven by strong growth in cell therapy revenue.
Key Takeaways
MaxCyte, Inc. announced financial results for the third quarter ended September 30, 2022. Total revenue increased by 5% compared to the third quarter of 2021, with core business revenues growing by 22%. The company is reiterating its 2022 guidance for core business revenue growth to be approximately 30%.
Total revenue of $10.6 million in Q3 2022, a 5% increase year-over-year.
Core business revenues grew 22%, driven by a 27% increase in revenue from cell therapy customers and a 4% increase from drug discovery revenues.
Reiterating 2022 guidance for core business revenue growth of approximately 30%.
Total cash, cash equivalents, and short-term investments were $232.9 million as of September 30, 2022.
Maxcyte
Maxcyte
Maxcyte Revenue by Segment
Revenue by Segment
Program-Related Revenue
CapyFin.com Forward Guidance
MaxCyte expects core business revenue in 2022 to grow approximately 30% compared to 2021 and SPL Program-related revenue to be approximately $4.0 million in 2022.