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Sep 30, 2023
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Maxcyte Q3 2023 Earnings Report
Revenue decreased due to customers reprioritizing spend, offset by SPL program revenue growth.
Key Takeaways
MaxCyte reported a decrease in total revenue for Q3 2023, primarily due to a decline in core business revenue, although SPL Program-related revenue increased. The company is addressing industry challenges and focusing on targeted investments to support the cell and gene therapy market.
Total revenue was $8.0 million, a 25% decrease compared to Q3 2022.
Core business revenue was $6.6 million, a 33% decrease compared to Q3 2022.
SPL Program-related revenue was $1.4 million, compared to $0.8 million in Q3 2022.
Gross profit was $7.2 million with a 90% gross margin, compared to $9.3 million with an 87% gross margin in Q3 2022.
Maxcyte
Maxcyte
Maxcyte Revenue by Segment
Revenue by Segment
Program-Related Revenue
CapyFin.com Forward Guidance
MaxCyte expects total revenue to be approximately $34-$36 million, core revenue to be approximately $28-$30 million, and SPL Program-related revenue to be approximately $6 million for the year.