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Dec 31, 2022
Maxcyte Q4 2022 Earnings Report
Maxcyte's fourth quarter and full year results were announced, showing revenue increase in Q4 and FY 2022, and provided initial 2023 revenue guidance.
Key Takeaways
MaxCyte reported a 22% increase in total revenue for the fourth quarter of 2022, reaching $12.4 million. Core business revenues grew by 4%, driven by cell therapy and drug discovery customer growth. The company's SPL program-related revenue was $1.9 million. MaxCyte provided initial 2023 revenue guidance, expecting total revenue growth of 21% to 26% over 2022.
Total revenue increased by 22% to $12.4 million in Q4 2022 compared to Q4 2021.
Core business revenues grew by 4% in Q4 2022, with cell therapy and drug discovery revenues increasing by 4% and 5%, respectively.
Ended the year with 18 SPL partnerships, with the addition of partnerships with Intima Bioscience, LG Chem, and Curamys in 2022.
Gross profit for the fourth quarter of 2022 was $10.9 million (88% gross margin), compared to $8.9 million (88% gross margin) in the fourth quarter of 2021.
Maxcyte
Maxcyte
Maxcyte Revenue by Segment
Revenue by Segment
Program-Related Revenue
CapyFin.com Forward Guidance
MaxCyte anticipates total revenue growth of 21% to 26% over 2022, including core business revenue growth of 20% to 25% and SPL program-related revenue of approximately $6 million for the full year 2023.