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Dec 31, 2023
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Maxcyte Q4 2023 Earnings Report
Reported a 26% increase in total revenue and a 359% increase in SPL Program-related revenue, but a 32% decrease in core business revenue.
Key Takeaways
MaxCyte reported a mixed performance for Q4 2023. Total revenue increased by 26% year-over-year, driven by a significant increase in Strategic Platform License (SPL) Program-related revenue. However, core business revenue declined by 32% compared to the same period in the previous year. The company's net loss was $5.3 million, slightly higher than the net loss of $4.8 million in Q4 2022.
Total revenue increased by 26% to $15.7 million compared to Q4 2022.
Core business revenue decreased by 32% to $7.2 million compared to Q4 2022.
SPL Program-related revenue increased significantly by 359% to $8.5 million compared to Q4 2022.
Net loss was $5.3 million, compared to a net loss of $4.8 million for the same period in 2022.
Revenue by Segment
Forward Guidance
Management is reiterating 2024 revenue guidance for core business revenue and SPL Program-related revenue. Management expects full year 2024 core business revenue to be flat to 5% growth compared to 2023, and SPL Program-related revenue is expected to be approximately $3 million. Our outlook for the full year does not include SPL Program-related revenue from Vertex/CRISPR’s CASGEVYTM and reflects a difficult year-over-year comparison from a client milestone recognized in 2023 that was initially expected in 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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