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Dec 30, 2024
Maxcyte Q4 2024 Earnings Report
MaxCyte reported its fourth quarter and full year 2024 financial results, showing a decrease in total revenue but an increase in core business revenue for the quarter.
Key Takeaways
MaxCyte's total revenue for Q4 2024 decreased by 45% to $8.7 million compared to Q4 2023, primarily due to one-time approval milestones in the prior year. However, core business revenue increased by 20% to $8.6 million. The company ended the year with $190.3 million in cash, cash equivalents, and investments.
Total revenue for Q4 2024 was $8.7 million, a 45% decrease from Q4 2023, attributed to one-time approval milestones in the previous year.
Core business revenue for Q4 2024 increased by 20% to $8.6 million compared to Q4 2023.
Strategic Platform License (SPL) Program-related revenue was $0.1 million in Q4 2024, a significant decrease from $8.5 million in Q4 2023.
The company ended 2024 with 28 active SPL agreements, including 18 active clinical programs and 1 active commercial program, and total cash, cash equivalents, and investments of $190.3 million.
Revenue by Segment
Forward Guidance
MaxCyte is providing initial 2025 revenue guidance, expecting core revenue to grow and SPL Program-related revenue to be approximately $5 million.
Positive Outlook
- Core revenue is expected to grow 8% to 15% compared to 2024, inclusive of revenue from SeQure Dx.
- SPL Program-related revenue is expected to be approximately $5 million for the year.
- SPL-program related revenue guidance includes both expected revenue from pre-commercial milestone payments and commercial royalties/sales-based payments.
- MaxCyte expects to end 2025 with $160 million in total cash, cash equivalents and investments.
- Continued focus on driving strong commercial execution and supporting the progression of SPL programs through the clinic.
Challenges Ahead
- No specific negative guidance points were provided in the report for 2025.
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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