MaxCyte Reports Fourth Quarter and Full Year 2024 Financial Results
and Provides Full Year 2025 Guidance
ROCKVILLE, MD, March 11,
2025 — MaxCyte, Inc., (NASDAQ: MXCT; LSE: MXCT), a
leading, cell-engineering focused company providing enabling
platform technologies to advance the discovery, development and
commercialization of next-generation cell therapeutics, today
announced its fourth quarter and full year ended December 31, 2024
financial results and initiated its 2025 guidance.
Fourth Quarter and Full Year
Highlights
- Total revenue of
$8.7 million in the fourth quarter of 2024, a decrease of 45% over
the fourth quarter of 2023. The decrease in total revenue was due
to multiple one-time approval milestones in the fourth quarter of
2023.
- Core business
revenue of $8.6 million in the fourth quarter of 2024, an increase
of 20% over the fourth quarter of 2023.
- Strategic
Platform License (SPL) Program-related revenue was $0.1 million for
the fourth quarter of 2024, compared to $8.5 million in the fourth
quarter of 2023.
- Total revenue of
$38.6 million for the full year 2024, a decrease of 6% over the
full year 2023.
- Core business
revenue of $32.5 million for the full year 2024, an increase of 9%
over the full year 2023.
- SPL
Program-related revenue was $6.1 million for the full year 2024,
compared to $11.5 million in full year 2023.
- Ended the year
with 28 active SPL agreements that include 18 active programs
currently in the clinic (defined as programs with at least a
cleared IND or equivalent) and 1 active commercial program.
- Total cash, cash
equivalents and investments were $190.3 million as of December 31,
2024.
“We are pleased to report strong financial
results in 2024, including a return to core revenue growth and
disciplined cash management, driven by the execution of our team,”
said Maher Masoud, President and CEO of MaxCyte.
“We signed a record six SPLs in 2024 and continue to see momentum
in the SPL pipeline with the addition of TG Therapeutics early in
2025. We also implemented a more disciplined capital and
operational approach at MaxCyte, which has already enabled new
strategic initiatives, and a more efficient and streamlined
business, underpinning our commitment to long-term value creation
for our shareholders. In 2025, we will continue to drive strong
commercial execution, support the progression of SPL programs
through the clinic, and make disciplined investments to position
MaxCyte as a premier cell engineering solutions provider, including
the integration and growth of SeQure Dx.”
The following tables provide details regarding the sources of
our revenue for the periods presented.
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| |
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Three Months Ended |
|
|
|
Year Ended |
|
|
|
| |
December 31, |
|
|
|
December 31, |
|
|
|
| |
2024 |
|
2023 |
|
% |
|
2024 |
|
2023 |
|
% |
|
| |
(Unaudited) |
|
|
|
(Unaudited) |
|
|
|
|
|
|
| (in thousands,
except percentages) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Instrument |
$ |
1,629 |
|
$ |
2,330 |
|
(30%) |
|
$ |
7,083 |
|
$ |
8,317 |
|
(15%) |
|
| PAs and
consumables |
|
4,169 |
|
|
2,163 |
|
93% |
|
|
14,006 |
|
|
10,283 |
|
36% |
|
| Licenses |
|
2,554 |
|
|
2,406 |
|
6% |
|
|
10,297 |
|
|
10,326 |
|
(0%) |
|
| Other |
|
258 |
|
|
263 |
|
(2%) |
|
|
1,126 |
|
|
897 |
|
26% |
|
| Total Core
Revenue |
$ |
8,610 |
|
$ |
7,162 |
|
20% |
|
$ |
32,512 |
|
$ |
29,823 |
|
9% |
|
|
Program-Related |
|
83 |
|
|
8,504 |
|
(99%) |
|
|
6,115 |
|
|
11,465 |
|
(47%) |
|
| Total Revenue |
$ |
8,693 |
|
$ |
15,666 |
|
(45%) |
|
$ |
38,627 |
|
$ |
41,288 |
|
(6%) |
|
In addition to revenue, management regularly
reviews key business metrics to evaluate our business, measure
performance, identify trends affecting our business, formulate
financial projections and make strategic decisions. As of the dates
presented, these key metrics were as follows:
| |
|
|
|
|
| |
|
As of December 31, 2024 |
| |
|
2024 |
2023 |
2022 |
| Installed base of instruments
(sold or licensed) |
|
760 |
683 |
616 |
| Core Revenue Generated by SPL
Clients as a % of Core Revenue |
|
55% |
48% |
42% |
| Number of active SPLs |
|
28 |
23 |
18 |
| Total number of active
licensed clinical programs under SPLs currently in the clinic
* |
|
18 |
16 |
16 |
| Total number of active
licensed programs under SPLs currently commercial * |
|
1 |
1 |
- |
*Number of licensed clinical programs and
commercial programs under SPLs are by number of product candidates
and not by indication.
Fourth Quarter 2024 Financial
Results
Total revenue for the fourth quarter of 2024 was
$8.7 million, compared to $15.7 million in the fourth quarter of
2023, representing a decrease of 45%. The decrease in total revenue
was due to multiple one-time approval milestones in the fourth
quarter of 2023.
Core business revenue (sales of instruments, PAs
and consumables, and licenses to customers, excluding SPL
Program-related revenue) for the fourth quarter of 2024 was $8.6
million, compared to $7.2 million in the fourth quarter of 2023,
representing an increase of 20%.
SPL Program-related revenue was $0.1 million in
the fourth quarter of 2024, as compared to $8.5 million in the
fourth quarter of 2023.
Gross profit for the fourth quarter of 2024 was
$6.4 million (74% gross margin), compared to $14.1 million (90%
gross margin) in the fourth quarter of 2023. Non-GAAP adjusted
gross margin was 84% when excluding SPL Program-related revenue and
reserves for excess and obsolete inventory, compared to non-GAAP
adjusted gross margin of 86% in the fourth quarter of 2023.
Operating expenses for the fourth quarter of
2024 were $19.3 million, compared to operating expenses of $22.2
million in the fourth quarter of 2023.
Fourth quarter 2024 net loss was $10.6 million
compared to net loss of $5.3 million for the same period in 2023.
EBITDA, a non-GAAP measure, was a loss of $11.8 million for the
fourth quarter of 2024, compared to a loss of $7.0 million for the
fourth quarter of 2023; stock-based compensation expense was $3.1
million in the fourth quarter of 2024 compared to $3.6 million in
the fourth quarter of 2023.
Full Year 2024 Financial
Results
Total revenue for 2024 was $38.6 million,
compared to $41.3 million in 2023, representing a decrease of
6%.
Core business revenue (sales of instruments, PAs
and consumables, and licenses, excluding SPL Program-related
revenue) for 2024 was $32.5 million, compared to $29.8 million for
2023, representing an increase of 9%.
SPL Program-related revenue was $6.1 million in
2024, as compared to $11.5 million in 2023.
Gross profit for 2024 was $31.5 million (82%
gross margin), compared to $36.5 million (89% gross margin) in the
prior year. Non-GAAP adjusted gross margin was 84% when excluding
SPL Program-related revenue and reserves for excess and obsolete
inventory, compared to non-GAAP adjusted gross margin of 86% in
2023.
Operating expenses for 2024 were $82.7 million,
compared to operating expenses of $84.8 million in 2023.
Full year 2024 net loss was $41.1 million
compared to a loss of $37.9 million in 2023. 2024 EBITDA was a loss
of $46.9 million compared to a loss of $44.1 million in 2023; total
stock-based compensation for 2024 was $13.1 million, compared to
$14.0 million for 2023.
Total cash, cash equivalents and investments
were $190.3 million as of December 31, 2024, compared to $211.2
million as of December 31, 2023.
2025 Guidance
MaxCyte is providing initial 2025 revenue
guidance for core business revenue and SPL Program-related
revenue:
- 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.
Webcast and Conference Call
Details
MaxCyte will host a conference call today, March
11, 2025, at 4:30 p.m. Eastern Time. Investors interested in
listening to the conference call are required to register online. A
live and archived webcast of the event will be available on the
“Events” section of the MaxCyte website at
https://investors.maxcyte.com/.
About MaxCyte
At MaxCyte, we pursue cell engineering
excellence to maximize the potential of cells to improve patients’
lives. We have spent more than 25 years honing our expertise by
building best-in-class platforms, perfecting the art of the
transfection workflow, and venturing beyond today’s processes to
innovate tomorrow’s solutions. Our ExPERT™ platform, which is based
on our Flow Electroporation® technology, has been
designed to support the rapidly expanding cell therapy market and
can be utilized across the continuum of the high-growth cell
therapy sector, from discovery and development through
commercialization of next-generation, cell-based medicines. The
ExPERT family of products includes: four instruments, the ATx™,
STx™, GTx™ and VLx ™; a portfolio of proprietary related processing
assemblies or disposables; and software protocols, all supported by
a robust worldwide intellectual property portfolio. By providing
our partners with the right technology platform, as well as
scientific, technical and regulatory support, we aim to guide them
on their journey to transform human health. Learn more
at maxcyte.com and follow us
on X and LinkedIn.
Non-GAAP Financial Measures
This press release contains EBITDA, which is a
non-GAAP measure defined as earnings before interest income and
expense, taxes, depreciation and amortization. MaxCyte believes
that EBITDA provides useful information to management and investors
relating to its results of operations. The company’s management
uses this non-GAAP measure to compare the company’s performance to
that of prior periods for trend analyses, and for budgeting and
planning purposes. The company believes that the use of EBITDA
provides an additional tool for investors to use in evaluating
ongoing operating results and trends and in comparing the company’s
financial measures with other companies, many of which present
similar non-GAAP financial measures to investors, and that it
allows for greater transparency with respect to key metrics used by
management in its financial and operational decision-making.
This press release also contains Non-GAAP Gross
Margin, which we define as Gross Margin when excluding SPL program
related revenue and reserves for excess and obsolete inventory. The
Company believes that the use of Non-GAAP Gross Margin provides an
additional tool to investors because it provides consistency and
comparability with past financial performance, as Non-GAAP Gross
Margin excludes non-core revenues and inventory reserves, which can
vary significantly between periods and thus affect
comparability.
Management does not consider these Non-GAAP
financial measures in isolation or as an alternative to financial
measures determined in accordance with GAAP. The principal
limitation of these Non-GAAP financial measures is that they
exclude significant revenues and expenses that are required by GAAP
to be recorded in the Company’s financial statements. In order to
compensate for these limitations, management presents these
Non-GAAP financial measures along with GAAP results. Non-GAAP
measures should be considered in addition to results prepared in
accordance with GAAP, but should not be considered a substitute
for, or superior to, GAAP results. Reconciliation tables of net
loss, the most comparable GAAP financial measure, to EBITDA, and
Gross Margin, the most comparable GAAP financial measure, to
Non-GAAP Gross Margin, are included at the end of this release.
MaxCyte urges investors to review the reconciliation and not to
rely on any single financial measure to evaluate the company’s
business
Forward-Looking Statements
This press release contains "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. These
statements about us and our industry involve substantial known and
unknown risks, uncertainties, and assumptions, including those
described in Item 1A under the heading “Risk Factors” and elsewhere
in our report on Form 10-K, that may cause our actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. All statements other than
statements of historical facts contained in this press release,
including statements regarding our future results of operations or
financial condition, business strategy and plans and objectives of
management for future operations, are forward-looking statements.
Forward-looking statements include, but are not limited to,
statements about the Company’s preliminary results of operations,
including fourth quarter and full year total revenue, core revenue,
and SPL program revenue and statements about possible or future
results of operations or financial position. In some cases, you can
identify forward-looking statements because they contain words such
as "may," “might,” "will," "could," "would," "should," "expect,"
"plan," "anticipate," "intend," "believe," “expect,” "estimate,"
“seek,” "predict," “future,” "project," "potential," "continue,"
“contemplate,” "target,” the negative of these words and similar
words or expressions. These statements are inherently uncertain,
and investors are cautioned not to unduly rely on these statements.
The forward-looking statements contained in this press release,
include, without limitation, statements concerning the following:
our expected future growth and success of our business model; the
size and growth potential of the markets for our products, and our
ability to serve those markets, increase our market share, and
achieve and maintain industry leadership; our ability to expand our
customer base and enter into additional SPL partnerships; our
expectation that our partners will have access to capital markets
to develop and commercialize their cell therapy programs; our
financial performance and capital requirements; the adequacy of our
cash resources and availability of financing on commercially
reasonable terms; our expectations regarding our ability to obtain
and maintain intellectual property protection for our products, as
well as our ability to operate our business without infringing the
intellectual property rights of others; our expectations regarding
general market and economic conditions that may impact investor
confidence in the biopharmaceutical industry and affect the amount
of capital such investors provide to our current and potential
partners; and our use of available capital resources.
These and other risks and uncertainties are
described in greater detail in Item 1A , entitled "Risk Factors,”
in our Annual Report on Form 10-K for the year ended December 31,
2023, filed with the Securities and Exchange Commission on or about
March 12, 2024, as well as in discussions of potential risks,
uncertainties, and other important factors in the other filings
that we make with the Securities and Exchange Commission from time
to time. These documents are available through the Investor Menu,
Financials section, under “SEC Filings” on the Investors page of
our website at http://investors.maxcyte.com. Any forward-looking
statements in this press release are based on our current beliefs
and opinions on the relevant subject based on information available
to us as of the date of such press release, and you should not rely
on forward-looking statements as predictions of future events. We
undertake no obligation to update any forward-looking statements
made in this press release to reflect events or circumstances after
the date of this press release or to reflect new information or the
occurrence of unanticipated events, except as required by law.
MaxCyte Contacts:
US IR Adviser
Gilmartin Group
David Deuchler, CFA
+1 415-937-5400
ir@maxcyte.com
US Media Relations
Spectrum Science
Jordan Vines
jvines@spectrumscience.com
+1 540-629-3137
Nominated Adviser and Joint Corporate
Broker
Panmure Liberum
Emma Earl / Freddy Crossley
Corporate Broking
Rupert Dearden
+44 (0)20 7886 2500
UK IR Adviser
ICR Healthcare
Mary-Jane Elliott
Chris Welsh
+44 (0)203 709 5700
maxcyte@icrhealthcare.com
MaxCyte, Inc.
Consolidated Balance Sheets
(in thousands, except share and per share
amounts)
| |
|
December 31, 2024
(unaudited) |
|
December 31, 2023 |
| Assets |
|
|
|
|
|
|
| Current
assets: |
|
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
27,884 |
|
$ |
46,506 |
| Short-term investments, at
amortized cost |
|
|
126,598 |
|
|
121,782 |
| Accounts receivable, net |
|
|
4,682 |
|
|
5,778 |
| Inventory |
|
|
8,914 |
|
|
12,229 |
| Prepaid expenses and other
current assets |
|
|
3,606 |
|
|
3,899 |
| Total current
assets |
|
|
171,684 |
|
|
190,194 |
| |
|
|
|
|
|
|
| Investments, non-current, at
amortized cost |
|
|
35,781 |
|
|
42,938 |
| Property and equipment,
net |
|
|
19,707 |
|
|
23,513 |
| Right-of-use asset - operating
leases |
|
|
10,766 |
|
|
11,241 |
| Other assets |
|
|
1,532 |
|
|
388 |
| Total
assets |
|
$ |
239,470 |
|
|
268,274 |
| |
|
|
|
|
|
|
| Liabilities and
stockholders’ equity |
|
|
|
|
|
|
| Current
liabilities: |
|
|
|
|
|
|
| Accounts payable |
|
$ |
1,358 |
|
$ |
743 |
| Accrued expenses and
other |
|
|
8,302 |
|
|
11,269 |
| Operating lease liability,
current |
|
|
864 |
|
|
774 |
| Deferred revenue, current
portion |
|
|
5,251 |
|
|
5,069 |
| Total current
liabilities |
|
|
15,775 |
|
|
17,855 |
| |
|
|
|
|
|
|
| Operating lease liability, net
of current portion |
|
|
17,170 |
|
|
17,969 |
| Other liabilities |
|
|
274 |
|
|
283 |
| Total
liabilities |
|
|
33,219 |
|
|
36,107 |
| |
|
|
|
|
|
|
| Commitments and
contingencies |
|
|
|
|
|
|
| Stockholders’
equity |
|
|
|
|
|
|
| Preferred stock, $0.01 par
value; 5,000,000 shares authorized and no shares issued and
outstanding at December 31, 2024 and December 31, 2023 |
|
|
— |
|
|
— |
| Common stock, $0.01 par value;
400,000,000 shares authorized, 105,711,093 and 103,961,670 shares
issued and outstanding at December 31, 2024 and December 31, 2023,
respectively |
|
|
1,057 |
|
|
1,040 |
| Additional paid-in
capital |
|
|
422,047 |
|
|
406,925 |
| Accumulated deficit |
|
|
(216,853) |
|
|
(175,798) |
| Total stockholders’
equity |
|
|
206,251 |
|
|
232,167 |
| Total liabilities and
stockholders’ equity |
|
$ |
239,470 |
|
$ |
268,274 |
MaxCyte, Inc.
Consolidated Statements of Operations
(in thousands, except share and per share
amounts)
| |
|
Three Months Ended December 31, |
|
Year Ended December 31, |
| |
|
2024
(Unaudited) |
|
2023
(Unaudited) |
|
2024
(Unaudited) |
|
2023 |
| Revenue |
|
$ |
8,693 |
|
$ |
15,666 |
|
$ |
38,627 |
|
$ |
41,288 |
| Cost of goods sold |
|
|
2,281 |
|
|
1,573 |
|
|
7,100 |
|
|
4,742 |
| Gross
profit |
|
|
6,412 |
|
|
14,093 |
|
|
31,527 |
|
|
36,546 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Operating
expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
| Research and development |
|
|
4,614 |
|
|
5,842 |
|
|
22,227 |
|
|
23,817 |
| Sales and marketing |
|
|
6,473 |
|
|
7,196 |
|
|
26,661 |
|
|
26,975 |
| General and
administrative |
|
|
7,206 |
|
|
8,087 |
|
|
29,693 |
|
|
30,068 |
| Depreciation and
amortization |
|
|
1,020 |
|
|
1,063 |
|
|
4,143 |
|
|
3,985 |
| Total operating
expenses |
|
|
19,313 |
|
|
22,188 |
|
|
82,724 |
|
|
84,845 |
| Operating
loss |
|
|
(12,901) |
|
|
(8,095) |
|
|
(51,197) |
|
|
(48,299) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Other
income: |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income |
|
|
2,304 |
|
|
2,818 |
|
|
10,142 |
|
|
10,376 |
| Total other
income |
|
|
2,304 |
|
|
2,818 |
|
|
10,142 |
|
|
10,376 |
| Net loss |
|
$ |
(10,597) |
|
$ |
(5,277) |
|
$ |
(41,055) |
|
$ |
(37,923) |
| Basic and diluted net
loss per share |
|
$ |
(0.10) |
|
$ |
(0.05) |
|
$ |
(0.39) |
|
$ |
(0.37) |
Weighted average
shares outstanding,
basic and diluted |
|
|
105,547,751 |
|
|
103,703,240 |
|
|
104,849,222 |
|
|
103,268,502 |
MaxCyte, Inc.
Consolidated Statements of Cash Flows
(in thousands)
| |
|
Year ended December 31, |
| |
|
2024
(unaudited)
(unaudited) |
|
2023 |
| Cash flows from
operating activities: |
|
|
|
|
|
|
| Net loss |
|
$ |
(41,055) |
|
$ |
(37,923) |
| |
|
|
|
|
|
|
| Adjustments to reconcile net
loss to net cash used in operating activities: |
|
|
|
|
|
|
| Depreciation and
amortization |
|
|
4,315 |
|
|
4,171 |
| Lease right-of-use asset
amortization |
|
|
475 |
|
|
395 |
| Net book value of consigned
equipment sold |
|
|
63 |
|
|
94 |
| Loss on disposal of property
and equipment |
|
|
861 |
|
|
30 |
| Stock-based compensation |
|
|
13,083 |
|
|
13,979 |
| Credit loss (recovery)
expense |
|
|
(130) |
|
|
171 |
| Change in excess/obsolete
inventory reserve |
|
|
1,771 |
|
|
697 |
| Amortization of discounts on
investments |
|
|
(6,242) |
|
|
(7,120) |
| |
|
|
|
|
|
|
| Changes in operating assets
and liabilities: |
|
|
|
|
|
|
| Accounts receivable |
|
|
1,226 |
|
|
5,226 |
| Accounts receivable –
TIA* |
|
|
- |
|
|
1,912 |
| Inventory |
|
|
1,362 |
|
|
(4,534) |
| Prepaid expense and other
current assets |
|
|
293 |
|
|
(641) |
| Other assets |
|
|
(1,213) |
|
|
421 |
| Accounts payable, accrued
expenses and other |
|
|
(1,883) |
|
|
3,252 |
| Operating lease liability |
|
|
(709) |
|
|
(133) |
| Deferred revenue |
|
|
182 |
|
|
(1,644) |
| Other liabilities |
|
|
(9) |
|
|
(39) |
| Net cash used in operating
activities |
|
|
(27,610) |
|
|
(21,686) |
| |
|
|
|
|
|
|
| Cash flows from
investing activities: |
|
|
|
|
|
|
| Purchases of investments |
|
|
(150,857) |
|
|
(255,095) |
| Maturities of investments |
|
|
159,440 |
|
|
313,770 |
| Purchases of property and
equipment |
|
|
(1,651) |
|
|
(3,700) |
| Proceeds from sale of
equipment |
|
|
- |
|
|
9 |
| Net cash provided by investing
activities |
|
|
6,932 |
|
|
54,984 |
| |
|
|
|
|
|
|
| Cash flows from
financing activities: |
|
|
|
|
|
|
| Proceeds from exercise of
stock options |
|
|
1,597 |
|
|
1,874 |
| Proceeds from issuance of
common stock under employee stock purchase plan |
|
|
459 |
|
|
269 |
| Net cash provided by financing
activities |
|
|
2,056 |
|
|
2,143 |
| Net (decrease) increase in
cash and cash equivalents |
|
|
(18,622) |
|
|
35,441 |
| Cash and cash equivalents,
beginning of period |
|
|
46,506 |
|
|
11,065 |
| Cash and cash equivalents, end
of period |
|
$ |
27,884 |
|
$ |
46,506 |
*Tenant improvement allowance
(“TIA”)
Unaudited Reconciliation of Net Loss to
EBITDA
(in thousands)
(Unaudited)
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Three Months Ended |
|
Year Ended |
|
| |
December 31, |
|
December 31, |
|
| |
2024 |
|
2023 |
|
2024 |
|
2023 |
|
| (in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
$ |
(10,597) |
|
$ |
(5,277) |
|
$ |
(41,055) |
|
$ |
(37,923) |
|
| Depreciation and amortization
expense |
|
1,057 |
|
|
1,102 |
|
|
4,315 |
|
|
4,171 |
|
| Interest income |
|
(2,304) |
|
|
(2,818) |
|
|
(10,142) |
|
|
(10,376) |
|
| Income taxes |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| EBITDA |
$ |
(11,844) |
|
$ |
(6,993) |
|
$ |
(46,882) |
|
$ |
(44,128) |
|
Unaudited Reconciliation of Gross Margin
to Non-GAAP Adjusted gross margin
(in thousands, except for percentages)
(Unaudited)
| |
Three months ended December 31, 2024 |
|
Three months ended December 31, 2023 |
| |
GAAP |
|
Adjustments |
|
Non-GAAP |
|
GAAP |
|
Adjustments |
|
Non-GAAP |
| Revenue |
$ 8,693 |
|
$ (83) |
|
$ 8,610 |
|
$ 15,666 |
|
$ (8,504) |
|
$ 7,162 |
| Cost of Goods Sold |
2,281 |
|
(916) |
|
1,365 |
|
1,573 |
|
(581) |
|
992 |
| Gross Margin |
6,412 |
|
833 |
|
7,245 |
|
14,093 |
|
(7,923) |
|
6,170 |
| Gross Margin % |
74% |
|
|
|
84% |
|
90% |
|
|
|
86% |
| |
Year ended December 31, 2024 |
|
Year ended December 31, 2023 |
| |
GAAP |
|
Adjustments |
|
Non-GAAP |
|
GAAP |
|
Adjustments |
|
Non-GAAP |
| Revenue |
$ 38,627 |
|
$ (6,115) |
|
$ 32,512 |
|
$ 41,288 |
|
$ (11,465) |
|
$ 29,823 |
| Cost of Goods Sold |
7,100 |
|
(1,771) |
|
5,329 |
|
4,742 |
|
(581) |
|
4,161 |
| Gross Margin |
31,527 |
|
(4,344) |
|
27,183 |
|
36,546 |
|
(10,884) |
|
25,662 |
| Gross Margin % |
82% |
|
|
|
84% |
|
89% |
|
|
|
86% |
(1) Adjustments
include the exclusion of SPL program related revenue from Revenue,
and the exclusion of reserves for excess and obsolete inventory
from Cost of Goods Sold.
Maxcyte (LSE:MXCT)
Graphique Historique de l'Action
De Fév 2025 à Mar 2025
Maxcyte (LSE:MXCT)
Graphique Historique de l'Action
De Mar 2024 à Mar 2025
