MaxCyte Announces Preliminary Unaudited Fourth Quarter and Full Year 2024 Financial Results
MaxCyte (NASDAQ: MXCT) has released preliminary unaudited financial results for Q4 and full year 2024. The company expects Q4 core revenue between $8.3-8.5 million, up from $7.2 million in Q4 2023. Full-year core revenue is anticipated at $32.2-32.4 million, showing 8-9% growth compared to $29.8 million in 2023.
The company's cash position as of December 31, 2024, is expected to be approximately $190 million, exceeding both initial guidance of $175 million and updated December guidance of $185 million, though down from $211 million at the end of 2023.
In 2024, MaxCyte added six new SPL customers and supported the commercial launch of the first FDA-approved non-viral gene edited cell therapy product. Complete SPL program-related revenue and total revenue figures for Q4 and full year 2024 will be reported in March 2025.
MaxCyte (NASDAQ: MXCT) ha rilasciato risultati finanziari preliminari non auditati per il Q4 e l'intero anno 2024. L'azienda si aspetta un fatturato core del Q4 compreso tra 8,3 e 8,5 milioni di dollari, in aumento rispetto ai 7,2 milioni di dollari del Q4 2023. Il fatturato core dell'intero anno è previsto tra 32,2 e 32,4 milioni di dollari, mostrando una crescita dell'8-9% rispetto ai 29,8 milioni di dollari del 2023.
La posizione di cassa dell'azienda al 31 dicembre 2024 è attesa essere di circa 190 milioni di dollari, superando sia le previsioni iniziali di 175 milioni di dollari sia le previsioni aggiornate di dicembre di 185 milioni di dollari, anche se in calo rispetto ai 211 milioni di dollari alla fine del 2023.
Nel 2024, MaxCyte ha acquisito sei nuovi clienti SPL e ha supportato il lancio commerciale del primo prodotto di terapia cellulare con gene modificato non virale approvato dalla FDA. I dati completi relativi al fatturato del programma SPL e al fatturato totale per il Q4 e l'intero anno 2024 saranno riportati a marzo 2025.
MaxCyte (NASDAQ: MXCT) ha publicado resultados financieros preliminares no auditados para el Q4 y el año completo 2024. La compañía espera un ingreso central del Q4 entre 8,3 y 8,5 millones de dólares, en comparación con 7,2 millones de dólares en el Q4 de 2023. Se anticipa que el ingreso central del año completo sea de 32,2 a 32,4 millones de dólares, mostrando un crecimiento del 8-9% en comparación con los 29,8 millones de dólares en 2023.
La posición de efectivo de la compañía al 31 de diciembre de 2024 se espera que sea aproximadamente 190 millones de dólares, superando tanto la guía inicial de 175 millones de dólares como la guía actualizada de diciembre de 185 millones de dólares, aunque por debajo de los 211 millones de dólares a finales de 2023.
En 2024, MaxCyte añadió seis nuevos clientes SPL y apoyó el lanzamiento comercial del primer producto de terapia celular editado por gen no viral aprobado por la FDA. Se informarán los ingresos completos relacionados con el programa SPL y las cifras de ingresos totales para el Q4 y el año completo 2024 en marzo de 2025.
MaxCyte (NASDAQ: MXCT)는 2024년 4분기 및 연간 예비 감사되지 않은 재무 결과를 발표했습니다. 회사는 4분기 핵심 수익이 830만에서 850만 달러 사이일 것으로 예상하고 있으며, 이는 2023년 4분기 720만 달러에서 증가한 수치입니다. 연간 핵심 수익은 3220만에서 3240만 달러로 예상되며, 이는 2023년 2980만 달러 대비 8-9% 성장한 수치입니다.
2024년 12월 31일 기준으로 회사의 현금 보유액은 약 1억 9000만 달러로 예상되며, 이는 최초 안내인 1억 7500만 달러와 12월 업데이트 안내인 1억 8500만 달러를 초과하지만 2023년 말 2억 1100만 달러에서 감소한 수치입니다.
2024년 동안 MaxCyte는 6명의 새로운 SPL 고객을 추가하고 FDA 승인 제1호 비바이러스 유전자 편집 세포 치료 제품의 상업적 출시를 지원했습니다. 2024년 4분기 및 연간 총 수익 및 SPL 프로그램 관련 수익은 2025년 3월에 보고될 예정입니다.
MaxCyte (NASDAQ: MXCT) a publié des résultats financiers préliminaires non audités pour le Q4 et l'année complète 2024. L'entreprise s'attend à un revenu core du Q4 compris entre 8,3 et 8,5 millions de dollars, en hausse par rapport à 7,2 millions de dollars au Q4 2023. Le revenu core pour l'année devrait se situer entre 32,2 et 32,4 millions de dollars, affichant une croissance de 8-9% par rapport à 29,8 millions de dollars en 2023.
La position de trésorerie de l'entreprise au 31 décembre 2024 est attendue à être d'environ 190 millions de dollars, dépassant à la fois l'orientation initiale de 175 millions de dollars et l'orientation mise à jour de décembre de 185 millions de dollars, bien qu'en baisse par rapport à 211 millions de dollars à la fin de 2023.
En 2024, MaxCyte a ajouté six nouveaux clients SPL et a soutenu le lancement commercial du premier produit de thérapie cellulaire à gène modifié non viral approuvé par la FDA. Les chiffres des revenus liés au programme SPL et les revenus totaux pour le Q4 et l'année complète 2024 seront publiés en mars 2025.
MaxCyte (NASDAQ: MXCT) hat vorläufige, nicht geprüfte Finanzergebnisse für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht. Das Unternehmen erwartet gerechtfertigte Einnahmen im vierten Quartal zwischen 8,3 und 8,5 Millionen Dollar, ein Anstieg gegenüber 7,2 Millionen Dollar im vierten Quartal 2023. Der gerechte Umsatz des gesamten Jahres wird voraussichtlich zwischen 32,2 und 32,4 Millionen Dollar liegen, was ein Wachstum von 8-9% im Vergleich zu 29,8 Millionen Dollar im Jahr 2023 zeigt.
Die Liquiditätslage des Unternehmens wird zum 31. Dezember 2024 voraussichtlich etwa 190 Millionen Dollar betragen, was sowohl die ursprüngliche Prognose von 175 Millionen Dollar als auch die aktualisierte Dezemberprognose von 185 Millionen Dollar übersteigt, aber im Vergleich zu den 211 Millionen Dollar Ende 2023 rückläufig ist.
Im Jahr 2024 hat MaxCyte sechs neue SPL-Kunden gewonnen und die kommerzielle Einführung des ersten von der FDA genehmigten nicht-viralen, genbearbeiteten Zelltherapieprodukts unterstützt. Die vollständigen SPL-programmspezifischen Einnahmen und insgesamt für das vierte Quartal sowie das gesamte Jahr 2024 werden im März 2025 bekannt gegeben.
- Core revenue growth of 8-9% year-over-year
- Q4 core revenue increased to $8.3-8.5M from $7.2M in Q4 2023
- Cash position of $190M exceeded guidance
- Addition of six new SPL customers
- Supported first FDA-approved non-viral gene edited cell therapy launch
- Cash position declined from $211M to $190M year-over-year
Insights
The preliminary Q4 and FY2024 results reveal a mixed financial picture for MaxCyte. Core revenue growth of
The cash position remains robust at
The addition of six new Strategic Platform License (SPL) customers strengthens the company's partnership portfolio and potential future revenue streams. However, the delay in reporting SPL program-related revenue until March creates uncertainty around total revenue performance.
The FDA approval and commercial launch support for the first non-viral gene edited cell therapy product marks a significant milestone for MaxCyte's technology platform validation. This achievement positions the company favorably in the evolving cell therapy landscape, particularly as the sector shows signs of recovery heading into 2025.
The operational streamlining mentioned suggests cost optimization efforts, which are important given the current market environment. However, the modest core revenue growth indicates potential challenges in market penetration or customer adoption rates. The expansion of the SPL customer base by six new partners demonstrates continued market interest in MaxCyte's platform technology, though monetization timing remains crucial.
ROCKVILLE, Md., Jan. 13, 2025 (GLOBE NEWSWIRE) -- 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 provided a preliminary update on financial results for the fourth quarter and full year ended December 31, 2024.
Preliminary Unaudited Fourth Quarter and Full Year 2024 Results
- Core revenue in the fourth quarter is expected to be between
$8.3 million and$8.5 million , compared to$7.2 million in the fourth quarter of 2023 - Core revenue for the full year is expected to be between
$32.2 million and$32.4 million compared to$29.8 million for fiscal year 2023, representing 8 to9% growth - SPL program-related revenue and Total Revenue for the fourth quarter and full year 2024 is expected to be reported in March 2025
Total cash, cash equivalents, and investments as of December 31, 2024, is expected to be approximately
“MaxCyte reported preliminary core revenue for 2024 at the high end of the updated guidance range provided. The operating environment in the cell therapy industry is improving as we move into 2025; and we remain confident in the opportunity that exists for MaxCyte in the years ahead,” said Maher Masoud, President and CEO of MaxCyte. “In 2024, we increased the number of SPL customers by six, supported the commercial launch of the first non-viral gene edited cell therapy product approved by the FDA, and returned to healthy revenue growth while streamlining operations.”
MaxCyte’s fourth quarter and full year results are preliminary and unaudited and subject to change in connection with the completion of MaxCyte’s quarterly and year-end closing processes and the preparation of its audited financial statements for the quarter and fiscal year ended December 31, 2024. As a result, these preliminary results may differ from the actual results that will be reflected in MaxCyte’s consolidated financial statements for the quarter and fiscal year ended December 31, 2024, which are expected to be released in March 2025 and will be included in MaxCyte’s Annual Report on Form 10-K.
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.
MaxCyte Contacts:
US IR Adviser
Gilmartin Group
David Deuchler, CFA
+1 415-937-5400
ir@maxcyte.com
US Media Relations
Spectrum Science
Jordan Vines
+1 540-629-3137
jvines@spectrumscience.com
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
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. All statements other than statements of historical facts contained in this press release, including statements about the Company’s preliminary results of operations, including fourth quarter and full year 2024 total revenue, core revenue, and SPL program revenue and statements about possible or assumed future results of operations or financial position., are forward-looking statements. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements.
Risks and uncertainties related to our business are described in greater detail in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission (“SEC”) on 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, including in our Form 10-Q for the quarter ended September 30, 2024, filed with the SEC on November 6, 2024. 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.
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