Overview
MaxCyte Q3 revenue falls 16% yr/yr, maintaining full-year guidance
Adjusted EBITDA beats analyst expectations, reflecting effective cost management
Company expands SPL program with new agreement, adding Moonlight Bio
Outlook
MaxCyte expects 2025 core revenue to be flat to a 10% decline vs 2024
SPL Program-related revenue expected to be $5 mln for 2025
Company anticipates ending 2025 with $152 mln to $155 mln in cash and investments
Result Drivers
RESTRUCTURING - Co in the quarter announced operational restructuring to cut costs and accelerate profitability
NEW SPL CLIENTS - Co added new SPL client Moonlight Bio, expanding total SPL agreements to 32
DECREASED CORE REVENUE - Core business revenue fell 21% yr/yr due to lower sales in instruments, PAs, consumables, and licenses
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Net Income | -$12.40 mln | ||
Q3 Adjusted EBITDA | Beat | -$10 mln | -$10.12 mln (5 Analysts) |
Q3 Gross Profit | $5.20 mln | ||
Q3 Operating Expenses | $19.40 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"
Wall Street's median 12-month price target for MaxCyte Inc is $5.72, about 72.9% above its November 11 closing price of $1.55
Press Release: ID:nGNX7mKG71
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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