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

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

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(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.)