MaxCyte Inc.
08/12/2026 | Press release | Distributed by Public on 08/12/2026 14:15
MaxCyte Reports Second Quarter 2026 Financial Results (Form 8-K)
MaxCyte Reports Second Quarter 2026 Financial Results
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Reports total revenue of $7.3 million for the second quarter of 2026, including $6.5 million of core revenue and $0.8 million of SPL Program-related revenue |
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Reiterates Full Year 2026 Guidance |
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Repurchased approximately $5.5 million of common stock to date under the Company's $10 million share repurchase program authorized by the Board |
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Following end of quarter, announced strategic, multi-platform technology license partnership with Genentech in July |
ROCKVILLE, MD, August 12, 2026 - MaxCyte, Inc. (NASDAQ: 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 second quarter ended June 30, 2026 financial results and reiterated its 2026 guidance.
"We are pleased with our second quarter results, which were ahead of our expectations, driven by execution on instrument placements and stability in processing assembly sales," said Maher Masoud, President and CEO of MaxCyte. "A significant development for MaxCyte was the recent signing of our first multi-platform technology license partnership with large pharma, an enterprise-level agreement with Genentech that we believe will unlock meaningful new opportunities for MaxCyte. Separately, our SPL portfolio remains a key driver of long-term value as evident by growing commercial royalty revenue and the advancement of a significant number of SPL programs through the clinic. Lastly, our goal has been to return to revenue growth while reducing our net losses. In the first half of 2026, we delivered a meaningful reduction in net loss and expect to benefit further as we continue to execute against our plan and return to revenue growth."
Second Quarter Financial Results
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Total revenue of $7.3 million in the second quarter of 2026, a decrease of 15% over the second quarter of 2025. |
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Core business revenue of $6.5 million in the second quarter of 2026, a decrease of 21% over the second quarter of 2025. |
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Strategic Platform License (SPL) Program-related revenue was $0.8 million for the second quarter of 2026, compared to $0.3 million in the second quarter of 2025. |
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Gross profit for the second quarter of 2026 was $5.6 million (77% gross margin), compared to $7.0 million (82% gross margin) in the second quarter of 2025. |
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Non-GAAP adjusted gross margin was 77% when excluding SPL Program-related revenue and reserves for excess and obsolete inventory, compared to non-GAAP adjusted gross margin of 83% in the second quarter of 2025. |
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Operating expenses for the second quarter of 2026 were $15.8 million, compared to operating expenses of $21.2 million in the second quarter of 2025. |
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Second quarter 2026 net loss was $8.9 million compared to net loss of $12.4 million for the same period in 2025. |
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EBITDA, a non-GAAP measure, was a loss of $9.3 million for the second quarter of 2026, compared to a loss of $13.1 million for the second quarter of 2025; stock-based compensation expense was $1.2 million in the second quarter of 2026 compared to $3.5 million in the second quarter of 2025. |
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Total SPL agreements was 29 as of June 30, 2026, which includes 12 programs currently in the clinic (defined as programs with at least a cleared IND or equivalent) and one commercial program. |
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Total cash, cash equivalents and investments were $141.9 million as of June 30, 2026. |
Full Year 2026 Guidance
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Full year revenue expected to be $30 million to $32 million consisting of: |
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Core revenue of $25 million to $27 million. |
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SPL Program-related revenue of approximately $5 million for the year; SPL Program-related revenue guidance includes both revenue of approximately $3 million from milestone payments and approximately $2 million from commercial royalties. |
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MaxCyte expects to end 2026 with at least $130.5 million in total cash, cash equivalents and investments, excluding any further capital deployed toward the share repurchase program. |
The following tables provide details regarding the sources of our revenue for the periods presented.
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Three Months Ended |
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June 30 |
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2026 |
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2025 |
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% |
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(in thousands, except percentages) |
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Instruments |
$ |
1,761 |
$ |
2,141 |
(18%) |
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PAs and Consumables |
2,337 |
3,128 |
(25%) |
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Licenses |
1,822 |
2,619 |
(30%) |
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Assay Service |
245 |
51 |
380% |
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Other |
338 |
259 |
31% |
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Total Core Revenue |
$ |
6,503 |
$ |
8,198 |
(21%) |
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Milestones |
4 |
4 |
0% |
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Royalties |
764 |
305 |
150% |
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Total Revenue |
$ |
7,271 |
$ |
8,507 |
(15%) |
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Webcast and Conference Call Details
MaxCyte will host a conference call today, August 12, 2026, 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/.
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About MaxCyte
At MaxCyte®, we are committed to building better cells together. As a leading cell-engineering company, we are driving the discovery, development and commercialization of next-generation cell therapies. Our best-in-class Flow Electroporation® technology and SeQure™ gene editing risk assessment services enable high-performance cell engineering and rigorous evaluation of editing outcomes, supporting confidence in therapeutic development. Supported by expert scientific, technical and regulatory guidance, our platform empowers researchers to engineer diverse cell types and payloads, accelerating the development of safe and effective treatments for human health. For more than 25 years, we've been advancing cell engineering, shaping the future of medicine.
Learn more at maxcyte.com and follow us on LinkedIn and Bluesky.
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 these non-GAAP measures 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.
MaxCyte Inc. published this content on August 12, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on August 12, 2026 at 20:16 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]