MaxCyte, Inc. reported a decline in financial performance for the third quarter of 2025, with total revenue of $6.8 million, down 16% from $8.2 million in the same period last year. The decrease was primarily attributed to a drop in core revenue, which fell by 21% to $6.4 million, driven by declines in instrument, processing assembly (PA), and license revenues. The company incurred a net loss of $12.4 million, compared to a loss of $11.6 million in the prior year, reflecting ongoing challenges in achieving profitability.
For the nine months ending September 30, 2025, MaxCyte's total revenue was $25.7 million, a 14% decrease from $29.9 million in the same period of 2024. The company reported a gross profit of $21.1 million, down 16% from $25.1 million, with a gross margin of 82%. Operating expenses totaled $61.8 million, slightly lower than the $63.4 million reported in the previous year, with significant reductions in sales and marketing expenses due to a workforce reduction plan that is expected to cut approximately 34% of the global workforce.
In January 2025, MaxCyte completed the acquisition of SeQure Dx, Inc., a provider of gene-editing assessment services, for a preliminary purchase price of $2.3 million. This acquisition is anticipated to enhance MaxCyte's capabilities in serving cell and gene therapy developers. The integration of SeQure is expected to expand the company's service offerings and improve its competitive position in the market.
As of September 30, 2025, MaxCyte had cash and cash equivalents of $13.0 million, down from $27.9 million at the end of 2024. The company reported an accumulated deficit of $251.9 million. Looking ahead, MaxCyte expects to continue incurring losses as it invests in expanding its sales and marketing efforts, research and development, and product offerings. The company remains focused on growing its customer base and increasing revenue from its existing partnerships, particularly through its Strategic Platform Licenses (SPL) agreements.
About MAXCYTE INC
MaxCyte, Inc. is a leading cell engineering company specializing in advanced platform technologies for cell and gene therapies. Its proprietary Flow Electroporation technology enables efficient delivery of molecules into cells, supporting biopharmaceutical companies and academic institutions. With a growing market opportunity in cell therapy, MaxCyte's ExPERT platform includes various instruments and disposables. Recent innovations include the acquisition of SeQure Dx, enhancing its service offerings in gene editing assessments.
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