MaxCyte, Inc. reported a total revenue of $7.3 million for the second quarter of 2026, a decrease of 15% from $8.5 million in the same period of 2025. For the first half of 2026, revenue totaled $16.9 million, down 10% from $18.9 million year-over-year. The decline in revenue was primarily attributed to a decrease in core revenue, which includes sales of instruments and processing assemblies (PAs), as well as licensing revenue. Core revenue fell by 21% to $6.5 million in the second quarter, driven by reduced sales in PAs and licenses, while SPL (Strategic Platform License) milestone and royalty revenue increased by 149% to $768,000.
The company reported a net loss of $8.9 million for the second quarter of 2026, compared to a net loss of $12.4 million in the same quarter of 2025. For the first half of 2026, the net loss was $13.6 million, significantly improved from a loss of $22.6 million in the prior year. This reduction in losses was supported by a decrease in total operating expenses, which fell to $15.8 million in the second quarter from $21.2 million a year earlier, largely due to cost-cutting measures including a workforce reduction implemented in September 2025.
MaxCyte's operational metrics showed a customer base that includes 29 SPL partners, with a majority of the top 25 pharmaceutical companies as clients. The company has also launched its ExPERT DTx platform, designed for high-throughput transfection in research and drug discovery applications, which is expected to enhance its product offerings and market position. As of June 30, 2026, MaxCyte had cash and cash equivalents of $15.0 million, down from $20.1 million at the end of 2025, reflecting ongoing investments in growth and development.
The company has indicated that it expects to continue incurring net losses as it invests in expanding its sales and marketing efforts, scaling manufacturing operations, and advancing research and development initiatives. MaxCyte anticipates that revenue will increase over time as its customers' programs progress through the cell therapy lifecycle and as the market for its products expands. However, the company also noted that revenue may fluctuate due to the timing of product sales and the uncertain nature of its partners' clinical progress.
In summary, while MaxCyte has experienced a decline in revenue and continues to operate at a loss, strategic investments in product development and a growing customer base position the company for potential future growth in the cell therapy market.
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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