Maxcyte 2025 Q2 Earnings Worse Performance as Net Loss Widens 31.8%

Maxcyte reported its fiscal 2025 Q2 earnings on Aug 06th, 2025. The results missed expectations with a substantial net loss and a significant revenue decline. The company revised 2025 guidance downward, reflecting short-term challenges.

Revenue

Maxcyte reported total revenue of $8.51 million in Q2 2025, representing an 18.4% decline from $10.43 million in the same period in 2024. Within the revenue breakdown, product sales contributed $5.27 million, licenses brought in $2.93 million, and assay and other service revenue accounted for $310,000.

Earnings/Net Income

Maxcyte's net loss widened to $-12.36 million in Q2 2025, a 31.8% increase from the $-9.38 million loss in the prior year. On a per-share basis, the loss rose to $0.12, up from $0.09 in 2024 Q2. This reflects a 33.3% wider loss, as the company continues to face persistent financial challenges. The EPS result indicates deteriorating performance, with the company posting a significantly wider loss compared to the prior year.

Price Action

Maxcyte's stock has seen a downward trend, with a 1.45% drop in the latest trading day, a 3.32% decline in the most recent full week, and a 5.99% drop month-to-date.

Post-Earnings Price Action Review

A strategy of buying MaxCyte shares after a revenue raise quarter-over-quarter on the earnings report date and holding for 30 days has historically underperformed, with a return of -71.89% over the past three years. This underperformance contrasts sharply with the benchmark return of 49.40%. The Sharpe ratio of -0.57 highlights the strategy’s strong risk aversion, but its inability to capitalize on positive stock movements is evident, with a maximum drawdown of 0%.

CEO Commentary

Maher Masoud, President and CEO, acknowledged the short-term challenges stemming from evolving customer inventory management and pipeline reprioritization, leading to a downward revision of 2025 guidance. Despite these issues, the company remains focused on operational efficiency, high-quality service, and product innovation, particularly in SeQure Dx. He expressed confidence in the company's path to profitability driven by operational efficiencies, a diverse product portfolio, and maturing customer clinical programs.

Guidance

MaxCyte has revised its 2025 guidance downward, factoring in reduced expectations for the second half of the year due to shifts in customer behavior. Core revenue is anticipated to remain flat or decline by up to 10% compared to 2024, while SPL Program-related revenue is expected to reach approximately $5 million for the year. The company forecasts to end 2025 with at least $155 million in total cash, cash equivalents, and investments.

Additional News

Maxcyte added two new SPL clients, Adicet Bio and Anocca AB, in July, bringing the total SPL agreements to 31. Despite a core revenue increase of 8% to $8.2 million in Q2 2025, the company's total revenue decreased by 18% year-over-year to $8.5 million, primarily due to a sharp decline in SPL Program-related revenue. Total cash, cash equivalents, and investments stood at $165.2 million as of June 30, 2025, reflecting a reduction of approximately $7.0 million due to acquisition costs for SeQure Dx. The company lowered its 2025 guidance to reflect anticipated lower performance in the second half of the year, driven by customer inventory management and pipeline reprioritization. Management highlighted a strong pipeline of potential SPLs and ongoing confidence in the cell and gene therapy market. The company remains committed to prudent spending and product development while aiming to achieve profitability with existing capital.