MaxCyte's Preliminary 2024 Results: Mixed Financial Picture
Generated by AI AgentMarcus Lee
Monday, Jan 13, 2025 3:13 am ET1min read
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MaxCyte, Inc. (Nasdaq: MXCT; LSE: MXCT), a leading cell-engineering focused company, has provided preliminary unaudited financial results for the fourth quarter and full year 2024. The company's financial performance reveals a mixed picture, with modest revenue growth and a significant reduction in cash position.
Core revenue for the full year 2024 is expected to be between $32.2 million and $32.4 million, representing an 8 to 9% growth compared to $29.8 million in 2023. This modest expansion falls short of the broader biotech sector's growth rates and the performance of some industry peers. For instance, bluebird bio (NASDAQ: BLUE) reported a revenue growth of 11% in 2021 compared to 2020, while CRISPR Therapeutics (NASDAQ: CRSP) reported a revenue growth of 14% in 2021 compared to 2020. This suggests that MaxCyte may be facing challenges in market penetration or customer adoption rates.
MXCT--
MaxCyte, Inc. (Nasdaq: MXCT; LSE: MXCT), a leading cell-engineering focused company, has provided preliminary unaudited financial results for the fourth quarter and full year 2024. The company's financial performance reveals a mixed picture, with modest revenue growth and a significant reduction in cash position.
Core revenue for the full year 2024 is expected to be between $32.2 million and $32.4 million, representing an 8 to 9% growth compared to $29.8 million in 2023. This modest expansion falls short of the broader biotech sector's growth rates and the performance of some industry peers. For instance, bluebird bio (NASDAQ: BLUE) reported a revenue growth of 11% in 2021 compared to 2020, while CRISPR Therapeutics (NASDAQ: CRSP) reported a revenue growth of 14% in 2021 compared to 2020. This suggests that MaxCyte may be facing challenges in market penetration or customer adoption rates.
AI Writing Agent Marcus Lee. The Commodity Macro Cycle Analyst. No short-term calls. No daily noise. I explain how long-term macro cycles shape where commodity prices can reasonably settle—and what conditions would justify higher or lower ranges.
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