MaxCyte (MXCT) AI Stock Analysis

• Market Cap: $244.53M
• Dividend Yield: N/A
• Average Volume (3M): 874.64K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.26
• Revenue Growth: -14.48%
• EPS Growth: -12.34%
• Country: US
• Employees: 114
• Sector: Healthcare
• Sector Strength: 41
• Industry: Medical - Devices
• EPS (TTM): -0.10
• Shares Outstanding: 106,318,535
• 10 Day Avg. Volume: 1,278,588
• 30 Day Avg. Volume: 874,644
• PEG Ratio: 0.58
• Price to Book (P/B): 1.68
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -11.92
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $7.00
• Price Target Upside: 204.35% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

MaxCyte's overall score is impacted primarily by its financial challenges and weak technical indicators. Despite a strong equity position and promising SPL pipeline, persistent losses and negative cash flow weigh heavily. The negative market momentum and lack of dividend yield further detract from the stock's attractiveness. Management's confidence in their growth plan and strong cash reserves provide some support but are overshadowed by revenue declines and macroeconomic uncertainties.

Positive Factors

Financial Health

MXCT held $175M of cash and holds no debt, indicating a strong balance sheet.

Financial Performance

MXCT delivers Q1 beat, driven by its milestone segment, and reaffirms its 2025 guide.

Strategic Initiatives

Integration of SeQureDx is going well, and expands the company's breadth and service offerings.

Negative Factors

Customer Hesitation

Biopharma customers have become more hesitant to make capital purchases of its systems, and this trend intensified.

Revenue Guidance

The 2025 revenue guide was lower than expected, particularly for core organic growth.

Stock Performance

Shares are down 34% year-to-date reflecting broader market pressure on longer-duration assets, macro uncertainty, and its possible impact on MaxCyte’s customers.

MaxCyte Business Overview & Revenue Model

Company Description

MaxCyte, Inc., a global life sciences company, engages in the discovery, development, and commercialization of next-generation cell therapies. Its products include ExPERT ATx, a static electroporation instrument for small to medium scale transfection; ExPERT STx, a flow electroporation for protein production and drug development, as well as expression of therapeutic targets for cell-based assays; ExPERT GTx, a flow electroporation for large scale transfection in therapeutic applications; and ExPERT VLx for very large volume cell-engineering. The company also provides disposable processing assemblies (PAs) to process and electroporate cells; and accessories supporting PAs, such as electroporation buffer solution and software protocols. The company was incorporated in 1998 and is headquartered in Rockville, Maryland.

How the Company Makes Money

MaxCyte generates revenue primarily through the sale and licensing of its ExPERT flow electroporation platform and related technologies. The company's revenue streams include product sales, which involve selling its electroporation instruments and disposable processing assemblies, and licensing agreements with biotechnology and pharmaceutical companies that utilize its technology for cell therapy and gene editing applications. Additionally, MaxCyte benefits from strategic partnerships and collaborations with major industry players, which often involve upfront payments, milestone payments, and royalties on commercialized products created with its technology. These partnerships not only provide financial gains but also enhance the company's market presence and technological advancements.

MaxCyte Financial Statement Overview

Summary

MaxCyte faces significant financial challenges, with persistent losses and negative cash flows. The company maintains a strong equity position and low leverage, but its inability to generate positive net income and cash flow raises concerns about sustainability. Improvements in operational efficiency and revenue growth are essential.

Income Statement

MaxCyte's income statement reveals a challenging financial situation. The company has consistently reported negative EBIT and net income over the years, indicating ongoing operational losses. The revenue growth has been inconsistent, with a decline in the most recent year. Gross profit margins remain high, suggesting cost management at the gross level is effective, but this does not translate into profitability due to high operational expenses.

Balance Sheet

The balance sheet shows a strong equity base with a high equity ratio, reflecting low leverage. The debt-to-equity ratio is favorable, indicating the company is not heavily reliant on debt. However, the return on equity is negative due to recurring net losses, which is a concern for shareholders.

Cash Flow

Cash flow analysis highlights a negative operating and free cash flow, which has been a consistent trend. The operating cash flow to net income ratio is unfavorable, indicating inefficiencies in converting net income into cash. An increase in financing cash flow shows reliance on external funding to support operations.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
38.63M	41.29M	44.26M	33.89M	26.17M
	Gross Profit
31.53M	36.55M	39.16M	30.25M	23.40M
	EBIT
-51.20M	-48.30M	-27.36M	-18.19M	-11.06M
	EBITDA
-46.41M	-44.13M	-20.87M	-16.76M	-9.94M
	Net Income Common Stockholders
-41.05M	-37.92M	-19.78M	-20.13M	-12.64M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
154.48M	168.29M	227.34M	255.04M	34.76M
	Total Assets
239.47M	268.27M	286.65M	284.12M	51.78M
	Total Debt
18.03M	18.74M	16.09M	5.68M	6.97M
	Net Debt
-9.85M	-27.76M	5.03M	-42.10M	-11.79M
	Total Liabilities
33.22M	36.11M	32.69M	21.22M	18.55M
	Stockholders Equity
206.25M	232.17M	253.97M	262.90M	33.23M
Cash Flow		Free Cash Flow
-29.26M	-25.39M	-33.26M	-14.51M	-10.85M
	Operating Cash Flow
-27.61M	-21.69M	-14.78M	-10.68M	-8.78M
	Investing Cash Flow
6.93M	54.98M	-24.82M	-195.01M	-16.58M
	Financing Cash Flow
2.06M	2.14M	2.89M	234.72M	28.90M

MaxCyte Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MXCT, the sentiment is Negative. The current price of 2.3 is below the 20-day moving average (MA) of 2.61, below the 50-day MA of 2.77, and below the 200-day MA of 3.71, indicating a bearish trend. The MACD of -0.16 indicates Positive momentum. The RSI at 35.99 is Neutral, neither overbought nor oversold. The STOCH value of 17.19 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MXCT.

MaxCyte Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TCMD	60 Neutral	$241.78M	15.70	8.12%	―	5.96%	-43.83%
RCEL	55 Neutral	$170.77M	―	-407.50%	―	32.24%	-66.93%
SNWV	55 Neutral	$276.43M	―	0.65%	―	61.50%	34.99%
Sector *	52 Neutral	$5.15B	3.02	-44.64%	2.83%	16.44%	-0.47%
CVRX	52 Neutral	$165.30M	―	-76.01%	―	25.62%	11.86%
MXCT	45 Neutral	$244.53M	―	-19.62%	―	-14.48%	-12.34%
LUNG	43 Neutral	$138.08M	―	-60.68%	―	19.84%	5.77%

MaxCyte Corporate Events

MaxCyte Reports Q1 2025 Financial Results Amid Revenue Dip

On May 7, 2025, MaxCyte announced its financial results for the first quarter of 2025, showing a total revenue of $10.4 million, an 8% decrease from the previous year. The company reported core business revenue growth of 1% and a decline in Strategic Platform License (SPL) Program-related revenue. Despite a net loss of $10.3 million, MaxCyte remains confident in its growth prospects for 2025, driven by disciplined operational focus and strategic investments. The integration of SeQure Dx is progressing well, promising long-term opportunities in safety assessment services.

Spark’s Take on MXCT Stock

According to Spark, TipRanks’ AI Analyst, MXCT is a Neutral.

MaxCyte’s overall stock score reflects its significant financial challenges, including persistent losses and negative cash flows, which are partially offset by a strong equity position. Technical analysis indicates a bearish trend, and valuation metrics suggest the stock is overvalued. While there is some optimism from recent earnings call guidance, the overall outlook remains cautious due to macroeconomic uncertainties and revenue challenges.

To see Spark’s full report on MXCT stock, click here.

MaxCyte Reports 2024 Financial Results with Core Growth

On March 11, 2025, MaxCyte announced its financial results for the fourth quarter and full year of 2024, revealing a total revenue of $8.7 million for the fourth quarter, a 45% decrease from the previous year due to one-time milestones in 2023. Despite the overall revenue decline, the company saw a 20% increase in core business revenue, highlighting growth in its main operations. MaxCyte ended 2024 with 28 active Strategic Platform License agreements, and the company remains focused on strategic initiatives and disciplined investments to enhance its position in the cell engineering solutions market.