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MaxCyte
(NASDAQ:MXCT)
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Rating:57Neutral
Price Target:
$1.50
â–²(17.19% Upside)
Action:Reiterated
Date:10/15/26
The score is held back primarily by weak financial performance (large losses, negative free cash flow, and soft recent revenue trends) despite strong gross margins and low leverage. Offsetting this, the latest earnings call was moderately constructive (guidance reiterated, materially lower opex, strong cash position and buyback), and technicals are modestly supportive with the stock trading above key moving averages, though MACD remains negative. Valuation remains unattractive/uncertain due to negative earnings and no dividend.
Positive Factors
Strategic Genentech Partnership
The Genentech enterprise license broadens MaxCyte’s platform exposure across research, clinical development and cGMP manufacturing, while monetizing earlier in customer lifecycles. Wider deployment can deepen adoption and support recurring platform economics over the next several quarters.
Negative Factors
Persistent Revenue Contraction
Recent contraction in both total and core revenue shows that platform adoption and customer activity have not yet produced durable growth. Continued weakness would reduce operating leverage, delay breakeven and make future performance more dependent on uncertain partner milestones and royalties.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic Genentech Partnership
The Genentech enterprise license broadens MaxCyte’s platform exposure across research, clinical development and cGMP manufacturing, while monetizing earlier in customer lifecycles. Wider deployment can deepen adoption and support recurring platform economics over the next several quarters.
Read all positive factors
MaxCyte (MXCT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$144.49M
Dividend YieldN/A
Average Volume (3M)1.01M
Price to Earnings (P/E)―
Beta (1Y)0.92
Revenue Growth-13.15%
EPS Growth21.12%
CountryUS
Employees91
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.33
Shares Outstanding103,206,210
10 Day Avg. Volume2,352,495
30 Day Avg. Volume1,011,468
Financial Highlights & Ratios
PEG Ratio-0.48
Price to Book (P/B)0.96
Price to Sales (P/S)4.99
P/FCF Ratio-4.56
Enterprise Value/Market Cap0.30
Enterprise Value/Revenue1.38
Enterprise Value/Gross Profit1.74
Enterprise Value/Ebitda-1.39
Forecast
1Y Price Target
$4.00Price Target Upside212.50% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.28
Revenue Forecast (FY)$32.20M
MaxCyte Business Overview & Revenue Model
Company Description
MaxCyte, Inc., a life sciences company, discovers, develops, and commercializes cell therapeutics in the United States and internationally. The company's products consists of ExPERT ATx, a static electroporation instrument for small to medium scal...
How the Company Makes Money
MaxCyte primarily makes money by commercializing its cell-engineering platform through (1) product revenue and (2) partnership- and program-based revenue tied to customers’ therapeutic development success.
1) Product revenue (platform sales and r...
MaxCyte Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call portrayed a company that has stabilized near-term revenue, materially reduced operating expenses, and strengthened its strategic positioning through a large enterprise partnership (Genentech), while maintaining a strong balance sheet. These positives were offset by notable year-over-year revenue declines, gross margin pressure due to product mix, and prior partner/program headwinds. Management reiterated guidance and expects a return to growth in H2 2026, with further upside tied to SPL royalties and instrument adoption.Positive Updates
Stabilized Q2 Results with Sequential Growth
Total revenue of $7.3M in Q2 2026 (core $6.5M, SPL program-related $0.8M). Management reported sequential revenue growth in Q2 vs Q1 driven by instrument placements across the portfolio, including ExPERT DTx.
Negative Updates
Year-over-Year Revenue Declines
Total revenue declined 15% YoY (Q2 2026 $7.3M vs Q2 2025 $8.5M). Core revenue declined 21% YoY ($6.5M vs $8.2M).
Read all updates
Q2-2026 Updates
Positive
Negative
Stabilized Q2 Results with Sequential Growth
Total revenue of $7.3M in Q2 2026 (core $6.5M, SPL program-related $0.8M). Management reported sequential revenue growth in Q2 vs Q1 driven by instrument placements across the portfolio, including ExPERT DTx.
Read all positive updates
Company Guidance
MaxCyte reiterated 2026 guidance for total revenue of $30–32 million, comprised of $25–27 million of core revenue and $5 million of SPL milestones & royalties (guidance split: $3M milestones, $2M royalties, with $3M of milestone revenue already received in Q1); they expect low single‑digit year‑over‑year revenue growth in the back half of 2026 with typical seasonality (Q4 slightly higher than Q3), gross margins in the mid‑70s (Q2 GM was 77%), operating expenses to remain roughly flat at the current run‑rate (Q2 opex $15.8M vs $21.2M LY) with continued reduction in cash burn as revenue grows, and a strong balance sheet (Q2 cash & investments $141.9M, no debt, Board‑authorized $10M repurchase with ~$5.5M executed to date) while anticipating at least $130.5M in cash & investments at year‑end excluding further repurchases; management cited instrument placements (including DTx rollout), stable processing assembly demand, SeQure growth, and the Genentech enterprise partnership as the primary drivers of the outlook.MaxCyte Financial Statement Overview
Summary
Income Statement
23
Negative
Balance Sheet
64
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 31.05M | 33.03M | 38.63M | 41.29M | 44.26M | 33.89M |
| Gross Profit | 24.66M | 26.80M | 31.53M | 36.55M | 39.16M | 30.25M |
| EBITDA | -30.82M | -39.49M | -36.74M | -33.36M | -20.75M | -16.61M |
| Net Income | -35.64M | -44.63M | -41.05M | -37.92M | -23.57M | -19.08M |
Balance Sheet | ||||||
| Total Assets | 184.67M | 202.51M | 239.47M | 268.27M | 286.65M | 284.12M |
| Cash, Cash Equivalents and Short-Term Investments | 105.69M | 103.04M | 154.48M | 168.29M | 227.34M | 255.04M |
| Total Debt | 17.25M | 17.94M | 18.03M | 18.74M | 16.09M | 5.68M |
| Total Liabilities | 25.92M | 31.02M | 33.22M | 36.11M | 32.69M | 21.22M |
| Stockholders Equity | 158.75M | 171.49M | 206.25M | 232.17M | 253.97M | 262.90M |
Cash Flow | ||||||
| Free Cash Flow | -23.79M | -36.18M | -29.26M | -25.39M | -33.26M | -14.51M |
| Operating Cash Flow | -22.98M | -34.41M | -27.61M | -21.69M | -14.78M | -10.68M |
| Investing Cash Flow | 24.09M | 25.93M | 6.93M | 54.98M | -24.82M | -195.01M |
| Financing Cash Flow | -1.30M | 656.00K | 2.06M | 2.14M | 2.89M | 234.72M |
MaxCyte Technical Analysis
Positive
1.28
Price Trends
1.23
Positive
1.21
Positive
1.06
Positive
Market Momentum
0.06
Negative
64.79
Neutral
83.73
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MXCT, the sentiment is Positive. The current price of 1.28 is above the 20-day moving average (MA) of 1.19, above the 50-day MA of 1.23, and above the 200-day MA of 1.06, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 64.79 is Neutral, neither overbought nor oversold. The STOCH value of 83.73 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MXCT.
MaxCyte Risk Analysis
MaxCyte disclosed 74 risk factors in its most recent earnings report. MaxCyte reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MaxCyte Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
Performance Comparison
MaxCyte Corporate Events
Business Operations and StrategyStock BuybackFinancial Disclosures
MaxCyte Reports Q2 Results, Highlights Genentech Partnership
Negative
Aug 12, 2026
On August 12, 2026, MaxCyte reported second‑quarter 2026 revenue of $7.3 million, down 15% year on year, with core revenue falling 21% to $6.5 million and SPL program‑related revenue rising to $0.8 million. Gross profit slipped to $5.6...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.