MaxCyte
Supplies ExPERT electroporation tools, consumables, licenses, and gene-editing assay services.
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Profile
Sells ExPERT instruments, Processing Assemblies, consumables, licenses, and assay services for cell therapy, bioprocessing, and research customers. Revenue comes through product sales, research and clinical licenses, and Strategic Platform License milestones within one cell-engineering technology segment.
Built on proprietary Flow Electroporation, the ExPERT platform spans DTx, ATx, STx, GTx, and VLx instruments, plus Processing Assemblies, electroporation buffers, software protocols, and accessories for cell-therapy, bioprocessing, drug-discovery, and research workflows.
Revenue comes from product sales, research and clinical license fees, Strategic Platform License program milestones, and SeQure gene-editing assay services. The business reports one segment, cell engineering technology, and works with biopharmaceutical customers that need scalable non-viral delivery.
Execution depends on converting platform use into recurring consumables, licenses, and milestone-linked programs. Customer development timelines, regulatory-reference support, and competition from larger life-science tool providers shape adoption.
Company facts
Key statistics
Year to date −21.0% · Average volume (30d) 796.8K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating |
|---|---|---|---|---|
| Aug 11, 2025 | BTIG | Downgrade | Buy | Neutral |
| Aug 7, 2025 | William Blair | Downgrade | Outperform | Market Perform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 12, 2026Q2 FY26 | −$0.09 | −$0.08 | +11.1% | $6.5M | $7.3M | +11.8% | +9.45% |
| May 12, 2026Q1 FY26 | −$0.10 | −$0.04 | +60.0% | $7.3M | $9.7M | +32.5% | +24.06% |
| Mar 24, 2026Q4 FY25 | −$0.08 | −$0.06 | +25.0% | $9.1M | $7.3M | −19.6% | −6.81% |
| Nov 12, 2025Q3 FY25 | −$0.11 | −$0.12 | −9.1% | $9.4M | $6.8M | −27.4% | −4.43% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $10.4M | $8.5M | $6.8M | $7.3M | $9.7M | $7.3M | |
| Gross profit | $8.9M | $7.0M | $6.3M | $5.7M | $7.1M | $5.6M | |
| Operating income | −$12.3M | −$14.2M | −$10.6M | −$7.7M | −$6.2M | −$10.2M | |
| Net income | −$10.3M | −$12.4M | −$12.4M | −$9.6M | −$4.8M | −$8.9M | |
| Diluted EPS | −$0.10 | −$0.12 | −$0.12 | −$0.09 | −$0.04 | −$0.08 | |
| Gross margin | 85.6% | 82.1% | 92.4% | 77.9% | 73.2% | 77.0% | |
| Operating margin | -118.3% | -167.2% | -154.8% | -105.1% | -64.1% | -140.7% |
Fiscal years (4-quarter sums)FY21 $33.9M · FY22 $44.3M · FY23 $41.3M · FY24 $38.6M · FY25 $33.0M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $105.7M · Total debt $17.3M · Total assets $184.7M · Shareholders' equity $158.8M
Dividends
No dividends on record.
Ownership
Shares outstanding 107.12M · Float 97.63M · 91.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 8.80M | 8.21% | 13F | May 13, 2026 |
| Capricorn Fund Managers Ltd | 8.20M | 7.65% | 13F | Apr 24, 2026 |
| Vitruvian Partners LLP | 5.04M | 4.71% | 13F | May 11, 2026 |
| Vanguard Capital Management LLC | 3.98M | 3.72% | 13F | May 15, 2026 |
| Morgan Stanley | 3.69M | 3.44% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 17, 2026 | Douglas J. Swirsky | officer: CHIEF FINANCIAL OFFICER | −10,142 | $0.8150 |
Peers
- Thermo Fisher Scientific
Scaled electroporation and cell-therapy workflow rival
- Bio-Rad Laboratories
Research electroporation systems and buffers for difficult cells
- Harvard Bioscience
BTX lab electroporation and electrofusion tools
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| MaxCyte | $1.21 | −1.02% | $130.7M | — | — | 4.2 | −14.5% |
| Thermo Fisher Scientific | $620.01 | −0.32% | $231.22B | 33.5 | 23.7 | 5.0 | +10.5% |
| Bio-Rad Laboratories | $387.70 | +0.02% | $10.44B | 47.0 | 37.6 | 4.0 | −0.1% |
| Harvard Bioscience | $7.93 | +0.25% | $35.8M | — | 43.9 | 0.4 | +11.1% |
| Median | 40.2 | 37.6 | 4.0 | +10.5% |