Overview

* MaxCyte ( MXCT ) Q3 revenue falls 16% yr/yr, maintaining full-year guidance

* Adjusted EBITDA beats analyst expectations, reflecting effective cost management

* Company expands SPL program with new agreement, adding Moonlight Bio

Outlook

* MaxCyte ( MXCT ) expects 2025 core revenue to be flat to a 10% decline vs 2024

* SPL Program-related revenue expected to be $5 mln for 2025

* Company anticipates ending 2025 with $152 mln to $155 mln in cash and investments

Result Drivers

* RESTRUCTURING - Co in the quarter announced operational restructuring to cut costs and accelerate profitability

* NEW SPL CLIENTS - Co added new SPL client Moonlight Bio, expanding total SPL agreements to 32

* DECREASED CORE REVENUE - Core business revenue fell 21% yr/yr due to lower sales in instruments, PAs, consumables, and licenses

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net -$12.40

Income mln

Q3 Beat -$10 mln -$10.12

Adjusted mln (5

EBITDA Analysts

)

Q3 Gross $5.20

Profit mln

Q3 $19.40

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

* Wall Street's median 12-month price target for MaxCyte Inc ( MXCT ) is $5.72, about 72.9% above its November 11 closing price of $1.55

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)