MaxCyte flags full-year revenue at top end of expectations

(Sharecast News) - Cell-engineering platform technology company MaxCyte said in an update on Friday that it expected core revenue for the fourth quarter to range between $8.3m and $8.5m, up from $7.2m in the same period last year. The AIM-traded firm said that for the full year, core revenue was projected at between $32.2m and $32.4m, reflecting an 8% to 9% increase from the $29.8m recorded in 2023.

It said it would report further details on strategic platform licence (SPL) programme-related revenue and total revenue in March.

MaxCyte said its total cash, cash equivalents, and investments as of 31 December were estimated at about $190m, exceeding the company's initial guidance of $175m and revised guidance of $185m.

That would represent a decline from $211m at the end of 2023, however.

"MaxCyte reported preliminary core revenue for 2024 at the high end of the updated guidance range provided," said president and chief executive officer Maher Masoud.

"The operating environment in the cell therapy industry is improving as we move into 2025; and we remain confident in the opportunity that exists for MaxCyte in the years ahead.

"In 2024, we increased the number of SPL customers by six, supported the commercial launch of the first non-viral gene edited cell therapy product approved by the FDA, and returned to healthy revenue growth while streamlining operations."

At 1225 GMT, shares in MaxCyte were up 3.13% at 361.99p.

Reporting by Josh White for Sharecast.com.