MaxCyte expects growth in core revenue for Q4 and full year 2024 By Investing.com

ROCKVILLE, MD – MaxCyte, Inc. (Nasdaq: MXCT ; LSE: MXCT ), a mobile engineering company, announced its preliminary unaudited financial results for the fourth quarter and full year ended December 31, 2024. The company expects fourth-quarter earnings of 8.3-8 .5 million, up from $7.2 million in the same period in 2023. For the full year, MaxCyte expects that the main revenue ranged from $32.2 million to $32.4 million, up 8 to 9 percent from $29.8 million last year.

The company’s total cash, cash equivalents and investments are expected to be around $190 million as of December 31, 2024. This is above initial guidance of $175 million and updated December guidance of $185 million, although this declines at the end of 2023. of the reported $211 million.

MaxCyte Chairman and CEO Maher Masood commented on the performance, noting that the company’s preliminary core revenue is in line with the higher end of the revised guidance range for 2024. Masood expressed confidence in the improving operating environment in the cell therapy industry and the company’s future prospects : He highlighted MaxCyte’s success in adding six new SPL customers, supporting the commercialization of the first non-viral gene-edited cell therapy product approved by the FDA. launch and achieving healthy revenue growth while streamlining operations.

The results are preliminary and unaudited and may be subject to adjustment during the company’s year-end closing processes.Final financial statements for the quarter and fiscal year ended December 31, 2024 are expected to be issued in March 2025 and included in MaxCyte’s annual report on Form 10-K. regarding.

MaxCyte specializes in cellular engineering technologies that support the development of cell-based therapies. Its ExpERT platform is designed to serve the cellular therapy market from research to commercialization. The company’s product line includes various instruments, disposables and software protocols that backed by a strong intellectual property portfolio.

This financial update is based on a press release, and final results will be available in the company’s upcoming annual report.

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