What is MaxCyte's operating income?

MaxCyte's total operating income in 2025 was -$51.90 million, based on the following breakdown: Total Gross Profit: $26.80 million Total Operating Expenses: $78.70 million

MaxCyte (MXCT) Financials

$1.38 +0.05 (+3.76%)

Closing price 07/13/2026 04:00 PM Eastern

Extended Trading

$1.38 +0.01 (+0.36%)

As of 07/13/2026 06:51 PM Eastern

Compare

Annual Income Statements for MaxCyte

This table shows MaxCyte's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-13	-12	-19	-24	-38	-41	-45
Consolidated Net Income / (Loss)	-13	-12	-19	-24	-38	-41	-45
Net Income / (Loss) Continuing Operations	-13	-12	-19	-24	-38	-41	-45
Total Pre-Tax Income	-13	-12	-19	-24	-38	-41	-45
Total Operating Income	-12	-11	-18	-27	-48	-51	-52
Total Gross Profit	19	23	30	39	37	32	27
Total Revenue	22	26	34	44	41	39	33
Operating Revenue	22	26	34	44	41	39	33
Total Cost of Revenue	2.50	2.77	3.65	5.10	4.74	7.10	6.22
Operating Cost of Revenue	2.50	2.77	3.65	5.10	4.74	7.10	6.22
Total Operating Expenses	32	34	48	67	85	83	79
Selling, General & Admin Expense	5.56	7.37	19	26	30	30	28
Marketing Expense	7.85	8.33	13	19	27	27	19
Research & Development Expense	18	18	15	20	24	22	21
Depreciation Expense	0.54	1.03	1.35	2.53	3.99	4.14	4.23
Other Operating Expenses / (Income)	-	-	-	-	-	0.00	3.06
Impairment Charge	-	-	-	-	-	0.00	3.55
Total Other Income / (Expense), net	-0.48	-0.76	-0.89	3.79	10	10	7.27
Interest & Investment Income	0.21	0.07	0.15	3.92	10	10	7.27
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Basic Earnings per Share	($0.23)	($0.17)	($0.21)	($0.23)	($0.37)	($0.39)	($0.42)
Weighted Average Basic Shares Outstanding	56.40M	69.46M	90.62M	101.70M	103.27M	104.85M	106.43M
Diluted Earnings per Share	($0.23)	($0.17)	($0.21)	($0.23)	($0.37)	($0.39)	($0.42)
Weighted Average Diluted Shares Outstanding	56.40M	69.46M	90.62M	101.70M	103.27M	104.85M	106.43M
Weighted Average Basic & Diluted Shares Outstanding	-	-	101.51M	102.90M	104.13M	106.03M	106.86M

This table shows MaxCyte's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-11	-5.28	-9.53	-9.38	-12	-11	-10	-12	-12	-9.60	-4.75
Consolidated Net Income / (Loss)	-11	-5.28	-9.53	-9.38	-12	-11	-10	-12	-12	-9.60	-4.75
Net Income / (Loss) Continuing Operations	-11	-5.28	-9.53	-9.38	-12	-11	-10	-12	-12	-9.60	-4.75
Total Pre-Tax Income	-11	-5.28	-9.53	-9.38	-12	-11	-10	-12	-12	-9.60	-4.75
Total Operating Income	-14	-8.10	-12	-12	-14	-13	-12	-14	-14	-11	-6.19
Total Gross Profit	7.21	14	9.94	8.94	6.24	6.41	8.89	6.99	5.23	5.69	8.08
Total Revenue	8.00	16	11	10	8.16	8.69	10	8.51	6.83	7.30	9.65
Operating Revenue	8.00	16	11	10	8.16	8.69	10	8.51	6.83	7.30	9.65
Total Cost of Revenue	0.79	1.57	1.40	1.49	1.93	2.28	1.50	1.52	1.60	1.61	1.57
Operating Cost of Revenue	0.79	1.57	1.40	1.49	1.93	2.28	1.50	1.52	1.60	1.61	1.57
Total Operating Expenses	21	22	22	21	20	19	21	21	19	17	14
Selling, General & Admin Expense	6.82	8.09	7.10	7.64	7.75	7.21	8.53	8.08	6.03	5.48	5.97
Marketing Expense	7.05	7.20	7.37	6.62	6.21	6.47	5.70	5.79	3.94	3.50	3.43
Research & Development Expense	6.26	5.84	6.68	5.62	5.32	4.61	5.90	6.27	5.32	3.34	3.86
Depreciation Expense	1.03	1.06	1.07	1.03	1.02	1.02	1.06	1.08	1.04	1.04	1.02
Total Other Income / (Expense), net	2.70	2.82	2.75	2.59	2.50	2.30	2.03	1.87	1.73	1.63	1.44
Interest & Investment Income	2.70	2.82	2.75	2.59	2.50	2.30	2.03	1.87	1.73	1.63	1.44
Basic Earnings per Share	($0.11)	($0.05)	($0.09)	($0.09)	($0.11)	($0.10)	($0.10)	($0.12)	($0.12)	($0.08)	($0.04)
Weighted Average Basic Shares Outstanding	103.45M	103.27M	104.09M	104.64M	105.11M	104.85M	105.95M	106.40M	106.61M	106.43M	106.88M
Diluted Earnings per Share	($0.11)	-	-	($0.09)	($0.11)	-	($0.10)	($0.12)	($0.12)	-	($0.04)
Weighted Average Diluted Shares Outstanding	103.45M	103.27M	104.09M	104.64M	105.11M	104.85M	105.95M	106.40M	106.61M	106.43M	106.88M
Weighted Average Basic & Diluted Shares Outstanding	103.58M	104.13M	104.54M	105.09M	105.48M	106.03M	106.32M	106.61M	106.67M	106.86M	107.12M

This table details how cash moves in and out of MaxCyte's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	3.96	3.54	29	-37	35	-19	-7.82
Net Cash From Operating Activities	-8.80	-8.78	-11	-15	-22	-28	-34
Net Cash From Continuing Operating Activities	-8.80	-8.78	-11	-15	-22	-28	-34
Net Income / (Loss) Continuing Operations	-13	-12	-19	-24	-38	-41	-45
Consolidated Net Income / (Loss)	-13	-12	-19	-24	-38	-41	-45
Depreciation Expense	0.61	1.05	1.42	2.70	4.17	4.32	4.34
Amortization Expense	-0.03	-0.00	-0.07	-2.67	-6.73	-5.77	-1.84
Non-Cash Adjustments To Reconcile Net Income	2.37	3.46	4.95	11	17	15	14
Changes in Operating Assets and Liabilities, net	1.14	-1.47	2.10	-2.07	1.91	-0.04	-6.12
Net Cash From Investing Activities	0.45	-17	-195	-25	55	6.93	26
Net Cash From Continuing Investing Activities	0.45	-17	-195	-25	55	6.93	26
Purchase of Property, Plant & Equipment	-1.27	-2.07	-3.83	-18	-3.70	-1.65	-1.77
Acquisitions	-	-	-	-	-	0.00	-1.77
Purchase of Investments	-7.42	-23	-269	-291	-255	-151	-126
Sale and/or Maturity of Investments	9.15	8.00	78	285	314	159	156
Net Cash From Financing Activities	12	29	235	2.89	2.14	2.06	0.66
Net Cash From Continuing Financing Activities	12	29	235	2.89	2.14	2.06	0.66
Issuance of Common Equity	12	29	236	0.00	0.27	0.46	0.22
Other Financing Activities, net	0.13	0.34	3.57	2.89	1.87	1.60	0.43

This table details how cash moves in and out of MaxCyte's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-5.39	-2.67	-24	15	-0.56	-9.07	-4.50	-8.16	-2.25	7.09	-5.51
Net Cash From Operating Activities	-8.24	0.98	-11	-4.83	-4.39	-7.82	-14	-9.85	-7.46	-2.69	-8.17
Net Cash From Continuing Operating Activities	-8.24	0.98	-11	-4.83	-4.39	-7.82	-14	-9.85	-7.46	-2.69	-8.17
Net Income / (Loss) Continuing Operations	-11	-5.28	-9.53	-9.38	-12	-11	-10	-12	-12	-9.60	-4.75
Consolidated Net Income / (Loss)	-11	-5.28	-9.53	-9.38	-12	-11	-10	-12	-12	-9.60	-4.75
Depreciation Expense	1.08	1.10	1.11	1.08	1.07	1.06	1.10	1.10	1.07	1.07	1.05
Amortization Expense	-1.48	-1.60	-1.87	-1.68	-1.39	-0.72	-0.70	-0.55	-0.38	-0.21	-0.22
Non-Cash Adjustments To Reconcile Net Income	1.69	5.89	3.16	3.82	4.52	4.15	3.15	3.15	2.02	5.52	1.35
Changes in Operating Assets and Liabilities, net	1.73	0.87	-3.44	1.33	2.97	-1.71	-7.69	-1.19	2.24	0.52	-5.60
Net Cash From Investing Activities	2.81	-4.14	-14	19	3.61	-1.67	9.53	1.54	5.19	9.68	2.66
Net Cash From Continuing Investing Activities	2.81	-4.14	-14	19	3.61	-1.67	9.53	1.54	5.19	9.68	2.66
Purchase of Property, Plant & Equipment	-0.72	-0.92	-0.80	-0.29	-0.41	-0.15	-0.65	-0.58	-0.30	-0.23	-0.07
Acquisitions	-	-	0.00	-	-	-	-1.77	-	-	-	-0.15
Purchase of Investments	-81	-69	-48	-31	-39	-33	-35	-29	-35	-28	-25
Sale and/or Maturity of Investments	84	66	34	51	43	31	47	31	40	38	28
Net Cash From Financing Activities	0.04	0.49	0.70	0.71	0.23	0.41	0.38	0.15	0.01	0.11	0.01
Net Cash From Continuing Financing Activities	0.04	0.49	0.70	0.71	0.23	0.41	0.38	0.15	0.01	0.11	0.01
Other Financing Activities, net	0.04	0.22	0.70	0.45	0.23	0.22	0.38	0.02	0.01	0.02	0.01

This table presents MaxCyte's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	52	284	287	268	239	203
Total Current Assets	45	270	252	190	172	118
Cash & Equivalents	19	48	11	47	28	20
Short-Term Investments	16	207	216	122	127	83
Accounts Receivable	5.17	6.88	13	5.78	4.68	3.50
Inventories, net	4.32	5.20	8.58	12	8.91	7.55
Prepaid Expenses	1.00	3.31	3.26	3.90	3.61	4.28
Plant, Property, & Equipment, net	4.55	7.68	24	24	20	18
Total Noncurrent Assets	1.98	6.01	11	55	48	67
Long-Term Investments	-	-	0.00	43	36	53
Intangible Assets	-	-	-	-	0.00	0.65
Other Noncurrent Operating Assets	1.76	6.01	11	12	12	13
Total Liabilities & Shareholders' Equity	52	284	287	268	239	203
Total Liabilities	19	21	33	36	33	31
Total Current Liabilities	12	16	15	18	16	14
Accounts Payable	0.89	1.82	0.29	0.74	1.36	1.40
Accrued Expenses	5.31	6.52	8.27	11	8.30	7.81
Current Deferred Revenue	4.84	6.75	6.71	5.07	5.25	3.60
Other Current Liabilities	0.57	0.53	0.16	0.77	0.86	1.46
Total Noncurrent Liabilities	6.94	5.61	17	18	17	17
Other Noncurrent Operating Liabilities	2.02	5.61	17	18	17	17
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	33	263	254	232	206	171
Total Preferred & Common Equity	33	263	254	232	206	171
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	33	263	254	232	206	171
Common Stock	128	377	392	408	423	433
Retained Earnings	-95	-114	-138	-176	-217	-261

This table presents MaxCyte's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	286	282	271	267	258	251	249	230	220	213	194
Total Current Assets	252	246	237	214	179	176	173	156	143	125	123
Cash & Equivalents	43	38	55	49	22	38	37	23	15	13	15
Short-Term Investments	190	187	162	141	135	120	117	115	111	93	92
Accounts Receivable	8.21	9.29	7.61	8.17	5.99	4.58	4.56	5.53	5.75	8.31	4.25
Inventories, net	7.91	10	11	13	12	11	10	8.27	7.93	7.61	7.63
Prepaid Expenses	3.28	2.23	1.88	3.40	3.21	2.58	4.12	3.68	2.97	3.00	4.21
Plant, Property, & Equipment, net	23	25	24	24	23	22	21	20	19	19	17
Total Noncurrent Assets	11	10	10	29	56	54	55	54	57	70	55
Long-Term Investments	-	-	-	18	45	42	43	36	39	52	41
Intangible Assets	-	-	-	-	-	-	-	0.50	0.64	0.67	0.78
Other Noncurrent Operating Assets	11	10	10	10	11	12	12	13	14	14	13
Total Liabilities & Shareholders' Equity	286	282	271	267	258	251	249	230	220	213	194
Total Liabilities	32	34	30	33	32	30	35	31	29	33	27
Total Current Liabilities	17	17	13	17	13	12	18	13	12	16	10
Accounts Payable	2.09	3.50	1.60	0.45	1.67	0.95	1.87	2.28	1.21	1.29	1.20
Accrued Expenses	8.23	6.91	6.41	9.92	6.50	7.08	8.20	5.03	6.40	8.31	4.37
Current Deferred Revenue	6.29	5.75	4.69	5.59	4.48	3.37	6.65	4.15	2.64	5.20	3.27
Other Current Liabilities	0.15	0.48	0.50	0.70	0.83	0.88	0.91	1.28	1.31	1.31	1.37
Total Noncurrent Liabilities	15	17	17	17	18	18	18	18	17	17	16
Other Noncurrent Operating Liabilities	15	17	17	17	18	18	18	18	17	17	16
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	254	248	241	233	226	221	213	199	191	180	168
Total Preferred & Common Equity	254	248	241	233	226	221	213	199	191	180	168
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	254	248	241	233	226	221	213	199	191	180	168
Common Stock	387	397	400	404	412	416	420	427	430	432	434
Retained Earnings	-133	-149	-159	-171	-185	-195	-206	-227	-239	-252	-266

This table displays calculated financial ratios and metrics derived from MaxCyte's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	0.00	100,434,032.00	-	-	-	106,674,011.00
DEI Adjusted Shares Outstanding	0.00	0.00	100,434,032.00	-	-	-	106,674,011.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	-0.19	-	-	-	-0.42
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	21.04%	29.52%	30.59%	-6.72%	-6.45%	-14.50%
EBITDA Growth	0.00%	15.43%	-68.13%	-62.34%	-86.07%	-3.53%	6.17%
EBIT Growth	0.00%	10.98%	-64.50%	-50.43%	-76.53%	-6.00%	-1.37%
NOPAT Growth	0.00%	10.98%	-64.50%	-50.43%	-76.53%	-6.00%	-1.37%
Net Income Growth	0.00%	8.36%	-61.49%	-23.52%	-60.89%	-8.26%	-8.71%
EPS Growth	0.00%	26.09%	-23.53%	-9.52%	-60.87%	-5.41%	-7.69%
Operating Cash Flow Growth	0.00%	0.23%	-21.61%	-38.42%	-46.70%	-27.32%	-24.63%
Free Cash Flow Firm Growth	0.00%	0.00%	-54.74%	-120.44%	25.85%	-9.82%	-17.26%
Invested Capital Growth	0.00%	0.00%	132.37%	239.07%	-21.36%	-23.65%	-0.70%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	5.41%	8.52%	-15.29%	-4.04%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-11.28%	-2.53%	-7.27%	4.90%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-7.02%	-2.86%	-10.36%	3.13%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-7.02%	-2.86%	-10.36%	3.13%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.27%	-1.25%	-14.88%	2.19%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-4.55%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	8.18%	-53.08%	24.58%	-46.80%	12.98%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	21.94%	-26.37%	15.97%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	23.58%	-15.24%	-4.11%	-28.72%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	88.44%	89.43%	89.24%	88.48%	88.51%	81.62%	81.16%
EBITDA Margin	-54.76%	-38.26%	-49.67%	-61.75%	-123.17%	-136.30%	-149.58%
Operating Margin	-57.44%	-42.25%	-53.66%	-61.82%	-116.98%	-132.54%	-157.14%
EBIT Margin	-57.44%	-42.25%	-53.66%	-61.82%	-116.98%	-132.54%	-157.14%
Profit (Net Income) Margin	-59.64%	-45.15%	-56.30%	-53.25%	-91.85%	-106.29%	-135.14%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	103.82%	106.87%	104.91%	86.15%	78.52%	80.19%	86.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-458.01%	-226.69%	-111.09%	-142.15%	-194.09%	-228.02%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-430.69%	-222.23%	-109.26%	-140.27%	-191.49%	-223.22%
Return on Net Nonoperating Assets (RNNOA)	0.00%	386.88%	213.80%	101.97%	126.55%	175.36%	204.39%
Return on Equity (ROE)	0.00%	-71.13%	-12.89%	-9.12%	-15.60%	-18.73%	-23.63%
Cash Return on Invested Capital (CROIC)	0.00%	-658.01%	-306.34%	-219.99%	-118.24%	-167.27%	-227.32%
Operating Return on Assets (OROA)	0.00%	-21.35%	-10.83%	-9.59%	-17.41%	-20.17%	-23.48%
Return on Assets (ROA)	0.00%	-22.82%	-11.36%	-8.26%	-13.67%	-16.17%	-20.20%
Return on Common Equity (ROCE)	0.00%	-71.13%	-12.89%	-9.12%	-15.60%	-18.73%	-23.63%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-35.56%	-7.26%	-9.28%	-16.33%	-19.91%	0.00%
Net Operating Profit after Tax (NOPAT)	-8.69	-7.74	-13	-19	-34	-36	-36
NOPAT Margin	-40.21%	-29.58%	-37.56%	-43.27%	-81.89%	-92.78%	-110.00%
Net Nonoperating Expense Percent (NNEP)	0.00%	-27.32%	-4.46%	-1.83%	-1.88%	-2.60%	-4.80%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-14.56%	-17.38%	-21.18%
Cost of Revenue to Revenue	11.56%	10.57%	10.76%	11.52%	11.49%	18.38%	18.84%
SG&A Expenses to Revenue	25.70%	28.16%	55.10%	58.36%	72.83%	76.87%	85.13%
R&D to Revenue	81.37%	67.77%	45.46%	44.09%	57.69%	57.54%	63.05%
Operating Expenses to Revenue	145.89%	131.68%	142.90%	150.30%	205.50%	214.16%	238.30%
Earnings before Interest and Taxes (EBIT)	-12	-11	-18	-27	-48	-51	-52
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-12	-10	-17	-27	-51	-53	-49
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.59	3.89	2.19	2.10	2.13	0.96
Price to Tangible Book Value (P/TBV)	0.00	0.59	3.89	2.19	2.10	2.13	0.97
Price to Revenue (P/Rev)	0.90	0.75	30.19	12.59	11.79	11.36	5.01
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	97.84	12.39	13.16	15.55	0.61
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	22.67	7.45	6.67	6.43	0.29
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.15	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.15	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.00	-0.90	-0.96	-0.93	-0.90	-0.92	-0.92
Leverage Ratio	0.00	1.56	1.13	1.10	1.14	1.16	1.17
Compound Leverage Factor	0.00	1.67	1.19	0.95	0.90	0.93	1.01
Debt to Total Capital	0.00%	12.89%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	12.89%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	87.11%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	-0.49	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	2.98	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	-0.49	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	-0.64	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	3.86	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	-0.64	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	-1.36	29.35	10.39	7.50	6.90	1.33
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	3.90	17.32	16.35	10.65	10.88	8.30
Quick Ratio	0.00	3.44	16.77	15.58	9.75	10.09	7.47
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-11	-17	-38	-28	-31	-36
Operating Cash Flow to CapEx	-692.40%	-423.83%	-278.87%	-80.01%	-587.54%	-1,672.32%	-1,946.27%
Free Cash Flow to Firm to Interest Expense	0.00	-13.47	-16.47	-298.64	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-12.92	-10.64	-10.23	-116.40	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-14.79	-13.15	-13.89	-261.89	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.51	0.20	0.16	0.15	0.15	0.15
Accounts Receivable Turnover	0.00	5.06	5.63	4.43	4.38	7.39	8.07
Inventory Turnover	0.00	0.64	0.77	0.74	0.46	0.67	0.76
Fixed Asset Turnover	0.00	5.76	5.54	2.82	1.75	1.79	1.77
Accounts Payable Turnover	0.00	3.11	2.69	4.83	9.16	6.76	4.51
Days Sales Outstanding (DSO)	0.00	72.14	64.88	82.32	83.39	49.42	45.23
Days Inventory Outstanding (DIO)	0.00	569.31	476.36	493.50	800.89	543.46	482.82
Days Payable Outstanding (DPO)	0.00	117.43	135.62	75.62	39.83	54.00	80.93
Cash Conversion Cycle (CCC)	0.00	524.01	405.61	500.20	844.44	538.88	447.13
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	3.38	7.85	27	21	16	16
Invested Capital Turnover	0.00	15.49	6.03	2.57	1.74	2.09	2.07
Increase / (Decrease) in Invested Capital	0.00	3.38	4.47	19	-5.69	-4.95	-0.11
Enterprise Value (EV)	0.00	-10	768	330	276	249	9.73
Market Capitalization	20	20	1,023	557	487	439	165
Book Value per Share	$0.00	$0.48	$2.62	$2.49	$2.24	$1.96	$1.61
Tangible Book Value per Share	$0.00	$0.48	$2.62	$2.49	$2.24	$1.96	$1.60
Total Capital	0.00	38	263	254	232	206	171
Total Debt	0.00	4.92	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	4.92	0.00	0.00	0.00	0.00	0.00
Net Debt	0.00	-30	-255	-227	-211	-190	-156
Capital Expenditures (CapEx)	1.27	2.07	3.83	18	3.69	1.65	1.77
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-1.12	-0.23	9.50	4.05	1.43	1.06
Debt-free Net Working Capital (DFNWC)	0.00	34	255	237	172	156	104
Net Working Capital (NWC)	0.00	34	255	237	172	156	104
Net Nonoperating Expense (NNE)	4.20	4.08	6.35	4.42	4.11	5.22	8.30
Net Nonoperating Obligations (NNO)	0.00	-30	-255	-227	-211	-190	-156
Total Depreciation and Amortization (D&A)	0.58	1.04	1.35	0.03	-2.55	-1.45	2.50
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-4.29%	-0.68%	21.46%	9.81%	3.69%	3.20%
Debt-free Net Working Capital to Revenue	0.00%	128.55%	751.80%	535.10%	417.41%	403.63%	315.21%
Net Working Capital to Revenue	0.00%	128.55%	751.80%	535.10%	417.41%	403.63%	315.21%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.21)	($0.23)	($0.37)	($0.39)	($0.42)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	90.62M	101.70M	103.27M	104.85M	106.43M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.21)	($0.23)	($0.37)	($0.39)	($0.42)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	90.62M	101.70M	103.27M	104.85M	106.43M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	101.51M	102.90M	104.13M	106.03M	106.86M
Normalized Net Operating Profit after Tax (NOPAT)	-8.69	-7.74	-13	-19	-34	-36	-34
Normalized NOPAT Margin	-40.21%	-29.58%	-37.56%	-43.27%	-81.89%	-92.78%	-102.47%
Pre Tax Income Margin	-59.64%	-45.15%	-56.30%	-53.25%	-91.85%	-106.29%	-135.14%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	-18.24	-13.39	-17.42	-215.44	0.00	0.00	0.00
NOPAT to Interest Expense	-12.76	-9.37	-12.19	-150.81	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-20.10	-15.90	-21.08	-360.93	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-14.63	-11.88	-15.86	-296.30	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from MaxCyte's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	106,027,733.00	106,318,532.00	106,606,648.00	106,674,011.00	106,861,428.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	106,027,733.00	106,318,532.00	106,606,648.00	106,674,011.00	106,861,428.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-0.10	-0.12	-0.12	-0.09	-0.04
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-24.79%	26.10%	32.25%	15.33%	2.00%	-44.51%	-8.39%	-18.43%	-16.35%	-16.01%	-7.11%
EBITDA Growth	-81.20%	-17.11%	5.73%	9.95%	-0.15%	-46.10%	8.66%	-7.85%	4.06%	19.72%	55.02%
EBIT Growth	-80.91%	-19.92%	6.85%	8.45%	-0.72%	-59.35%	-0.16%	-18.88%	-0.68%	12.98%	49.70%
NOPAT Growth	-80.91%	-19.92%	6.85%	8.45%	-0.72%	-59.35%	-0.16%	-18.88%	-0.68%	12.98%	49.70%
Net Income Growth	-74.88%	-9.73%	12.46%	10.82%	-2.72%	-100.78%	-7.72%	-31.81%	-7.43%	9.45%	53.71%
EPS Growth	-83.33%	0.00%	0.00%	10.00%	0.00%	0.00%	0.00%	-33.33%	-9.09%	0.00%	60.00%
Operating Cash Flow Growth	-39.13%	116.12%	-144.31%	52.16%	46.70%	-897.25%	-36.42%	-103.81%	-69.85%	65.62%	43.31%
Free Cash Flow Firm Growth	30.93%	100.08%	50.32%	72.73%	86.06%	-20,694.44%	-2.91%	-184.02%	-760.06%	-89.96%	101.77%
Invested Capital Growth	14.67%	-21.36%	2.80%	-13.76%	-32.52%	-23.65%	3.80%	19.17%	33.59%	-0.70%	-18.20%
Revenue Q/Q Growth	-11.49%	95.71%	-27.59%	-8.05%	-21.72%	6.47%	19.54%	-18.12%	-19.72%	6.90%	32.21%
EBITDA Q/Q Growth	-2.83%	40.11%	-46.24%	4.40%	-14.36%	12.63%	7.82%	-14.95%	1.67%	22.94%	48.35%
EBIT Q/Q Growth	-6.72%	41.97%	-51.63%	2.50%	-17.42%	8.20%	4.70%	-15.71%	0.55%	20.66%	44.90%
NOPAT Q/Q Growth	-6.72%	41.97%	-51.63%	2.50%	-17.42%	8.20%	4.70%	-15.71%	0.55%	20.66%	44.90%
Net Income Q/Q Growth	-7.03%	53.09%	-80.51%	1.59%	-23.27%	8.31%	3.17%	-20.43%	-0.48%	22.71%	50.50%
EPS Q/Q Growth	-10.00%	0.00%	0.00%	0.00%	-22.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	18.48%	111.91%	-1,176.09%	54.24%	9.16%	-78.11%	-84.26%	31.64%	24.30%	63.94%	-203.79%
Free Cash Flow Firm Q/Q Growth	28.84%	100.15%	-45,646.57%	46.40%	63.61%	-126.20%	-133.23%	-47.94%	-10.19%	50.04%	102.18%
Invested Capital Q/Q Growth	-0.67%	-15.24%	13.72%	-9.93%	-22.27%	-4.11%	54.61%	3.41%	-12.86%	-28.72%	27.37%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	90.09%	89.96%	87.63%	85.73%	76.38%	73.76%	85.59%	82.14%	76.63%	77.95%	83.74%
EBITDA Margin	-179.32%	-54.87%	-115.91%	-120.52%	-176.07%	-144.49%	-114.55%	-160.82%	-196.98%	-142.00%	-55.48%
Operating Margin	-174.31%	-51.68%	-108.23%	-114.76%	-172.13%	-148.42%	-118.33%	-167.24%	-207.19%	-153.78%	-64.09%
EBIT Margin	-174.31%	-51.68%	-108.23%	-114.76%	-172.13%	-148.42%	-118.33%	-167.24%	-207.19%	-153.78%	-64.09%
Profit (Net Income) Margin	-140.57%	-33.69%	-83.99%	-89.89%	-141.56%	-121.92%	-98.76%	-145.26%	-181.81%	-131.45%	-49.22%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	80.64%	65.19%	77.60%	78.33%	82.24%	82.14%	83.46%	86.86%	87.75%	85.48%	76.80%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-200.73%	-62.80%	-142.08%	-157.59%	-265.56%	-217.35%	-128.60%	-178.06%	-256.34%	-223.14%	-64.46%
ROIC Less NNEP Spread (ROIC-NNEP)	-200.06%	-62.98%	-141.64%	-157.11%	-264.71%	-216.57%	-127.73%	-176.75%	-254.93%	-222.14%	-64.20%
Return on Net Nonoperating Assets (RNNOA)	181.09%	56.82%	127.61%	141.37%	240.19%	198.33%	113.17%	156.58%	229.70%	203.40%	56.34%
Return on Equity (ROE)	-19.64%	-5.99%	-14.47%	-16.22%	-25.37%	-19.02%	-15.44%	-21.48%	-26.64%	-19.74%	-8.12%
Cash Return on Invested Capital (CROIC)	-155.79%	-118.24%	-144.00%	-125.12%	-118.12%	-167.27%	-151.46%	-176.74%	-221.33%	-227.32%	-122.62%
Operating Return on Assets (OROA)	-23.98%	-7.69%	-17.68%	-19.95%	-30.46%	-22.58%	-18.28%	-25.38%	-30.86%	-22.98%	-9.75%
Return on Assets (ROA)	-19.34%	-5.01%	-13.72%	-15.63%	-25.05%	-18.55%	-15.25%	-22.04%	-27.08%	-19.65%	-7.49%
Return on Common Equity (ROCE)	-19.64%	-5.99%	-14.47%	-16.22%	-25.37%	-19.02%	-15.44%	-21.48%	-26.64%	-19.74%	-8.12%
Return on Equity Simple (ROE_SIMPLE)	-16.05%	0.00%	-16.15%	-16.01%	-16.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-9.77	-5.67	-8.59	-8.38	-9.84	-9.03	-8.61	-9.96	-9.90	-7.86	-4.33
NOPAT Margin	-122.02%	-36.18%	-75.76%	-80.33%	-120.49%	-103.90%	-82.83%	-117.07%	-145.03%	-107.65%	-44.86%
Net Nonoperating Expense Percent (NNEP)	-0.67%	0.18%	-0.44%	-0.48%	-0.85%	-0.78%	-0.88%	-1.31%	-1.42%	-1.00%	-0.26%
Return On Investment Capital (ROIC_SIMPLE)	-	-2.44%	-	-	-	-4.38%	-4.32%	-5.22%	-5.49%	-4.58%	-2.58%
Cost of Revenue to Revenue	9.91%	10.04%	12.37%	14.27%	23.62%	26.24%	14.41%	17.86%	23.37%	22.05%	16.26%
SG&A Expenses to Revenue	85.21%	51.62%	62.63%	73.25%	94.87%	82.90%	82.06%	94.98%	88.27%	75.10%	61.82%
R&D to Revenue	78.26%	37.29%	58.88%	53.88%	65.12%	53.08%	56.81%	73.69%	77.84%	45.68%	39.96%
Operating Expenses to Revenue	264.41%	141.64%	195.86%	200.49%	248.52%	222.18%	203.93%	249.38%	283.82%	231.73%	147.83%
Earnings before Interest and Taxes (EBIT)	-14	-8.10	-12	-12	-14	-13	-12	-14	-14	-11	-6.19
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-14	-8.60	-13	-13	-14	-13	-12	-14	-13	-10	-5.35
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.38	2.10	1.93	1.85	1.92	2.13	1.45	1.22	0.93	0.96	0.45
Price to Tangible Book Value (P/TBV)	1.38	2.10	1.93	1.85	1.92	2.13	1.48	1.24	0.96	0.97	0.45
Price to Revenue (P/Rev)	8.49	11.79	9.90	9.02	8.96	11.36	7.68	6.48	4.89	5.01	2.33
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	4.62	13.16	9.82	9.79	12.73	15.55	4.64	2.61	0.47	0.61	0.00
Enterprise Value to Revenue (EV/Rev)	3.00	6.67	5.31	4.62	4.65	6.43	3.05	1.86	0.30	0.29	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.91	-0.90	-0.90	-0.90	-0.91	-0.92	-0.89	-0.89	-0.90	-0.92	-0.88
Leverage Ratio	1.13	1.14	1.14	1.13	1.15	1.16	1.15	1.14	1.17	1.17	1.16
Compound Leverage Factor	0.91	0.74	0.88	0.89	0.95	0.95	0.96	0.99	1.03	1.00	0.89
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	5.77	8.00	8.07	7.85	6.53	7.42	5.04	3.93	1.94	1.99	0.53
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	12.87	10.65	13.26	14.31	9.81	10.88	12.23	12.39	7.74	8.30	12.04
Quick Ratio	11.92	9.75	12.13	13.19	8.99	10.09	11.29	11.45	7.08	7.47	10.88
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-13	0.02	-9.24	-4.95	-1.80	-4.08	-9.51	-14	-16	-7.75	0.17
Operating Cash Flow to CapEx	-1,144.17%	107.21%	-1,313.93%	-1,644.22%	-1,081.53%	-5,320.41%	-2,206.89%	-1,686.99%	-2,486.00%	-1,164.07%	-11,345.83%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.14	0.15	0.16	0.17	0.18	0.15	0.15	0.15	0.15	0.15	0.15
Accounts Receivable Turnover	4.65	4.38	5.77	7.46	7.17	7.39	6.54	6.92	5.35	8.07	6.61
Inventory Turnover	0.46	0.46	0.46	0.47	0.56	0.67	0.71	0.76	0.77	0.76	0.79
Fixed Asset Turnover	1.63	1.75	1.85	1.97	2.04	1.79	1.76	1.74	1.74	1.77	1.77
Accounts Payable Turnover	3.72	9.16	1.99	4.11	5.53	6.76	3.64	6.68	4.38	4.51	3.62
Days Sales Outstanding (DSO)	78.55	83.39	63.31	48.95	50.93	49.42	55.78	52.75	68.22	45.23	55.23
Days Inventory Outstanding (DIO)	791.31	800.89	788.35	769.97	654.56	543.46	513.30	482.25	476.68	482.82	461.18
Days Payable Outstanding (DPO)	98.06	39.83	183.60	88.73	66.00	54.00	100.28	54.64	83.43	80.93	100.76
Cash Conversion Cycle (CCC)	771.80	844.44	668.05	730.20	639.50	538.88	468.81	480.37	461.47	447.13	415.65
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	25	21	24	21	17	16	25	26	22	16	20
Invested Capital Turnover	1.65	1.74	1.88	1.96	2.20	2.09	1.55	1.52	1.77	2.07	1.44
Increase / (Decrease) in Invested Capital	3.16	-5.69	0.65	-3.42	-8.03	-4.95	0.90	4.11	5.60	-0.11	-4.50
Enterprise Value (EV)	114	276	234	210	212	249	115	67	10	9.73	-73
Market Capitalization	323	487	436	410	409	439	289	232	168	165	75
Book Value per Share	$2.25	$2.24	$2.17	$2.12	$2.03	$1.96	$1.88	$1.79	$1.69	$1.61	$1.57
Tangible Book Value per Share	$2.25	$2.24	$2.17	$2.12	$2.03	$1.96	$1.84	$1.75	$1.65	$1.60	$1.56
Total Capital	233	232	226	221	213	206	199	191	180	171	168
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-209	-211	-203	-200	-197	-190	-175	-165	-158	-156	-148
Capital Expenditures (CapEx)	0.72	0.92	0.80	0.29	0.41	0.15	0.65	0.58	0.30	0.23	0.07
Debt-free, Cash-free Net Working Capital (DFCFNWC)	7.45	4.05	7.68	6.04	1.46	1.43	4.75	5.10	2.82	1.06	5.87
Debt-free Net Working Capital (DFNWC)	198	172	165	163	155	156	143	132	109	104	113
Net Working Capital (NWC)	198	172	165	163	155	156	143	132	109	104	113
Net Nonoperating Expense (NNE)	1.48	-0.39	0.93	1.00	1.72	1.57	1.65	2.40	2.51	1.74	0.42
Net Nonoperating Obligations (NNO)	-209	-211	-203	-200	-197	-190	-175	-165	-158	-156	-148
Total Depreciation and Amortization (D&A)	-0.40	-0.50	-0.87	-0.60	-0.32	0.34	0.39	0.55	0.70	0.86	0.83
Debt-free, Cash-free Net Working Capital to Revenue	19.58%	9.81%	17.44%	13.30%	3.19%	3.69%	12.59%	14.27%	8.18%	3.20%	18.18%
Debt-free Net Working Capital to Revenue	519.61%	417.41%	374.99%	359.53%	340.54%	403.63%	379.60%	368.26%	315.37%	315.21%	349.13%
Net Working Capital to Revenue	519.61%	417.41%	374.99%	359.53%	340.54%	403.63%	379.60%	368.26%	315.37%	315.21%	349.13%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.11)	($0.05)	($0.09)	($0.09)	($0.11)	($0.10)	($0.10)	($0.12)	($0.12)	($0.08)	($0.04)
Adjusted Weighted Average Basic Shares Outstanding	103.45M	103.27M	104.09M	104.64M	105.11M	104.85M	105.95M	106.40M	106.61M	106.43M	106.88M
Adjusted Diluted Earnings per Share	($0.11)	$0.00	$0.00	($0.09)	($0.11)	$0.00	$0.00	($0.12)	($0.12)	$0.00	($0.04)
Adjusted Weighted Average Diluted Shares Outstanding	103.45M	103.27M	104.54M	104.64M	105.11M	104.85M	105.95M	106.40M	106.61M	106.43M	106.88M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	103.58M	104.13M	104.54M	105.09M	105.48M	106.03M	106.32M	106.61M	106.67M	106.86M	107.12M
Normalized Net Operating Profit after Tax (NOPAT)	-9.77	-5.67	-8.59	-8.38	-9.84	-9.03	-8.61	-9.96	-9.90	-7.86	-4.33
Normalized NOPAT Margin	-122.02%	-36.18%	-75.76%	-80.33%	-120.49%	-103.90%	-82.83%	-117.07%	-145.03%	-107.65%	-44.86%
Pre Tax Income Margin	-140.57%	-33.69%	-83.99%	-89.89%	-141.56%	-121.92%	-98.76%	-145.26%	-181.81%	-131.45%	-49.22%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

MaxCyte (NASDAQ: MXCT) continues to operate with a strong balance sheet, but its latest quarter shows the business is still not profitable and is burning cash from operations. For Q1 2026, revenue came in at $9.7 million, up from $7.3 million in Q4 2025 and $6.8 million in Q3 2025, but the company still reported a net loss of $4.8 million. Operating cash flow was negative $8.2 million, though this was an improvement from the prior quarter’s negative $2.7 million and the negative $7.5 million in Q3 2025.

Top-line momentum looks better than it did a year ago, but expenses remain heavy. Revenue in Q1 2026 rose 40% year over year from $6.9 million in Q1 2025. However, operating expenses still totaled $14.3 million, which pushed operating income to a loss of $6.2 million. That’s an improvement from the $11.2 million operating loss in Q4 2025, but it’s still a wide gap between revenue and costs.

The company’s cash position remains a key strength. As of March 31, 2026, MaxCyte had $14.6 million in cash and equivalents plus $92.3 million in short-term investments and $40.8 million in long-term investments. Total current assets were $122.9 million, and total assets were $194.5 million. Against total liabilities of $26.6 million, the balance sheet still looks conservative.

Here are the most important takeaways for investors:

Revenue improved sequentially and year over year, rising to $9.7 million in Q1 2026 from $7.3 million in Q4 2025 and $6.8 million in Q1 2025.
Gross profit remains solid, with Q1 2026 gross profit of $8.1 million and gross margin near 84%.
MaxCyte still has substantial liquidity, with more than $147 million in cash and investments combined.
Debt appears manageable, with total liabilities of $26.6 million versus $167.9 million in equity.
Operating loss improved sequentially from $11.2 million in Q4 2025 to $6.2 million in Q1 2026.
Investment income continues to help offset losses, with $1.4 million of interest and investment income in Q1 2026.
The company continues to generate some balance-sheet flexibility from investments, as sales/maturities exceeded purchases in Q1 2026.
The company is still losing money, posting a net loss of $4.8 million in Q1 2026.
Operating cash flow was negative at $8.2 million in Q1 2026, showing the core business is still consuming cash.
Operating expenses remain elevated, especially SG&A, marketing, and R&D, which together far exceed gross profit.

Looking at the last four years, the trend is mixed. Revenue has been volatile, with quarterly sales ranging from the low $6 million area in 2025 to more than $15 million in Q4 2023. At the same time, MaxCyte has consistently posted quarterly losses, and retained earnings have become increasingly negative, reaching $266.2 million at the end of Q1 2026. That tells investors the company has historically depended on external capital and investment income while it tries to scale the business.

Bottom line: MaxCyte has a strong cash cushion and a high gross margin model, but profitability is still a long way off. Investors will likely want to see sustained revenue growth and tighter operating expense control before the stock’s fundamentals turn meaningfully positive.

07/14/26 04:00 AM ETAI Generated. May Contain Errors.

MaxCyte Financials - Frequently Asked Questions

According to the most recent income statement we have on file, MaxCyte's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

MaxCyte's net income appears to be on an upward trend, with a most recent value of -$44.63 million in 2025, rising from -$12.90 million in 2019. The previous period was -$41.06 million in 2024. See MaxCyte's forecast for analyst expectations on what's next for the company.

MaxCyte's total operating income in 2025 was -$51.90 million, based on the following breakdown:

Total Gross Profit: $26.80 million
Total Operating Expenses: $78.70 million

Over the last 6 years, MaxCyte's total revenue changed from $21.62 million in 2019 to $33.03 million in 2025, a change of 52.8%.

MaxCyte's total liabilities were at $31.02 million at the end of 2025, a 6.6% decrease from 2024, and a 67.2% increase since 2020.

In the past 5 years, MaxCyte's cash and equivalents has ranged from $11.07 million in 2022 to $47.78 million in 2021, and is currently $20.07 million as of their latest financial filing in 2025.

Over the last 6 years, MaxCyte's book value per share changed from 0.00 in 2019 to 1.61 in 2025, a change of 160.8%.

Related Companies

Financial statements for NASDAQ:MXCT last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Unlock superior investment research and tools.

Get MarketBeat All Access

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

MaxCyte (MXCT) Financials

Financials Breakdown Chart

Key Financial Trends

MaxCyte Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

MaxCyte (MXCT) Financials

Annual Income Statements for MaxCyte

Quarterly Income Statements for MaxCyte

Annual Cash Flow Statements for MaxCyte

Quarterly Cash Flow Statements for MaxCyte

Annual Balance Sheets for MaxCyte

Quarterly Balance Sheets for MaxCyte

Annual Metrics And Ratios for MaxCyte

Quarterly Metrics And Ratios for MaxCyte

Financials Breakdown Chart

Key Financial Trends

MaxCyte Financials - Frequently Asked Questions

When does MaxCyte's fiscal year end?

How has MaxCyte's net income changed over the last 6 years?

What is MaxCyte's operating income?

How has MaxCyte's revenue changed over the last 6 years?

How much debt does MaxCyte have?

How much cash does MaxCyte have?

How has MaxCyte's book value per share changed over the last 6 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools