$MXCT

MAXCYTE, INC.

CIK:0001287098|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Condensed Consolidated Statements of Operations and Comprehensive Loss
Revenue	$ 7,271	$ 8,507	$ 16,922	$ 18,897
Cost of goods sold	1,675	1,519	3,244	3,016
Gross profit	5,596	6,988	13,678	15,881
Operating expenses:
Research and development	4,253	6,269	8,110	12,172
Sales and marketing	3,364	5,786	6,792	11,484
General and administrative	7,258	8,080	13,224	16,606
Depreciation and amortization	953	1,080	1,969	2,141
Total operating expenses	15,828	21,215	30,095	42,403
Operating loss	(10,232)	(14,227)	(16,417)	(26,522)
Other income:
Interest income	1,358	1,870	2,793	3,904
Total other income	1,358	1,870	2,793	3,904
Loss before income taxes	(8,874)	(12,357)	(13,624)	(22,618)
Provision for income taxes
Net loss	(8,874)	(12,357)	(13,624)	(22,618)
Other comprehensive income
Comprehensive loss	$ (8,874)	$ (12,357)	$ (13,624)	$ (22,618)
Basic net loss per share (in dollars per share)	$ (0.08)	$ (0.12)	$ (0.13)	$ (0.21)
Diluted net loss per share (in dollars per share)	$ (0.08)	$ (0.12)	$ (0.13)	$ (0.21)
Weighted-average shares outstanding, basic (In shares)	106,822,633	106,403,540	106,848,715	106,178,262
Weighted-average shares outstanding, diluted (In shares)	106,822,633	106,403,540	106,848,715	106,178,262

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (13,624)	$ (22,618)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,025	2,196
Impairment of fixed assets	630	0
Lease right-of-use asset amortization	448	378
Net book value of consigned equipment sold	102	55
Loss on disposal of property and equipment	22	113
Stock-based compensation	2,301	6,553
Credit loss expense		10
Provision for inventory reserve	379	165
Amortization of discounts on investments	(838)	(1,635)
Changes in operating assets and liabilities, net of effects of acquisition:
Accounts receivable	(419)	(1,077)
Inventory	(852)	754
Prepaid expense and other current assets	611	773
Other assets	1,449	(1,140)
Accounts payable, accrued expenses and other	(3,276)	(5,340)
Operating lease liability	(692)	(593)
Deferred revenue	(1,135)	(2,831)
Other liabilities	39	(26)
Net cash used in operating activities	(12,830)	(24,263)
Cash flows from investing activities:
Purchases of investments	(36,494)	(63,523)
Maturities of investments	46,000	77,600
Purchases of property and equipment	(134)	(1,237)
Acquisition of intangible assets	(150)
Acquisition of business, net of cash acquired of $541		(1,773)
Net cash provided by investing activities	9,222	11,067
Cash flows from financing activities:
Proceeds from exercise of stock options	29	403
Proceeds from issuance of common stock under employee stock purchase plan	34	134
Repurchases of common stock	(1,478)
Net cash (used in) provided by financing activities	(1,415)	537
Net decrease in cash and cash equivalents	(5,023)	(12,659)
Cash and cash equivalents, beginning of period	20,065	27,884
Cash and cash equivalents, end of period	$ 15,042	15,225
Supplemental cash flow information:
Property and equipment purchases included in accounts payable and accrued expenses		91
Right-of-use assets obtained in business combination by assumption of lease liabilities		$ 956

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 15,042	$ 20,065
Short-term investments, at amortized cost	90,648	82,979
Accounts receivable, net	3,922	3,503
Inventory, net	7,798	7,547
Prepaid expenses and other current assets	3,664	4,275
Assets held for sale	200
Total current assets	121,274	118,369
Investments, non-current, at amortized cost	36,233	52,570
Property and equipment, net	14,897	17,531
Right-of-use asset - operating leases	10,472	10,920
Intangible assets, net	766	650
Other assets	1,030	2,467
Total assets	184,672	202,507
Current liabilities:
Accounts payable	1,734	1,401
Accrued expenses and other	4,170	7,812
Operating lease liability, current	1,528	1,456
Deferred revenue, current portion	2,463	3,598
Total current liabilities	9,895	14,267
Operating lease liability, net of current portion	15,723	16,487
Other liabilities	302	263
Total liabilities	25,920	31,017
Commitments and contingencies (Note 7)
Stockholders' equity:
Preferred stock, $0.01 par value; 5,000,000 shares authorized and no shares issued and outstanding at June 30, 2026 and December 31, 2025
Common stock, $0.01 par value; 400,000,000 shares authorized, 107,447,077 and 106,789,618 shares issued, and 106,134,011 and 106,789,618 outstanding at June 30, 2026 and December 31, 2025, respectively	1,074	1,068
Additional paid-in capital	434,263	431,905
Treasury stock, 1,313,066 shares, at cost	(1,478)
Accumulated deficit	(275,107)	(261,483)
Total stockholders' equity	158,752	171,490
Total liabilities and stockholders' equity	$ 184,672	$ 202,507