MaxCyte Q3 revenue falls 16% hurt by lower sales in instruments
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MaxCyte reported a 16% year-over-year decline in Q3 revenue, primarily due to lower sales in instruments. Despite this, adjusted EBITDA exceeded analyst expectations, indicating effective cost management. The company has expanded its SPL program with a new agreement with Moonlight Bio, bringing total SPL agreements to 32. For 2025, MaxCyte anticipates core revenue to be flat to a 10% decline compared to 2024, with SPL-related revenue projected at $5 million. Analysts maintain a "buy" rating on the stock, with a median 12-month price target of $5.72, significantly above its recent closing price of $1.55.
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