Revenue: As of FY2025 Q3, the actual value is USD 6.829 M, missing the estimate of USD 8.521 M.EPS: As of FY2025 Q3, the actual value is USD -0.12, missing the estimate of USD -0.102.EBIT: As of FY2025 Q3, the actual value is USD -15.88 M.<h3>Segment Revenue</h3><ul><li>Total Revenue: $6.8 million in Q3 2025, a decrease of 16% from $8.2 million in Q3 2024.</li><li>Core Business Revenue: $6.4 million, a decrease of 21% from $8.1 million in Q3 2024.</li><li>SPL Program-related Revenue: $0.4 million, compared to immaterial in Q3 2024.</li></ul><h3>Operational Metrics</h3><ul><li>Gross Profit: $5.2 million with a 77% gross margin, compared to $6.2 million with a 76% gross margin in Q3 2024.</li><li>Non-GAAP Adjusted Gross Margin: 81%, compared to 85% in Q3 2024.</li><li>Operating Expenses: $19.4 million, compared to $20.3 million in Q3 2024.</li><li>Net Loss: $12.4 million, compared to $11.6 million in Q3 2024.</li><li>Adjusted EBITDA: Loss of $10.0 million, compared to a loss of $13.0 million in Q3 2024.</li><li>Stock-based Compensation Expense: $2.0 million, compared to $3.4 million in Q3 2024.</li></ul><h3>Cash Flow</h3><ul><li>Total Cash, Cash Equivalents, and Investments: $158.0 million as of September 30, 2025.</li></ul><h3>Unique Metrics</h3><ul><li>Core Revenue for 2024: $32.5 million, a 9% increase from 2023’s $29.8 million. Year-to-date 2025 Core Revenue shows a 4% decline to $22.8 million compared to the same period in 2024.</li><li>SPL-Program Related Revenue: Decreased by 47% in 2024 to $6.1 million from $11.5 million in 2023, and further declined by 52% year-to-date in 2025 to $2.9 million.</li></ul><h3>Outlook / Guidance</h3><ul><li>Core Revenue: Expected to be flat to a 10% decline compared to 2024, inclusive of revenue from SeQure Dx.</li><li>SPL Program-related Revenue: Expected to be approximately $5 million for the year, including both expected revenue from pre-commercial milestone payments and commercial royalties/sales-based payments.</li><li>Total Cash, Cash Equivalents, and Investments: Expected to end 2025 with $152 million to $155 million.</li><li>MaxCyte is committed to growth investment and efficient spending, focusing on aligning resources to growth areas and reducing annual cash burn. The company is well-capitalized to achieve profitability with existing capital.</li></ul>

MaxCyte | 8-K: FY2025 Q3 Revenue Misses Estimate at USD 6.829 M