MaxCyte, Inc. (MXCT) 10-Year Financial Performance & Capital Metrics

MXCT • • Industrial / General

HealthcareMedical DevicesDiagnostic & Imaging EquipmentMedical Imaging Systems

AboutMaxCyte, Inc., a global life sciences company, engages in the discovery, development, and commercialization of next-generation cell therapies. Its products include ExPERT ATx, a static electroporation instrument for small to medium scale transfection; ExPERT STx, a flow electroporation for protein production and drug development, as well as expression of therapeutic targets for cell-based assays; ExPERT GTx, a flow electroporation for large scale transfection in therapeutic applications; and ExPERT VLx for very large volume cell-engineering. The company also provides disposable processing assemblies (PAs) to process and electroporate cells; and accessories supporting PAs, such as electroporation buffer solution and software protocols. The company was incorporated in 1998 and is headquartered in Rockville, Maryland.Show more

Revenue $39M -6.4%
EBITDA -$46M -5.2%
Net Income -$41M -8.3%
EPS (Diluted) -0.39 -5.4%
Gross Margin 81.62% -7.8%
EBITDA Margin -120.14% -12.4%
Operating Margin -132.54% -13.3%
Net Margin -106.29% -15.7%
ROE -18.73% -20.0%
ROIC -19.16% -22.6%
Debt/Equity 0.09 +8.3%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y sales CAGR of 12.3%
✓Trading at only 0.7x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Weak momentum: RS Rating 14 (bottom 14%)
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y18.35%

5Y12.31%

3Y4.45%

TTM-24.52%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-27.69%

EPS CAGR

10Y-

5Y-

3Y-

TTM-28.66%

ROCE

10Y Avg-34.93%

5Y Avg-19.68%

3Y Avg-16.75%

Latest-21.6%

Peer Comparison

Medical Imaging Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
IRMDIRadimed Corporation	1.3B	102.57	68.38	11.71%	26.31%	21.54%	1.35%	0.00
BRKRBruker Corporation	7.52B	49.46	65.08	13.56%	-0.61%	-0.84%	1.81%	1.24
STESTERIS plc	26.33B	268.26	43.27	6.24%	12.07%	9.8%	2.95%	0.33
FONRFONAR Corporation	114.98M	18.64	15.15	1.43%	7.08%	4.62%	6.48%	0.24
HYPRHyperfine, Inc.	100.18M	1.22	-2.18	16.84%	-378.17%	-149.05%		0.01
PACBPacific Biosciences of California, Inc.	709.48M	2.35	-2.20	-23.19%	-325.8%	-13.95%		1.33
IRIXIRIDEX Corporation	23.21M	1.35	-2.50	-6.17%	-10.04%	-108.67%		2.21
MASS908 Devices Inc.	199.79M	5.52	-2.60	18.72%	-7.17%	-3.03%		0.06

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	9.29M	12.27M	13.98M	16.67M	21.62M	26.17M	33.89M	44.26M	41.29M	38.63M
Revenue Growth %	0.3%	0.32%	0.14%	0.19%	0.3%	0.21%	0.3%	0.31%	-0.07%	-0.06%
Cost of Goods Sold+	1.03M	1.31M	1.45M	1.84M	2.5M	2.77M	3.65M	5.1M	4.74M	7.1M
COGS % of Revenue	0.11%	0.11%	0.1%	0.11%	0.12%	0.11%	0.11%	0.12%	0.11%	0.18%
Gross Profit+	8.26M	10.96M	12.53M	14.83M	19.12M	23.4M	30.25M	39.16M	36.55M	31.53M
Gross Margin %	0.89%	0.89%	0.9%	0.89%	0.88%	0.89%	0.89%	0.88%	0.89%	0.82%
Gross Profit Growth %	0.33%	0.33%	0.14%	0.18%	0.29%	0.22%	0.29%	0.29%	-0.07%	-0.14%
Operating Expenses+	9.02M	13.69M	21.82M	23.25M	31.54M	34.46M	48.44M	66.52M	84.84M	82.72M
OpEx % of Revenue	0.97%	1.12%	1.56%	1.4%	1.46%	1.32%	1.43%	1.5%	2.05%	2.14%
Selling, General & Admin	6.01M	8.99M	10.54M	12.01M	13.41M	15.7M	31.68M	44.48M	57.04M	56.35M
SG&A % of Revenue	0.65%	0.73%	0.75%	0.72%	0.62%	0.6%	0.93%	1%	1.38%	1.46%
Research & Development	3.01M	4.7M	11.28M	11.24M	17.59M	17.73M	15.41M	19.51M	23.82M	22.23M
R&D % of Revenue	0.32%	0.38%	0.81%	0.67%	0.81%	0.68%	0.45%	0.44%	0.58%	0.58%
Other Operating Expenses	20K	15.7K	0	0	541.3K	1.03M	1.35M	2.53M	3.98M	4.14M
Operating Income+	-761.1K	-2.72M	-9.29M	-8.42M	-12.42M	-11.06M	-18.19M	-27.36M	-48.3M	-51.2M
Operating Margin %	-0.08%	-0.22%	-0.66%	-0.51%	-0.57%	-0.42%	-0.54%	-0.62%	-1.17%	-1.33%
Operating Income Growth %	0.4%	-2.58%	-2.41%	0.09%	-0.47%	0.11%	-0.65%	-0.5%	-0.77%	-0.06%
EBITDA+	-667.8K	-2.62M	-9.15M	-8.08M	-11.81M	-10.01M	-16.76M	-24.66M	-44.13M	-46.41M
EBITDA Margin %	-0.07%	-0.21%	-0.65%	-0.48%	-0.55%	-0.38%	-0.49%	-0.56%	-1.07%	-1.2%
EBITDA Growth %	0.44%	-2.92%	-2.49%	0.12%	-0.46%	0.15%	-0.67%	-0.47%	-0.79%	-0.05%
D&A (Non-Cash Add-back)	93.3K	105.7K	142.9K	344K	613.5K	1.05M	1.42M	2.7M	4.17M	4.79M
EBIT	-741.1K	-2.71M	-9.29M	-8.25M	-12.21M	-10.99M	-18.04M	-27.36M	-48.3M	-51.2M
Net Interest Income+	-704.4K	-637.8K	-625.3K	-444.3K	-475K	-759.7K	-893.6K	3.79M	10.38M	10.14M
Interest Income	0	0	0	170.3K	206.1K	65.9K	150.8K	3.92M	10.38M	10.14M
Interest Expense	704.4K	637.8K	625.3K	614.6K	681.1K	825.6K	1.04M	126.9K	0	0
Other Income/Expense	-684.4K	-622.1K	-625.3K	-444.3K	-475K	-759.7K	-893.6K	3.79M	10.38M	10.14M
Pretax Income+	-1.45M	-3.35M	-9.92M	-8.87M	-12.89M	-11.82M	-19.08M	-23.57M	-37.92M	-41.05M
Pretax Margin %	-0.16%	-0.27%	-0.71%	-0.53%	-0.6%	-0.45%	-0.56%	-0.53%	-0.92%	-1.06%
Income Tax+	0	0	0	0	0	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-1.45M	-3.35M	-9.92M	-8.87M	-12.89M	-11.82M	-19.08M	-23.57M	-37.92M	-41.05M
Net Margin %	-0.16%	-0.27%	-0.71%	-0.53%	-0.6%	-0.45%	-0.56%	-0.53%	-0.92%	-1.06%
Net Income Growth %	0.21%	-1.31%	-1.96%	0.11%	-0.45%	0.08%	-0.61%	-0.24%	-0.61%	-0.08%
Net Income (Continuing)	-1.45M	-3.35M	-9.92M	-8.87M	-12.89M	-11.82M	-19.08M	-23.57M	-37.92M	-41.05M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.03	-0.10	-0.20	-0.17	-0.24	-0.18	-0.22	-0.19	-0.37	-0.39
EPS Growth %	0.98%	-2%	-1%	0.15%	-0.41%	0.25%	-0.22%	0.14%	-0.95%	-0.05%
EPS (Basic)	-0.03	-0.10	-0.20	-0.17	-0.24	-0.18	-0.22	-0.19	-0.37	-0.39
Diluted Shares Outstanding	43.47M	33.52M	48.64M	51.18M	56.4M	69.46M	90.62M	101.7M	103.27M	104.85M
Basic Shares Outstanding	43.47M	33.52M	48.64M	51.18M	56.4M	69.46M	90.62M	101.7M	103.27M	104.85M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	6.19M	15.79M	30.55M	22.45M	24.45M	45.25M	270.43M	252.27M	190.19M	171.68M
Cash & Short-Term Investments	2.41M	11.73M	25.34M	14.44M	16.71M	34.76M	255.04M	227.34M	168.29M	154.48M
Cash Only	2.41M	11.73M	25.34M	11.25M	15.21M	18.76M	47.78M	11.06M	46.51M	27.88M
Short-Term Investments	0	0	0	3.19M	1.5M	16.01M	207.26M	216.28M	121.78M	126.6M
Accounts Receivable	1.45M	2.41M	3.2M	4.9M	3.24M	5.17M	6.88M	11.18M	5.78M	4.68M
Days Sales Outstanding	57.02	71.71	83.4	107.41	54.77	72.14	74.06	92.16	51.08	44.24
Inventory	1.09M	1.33M	1.35M	2.24M	3.7M	4.32M	5.2M	8.58M	12.23M	8.91M
Days Inventory Outstanding	384.14	372.54	338.35	444.9	540.64	569.3	520.83	614.37	941.29	458.25
Other Current Assets	1.24M	318.4K	665.8K	863.7K	797.1K	0	0	1.91M	3.9M	3.61M
Total Non-Current Assets+	207.3K	281.5K	847.6K	1.82M	5.53M	6.53M	13.69M	34.39M	78.08M	67.79M
Property, Plant & Equipment	207.3K	281.5K	847.6K	1.82M	5.53M	6.49M	13.37M	33.58M	34.75M	30.47M
Fixed Asset Turnover	44.82x	43.59x	16.50x	9.17x	3.91x	4.03x	2.53x	1.32x	1.19x	1.27x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	42.94M	35.78M
Other Non-Current Assets	0	0	0	0	0	33.9K	316.7K	809K	388K	1.53M
Total Assets+	6.4M	16.07M	31.4M	24.27M	29.99M	51.78M	284.12M	286.65M	268.27M	239.47M
Asset Turnover	1.45x	0.76x	0.45x	0.69x	0.72x	0.51x	0.12x	0.15x	0.15x	0.16x
Asset Growth %	0.02%	1.51%	0.95%	-0.23%	0.24%	0.73%	4.49%	0.01%	-0.06%	-0.11%
Total Current Liabilities+	5.09M	5.65M	7.24M	6.57M	9.34M	11.61M	15.62M	15.43M	17.86M	15.78M
Accounts Payable	2.26M	3.17M	4.33M	1.03M	2.09M	890.2K	1.82M	292K	743K	1.36M
Days Payables Outstanding	798.42	886.12	1.09K	204.74	305.15	117.43	182.16	20.91	57.19	69.81
Short-Term Debt	805.7K	0	850.9K	0	0	0	0	0	0	864K
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	1000K	1000K
Other Current Liabilities	0	0	-850.9K	0	0	0	0	6.71M	0	8.3M
Current Ratio	1.22x	2.79x	4.22x	3.42x	2.62x	3.90x	17.32x	16.35x	10.65x	10.88x
Quick Ratio	1.00x	2.56x	4.03x	3.07x	2.22x	3.52x	16.98x	15.80x	9.97x	10.32x
Cash Conversion Cycle	-357.26	-441.87	-666.14	347.57	290.26	524.01	412.73	685.62	935.18	432.68
Total Non-Current Liabilities+	4.39M	5.34M	4.56M	5.41M	7.04M	6.94M	5.61M	17.26M	18.25M	17.44M
Long-Term Debt	4.2M	4.99M	4.18M	5.06M	4.9M	4.92M	0	0	0	0
Capital Lease Obligations	17.5K	3.1K	0	0	1.81M	1.38M	5.15M	15.94M	17.97M	17.17M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	171K	344.6K	384.5K	357.3K	338.1K	646.6K	450.2K	1.32M	283K	274K
Total Liabilities	9.48M	10.99M	11.8M	11.99M	16.38M	18.55M	21.22M	32.69M	36.11M	33.22M
Total Debt+	5.04M	5.01M	5.03M	5.06M	7.21M	6.97M	5.68M	16.09M	18.74M	18.03M
Net Debt	2.63M	-6.72M	-20.31M	-6.19M	-8M	-11.79M	-42.1M	5.03M	-27.76M	-9.85M
Debt / Equity	-	0.98x	0.26x	0.41x	0.53x	0.21x	0.02x	0.06x	0.08x	0.09x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-1.08x	-4.27x	-14.86x	-13.71x	-18.24x	-13.39x	-17.42x	-215.61x	-	-
Total Equity+	-3.08M	5.08M	19.6M	12.28M	13.6M	33.23M	262.9M	253.97M	232.17M	206.25M
Equity Growth %	-0.87%	2.65%	2.86%	-0.37%	0.11%	1.44%	6.91%	-0.03%	-0.09%	-0.11%
Book Value per Share	-0.07	0.15	0.40	0.24	0.24	0.48	2.90	2.50	2.25	1.97
Total Shareholders' Equity	-3.08M	5.08M	19.6M	12.28M	13.6M	33.23M	262.9M	253.97M	232.17M	206.25M
Common Stock	19.5K	435.4K	509K	513.3K	574K	773.8K	1.01M	1.02M	1.04M	1.06M
Retained Earnings	-48.38M	-51.72M	-61.64M	-70.51M	-83.41M	-95.22M	-114.3M	-137.88M	-175.8M	-216.85M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-180.5K	-2.33M	-9.68M	-10.49M	-8.8M	-8.78M	-10.68M	-14.78M	-21.69M	-27.61M
Operating CF Margin %	-0.02%	-0.19%	-0.69%	-0.63%	-0.41%	-0.34%	-0.32%	-0.33%	-0.53%	-0.71%
Operating CF Growth %	0.91%	-11.94%	-3.14%	-0.08%	0.16%	0%	-0.22%	-0.38%	-0.47%	-0.27%
Net Income	-1.45M	-3.35M	-9.92M	-8.87M	-12.89M	-11.82M	-19.08M	-23.57M	-37.92M	-41.05M
Depreciation & Amortization	93.3K	105.7K	142.9K	344K	613.5K	1.05M	1.42M	2.7M	4.57M	4.32M
Stock-Based Compensation	1.2K	154.1K	514.5K	1.32M	1.75M	2.47M	7.96M	0	13.98M	0
Deferred Taxes	-20K	0	0	96.4K	37.3K	0	0	0	0	0
Other Non-Cash Items	109.1K	81.5K	101.3K	74.7K	76.9K	373K	664.6K	9.3M	-6.13M	9.88M
Working Capital Changes	1.08M	669.2K	-518.8K	-3.46M	1.61M	-858.2K	-1.64M	-3.21M	3.82M	-751K
Change in Receivables	-49.4K	-959.4K	-784.9K	-1.95M	1.59M	-1.81M	-1.71M	-6.69M	7.14M	1.23M
Change in Inventory	-144.8K	-248.7K	-174.9K	-1.29M	-1.89M	-890.6K	-1.41M	-3.49M	-4.53M	1.36M
Change in Payables	618.2K	1.24M	849K	-689.1K	1.05M	391K	2.09M	-149.7K	3.25M	-1.88M
Cash from Investing+	-94.5K	-218.8K	-609.7K	-3.83M	454.5K	-16.58M	-195.01M	-24.82M	54.98M	6.93M
Capital Expenditures	-94.5K	-218.8K	-609.7K	-709.7K	-1.27M	-2.07M	-3.83M	-18.48M	-3.7M	-1.65M
CapEx % of Revenue	0.01%	0.02%	0.04%	0.04%	0.06%	0.08%	0.11%	0.42%	0.09%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	-3.12M	1.73M	0	4.6K	0	9K	0
Cash from Financing+	-722.1K	11.87M	23.9M	226.8K	12.31M	28.9M	234.72M	2.89M	2.14M	2.06M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-667.7K	-50.7K	16.2K	230K	132.7K	401K	3.63M	0	1.87M	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-275K	-2.55M	-10.29M	-11.2M	-10.07M	-10.85M	-14.51M	-33.26M	-25.39M	-29.26M
FCF Margin %	-0.03%	-0.21%	-0.74%	-0.67%	-0.47%	-0.41%	-0.43%	-0.75%	-0.61%	-0.76%
FCF Growth %	0.87%	-8.29%	-3.03%	-0.09%	0.1%	-0.08%	-0.34%	-1.29%	0.24%	-0.15%
FCF per Share	-0.01	-0.08	-0.21	-0.22	-0.18	-0.16	-0.16	-0.33	-0.25	-0.28
FCF Conversion (FCF/Net Income)	0.12x	0.70x	0.98x	1.18x	0.68x	0.74x	0.56x	0.63x	0.57x	0.67x
Interest Paid	0	0	0	0	0	421.4K	420.9K	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-334.4%	-80.36%	-55.64%	-99.64%	-50.47%	-12.89%	-9.12%	-15.6%	-18.73%
Return on Invested Capital (ROIC)	-	-	-	-235.1%	-159.34%	-61.34%	-11.26%	-8.55%	-15.63%	-19.16%
Gross Margin	88.89%	89.34%	89.61%	88.96%	88.44%	89.43%	89.24%	88.48%	88.51%	81.62%
Net Margin	-15.56%	-27.27%	-70.91%	-53.21%	-59.64%	-45.15%	-56.3%	-53.25%	-91.85%	-106.29%
Debt / Equity	-	0.98x	0.26x	0.41x	0.53x	0.21x	0.02x	0.06x	0.08x	0.09x
Interest Coverage	-1.08x	-4.27x	-14.86x	-13.71x	-18.24x	-13.39x	-17.42x	-215.61x	-	-
FCF Conversion	0.12x	0.70x	0.98x	1.18x	0.68x	0.74x	0.56x	0.63x	0.57x	0.67x
Revenue Growth	29.67%	32.07%	13.98%	19.18%	29.72%	21.04%	29.52%	30.59%	-6.72%	-6.44%

Revenue by Segment

	2021	2022	2023	2024
Product	-	-	-	21.09M
Product Growth	-	-	-	-
Product and Service, Other	-	-	-	1.13M
Product and Service, Other Growth	-	-	-	-
Product sales	20.79M	27.73M	18.6M	-
Product sales Growth	-	33.40%	-32.93%	-
Other	784.6K	1.02M	897K	-
Other Growth	-	29.81%	-11.93%	-

Revenue by Geography

	2021	2022	2023	2024
UNITED STATES	-	-	-	25.77M
UNITED STATES Growth	-	-	-	-
Non-US	-	-	-	12.86M
Non-US Growth	-	-	-	-

Frequently Asked Questions

Growth & Financials

MaxCyte, Inc. (MXCT) reported $34.4M in revenue for fiscal year 2024. This represents a 580% increase from $5.1M in 2012.

MaxCyte, Inc. (MXCT) saw revenue decline by 6.4% over the past year.

MaxCyte, Inc. (MXCT) reported a net loss of $45.6M for fiscal year 2024.

Dividend & Returns

MaxCyte, Inc. (MXCT) has a return on equity (ROE) of -18.7%. Negative ROE indicates the company is unprofitable.

MaxCyte, Inc. (MXCT) had negative free cash flow of $41.2M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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MaxCyte, Inc. (MXCT) 10-Year Financial Performance & Capital Metrics

MXCT • • Industrial / General

HealthcareMedical DevicesDiagnostic & Imaging EquipmentMedical Imaging Systems

Revenue $39M -6.4%
EBITDA -$46M -5.2%
Net Income -$41M -8.3%
EPS (Diluted) -0.39 -5.4%
Gross Margin 81.62% -7.8%
EBITDA Margin -120.14% -12.4%
Operating Margin -132.54% -13.3%
Net Margin -106.29% -15.7%
ROE -18.73% -20.0%
ROIC -19.16% -22.6%
Debt/Equity 0.09 +8.3%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y sales CAGR of 12.3%
✓Trading at only 0.7x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Weak momentum: RS Rating 14 (bottom 14%)
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y18.35%

5Y12.31%

3Y4.45%

TTM-24.52%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-27.69%

EPS CAGR

10Y-

5Y-

3Y-

TTM-28.66%

ROCE

10Y Avg-34.93%

5Y Avg-19.68%

3Y Avg-16.75%

Latest-21.6%

Peer Comparison

Medical Imaging Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
IRMDIRadimed Corporation	1.3B	102.57	68.38	11.71%	26.31%	21.54%	1.35%	0.00
BRKRBruker Corporation	7.52B	49.46	65.08	13.56%	-0.61%	-0.84%	1.81%	1.24
STESTERIS plc	26.33B	268.26	43.27	6.24%	12.07%	9.8%	2.95%	0.33
FONRFONAR Corporation	114.98M	18.64	15.15	1.43%	7.08%	4.62%	6.48%	0.24
HYPRHyperfine, Inc.	100.18M	1.22	-2.18	16.84%	-378.17%	-149.05%		0.01
PACBPacific Biosciences of California, Inc.	709.48M	2.35	-2.20	-23.19%	-325.8%	-13.95%		1.33
IRIXIRIDEX Corporation	23.21M	1.35	-2.50	-6.17%	-10.04%	-108.67%		2.21
MASS908 Devices Inc.	199.79M	5.52	-2.60	18.72%	-7.17%	-3.03%		0.06

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	9.29M	12.27M	13.98M	16.67M	21.62M	26.17M	33.89M	44.26M	41.29M	38.63M
Revenue Growth %	0.3%	0.32%	0.14%	0.19%	0.3%	0.21%	0.3%	0.31%	-0.07%	-0.06%
Cost of Goods Sold+	1.03M	1.31M	1.45M	1.84M	2.5M	2.77M	3.65M	5.1M	4.74M	7.1M
COGS % of Revenue	0.11%	0.11%	0.1%	0.11%	0.12%	0.11%	0.11%	0.12%	0.11%	0.18%
Gross Profit+	8.26M	10.96M	12.53M	14.83M	19.12M	23.4M	30.25M	39.16M	36.55M	31.53M
Gross Margin %	0.89%	0.89%	0.9%	0.89%	0.88%	0.89%	0.89%	0.88%	0.89%	0.82%
Gross Profit Growth %	0.33%	0.33%	0.14%	0.18%	0.29%	0.22%	0.29%	0.29%	-0.07%	-0.14%
Operating Expenses+	9.02M	13.69M	21.82M	23.25M	31.54M	34.46M	48.44M	66.52M	84.84M	82.72M
OpEx % of Revenue	0.97%	1.12%	1.56%	1.4%	1.46%	1.32%	1.43%	1.5%	2.05%	2.14%
Selling, General & Admin	6.01M	8.99M	10.54M	12.01M	13.41M	15.7M	31.68M	44.48M	57.04M	56.35M
SG&A % of Revenue	0.65%	0.73%	0.75%	0.72%	0.62%	0.6%	0.93%	1%	1.38%	1.46%
Research & Development	3.01M	4.7M	11.28M	11.24M	17.59M	17.73M	15.41M	19.51M	23.82M	22.23M
R&D % of Revenue	0.32%	0.38%	0.81%	0.67%	0.81%	0.68%	0.45%	0.44%	0.58%	0.58%
Other Operating Expenses	20K	15.7K	0	0	541.3K	1.03M	1.35M	2.53M	3.98M	4.14M
Operating Income+	-761.1K	-2.72M	-9.29M	-8.42M	-12.42M	-11.06M	-18.19M	-27.36M	-48.3M	-51.2M
Operating Margin %	-0.08%	-0.22%	-0.66%	-0.51%	-0.57%	-0.42%	-0.54%	-0.62%	-1.17%	-1.33%
Operating Income Growth %	0.4%	-2.58%	-2.41%	0.09%	-0.47%	0.11%	-0.65%	-0.5%	-0.77%	-0.06%
EBITDA+	-667.8K	-2.62M	-9.15M	-8.08M	-11.81M	-10.01M	-16.76M	-24.66M	-44.13M	-46.41M
EBITDA Margin %	-0.07%	-0.21%	-0.65%	-0.48%	-0.55%	-0.38%	-0.49%	-0.56%	-1.07%	-1.2%
EBITDA Growth %	0.44%	-2.92%	-2.49%	0.12%	-0.46%	0.15%	-0.67%	-0.47%	-0.79%	-0.05%
D&A (Non-Cash Add-back)	93.3K	105.7K	142.9K	344K	613.5K	1.05M	1.42M	2.7M	4.17M	4.79M
EBIT	-741.1K	-2.71M	-9.29M	-8.25M	-12.21M	-10.99M	-18.04M	-27.36M	-48.3M	-51.2M
Net Interest Income+	-704.4K	-637.8K	-625.3K	-444.3K	-475K	-759.7K	-893.6K	3.79M	10.38M	10.14M
Interest Income	0	0	0	170.3K	206.1K	65.9K	150.8K	3.92M	10.38M	10.14M
Interest Expense	704.4K	637.8K	625.3K	614.6K	681.1K	825.6K	1.04M	126.9K	0	0
Other Income/Expense	-684.4K	-622.1K	-625.3K	-444.3K	-475K	-759.7K	-893.6K	3.79M	10.38M	10.14M
Pretax Income+	-1.45M	-3.35M	-9.92M	-8.87M	-12.89M	-11.82M	-19.08M	-23.57M	-37.92M	-41.05M
Pretax Margin %	-0.16%	-0.27%	-0.71%	-0.53%	-0.6%	-0.45%	-0.56%	-0.53%	-0.92%	-1.06%
Income Tax+	0	0	0	0	0	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-1.45M	-3.35M	-9.92M	-8.87M	-12.89M	-11.82M	-19.08M	-23.57M	-37.92M	-41.05M
Net Margin %	-0.16%	-0.27%	-0.71%	-0.53%	-0.6%	-0.45%	-0.56%	-0.53%	-0.92%	-1.06%
Net Income Growth %	0.21%	-1.31%	-1.96%	0.11%	-0.45%	0.08%	-0.61%	-0.24%	-0.61%	-0.08%
Net Income (Continuing)	-1.45M	-3.35M	-9.92M	-8.87M	-12.89M	-11.82M	-19.08M	-23.57M	-37.92M	-41.05M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.03	-0.10	-0.20	-0.17	-0.24	-0.18	-0.22	-0.19	-0.37	-0.39
EPS Growth %	0.98%	-2%	-1%	0.15%	-0.41%	0.25%	-0.22%	0.14%	-0.95%	-0.05%
EPS (Basic)	-0.03	-0.10	-0.20	-0.17	-0.24	-0.18	-0.22	-0.19	-0.37	-0.39
Diluted Shares Outstanding	43.47M	33.52M	48.64M	51.18M	56.4M	69.46M	90.62M	101.7M	103.27M	104.85M
Basic Shares Outstanding	43.47M	33.52M	48.64M	51.18M	56.4M	69.46M	90.62M	101.7M	103.27M	104.85M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	6.19M	15.79M	30.55M	22.45M	24.45M	45.25M	270.43M	252.27M	190.19M	171.68M
Cash & Short-Term Investments	2.41M	11.73M	25.34M	14.44M	16.71M	34.76M	255.04M	227.34M	168.29M	154.48M
Cash Only	2.41M	11.73M	25.34M	11.25M	15.21M	18.76M	47.78M	11.06M	46.51M	27.88M
Short-Term Investments	0	0	0	3.19M	1.5M	16.01M	207.26M	216.28M	121.78M	126.6M
Accounts Receivable	1.45M	2.41M	3.2M	4.9M	3.24M	5.17M	6.88M	11.18M	5.78M	4.68M
Days Sales Outstanding	57.02	71.71	83.4	107.41	54.77	72.14	74.06	92.16	51.08	44.24
Inventory	1.09M	1.33M	1.35M	2.24M	3.7M	4.32M	5.2M	8.58M	12.23M	8.91M
Days Inventory Outstanding	384.14	372.54	338.35	444.9	540.64	569.3	520.83	614.37	941.29	458.25
Other Current Assets	1.24M	318.4K	665.8K	863.7K	797.1K	0	0	1.91M	3.9M	3.61M
Total Non-Current Assets+	207.3K	281.5K	847.6K	1.82M	5.53M	6.53M	13.69M	34.39M	78.08M	67.79M
Property, Plant & Equipment	207.3K	281.5K	847.6K	1.82M	5.53M	6.49M	13.37M	33.58M	34.75M	30.47M
Fixed Asset Turnover	44.82x	43.59x	16.50x	9.17x	3.91x	4.03x	2.53x	1.32x	1.19x	1.27x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	42.94M	35.78M
Other Non-Current Assets	0	0	0	0	0	33.9K	316.7K	809K	388K	1.53M
Total Assets+	6.4M	16.07M	31.4M	24.27M	29.99M	51.78M	284.12M	286.65M	268.27M	239.47M
Asset Turnover	1.45x	0.76x	0.45x	0.69x	0.72x	0.51x	0.12x	0.15x	0.15x	0.16x
Asset Growth %	0.02%	1.51%	0.95%	-0.23%	0.24%	0.73%	4.49%	0.01%	-0.06%	-0.11%
Total Current Liabilities+	5.09M	5.65M	7.24M	6.57M	9.34M	11.61M	15.62M	15.43M	17.86M	15.78M
Accounts Payable	2.26M	3.17M	4.33M	1.03M	2.09M	890.2K	1.82M	292K	743K	1.36M
Days Payables Outstanding	798.42	886.12	1.09K	204.74	305.15	117.43	182.16	20.91	57.19	69.81
Short-Term Debt	805.7K	0	850.9K	0	0	0	0	0	0	864K
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	1000K	1000K
Other Current Liabilities	0	0	-850.9K	0	0	0	0	6.71M	0	8.3M
Current Ratio	1.22x	2.79x	4.22x	3.42x	2.62x	3.90x	17.32x	16.35x	10.65x	10.88x
Quick Ratio	1.00x	2.56x	4.03x	3.07x	2.22x	3.52x	16.98x	15.80x	9.97x	10.32x
Cash Conversion Cycle	-357.26	-441.87	-666.14	347.57	290.26	524.01	412.73	685.62	935.18	432.68
Total Non-Current Liabilities+	4.39M	5.34M	4.56M	5.41M	7.04M	6.94M	5.61M	17.26M	18.25M	17.44M
Long-Term Debt	4.2M	4.99M	4.18M	5.06M	4.9M	4.92M	0	0	0	0
Capital Lease Obligations	17.5K	3.1K	0	0	1.81M	1.38M	5.15M	15.94M	17.97M	17.17M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	171K	344.6K	384.5K	357.3K	338.1K	646.6K	450.2K	1.32M	283K	274K
Total Liabilities	9.48M	10.99M	11.8M	11.99M	16.38M	18.55M	21.22M	32.69M	36.11M	33.22M
Total Debt+	5.04M	5.01M	5.03M	5.06M	7.21M	6.97M	5.68M	16.09M	18.74M	18.03M
Net Debt	2.63M	-6.72M	-20.31M	-6.19M	-8M	-11.79M	-42.1M	5.03M	-27.76M	-9.85M
Debt / Equity	-	0.98x	0.26x	0.41x	0.53x	0.21x	0.02x	0.06x	0.08x	0.09x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-1.08x	-4.27x	-14.86x	-13.71x	-18.24x	-13.39x	-17.42x	-215.61x	-	-
Total Equity+	-3.08M	5.08M	19.6M	12.28M	13.6M	33.23M	262.9M	253.97M	232.17M	206.25M
Equity Growth %	-0.87%	2.65%	2.86%	-0.37%	0.11%	1.44%	6.91%	-0.03%	-0.09%	-0.11%
Book Value per Share	-0.07	0.15	0.40	0.24	0.24	0.48	2.90	2.50	2.25	1.97
Total Shareholders' Equity	-3.08M	5.08M	19.6M	12.28M	13.6M	33.23M	262.9M	253.97M	232.17M	206.25M
Common Stock	19.5K	435.4K	509K	513.3K	574K	773.8K	1.01M	1.02M	1.04M	1.06M
Retained Earnings	-48.38M	-51.72M	-61.64M	-70.51M	-83.41M	-95.22M	-114.3M	-137.88M	-175.8M	-216.85M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-180.5K	-2.33M	-9.68M	-10.49M	-8.8M	-8.78M	-10.68M	-14.78M	-21.69M	-27.61M
Operating CF Margin %	-0.02%	-0.19%	-0.69%	-0.63%	-0.41%	-0.34%	-0.32%	-0.33%	-0.53%	-0.71%
Operating CF Growth %	0.91%	-11.94%	-3.14%	-0.08%	0.16%	0%	-0.22%	-0.38%	-0.47%	-0.27%
Net Income	-1.45M	-3.35M	-9.92M	-8.87M	-12.89M	-11.82M	-19.08M	-23.57M	-37.92M	-41.05M
Depreciation & Amortization	93.3K	105.7K	142.9K	344K	613.5K	1.05M	1.42M	2.7M	4.57M	4.32M
Stock-Based Compensation	1.2K	154.1K	514.5K	1.32M	1.75M	2.47M	7.96M	0	13.98M	0
Deferred Taxes	-20K	0	0	96.4K	37.3K	0	0	0	0	0
Other Non-Cash Items	109.1K	81.5K	101.3K	74.7K	76.9K	373K	664.6K	9.3M	-6.13M	9.88M
Working Capital Changes	1.08M	669.2K	-518.8K	-3.46M	1.61M	-858.2K	-1.64M	-3.21M	3.82M	-751K
Change in Receivables	-49.4K	-959.4K	-784.9K	-1.95M	1.59M	-1.81M	-1.71M	-6.69M	7.14M	1.23M
Change in Inventory	-144.8K	-248.7K	-174.9K	-1.29M	-1.89M	-890.6K	-1.41M	-3.49M	-4.53M	1.36M
Change in Payables	618.2K	1.24M	849K	-689.1K	1.05M	391K	2.09M	-149.7K	3.25M	-1.88M
Cash from Investing+	-94.5K	-218.8K	-609.7K	-3.83M	454.5K	-16.58M	-195.01M	-24.82M	54.98M	6.93M
Capital Expenditures	-94.5K	-218.8K	-609.7K	-709.7K	-1.27M	-2.07M	-3.83M	-18.48M	-3.7M	-1.65M
CapEx % of Revenue	0.01%	0.02%	0.04%	0.04%	0.06%	0.08%	0.11%	0.42%	0.09%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	-3.12M	1.73M	0	4.6K	0	9K	0
Cash from Financing+	-722.1K	11.87M	23.9M	226.8K	12.31M	28.9M	234.72M	2.89M	2.14M	2.06M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-667.7K	-50.7K	16.2K	230K	132.7K	401K	3.63M	0	1.87M	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-275K	-2.55M	-10.29M	-11.2M	-10.07M	-10.85M	-14.51M	-33.26M	-25.39M	-29.26M
FCF Margin %	-0.03%	-0.21%	-0.74%	-0.67%	-0.47%	-0.41%	-0.43%	-0.75%	-0.61%	-0.76%
FCF Growth %	0.87%	-8.29%	-3.03%	-0.09%	0.1%	-0.08%	-0.34%	-1.29%	0.24%	-0.15%
FCF per Share	-0.01	-0.08	-0.21	-0.22	-0.18	-0.16	-0.16	-0.33	-0.25	-0.28
FCF Conversion (FCF/Net Income)	0.12x	0.70x	0.98x	1.18x	0.68x	0.74x	0.56x	0.63x	0.57x	0.67x
Interest Paid	0	0	0	0	0	421.4K	420.9K	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-334.4%	-80.36%	-55.64%	-99.64%	-50.47%	-12.89%	-9.12%	-15.6%	-18.73%
Return on Invested Capital (ROIC)	-	-	-	-235.1%	-159.34%	-61.34%	-11.26%	-8.55%	-15.63%	-19.16%
Gross Margin	88.89%	89.34%	89.61%	88.96%	88.44%	89.43%	89.24%	88.48%	88.51%	81.62%
Net Margin	-15.56%	-27.27%	-70.91%	-53.21%	-59.64%	-45.15%	-56.3%	-53.25%	-91.85%	-106.29%
Debt / Equity	-	0.98x	0.26x	0.41x	0.53x	0.21x	0.02x	0.06x	0.08x	0.09x
Interest Coverage	-1.08x	-4.27x	-14.86x	-13.71x	-18.24x	-13.39x	-17.42x	-215.61x	-	-
FCF Conversion	0.12x	0.70x	0.98x	1.18x	0.68x	0.74x	0.56x	0.63x	0.57x	0.67x
Revenue Growth	29.67%	32.07%	13.98%	19.18%	29.72%	21.04%	29.52%	30.59%	-6.72%	-6.44%

Revenue by Segment

	2021	2022	2023	2024
Product	-	-	-	21.09M
Product Growth	-	-	-	-
Product and Service, Other	-	-	-	1.13M
Product and Service, Other Growth	-	-	-	-
Product sales	20.79M	27.73M	18.6M	-
Product sales Growth	-	33.40%	-32.93%	-
Other	784.6K	1.02M	897K	-
Other Growth	-	29.81%	-11.93%	-

Revenue by Geography

	2021	2022	2023	2024
UNITED STATES	-	-	-	25.77M
UNITED STATES Growth	-	-	-	-
Non-US	-	-	-	12.86M
Non-US Growth	-	-	-	-

Frequently Asked Questions

Growth & Financials

MaxCyte, Inc. (MXCT) reported $34.4M in revenue for fiscal year 2024. This represents a 580% increase from $5.1M in 2012.

MaxCyte, Inc. (MXCT) saw revenue decline by 6.4% over the past year.

MaxCyte, Inc. (MXCT) reported a net loss of $45.6M for fiscal year 2024.

Dividend & Returns

MaxCyte, Inc. (MXCT) has a return on equity (ROE) of -18.7%. Negative ROE indicates the company is unprofitable.

MaxCyte, Inc. (MXCT) had negative free cash flow of $41.2M in fiscal year 2024, likely due to heavy capital investments.