Exhibit 99.1
MaxCyte Announces Preliminary Unaudited Fourth Quarter and Full Year 2024 Financial Results
ROCKVILLE, MD, January 13, 2025 — MaxCyte, Inc., (Nasdaq: MXCT; LSE: MXCT), a leading, cell-engineering focused company providing enabling platform technologies to advance the discovery, development and commercialization of next-generation cell therapeutics, today provided a preliminary update on financial results for the fourth quarter and full year ended December 31, 2024.
Preliminary Unaudited Fourth Quarter and Full Year 2024 Results
| ● | Core revenue in the fourth quarter is expected to be between $8.3 million and $8.5 million, compared to $7.2 million in the fourth quarter of 2023 |
| ● | Core revenue for the full year is expected to be between $32.2 million and $32.4 million compared to $29.8 million for fiscal year 2023, representing 8 to 9% growth |
| ● | SPL program-related revenue and Total Revenue for the fourth quarter and full year 2024 is expected to be reported in March 2025 |
Total cash, cash equivalents, and investments as of December 31, 2024, is expected to be approximately $190 million, compared to initial guidance and updated guidance in December of $175 million and $185 million, respectively, and compared to December 31, 2023 total cash, cash equivalents, and investments of $211 million.
“MaxCyte reported preliminary core revenue for 2024 at the high end of the updated guidance range provided. The operating environment in the cell therapy industry is improving as we move into 2025; and we remain confident in the opportunity that exists for MaxCyte in the years ahead,” said Maher Masoud, President and CEO of MaxCyte. “In 2024, we increased the number of SPL customers by six, supported the commercial launch of the first non-viral gene edited cell therapy product approved by the FDA, and returned to healthy revenue growth while streamlining operations.”
MaxCyte’s fourth quarter and full year results are preliminary and unaudited and subject to change in connection with the completion of MaxCyte’s quarterly and year-end closing processes and the preparation of its audited financial statements for the quarter and fiscal year ended December 31, 2024. As a result, these preliminary results may differ from the actual results that will be reflected in MaxCyte’s consolidated financial statements for the quarter and fiscal year ended December 31, 2024, which are expected to be released in March 2025 and will be included in MaxCyte’s Annual Report on Form 10-K.
About MaxCyte
At MaxCyte, we pursue cell engineering excellence to maximize the potential of cells to improve patients’ lives. We have spent more than 25 years honing our expertise by building best-in-class platforms, perfecting the art of the transfection workflow, and venturing beyond today’s processes to innovate tomorrow’s solutions. Our ExPERT™ platform, which is based on our Flow Electroporation® technology, has been designed to support the rapidly expanding cell therapy market and can be utilized across the continuum of the high-growth cell therapy sector, from discovery and development through