Strong First Quarter Performance
MaxCyte reported $10.4 million in total revenue, with core revenue at $8.2 million and SPL program revenue at $2.1 million. The company expressed confidence in their operational focus and underlying business despite macro uncertainties.
Instrument Installed Base Growth
The instrument installed base grew to 787 as of March 31st, with instrument revenue of $1.4 million.
Progress with SeQure Dx Integration
Solid initial traction with SeQure Dx was noted, with the company on track to deliver at least $2 million in SeQure Dx revenue for the year.
Strong SPL Pipeline
MaxCyte signed TG Therapeutics and entered an agreement with Precision Biosciences, bringing the total number of active SPLs to 29, with expectations to sign 3-5 SPLs per year in 2025.
Cash Position and No Debt
MaxCyte finished the first quarter with $174.7 million in cash equivalents and investments, and no debt.