MaxCyte, Inc., (NASDAQ: MXCT; LSE: MXCT) is a leading commercial
cell-engineering company focused on providing enabling platform
technologies to advance innovative cell-based research as well as
next-generation cell therapeutic discovery, development and
commercialization. The Company today announced fourth quarter and
full year ended December 31, 2021 financial results and provided
initial 2022 revenue guidance.
Fourth Quarter and Year
Highlights
- Record quarterly
revenue of $10.2 million up 19% over Q4 2020 was driven by strength
in the core business; with growth in core business revenue from
cell therapy customers of 43% and drug discovery customers of
32%.
- Record full-year
total revenue of $33.9 million, up 30% over 2020, which was driven
by total growth in core business revenues of 37%. We generated a
total of $2.5 million in SPL Program-related revenue for the full
year 2021.
- 2022 initial
guidance includes expectations for core revenue growth of 22% to
25% over 2021 and SPL Program-related revenue of approximately $4
million.
- Conference call
begins at 4:30 p.m. Eastern time today.
“We are pleased to report very strong fourth
quarter and full year results driven by ongoing strength in sales
to cell therapy customers,” said Doug Doerfler, President and CEO
of MaxCyte. “2021 was an excellent year at MaxCyte, as we completed
our Nasdaq listing and made important and strategic investments in
our business, which are ongoing. We continue to expand our customer
base and increase the number of strategic partnerships, now with 16
SPL agreements in place following the announcement of our agreement
with Intima Bioscience in February 2022. Overall, MaxCyte remains
well-positioned to support growing adoption of the ExPERT™ platform
technology for cellular-based research and next-generation
therapeutic development.”
The following table provides details regarding the sources of
our revenue for the periods presented.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
Year Ended |
|
|
|
|
December 31,(Unaudited) |
|
|
|
December 31,(Unaudited) |
|
|
|
|
2021 |
|
2020 |
|
% |
|
2021 |
|
2020 |
|
% |
|
(in thousands, except
percentages) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cell therapy |
$ |
7,264 |
|
$ |
5,072 |
|
43 |
% |
|
$ |
22,984 |
|
$ |
15,769 |
|
46 |
% |
|
Drug discovery |
|
2,885 |
|
|
2,191 |
|
32 |
% |
|
|
8,395 |
|
|
7,143 |
|
18 |
% |
|
Program-related |
|
3 |
|
|
1,252 |
|
(100 |
)% |
|
|
2,515 |
|
|
3,257 |
|
(23 |
)% |
|
Total revenue |
$ |
10,152 |
|
$ |
8,515 |
|
19 |
% |
|
$ |
33,894 |
|
$ |
26,169 |
|
30 |
% |
|
Operational Highlights
- With the
addition of Myeloid Therapeutics, Inc., Celularity, Inc., Sana
Biotechnology, Inc., and Nkarta, Inc. signed in 2021, and Intima
Bioscience signed in early 2022, the total number of Strategic
Platform Licenses (SPLs) signed with our cell therapy partners now
stands at 16.
- Our 16 active
SPL partner agreements now allow an aggregate of over 95 potential
programs; over 15% of these have entered in the clinic (defined as
programs as with at least a cleared IND, or equivalent). If all
allowed programs successfully progress though the clinic to
commercial approval, we have the potential to generate
pre-commercial milestones of over $1.25 billion before potential
sales-based commercial revenue to MaxCyte. This compares to
the update from the prior year (January 2021) of 12 SPLs covering
over 75 programs (with total potential pre-commercial
milestones exceeding $950 million), over 15% of which had entered
the clinic.
- We closed 2021
with over 500 instruments placed with customers, compared to over
400 instruments as of the end of 2020.
- We successfully
released the VLx under our ExPERT platform, our large-scale Flow
Electroporation platform under the ExPERT brand; we have seen
strong initial interest from prospects in using the VLx for
large-scale bioprocessing applications.
- Dr. Cenk Sumen,
Ph.D. recently joined our team as Chief Scientific Officer. Dr
Sumen was previously CTO at Stemson Therapeutics and holds a Ph.D.
in Microbiology and Immunology from Stanford University, completed
his post-doctoral training at Harvard and a fellowship at the
Cancer Research Institute and worked at Memorial Sloan Kettering
Cancer Center under Nobel Laureate Dr. Jim Allison.
- We also launched
three new processing assemblies (our single-use disposables), the
R50x3, the R50x8 and the G1000, which were directly targeted to
both research and GMP customer needs and contributed to our growth
in fiscal 2021; particularly in the fourth quarter.
- Finally, we are
on track to move into our new corporate headquarters facility in
2022, which includes new office space, expanded applications and
process development lab facilities, and more than tripling of our
manufacturing space.
As of the dates presented, our key metrics described above were
as follows:
|
|
|
|
|
|
|
As of December 31, |
|
|
2021 |
2020* |
2019 |
Installed base of instruments
(sold or leased) |
|
>500 |
>400 |
>320 |
Number of active SPLs |
|
15 |
12 |
8 |
Total number of licensed
clinical programs (SPLs only) |
|
>95 |
>75 |
>55 |
Total number of licensed
clinical programs under SPLs currently in the clinic ** |
|
>15% |
>15% |
>5% |
Total potential pre-commercial
milestones under SPLs |
|
>$1.25 billion |
>$950 million |
>$650 million |
* Amounts presented as of December 31, 2020, give effect to one
SPL entered into and additional INDs cleared in January 2021.
** Number of licensed clinical programs under SPLs are by number
of product candidates and not by indication.
Fourth Quarter and Full Year 2021
Financial Results
Total revenue for the fourth quarter of 2021 was
$10.2 million, compared to $8.5 million in the fourth quarter of
2020, representing growth of 19%. Revenue from cell therapy
customers were collectively up 43% before program-related revenues
compared to the same period last year.
Our SPL partners did not achieve any milestone
events in the fourth quarter and thus there was no SPL
Program-related revenue in the quarter, as compared to $1.3 million
in SPL Program-related revenue in the fourth quarter of 2020.
Gross profit for the fourth quarter of 2021 was
$8.9 million (88% gross margin), compared to $7.6 million (89%
gross margin) in the same period of the prior year. The decrease in
gross margin was driven by the lower SPL Program-related revenues;
excluding SPL Program-related revenues, gross margin was relatively
unchanged.
Operating expenses for the fourth quarter of
2021 were $13.9 million, compared to operating expenses of $10.0
million in the fourth quarter of 2020. The overall increase in
operating expenses was primarily driven by increased headcount
across all areas of the business and an increase in stock-based
compensation.
Fourth quarter 2021 net loss was $4.9 million
compared to net loss of $2.7 million for the same period in 2020;
EBITDA, a non-GAAP measure, was a loss of $4.5 million for the
fourth quarter 2021, compared to a loss of $2.3 million for the
fourth quarter of prior year; stock-based compensation expense was
$2.4 million versus $0.8 million for the same period in the prior
year.
Full Year Financial Results
Total revenue for 2021 was $33.9 million,
compared to $26.2 million in 2020, representing growth of 30%. The
increase was primarily driven by growth in sales and licenses of
instruments and sales of disposables to cell therapy customers.
The Company recognized $2.5 million in SPL Program-related
revenue during 2021 (comprised of pre-commercial milestone
revenues) as compared to $3.3 million in SPL Program-related
revenue in 2020.
Gross profit for 2021 was $30.2 million (89%
gross margin), compared to $23.4 million (89% gross margin) in the
prior year.
Operating expenses for 2021 were $48.4 million,
compared to operating expenses of $34.5 million in 2020. The
overall increase in operating expenses was principally driven by an
increase in expenses associated with increased headcount, increased
stock-based compensation, and increased expenses due to our recent
NASDAQ public listing. Partially offsetting this expense increase
was a $5.8 million decline in CARMA™-related expenses compared with
last year. The Company had no material CARMA™ related expenses
after March 2021.
Full year 2021 net loss was $19.1 million
compared to a loss of $11.8 million in 2020; full year 2021 EBTIDA
was a loss of $17.4 million versus a loss of $10.4 million for the
prior year; total stock-based compensation for the full year was
$8.0 million versus $2.5 million for the prior year.
Total cash, cash equivalents and short-term
investments were $255.0 million as of December 31, 2021.
2022 Revenue Guidance
Management is providing initial 2022 revenue
guidance based on our expectations for the existing business.
We expect revenue from our core business
(instruments and disposables to cell therapy and drug discovery
customers) to grow between 22% and 25% over 2021. We also expect
SPL Program-related revenue to be approximately $4 million in
2022.
We intend to provide more context for the
trajectory of our SPL Program-related revenue on the earnings call
(details below).
Webcast and Conference Call
Details
MaxCyte will host a conference call today, March
22, 2022, at 4:30 p.m. Eastern Time. Interested parties may access
the live teleconference by dialing (844) 679-0933 for domestic
callers, (918) 922-6914 for international callers, for 0203 1070
289 U.K domestic callers, or for 0800 0288 438 U.K. international
callers followed by Conference ID: 2675034. A live and archived
webcast of the event will be available on the “Events” section of
the MaxCyte website at https://investors.maxcyte.com/.
Non-GAAP Financial Measures
This press release contains EBITDA, which is a
non-GAAP measure defined as net loss excluding depreciation,
amortization, income tax (benefit) expense and net interest
expense. MaxCyte believes that EBITDA provides useful information
to management and investors relating to its results of operations.
The company’s management uses this non-GAAP measure to compare the
company’s performance to that of prior periods for trend analyses,
and for budgeting and planning purposes. The company believes that
the use of EBITDA provides an additional tool for investors to use
in evaluating ongoing operating results and trends and in comparing
the company’s financial measures with other companies, many of
which present similar non-GAAP financial measures to investors, and
that it allows for greater transparency with respect to key metrics
used by management in its financial and operational
decision-making.
Management does not consider the non-GAAP
measure in isolation or as an alternative to financial measures
determined in accordance with GAAP. The principal limitation of the
non-GAAP financial measure is that it excludes significant expenses
that are required by GAAP to be recorded in the company’s financial
statements. In order to compensate for these limitations,
management presents the non-GAAP financial measure together with
GAAP results. Non-GAAP measures should be considered in addition to
results prepared in accordance with GAAP, but should not be
considered a substitute for, or superior to, GAAP results. A
reconciliation tables of the net loss, the most comparable GAAP
financial measure to EBITDA, is included at the end of this
release. MaxCyte urges investors to review the reconciliation and
not to rely on any single financial measure to evaluate the
company’s business.
About MaxCyte
MaxCyte is a leading commercial cell-engineering
company focused on providing enabling platform technologies to
advance innovative cell-based research as well as next-generation
cell therapeutic discovery, development and commercialization. Over
the past 20 years, we have developed and commercialized our
proprietary Flow Electroporation® platform, which facilitates
complex engineering of a wide variety of cells. 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
commercialization of next-generation, cell-based medicines. The
ExPERT family of products includes: four instruments, the ATx™,
STx™ GTx™ and VLx™; a portfolio of proprietary related processing
assemblies or disposables; and software protocols, all supported by
a robust worldwide intellectual property portfolio.
Forward-Looking Statements
This press release contains "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995, including but
not limited to, statements regarding our revenue guidance for the
year ending December 31, 2021 and expectations regarding adoption
of the ExPERT™ platform, expansion of and revenue from our SPL
Programs and the progression of our customers’ programs into and
through clinical trials. The words "may," “might,” "will," "could,"
"would," "should," "expect," "plan," "anticipate," "intend,"
"believe," “expect,” "estimate," “seek,” "predict," “future,”
"project," "potential," "continue," "target" and similar words or
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. Any forward-looking statements in this press
release are based on management's current expectations and beliefs
and are subject to a number of risks, uncertainties and important
factors that may cause actual events or results to differ
materially from those expressed or implied by any forward-looking
statements contained in this press release, including, without
limitation, risks associated with the impact of COVID-19 on our
operations; the timing of our customers’ ongoing and planned
clinical trials; the adequacy of our cash resources and
availability of financing on commercially reasonable terms; and
general market and economic conditions. These and other risks and
uncertainties are described in greater detail in the section
entitled "Risk Factors" in our Annual Report on Form 10-K for the
year ended December 31, 2021, to be filed with the Securities and
Exchange Commission on July 30, 2021, as well as discussions of
potential risks, uncertainties, and other important factors in the
other filings that we make with the Securities and Exchange
Commission from time to time. These documents are available under
the “SEC filings” page of the Investors section of our website at
http://investors.maxcyte.com. Any forward-looking statements
represent our views only as of the date of this press release and
should not be relied upon as representing our views as of any
subsequent date. We explicitly disclaim any obligation to update
any forward-looking statements, whether as a result of new
information, future events or otherwise. No representations or
warranties (expressed or implied) are made about the accuracy of
any such forward-looking statements.
MaxCyte Contacts:
US IR
Adviser Gilmartin Group David
Deuchler, CFA |
+1
415-937-5400 ir@maxcyte.com |
US Media
RelationsValerie
EnesSeismicNominated Adviser and Joint Corporate
Broker Panmure Gordon Emma Earl / Freddy
Crossley Corporate Broking Rupert Dearden |
+1 408-497-8568+44
(0)20 7886 2500 |
UK IR
AdviserConsilium Strategic
CommunicationsMary-Jane ElliottChris Welsh |
+44 (0)203 709
5700maxcyte@consilium-comms.com |
|
|
MaxCyte, Inc.Unaudited Consolidated
Balance Sheets
|
|
|
|
|
|
|
|
|
December 31, |
|
|
2021 |
|
2020 |
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
Current
assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
47,782,400 |
|
|
$ |
18,755,200 |
|
Short-term investments, at
amortized cost |
|
|
207,261,400 |
|
|
|
16,007,500 |
|
Accounts receivable, net |
|
|
6,877,000 |
|
|
|
5,171,900 |
|
Inventory |
|
|
5,204,600 |
|
|
|
4,315,800 |
|
Prepaid expenses and other
current assets |
|
|
3,307,400 |
|
|
|
1,003,000 |
|
Total current
assets |
|
|
270,432,800 |
|
|
|
45,253,400 |
|
|
|
|
|
|
|
|
Property and equipment,
net |
|
|
7,681,200 |
|
|
|
4,546,200 |
|
Right of use asset - operating
leases |
|
|
5,689,300 |
|
|
|
1,728,300 |
|
Right of use asset - finance
leases |
|
|
- |
|
|
|
218,300 |
|
Other assets |
|
|
316,700 |
|
|
|
33,900 |
|
Total
assets |
|
$ |
284,120,000 |
|
|
$ |
51,780,100 |
|
|
|
|
|
|
|
|
Liabilities and
stockholders’ equity |
|
|
|
|
|
|
Current
liabilities: |
|
|
|
|
|
|
Accounts payable |
|
$ |
1,820,300 |
|
|
$ |
890,200 |
|
Accrued expenses and
other |
|
|
6,523,500 |
|
|
|
5,308,500 |
|
Operating lease liability,
current |
|
|
527,200 |
|
|
|
572,600 |
|
Deferred revenue, current
portion |
|
|
6,746,800 |
|
|
|
4,843,000 |
|
Total current
liabilities |
|
|
15,617,800 |
|
|
|
11,614,300 |
|
|
|
|
|
|
|
|
Note payable, net of discount,
and deferred fees |
|
|
— |
|
|
|
4,917,000 |
|
Operating lease liability, net
of current portion |
|
|
5,154,900 |
|
|
|
1,234,600 |
|
Other liabilities |
|
|
450,200 |
|
|
|
788,800 |
|
Total
liabilities |
|
|
21,222,900 |
|
|
|
18,554,700 |
|
|
|
|
|
|
|
|
Commitments and
contingencies (Note 9) |
|
|
|
|
|
|
Stockholders’
equity |
|
|
|
|
|
|
Preferred stock, $0.01 par
value; 5,000,000 and no shares authorized at December 31, 2021 and
2020, respectively; no shares issued and outstanding |
|
|
— |
|
|
|
— |
|
Common stock, $0.01 par value;
400,000,000 and 200,000,000 shares authorized, 101,202,705 and
77,382,473 shares issued and outstanding at
December 31, 2021 and 2020, respectively |
|
|
1,012,000 |
|
|
|
773,800 |
|
Additional paid-in
capital |
|
|
376,189,600 |
|
|
|
127,673,900 |
|
Accumulated deficit |
|
|
(114,304,500 |
) |
|
|
(95,222,300 |
) |
Total stockholders’
equity |
|
|
262,897,100 |
|
|
|
33,225,400 |
|
Total liabilities and
stockholders’ equity |
|
$ |
284,120,000 |
|
|
$ |
51,780,100 |
|
MaxCyte, Inc.Unaudited Consolidated
Statements of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, |
|
Year Ended December 31, |
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Revenue |
|
$ |
10,152,000 |
|
|
$ |
8,514,000 |
|
|
$ |
33,894,100 |
|
|
$ |
26,168,900 |
|
Cost of goods sold |
|
|
1,225,900 |
|
|
|
906,900 |
|
|
|
3,647,400 |
|
|
|
2,767,000 |
|
Gross
profit |
|
|
8,926,100 |
|
|
|
7,607,100 |
|
|
|
30,246,700 |
|
|
|
23,401,900 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
|
3,381,000 |
|
|
|
4,893,000 |
|
|
|
15,407,300 |
|
|
|
17,734,800 |
|
Sales and marketing |
|
|
4,089,400 |
|
|
|
2,395,700 |
|
|
|
13,002,900 |
|
|
|
8,328,700 |
|
General and
administrative |
|
|
5,969,000 |
|
|
|
2,370,200 |
|
|
|
18,676,000 |
|
|
|
7,370,000 |
|
Depreciation and
amortization |
|
|
441,900 |
|
|
|
329,700 |
|
|
|
1,349,100 |
|
|
|
1,025,100 |
|
Total operating
expenses |
|
|
13,881,300 |
|
|
|
9,988,600 |
|
|
|
48,435,300 |
|
|
|
34,458,600 |
|
Operating
loss |
|
|
(4,955,200 |
) |
|
|
(2,381,500 |
) |
|
|
(18,188,600 |
) |
|
|
(11,056,700 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income
(expense): |
|
|
|
|
|
|
|
|
|
|
|
|
Interest and other
expense |
|
|
— |
|
|
|
(280,600 |
) |
|
|
(1,044,400 |
) |
|
|
(825,600 |
) |
Interest income |
|
|
80,800 |
|
|
|
10,400 |
|
|
|
150,800 |
|
|
|
65,900 |
|
Total other income
(expense) |
|
|
80,800 |
|
|
|
(270,200 |
) |
|
|
(893,600 |
) |
|
|
(759,700 |
) |
Provision for income
taxes |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Net loss |
|
$ |
(4,874,400 |
) |
|
$ |
(2,651,700 |
) |
|
$ |
(19,082,200 |
) |
|
$ |
(11,816,400 |
) |
Basic and diluted net
loss per share |
|
$ |
(0.05 |
) |
|
$ |
(0.03 |
) |
|
$ |
(0.21 |
) |
|
$ |
(0.17 |
) |
Weighted average
shares outstanding, basic and diluted |
|
|
100,829,377 |
|
|
|
77,364,583 |
|
|
|
90,619,057 |
|
|
|
69,464,751 |
|
MaxCyte, Inc.Unaudited Consolidated
Statements of Cash Flows
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2021 |
|
|
2020 |
|
Cash flows from
operating activities: |
|
|
|
|
|
|
Net loss |
|
$ |
(19,082,200 |
) |
|
$ |
(11,816,400 |
) |
|
|
|
|
|
|
|
Adjustments to reconcile net
loss to net cash used in operating activities: |
|
|
|
|
|
|
Depreciation and amortization |
|
|
1,423,900 |
|
|
|
1,047,700 |
|
Net book value of consigned equipment sold |
|
|
51,600 |
|
|
|
79,900 |
|
Loss on disposal of fixed assets |
|
|
32,500 |
|
|
|
25,900 |
|
Fair value adjustment of liability classified warrant |
|
|
645,400 |
|
|
|
366,500 |
|
Stock-based compensation |
|
|
7,958,800 |
|
|
|
2,471,800 |
|
Bad debt (recovery) expense |
|
|
- |
|
|
|
(117,200 |
) |
Amortization of discounts on short-term investments |
|
|
(70,300 |
) |
|
|
(3,800 |
) |
Non-cash interest expense |
|
|
5,400 |
|
|
|
21,700 |
|
|
|
|
|
|
|
|
Changes in operating assets
and liabilities: |
|
|
|
|
|
|
Accounts receivable |
|
|
(1,705,100 |
) |
|
|
(1,810,200 |
) |
Inventory |
|
|
(1,405,800 |
) |
|
|
(890,600 |
) |
Other current assets |
|
|
(2,304,400 |
) |
|
|
(205,900 |
) |
Right of use asset – operating leases |
|
|
(3,806,200 |
) |
|
|
525,000 |
|
Right of use asset – finance lease |
|
|
63,500 |
|
|
|
83,400 |
|
Other assets |
|
|
(282,800 |
) |
|
|
(33,900 |
) |
Accounts payable, accrued expenses and other |
|
|
2,090,900 |
|
|
|
391,000 |
|
Operating lease liability |
|
|
3,874,900 |
|
|
|
(508,800 |
) |
Deferred revenue |
|
|
1,903,800 |
|
|
|
1,649,800 |
|
Other liabilities |
|
|
(73,500 |
) |
|
|
(58,000 |
) |
Net cash used in operating
activities |
|
|
(10,679,600 |
) |
|
|
(8,782,100 |
) |
|
|
|
|
|
|
|
Cash flows from
investing activities: |
|
|
|
|
|
|
Purchases of short-term
investments |
|
|
(268,683,600 |
) |
|
|
(22,505,900 |
) |
Maturities of short-term
investments |
|
|
77,500,000 |
|
|
|
8,000,000 |
|
Purchases of property and
equipment |
|
|
(3,834,200 |
) |
|
|
(2,072,100 |
) |
Proceeds from sale of
equipment |
|
|
4,600 |
|
|
|
— |
|
Net cash (used in) provided by investing activities |
|
|
(195,013,200 |
) |
|
|
(16,578,000 |
) |
|
|
|
|
|
|
|
Cash flows from
financing activities: |
|
|
|
|
|
|
Net proceeds from issuance of
common stock |
|
|
51,808,900 |
|
|
|
28,567,200 |
|
Net proceeds from issuance of
common stock upon initial public offering |
|
|
184,268,400 |
|
|
|
— |
|
Borrowings under notes
payable |
|
|
- |
|
|
|
1,440,000 |
|
Principal payments on notes
payable |
|
|
(4,922,400 |
) |
|
|
(1,440,000 |
) |
Proceeds from exercise of
stock options |
|
|
3,631,200 |
|
|
|
401,000 |
|
Principal payments on finance
leases |
|
|
(66,100 |
) |
|
|
(63,700 |
) |
Net cash provided by financing activities |
|
|
234,720,000 |
|
|
|
28,904,500 |
|
Net increase in cash and cash
equivalents |
|
|
29,027,200 |
|
|
|
3,544,400 |
|
Cash and cash equivalents,
beginning of year |
|
|
18,755,200 |
|
|
|
15,210,800 |
|
Cash and cash equivalents, end
of year |
|
$ |
47,782,400 |
|
|
$ |
18,755,200 |
|
Unaudited Reconciliation of Net Loss to
EBITDA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Year Ended |
|
|
December 31, |
|
December 31, |
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
(in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
$ |
(4,874 |
) |
|
$ |
(2,652 |
) |
|
$ |
(19,082 |
) |
|
$ |
(11,816 |
) |
|
Depreciation and amortization
expense |
|
417 |
|
|
|
279 |
|
|
|
1,424 |
|
|
|
1,047 |
|
|
Interest expense, net |
|
(81 |
) |
|
|
100 |
|
|
|
239 |
|
|
|
387 |
|
|
Income taxes |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
EBITDA |
$ |
(4,538 |
) |
|
$ |
(2,273 |
) |
|
$ |
(17,419 |
) |
|
$ |
(10,382 |
) |
|
Maxcyte (LSE:MXCN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Maxcyte (LSE:MXCN)
Historical Stock Chart
From Jul 2023 to Jul 2024