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 and to
support innovative, cell-based research, today announced its fourth
quarter and full year ended December 31, 2022, financial results
and provided initial 2023 revenue guidance.
Fourth Quarter and Full Year
Highlights
- Total revenue of
$12.4 million in the fourth quarter of 2022, an increase of 22%
over the fourth quarter of 2021.
- Core business
revenues grew 4% in the fourth quarter of 2022, with revenue growth
from cell therapy customers growing 4% and revenue from drug
discovery customers growing by 5%, over the fourth quarter of
2021.
- Total revenue of
$44.3 million for the full year 2022, an increase of 31% over the
full year 2021.
- Full year 2022
core business revenues grew 26%, led by cell therapy revenue growth
of 33%, and revenue from drug discovery growing 8%.
- Initial 2023
guidance for total revenue growth of 21% to 26% over 2022,
including core revenue growth of 20% to 25% over 2022, and
Strategic Platform License (SPL) program-related revenue of
approximately $6 million.
- Total cash, cash
equivalents and short-term investments were $227.3 million as of
December 31, 2022.
“We are pleased with our strong progress and
performance in 2022 and look forward to continuing this positive
momentum into 2023. Over the course of the year, we have made
significant investments in our people, manufacturing capacity, and
R&D infrastructure, which positions us well for our next stage
of growth,” said Doug Doerfler, President and CEO of MaxCyte.
“Our portfolio of partnerships continued to grow
throughout 2022, having announced three new SPL partnerships as
well as the recent addition of Catamaran Bio as a partner in early
2023. We also entered into a partnership with Vertex following the
transfer of the exa-cel program from CRISPR. The partnership
maintains our role in this program, for which Vertex is currently
seeking regulatory marketing approval in the United States and
Europe for Sickle Cell Disease and Beta-Thalassemia. We are
continuing to see our partners make strong progress across their
clinical programs and are focused on providing them with the
in-house manufacturing and regulatory support that they will
require as they move towards commercialization. Our partnership
pipeline remains robust and growing as we begin 2023 and we are
excited to see our partners achieve upcoming milestones and move
the cell therapy industry forward.”
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) |
|
|
|
|
2022 |
|
2021 |
|
% |
|
2022 |
|
2021 |
|
% |
|
(in thousands,
except percentages) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cell therapy |
$ |
7,544 |
|
$ |
7,264 |
|
4 |
% |
|
$ |
30,546 |
|
$ |
22,984 |
|
33 |
% |
|
Drug
discovery |
|
3,026 |
|
|
2,885 |
|
5 |
% |
|
|
9,100 |
|
|
8,395 |
|
8 |
% |
|
Program-related |
|
1,854 |
|
|
3 |
|
NM* |
|
|
4,616 |
|
|
2,515 |
|
83 |
% |
|
Total revenue |
$ |
12,424 |
|
$ |
10,152 |
|
22 |
% |
|
$ |
44,262 |
|
$ |
33,894 |
|
31 |
% |
|
* Not Meaningful (NM)
Operational Highlights
- Ended the year
with 18 SPL partnerships, with the addition of partnerships with
Intima Bioscience, LG Chem, and Curamys in 2022. With the addition
of an SPL partnership with Catamaran Bio in early 2023, the total
number of partnerships now stands at 19. Vertex Pharmaceuticals
will use MaxCyte’s Flow Electroporation® technology and ExPERT™
platform to support the gene-edited hemoglobinopathy cell therapy
exa-cel, formerly known under CRISPR as CTX001™. We entered into an
SPL partnership with Vertex in 2022 for this transferred program.
In addition, we retained our partnership with CRISPR therapeutics
supporting CRISPR/Cas9-based therapies in immuno-oncology.
- As of December
31, 2022, our 18 active SPL partner agreements allowed for over 125
potential programs; 16 of which were active programs currently in
the clinic (defined as programs with at least a cleared IND or
equivalent). If all potential programs successfully progress
through the clinic to commercial approval, we estimate aggregate
potential to generate pre-commercial milestone payments to us of
over $1.55 billion in addition to sales-based commercial revenue
due to us under existing agreements. At the end of 2021, there were
15 SPL partnerships covering over 95 programs with total
potential pre-commercial milestones exceeding $1.25
billion.
- As of December
31, 2022, we had over 600 instruments placed with customers,
compared to over 500 instruments at the end of 2021.
- Launched the
ExPERT branded VLx™, our large-scale Flow Electroporation
platform.
- Completed and
occupied our new, 67,000 square foot, state of the art headquarters
in Maryland’s I-270 biotech corridor, significantly increasing our
in-house manufacturing capacity, as well as research and process
development lab space.
- Appointed
Patrick J. Balthrop, Sr. to our board of directors as a
non-executive member. Mr. Balthrop will also serve on the
nominating and corporate governance committees of our board of
directors.
In addition to revenue, management regularly
reviews key business metrics to evaluate our business, measure
performance, identify trends affecting our business, formulate
financial projections and make strategic decisions. As of the dates
presented, these key metrics were as follows:
|
|
|
|
|
|
|
As of December 31, |
|
|
2022 |
2021 |
2020* |
Installed base of instruments
(sold or leased) |
|
>600 |
>500 |
>400 |
Number of active SPL
partnerships |
|
18 |
15 |
12 |
Total number of licensed
clinical programs (SPL partnerships only) |
|
>125 |
>95 |
>75 |
Total number of active
licensed clinical programs under SPL partnerships currently in the
clinic ** |
|
16 |
15 |
7 |
Total potential pre-commercial
milestones under SPL partnerships |
|
>$1.55 billion |
>$1.25 billion |
>$950 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 2022 Financial
Results
Total revenue for the fourth quarter of 2022 was
$12.4 million, compared to $10.2 million in the fourth quarter of
2021, representing growth of 22%.
Core business revenue (instruments and
disposables to cell therapy and drug discovery customers and
excluding program-related revenue) was $10.6 million in 2022,
compared to core business revenue of $10.1 million in 2021,
representing growth of 4%, including 4% revenue growth from cell
therapy customers and 5% revenue growth from drug discovery
customers.
Our SPL program-related revenue was $1.9 million
in the fourth quarter of 2022 as compared to immaterial SPL
program-related revenue in the fourth quarter of 2021.
Gross profit for the fourth quarter of 2022 was
$10.9 million (88% gross margin), compared to $8.9 million (88%
gross margin) in the fourth quarter of 2021.
Operating expenses for the fourth quarter of
2022 were $17.6 million, compared to operating expenses of $13.9
million in the fourth quarter of 2021. The overall increase in
operating expenses was primarily driven by increases in R&D,
sales, and marketing headcount and occupancy expenses related to
our new corporate headquarters.
Net loss for the fourth quarter of 2022 was $4.8
million compared to net loss of $4.9 million in the fourth quarter
of 2021. EBITDA, a non-GAAP measure, was a loss of $5.8 million for
the fourth quarter of 2022, compared to a loss of $4.5 million for
the fourth quarter of 2021; stock-based compensation expense was
$3.1 million in the fourth quarter of 2022 compared to $2.4 million
in the fourth quarter of 2021.
Full Year 2022 Financial
Results
Total revenue for 2022 was $44.3 million,
compared to $33.9 million in 2021, representing growth of 31%.
Core business revenue for 2022 was $39.6
million, compared to $31.4 million for 2021, representing growth of
26%, including 33% revenue growth from cell therapy customers and
8% revenue growth from drug discovery customers.
Our SPL program-related revenue for 2022 was
$4.6 million, compared to $2.5 million in SPL program-related
revenue in 2021, representing growth of 83% in 2022.
Gross profit for 2022 was $39.2 million (88%
gross margin), compared to $30.2 million (89% gross margin) in the
prior year.
Operating expenses for 2022 were $66.5 million,
compared to operating expenses of $48.4 million in 2021. The
overall increase in operating expenses was principally driven by
increases in headcount, occupancy, and public company expenses.
Full year 2022 net loss was $23.6 million
compared to a loss of $19.1 million in 2021. Full year 2022 EBITDA
was a loss of $24.8 million compared to a loss of $17.4 million in
2021; total stock-based compensation for 2022 was $11.8 million,
compared to $8.0 million for 2021.
Total cash, cash equivalents and short-term
investments were $227.3 million as of December 31, 2022, compared
to $255.0 million as of December 31, 2021.
2023 Revenue Guidance
Management is providing initial 2023 revenue
guidance for total revenue, core business revenue and SPL
program-related revenue.
Management expects full year 2023 total revenue
growth of between 21% and 26% over 2022 including core business
revenue growth of between 20% and 25% over 2022, and SPL
program-related revenue of approximately $6 million.
Webcast and Conference Call
Details
MaxCyte will host a conference call today, March
15, 2023, at 4:30 p.m. Eastern Time. Investors interested in
listening to the conference call are required to register online. A
live and archived webcast of the event will be available on the
“Events” section of the MaxCyte website at
https://investors.maxcyte.com/.
About MaxCyte
MaxCyte is a leading, cell-engineering focused
company providing enabling platform technologies to advance the
discovery, development and commercialization of next-generation
cell therapeutics and to support innovative, cell-based research.
Over the past 20 years, we have developed and commercialized our
proprietary Flow Electroporation® technology, 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.
Non-GAAP Financial Measures
This press release contains EBITDA, which is a
non-GAAP measure defined as earnings before interest income and
expense, taxes, depreciation and amortization. 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 EBITDA in isolation
or as an alternative to financial measures determined in accordance
with GAAP. The principal limitation of EBITDA 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 EBITDA 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 table of 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.
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 expected total revenue growth,
core business revenue growth and SPL program-related revenue for
the year ending December 31, 2023, expansion of and revenue from
our SPLs 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 timing of our customers’
ongoing and planned clinical trials; the adequacy of our cash
resources and availability of financing on commercially reasonable
terms; general market and economic conditions that may impact
investor confidence in the biopharmaceutical industry and affect
the amount of capital such investors provide to our current and
potential partners; and demand for our products. 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, 2022, to be filed with the
Securities and Exchange Commission on or about March 15, 2023, as
well as in 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 AdviserGilmartin
GroupDavid Deuchler, CFA+1 415-937-5400ir@maxcyte.com
US Media RelationsSeismic
Collaborative, A Spectrum Science CompanyValerie Enes+1
408-497-8568valerie@teamseismic.com
Nominated Adviser and Joint Corporate
BrokerPanmure GordonEmma Earl / Freddy
CrossleyCorporate BrokingRupert Dearden+44 (0)20 7886 2500
UK IR AdviserConsilium Strategic
CommunicationsMary-Jane Elliott / Chris Welsh+44 (0)203
709 5700maxcyte@consilium-comms.com
MaxCyte, Inc.Consolidated Balance
Sheets
|
|
|
|
|
|
|
|
|
December 31, |
|
|
2022 |
|
2021 |
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
Current
assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
11,064,700 |
|
|
$ |
47,782,400 |
|
Short-term investments, at
amortized cost |
|
|
216,274,900 |
|
|
|
207,261,400 |
|
Accounts receivable |
|
|
11,654,600 |
|
|
|
6,877,000 |
|
Accounts receivable - TIA |
|
|
1,912,400 |
|
|
|
— |
|
Inventory |
|
|
8,580,800 |
|
|
|
5,204,600 |
|
Prepaid expenses and other
current assets |
|
|
2,778,800 |
|
|
|
3,307,400 |
|
Total current
assets |
|
|
252,266,200 |
|
|
|
270,432,800 |
|
|
|
|
|
|
|
|
Property and equipment,
net |
|
|
23,724,700 |
|
|
|
7,681,200 |
|
Right-of-use asset - operating
leases |
|
|
9,853,500 |
|
|
|
5,689,300 |
|
Other assets |
|
|
809,000 |
|
|
|
316,700 |
|
Total
assets |
|
$ |
286,653,400 |
|
|
$ |
284,120,000 |
|
|
|
|
|
|
|
|
Liabilities and
stockholders’ equity |
|
|
|
|
|
|
Current
liabilities: |
|
|
|
|
|
|
Accounts payable |
|
$ |
531,800 |
|
|
$ |
1,820,300 |
|
Accrued expenses and
other |
|
|
8,025,300 |
|
|
|
6,523,500 |
|
Operating lease liability,
current |
|
|
156,800 |
|
|
|
527,200 |
|
Deferred revenue, current
portion |
|
|
6,712,600 |
|
|
|
6,746,800 |
|
Total current
liabilities |
|
|
15,426,500 |
|
|
|
15,617,800 |
|
|
|
|
|
|
|
|
Operating lease liability, net
of current portion |
|
|
15,938,100 |
|
|
|
5,154,900 |
|
Other liabilities |
|
|
1,321,600 |
|
|
|
450,200 |
|
Total
liabilities |
|
|
32,686,200 |
|
|
|
21,222,900 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders’
equity |
|
|
|
|
|
|
Preferred stock, $0.01 par
value; 5,000,000 shares authorized and no shares issued and
outstanding at December 31, 2022 and 2021 |
|
|
— |
|
|
|
— |
|
Common stock, $0.01 par value;
400,000,000 shares authorized, 102,397,913 and 101,202,705 shares
issued and outstanding at December 31, 2022 and
December 31, 2021, respectively |
|
|
1,024,000 |
|
|
|
1,012,000 |
|
Additional paid-in
capital |
|
|
390,818,500 |
|
|
|
376,189,600 |
|
Accumulated deficit |
|
|
(137,875,300 |
) |
|
|
(114,304,500 |
) |
Total stockholders’
equity |
|
|
253,967,200 |
|
|
|
262,897,100 |
|
Total liabilities and
stockholders’ equity |
|
$ |
286,653,400 |
|
|
$ |
284,120,000 |
|
* Tenant improvement allowance (“TIA”)
MaxCyte, Inc.Consolidated Statements
of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, |
|
Year Ended December 31, |
|
|
2022 |
|
2021 |
|
2022 |
|
2021 |
Revenue |
|
$ |
12,423,600 |
|
|
$ |
10,152,000 |
|
|
$ |
44,261,500 |
|
|
$ |
33,894,100 |
|
Cost of goods sold |
|
|
1,546,500 |
|
|
|
1,225,900 |
|
|
|
5,098,400 |
|
|
|
3,647,400 |
|
Gross
profit |
|
|
10,877,100 |
|
|
|
8,926,100 |
|
|
|
39,163,100 |
|
|
|
30,246,700 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
|
5,728,000 |
|
|
|
3,381,000 |
|
|
|
19,514,400 |
|
|
|
15,407,300 |
|
Sales and marketing |
|
|
5,376,900 |
|
|
|
4,089,400 |
|
|
|
18,652,900 |
|
|
|
13,002,900 |
|
General and
administrative |
|
|
5,649,100 |
|
|
|
5,969,000 |
|
|
|
25,828,700 |
|
|
|
18,676,000 |
|
Depreciation and
amortization |
|
|
873,300 |
|
|
|
441,900 |
|
|
|
2,527,600 |
|
|
|
1,349,100 |
|
Total operating
expenses |
|
|
17,627,300 |
|
|
|
13,881,300 |
|
|
|
66,523,600 |
|
|
|
48,435,300 |
|
Operating
loss |
|
|
(6,750,200 |
) |
|
|
(4,955,200 |
) |
|
|
(27,360,500 |
) |
|
|
(18,188,600 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income
(expense): |
|
|
|
|
|
|
|
|
|
|
|
|
Interest and other
expense |
|
|
(10,900 |
) |
|
|
- |
|
|
|
(126,900 |
) |
|
|
(1,044,400 |
) |
Interest income |
|
|
1,951,700 |
|
|
|
80,800 |
|
|
|
3,916,600 |
|
|
|
150,800 |
|
Total other income
(expense) |
|
|
1,940,800 |
|
|
|
80,800 |
|
|
|
3,789,700 |
|
|
|
(893,600 |
) |
Net loss |
|
$ |
(4,809,400 |
) |
|
$ |
(4,874,400 |
) |
|
$ |
(23,570,800 |
) |
|
$ |
(19,082,200 |
) |
Basic and diluted net
loss per share |
|
$ |
(0.05 |
) |
|
$ |
(0.05 |
) |
|
$ |
(0.23 |
) |
|
$ |
(0.21 |
) |
Weighted average
shares outstanding, basic and diluted |
|
|
102,120,812 |
|
|
|
100,829,377 |
|
|
|
101,702,664 |
|
|
|
90,619,057 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MaxCyte, Inc.Consolidated Statements
of Cash Flows
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2022 |
|
2021 |
Cash flows from
operating activities: |
|
|
|
|
|
|
Net loss |
|
$ |
(23,570,800 |
) |
|
$ |
(19,082,200 |
) |
|
|
|
|
|
|
|
Adjustments to reconcile net
loss to net cash used in operating activities: |
|
|
|
|
|
|
Depreciation and
amortization |
|
|
2,697,900 |
|
|
|
1,423,900 |
|
Net book value of consigned
equipment sold |
|
|
76,400 |
|
|
|
51,600 |
|
Loss on disposal of fixed
assets |
|
|
139,500 |
|
|
|
32,500 |
|
Fair value adjustment of
liability classified warrant |
|
|
— |
|
|
|
645,400 |
|
Stock-based compensation |
|
|
11,752,400 |
|
|
|
7,958,800 |
|
Amortization of discounts on
short-term investments |
|
|
(2,667,400 |
) |
|
|
(70,300 |
) |
Non-cash interest expense |
|
|
— |
|
|
|
5,400 |
|
|
|
|
|
|
|
|
Changes in operating assets
and liabilities: |
|
|
|
|
|
|
Accounts receivable |
|
|
(4,777,600 |
) |
|
|
(1,705,100 |
) |
Accounts receivable – TIA |
|
|
(1,912,400 |
) |
|
|
— |
|
Inventory |
|
|
(3,493,300 |
) |
|
|
(1,405,800 |
) |
Prepaid expense and other
current assets |
|
|
528,600 |
|
|
|
(2,304,400 |
) |
Right of use asset – operating
leases |
|
|
(4,164,200 |
) |
|
|
(3,806,200 |
) |
Right of use asset – finance
lease |
|
|
— |
|
|
|
63,500 |
|
Other assets |
|
|
(492,300 |
) |
|
|
(282,800 |
) |
Accounts payable, accrued
expenses and other |
|
|
(149,700 |
) |
|
|
2,090,900 |
|
Operating lease liability |
|
|
10,412,800 |
|
|
|
3,874,900 |
|
Deferred revenue |
|
|
(34,200 |
) |
|
|
1,903,800 |
|
Other liabilities |
|
|
871,400 |
|
|
|
(73,500 |
) |
Net cash used in operating
activities |
|
|
(14,782,900 |
) |
|
|
(10,679,600 |
) |
|
|
|
|
|
|
|
Cash flows from
investing activities: |
|
|
|
|
|
|
Purchases of short-term
investments |
|
|
(290,942,100 |
) |
|
|
(268,683,600 |
) |
Maturities of short-term
investments |
|
|
284,596,000 |
|
|
|
77,500,000 |
|
Purchases of property and
equipment |
|
|
(18,477,200 |
) |
|
|
(3,834,200 |
) |
Proceeds from sale of
equipment |
|
|
— |
|
|
|
4,600 |
|
Net cash used in investing
activities |
|
|
(24,823,300 |
) |
|
|
(195,013,200 |
) |
|
|
|
|
|
|
|
Cash flows from
financing activities: |
|
|
|
|
|
|
Net proceeds from issuance of
common stock |
|
|
— |
|
|
|
51,808,900 |
|
Net proceeds from issuance of
common stock upon initial public offering |
|
|
— |
|
|
|
184,268,400 |
|
Principal payments on notes
payable |
|
|
— |
|
|
|
(4,922,400 |
) |
Proceeds from exercise of
stock options |
|
|
2,888,500 |
|
|
|
3,631,200 |
|
Principal payments on finance
leases |
|
|
— |
|
|
|
(66,100 |
) |
Net cash provided by financing
activities |
|
|
2,888,500 |
|
|
|
234,720,000 |
|
Net (decrease) increase in
cash and cash equivalents |
|
|
(36,717,700 |
) |
|
|
29,027,200 |
|
Cash and cash equivalents,
beginning of year |
|
|
47,782,400 |
|
|
|
18,755,200 |
|
Cash and cash equivalents, end
of year |
|
$ |
11,064,700 |
|
|
$ |
47,782,400 |
|
|
|
|
|
|
|
|
Unaudited Reconciliation of Net Loss to
EBITDA
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Year Ended |
|
December 31, |
|
December 31, |
|
2022 |
|
2021 |
|
2022 |
|
2021 |
(in thousands) |
|
|
|
|
|
|
|
|
|
|
|
Net loss |
$ |
(4,809 |
) |
|
$ |
(4,874 |
) |
|
$ |
(23,571 |
) |
|
$ |
(19,082 |
) |
Depreciation and amortization
expense |
|
920 |
|
|
|
417 |
|
|
|
2,698 |
|
|
|
1,424 |
|
Interest (income) expense,
net |
|
(1,952 |
) |
|
|
(81 |
) |
|
|
(3,917 |
) |
|
|
239 |
|
Income taxes |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
EBITDA |
$ |
(5,842 |
) |
|
$ |
(4,538 |
) |
|
$ |
(24,789 |
) |
|
$ |
(17,419 |
) |
Maxcyte (LSE:MXCN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Maxcyte (LSE:MXCN)
Historical Stock Chart
From Jul 2023 to Jul 2024