MaxCyte Q1 Revenue $9.7M; Core Down 25%, SPL Up 62%, $10M Buyback
MXCT•MaxCyte’s Q1 revenue totaled $9.7 million, with core revenue down 25% to $6.2 million and SPL Program revenue up 62% to $3.4 million, narrowing net loss to $4.8 million. The board approved a $10 million share repurchase and reaffirmed 2026 revenue guidance of $30–32 million, including $25–27 million in core sales.
1. First Quarter Financial Results
First quarter 2026 revenue was $9.7 million, down 7% year-over-year, driven by a 25% decrease in core revenue to $6.2 million and a 62% increase in SPL Program revenue to $3.4 million. Gross profit reached $8.1 million (84% margin) and net loss narrowed to $4.8 million from $10.3 million.
2. SPL Program Developments
SPL Program-related revenue rose to $3.4 million from $2.1 million, reflecting 29 active license agreements. Of these, 12 programs are in clinical stages, one is commercial, and a registrational study began patient dosing in Q1.
3. Share Repurchase Authorization
The board authorized a share repurchase program of up to $10 million over one year, providing flexibility to return capital while supporting ongoing investments in ExPERT DTx and SeQure Dx integration.
4. Full Year 2026 Guidance
MaxCyte reiterated full year revenue guidance of $30–32 million, including $25–27 million in core business and approximately $5 million from SPL Program milestones and royalties. The company expects to end 2026 with at least $136 million in cash and investments.
