MaxCyte Q2 revenue beats estimates
MXCT•Outlook
- MaxCyte sees 2026 revenue at $30 million to $32 million
- Company expects 2026 core revenue of $25 million to $27 million
- MaxCyte expects to end 2026 with at least $130.5 million in cash, equivalents and investments
Overview
- US cell engineering platform's Q2 revenue fell 15% yr/yr but beat analyst expectations
- Q2 adjusted EBITDA loss was larger than analyst consensus
- Company repurchased $5.5 million in stock and announced a Genentech partnership post-quarter
Analyst coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"
- Wall Street's median 12-month price target for MaxCyte Inc is $4.50, about 262.9% above its August 11 closing price of $1.24
Result drivers and key details
- Instrument placements — Co said execution on instrument placements supported Q2 results
- — SPL Program-related revenue rose, driven by growing commercial royalty revenue and advancement of SPL programs through the clinic
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