MaxCyte Q1 Revenue $9.65M, Exceeds Expectations
Reports Q1 revenue $9.65M, consensus $7.3M. "We are pleased with our performance in the first quarter, and remain confident in our full year guidance," said Maher Masoud, President and CEO of MaxCyte. "Our core revenue from partners and customers was in line with our expectations for both our ExPERT electroporation platforms and SeQure services. The SPL portfolio continues to advance in the clinic, including a clinical customer that began dosing patients in a registrational study in the first quarter, and we remain confident additional customers will initiate registrational trials this year. Further, our SPL portfolio remains strong and spans a broad range of modalities and indications. MaxCyte remains extremely well positioned in the cell & gene therapy industry, with leading technology and an efficient cost structure. Reflecting continued confidence in our strategy and the long-term value of our business, the Board today authorized a $10 million share repurchase. This authorization provides us with flexibility in capital allocation while we continue to invest in key growth initiatives, including the recent launch of ExPERT DTx and the integration of SeQure Dx. We believe this balanced approach enables us to both reinvest in the business and return capital to shareholders."
