Form 8-K
8-K — MAXCYTE, INC.
Accession: 0001104659-26-059399
Filed: 2026-05-12
Period: 2026-05-12
CIK: 0001287098
SIC: 8731 (SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — mxct-20260512x8k.htm (Primary)
EX-99.1 (mxct-20260512xex99d1.htm)
EX-99.2 (mxct-20260512xex99d2.htm)
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8-K
8-K (Primary)
Filename: mxct-20260512x8k.htm · Sequence: 1
MaxCyte, Inc._May 12, 2026
0001287098false00012870982026-05-122026-05-12
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 12, 2026
MaxCyte, Inc.
(Exact name of registrant as specified in its charter)
Delaware
001-40674
52-2210438
(State or other jurisdiction of
incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
9713 Key West Avenue, Suite 400
Rockville, Maryland 20850
(Address of principal executive offices, including zip code)
(301) 944-1700
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Common Stock, $0.01 par value
MXCT
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial account standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On May 12, 2026, MaxCyte, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended March 31, 2026. A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Current Report on Form 8-K, including Exhibit 99.1 hereto, is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section. The information contained herein and in the accompanying exhibit is not incorporated by reference in any filing of the Company under the Securities Act of 1933, as amended, (the “Securities Act”) or the Exchange Act, whether made before or after the date hereof and irrespective of any general incorporation language in any filings, except as expressly set forth by specific reference in such a filing.
Item 7.01. Regulation FD Disclosure.
On May 12, 2026, the Company posted an updated corporate presentation, which the Company may use from time to time in communications or conferences, to its website at https://investors.maxcyte.com. A copy of the corporate presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Current Report on Form 8-K, including Exhibit 99.2 hereto, is furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section. The information contained herein and in the accompanying exhibit is not incorporated by reference in any filing of the Company under the Securities Act, or the Exchange Act, whether made before or after the date hereof and irrespective of any general incorporation language in any filings, except as expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number
Exhibit Description
99.1
Press Release, dated May 12, 2026
99.2
Corporate Presentation, dated May 2026
104
Cover Page Interactive Data (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MaxCyte, Inc.
Dated: May 12, 2026
By:
/s/ Parmeet Ahuja
Parmeet Ahuja
Chief Financial Officer
EX-99.1
EX-99.1
Filename: mxct-20260512xex99d1.htm · Sequence: 2
Exhibit 99.1
MaxCyte Reports First Quarter 2026 Financial Results and Reiterates Full Year 2026 Guidance
First quarter 2026 total revenue of $9.7 million, including $6.2 million of core revenue and $3.4 million of SPL Program-related revenue
Reiterates 2026 revenue guidance of $30-32 million; with Core revenue of $25-27 million and Strategic Platform License (SPL) Program-related of $5 million
MaxCyte’s Board authorized a $10 million share repurchase program
ROCKVILLE, MD, May 12, 2026 — MaxCyte, Inc., (NASDAQ: MXCT), a leading, cell-engineering focused company providing enabling platform technologies to advance the discovery, development and commercialization of next-generation cell therapeutics, today announced its first quarter ended March 31, 2026 financial results and reiterated its 2026 guidance.
“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.”
First Quarter Financial Results
·
Total revenue of $9.7 million in the first quarter of 2026, a decrease of 7% over the first quarter of 2025.
o
Core business revenue of $6.2 million in the first quarter of 2026, a decrease of 25% over the first quarter of 2025.
o
Strategic Platform License (SPL) Program-related revenue was $3.4 million for the first
o
quarter of 2026, compared to $2.1 million in the first quarter of 2025.
·
Gross profit for the first quarter of 2026 was $8.1 million (84% gross margin), compared to $8.9 million (86% gross margin) in the first quarter of 2025.
·
Non-GAAP adjusted gross margin was 78% when excluding SPL Program-related revenue and reserves for excess and obsolete inventory, compared to non-GAAP adjusted gross margin of 83% in the first quarter of 2025.
·
Operating expenses for the first quarter of 2026 were $14.3 million, compared to operating expenses of $21.2 million in the first quarter of 2025.
1
·
First quarter 2026 net loss was $4.8 million compared to net loss of $10.3 million for the same period in 2025.
·
EBITDA, a non-GAAP measure, was a loss of $5.1 million for the first quarter of 2026, compared to a loss of $11.2 million for the first quarter of 2025; stock-based compensation expense was $1.1 million in the first quarter of 2026 compared to $3.0 million in the first quarter of 2025.
·
Total SPL agreements was 29 as of March 31, 2026, which includes 12 programs currently in the clinic (defined as programs with at least a cleared IND or equivalent) and one commercial program.
·
Total cash, cash equivalents and investments were $147.7 million as of March 31, 2026.
Full Year 2026 Guidance
·
Full year revenue expected to be $30 million to $32 million consisting of:
o
Core revenue of $25 million to $27 million.
o
SPL Program-related revenue of approximately $5 million for the year; SPL Program-related revenue guidance includes both revenue of approximately $3 million from milestone payments and approximately $2 million from commercial royalties.
·
MaxCyte expects to end 2026 with at least $136 million in total cash, cash equivalents and investments, which does not include capital to be used for the share repurchase program.
The following tables provide details regarding the sources of our revenue for the periods presented.
Three Months Ended
March 31
(Unaudited)
2026
2025
%
(in thousands, except percentages)
Instruments
$
1,346
$
1,444
(7%)
PAs and consumables
2,293
3,871
(41%)
Licenses
2,097
2,531
(17%)
Assay service
188
142
32
%
Other
294
255
15
%
Total Core Revenue
$
6,218
$
8,243
(25%)
Milestones
3,004
2,004
50
%
Royalties
429
143
200
%
Total Revenue
$
9,651
$
10,390
(7%)
Share Repurchase Program
MaxCyte’s board of directors has authorized a share repurchase program for up to $10 million of the Company’s outstanding common stock within a one-year period, unless extended or shortened by the board of directors. Any repurchases would be made in the open market and/or in privately negotiated transactions, and may be made from time to time or in one or more larger repurchases. Repurchases may be made pursuant to one or more trading plans adopted in accordance with Rule 10b5-1, through discretionary open market purchases during periods when the Company's trading window is open, and/or in privately negotiated transactions. Open market purchases are expected to be made in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended.
The Company expects to utilize a majority of the approved $10 million in the short to medium term, however, the amount and timing of any repurchases made under the repurchase program will depend on a variety of factors, including available liquidity, cash flow and market conditions. The program does not obligate the Company to acquire any particular amount of common stock and the program may be modified or suspended at any time at the Company’s discretion.
2
Webcast and Conference Call Details
MaxCyte will host a conference call today, May 12, 2026, 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
At MaxCyte®, we are committed to building better cells together. As a leading cell-engineering company, we are driving the discovery, development and commercialization of next-generation cell therapies. Our best-in-class Flow Electroporation® technology and SeQure™ gene editing risk assessment services enable precise, efficient and scalable cell engineering. Supported by expert scientific, technical and regulatory guidance, our platform empowers researchers from around the world to engineer diverse cell types and payloads, accelerating the development of safe and effective treatments for human health. For more than 25 years, we've been advancing cell engineering, shaping the future of medicine. Learn more at maxcyte.com and follow us on X and LinkedIn.
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 these non-GAAP measures 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.
This press release also contains Non-GAAP Gross Margin, which we define as Gross Margin when excluding SPL program related revenue and reserves for excess and obsolete inventory. The Company believes that the use of Non-GAAP Gross Margin provides an additional tool to investors because it provides consistency and comparability with past financial performance, as Non-GAAP Gross Margin excludes non-core revenues and inventory reserves, which can vary significantly between periods and thus affect comparability.
Management does not consider these Non-GAAP financial measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these Non-GAAP financial measures is that they exclude significant revenues and expenses that are required by GAAP to be recorded in the Company’s financial statements. In order to compensate for these limitations, management presents these Non-GAAP financial measures along 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. Reconciliation tables of net loss, the most comparable GAAP financial measure, to EBITDA, and Gross Margin, the most comparable GAAP financial measure, to Non-GAAP Gross Margin, are 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.
3
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. These statements about us and our industry involve substantial known and unknown risks, uncertainties, and assumptions, including those described in Item 1A under the heading “Risk Factors” and elsewhere in our report on Form 10-K, that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations or financial condition, business strategy and plans, customer expectations and objectives of management for future operations, are forward-looking statements. Forward-looking statements include, but are not limited to, statements about possible or future results of operations or financial position. In some cases, you can identify forward-looking statements because they contain words such as "may," “might,” "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," “seek,” "predict," “future,” "project," "potential," "continue," “contemplate,” "target,” the negative of these words and similar words or expressions. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements. The forward-looking statements contained in this press release, include, without limitation, our full year 2026 revenue, gross margin and cash guidance, statements concerning the following: our expected future growth and success of our business model; the size and growth potential of the markets for our products, and our ability to serve those markets, increase our market share, and achieve and maintain industry leadership; our ability to expand our customer base and enter into additional SPL partnerships; expectations regarding customer-level activities (including the expected advancement of our SPL partners' clinical programs, including Phase 3 trial initiations); the timing and amount of any share repurchases under our share repurchase program; our financial performance and capital requirements; the adequacy of our cash resources and availability of financing on commercially reasonable terms; our expectations regarding 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 our use of available capital resources.
These and other risks and uncertainties are described in greater detail in Item 1A , entitled "Risk Factors,” in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission, 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 through the Investor Menu, Financials section, under “SEC Filings” on the Investors page of our website at http://investors.maxcyte.com. Any forward-looking statements in this press release are based on our current beliefs and opinions on the relevant subject based on information available to us as of the date of such press release, and you should not rely on forward-looking statements as predictions of future events. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
MaxCyte Contacts:
US IR Adviser
Gilmartin Group
David Deuchler, CFA
ir@maxcyte.com
Media Contact
Oak Street Communications
Kristen White
kristen@oakstreetcommunications.com
415.608.6060
4
MaxCyte, Inc.
Unaudited Consolidated Balance Sheets
(in thousands, except share and per share amounts)
March 31, 2026
December 31, 2025
Assets
Current assets:
Cash and cash equivalents
$
14,557
$
20,065
Short-term investments, at amortized cost
92,297
82,979
Accounts receivable, net
4,246
3,503
Inventory
7,631
7,547
Prepaid expenses and other current assets
4,206
4,275
Total current assets
122,937
118,369
Investments, non-current, at amortized cost
40,811
52,570
Property and equipment, net
16,637
17,531
Right-of-use asset - operating leases
10,699
10,920
Intangible assets, net
783
650
Other assets
2,606
2,467
Total assets
$
194,473
$
202,507
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable
$
1,196
$
1,401
Accrued expenses and other
4,371
7,812
Operating lease liability, current
1,374
1,456
Deferred revenue, current portion
3,271
3,598
Total current liabilities
10,212
14,267
Operating lease liability, net of current portion
16,113
16,487
Other liabilities
262
263
Total liabilities
26,587
31,017
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.01 par value; 5,000,000 shares authorized and no shares issued and outstanding at March 31, 2026 and December 31, 2025
—
—
Common stock, $0.01 par value; 400,000,000 shares authorized, 107,121,672 and 106,789,618 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively
1,071
1,068
Additional paid-in capital
433,048
431,905
Accumulated deficit
(266,233)
(261,483)
Total stockholders’ equity
167,886
171,490
Total liabilities and stockholders’ equity
$
194,473
$
202,507
5
MaxCyte, Inc.
Unaudited Consolidated Statements of Operations
(in thousands, except share and per share amounts)
Three Months Ended March 31,
2026
2025
Revenue
$
9,651
$
10,390
Cost of goods sold
1,569
1,497
Gross profit
8,082
8,893
Operating expenses:
Research and development
3,857
5,903
Sales and marketing
3,428
5,698
General and administrative
5,966
8,526
Depreciation and amortization
1,016
1,061
Total operating expenses
14,267
21,188
Operating loss
(6,185)
(12,295)
Other income:
Interest income
1,435
2,034
Total other income
1,435
2,304
Net loss
$
(4,750)
$
(10,261)
Basic and diluted net loss per share
$
(0.04)
$
(0.10)
Weighted average shares outstanding, basic and diluted
106,875,087
105,950,480
6
MaxCyte, Inc.
Unaudited Consolidated Statements of Cash Flows
(in thousands)
Three months ended March 31,
2026
2025
Cash flows from operating activities:
Net loss
$
(4,750)
$
(10,261)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization
1,047
1,096
Lease right-of-use asset amortization
221
181
Net book value of consigned equipment sold
14
—
Loss on disposal of property and equipment
—
47
Stock-based compensation
1,141
3,039
Change in excess/obsolete inventory reserve
197
65
Amortization of discounts on investments
(437)
(884)
Changes in operating assets and liabilities, net of effects of acquisition:
Accounts receivable
(743)
(839)
Inventory
(380)
531
Prepaid expense and other current assets
69
65
Other assets
(127)
(254)
Accounts payable, accrued expenses and other
(3,637)
(5,589)
Operating lease liability
(456)
(278)
Deferred revenue
(327)
(1,326)
Other liabilities
(1)
(4)
Net cash used in operating activities
(8,169)
(14,411)
Cash flows from investing activities:
Purchases of investments
(25,122)
(34,645)
Maturities of investments
28,000
46,600
Purchases of property and equipment
(72)
(653)
Acquisition of intangible assets
(150)
—
Acquisition of business, net of cash acquired of $541
—
(1,773)
Net cash provided by investing activities
2,656
9,529
Cash flows from financing activities:
Proceeds from exercise of stock options
5
383
Net cash provided by financing activities
5
383
Net decrease in cash and cash equivalents
(5,508)
(4,499)
Cash and cash equivalents, beginning of period
20,065
27,884
Cash and cash equivalents, end of period
$
14,557
$
23,385
7
Unaudited Reconciliation of Net Loss to EBITDA
(in thousands)
(Unaudited)
Three Months Ended
March 31,
2026
2025
(in thousands)
Net loss
$
(4,750)
$
(10,261)
Depreciation and amortization expense
1,047
1,096
Interest income
(1,435)
(2,034)
Income taxes
—
—
EBITDA
$
(5,138)
$
(11,199)
8
Unaudited Reconciliation of Gross Margin to Non-GAAP Adjusted gross margin
(in thousands, except for percentages)
(Unaudited)
Three months ended March 31, 2026
Three months ended March 31, 2025
GAAP
Adjustments
Non-GAAP
GAAP
Adjustments
Non-GAAP
Revenue
$
9,651
$
(3,433)
$
6,218
$
10,390
$
(2,147)
$
8,243
Cost of Goods Sold
1,569
(197)
1,372
1,497
(65)
1,432
Gross Margin
$
8,082
$
(3,236)
$
4,846
$
8,893
$
(2,082)
$
6,811
Gross Margin %
84
%
78
%
86
%
83
%
(1)
Adjustments include the exclusion of SPL program related revenue from Revenue, and the exclusion of reserves for excess and obsolete inventory from Cost of Goods Sold.
9
EX-99.2
EX-99.2
Filename: mxct-20260512xex99d2.htm · Sequence: 3
Exhibit 99.2
are trademarks of MaxCyte, Inc. in the U.S.A.
Driving the Next Generation of
Cell-Based Therapies
MaxCyte Corporate Presentation
NASDAQ: MXCT
May 2026
© 2026 MaxCyte, Inc. All Rights Reserved
Forward Looking Statement Disclaimer
2 © 2026 MaxCyte, Inc. All Rights Reserved
Certain statements in this document (this “Presentation”) are, or may be deemed to be, 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 expected potential future revenue. These statements about us and our industry involve substantial known and unknown risk, uncertainties and assumptions, that may cause our actual
results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. All statements other than statements of historical facts
contained in this Presentation are forward-looking statements. 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
Presentation 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 Presentation, including, without limitation, statements regarding the Company's future growth, results of operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. 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, 2025, 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, without charge, on the Securities and Exchange Commission website and through the Investor Menu, Financials section under "SEC filings" on the Investors
page of our website at http://investors.maxcyte.com.
No statement in this Presentation is intended to be, or intended to be construed as, a profit forecast or profit estimate or to be interpreted to mean that earnings per Company share for the current or future financial years will
necessarily match or exceed the historical earnings per Company share. As a result, no undue reliance should be placed on such statements.
Any forward-looking statements represent our views only as of the date of this Presentation 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, except as required by applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such
forward-looking statements.
This Presentation contains Adjusted EBITDA, which is a non-GAAP measure defined as earnings before interest, taxes, depreciation, amortization, goodwill impairment and one-time restructuring charges. MaxCyte believes that
Adjusted EBITDA provides useful information to management and investors relating to its results of operations. The company’s management uses these non-GAAP measures 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 Adjusted 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.
This Presentation also contains Non-GAAP Gross Margin, which we define as Gross Margin when excluding SPL program related revenue and reserves for excess and obsolete inventory. The Company believes that the use of Non-GAAP Gross Margin provides an additional tool to investors because it provides consistency and comparability with past financial performance, as Non-GAAP Gross Margin excludes non-core revenues and inventory reserves, which
can vary significantly between periods and thus affect comparability. Management does not consider these Non-GAAP financial measures in isolation or as an alternative to financial measures determined in accordance with GAAP.
The principal limitation of these Non-GAAP financial measures is that they exclude significant revenues and expenses that are required by GAAP to be recorded in the Company’s financial statements. 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 Gross Margin, the most comparable GAAP financial measure to
Non-GAAP Gross Margin, is included in the appendix of this Presentation. The Company urges investors to review the reconciliation and not to rely on any single financial measure to evaluate its business.
MaxCyte at a Glance
3 © 2026 MaxCyte, Inc. All Rights Reserved
Our Mission
We power the future of cell and gene
therapy with innovative, scalable cell
engineering solutions that enable our
customers to deliver advanced
therapies to patients
Base-editing (CRISPR),
CRISPR, ARCUS, RNA-Based
Engineering, TALENS, Zinc
Finger Nucleases (ZFNs)
13
Clinical and Commercial
Therapies Supported
2025
Revenue
• Genetic diseases, solid
tumors, infectious disease,
Hematological
• Malignancies, autoimmune
disease
29
SPL Customers
$148M
Cash & Cash Equivalents1
$33.0M
2025 Non-GAAP
Adjusted Gross Margins 81% 2
1. As of March 31, 2026
2. Excluding SPL Program-related revenue and reserves for
excess and obsolete inventory. See appendix for reconciliation
to GAAP gross margins
Cell and Gene Therapy Development
4 © 2026 MaxCyte, Inc. All Rights Reserved
Cell Engineering
(Electroporation)
Cell Proliferation
In-Vivo Ex-Vivo
Viral/Non-Viral
Vector for delivery
to Specific Organ
Tissue
The engineering of cells to develop therapies addressing a host of human diseases with unmet medical needs
Cells Collected
from Universal
Donor or Patient
Personalized Therapy
Cryopreservation
Patient
Cell & Gene Therapy is one of the
fastest growing and most
promising treatment modalities
~2,130 active clinical trials focused on
as of Dec 2025*
Aggregate of $11.1B raised in 2025*
Genetic diseases, solid tumors,
infectious disease, hematological, and
autoimmune
48 approved cell and gene therapies**
*Alliance for Regenerative Medicine (“ARM”) as of Dec 2025
**FDA approved Cellular and Gene Therapy Products
Addressing the Challenges of Cell & Gene Therapy
Development
5 © 2026 MaxCyte, Inc. All Rights Reserved
Next-generation cell therapy programs have become increasingly complex requiring multiple edits
Regulatory risk increases with new unknowns (donor cells, next-gen approaches, new indications)
Vein-to-vein manufacturing times are high; optimizations needed to deliver medicines to patients faster
Lack of industry standard for cell engineering process development causes costly and inconsistent
manufacturing runs
Many steps in the cell engineering process with lack of support or safety assessments before
regulatory review
Large Opportunity in Ex-Vivo Cell and Gene Therapy
6 © 2026 MaxCyte, Inc. All Rights Reserved
MaxCyte # of Potential SPLs
Research &
Discovery
Pre-Clinical
Clinical
Commercial
124 Programs
82 Non-Viral Programs (66%)
383 Programs
193 Non-Viral Programs (50%)
249 Programs
84 Non-Viral Programs (37%)
10 Programs
1 Non-Viral Program (10%)
Ex-Vivo Cell & Gene Therapy TAM
201 Ex-Vivo Cell & Gene
Therapy Biotechs
83 Non-Viral
Ex-Vivo Cell & Gene
Therapy Biotechs
Gene Editing Tools:
• ARCUS
• Base-editing (CRISPR)
• Prime-editing (CRISPR)
• CRISPR
• RNA-Based Engineering
• Transposon
• TALENS
• Zinc Finger Nucleases
(ZFNs)
Source: MaxCyte Company Estimates for
U.S. and EU Markets
Programs with undisclosed vector are
assumed to be Viral and Non-Viral at the
market concentration ratio of 53% to 47%,
respectively
The Expert Platform Enabling Non-Viral Cell Engineering
7 © 2026 MaxCyte, Inc. All Rights Reserved
Full scale
RUO
Small/mid-scale
RUO
Large Scale
RUO/cGMP
Full scale
RUO/cGMP
75 thousand to
700 million cells
75 thousand to
20 billion cells
5 billion to
200 billion cells
75 thousand to
20 billion cells
High Performance
• >90% transfection efficiencies
(depending on cell type and
molecule)
• >90% cell viabilities
• Computer-controlled system for
reproducible results
Flexibility
• Single, fully-defined, animal
component-free electroporation
buffer for all cell types
• Pre-loaded library of validated,
cell-specific protocols
Scalability – Ability to Transfect
• 75,000 to 7 million cells in seconds
• Up to 20 billion cells in less than 30
minutes
• And up to 200 billion cells in less than 30
minutes with the high scale VLx
High Quality
• Sterile, single-use processing
assemblies (PAs)
• Closed, cGMP-compliant, ISO-certified, and CE marked instruments
• Supported by US FDA Master File and
global equivalents
Key Applications: Ex-Vivo Engineered Cell Therapies
Customer Base: Leading global cell therapy developers
and academic translational centers
Additional
Electroporation
Applications in
Drug Discovery
Viral Vector Production – Transfect
adherent or suspension cells to produce
a variety of viral vectors.
Cell Based Assays – Produce
assay-ready cells faster with
scalable electroporation.
Gene Editing – Navigate the
complexities of genome engineering
with highly efficient delivery.
Antibody & Protein Production – Accelerate
biotherapeutic development with transient
expression for gram-scale protein production.
Vaccine Development – Innovate vaccine
research with our adaptable platform for
production of recombinant proteins, virus-like
particles and more.
Research & discovery
96-well platform
RUO
100 thousand to
10 million cells
Launched Q1-26
Instrument purchase &
research scale
GMP: 25µL – 100mL on GTx
21 CFR Part 11 Compliant
MaxCyte’s Solutions Span Cell & Gene Engineering
8 © 2026 MaxCyte, Inc. All Rights Reserved
Industry-leading, scalable Expert Electroporation Platform and best-in-class customer support
Commercial
Strategic platform license for clinical &
commercial manufacturing
IND-enabling
lease
Discovery Process Development IND-enabling activities IND-enabling study / Clinical
IND filing BLA filing
Instrument
purchase & full
scale with flow EP
RUO RUO GMP GMP
Screening Validation Lead ID Concept Discovery Optimization Verification
RUO: 25µL – 3.5mL on DTx
RUO: 25µL – 3.5mL on ATx
RUO: 25µL – 100mL on STx
Strategic platform license for large allogeneic manufacturing
GMP: 25µL – 1L on VLx
21 CFR Part 11 Compliant
GMP
MaxCyte’s Flow Electroporation® technology integrates
efficiently within a closed cGMP cell therapy workflow
9 © 2026 MaxCyte, Inc. All Rights Reserved
Cell Isolation & Expansion CCBE Electroporation Cell Expansion Cryopreservation
Add loading agent
(mRNA, pDNA, RNP…)
and Electroporate
Process cells on
different platforms
Wash media and exchange
from different platforms to
MaxCyte Buffer
Infusion and
cryopreservation
Seamlessly scale
from initial cell
therapy concept to
commercialization
• Leverages the reversible permeability of the cell membrane in response to an electric charge
• Universally delivers molecules, such as nucleic acids, gene-editing tools and proteins, into cells
• Agnostic to cell type, approach (auto/allo) and/or gene manipulation technology
• Supported by a robust intellectual property portfolio (200+ patents granted in US and foreign jurisdictions
and 100+ patents pending worldwide)
• Enables customers to use a single platform from concept through to the clinic in a GMP environment
• >100 protocols optimized through 25 years of research by experts in biophysics, biochemistry and cell biology
Development of Ex Vivo Cell Therapies Requires Highly
Specialized Engineering Tools and Assays
10 © 2026 MaxCyte, Inc. All Rights Reserved
Lentivirus
Adeno-associated
virus
Lipid
nanoparticles
Electroporation
Engineering
Tools
Delivery
Technologies
CRISPR/Cas
gene editing
Transposase
integration
mRNA transient
expression
Stable DNA
transduction
Engineered
Cell Therapy Starting Cell
Material
Post-engineering analyses:
• On-target editing confirmation
• Off-target editing risk assessment
• Cell functional assays
• Cell phenotype characterization
Engineering Strategies
Pre-engineering analyses:
• Cell health determination
• Cell purity characterization
• Cell identity confirmation
Single alteration vs. multiple alterations
Sequential engineering vs. simultaneous engineering
Integrating vs. non-integrating approaches
Developing engineering ex vivo cell therapies is highly complex
MaxCyte’s Solutions are Uniquely Positioned
to Support Cell Therapy Development
11 © 2026 MaxCyte, Inc. All Rights Reserved
Flow Electroporation technology facilitates multiplex and sequential engineering without the
payload and capacity limitations of viral approaches
23+1 Field Application Scientists support our customers in their development process
Expert platform provides industry leading transfection efficiency & cell viability at high scale
in 30 minutes or less, enabling manufacturers to quickly scale up production
Regulatory
Support
Superior
Results
Complex
Engineering
Optimization
Scientific
Support
FDA Master File can be referenced in regulatory filings to accelerate and de-risk regulatory
review
MaxCyte technology allows plug and play processes with rapid optimization delivering reproducible
outcomes and the ability to seamlessly scale up from pre-IND to the clinic and commercialization
1. As of December 31, 2025
MaxCyte’s Platform Generates Recurring Revenue
in Pre-Clinical, Clinical, and Commercial
12 © 2026 MaxCyte, Inc. All Rights Reserved
Razor/Razor Blade Economics
Full scale
RUO
Preclinical and Academic Revenue Model
Instrument Sale
Clinical and Commercial Revenue Model
Annual License Fee
Razor/Razor Blade Economics
+ Share of Therapeutic Economics
Clinical Milestones and Commercial
Royalties/Sales Based Payments
Single-use
Disposables (PAs)
Full scale
GMP
Single-use
Disposables (PAs)
+
+ +
MaxCyte captures unique economic participation in customers success as a result of
its proven technology and differentiated technical, scientific, and regulatory support
Lyell
Immunopharma
MaxCyte has an Active Portfolio of SPLs
13 © 2026 MaxCyte, Inc. All Rights Reserved
29 SPL Partners1
Sana
Biotechnology
Beam
Therapeutics
cGMP Compatible
Platform
FDA Master File and
Technical Files
Experienced FAS and
sales support
Leading know-how and
engineering process
improvement
12 Active Clinical Programs Represents ~$110M of precommercial milestone potential
>$30M of milestone payments to date through SPL model
`
Updated as of May 2026
1. Catamaran Bio and Walking Fish Therapeutics have ceased
operations, resulting in 29 SPLs
2. Cleared INDs or Equivalent
3. Editas Medicine, Myeloid, and Vor Biopharma have announced
their exit of the ex-vivo space
8 SPL partners in preclinical
18 preclinical programs
11 SPL partners in clinical
12 clinical programs2
10 SPL partners in research3
1 Commercial Program
Typical MaxCyte SPL Economics
14 © 2026 MaxCyte, Inc. All Rights Reserved
Early Clinical: (Phase 1/2) Years 1-3
• Mid 6-figure up to low 7-figure milestones
• 1-3+ instruments + disposables
Mid-late Clinical: (Phase 2/3) Years 3-5+
• 7-figure milestone
• Increasing instrument and disposables usage
Approval: Year 5+
• Multiple 7-figure milestones based on
geographic region (e.g. US and Europe)
Commercial Phase
• Royalty and/or sales-based payments
• Annual instrument fees and
disposable sales
Instruments and
Processing Assemblies
Milestones
Royalties & Sales-Based
Payments
Pre-commercial milestones
in early clinical, mid-late
clinical and product approval
Significant development
milestones and high-value
participation in future
commercial success of partners
Recurring revenues from lease
of instruments and sales of
single-use disposables
Royalites and Sales-based
payments upon partner’s
product commercialization
Differentiated Commercial Relationships
Expand Sales Funnel
15 © 2026 MaxCyte, Inc. All Rights Reserved
Highly Technical Employees Field Application Scientists (FAS) and Commercial Team
Unparalleled
scientific support
to customers
Customer relationships
at early stages of cell
& gene therapy
development
Signed
SPL
*Updated as of December 31, 2025
MaxCyte has a team of
23+ highly trained FAS*
Global teams providing
scientific, technical, and
regulatory expertise FAS works with prospective customers to optimize and
implement cell engineering methods, processes, and applications
MaxCyte grows its sales funnel by leading with scientific, technical, and regulatory expertise
50 Advanced Degrees
and 23 PhDs*
Support academic and translational
institutions, biotech companies,
and pharma companies in
discovery and pre-clinical
16 © 2026 MaxCyte, Inc. All Rights Reserved
As of March 2026/ Includes with SPL Programs with multiple Clinical Trials for different indications
SPL Portfolio: 14 Active Clinical Trials
Partner Program Phase Cell Approach Cell Type Disease Area
Vertex Pharmaceuticals CASGEVY Commercial Autologous HSCs Beta-thalassemia
Vertex Pharmaceuticals CASGEVY Commercial Autologous HSCs Sickle cell disease
Wugen WU-CART-007 Pivotal Allogeneic T-Cells T Cell Lymphoma
Undisclosed Partner A - Pivotal Undisclosed Undisclosed Undisclosed
CRISPR Therapeutics CTX112 1/2 Allogeneic T-Cells Hematological Malignancies
CRISPR Therapeutics CTX112 1/2 Allogeneic T-Cells Autoimmune Disease
Imugene Azer-cel 1/2 Allogeneic T-Cells Hematological Malignancies
Kamau Therapeutics Nula-Cel 1/2 Autologous HSCs Sickle Cell Disease
KSQ Therapeutics KSQ-001EX 1/2 Autologous TILs Advanced Solid Tumors
KSQ Therapeutics KSQ-004EX 1/2 Autologous TILs Advanced Solid Tumors
TG Therapeutics Azer-cel 1 Allogeneic T-Cells Multiple Sclerosis
Vittoria Biotherapeutics VIPER-101 1 Autologous T-Cells T-Cell Lymphoma
Undisclosed Partner B - 1 Undisclosed Undisclosed Undisclosed
Undisclosed Partner C - 1 Undisclosed Undisclosed Undisclosed
SPL Case Study: CASGEVY®
17 © 2026 MaxCyte, Inc. All Rights Reserved
CASGEVY® for Sickle Cell Disease (SCD) and for Transfusion-Dependent Beta-Thalassemia (TDT) (2023 and 2024)
2013 – MaxCyte supports
Inception Genomics
(Changed name to CRISPR Therapeutics AG in 2014)
• Support for programs in research
2018 – Vertex/CRISPR
achieves IND Milestone
Sept 28, 2022 – MaxCyte Signs
SPL with Vertex to advance Exa-cel
• Vertex obtains non-exclusive clinical and commercial
rights to use MaxCyte’s Expert platform
Dec 8, 2023 – FDA
Approves CASGEVY®
(for treatment of SCD)
2021 – Vertex initiated
Pivotal Trial for CASGEVY®
Jan 16, 2024 – FDA Approves
CASGEVY®
(for treatment of TDT)
Feb 12, 2024 – European
Commission Approves
CASGEVY®
(for treatment of SCD and TDT)
Nov 15, 2023 – UK MHRA
Approves CASGEVY®
(for treatment of SCD and TDT)
CASGEVY®
Jan 9, 2024 – SFDA
Approves CASGEVY®
(for treatment of SCD and TDT)
MaxCyte Supports the Future of Cell & Gene Therapies
18 © 2026 MaxCyte, Inc. All Rights Reserved
WAVE 1
1 Approved Product
WAVE 2
5 Product Candidates
WAVE 3
7 Product Candidates
WAVE 4
18 Product Candidates
Vertex/ CRISPR
CASGEVY®
Approved 2023
US FDA, European
Commission & Additional
Regulatory Bodies
Launch Potential:
2027 – 2028
5 products set to
enter pivotal studies
in next 6 to 18
months
Launch Potential:
2028 +
7 products currently
in Phase 1
Launch Potential:
2032 +
18 products in
preclinical development
Source: Evaluate Pharma, Broker Estimates and MaxCyte Internal Estimates as of March 2026
MaxCyte’s supports a diverse portfolio of product candidates with significant
development milestone and commercial royalty potential
MaxCyte’s Roadmap to Becoming a Premier
Cell Engineering Solutions Providers
19 © 2026 MaxCyte, Inc. All Rights Reserved
Electroporation
technology provider
Comprehensive cell
engineering solutions
Gene Editing Tools
Over $1.25b market
• Key markets addressed: in vivo
and ex vivo cell therapy
• Other key markets addressed:
Agbio, bioprocessing, research
and discovery tools
Genetic Payloads
(i.e. gene insertion/expression)
Over $6.0b market
• Key markets addressed: in vivo and
ex vivo cell therapy
• Other key markets addressed:
vaccines, bioprocessing, research
and discovery tools
Other Biological Delivery
Over $4.0b market
• Key markets addressed: in vivo
and ex vivo cell therapy
• Other key markets addressed:
vaccines, bioprocessing, research
and discovery tools
Cell engineering
risk assessment
Organic and Inorganic Investment
• Product Development
• Acquisitions
• Licensing Deals
• Distribution Deals
Source: Internal analysis
Editing Assessment Services Strategy
20 © 2026 MaxCyte, Inc. All Rights Reserved
MaxCyte provides ex-vivo and in-vivo developers with best-in-class on-target and off-target risk assessment services
Use Cases: candidate guide
screening, guide RNA selection
Use Cases: Off-target risk assessment,
guide RNA selection, IND filings
Highly sensitive
Universal for all
editors
Population-scale variant
assessment
Multiple orthogonal
methods
Variant effect
prediction
GLP-grade
Guide Screening
Rapid turnaround
time
Comprehensive
report
Minimize risk from
variation at on-target locus
Guide RNA Selection
Low-cost per guide
Evaluate multiple
guides
Reduce program
risk through early
profiling and
selection
Use Cases: Cellular Editing
Assessment, IND filings
Sensitive detection
methods
Relevant cell types
On- and off-target
analysis
Biologic impact
assessment
GLP-grade
Increases program likelihood of success
Decreases risk of unexpected costs or program delays
Aligns with most recent FDA guidance for gene edited therapies
Quicker time to clinic and safer therapies
Discovery Pre-Clinical Development and IND-Enabling Studies
BENEFITS
21 © 2026 MaxCyte, Inc. All Rights Reserved
Financial Summary
$1.4 $1.3
$3.9
$2.3
$2.5
$2.1
$0.1
$0.2
$0.3
$0.3
1Q25 1Q26
Core Revenue:
(25%) Decline
$7.1 $6.8
$14.0 $11.9
$10.3 $8.9
$1.1 $1.2
$6.1
$3.4
2024 2025
Core Revenue:
(9%) Decline
1. Excluding SPL Program-related revenue and reserves
for excess and obsolete inventory. See appendix for
reconciliation to GAAP gross margins
Financial Highlights (As of March 31, 2026)
78%
Non-GAAP adjusted Gross Margin1
44%
Core revenue generated from SPL
partners as a % of core revenue
877
Total Installed Base of Instruments
(sold or licensed)
$148 million
Total cash, cash equivalents,
and investments
Total Annual Revenue (millions)
Core Revenue
Total Quarterly Revenue (millions)
Core Revenue
$38.6
$33.0
$9.7 $10.4
$2.1
$0.8
$3.4
Financial Summary
22 © 2026 MaxCyte, Inc. All Rights Reserved
In millions, except percentages 2024 2025 YTD 2026
Total Core Revenue $32.5 $29.6 $6.2
y/y growth 9% (9%) (25%)
SPL-Program Related Revenue $6.1 $3.4 $3.4
y/y growth (47%) (44%) 60%
Total Revenue $38.6 $33.0 $9.7
y/y growth (6%) (15%) (7%)
Gross Profit $31.5 $26.8 $8.1
Gross Margin % 82% 81% 84%
Non-GAAP Adjusted Gross Margin %1 84% 81% 78%
Operating Expenses $82.7 $78.7 $14.3
Net Income (Loss) ($41.1) ($44.6) ($4.8)
EBITDA2 ($47.6) ($46.9) ($5.1)
Full Year Ended December 31,
1. Excluding SPL Program-related revenue and reserves for excess and obsolete inventory. See appendix for reconciliation to GAAP gross margins
2. See appendix for Unaudited Reconciliation of Net Loss to EBITDA
3 months
Disciplined Management is Committed to Growth Investment
and Efficient Spending
23 © 2026 MaxCyte, Inc. All Rights Reserved
MaxCyte is well
capitalized and funded
to achieve profitability
with existing capital
Alignment of spending and
resources to growth areas
Organic investment
in new products and
product enhancements
Reduction of annual cash
burn excluding one-time
and non-cash items
Realize operating leverage
on existing cost base
Inorganic investment to
solve critical pain points in
Cell & Gene Therapy
Healthy balance sheet
~$148M of cash, cash
equivalents, and investments1
1. As of March 31, 2026
All other trademarks are the property of their respective owners.
©2025 MaxCyte, Inc. All rights reserved. For a complete
list of MaxCyte trademarks in the United States and
other countries, please visit maxcyte.com/trademarks.
Thank you!
Any questions?
ir@maxcyte.com
24 © 2026 MaxCyte, Inc. All Rights Reserved
Appendix – Historical Core Business Disclosure
25 © 2026 MaxCyte, Inc. All Rights Reserved
1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 4Q'23 1Q'24 2Q’24 3Q’24 4Q’24 1Q’25 2Q’25 3Q’25 4Q’25 1Q’26
(in $ thousands)
Instrument 2,728 2,697 2,575 3,705 2,189 2,126 1,672 2,330 1,928 1,762 1,764 1,629 1,444 2,141 1,376 1,841 1,346
PAs 3,840 4,114 4,350 3,721 2,600 3,293 2,226 2,163 3,432 2,974 3,432 4,169 3,871 3,128 2,577 2,312 2,293
Licenses 2,726 2,622 2,736 2,813 2,809 2,667 2,444 2,406 2,604 2,610 2,528 2,554 2,531 2,619 1,803 1,993 2,097
Assay service - - - - - - - - - - - - 142 51 248 335 188
Other 290 171 227 331 174 203 258 263 224 229 416 258 255 259 402 274 294
Total Core Revenue 9,583 9,604 9,889 10,570 7,772 8,289 6,600 7,162 8,188 7,575 8,140 8,610 8,243 8,198 6,406 6,755 6,218
Installed base of instruments (sold or leased) 521 546 575 616 633 654 664 683 708 723 739 760 787 814 830 857 877
Core Revenue Generated by SPL Clients as a %
of Core Revenue 47% 47% 40% 34% 52% 49% 45% 45% 53% 51% 53% 55% 57% 42% 53% 36% 44%
Appendix – Unaudited Reconciliation of Gross Margin
to Non-GAAP Adjusted gross margin
26 © 2026 MaxCyte, Inc. All Rights Reserved
1. Adjustments include the exclusion of SPL program related revenue from Revenue, and the exclusion of reserves for excess and obsolete inventory from Cost of Goods Sold.
Unaudited Reconciliation of Gross Margin to Non-GAAP Adjusted gross margin
(in thousands, except for percentages)
(Unaudited)
Three months ended March 31, 2026 Three months ended March 31, 2025
GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP
Revenue $ 9,651 $ (3,433) $ 6,218 $ 10,390 $ (2,147) $ 8,243
Cost of Goods Sold 1,569 (197) 1,372 1,497 (65) 1,432
Gross Margin 8,082 (3,236) 4,846 8,893 (2,082) 6,811
Gross Margin % 84% 78% 86% 83%
Appendix – Unaudited Reconciliation of Net Loss to Adjusted
EBITDA
27 © 2026 MaxCyte, Inc. All Rights Reserved
Unaudited Reconciliation of Net Loss to Adjusted EBITDA
(in thousands)
(Unaudited)
Three Months Ended
March 31,
2026 2025
(in thousands)
Net loss $ (4,750) $ (10,261)
Depreciation and amortization expense 1,047 1,096
Interest income (1,435) (2,034)
Income taxes — —
EBITDA $ (5,138) $ (11,199)
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v3.26.1
Document and Entity Information
May 12, 2026
Document and Entity Information [Abstract]
Document Type
8-K
Document Period End Date
May 12, 2026
Entity File Number
001-40674
Entity Registrant Name
MaxCyte, Inc.
Entity Incorporation, State or Country Code
DE
Entity Tax Identification Number
52-2210438
Entity Address State Or Province
MD
Entity Address, Address Line One
9713 Key West Avenue
Entity Address, Adress Line Two
Suite 400
Entity Address, City or Town
Rockville
Entity Address, Postal Zip Code
20850
City Area Code
301
Local Phone Number
944-1700
Title of 12(b) Security
Common Stock, $0.01 par value
Trading Symbol
MXCT
Security Exchange Name
NASDAQ
Entity Emerging Growth Company
true
Entity Ex Transition Period
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Entity Central Index Key
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