Filing Flows › Industrials › Maxcyte (MXCT)
Maxcyte (MXCT) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · Maxcyte (MXCT) Q2 2026 earnings results →
Q2 2026 Revenue down 14% year over year to $7.3M · 122¢ of every $1 of revenue lost · operating margin -140.7%
Maxcyte made $7.3M in Q2 2026 (-14% Y/Y): Product sales $4.1M, Licenses $2.6M, Assay and other service revenue $583K. Operating margin -140.7%, net loss $8.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $7.3M in Q2 2026, down 15% year over year and down 25% from the previous quarter. Product sales was the largest line at 56% of revenue. Product sales lost $1.2M year over year (down 22%), 95% of the total change.
Gross margin was 77.0%, down 5.2 points from Q2 2025. Operating costs exceeded revenue by $10.2M, an operating margin of -140.7%. Operating expenses fell 25% while revenue fell 15%. The quarter ended with a net loss of $8.9M, wider than the previous quarter's $4.8M loss.
Operating cash flow was −$4.7M. Non-cash charges added back $1.0M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items added $2.1M. Capital expenditures of $62K exceeded it, leaving free cash flow of −$4.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 13, 2026 | $7.3M | -14% | -140.7% | −$8.9M | −$4.7M |
| Q1 2026 | 10-Q | May 13, 2026 | $9.7M | -7% | -64.1% | −$4.8M | −$8.2M |
| Q4 2025 | 10-K | Mar 25, 2026 | $7.3M | -16% | -153.8% | −$9.6M | −$2.7M |
| Q3 2025 | 10-Q | Nov 13, 2025 | $6.8M | -16% | -207.2% | −$12.4M | −$7.5M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $8.5M | -18% | -167.2% | −$12.4M | −$9.9M |
| Q1 2025 | 10-Q | May 8, 2025 | $10.4M | -8% | -118.3% | −$10.3M | −$14.4M |
| Q4 2024 | 10-K | Mar 11, 2025 | $8.7M | -44% | -148.4% | −$10.6M | −$7.8M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About Maxcyte
We are a leading commercial cell engineering company focused on providing enabling platform technologies to advance the discovery, development and commercialization of next-generation cell therapeutics including cell and gene therapies and to support innovative cell-based research and development. Over more than two decades, we have developed and commercialized our proprietary Flow Electroporation ® technology, which is used by biopharmaceutical companies in the complex engineering of a wide variety of cells. Electroporation is a method of transfection, or the process of deliberately introducing molecules into cells, that involves applying an electric field in order to temporarily increase the permeability of the cell membrane.
In its own words, from its 10-K, filed Mar 25, 2026.
Maxcyte against its Services-Commercial Physical & Biological Research peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -14% against the peers' median +8%. Operating margin: -140.7% against the peers' median 12.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MXCT Maxcyte | Q2 2026 | $7.3M | -14% | -140.7% |
| IQV IQVIA Holdings | Q3 2026 | $4.4B | +8% | 12.9% |
| INCY Incyte | Q3 2026 | $1.6B | +14% | -45.5% |
| CRL Charles River Laboratories International | Q3 2026 | $983M | -2% | 20.6% |
| MEDP Medpace Holdings | Q3 2026 | $716M | +8% | 23.1% |
| NRC NRC Health | Q3 2026 | $38.4M | +11% | 23.2% |
| FOXO Foxo Technologies | Q2 2026 | $4.7M | -10% | 185.5% |
| OABI OmniAb | Q3 2026 | $4.0M | +78% | -409.9% |
| BIAF bioAffinity Technologies | Q3 2026 | $1.1M | -26% | -328.0% |
Source: Maxcyte 10-Q on SEC EDGAR · CIK 1287098 · Services-Commercial Physical & Biological Research
13F: who owns MXCT and who is buying
More on MXCT
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results