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Maxcyte cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$4.7M in Q2 2026 · −$23.6M over twelve months

Operating cash flow−$4.7M
Capital spending−$62K
Free cash flow−$4.7M
Cash conversion cycle391 days

Analysis

In Q2 2026, Maxcyte generated −$4.7M of operating cash flow and spent $62K on capital projects, leaving free cash flow of −$4.7M. That is $5.7M more than in Q2 2025 (−$10.4M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$23.0M; the largest uses were operating cash flow ($23.0M), other financing ($1.4M), capital spending ($665K); besides operations, cash came from other investing ($24.8M), shares issued ($58K); the cash balance fell by $183K.

Operating cash flow was −$4.7M against net income of −$8.9M. The largest differences: stock-based pay +$1.2M, depreciation & amortization +$978K, deferred revenue −$808K.

Its cash conversion cycle was 391 days (receivables 51 + inventory 419 − payables 80).

Free cash flow

Maxcyte: free cash flow by quarterMaxcyte: free cash flow by quarter−$4.8MQ3 2024−$8.0MQ4 2024−$15.1MQ1 2025−$10.4MQ2 2025−$7.8MQ3 2025−$2.9MQ4 2025−$8.2MQ1 2026−$4.7MQ2 2026
Operating cash flow less capital spending.
Maxcyte: operating cash flow against capital spendingMaxcyte: operating cash flow against capital spendingOperating cash flowCapital spending−$4.4M$406KQ3 2024−$7.8M$147KQ4 2024−$14.4M$653KQ1 2025−$9.9M$584KQ2 2025−$7.5M$300KQ3 2025−$2.7M$231KQ4 2025−$8.2M$72KQ1 2026−$4.7M$62KQ2 2026
Latest (Q2 2026): Operating cash flow −$4.7M, Capital spending $62K.

Capital allocation, year by year

Maxcyte: where the cash came from (up) and went (down), by fiscal yearMaxcyte: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsFY2021: Operating cash flow −$10.7MFY2021: Net borrowing −$5.0MFY2021: Shares issued $55.4MFY2021: Asset sales $5KFY2021: Capital spending −$3.8M$55.4MFY2021FY2022: Operating cash flow −$14.8MFY2022: Shares issued $5.8MFY2022: Capital spending −$18.5M$5.8MFY2022FY2023: Operating cash flow −$21.7MFY2023: Shares issued $1.9MFY2023: Asset sales $9KFY2023: Capital spending −$3.7M$1.9MFY2023FY2024: Operating cash flow −$27.6MFY2024: Shares issued $1.6MFY2024: Capital spending −$1.7M$1.6MFY2024FY2025: Operating cash flow −$34.4MFY2025: Shares issued $432KFY2025: Capital spending −$1.8MFY2025: Acquisitions −$1.8M$432KFY2025
Over these 5 years operating cash flow totalled −$109M; the largest uses were operating cash flow ($109M) and capital spending ($29.4M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$106M
Debtnone
Net cash$106M
Cash runway4.5 years

Maxcyte is burning cash: its operations consume cash, a free cash flow of −$23.6M a year at the current rate against $106M of cash and investments: a runway of about 4.5 years before any new financing.

Where the cash came from and went

Maxcyte: sources (+) and uses (−) of cash, Q2 2026Maxcyte: sources (+) and uses (−) of cash, Q2 2026Other investing$6.6MOperating cash flow−$4.7MOther financing−$1.4MCash drawn (+) / kept (−)−$485KCapital spending−$62KShares issued$24K
Maxcyte: sources (+) and uses (−) of cash, TTM to Q2 2026Maxcyte: sources (+) and uses (−) of cash, TTM to Q2 2026Other investing$24.8MOperating cash flow−$23.0MOther financing−$1.4MCapital spending−$665KCash drawn (+) / kept (−)$183KShares issued$58K

From profit to cash

Maxcyte: net income to operating cash flow, Q2 2026Maxcyte: net income to operating cash flow, Q2 2026Net income−$8.9MDepreciation & amortization$978KStock-based pay$1.2MReceivables$324KInventory−$472KPayables$361KDeferred revenue−$808KPrepaid and other assets$542KOther liabilities$40KOperating cash flow−$4.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20265141980391
Q1 20263643574397
Q4 20257443377431
Q3 20259544872471
Q2 202560485105441
Q1 202544517109452
Q4 20244938965373
Q3 20245251467498

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$4.7M−$62K—$24K−$485K−$4.7M
Q1 2026−$8.2M−$72K—$5K$5.5M−$8.2M
Q4 2025−$2.7M−$231K—$15K−$7.1M−$2.9M
Q3 2025−$7.5M−$300K—$14K$2.3M−$7.8M
Q2 2025−$9.9M−$584K—$20K$8.2M−$10.4M
Q1 2025−$14.4M−$653K−$1.8M$383K$4.5M−$15.1M
Q4 2024−$7.8M−$147K—$218K$9.1M−$8.0M
Q3 2024−$4.4M−$406K—$228K$555K−$4.8M

Maxcyte: income statement and cash flow

Maxcyte, Q2 2026: revenue $7.3M (-14% year over year), operating margin -140.7%. The chart follows the revenue to costs, profit and cash.

Maxcyte: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.