Filing Flows › Maxcyte (MXCT) › Q3 2025
Maxcyte (MXCT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 13, 2025
Maxcyte (MXCT) reported revenue of $6.8M for the third quarter 2025 (Q3 2025), -16% from a year earlier and -20% from the quarter before. Operating margin was -207.2%, net loss $12.4M (181.8% of revenue).
Maxcyte, Q3 2025: revenue $6.8M (-16% year over year), operating margin -207.2%, net loss $12.4M, operating cash flow −$7.5M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.8M | -20% | -16% |
| Operating profit | −$14.1M | — | — |
| Net earnings | −$12.4M | — | — |
| Operating cash flow | −$7.5M | — | — |
What changed
Revenue was $6.8M in Q3 2025, down 16% year over year and down 20% from the previous quarter. Product sales was the largest line at 58% of revenue. Product sales lost $1.2M year over year (down 24%), 93% of the total change.
Gross margin was 76.6%, up 0.2 points from a year earlier. Operating costs exceeded revenue by $14.1M, an operating margin of -207.2%. Operating expenses fell 4% while revenue fell 16%. The fastest-growing cost line was Other operating costs (+302%). The quarter ended with a net loss of $12.4M, wider than the previous quarter's $12.4M loss.
Operating cash flow was −$7.5M. Non-cash charges added back $1.1M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items added $1.9M. Capital expenditures of $300K exceeded it, leaving free cash flow of −$7.8M.
Questions
What was Maxcyte's revenue in the third quarter 2025?
Maxcyte (MXCT) reported revenue of $6.8M for the third quarter 2025 (Q3 2025), -16% from a year earlier and -20% from the quarter before.
Was Maxcyte profitable in the third quarter 2025?
Operating loss was $14.1M (-207.2% of revenue) and net loss $12.4M.
Source: Maxcyte 10-Q on SEC EDGAR.