Filing Flows › Maxcyte (MXCT) › Q4 2025
Maxcyte (MXCT) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 25, 2026
Maxcyte (MXCT) reported revenue of $7.3M for the fourth quarter 2025 (Q4 2025), -16% from a year earlier and +7% from the quarter before. Operating margin was -153.8%, net loss $9.6M (131.5% of revenue).
Maxcyte, Q4 2025: revenue $7.3M (-16% year over year), operating margin -153.8%, net loss $9.6M, operating cash flow −$2.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.3M | +7% | -16% |
| Operating profit | −$11.2M | — | — |
| Net earnings | −$9.6M | — | — |
| Operating cash flow | −$2.7M | — | — |
What changed
Revenue was $7.3M in Q4 2025, down 16% year over year and up 7% from the previous quarter. Product sales was the largest line at 57% of revenue.
Gross margin was 77.9%, up 4.2 points from Q4 2024. Operating costs exceeded revenue by $11.2M, an operating margin of -153.8%. Operating expenses fell 12% while revenue fell 16%. The fastest-growing cost line was Other operating costs (+350%). The quarter ended with a net loss of $9.6M, narrower than the previous quarter's $12.4M loss.
Operating cash flow was −$2.7M. Non-cash charges added back $1.1M of depreciation and amortization and $706K of share-based compensation. Working capital and other items added $5.1M. Capital expenditures of $231K exceeded it, leaving free cash flow of −$2.9M.
Questions
What was Maxcyte's revenue in the fourth quarter 2025?
Maxcyte (MXCT) reported revenue of $7.3M for the fourth quarter 2025 (Q4 2025), -16% from a year earlier and +7% from the quarter before.
Was Maxcyte profitable in the fourth quarter 2025?
Operating loss was $11.2M (-153.8% of revenue) and net loss $9.6M.
Source: Maxcyte 10-K on SEC EDGAR.