MAXCYTE, INC.
MXCT · Services-Commercial Physical & Biological Research · 107.1M shares · +17%/yr ↑ dilution · EDGAR filings ↗
Reference price $0.81 · est. market cap ~$87M — last insider sale, 2026-03-17 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D46Well-funded, fast-growing cell-engineering tools company that remains deeply unprofitable with no near-term path to profit.
Strengths
- Strong revenue growth +32% (80th pct) and high gross margin 81% (90th pct) on a validated ExPERT/SPL platform
- Long liquidity runway: ~17 quarters of cash, current ratio 8.3, $155M cash, no going-concern risk
Risks
- Deep losses: net margin -135%, ROE -26%, ROA -22%, negative EBITDA and FCF
- Dependence on a few customers and on customers' clinical/commercial milestones outside its control
Notable findings
- Cash burnNegative free cash flow (-36.2M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +17%/yr over 4y (dilution, book value/share -65%)
- Net lossNet loss (net margin -135.1%)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $156M cash & investments, ~17 quarters of runway
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, RENAISSANCE TECHNOLOGIES LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
81.2%
Operating margin
-157.1%
Net margin
-135.1%
Return on equity
-26.0%
Return on assets
-22.0%
Revenue growth (QoQ)
32.2%
Current ratio
8.3×
Free cash flow
-$36M
EBITDA
-$48M
Tangible book value
$171M
Cash & investments
$156M
Cash runway
17q
Stock comp / revenue
27.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-17 | Johnston John Joseph | Grant | 30K | — |
| 2026-06-17 | Hemrajani Rekha | Grant | 30K | — |
| 2026-06-17 | Erck Stanley C | Grant | 30K | — |
| 2026-06-17 | DOUGLAS RICHARD | Grant | 30K | — |
| 2026-06-17 | Collins Cynthia | Grant | 30K | — |
| 2026-06-17 | Brooke William W | Grant | 30K | — |
| 2026-06-17 | BALTHROP PATRICK J | Grant | 30K | — |
| 2026-06-17 | Al-Wakeel Yasir B. | Grant | 30K | — |
| 2026-04-15 | Ahuja Parmeet | Grant | 188K | — |
| 2026-03-27 | Masoud Maher | Grant | 300K | — |
| 2026-03-17 | Swirsky Douglas J | Sell | 10K | $0.81 |
| 2025-08-13 | Masoud Maher | Buy | 75K | $1.37 |
| 2025-08-13 | Erck Stanley C | Buy | 100K | $1.37 |
| 2025-08-13 | DOUGLAS RICHARD | Buy | 80K | $1.39 |
| 2025-08-13 | Brooke William W | Buy | 50K | $1.29 |
| 2025-08-13 | Swirsky Douglas J | Buy | 50K | $1.29 |
| 2025-06-25 | Hemrajani Rekha | Sell | 11K | $2.09 |
| 2025-06-18 | Johnston John Joseph | Grant | 29K | — |
| 2025-06-18 | Hemrajani Rekha | Grant | 29K | — |
| 2025-06-18 | Erck Stanley C | Grant | 29K | — |
| 2025-06-18 | DOUGLAS RICHARD | Grant | 29K | — |
| 2025-06-18 | Collins Cynthia | Grant | 29K | — |
| 2025-06-18 | Brooke William W | Grant | 29K | — |
| 2025-06-18 | BALTHROP PATRICK J | Grant | 29K | — |
| 2025-06-18 | Al-Wakeel Yasir B. | Grant | 29K | — |
| 2025-03-18 | Soleymannezhad Ali | Sell | 1.2K | $3.18 |
| 2025-03-18 | Sandoval David I. | Sell | 353 | $3.18 |
| 2025-03-18 | Swirsky Douglas J | Sell | 6.9K | $3.18 |
| 2025-03-14 | Soleymannezhad Ali | Grant | 35K | — |
| 2025-03-14 | Sandoval David I. | Grant | 23K | — |
| 2025-03-14 | Swirsky Douglas J | Grant | 38K | — |
| 2025-01-27 | Johnston John Joseph | Option exercise | 3.0K | $2.93 |
| 2025-01-27 | Johnston John Joseph | Sell | 3.0K | $4.64 |
| 2025-01-13 | Sandoval David I. | Sell | 4.5K | $4.54 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT03608618 ↗ | Intraperitoneal MCY-M11 (Mesothelin-targeting CAR) for Treatment of Advanced Ovarian Cancer and Peritoneal Mesothelioma Peritoneal Mesothelioma, Fallopian Tube Adenocarcinoma | PHASE1 | Terminated | 2021-02-11 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-17 | Shareholder vote | filing ↗ |
| 2026-06-16 | Delisting notice | filing ↗ |
| 2026-05-12 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-27 | Exec/director changeExhibits | filing ↗ |
| 2026-03-24 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-20 | Delisting notice | filing ↗ |
| 2026-01-12 | ResultsExhibits | filing ↗ |
| 2025-11-12 | ResultsReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-17 | 2026-06-17 | 0001104659-26-075211 ↗ |
| 8-K | 2026-06-16 | 2026-06-10 | 0001104659-26-074594 ↗ |
| 10-Q | 2026-05-13 | 2026-03-31 | 0001104659-26-060290 ↗ |
| 8-K | 2026-05-12 | 2026-05-12 | 0001104659-26-059399 ↗ |
| 8-K | 2026-03-27 | 2026-03-23 | 0001104659-26-036201 ↗ |
| 10-K | 2026-03-25 | 2025-12-31 | 0001104659-26-034557 ↗ |
| 8-K | 2026-03-24 | 2026-03-24 | 0001104659-26-033867 ↗ |
| 8-K | 2026-03-20 | 2026-03-16 | 0001104659-26-032761 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0001104659-26-002901 ↗ |
| 10-Q | 2025-11-13 | 2025-09-30 | 0001104659-25-111396 ↗ |
| 8-K | 2025-11-12 | 2025-11-12 | 0001104659-25-110375 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001104659-25-107118 ↗ |