MaxCyte, Inc. Files Q2 2024 10-Q Report
Ticker: MXCT · Form: 10-Q · Filed: Aug 6, 2024 · CIK: 1287098
Sentiment: neutral
Topics: 10-Q, financials, biotech
TL;DR
MaxCyte's Q2 10-Q is in: financials updated, business moving forward.
AI Summary
MaxCyte, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported its financial results and provided updates on its business operations. Key financial data and balance sheet information as of June 30, 2024, and comparative periods were disclosed.
Why It Matters
This filing provides investors with the latest financial performance and operational status of MaxCyte, Inc., crucial for understanding the company's trajectory and making informed investment decisions.
Risk Assessment
Risk Level: medium — 10-Q filings are standard disclosures, but the inherent risks of the biotechnology sector and specific company performance can introduce volatility.
Key Numbers
- 2024-06-30 — Reporting Period End Date (Latest balance sheet information available.)
- 2024-08-06 — Filing Date (Date the 10-Q was officially submitted.)
Key Players & Entities
- MAXCYTE, INC. (company) — Filer
- 20240630 (date) — Reporting Period End Date
- 20240806 (date) — Filing Date
- ROCKVILLE, MD (location) — Business Address
FAQ
What were MaxCyte's total assets as of June 30, 2024?
The filing indicates balance sheet information for June 30, 2024, but specific total asset figures are not detailed in the provided header information.
What is MaxCyte's fiscal year end?
MaxCyte's fiscal year ends on December 31.
When was MaxCyte, Inc. incorporated?
MaxCyte, Inc. was incorporated in Delaware (DE).
What is the SEC file number for MaxCyte, Inc.?
The SEC file number for MaxCyte, Inc. is 001-40674.
What SIC code is assigned to MaxCyte, Inc.?
MaxCyte, Inc. is assigned SIC code 8731, which falls under SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH.
Filing Stats: 4,583 words · 18 min read · ~15 pages · Grade level 14 · Accepted 2024-08-06 16:55:36
Key Financial Figures
- $0.01 — ich registered Common stock, par value $0.01 per share MXCT The Nasdaq Stock Mar
Filing Documents
- mxct-20240630x10q.htm (10-Q) — 1513KB
- mxct-20240630xex31d1.htm (EX-31.1) — 15KB
- mxct-20240630xex31d2.htm (EX-31.2) — 15KB
- mxct-20240630xex32d1.htm (EX-32.1) — 8KB
- mxct-20240630xex32d2.htm (EX-32.2) — 7KB
- 0001558370-24-011120.txt ( ) — 5828KB
- mxct-20240630.xsd (EX-101.SCH) — 34KB
- mxct-20240630_cal.xml (EX-101.CAL) — 48KB
- mxct-20240630_def.xml (EX-101.DEF) — 138KB
- mxct-20240630_lab.xml (EX-101.LAB) — 344KB
- mxct-20240630_pre.xml (EX-101.PRE) — 252KB
- mxct-20240630x10q_htm.xml (XML) — 950KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 3 Item 1.
Financial Statements (Unaudited)
Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Changes in Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.
Controls and Procedures
Controls and Procedures 30
OTHER INFORMATION
PART II. OTHER INFORMATION 31 Item 1.
Legal Proceedings
Legal Proceedings 31 Item 1A.
Risk Factors
Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 31 Item 6. Exhibits 32
Signatures
Signatures 33 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Condensed Consolidated Financial Statements (Unaudited)
Item 1. Condensed Consolidated Financial Statements (Unaudited) MaxCyte, Inc. Condensed Consolidated Balance Sheets (in thousands, except share and per share amounts) June 30, December 31, 2024 2023 (Unaudited) (See Note 2) Assets Current assets: Cash and cash equivalents $ 37,513 $ 46,506 Short-term investments, at amortized cost 119,817 121,782 Accounts receivable, net 4,581 5,778 Inventory 11,159 12,229 Prepaid expenses and other current assets 2,577 3,899 Total current assets 175,647 190,194 Investments, non-current, at amortized cost 42,481 42,938 Property and equipment, net 21,720 23,513 Right-of-use asset - operating leases 11,008 11,241 Other assets 640 388 Total assets $ 251,496 $ 268,274 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 953 $ 743 Accrued expenses and other 7,076 11,269 Operating lease liability, current 878 774 Deferred revenue, current portion 3,368 5,069 Total current liabilities 12,275 17,855 Operating lease liability, net of current portion 17,650 17,969 Other liabilities 310 283 Total liabilities 30,235 36,107 Commitments and contingencies (Note 7) Stockholders' equity Preferred stock, $ 0.01 par value; 5,000,000 shares authorized and no shares issued and outstanding at June 30, 2024 and December 31, 2023 — — Common stock, $ 0.01 par value; 400,000,000 shares authorized, 104,824,124 and 103,961,670 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 1,048 1,040 Additional paid-in capital 414,912 406,925 Accumulated deficit ( 194,699 ) ( 175,798 ) Total stockholders' equity 221,261 232,167 Total liabilities and stockholders' equity $ 251,496 $ 268,274 See accompanying notes to unaudited condensed consolidated financial statements. 3 Table of Contents MaxCyte, Inc. Unaudited Condensed Consolidated Statem