MXCT Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03

Price $1.07

Market Cap (MRQ) $114M

P/E (TTM) -3.2

EPS (TTM) $-0.33

Revenue (TTM) $31M

ROE (TTM) -20.4%

52W Range $1–$2

MXCT Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04

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About MaxCyte, Inc. - Common Stock Company overview from Wikipedia

05 · wikidata

Wikidata ↗

sectorHealthcare industryLife Sciences Tools & Services employees91 countryUS

10-Year Performance Revenue, net income, margins and EPS trends

06

Revenue$33M

2019-12-31 → 2025-12-31

EPS$-0.42

2019-12-31 → 2025-12-31

Free Cash Flow$-36M

2022-12-31 → 2025-12-31

Net margin-114.8%

2022-12-31 → 2025-12-31

Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric	MXCT	5Y avg	Peer Median	Verdict
P/E (TTM)	-3.25Y avg ≈-19.9	≈-19.9	·	·
P/S (TTM)	3.75Y avg ≈10.2	≈10.2	2.7	Overvalued
P/B (MRQ)	0.75Y avg ≈1.9	≈1.9	1.8	Undervalued
Price / FCF (TTM)	-4.85Y avg ≈-13.9	≈-13.9	·	·
Price / Cash Flow (TTM)	-4.95Y avg ≈-20.3	≈-20.3	·	·
Price / Tangible Book (MRQ)	0.75Y avg ≈2.3	≈2.3	·	·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric	MXCT	5Y avg	Peer Median	Verdict
Gross Margin (TTM)	79.2%5Y avg ≈84.9%	≈84.9%	43.5%	Top tier
Operating Margin (TTM)	-134.6%5Y avg ≈-117.1%	≈-117.1%	-108.0%	Below avg
EBITDA Margin (TTM)	-121.2%5Y avg ≈-107.0%	≈-107.0%	-108.0%	Below avg
Pretax Margin (TTM)	-114.8%	·	-100.0%	Weak
Net Profit Margin (TTM)	-114.8%5Y avg ≈-96.6%	≈-96.6%	-105.8%	In line
ROA (TTM)	-17.6%5Y avg ≈-14.6%	≈-14.6%	-24.1%	Top tier
ROE (TTM)	-20.4%5Y avg ≈-17.4%	≈-17.4%	-35.7%	Top tier

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric	5Y trend	MXCT	5Y avg	Peer Median	Verdict
Current Ratio (MRQ)		12.35Y avg ≈11.5	≈11.5	3.2	Strong liquidity
Quick Ratio (MRQ)		11.15Y avg ≈10.7	≈10.7	1.4	Strong liquidity

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric	MXCT	5Y avg	Peer Median	Verdict
Revenue YoY	-14.5%5Y avg ≈6.5%	≈6.5%	·	·
Revenue CAGR 3Y	-9.3%5Y avg ≈3.9%	≈3.9%	·	·
Revenue CAGR 5Y	4.8%	·	·	·

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric	MXCT	5Y avg	Peer Median	Verdict
EPS (Diluted)	$-0.425Y avg ≈$-0.32	≈$-0.32	·	·
Revenue / Share	$0.315Y avg ≈$0.38	≈$0.38	·	·
Cash Flow / Share	$-0.325Y avg ≈$-0.24	≈$-0.24	·	·
Cash / Share	$0.195Y avg ≈$0.25	≈$0.25	·	·

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric	MXCT	5Y avg	Peer Median	Verdict
Asset Turnover	0.15Y avg ≈0.2	≈0.2	0.4	Weak
Inventory Turnover	0.85Y avg ≈0.7	≈0.7	2.1	Weak
Receivables Turnover	8.15Y avg ≈6.3	≈6.3	4.9	Top tier
Revenue / Employee	≈$362.9K	·	·	·

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14

Avg Surprise 17.5%

Period	Report	EPS Actual	EPS Est	Surprise
June 30, 2026	Aug 12, 2026	$-0.08	$-0.09	12.9%
March 31, 2026	May 13, 2026	$-0.04	$-0.08	51.0%
Dec. 31, 2025		$-0.06	$-0.08	26.5%
Sept. 30, 2025		$-0.09	$-0.11	19.8%
June 30, 2025		$-0.12	$-0.11	-13.9%
March 31, 2025		$-0.10	$-0.11	6.6%
Dec. 31, 2024		$-0.10	$-0.12	19.6%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15

Income Statement 18

Metric	2025	2024	2023	2022	2021	2020	2019
Revenue	$33M	$39M	$41M	$44M	$34M	$26M	$22M
Cost of Revenue	$6M	$7M	$5M	$5M	$4M	$3M	$2M
Gross Profit	$27M	$32M	$37M	$39M	$30M	$23M	$19M
R&D Expense	$21M	$22M	$24M	$20M	$15M	$18M	$18M
SG&A Expense	$28M	$30M	$30M	$26M	$19M	$7M	$6M
Operating Expenses	$79M	$83M	$85M	$67M	$48M	$34M	$32M
Operating Income	$-52M	$-51M	$-48M	$-27M	$-18M	$-11M	$-12M
Interest Expense	·	·	·	·	$5.4K	$21.7K	$51.9K
Interest Income	$7M	$10M	$10M	$4M	$150.8K	$65.9K	$206.1K
Other Non-op	$7M	$10M	$10M	$4M	$-893.6K	$-759.7K	$-475.0K
Pretax Income	$-45M	$-41M	$-38M	·	·	·	·
Income Tax	·	·	·	·	·	$0	$0
Net Income	$-45M	$-41M	$-38M	$-24M	$-19M	$-12M	$-13M
EPS (Basic)	$-0.42	$-0.39	$-0.37	$-0.23	$-0.21	$-0.17	$-0.23
EPS (Diluted)	$-0.42	$-0.39	$-0.37	$-0.23	$-0.21	$-0.17	$-0.23
Shares (Basic)	106,427,854	104,849,222	103,268,502	101,702,664	90,619,057	69,464,751	56,397,524
Shares (Diluted)	106,427,854	104,849,222	103,268,502	101,702,664	90,619,057	69,464,751	56,397,524
EBITDA	$-48M	$-47M	$-44M	$-25M	·	·	·

Balance Sheet 23

Metric	2025	2024	2023	2022	2021	2020	2019
Cash & Equivalents	$20M	$28M	$47M	$11M	$48M	$19M	·
Short-term Investments	$83M	$127M	$122M	$216M	$207M	$16M	·
Receivables	$4M	$5M	$6M	$11M	$7M	$5M	·
Inventory	$8M	$9M	$12M	$9M	$5M	$4M	·
Prepaid Expense	$4M	$4M	$4M	$3M	$3M	$1M	·
Other Current Assets	·	·	·	·	·	$1M	·
Current Assets	$118M	$172M	$190M	$252M	$270M	$45M	·
PP&E (Net)	$18M	$20M	$24M	$24M	$8M	$5M	·
Accum. Depreciation	$17M	$14M	$10M	$6M	$4M	$3M	·
Intangibles	$650.0K	·	·	·	·	·	·
Other Non-current Assets	$2M	$2M	$388.0K	$809.0K	$316.7K	$33.9K	·
Total Assets	$203M	$239M	$268M	$287M	$284M	$52M	·
Accounts Payable	$1M	$1M	$743.0K	$292.0K	$2M	$890.2K	·
Current Liabilities	$14M	$16M	$18M	$15M	$16M	$12M	·
Capital Leases	$16M	$17M	$18M	$16M	$5M	$1M	·
Other Non-current Liabilities	$263.0K	$274.0K	$283.0K	$1M	$450.2K	$788.8K	·
Total Liabilities	$31M	$33M	$36M	$33M	$21M	$19M	·
Common Stock	$1M	$1M	$1M	$1M	$1M	$773.8K	·
Paid-in Capital	$432M	$422M	$407M	$391M	$376M	$128M	·
Retained Earnings	$-261M	$-217M	$-176M	$-138M	$-114M	$-95M	·
Stockholders' Equity	$171M	$206M	$232M	$254M	$263M	$33M	$14M
Liabilities + Equity	$203M	$239M	$268M	$287M	$284M	$52M	·
Shares Outstanding	106,789,618	105,711,093	103,961,670	102,397,913	101,202,705	77,382,473	·

Cash Flow 11

Metric	2025	2024	2023	2022	2021	2020	2019
D&A	$4M	$4M	$4M	$3M	$1M	$1M	$613.5K
Stock-based Comp	$9M	$13M	$14M	$12M	$8M	$2M	$2M
Amort. of Intangibles	$53.0K	·	·	·	·	·	·
Other Non-cash	$-3M	$-4M	$-2M	$-6M	·	·	·
Operating Cash Flow	$-34M	$-28M	$-22M	$-15M	$-11M	$-9M	$-9M
CapEx	$2M	$2M	$4M	$18M	$4M	$2M	$1M
Investing Cash Flow	$26M	$7M	$55M	$-25M	$-195M	$-17M	$454.5K
Stock Issued	·	·	·	$3M	$52M	$29M	$12M
Financing Cash Flow	$656.0K	$2M	$2M	$3M	$235M	$29M	$12M
Net Change in Cash	$-8M	$-19M	$35M	$-37M	$29M	$4M	$4M
Free Cash Flow	$-36M	$-29M	$-25M	$-33M	·	·	·

Profitability 7

Metric	2025	2024	2023	2022	2021	2020	2019
Gross Margin	81.2%	81.6%	88.5%	88.5%	·	·	·
Operating Margin	-157.1%	-132.5%	-117.0%	-61.8%	·	·	·
Net Margin	-135.1%	-106.3%	-91.8%	-53.2%	·	·	·
Pretax Margin	-135.1%	-106.3%	·	·	·	·	·
EBITDA Margin	-144.0%	-121.4%	-106.9%	-55.7%	·	·	·
ROA	-20.2%	-16.2%	-13.7%	-8.3%	·	·	·
ROE	-24.6%	-19.6%	-16.3%	-9.3%	·	·	·

Liquidity & Solvency 2

Metric	Trend	2025	2024	2023	2022	2021	2020	2019
Current Ratio		8.3	10.9	10.7	16.4	·	·	·
Quick Ratio		7.5	10.1	9.7	15.5	·	·	·

Efficiency 3

Metric	2025	2024	2023	2022	2021	2020	2019
Asset Turnover	0.1	0.2	0.1	0.2	·	·	·
Inventory Turnover	0.8	0.7	0.5	0.7	·	·	·
Receivables Turnover	8.1	7.4	4.9	4.8	·	·	·

Per Share 5

Metric	2025	2024	2023	2022	2021	2020	2019
Book Value / Share	$1.61	$1.95	$2.23	$2.48	·	·	·
Revenue / Share	$0.31	$0.37	$0.40	$0.44	·	·	·
Cash Flow / Share	$-0.32	$-0.26	$-0.21	$-0.15	·	·	·
Cash / Share	$0.19	$0.26	$0.45	$0.11	·	·	·
EPS (TTM)	$-0.42	$-0.39	$-0.37	$-0.23	$-0.21	·	·

Growth Rates 3

Metric	2025	2024	2023	2022	2021	2020	2019
Revenue YoY	-14.5%	-6.4%	-6.7%	30.6%	29.5%	·	·
Revenue CAGR 3Y	-9.3%	4.5%	16.4%	·	·	·	·
Revenue CAGR 5Y	4.8%	·	·	·	·	·	·

Valuation (TTM) 10

Metric	2025	2024	2023	2022	2021	2020	2019
Revenue TTM	$33M	$39M	$41M	$44M	$34M	·	·
Net Income TTM	$-45M	$-41M	$-38M	$-24M	$-19M	·	·
Market Cap	$166M	$440M	$489M	$559M	·	·	·
P/E	-3.7	-10.7	-12.7	-23.7	-48.5	·	·
P/S	5.0	11.4	11.8	12.6	·	·	·
P/B	1.0	2.1	2.1	2.2	·	·	·
P / Tangible Book	1.0	2.1	2.1	2.2	3.9	·	·
P / Cash Flow	-4.8	-15.9	-22.5	-37.8	·	·	·
P / FCF	-4.6	-15.0	-19.2	-16.8	·	·	·
Earnings Yield	-27.1%	-9.4%	-7.9%	-4.2%	-2.1%	·	·

Income Statement 16

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue	$7M	$10M	$7M	$7M	$9M	$10M	$9M	$8M	$10M	$11M	$16M	$8M	$9M	$9M	$12M	$11M
Cost of Revenue	$2M	$2M	$2M	$2M	$2M	$1M	$2M	$2M	$1M	$1M	$2M	$793.0K	$1M	$1M	$2M	$1M
Gross Profit	$6M	$8M	$6M	$5M	$7M	$9M	$6M	$6M	$9M	$10M	$14M	$7M	$8M	$8M	$11M	$9M
R&D Expense	$4M	$4M	$3M	$5M	$6M	$6M	$5M	$5M	$6M	$7M	$6M	$6M	$6M	$6M	$6M	$5M
SG&A Expense	$7M	$6M	$5M	$6M	$8M	$9M	$7M	$8M	$8M	$7M	$8M	$7M	$8M	$7M	$6M	$6M
Operating Expenses	$16M	$14M	$17M	$19M	$21M	$21M	$19M	$20M	$21M	$22M	$22M	$21M	$21M	$21M	$18M	$17M
Operating Income	$-10M	$-6M	$-11M	$-14M	$-14M	$-12M	$-13M	$-14M	$-12M	$-12M	$-8M	$-14M	$-13M	$-13M	$-7M	$-8M
Interest Income	$1M	$1M	$2M	$2M	$2M	$2M	$2M	$2M	$3M	$3M	$3M	$3M	$3M	$2M	$2M	$1M
Other Non-op	$1M	$1M	$2M	$2M	$2M	$2M	$2M	$2M	$3M	$3M	$3M	$3M	$3M	$2M	$2M	$1M
Pretax Income	$-9M	$-5M	$-10M	$-12M	$-12M	$-10M	$-11M	$-12M	$-9M	$-10M	$-5M	$-11M	$-11M	$-11M	·	·
Net Income	$-9M	$-5M	$-10M	$-12M	$-12M	$-10M	$-11M	$-12M	$-9M	$-10M	$-5M	$-11M	$-11M	$-11M	$-5M	$-6M
EPS (Basic)	$-0.08	$-0.04	$-0.08	$-0.12	$-0.12	$-0.10	$-0.10	$-0.11	$-0.09	$-0.09	$-0.05	$-0.11	$-0.10	$-0.11	$-0.05	$-0.06
EPS (Diluted)	$-0.08	$-0.04	$-0.09	$-0.12	$-0.12	$-0.10	$-0.10	$-0.11	$-0.09	·	$-0.05	$-0.11	$-0.10	$-0.11	$-0.05	$-0.06
Shares (Basic)	106,822,633	106,875,087	·	106,613,075	106,403,540	105,950,480	·	105,109,603	104,639,239	104,089,758	·	103,449,715	103,063,606	102,846,036	·	101,806,173
Shares (Diluted)	106,822,633	106,875,087	·	106,613,075	106,403,540	105,950,480	·	105,109,603	104,639,239	104,089,758	·	103,449,715	103,063,606	102,846,036	·	101,806,173
EBITDA	$-10M	$-5M	·	$-14M	$-14M	$-11M	·	$-13M	$-11M	$-11M	·	$-13M	$-12M	$-12M	·	$-7M

Balance Sheet 24

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Cash & Equivalents	$15M	$15M	$20M	$13M	$15M	$23M	$28M	$37M	$38M	$22M	$47M	$49M	$55M	$38M	$11M	$43M
Short-term Investments	$91M	$92M	$83M	$93M	$111M	$115M	$127M	$117M	$120M	$135M	$122M	$141M	$162M	$187M	$216M	$190M
Receivables	$4M	$4M	$4M	$8M	$6M	$6M	$5M	$5M	$5M	$6M	$6M	$8M	$8M	$8M	$11M	$7M
Inventory	$8M	$8M	$8M	$8M	$8M	$8M	$9M	$10M	$11M	$12M	$12M	$13M	$11M	$10M	$9M	$8M
Prepaid Expense	$4M	$4M	$4M	$3M	$3M	$4M	$4M	$4M	$3M	$3M	$4M	$3M	$2M	$2M	$3M	$3M
Current Assets	$121M	$123M	$118M	$125M	$143M	$156M	$172M	$173M	$176M	$179M	$190M	$214M	$237M	$246M	$252M	$252M
PP&E (Net)	$15M	$17M	$18M	$19M	$19M	$20M	$20M	$21M	$22M	$23M	$24M	$24M	$24M	$25M	$24M	$23M
Accum. Depreciation	$17M	$18M	$17M	$17M	$17M	$16M	$14M	$13M	$12M	$11M	$10M	$9M	$8M	$7M	$6M	$6M
Goodwill	·	·	·	$4M	$4M	$4M	·	·	·	·	·	·	·	·	·	·
Intangibles	$766.0K	$783.0K	$650.0K	$667.0K	$638.0K	$498.0K	·	·	·	·	·	·	·	·	·	·
Other Non-current Assets	$1M	$3M	$2M	$3M	$3M	$2M	$2M	$1M	$640.0K	$295.0K	$388.0K	$619.4K	$597.3K	$399.3K	$809.0K	$1M
Total Assets	$185M	$194M	$203M	$213M	$220M	$230M	$239M	$249M	$251M	$258M	$268M	$267M	$271M	$282M	$287M	$286M
Accounts Payable	$2M	$1M	$1M	$1M	$1M	$2M	$1M	$2M	$953.0K	$2M	$743.0K	$446.6K	$2M	$4M	$292.0K	$2M
Current Liabilities	$10M	$10M	$14M	$16M	$12M	$13M	$16M	$18M	$12M	$13M	$18M	$17M	$13M	$17M	$15M	$17M
Capital Leases	$16M	$16M	$16M	$17M	$17M	$18M	$17M	$17M	$18M	$18M	$18M	$15M	$16M	$16M	$16M	$15M
Other Non-current Liabilities	$302.0K	$262.0K	$263.0K	$227.0K	$248.0K	$270.0K	$274.0K	$277.0K	$310.0K	$279.0K	$283.0K	$1M	$1M	$1M	$1M	·
Total Liabilities	$26M	$27M	$31M	$33M	$29M	$31M	$33M	$35M	$30M	$32M	$36M	$33M	$30M	$34M	$33M	$32M
Common Stock	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M
Paid-in Capital	$434M	$433M	$432M	$431M	$429M	$425M	$422M	$419M	$415M	$411M	$407M	$403M	$399M	$396M	$391M	$386M
Retained Earnings	$-275M	$-266M	$-261M	$-252M	$-239M	$-227M	$-217M	$-206M	$-195M	$-185M	$-176M	$-171M	$-159M	$-149M	$-138M	$-133M
Treasury Stock	$1M	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
Stockholders' Equity	$159M	$168M	$171M	$180M	$191M	$199M	$206M	$213M	$221M	$226M	$232M	$233M	$241M	$248M	$254M	$254M
Liabilities + Equity	$185M	$194M	$203M	$213M	$220M	$230M	$239M	$249M	$251M	$258M	$268M	$267M	$271M	$282M	$287M	$286M
Shares Outstanding	106,134,011	107,121,672	106,789,618	106,644,343	106,592,139	106,313,718	105,711,093	105,300,380	104,824,124	104,405,111	103,961,670	103,548,943	103,134,585	102,904,745	102,397,913	101,904,313

Cash Flow 12

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
D&A	$978.0K	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$962.0K	$919.9K	$743.3K
Stock-based Comp	$1M	$1M	$706.0K	$2M	$4M	$3M	$3M	$3M	$4M	$3M	$4M	$4M	$4M	$3M	$3M	$3M
Amort. of Intangibles	$17.0K	$17.0K	$17.0K	$15.0K	$12.0K	$10.0K	·	·	·	·	·	·	·	·	·	·
Other Non-cash	·	$-6M	·	·	·	$-8M	·	·	·	$-5M	·	·	·	$2M	·	·
Operating Cash Flow	$-5M	$-8M	$-3M	$-7M	$-10M	$-14M	$-8M	$-4M	$-5M	$-11M	$981.0K	$-8M	$-10M	$-4M	$-6M	$-6M
CapEx	$62.0K	$72.0K	$231.0K	$300.0K	$584.0K	$653.0K	$147.0K	$406.0K	$294.0K	$804.0K	$915.0K	$720.0K	$507.0K	$2M	$2M	$3M
Investing Cash Flow	$7M	$3M	$10M	$5M	$2M	$10M	$-2M	$4M	$19M	$-14M	$-4M	$3M	$27M	$30M	$-27M	$-61M
Stock Issued	·	·	·	·	·	·	·	·	·	·	·	·	$100.0K	$2M	·	·
Net Stock Activity	·	·	·	·	·	·	·	·	·	·	·	·	·	$2M	·	·
Financing Cash Flow	$-1M	$5.0K	$105.0K	$14.0K	$154.0K	$383.0K	$412.0K	$228.0K	$713.0K	$703.0K	$493.0K	$36.7K	$156.4K	$1M	$1M	$444.4K
Net Change in Cash	$485.0K	$-6M	$7M	$-2M	$-8M	$-4M	$-9M	$-555.0K	$15M	$-24M	$-3M	$-5M	$17M	$27M	$-32M	$-66M
Free Cash Flow	·	$-8M	·	·	·	$-15M	·	·	·	$-11M	·	·	·	$-6M	·	·

Profitability 7

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Gross Margin	77.0%	83.7%	·	76.6%	82.1%	85.6%	·	76.4%	85.7%	87.6%	·	90.1%	84.8%	88.3%	·	87.1%
Operating Margin	-140.7%	-64.1%	·	-207.2%	-167.2%	-118.3%	·	-172.1%	-114.8%	-108.2%	·	-174.3%	-144.6%	-153.7%	·	-72.5%
Net Margin	-122.0%	-49.2%	·	-181.8%	-145.3%	-98.8%	·	-141.6%	-89.9%	-84.0%	·	-140.6%	-116.3%	-126.9%	·	-60.5%
Pretax Margin	-122.0%	-49.2%	·	-181.8%	-145.3%	-98.8%	·	-141.6%	-89.9%	-84.0%	·	·	·	·	·	·
EBITDA Margin	-140.7%	-53.2%	·	-207.2%	-167.2%	-107.8%	·	-159.1%	-104.4%	-98.4%	·	-160.8%	-133.2%	-142.4%	·	-65.5%
ROA	-4.4%	-2.2%	·	-5.4%	-5.2%	-4.2%	·	-4.5%	-3.6%	-3.5%	·	-4.1%	-3.8%	-3.8%	·	-2.3%
ROE	-5.1%	-2.6%	·	-6.3%	-6.0%	-4.8%	·	-5.2%	-4.1%	-4.0%	·	-4.6%	-4.2%	-4.3%	·	-2.5%

Liquidity & Solvency 2

Metric	Trend	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Current Ratio		12.3	12.0	·	7.7	12.4	12.2	·	9.8	14.3	13.3	·	12.9	17.9	14.8	·	15.0
Quick Ratio		11.1	10.9	·	7.1	11.5	11.3	·	9.0	13.2	12.1	·	11.9	16.9	14.0	·	14.3

Efficiency 3

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Asset Turnover	0.0	0.0	·	0.0	0.0	0.0	·	0.0	0.0	0.0	·	0.0	0.0	0.0	·	0.0
Inventory Turnover	0.2	0.2	·	0.2	0.2	0.1	·	0.2	0.1	0.1	·	0.1	0.1	0.1	·	0.2
Receivables Turnover	1.5	2.0	·	1.1	1.6	1.8	·	1.3	1.7	1.6	·	1.0	1.2	1.0	·	1.6

Per Share 5

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Book Value / Share	$1.50	$1.57	·	$1.69	$1.79	$1.88	·	$2.03	$2.11	$2.17	·	$2.25	$2.34	$2.41	·	$2.50
Revenue / Share	$0.07	$0.09	·	$0.06	$0.08	$0.10	·	$0.08	$0.10	·	·	$0.08	$0.09	$0.08	·	$0.10
Cash Flow / Share	·	$-0.08	·	·	·	$-0.14	·	·	·	·	·	·	·	$-0.04	·	·
Cash / Share	$0.14	$0.14	·	$0.12	$0.14	$0.22	·	$0.35	$0.36	$0.21	·	$0.47	$0.53	$0.37	·	$0.42
EPS (TTM)	$-0.33	$-0.37	·	$-0.44	$-0.43	$-0.40	·	·	·	$-0.37	·	$-0.37	$-0.32	$-0.30	·	$-0.22

Valuation (TTM) 9

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue TTM	$31M	$32M	·	$34M	$36M	$38M	·	$46M	$45M	$44M	·	$38M	$41M	$41M	·	$42M
Net Income TTM	$-36M	$-39M	·	$-46M	$-45M	$-42M	·	$-36M	$-35M	$-37M	·	$-37M	$-33M	$-30M	·	$-24M
Market Cap	$131M	$75M	·	$168M	$232M	$290M	·	$410M	$411M	$437M	·	$323M	$473M	$509M	·	$662M
P/E	-3.7	-1.9	·	-3.6	-5.1	-6.8	·	·	·	-11.3	·	-8.4	-14.3	-16.5	·	-29.5
P/S	4.2	2.3	·	4.9	6.5	7.7	·	9.0	9.0	9.9	·	8.5	11.6	12.3	·	15.8
P/B	0.8	0.4	·	0.9	1.2	1.5	·	1.9	1.9	1.9	·	1.4	2.0	2.1	·	2.6
P / Tangible Book	0.8	0.5	·	1.0	1.2	1.5	·	1.9	1.9	1.9	·	1.4	2.0	2.1	·	2.6
P / Cash Flow	·	-9.2	·	·	·	-20.1	·	·	·	-41.4	·	·	·	-117.8	·	·
Earnings Yield	-26.8%	-52.6%	·	-27.9%	-19.7%	-14.6%	·	·	·	-8.8%	·	-11.9%	-7.0%	-6.1%	·	-3.4%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	$33M	$39M	$41M	$44M	$34M
Gross Margin %	81.2%	81.6%	88.5%	88.5%	·
Operating Margin %	-157.1%	-132.5%	-117.0%	-61.8%	·
Net Income	$-45M	$-41M	$-38M	$-24M	$-19M
Diluted EPS	$-0.42	$-0.39	$-0.37	$-0.23	$-0.21

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Current Ratio	8.3	10.9	10.7	16.4	·
Quick Ratio	7.5	10.1	9.7	15.5	·

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Free Cash Flow	$-36M	$-29M	$-25M	$-33M	·

Institutional owners (13F) 130 filers · $90.5M total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 130

Value held $90.5M

New positions 28

Exited positions 32

Institutional activity — Q2 2026 vs prior quarter

New positions	Exited positions	Increased	Decreased	Net shares change
28 (-13 vs prior Q)	32 (+13 vs prior Q)	51 (+22 vs prior Q)	27 (-8 vs prior Q)	-1.5M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution	Value	Shares	% of tracked 13F	Type
Capricorn Fund Managers Ltd	$10,086,000	8,200,000	11.14%	Shares
VANGUARD GROUP INC	$8,585,853	5,539,260	9.48%	Shares
Vitruvian Partners LLP	$6,203,328	5,043,356	6.85%	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$4,958,479	4,031,284	5.48%	Shares
MORGAN STANLEY	$4,543,680	3,694,049	5.02%	Shares
AXA Investment Managers S.A.	$4,382,215	2,773,554	4.84%	Shares
Mudita Advisors LLP	$4,145,947	3,370,689	4.58%	Shares
BlackRock, Inc.	$3,764,981	3,060,960	4.16%	Shares
Brooklands Fund Management Ltd	$3,674,027	2,848,083	4.06%	Shares
BNP PARIBAS ASSET MANAGEMENT Holding S.A.	$3,411,471	2,773,554	3.77%	Shares
CADIAN CAPITAL MANAGEMENT, LP	$2,707,434	2,201,166	2.99%	Shares
Peapod Lane Capital LLC	$2,614,675	2,125,752	2.89%	Shares
RENAISSANCE TECHNOLOGIES LLC	$2,350,284	1,910,800	2.60%	Shares
AQR CAPITAL MANAGEMENT LLC	$2,315,814	1,882,776	2.56%	Shares
JANE STREET GROUP, LLC	$1,922,493	1,563,003	2.12%	Shares
TWO SIGMA INVESTMENTS, LP	$1,799,417	1,462,941	1.99%	Shares
GEODE CAPITAL MANAGEMENT, LLC	$1,632,868	1,326,914	1.80%	Shares
RBF Capital, LLC	$1,626,605	1,322,443	1.80%	Shares
GOLDMAN SACHS GROUP INC	$1,527,590	1,241,943	1.69%	Shares
MILLENNIUM MANAGEMENT LLC	$1,482,053	1,204,921	1.64%	Shares
NANO CAP NEW MILLENNIUM GROWTH FUND L P	$1,476,000	1,200,000	1.63%	Shares
MARSHALL WACE, LLP	$1,248,178	1,014,778	1.38%	Shares
Willis Investment Counsel	$1,061,192	862,758	1.17%	Shares
CITADEL ADVISORS LLC	$1,053,271	856,318	1.16%	Shares
Stonepine Capital Management, LLC	$924,475	751,606	1.02%	Shares
VANGUARD FIDUCIARY TRUST CO	$803,440	653,203	0.89%	Shares
George Kaiser Family Foundation	$771,869	627,536	0.85%	Shares
STATE STREET CORP	$635,603	516,750	0.70%	Shares
Man Group plc	$552,218	448,958	0.61%	Shares
Qube Research & Technologies Ltd	$478,595	389,102	0.53%	Shares
Apollo Management Holdings, L.P.	$378,824	307,987	0.42%	Shares
Point72 Asset Management, L.P.	$368,819	299,853	0.41%	Shares
Marquette Asset Management, LLC	$351,174	285,507	0.39%	Shares
UBS Group AG	$349,655	284,273	0.39%	Shares
DIMENSIONAL FUND ADVISORS LP	$333,094	270,740	0.37%	Shares
JACOBS LEVY EQUITY MANAGEMENT, INC	$332,426	270,265	0.37%	Shares
NORTHERN TRUST CORP	$325,844	264,914	0.36%	Shares
VANGUARD PORTFOLIO MANAGEMENT LLC	$320,345	260,443	0.35%	Shares
IEQ CAPITAL, LLC	$292,694	237,962	0.32%	Shares
XTX Topco Ltd	$254,106	206,590	0.28%	Shares
Rathbones Group PLC	$247,034	200,841	0.27%	Shares
FMR LLC	$221,815	180,338	0.24%	Shares
TWO SIGMA ADVISERS, LP	$219,170	141,400	0.24%	Shares
Aster Capital Management (DIFC) Ltd	$200,822	163,270	0.22%	Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$193,100	156,992	0.21%	Shares
Callan Family Office, LLC	$189,803	154,311	0.21%	Shares
HSBC HOLDINGS PLC	$188,519	155,801	0.21%	Shares
BARCLAYS PLC	$183,286	149,013	0.20%	Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$144,146	117,192	0.16%	Shares
Quadrature Capital Ltd	$129,785	105,516	0.14%	Shares

Show all 130 institutional owners →

Activists & 5%+ owners 1 position

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer	Filed	Stake	Status	Purpose	Filing
RIVER GLOBAL INVESTORS LLP ×3 filings	Aug. 4, 2026	0.80%	Initial filing	·	SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 20 insiders · 10 officers · 12 directors

19

Insider	Role	Last activity	Shares owned	Sells 12m	Net 12m
Maher Masoud	President and CEO	March 27, 2026 A	475,000	0	$0
Douglas Doerfler	President and CEO	Dec. 5, 2023 M	333,197	0	$0
Parmeet Ahuja	Chief Financial Officer	April 15, 2026 A	187,500	0	$0
Douglas J Swirsky	CHIEF FINANCIAL OFFICER	March 17, 2026 S	151,669	1	$-8,316
Ron Holtz	Chief Financial Officer	March 20, 2023 A	125,251	0	$0
Amanda Louise Murphy	Chief Financial Officer	March 25, 2022 A	0	0	$0
Ali Soleymannezhad	Chief Commercial Officer	March 18, 2025 S	59,439	0	$0
David I. Sandoval	GENERAL COUNSEL	March 18, 2025 S	64,219	0	$0
Thomas M. Ross	EVP, GLOBAL SALES	Aug. 2, 2024 M	25,000	0	$0
Cenk Sumen	Chief Scientific Officer	March 20, 2023 A	·	0	$0
John Joseph Johnston	Director	June 17, 2026 A	201,581	0	$0
Rekha Hemrajani	Director	June 17, 2026 A	70,314	0	$0
Yasir B. Al-Wakeel	Director	June 17, 2026 A	80,998	0	$0
William W Brooke	Director	June 17, 2026 A	181,300	0	$0
Cynthia Collins	Director	June 17, 2026 A	111,310	0	$0
Stanley C Erck	Director	June 17, 2026 A	428,749	0	$0
Patrick J Balthrop	Director	June 17, 2026 A	80,998	0	$0
DOUGLAS RICHARD	Director	June 17, 2026 A	260,998	0	$0
Art Mandell	Director	June 11, 2024 A	395,851	0	$0
Stark J Thompson PHD	Director	Aug. 9, 2021 A	·	0	$0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 3 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund	Weight	Units	As of	Source
VXF · VANGUARD INDEX FUNDS	0.00%	1,220,047 SH	Aug. 19, 2026	Daily
VTI · VANGUARD INDEX FUNDS	0.00%	2,742,125 SH	Aug. 19, 2026	Daily
VHT · VANGUARD WORLD FUND	0.00%	260,443 SH	Aug. 19, 2026	Daily

MXCT Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21

rating · 12 analysts BUY

Median target $4.50 +320.6%

5 41.7% Strong Buy

5 41.7% Buy

2 16.7% Hold

0 0.0% Sell

0 0.0% Strong Sell

12-Month Price Target

4 analysts · 2026-10-03

Mean target $4.11 +283.9%

← Below all targets Current price $1.07

Low$2.43 Mean$4.11 High$5.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
MXCT	$166M	-3.7	-14.5%	-135.1%	-24.6%	81.2%
LFCR	$249M	-5.3	0.47%	-30.0%	-461.3%	31.3%
NAUT	$247M	-4.1	·	·	-34.9%	·
QTRX	$297M	-2.5	1.1%	-77.1%	-36.4%	46.8%
CDXS	$147M	-3.3	18.6%	-62.5%	-82.8%	·
SEER	·	-1.4	17.0%	·	·	·
CSBR	$83M	-74.5	4.4%	-2.0%	-30.5%	·
HYFT	·	·	·	-89.7%	-78.9%	58.8%
CIRC	·	·	·	·	·	·
RPID	·	-2.8	19.7%	-140.3%	-107.4%	·
TMO	$257.86B	32.7	3.9%	15.0%	13.0%	·

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26

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MXCT MaxCyte, Inc. - Common Stock