MaxCyte (MXCT) Q2 2026 Earnings Call Transcript

Good afternoon, everyone. This is MaxCyte's Q2 2026 earnings call. We reported $7.3 million in total revenue, with $6.5 million coming from core revenue and $0.8 million from SPL program-related revenue. This exceeded our expectations and aligns with our year-long framework. We faced headwinds like inventory drawdown and discontinued partner clinical programs, but stabilized revenue in the first half and aim to return to growth in the second half.

Q2 saw a 2% increase in sequential revenue, driven by instrument placements and GTx placements. Our SPL portfolio maintained stable processing assembly revenue. Overall, disciplined execution led to improved first-half financials despite revenue challenges. We're investing in R&D for ExPERT DTx, SeQure, and new collaborations to broaden our platform and revenue streams.

We announced a multiplatform technology license deal with Genentech, which is crucial for us. This enterprise-level partnership with Genentech supports multiple cell therapy programs, broadening how we engage with customers from discovery to commercial manufacturing. This trend could lead to greater revenue capture in research and clinical development.