MaxCyte Expects FY24 Core Business Revenue To Be Flat To 5% Growth Compared To 2023, And SPL Program-Related Revenue Is Expected To Be ~$3M; Expects To End 2024 With $175M In Total Cash, Cash Equivalents And Investments
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MaxCyte expects its FY24 core business revenue to show 0-5% growth compared to 2023, with SPL Program-related revenue projected at $3M. The company anticipates ending 2024 with $175M in total cash, cash equivalents, and investments. This outlook excludes SPL Program-related revenue from Vertex/CRISPR's CASGEVYTM and accounts for a challenging year-over-year comparison due to a client milestone recognized in 2023.
March 12, 2024 | 8:09 pm
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MaxCyte projects FY24 core business revenue growth of 0-5% and expects SPL Program-related revenue to be around $3M, with a year-end cash position of $175M.
The projected growth in core business revenue and the expected SPL Program-related revenue indicate a stable but modest growth outlook for MaxCyte. The significant cash reserves expected by the end of 2024 suggest a strong financial position. However, the exclusion of revenue from Vertex/CRISPR's CASGEVYTM and the challenging year-over-year comparison due to a client milestone recognized in 2023 could temper investor enthusiasm, leading to a neutral short-term impact on the stock price.
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