MaxCyte Announces Operational Restructuring to Reduce Costs and Accelerate Path to Profitability

Rhea-AI Summary

MaxCyte (NASDAQ:MXCT), a cell-engineering platform technology company, has announced a significant operational restructuring to optimize costs and accelerate profitability. The plan includes a 34% reduction in global workforce, expected to generate $13.6 million in annual savings.

The company reiterated its 2025 guidance, expecting core revenue to be flat to down 10% compared to 2024, with $5 million in SPL program-related revenue. MaxCyte projects to maintain at least $155 million in cash, cash equivalents, and investments by year-end.

Positive

• None.

Negative

• 34% reduction in global workforce
• Core revenue expected to decline up to 10% in 2025 compared to 2024
• Current unprofitable status requiring significant cost-cutting measures

Insights

Financial Restructuring Specialist

MaxCyte's 34% workforce reduction aims to save $13.6M annually while maintaining $155M year-end cash position amid flat/declining revenue.

MaxCyte's restructuring announcement represents a significant strategic pivot designed to address profitability concerns. The 34% workforce reduction signals substantial operational challenges, likely stemming from the company's flat to 10% declining core revenue outlook for 2025 compared to 2024. The projected $13.6 million in annualized savings from this workforce reduction indicates the company is implementing aggressive cost control measures.

This restructuring follows a common pattern seen in biotech companies facing revenue pressure – cutting operational expenses to extend cash runway while preserving key assets. With year-end cash projected to remain at $155 million despite revenue challenges, this move appears designed to reassure investors about MaxCyte's financial stability during this transition period.

The company's decision to maintain its previous revenue guidance suggests the restructuring was already factored into earlier projections. The retention of $5 million in Strategic Platform License (SPL) program-related revenue is notable, indicating the company is preserving its higher-margin licensing business while likely scaling back lower-margin operations.

CEO Masoud's reference to "additional non-employee related opportunities to improve the profitability profile" suggests this workforce reduction is just the first phase of a more comprehensive restructuring plan. This typically involves facility consolidations, program prioritization, and potential divestiture of non-core assets – all aimed at creating a leaner organization focused on the highest-value opportunities in cell therapy enablement.

ROCKVILLE, Md., Sept. 22, 2025 (GLOBE NEWSWIRE) -- MaxCyte, Inc., (Nasdaq: MXCT), a leading, cell-engineering focused company providing enabling platform technologies to advance the discovery, development and commercialization of next-generation cell therapeutics, today announced a restructuring of its operations to better align resources with its strategic priorities. This plan includes a reduction of approximately 34% of the Company’s global workforce, inclusive of employees engaged through employer-of-record (EOR) arrangements. Anticipated annualized savings as a result of this action are expected to be approximately $13.6 million.

This workforce reduction is part of MaxCyte’s commitment to significantly reduce operating expenses, streamline its organizational structure, and accelerate its path toward profitability. The Company expects this action to yield meaningful cost savings while maintaining focus on its core mission of enabling the next generation of cell therapies.

Consistent with its previously issued outlook, MaxCyte is reiterating that 2025 core revenue is expected to be flat to down approximately 10% compared to 2024. The Company continues to anticipate approximately $5 million in SPL program-related revenue for the full year and expects year-end cash, cash equivalents, and investments to be at least $155 million.

“Today’s decision is important to position MaxCyte for long-term success,” said Maher Masoud, Chief Executive Officer. “We are grateful to our departing colleagues for their many contributions to MaxCyte’s mission and wish them success in future endeavors. This strategic realignment of resources is a significant step forward as part of a broader strategic initiative to drive efficient growth and scale MaxCyte towards profitability.  We are developing a culture of continuous improvement throughout the organization and anticipate additional non-employee related opportunities to improve the profitability profile of the company over time. We expect to provide more details on the expected financial impact related to this initiative, as well as the outlook for the remainder of 2025, on our third quarter earnings call in November.”

The Company noted that this workforce reduction represents all the anticipated employee-related actions under the restructuring.

About MaxCyte

At MaxCyte®, we are committed to building better cells together. As a leading cell-engineering company, we are driving the discovery, development and commercialization of next-generation cell therapies. Our best-in-class Flow Electroporation® technology and SeQure DX™ gene editing risk assessment services enable precise, efficient and scalable cell engineering. Supported by expert scientific, technical and regulatory guidance, our platform empowers researchers from around the world to engineer diverse cell types and payloads, accelerating the development of safe and effective treatments for human health. For more than 25 years, we've been advancing cell engineering, shaping the future of medicine. Learn more at maxcyte.com and follow us on X and LinkedIn.

MaxCyte Contacts:

Investor Relations
Gilmartin Group
David Deuchler, CFA
+1 415-937-5400
ir@maxcyte.com

Media Contact
Oak Street Communications
Kristen White
kristen@oakstreetcommunications.com
415.608.6060

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations or financial condition, business strategy, plans and objectives of management for future operations, and anticipated benefits of the announced adjustments to the workforce are forward-looking statements. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements.

Risks and uncertainties related to our business are described in greater detail in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission (“SEC”) on March 11, 2025, as well as in discussions of potential risks, uncertainties, and other important factors in the other filings that we make with the Securities and Exchange Commission from time to time, including in our Form 10-Q for the quarter ended June 30, 2025, filed with the SEC on August 6, 2025. These documents are available through the Investor Menu, Financials section, under “SEC Filings” on the Investors page of our website at http://investors.maxcyte.com. Any forward-looking statements in this press release are based on our current beliefs and opinions on the relevant subject based on information available to us as of the date of such press release, and you should not rely on forward-looking statements as predictions of future events. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

FAQ

What is MaxCyte's (MXCT) restructuring plan for 2025?

MaxCyte announced a 34% reduction in its global workforce, expected to generate $13.6 million in annual savings as part of its operational restructuring to accelerate profitability.

How will MaxCyte's (MXCT) restructuring affect its 2025 revenue?

MaxCyte expects 2025 core revenue to be flat to down 10% compared to 2024, with approximately $5 million in SPL program-related revenue.

What is MaxCyte's (MXCT) projected cash position for 2025?

MaxCyte expects to maintain at least $155 million in cash, cash equivalents, and investments by the end of 2025.

When will MaxCyte (MXCT) provide more details about the restructuring impact?

MaxCyte will provide more details about the financial impact and outlook for the remainder of 2025 during its third quarter earnings call in November 2025.

How many employees will be affected by MaxCyte's (MXCT) 2025 restructuring?

The restructuring will affect approximately 34% of MaxCyte's global workforce, including employees engaged through employer-of-record (EOR) arrangements.