MaxCyte, Inc. (NASDAQ:MXCT) Q3 2023 Earnings Conference Call November 8, 2023 4:30 PM ET

Company Participants

Sean Menarguez - Head of IR

Doug Doerfler - President & CEO

Douglas Swirsky - CFO

Conference Call Participants

Dan Arias - Stiefel

Hannah Hefley - Stephens

Matt Larew - William Blair

Steven Mah - TD Cowen

Operator

Good day, and thank you for standing by, and welcome to MaxCyte’s Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded.

I would now like to introduce your host for today’s call, Sean Menarguez, Senior Director of Innovation and Business Development. Please go ahead.

Sean Menarguez

Well, thank you, Justin and good afternoon, everyone. My name is Sean Menarguez and I am the Director of Innovation and Business Development here at MaxCyte. Thank you all for participating in today’s conference call. On the call from MaxCyte is Doug Doerfler, President and Chief Executive Officer; and Douglas Swirsky, Chief Financial Officer. Earlier today, MaxCyte released financial results for the third quarter ended September 30, 2023. A copy of the press release is available on the company’s website.

Before we begin, I need to read the following statement. Statements or comments made during this call maybe forward-looking statements within the meaning of federal securities laws. Any statements contained in this call that relate to expectations or predictions of future events, results or performance are forward-looking statements.

Actual results may differ materially from those expressed or implied in any forward-looking statements due to a variety of factors, which are discussed in detail in our SEC filings. The company undertakes no obligation to publicly update any forward-looking statements, whether because of new information, future events or otherwise.

Now with that, I will turn the call over to Doug.

Doug Doerfler

Thank you, Sean. Good afternoon, everyone, and thank you for joining MaxCyte's third quarter 2023 earnings call. I will begin with a discussion of our business and operational highlights during the quarter, followed by a detailed financial review from Doug Swirsky, DJ, our financial, our Chief Financial Officer. We will then open the call for questions.

MaxCyte reported $8 million in total revenue in the third quarter at the high end of our pre-announced revenue range. Core revenue was $6.6 million, also at the high end of our pre-announced range. Over the last month, the business has performed in line with the expectations we laid out on our call on October 4, and today, we are reiterating our revenue guidance for the full year of 2023.