Christina, there is something "grossly" (pardon the pun) wrong with the table in the MaxCyte story. (1) If, as you say, gross margins are 89%, then the gross profits in the table are way off, and (2) net margins at a constant 3% mean either (a) the business does not scale (I find this unlikely), or (2) someone has scaled "fixed" costs like GS&A, R&D as if they were variable.
They've already proven profitability with high gross margins (89%). Question is will they continue to grow, and whether ex vivo cell therapy will still be relevant in the coming years.
What % of revenue comes from non gene editing applications ?
Thanks for reading and posting your comment! 🙏
It's a great question that I don't know the answer to. I don't think they've disclosed the breakdown, at least not in this investor presentation deck: https://maxcyte.com/wp-content/uploads/2021/01/maxcyte-january-trading-update-presentation-3.pdf
They only talk about overall revenue here.
If anyone coming across this knows more, please chime in!
Christina, there is something "grossly" (pardon the pun) wrong with the table in the MaxCyte story. (1) If, as you say, gross margins are 89%, then the gross profits in the table are way off, and (2) net margins at a constant 3% mean either (a) the business does not scale (I find this unlikely), or (2) someone has scaled "fixed" costs like GS&A, R&D as if they were variable.
I like your work, though! Martin J. Monroe, PhD
Is there any conceivable path to profitability?
They've already proven profitability with high gross margins (89%). Question is will they continue to grow, and whether ex vivo cell therapy will still be relevant in the coming years.