MaxCyte, Inc. (LON:MXCT) Second-Quarter Results: Here's What Analysts Are Forecasting For This Year

As you might know, MaxCyte, Inc. (LON:MXCT) just kicked off its latest second-quarter results with some very strong numbers. Revenue crushed expectations at US$10m, beating expectations by 31%. MaxCyte reported a statutory loss of US$0.09 per share, which - although not amazing - was much smaller than the analysts predicted. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

View our latest analysis for MaxCyte

Taking into account the latest results, the current consensus, from the eight analysts covering MaxCyte, is for revenues of US$37.0m in 2024. This implies a not inconsiderable 18% reduction in MaxCyte's revenue over the past 12 months. Per-share losses are expected to explode, reaching US$0.44 per share. Before this latest report, the consensus had been expecting revenues of US$36.4m and US$0.46 per share in losses. It looks like there's been a modest increase in sentiment in the recent updates, with the analysts becoming a bit more optimistic in their predictions for losses per share, even though the revenue numbers were unchanged.

There's been no major changes to the consensus price target of UK£5.48, suggesting that reduced loss estimates are not enough to have a long-term positive impact on the stock's valuation. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. Currently, the most bullish analyst values MaxCyte at UK£7.67 per share, while the most bearish prices it at UK£3.30. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the MaxCyte's past performance and to peers in the same industry. These estimates imply that revenue is expected to slow, with a forecast annualised decline of 34% by the end of 2024. This indicates a significant reduction from annual growth of 17% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 18% annually for the foreseeable future. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - MaxCyte is expected to lag the wider industry.

The Bottom Line

The most important thing to take away is that the analysts reconfirmed their loss per share estimates for next year. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. The consensus price target held steady at UK£5.48, with the latest estimates not enough to have an impact on their price targets.

Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. At Simply Wall St, we have a full range of analyst estimates for MaxCyte going out to 2026, and you can see them free on our platform here..

Plus, you should also learn about the 1 warning sign we've spotted with MaxCyte .

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.