MXCT - Earnings call transcript Q3 2024

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Hello, and welcome to MaxCyte Third Quarter Earnings Conference Call. [Operator Instructions] I would now like to hand the conference over to Scott Feinberg of Investor Relations.

You may begin.

Scott Feinberg

Good afternoon, everyone. My name is Scott Feinberg and I am responsible for Investor Relations here at MaxCyte. in call. participating for you todayâ€™s conference Thank

results Joining Maher website. Officer; Masoud, the XXXX. call A released and September the quarter we available have from MaxCyte on financial MaxCyte President today, release Swirsky, copy Financial me the XX, Chief second ended on Doug Officer. Earlier for press and is of Chief Executive companyâ€™s the

a meaning to events, information, forward-looking comments need federal the Before variety our any the the or publicly or will turn expectations due this read events, statements forward-looking of over differ forward-looking Any are I detail which laws. that company contained of to whether or Actual discussed future results by forward-looking new Statements to with this made we any filings. statements has materially results call because statements in call SEC future maybe Maher. applicable begin, are or that, to statement. following in update the during I may or predictions call statement, as otherwise. And in those Except required of law, obligation factors from statements. performance within no to securities in implied relate of expressed

Maher Masoud

comprised SPLs third of X in which with thank that were the year core Quarter. Scott. the $X.X expectations. We signed the earnings primarily our new MaxCyte's call. Licenses X the revenue, you, million in internal you ExPERT MaxCyte which in of and our we pleased number new of afternoon, single company. Thank continued of record everyone. a third by team demand including year, Good Strategic for quarter, has And third reported joining exceeded of A for been quarter demonstrated XXXX Platform, signed further execution total revenue our this Platform signed

for to the XXXX MaxCyte in We X quarters. The core trends growth our business over seen our particularly core last third very in quarter due have expectations performed for therapy. we've in revenue well, business in the confidence increased underlying cell

were capital instrument our XXX was our equipment driven of to pipeline by on XX. continued demand. caution growing well our grew Our third spending, revenue was against return strong instrument September the with to million, impacted at and the as base continues the in up by growth and revenue a be the XX% $X.X instrument quarter. PA in stable we customer in Though And customer million pleased very install Quarter. results opportunities year-over-year year-over-year as instrument sales team revenue quarter, our broad-based sequentially, executed $X.X

our overall customers' was Our green customers in in PA year-over-year comes stable growth activities. capital is see revenue environment have funding sequentially and encouraging remains state. largely a unchanged operating strength continued therapy mindset, equipment commercial to see. The programs, clinical we from a dependent of some shoots, quarter last upon are at to PA cell when research with progress The to it spending. cautious gene activity, somewhat Though particularly and

our are trends consistent therapy However, by throughout year. Overall, in business, gene underscores execution very bode core growth third and to through market for encouraged our the the which we and platform. well cell MaxCyte's stability quarter, continue

future about support therapies transduction, this SPL space gene cell such some as activity with see in therapy us with by as remain extremely therapy of and of expertise Kamau long-term partners, customers multiple and moving viral nonviral optimistic Biopharma evidenced the and modalities, as in MaxCyte's electroporation and cell Therapeutics. scientific We such We that opportunities. transfection Be other our our therapies more towards continue utilizing steps. Furthermore, growth to developers cell engineering complex allows in to require

for by SPLs, optimistic impact about patients. during clinic the quarter the continued our our customers' their remain to through future Turning we and encouraged progression

well Kamau in XXXX on in executed recently Our signed signed our resulting and most far, X this thus SPL year, pipeline in the pipeline continues the Therapeutics in SPLs including to opportunities September. we've robust, new be

believe We true a teams, continues to of a a have our testament platform, the gene differentiation the and therapy cell reached new of execution Electroporation record opportunity we year, SPLs the signed of strengthen. is and in our number in global to sizable that which

sickle most cure gene develop to can cell signed Kamau utilizing a SPL diseases, Our a therapy variety that company gene clinical-stage cell of recently therapies potentially integration Therapeutics stem is cell life-threatening correction targeted including disease.

asset addition that SPLs them brings optimize The total to technology Electroporation has MaxCyte's manufacturing Therapeutics to progress our potential their Flow to number through lead the excited are XX. of enable clinic. Kamau We the signed and their clinical process of

of continue ourselves and quarter, long-lasting Program-related patient provide pride scientific, them them technical our relationships we our a to to the customers to revenue support from regulatory, the maintain required with following on small succeed. In CASGEVY with completion for We amount related royalty dosing. and SPL to ability revenue of received commercial

Vertex's the of CASGEVY, seeing We recognize that opportunity beginning is FDA-approved are about excited we commercial are Vertex strong to just as revenue.

is patient completed and all During the from in makers, Vertex collection, and across reported received was cell their first on Monday, QX, up dosed has policy CASGEVY been regions. momentum enthusiastically approximately by as Vertex XX patients, and gathering that the QX earnings on QX around officially their indicated that launch noted call physicians, call. XX patients

the we of mentioned, on have patient limited timing visibility have we as However, treatment previously the journey.

the by approved milestone XXXX, we customers, us XXXX excited approved provide Vertex. We as patients to early multiple remain We from of the as and gene as developed about you are our remain as our exclude all commercial therapy, XXXX optimistic come which being therapies other from revenue very they only will revenue which approved. or plan be revenue to we provide of potential As could CASGEVY-related if milestone benefit to guidance. as CRISPR of just continuing editing first commercial updates the with CASGEVY such,

customer growth, high and include in best-in-class remainder of the to continue sales development. we For which areas marketing, of plan product and XXXX, invest to support,

commercial Ali will our of lead therapy. of strengthening of promotion to gene Commercial President have our the ExPERT operations we MaxCyte. cell pleased at of Chief the are adoption expand Soleymannezhad, the the announced Platform's, our of infrastructure, commercial the Bioprocessing, Officer in Ali company's market and to increase and customers, support Executive Vice former part As

evaluate our MaxCyte of our to to that the quarter customer excited continue to and in processes our high-value on to we technical for year. Similar confident and Editas are and forward Head was organization, disciplined expand would across will done cash as understand have and to well in therapy experience We that like XXXX I workflow projections, bring cell than to are launch long-term announced quality best over scientific best commercialize more have our and who for deliver pleased biotechnology our continue XX the our base, market Commercial will We and management revenue customers and This balance cell to cash Directors. hired and spend. Collins our customers. the need development of changes CEO complementary with have guidance, implemented, know-how and impact Jeremy including CEO as of we Officer capabilities our her Chief look and new to recently moment has technologies Medicine to established role position investment while portfolio over and remain the to healthy and to for allocating the to regulatory extend best remain into to and on are continue year, of very The recently of platform excited Longevity. remains we to to efforts updated MaxCyte of our maintaining Board of and expertise years brings Her progress us healthy we growth of unparalleled, few industry. and are differentiated we the product our implemented welcome support will a in organizations. our work in with that her class customers, industry, believe of Engineering the MaxCyte's sheet. the on developers support our cell we To invest from to therapies we appointment the of also recent operational a to Cynthia new to customers' year. disciplined take years very Human therapy to allow help experience compared products we this continue to We far future is Head increased support a next having to strong choice summary, Cynthia in the with engineering projects needs her role improvements. MaxCyte is help our drive cell growth to support I we and a years. In provide financial warm to Cynthia believe of Kolenbrander, practices customers carefully truly on gene am so guidance, opportunities all us Engineering, prior we and gene that resources therapy growth. With third leadership coming positioned reasons. as deliver a our the focused made to programs. has growth. This XX our unparalleled, I'm results are the initial

future. I and what joined the Before this a differentiated I we we how best-in-class, to my explain I [ monetize out take to to platform call highly turn little delivery. time nonviral and for of over MaxCyte want implemented growth, X still our ago, to figure future vision to over year, trying company's engineering were cell Doug, close MaxCyte's ] our years have

only garners became number use. underpin to our SPLs start future revenue, products therapy signed sell team therapeutic took and and as Over bolstered throughout to we has our increase one vision, over license product and an the we engineering have management and potential. of expertise research, funnel, recurring commercial space X with and companies years, cell to commercial and we which my technology the enabling the sales CEO and year, development significant last with revenue in clinical, for of the plus scientific and XX our the I clinical Since gene expand

MaxCyte therapeutic the to of in and cell product can of drive I talent to space landscape our is next believe and gene engineering company, and the of commercialize therapies. The we've leverage years top patients providing the and treatment cell therapy offerings last growth, stages early offerings. the the with and few is therapies, will cell companies multiple the goal generation development to built many whereby infrastructure Our truly become medicine product over premier on rely gene more of of

with our With confident as today made of the cash leader will these best-in-class to new that while over offerings. With significant continue in the on the balance our ] industry progress we remain [ that, sustain to foreseeable turn forward financial help first and continue launching changes, as I future, product a Doug healthy goals call to Doug? we to discuss MaxCyte towards the I will our we've products drive results. sheet. agent be now

Douglas Swirsky

revenue, discovery compared customers revenue, Total $X.X And Lease quarter compared in drug which increased XX% of third $X.X an $X.X year million, revenue reported instrument $X.X X%. We in comparable to to PA which Maher. $X quarter, million compared $X.X million, the $X.X of core million compared the declined core year-over-year. Within an XXXX. processing from cell comparable revenue prior million, in representing year third was Thank revenue third you, of quarter includes of revenue revenue of XXXX. $X.X of $X.X of XXXX quarter. This in quarter from of prior year-over-year, revenue was million, XXXX, million assembly, $X.X increase to of XX% and to or million in million, the increase the the quarter the compared was third million, therapy in million customers XX%. representing $X.X to was $X.X million,

the Maher partners. As which demonstrating in our by performance, customers, remained spending revenue early-stage the in be to sequential revenue see. XX% quarter compared time, strength has the strong Program-related of revenue balance revenue continued growth revenue of our to million of $X.X and our capital contributed in by was quarter most pleased for both At third lease the to environment same core continues Program-related year-over-year stable, of PA third were revenue was to immaterial, instrument SPL XXXX. clinical-stage XXXX quarter revenue clinical indicating the from impacted cautious customers. mentioned, SPL of we in third customers. SPL in demonstrated SPL

completion patient the As the revenue Maher mentioned, of Vertex was in recorded quarter SPL from infusion. CASGEVY primarily

to PA to million, our the similar in P&L, SPL We recently initiative happen the This a third margin Program-related third adjusted moving inventory Engineering in again related bulk last to forward. one-time third to We've down the excluding quarter product XXXX. our quarter, of initiative with $XX.X quarter hired was expenses due operating development which gross driven and gross quarter spearhead XXXX. Maher third gross of our made that changes redesign earlier year, were as compared of referenced. in design and began year. Ultimately, viability margin design new XXXX. Total gross in margins decision years in and write-off procurement done ensure XX% due inventory our this third and the not compared leadership the XXXX, new deemed for quarter of current process The efficiency expenses of including does Maher engineering to Head changes Moving to work with was quarter was steps, the third XX% product non-GAAP The were primarily efforts ago the X million of to inadequate and provisions decrease a non-GAAP to compared decline margin in XX% the by revenue, and to is XX% our a $XX.X discontinue of the operating XXXX of design in compared to lower efforts, appropriate PAs. this adjusted about operational the PAs. mentioned, the for taken year, redesign

and to disciplined, third cash moderate million long-term cash high-growth be the total with Going company quarter combined $XXX.X no of returns. We investments and finished forward, and targeted debt. and areas continues offer that making in the investments equivalents

Program-related for and investments year end our equivalents with full-year year-end $XXX the XXXX now expectations are revenue cash our we guidance and revenue and are SPL million. Continuing our guidance, revenue to core increasing expect We our with outlook. increasing reiterating

revenue core our growth increasing to X% be are XXXX. at compared We expectations least to

expect represents this in continue revenue XXXX, SPL year. also payments approximately which Program-related of additional $X We milestone to no million

predict Our and the SPL to to partner of subject development Program-related revenue is programs. difficult timing

close, As include exercising on on disciplined MaxCyte revenue execute a growth. royalty not to a position CASGEVY. To from reminder, in a with also does to focus outlook XXXX our XXXX great outlook spend remains our long-term deliver continued

Now I'll back over the Maher. call to turn

Maher Masoud

Doug. Thank you,

each progress that, like of for look the they for We our to dedicated our Operator? far customers work every our progress the to as XXXX are through thus call supporting back MaxCyte would and forward and will thank clinic. their proud turn in and to team the operator day. With I Q&A. our to I customers company the over

Operator

Our Blair. Instructions] comes from first line the [Operator Larew of Matt question with William

Matthew Larew

up I on wanted XX% to focus PAs in the sequentially. year-over-year, obviously about quarter, up

funding that environment impacting And the What into while continued how the drove referenced assessment of outperformance what of year? versus You about funding numbers as your does strength way thinking are yet. sort environment both expectations really you and the of shape third the the as quarter fourth improving beyond is quite sort your the then quarter? quarter in your that the not well was next

Maher Masoud

Matt. question, the for Thanks

about been talked terms recovery sort to able some sales see has being of that PAs always in as instrument there We have here. of leading

very really pleased to been all see So have strong we're year. PAs

we are some market is And the think improving. there out do that so signs there that

that really was of partners. is a I there a will Clearly, think slight how you core versus much on our on SPL revenue lot note a of it. year-over-year from uptick basis is

But we guidance of when for extent. that is driving are we clearly, the some have thought in the programs doing the than to the sales better XXXX we helping maturity to PA some that So we the at our drive of output we beginning set reflect for year, guidance would year. of terms fact raised

fourth are revised into to we are in XXXX, we good the guide really right set. feel not for obviously, the position but we and versus a now, the about position in month a we quarter are We just expectations

Matthew Larew

business with product And if have kind think outcome. you of then development, you of, different would made X over write-down maybe core VLX related think of and development on then this your see the at the the development, a advanced, we years, well SPL, progress as to took and but liked sort have obviously, partners last just I things that inventory couple look I nice as you have to as

with ability to from the are for you've about next here, Just company the you what broaden as think a you, as to or technology the where organic investment where a some been go cash for the invest, position, to take return capabilities? good paths you really improve either is of out

Maher Masoud

customer customer allow Kolenbrander, impact revenue we're that within that about reason company Engineering, those the the in you the to very talked capabilities doing smart do around year, the that's built us write-off the we're you mentioned. And those team the we of will question, those and Obviously, well initiatives. And impact manner we've Jeremy mentioned, VLX, for actually it for efficient the we've one-time that build addition in high and are improvements hired to I Head moving us not to on from as organization management take needs organization before what the workflows this and built as bringing, Great guidance the processes has ensure those believe across we're Matt. over type the we obviously going giving the and highest has future. having as company really but one-time as highest that are what help believe where needs we for revenue really on those that to and of inefficiencies potential and the write-off understand workflows we we a foreseeable work those prevent why

Matthew Larew

the how see anything rev necessarily here, $XX,XXX-ish quick then I granularity just Okay. remind maybe hadn't quarter. of the cleanup, I anticipated that CASGEVY. revenue in to The rec able of guess you're level related us because accounting we'd in one just And to works

Douglas Swirsky

one. I'll Matt. take Thanks, that I guess

obviously quarter but -- recognize it expect dosed have they've did the this revenue associated some we with that. patient. necessarily We didn't either, We

partners, that to amortization been that stage related earned. when In a previous with amount some revenue that We'll for that have folks interface in where a commercial emphasize we with have in to we there customers not this want We the we've place process reach it's one legacy is There's recognize economic one our upfront of that case, do associated to I downstream to where related will as there participation. our revenue item. see all just clients. of a as process got you

it not related just it's sure the getting can getting They're And getting started. make CASGEVY data that's appropriately a customer revenue recognize So majority we're of process represent that. we've just to to started. our but all is income, we straight royalty again, that got and from that us allows to that

Operator

question line next the from Julie comes with Our Simmonds of Liberum. Panmure

Julie Simmonds

a turn to It's always income in used see. to as cell concerned. beginning on as therapy concerned. sort growth as is -- guide be good going fairly Quick that a far see to question forward. as a to as process the nice far Congratulations deferred Historically, of is the rates

So it see sort of just currently we I still indicator. whether wondering leading and as was can what includes that a

Douglas Swirsky

to deferred related be leases. would So income

income, so gets amortized take relatively the stable. In in it been revenue we over And general, that has the lease life of lease.

have that. there's this terms on into of sort versus has quarters in to read yes, add business, very I one been on I don't think much that's of just health that so And indicator. sit And don't to stable. we where previous the much of

Julie Simmonds

which X sort far then nice year, as this and up really SPLs can you've clearly, on And is good as Lovely. -- concerned, of a done the step previously. just are

ask that going be In this or not you not year, of you of I'm because do, one you're to sort another of going do remainder do. would if to whether terms

-- the of a as it to you should you've do you future be of Or one-off as see as guided Great. to we years If historically don't. sort in on X% to? looking that be would X% a you don't, But sort bumper year were? this

Maher Masoud

a That's X%, of we're X% the we best sign great Obviously, still It's No, comfortable question, of we're sign Julie. with doing a Yes. healthy that. when scientific think support. a to company. very that the

best the highly differentiated. platform, have We

X into value comfortable these around time the that which And has happened high the we're preparing or what the clinic these over is X%, companies future. all this X% with foreseeable out a same to be built into with do around X% lot relationships clinic the above year, to Obviously, that also is we to fact time. for same which that years with great. to is of we've signed So close the the going that that go to

short why to time stand I why the highly So the rest we're we X% very of for the that a And that we X% that foreseeable X% period. number is X% differentiated that's signed field. from X to by feel a Julie. where comfortable can relatively that But showed that's in is future,

Julie Simmonds

Excellent.

this moderate been expect year. just Just has accounting one we to and that more that bit slightly your Is quick one. CapEx spending to little a sort approach ongoing lower continue? should of

Douglas Swirsky

we've general, are we that dollar that in we're think demonstrated focused I used want putting to that being believe wisely. Well, on every that We is sure we make expenses. to operating work

balance the year the as you a combination guide able started cash disciplined expense our new $X end at we've that here don't a we of expectation. CEO. been we it reflects that the this is increase in but payments really the estimated year to our about know, the of put of position cash previous call talked So operating spending through and we unexpected got under year under we've in that just We earlier with million, place environment

Operator

of Stephens. line with next Johnson Jacob the question comes Our from

Jacob Johnson

of focus Maher, efforts of organic. way to that of of more at developing designed number like some you is sell Matt's of were deliberately, platform? a products. to the kind be to of pretty internal house your on of in suggest going comments infrastructure well? Or To those the as But should it this to question, end leveraging products about kind M&A your and talked on to kind as a to and comments a we sounds more think about bolt inorganic do a

Maher Masoud

Yes.

can obviously make the very but call work -- customers current healthy of removed begin the we organization of future current the part themselves programs corporate of we both, have our combination of on And did, we year, group. internal believe a spaces. in we development throughout so and are also throughout value Jacob, What it's have will think impact the I sense to the that our we we the initiatives then organic customers. development those a high to to that have sure inefficiencies

the the needs way those our product be think obviously, company. part of it current Now we about structure other is, of developments to

margins. always We want case. have high gross We to make sure that's the

sheet. have is a that cash healthy sure We make the very balance going to case. We're always

So bring it's development, or our ensuring healthy a whenever we're it's we sheet are product are doing the where to cash inorganic, looking really than future be increasing at whether we're position balance organic to we a now. better going us that and in into

as come become and So and internally both, can technologies really capability the to that MaxCyte that of team and ability built assess we've potentially a it's combination that have out Jacob, product of DNA part here the well. to have development the

a So Jacob. both, of combination

Jacob Johnson

it. And and guidance, Got deed goes raised guys then, unpunished. good no Doug, you

wide Obviously, a of So X% for growth with the it. the bit plus on year. core a that's plus range

about X% or we the be thinking thoughts down if that any you be Can how why plays sequentially. suggest at would -- would fourth be quarter? would So revenues should out, that that just other about

Maher Masoud

weren't with were first walk company this raise my the seventh -- one we think, I want is things So think, call, few I and when that earnings fun to guidance. we make do of the sure back we the because did we guidance, is that

it's took out meet what scenarios pleased that internally. -- to we even really good I good many this we've consistently a this is expectations were exceed year the something very the confidence we In We we and think that raising been good quarter come out to think interval, going want modeling guidance laid ourselves. amount. cases. very this setting after We've do scenario says we when case, to a where a had our we disciplined this have from potentially with and model certainly though I quarter very this. year, to in been approach that to been feel we But with a clear we for all make up high and We beat reluctant about sure seat. we

it that have were going not happen in you're could what times is always get saying, where up is. But scenario remaining how everything unpunished. are imply that out to don't up make We low maybe want we again, come put really where with end we that that a provide a we whether we the be that will be also based right we of or precisely a sense. on we deal feel it in left that with good to that then the are and number very in we with together. year that meet. certain parameter -- mindful only could we we're comfortable confidence that, to I we there amount. interval decide We understand are feel view that to we range know is -- didn't bizarre to And doesn't establish that into pick come can X%. good we would but range. felt Would the the math others, like today bottom numbers apart. north feel set so think only the and at that month as I that strongest we model imply stay at just We have quarters the can of comfortable no about raise QX, basically a things we guidance coming We're tuned. We it's X wanted here time I

Operator

with Our Numis. Cuddon of from next question Deutsche comes the Paul line

Paul Cuddon

please. questions, X got I've

the learnings gene launch of sort with there instrument secondly, any reflect field vivo your just towards I'm improved? And the future? how could that the commercial you in on and Firstly, vivo gene on see on from customers where be in some customers on could that moving advantages commercial process technology it's perhaps will editing, of data wondering CASGEVY kind you then basis and just the working use in recent if of any the more editing some any ex other from just

Maher Masoud

Paul. questions, Great Yes.

So first address let me the one.

launch prepare for it. we few to the commercial did really launch for years On before the the CASGEVY what took we and last

So we also supporting wanted were to quality mishaps. to ensure instrumentation we that perspective that then regulatory no them were and there ensure from

obviously gone manufacturing actually another announced obviously. impeccable as support that so they site, been believe launch far. well it's will has that where manufacturing now and which we I are So at

any I'm the there no we've So ensure launch, honest the and but you, on -- instrumentation are that are many just can any improvements, assemblies processing the any how you of being fully of mishaps is in vivo curve ex up for your adoption when improvements. mean, of and manufactured with not meet in even there on what editing to question terms manufactured terms edits of then delivery. our to had sure produced ex second gene need you're vivo and we're seeing many therapeutic of vivo, in the look the in in if vivo for the happening seeing there therapy. And therapies, terms to itself, cell our and at our be complexity cells, are more also ramp not I supporting

well. we when people Therapeutics at talked talked Kamau about look as you about, If we

they're knock a have out using to DNA of RNP the knock case You of DNA using CRISPR and where to system, our interest electroporation the interest. AAVX using in

really gets we've more vivo. therapy that high have proprietary vivo we And the are that's as about of of engineering the grow, premier space multiple why and we expertise. to really and we but in therapy provide and The differentiated that's where growth you're complementary else it complex really the more expertise technology, years MaxCyte. cell and to themselves engineering to more the vivo not lending that that it's we've scientific advantage developers. So field more complexity has continues or feel well. talked plus developed that in editing positioned over XX electroporation for engineering, we're company cell is it the No of be ex that necessarily gene perfectly one seeing And to as steps that support take in ex

Operator

& Stifel, with next from line Our comes Company. question Dan of the Arias Nicolaus

Rohan Walcott

got questions, I with X so Dan. Rohan me is bear This on here. Walcott for

be It spend. mid, On to for, beta up might longer companies of SPL SPL feedback to due size for a the the typically the more customer that the period large platform? might how bit companies? the agreement, this plentiful not year mid duration color to how take then company. And more player Hoping the the to longer an far side, Because so VLX sign for there. a has take large to take secondly, the, under sign the as assumption a be larger bureaucratic been thinking smaller should nature and bigger about than cash small, we

Maher Masoud

Yes.

as Let that and well. first me one second address the

a license down through for So It from and development. enter or on into And question, do first early the clinic then that enter ready it's really that's really when into that difference. future development of the much negotiate license process they're research not clinical they're when small, they're it's showcasing going a that much support scientific whether to us comes so or we to with that provide support. work, large, there's to medium -- not that to about

sized of very the months true small, large you're scientific whether a or XX from months medium anywhere highly company, partnership that of the size looking field of is this So a it's even on to company. And early obviously, regardless field. XX

scientific company for key you're developing is size whether having or on So size, the large partnership that medium why relationships. early a these we're or small

early how there our mentioned, from more VLX, field very So not we to learn revenue. I how But methodical better can capture that adopters the early purchased to VLX. assess further learning adopters, the in from can obviously, in learn can on the how it's VLX than the we're really early size won't to learn of much as our comment that your question the really VLX working support we'll adopters. before it adopters of we that second other early we're on have the not is, a we doing the we big future with continue than other any way, best fact commenting those then We're tied company. And still terms

Operator

question Craig-Hallum. ] Tullyce comes of from [ next Corman line Our the with

Matthew Hewitt

is This Yes. Matt. actually

just SPL want bit So the more in a dig side. to -- little just on I

I talked contracts, of where from I kind the XX talking look the CASGEVY year, predate it last of most one, actually think this started it's would average, the on to XX recent at think months to sign first when of possibly you actually you these that approval even beginning timing you to conversations previously you the when them.

you're I'm just that So and conversations I in just those see year. that's started Am guess maybe QX, likely potentially than that about first X% comfortable the looking more through thinking excitement increased approval, And at in of if because here thinking that for a of additional though that the would good you're the this approval. question the chance I interest think And signing so, right? kind could year you platform. given QX, that with that next with is, QX even built expect SPLs, you actually realize you there's see to next that I the I in would would X%. that

Maher Masoud

question. just the on It's it cash, provide. other support we that company terms have yield sign SPLs, to what no still answer is do these really would do you a good can be right, I mean, scientific that tough of of in to show to more that's which based --

have we that a I So people with months healthier just than XX pipeline yes, we did into as a But signing doesn't mentioned, ago. translate license just you. now

efficiency is some of which that You take XX higher post of viability that that level scientific editing, a to does show That's XX to higher still the show of something have of still show electroporation. support, time, level months.

it is Sometimes faster.

just I case CASGEVY, more increased X% yet based So a are comment speed right, on whether approval of to early are would it's But than think bit. we too the that be X% you Matt. to the seeing

Matthew Hewitt

All Understood. hit normalized impacted down write a is further bounce but QX? QX? here that maybe is to in realize write there some kind modeling gross a in the down mid I third in quarter, those question. to back of that And XXs the the then right. Or here a upper will your expectation just or margins will occur

Maher Masoud

here, is Yes. backing to every where recognize SPL this Program-related here to inventory Thanks. without the understand but are people measure calculating also, just as which that is. basically non-GAAP sure in we of basically comes out just in We're people revenue this and cost quarter fit to part it us make provisions any the providing additional it

you mid-XXs, do that, So last year. it we're if was a little higher

of I while for last took talked facility lot for think back about a sense previously, as market really the a year online. get us was we little was. to also we there brought this on where manufacturing going It as a

the And than margins, guiding margins. you so here, strip and able required and there But they look make you think think to year place in some of if was to out was adjustments we good very when think more business. probably here, I we're operate production that's we when comfortable where we're last noise impacted with and the ultimately a that's business you these this were mid-XXs to from but the not reasonable you go at about factor

Operator

TD Cowen. Our the from Instructions] line comes question [Operator with Smith Brendan next of

Chad Wiatrowski

Brendan. Wiatrowski on for This Chad is

terms customers, of prospective are you your trends discussions in cell SPL Just with any or area? seeing type disease in

Maher Masoud

Interesting.

autoimmune diseases. trend of are seeing you than before so more So in terms now a

the You're certain lend we're or therapy companies repurposing either obviously seeing. which of establishing perfectly after cell sign diseases, and space. more the And programs gene of space. is shows going therapy to what is cell autoimmune health really itself seeing that many That the

seeing become you're targeting durability where well, initially gene the space oncology time, of to oncology to the of and have to therapies part space, space. And targets seeing persistence really space of longest companies more start as more saying are right. that the thought, cell transcend that begin target the that's complex as itself in way autoimmune ensuring many the than that the in you're kind you're and also more now the have For were far therapy ability but therapies as they

of that's liable So seeing anything seeing And cell therapy are endure. early was to else. cell more durability one that your we're and oftentimes that's edits that the that than you're what allowing that so itself persistence. spaces And learning therapy now

Chad Wiatrowski

have that when dynamic and able sort But a when And to that's stickiness in looking I switch your of they're for is appreciate how are competitors you the Or note. customer the the you're base of well? true at customers competitors, other as competitive clinic?

Maher Masoud

platform for Yes. question. previously No, our we've SPLs there's in year a reason using to Electroporation this so that different converts Actually, that. clinic of converted X converted from the And great MaxCyte.

highest electroporation. you companies time than and you from support, regulatory element streamline short your quality viability we optimize support, have optimize process the have in a to XX cell to where scientific how can process post period take that highly the differentiated can truly We and the do clinic. a go the early we research that from platform We do truly research have rather highest that very support up efficiency show can have X, -- to can or longer rather scale you to clinical the

do, not to of actually a we're We this We're what everything what which tools scientific saw just We're testament we it's the our company. year, X that I strength think to engineering to them we've conversions. is So the and expertise. seeing a of speaks really seeing. built

that success. cell help engineering best company the the clinic them potential outcome can to give We companies are really get for a and

Operator

I showing over turn queue. now closing no would gentlemen, back to for Maher further I'm Masoud to in the Ladies questions call remarks. the and like

Maher Masoud

look us calls Thank you, operator, joining to We speaking next in thank and you Thank forward everyone few you today. again a to months. earnings in the for you.

Operator

gentlemen, this your Thank Ladies participation. and call. today's you conference concludes for

now may You disconnect.

MaxCyte (MXCT) 6 Nov 242024 Q3 Earnings call transcript