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Side-by-side financial comparison of ICON PLC (ICLR) and MAXCYTE, INC. (MXCT). Click either name above to swap in a different company.
ICON PLC is the larger business by last-quarter revenue ($2.0B vs $4.8M, roughly 426.7× MAXCYTE, INC.). ICON PLC runs the higher net margin — 0.1% vs -200.5%, a 200.6% gap on every dollar of revenue. On growth, ICON PLC posted the faster year-over-year revenue change (0.6% vs -20.9%). ICON PLC produced more free cash flow last quarter ($333.9M vs $-2.9M). Over the past eight quarters, ICON PLC's revenue compounded faster (0.6% CAGR vs -7.4%).
ICON plc is an Irish headquartered multinational healthcare intelligence and clinical research organisation. As of February 2025 had approximately 41,900 employees in 55 countries.
MaxCyte Inc. is a global biotechnology company focused on developing cell engineering platforms and enabling technologies for cell and gene therapy advancement. Its proprietary non-viral cell modification systems are widely used by pharmaceutical, biotech and life science research entities to develop immunotherapies, gene-edited treatments and next-generation biologic drugs from preclinical research through commercialization.
ICLR vs MXCT — Head-to-Head
Income Statement — Q3 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $4.8M |
| Net Profit | $2.4M | $-9.6M |
| Gross Margin | — | — |
| Operating Margin | 4.2% | -234.5% |
| Net Margin | 0.1% | -200.5% |
| Revenue YoY | 0.6% | -20.9% |
| Net Profit YoY | -98.8% | 9.4% |
| EPS (diluted) | $0.03 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $4.8M | ||
| Q3 25 | $2.0B | $4.6M | ||
| Q2 25 | $2.0B | $5.8M | ||
| Q1 25 | $2.0B | $5.7M | ||
| Q4 24 | — | $6.1M | ||
| Q3 24 | $2.0B | $5.6M | ||
| Q2 24 | $2.1B | $5.0M | ||
| Q1 24 | $2.1B | $5.6M |
| Q4 25 | — | $-9.6M | ||
| Q3 25 | $2.4M | $-12.4M | ||
| Q2 25 | $183.0M | $-12.4M | ||
| Q1 25 | $154.2M | $-10.3M | ||
| Q4 24 | — | $-10.6M | ||
| Q3 24 | $197.1M | $-11.6M | ||
| Q2 24 | $146.9M | $-9.4M | ||
| Q1 24 | $187.4M | $-9.5M |
| Q4 25 | — | -234.5% | ||
| Q3 25 | 4.2% | -307.4% | ||
| Q2 25 | 10.4% | -244.3% | ||
| Q1 25 | 11.0% | -214.1% | ||
| Q4 24 | — | -213.1% | ||
| Q3 24 | 14.1% | -250.4% | ||
| Q2 24 | 10.8% | -241.0% | ||
| Q1 24 | 13.7% | -219.8% |
| Q4 25 | — | -200.5% | ||
| Q3 25 | 0.1% | -269.7% | ||
| Q2 25 | 9.1% | -212.2% | ||
| Q1 25 | 7.7% | -178.7% | ||
| Q4 24 | — | -175.0% | ||
| Q3 24 | 9.7% | -205.9% | ||
| Q2 24 | 6.9% | -188.8% | ||
| Q1 24 | 9.0% | -170.6% |
| Q4 25 | — | — | ||
| Q3 25 | $0.03 | $-0.12 | ||
| Q2 25 | $2.30 | $-0.12 | ||
| Q1 25 | $1.90 | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $2.36 | $-0.11 | ||
| Q2 24 | $1.76 | $-0.09 | ||
| Q1 24 | $2.25 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $468.9M | $103.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $9.3B | $171.5M |
| Total Assets | $16.5B | $202.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $103.0M | ||
| Q3 25 | $468.9M | $105.7M | ||
| Q2 25 | $390.4M | $126.6M | ||
| Q1 25 | $526.7M | $138.3M | ||
| Q4 24 | — | $154.5M | ||
| Q3 24 | $695.5M | $153.8M | ||
| Q2 24 | $506.6M | $157.3M | ||
| Q1 24 | $396.1M | $157.5M |
| Q4 25 | — | $171.5M | ||
| Q3 25 | $9.3B | $180.3M | ||
| Q2 25 | $9.6B | $190.7M | ||
| Q1 25 | $9.5B | $199.4M | ||
| Q4 24 | — | $206.3M | ||
| Q3 24 | $9.8B | $213.3M | ||
| Q2 24 | $9.6B | $221.3M | ||
| Q1 24 | $9.4B | $226.4M |
| Q4 25 | — | $202.5M | ||
| Q3 25 | $16.5B | $213.5M | ||
| Q2 25 | $16.6B | $219.8M | ||
| Q1 25 | $16.7B | $230.0M | ||
| Q4 24 | — | $239.5M | ||
| Q3 24 | $17.2B | $248.6M | ||
| Q2 24 | $17.0B | $251.5M | ||
| Q1 24 | $17.0B | $257.9M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $387.6M | $-2.7M |
| Free Cash FlowOCF − Capex | $333.9M | $-2.9M |
| FCF MarginFCF / Revenue | 16.3% | -61.0% |
| Capex IntensityCapex / Revenue | 2.6% | 4.8% |
| Cash ConversionOCF / Net Profit | 164.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $-36.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-2.7M | ||
| Q3 25 | $387.6M | $-7.5M | ||
| Q2 25 | $146.2M | $-9.9M | ||
| Q1 25 | $268.2M | $-14.4M | ||
| Q4 24 | — | $-7.8M | ||
| Q3 24 | $402.7M | $-4.4M | ||
| Q2 24 | $218.6M | $-4.8M | ||
| Q1 24 | $327.1M | $-10.6M |
| Q4 25 | — | $-2.9M | ||
| Q3 25 | $333.9M | $-7.8M | ||
| Q2 25 | $113.9M | $-10.4M | ||
| Q1 25 | $239.3M | $-15.1M | ||
| Q4 24 | — | $-8.0M | ||
| Q3 24 | $359.3M | $-4.8M | ||
| Q2 24 | $182.3M | $-5.1M | ||
| Q1 24 | $299.9M | $-11.4M |
| Q4 25 | — | -61.0% | ||
| Q3 25 | 16.3% | -168.5% | ||
| Q2 25 | 5.6% | -179.2% | ||
| Q1 25 | 12.0% | -262.3% | ||
| Q4 24 | — | -131.6% | ||
| Q3 24 | 17.7% | -85.5% | ||
| Q2 24 | 8.6% | -103.3% | ||
| Q1 24 | 14.3% | -203.6% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | 2.6% | 6.5% | ||
| Q2 25 | 1.6% | 10.0% | ||
| Q1 25 | 1.4% | 11.4% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | 2.1% | 7.2% | ||
| Q2 24 | 1.7% | 5.9% | ||
| Q1 24 | 1.3% | 14.4% |
| Q4 25 | — | — | ||
| Q3 25 | 164.59× | — | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | 1.74× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.04× | — | ||
| Q2 24 | 1.49× | — | ||
| Q1 24 | 1.74× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ICLR
| Other Customers | $681.3M | 33% |
| Clients1125 | $549.4M | 27% |
| Clients15 | $503.3M | 25% |
| Clients610 | $308.8M | 15% |
MXCT
Segment breakdown not available.
