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Side-by-side financial comparison of MAXCYTE, INC. (MXCT) and SWK Holdings Corp (SWKH). Click either name above to swap in a different company.
SWK Holdings Corp is the larger business by last-quarter revenue ($8.7M vs $4.8M, roughly 1.8× MAXCYTE, INC.). On growth, MAXCYTE, INC. posted the faster year-over-year revenue change (-20.9% vs -29.7%). SWK Holdings Corp produced more free cash flow last quarter ($26.8M vs $-2.9M). Over the past eight quarters, MAXCYTE, INC.'s revenue compounded faster (-7.4% CAGR vs -12.5%).
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.
SWK Holdings Corp is a specialty finance firm focused on the healthcare and life sciences sectors. It provides tailored financing solutions including royalty monetization, structured debt, and asset-backed lending to biotech, pharmaceutical, medical device and diagnostic companies, with its core market centered in North America.
MXCT vs SWKH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.8M | $8.7M |
| Net Profit | $-9.6M | $-19.4M |
| Gross Margin | — | — |
| Operating Margin | -234.5% | 9.9% |
| Net Margin | -200.5% | — |
| Revenue YoY | -20.9% | -29.7% |
| Net Profit YoY | 9.4% | -430.2% |
| EPS (diluted) | — | $-1.59 |
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 | $8.7M | ||
| Q3 25 | $4.6M | $10.9M | ||
| Q2 25 | $5.8M | $10.1M | ||
| Q1 25 | $5.7M | $11.8M | ||
| Q4 24 | $6.1M | $12.4M | ||
| Q3 24 | $5.6M | $10.4M | ||
| Q2 24 | $5.0M | $10.8M | ||
| Q1 24 | $5.6M | $11.4M |
| Q4 25 | $-9.6M | $-19.4M | ||
| Q3 25 | $-12.4M | $8.8M | ||
| Q2 25 | $-12.4M | $3.5M | ||
| Q1 25 | $-10.3M | $4.5M | ||
| Q4 24 | $-10.6M | $5.9M | ||
| Q3 24 | $-11.6M | $3.5M | ||
| Q2 24 | $-9.4M | $3.7M | ||
| Q1 24 | $-9.5M | $468.0K |
| Q4 25 | -234.5% | 9.9% | ||
| Q3 25 | -307.4% | 61.3% | ||
| Q2 25 | -244.3% | 46.1% | ||
| Q1 25 | -214.1% | 68.6% | ||
| Q4 24 | -213.1% | 44.7% | ||
| Q3 24 | -250.4% | 39.2% | ||
| Q2 24 | -241.0% | 8.3% | ||
| Q1 24 | -219.8% | 9.5% |
| Q4 25 | -200.5% | — | ||
| Q3 25 | -269.7% | 80.7% | ||
| Q2 25 | -212.2% | 35.2% | ||
| Q1 25 | -178.7% | 38.4% | ||
| Q4 24 | -175.0% | 47.5% | ||
| Q3 24 | -205.9% | 33.3% | ||
| Q2 24 | -188.8% | 33.9% | ||
| Q1 24 | -170.6% | 4.1% |
| Q4 25 | — | $-1.59 | ||
| Q3 25 | $-0.12 | $0.72 | ||
| Q2 25 | $-0.12 | $0.29 | ||
| Q1 25 | — | $0.37 | ||
| Q4 24 | — | $0.47 | ||
| Q3 24 | $-0.11 | $0.28 | ||
| Q2 24 | $-0.09 | $0.30 | ||
| Q1 24 | — | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $103.0M | $42.8M |
| Total DebtLower is stronger | — | $33.0M |
| Stockholders' EquityBook value | $171.5M | $235.1M |
| Total Assets | $202.5M | $272.4M |
| Debt / EquityLower = less leverage | — | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $103.0M | $42.8M | ||
| Q3 25 | $105.7M | $10.2M | ||
| Q2 25 | $126.6M | $8.0M | ||
| Q1 25 | $138.3M | $29.8M | ||
| Q4 24 | $154.5M | $5.9M | ||
| Q3 24 | $153.8M | $17.2M | ||
| Q2 24 | $157.3M | $5.5M | ||
| Q1 24 | $157.5M | $5.5M |
| Q4 25 | — | $33.0M | ||
| Q3 25 | — | $33.0M | ||
| Q2 25 | — | $33.0M | ||
| Q1 25 | — | $33.0M | ||
| Q4 24 | — | $33.0M | ||
| Q3 24 | — | $33.0M | ||
| Q2 24 | — | $33.0M | ||
| Q1 24 | — | $33.0M |
| Q4 25 | $171.5M | $235.1M | ||
| Q3 25 | $180.3M | $254.2M | ||
| Q2 25 | $190.7M | $246.5M | ||
| Q1 25 | $199.4M | $292.7M | ||
| Q4 24 | $206.3M | $288.7M | ||
| Q3 24 | $213.3M | $283.4M | ||
| Q2 24 | $221.3M | $282.8M | ||
| Q1 24 | $226.4M | $279.9M |
| Q4 25 | $202.5M | $272.4M | ||
| Q3 25 | $213.5M | $289.4M | ||
| Q2 25 | $219.8M | $285.7M | ||
| Q1 25 | $230.0M | $331.3M | ||
| Q4 24 | $239.5M | $332.2M | ||
| Q3 24 | $248.6M | $321.3M | ||
| Q2 24 | $251.5M | $321.0M | ||
| Q1 24 | $257.9M | $322.0M |
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | 0.13× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.11× | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.12× |
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 | $-2.7M | $27.3M |
| Free Cash FlowOCF − Capex | $-2.9M | $26.8M |
| FCF MarginFCF / Revenue | -61.0% | 308.1% |
| Capex IntensityCapex / Revenue | 4.8% | 5.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-36.2M | $43.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.7M | $27.3M | ||
| Q3 25 | $-7.5M | $906.0K | ||
| Q2 25 | $-9.9M | $7.8M | ||
| Q1 25 | $-14.4M | $8.3M | ||
| Q4 24 | $-7.8M | $23.0M | ||
| Q3 24 | $-4.4M | $6.3M | ||
| Q2 24 | $-4.8M | $5.4M | ||
| Q1 24 | $-10.6M | $4.4M |
| Q4 25 | $-2.9M | $26.8M | ||
| Q3 25 | $-7.8M | $557.0K | ||
| Q2 25 | $-10.4M | $7.7M | ||
| Q1 25 | $-15.1M | $8.2M | ||
| Q4 24 | $-8.0M | $22.9M | ||
| Q3 24 | $-4.8M | $6.3M | ||
| Q2 24 | $-5.1M | $5.4M | ||
| Q1 24 | $-11.4M | — |
| Q4 25 | -61.0% | 308.1% | ||
| Q3 25 | -168.5% | 5.1% | ||
| Q2 25 | -179.2% | 77.0% | ||
| Q1 25 | -262.3% | 69.1% | ||
| Q4 24 | -131.6% | 185.3% | ||
| Q3 24 | -85.5% | 60.4% | ||
| Q2 24 | -103.3% | 49.7% | ||
| Q1 24 | -203.6% | — |
| Q4 25 | 4.8% | 5.9% | ||
| Q3 25 | 6.5% | 3.2% | ||
| Q2 25 | 10.0% | 0.6% | ||
| Q1 25 | 11.4% | 0.8% | ||
| Q4 24 | 2.4% | 1.1% | ||
| Q3 24 | 7.2% | 0.3% | ||
| Q2 24 | 5.9% | 0.2% | ||
| Q1 24 | 14.4% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.10× | ||
| Q2 25 | — | 2.21× | ||
| Q1 25 | — | 1.82× | ||
| Q4 24 | — | 3.93× | ||
| Q3 24 | — | 1.82× | ||
| Q2 24 | — | 1.47× | ||
| Q1 24 | — | 9.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MXCT
| Products | $4.2M | 87% |
| Other | $634.0K | 13% |
SWKH
| Finance Receivables Segment | $8.4M | 96% |
| Other | $329.0K | 4% |
