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Side-by-side financial comparison of MAXCYTE, INC. (MXCT) and TECOGEN INC. (TGEN). Click either name above to swap in a different company.
TECOGEN INC. is the larger business by last-quarter revenue ($5.3M vs $4.8M, roughly 1.1× MAXCYTE, INC.). TECOGEN INC. runs the higher net margin — -75.1% vs -200.5%, a 125.4% gap on every dollar of revenue. On growth, TECOGEN INC. posted the faster year-over-year revenue change (-12.5% vs -20.9%). TECOGEN INC. produced more free cash flow last quarter ($-2.6M vs $-2.9M). Over the past eight quarters, TECOGEN INC.'s revenue compounded faster (-7.3% CAGR vs -7.4%).
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.
MXCT vs TGEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.8M | $5.3M |
| Net Profit | $-9.6M | $-4.0M |
| Gross Margin | — | 36.8% |
| Operating Margin | -234.5% | -77.8% |
| Net Margin | -200.5% | -75.1% |
| Revenue YoY | -20.9% | -12.5% |
| Net Profit YoY | 9.4% | -236.7% |
| EPS (diluted) | — | $-0.14 |
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 | $5.3M | ||
| Q3 25 | $4.6M | $7.2M | ||
| Q2 25 | $5.8M | $7.3M | ||
| Q1 25 | $5.7M | $7.3M | ||
| Q4 24 | $6.1M | $6.1M | ||
| Q3 24 | $5.6M | $5.6M | ||
| Q2 24 | $5.0M | $4.7M | ||
| Q1 24 | $5.6M | $6.2M |
| Q4 25 | $-9.6M | $-4.0M | ||
| Q3 25 | $-12.4M | $-2.1M | ||
| Q2 25 | $-12.4M | $-1.5M | ||
| Q1 25 | $-10.3M | $-659.9K | ||
| Q4 24 | $-10.6M | $-1.2M | ||
| Q3 24 | $-11.6M | $-930.4K | ||
| Q2 24 | $-9.4M | $-1.5M | ||
| Q1 24 | $-9.5M | $-1.1M |
| Q4 25 | — | 36.8% | ||
| Q3 25 | — | 30.4% | ||
| Q2 25 | — | 33.8% | ||
| Q1 25 | — | 44.3% | ||
| Q4 24 | — | 45.0% | ||
| Q3 24 | — | 44.1% | ||
| Q2 24 | — | 44.0% | ||
| Q1 24 | — | 41.6% |
| Q4 25 | -234.5% | -77.8% | ||
| Q3 25 | -307.4% | -29.2% | ||
| Q2 25 | -244.3% | -19.4% | ||
| Q1 25 | -214.1% | -8.2% | ||
| Q4 24 | -213.1% | -18.7% | ||
| Q3 24 | -250.4% | -15.5% | ||
| Q2 24 | -241.0% | -31.2% | ||
| Q1 24 | -219.8% | -17.0% |
| Q4 25 | -200.5% | -75.1% | ||
| Q3 25 | -269.7% | -29.7% | ||
| Q2 25 | -212.2% | -20.1% | ||
| Q1 25 | -178.7% | -9.1% | ||
| Q4 24 | -175.0% | -19.5% | ||
| Q3 24 | -205.9% | -16.5% | ||
| Q2 24 | -188.8% | -32.5% | ||
| Q1 24 | -170.6% | -17.9% |
| Q4 25 | — | $-0.14 | ||
| Q3 25 | $-0.12 | $-0.07 | ||
| Q2 25 | $-0.12 | $-0.06 | ||
| Q1 25 | — | $-0.03 | ||
| Q4 24 | — | $-0.05 | ||
| Q3 24 | $-0.11 | $-0.04 | ||
| Q2 24 | $-0.09 | $-0.06 | ||
| 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 | $12.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $171.5M | $21.6M |
| Total Assets | $202.5M | $37.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $103.0M | $12.4M | ||
| Q3 25 | $105.7M | $15.3M | ||
| Q2 25 | $126.6M | $1.6M | ||
| Q1 25 | $138.3M | $4.1M | ||
| Q4 24 | $154.5M | $5.4M | ||
| Q3 24 | $153.8M | $1.3M | ||
| Q2 24 | $157.3M | $841.9K | ||
| Q1 24 | $157.5M | $1.5M |
| Q4 25 | $171.5M | $21.6M | ||
| Q3 25 | $180.3M | $25.5M | ||
| Q2 25 | $190.7M | $9.1M | ||
| Q1 25 | $199.4M | $9.6M | ||
| Q4 24 | $206.3M | $10.2M | ||
| Q3 24 | $213.3M | $11.3M | ||
| Q2 24 | $221.3M | $12.2M | ||
| Q1 24 | $226.4M | $13.7M |
| Q4 25 | $202.5M | $37.0M | ||
| Q3 25 | $213.5M | $41.5M | ||
| Q2 25 | $219.8M | $28.4M | ||
| Q1 25 | $230.0M | $29.7M | ||
| Q4 24 | $239.5M | $31.1M | ||
| Q3 24 | $248.6M | $27.5M | ||
| Q2 24 | $251.5M | $27.2M | ||
| Q1 24 | $257.9M | $28.5M |
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 | $-2.6M |
| Free Cash FlowOCF − Capex | $-2.9M | $-2.6M |
| FCF MarginFCF / Revenue | -61.0% | -49.3% |
| Capex IntensityCapex / Revenue | 4.8% | 0.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-36.2M | $-10.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.7M | $-2.6M | ||
| Q3 25 | $-7.5M | $-3.6M | ||
| Q2 25 | $-9.9M | $-2.6M | ||
| Q1 25 | $-14.4M | $-1.2M | ||
| Q4 24 | $-7.8M | $4.2M | ||
| Q3 24 | $-4.4M | $-207.3K | ||
| Q2 24 | $-4.8M | $-157.9K | ||
| Q1 24 | $-10.6M | $248.2K |
| Q4 25 | $-2.9M | $-2.6M | ||
| Q3 25 | $-7.8M | $-3.6M | ||
| Q2 25 | $-10.4M | $-2.7M | ||
| Q1 25 | $-15.1M | $-1.3M | ||
| Q4 24 | $-8.0M | $4.0M | ||
| Q3 24 | $-4.8M | $-489.6K | ||
| Q2 24 | $-5.1M | $-609.6K | ||
| Q1 24 | $-11.4M | $143.3K |
| Q4 25 | -61.0% | -49.3% | ||
| Q3 25 | -168.5% | -50.6% | ||
| Q2 25 | -179.2% | -37.7% | ||
| Q1 25 | -262.3% | -17.9% | ||
| Q4 24 | -131.6% | 66.6% | ||
| Q3 24 | -85.5% | -8.7% | ||
| Q2 24 | -103.3% | -12.9% | ||
| Q1 24 | -203.6% | 2.3% |
| Q4 25 | 4.8% | 0.9% | ||
| Q3 25 | 6.5% | 1.0% | ||
| Q2 25 | 10.0% | 2.0% | ||
| Q1 25 | 11.4% | 1.8% | ||
| Q4 24 | 2.4% | 2.1% | ||
| Q3 24 | 7.2% | 5.0% | ||
| Q2 24 | 5.9% | 9.6% | ||
| Q1 24 | 14.4% | 1.7% |
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% |
TGEN
| Installation Services | $4.5M | 84% |
| Products Segment | $460.5K | 9% |
| Other | $394.7K | 7% |
