How do MAXCYTE, INC. and Energous Corp compare by revenue?

MAXCYTE, INC. reported revenue of $4.8M in Q4 FY2025, while Energous Corp reported $3.0M in Q4 FY2025. MAXCYTE, INC. is 1.6× larger by last-quarter revenue.

Which is growing revenue faster, MAXCYTE, INC. or Energous Corp?

MAXCYTE, INC.'s latest revenue grew -20.9% year-over-year, versus 610.3% for Energous Corp. Energous Corp is growing faster on a YoY basis.

Which has a higher net margin, MAXCYTE, INC. or Energous Corp?

MAXCYTE, INC.'s net margin is -200.5% vs Energous Corp's -43.6%. Energous Corp has the higher bottom-line margin.

Which generates more free cash flow, MAXCYTE, INC. or Energous Corp?

MAXCYTE, INC. generated $-2.9M of free cash flow last quarter, versus $-2.4M for Energous Corp. Free cash flow is operating cash flow minus capital expenditure — what's actually left for dividends, buybacks and debt repayment.

What is the 2-year revenue CAGR for MAXCYTE, INC. vs Energous Corp?

Over the trailing 8 quarters, MAXCYTE, INC. compounded revenue at roughly -7.4% per year, versus 589.2% for Energous Corp. Energous Corp has the faster medium-term growth trajectory.

Where does this MXCT vs WATT data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of MAXCYTE, INC. (MXCT) and Energous Corp (WATT). Click either name above to swap in a different company.

MAXCYTE, INC. is the larger business by last-quarter revenue ($4.8M vs $3.0M, roughly 1.6× Energous Corp). Energous Corp runs the higher net margin — -43.6% vs -200.5%, a 156.8% gap on every dollar of revenue. On growth, Energous Corp posted the faster year-over-year revenue change (610.3% vs -20.9%). Energous Corp produced more free cash flow last quarter ($-2.4M vs $-2.9M). Over the past eight quarters, Energous Corp's revenue compounded faster (589.2% CAGR vs -7.4%).

MAXCYTE, INC.MXCTEarnings & Financial Report

Nasdaq · Industrials · Services-Commercial Physical & Biological Research

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.

Energous CorpWATTEarnings & Financial Report

Nasdaq · Information Technology · Radio & Tv Broadcasting & Communications Equipment

Energous Corporation develops, manufactures and licenses patented radio frequency-based over-the-air wireless charging technologies and solutions. Its offerings cater to consumer electronics, wearables, IoT sensors, industrial and healthcare hardware segments, serving global hardware manufacturing clients across major regions worldwide.

MXCT vs WATT — Head-to-Head

Bigger by revenue

MXCT

1.6× larger

$4.8M

$3.0M

Growing faster (revenue YoY)

WATT

+631.2% gap

610.3%

-20.9%

Higher net margin

WATT

156.8% more per $

-43.6%

-200.5%

More free cash flow

WATT

$473.0K more FCF

$-2.4M

$-2.9M

Faster 2-yr revenue CAGR

WATT

Annualised

589.2%

-7.4%

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric	MXCT	WATT
Revenue	$4.8M	$3.0M
Net Profit	$-9.6M	$-1.3M
Gross Margin	—	37.5%
Operating Margin	-234.5%	-47.1%
Net Margin	-200.5%	-43.6%
Revenue YoY	-20.9%	610.3%
Net Profit YoY	9.4%	67.9%
EPS (diluted)	—	$-4.95

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.

Revenue

MXCT

WATT

Q4 25	$4.8M	$3.0M
Q3 25	$4.6M	$1.3M
Q2 25	$5.8M	$975.0K
Q1 25	$5.7M	$343.0K
Q4 24	$6.1M	$428.0K
Q3 24	$5.6M	$230.0K
Q2 24	$5.0M	$46.0K
Q1 24	$5.6M	$64.0K

Net Profit

MXCT

WATT

Q4 25	$-9.6M	$-1.3M
Q3 25	$-12.4M	$-2.1M
Q2 25	$-12.4M	$-2.8M
Q1 25	$-10.3M	$-3.4M
Q4 24	$-10.6M	$-4.1M
Q3 24	$-11.6M	$-3.4M
Q2 24	$-9.4M	$-4.3M
Q1 24	$-9.5M	$-6.6M

Gross Margin

MXCT

WATT

Q4 25	—	37.5%
Q3 25	—	36.0%
Q2 25	—	34.7%
Q1 25	—	27.1%
Q4 24	—	48.8%
Q3 24	—	—
Q2 24	—	—
Q1 24	—	—

Operating Margin

MXCT

WATT

Q4 25	-234.5%	-47.1%
Q3 25	-307.4%	-172.2%
Q2 25	-244.3%	-285.1%
Q1 25	-214.1%	-1052.8%
Q4 24	-213.1%	-820.8%
Q3 24	-250.4%	-1557.0%
Q2 24	-241.0%	-10110.9%
Q1 24	-219.8%	-10414.1%

Net Margin

MXCT

WATT

Q4 25	-200.5%	-43.6%
Q3 25	-269.7%	-166.1%
Q2 25	-212.2%	-285.9%
Q1 25	-178.7%	-981.3%
Q4 24	-175.0%	-964.7%
Q3 24	-205.9%	-1483.5%
Q2 24	-188.8%	-9256.5%
Q1 24	-170.6%	-10310.9%

EPS (diluted)

MXCT

WATT

Q4 25	—	$-4.95
Q3 25	$-0.12	$-1.31
Q2 25	$-0.12	$-0.08
Q1 25	—	$-0.12
Q4 24	—	$-60.42
Q3 24	$-0.11	$-14.98
Q2 24	$-0.09	$-0.65
Q1 24	—	$-1.11

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric	MXCT	WATT
Cash + ST InvestmentsLiquidity on hand	$103.0M	$10.4M
Total DebtLower is stronger	—	—
Stockholders' EquityBook value	$171.5M	$12.5M
Total Assets	$202.5M	$16.7M
Debt / EquityLower = less leverage	—	—

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments

MXCT

WATT

Q4 25	$103.0M	$10.4M
Q3 25	$105.7M	$12.9M
Q2 25	$126.6M	$8.7M
Q1 25	$138.3M	$10.1M
Q4 24	$154.5M	$1.4M
Q3 24	$153.8M	$1.5M
Q2 24	$157.3M	$4.9M
Q1 24	$157.5M	$10.7M

Stockholders' Equity

MXCT

WATT

Q4 25	$171.5M	$12.5M
Q3 25	$180.3M	$13.7M
Q2 25	$190.7M	$8.8M
Q1 25	$199.4M	$9.5M
Q4 24	$206.3M	$-1.1M
Q3 24	$213.3M	$434.0K
Q2 24	$221.3M	$3.0M
Q1 24	$226.4M	$7.2M

Total Assets

MXCT

WATT

Q4 25	$202.5M	$16.7M
Q3 25	$213.5M	$17.8M
Q2 25	$219.8M	$12.3M
Q1 25	$230.0M	$13.4M
Q4 24	$239.5M	$3.8M
Q3 24	$248.6M	$4.0M
Q2 24	$251.5M	$7.2M
Q1 24	$257.9M	$13.1M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric	MXCT	WATT
Operating Cash FlowLast quarter	$-2.7M	$-2.4M
Free Cash FlowOCF − Capex	$-2.9M	$-2.4M
FCF MarginFCF / Revenue	-61.0%	-80.5%
Capex IntensityCapex / Revenue	4.8%	1.3%
Cash ConversionOCF / Net Profit	—	—
TTM Free Cash FlowTrailing 4 quarters	$-36.2M	$-12.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow

MXCT

WATT

Q4 25	$-2.7M	$-2.4M
Q3 25	$-7.5M	$-2.5M
Q2 25	$-9.9M	$-2.9M
Q1 25	$-14.4M	$-4.7M
Q4 24	$-7.8M	$-2.7M
Q3 24	$-4.4M	$-4.0M
Q2 24	$-4.8M	$-5.8M
Q1 24	$-10.6M	$-5.1M

Free Cash Flow

MXCT

WATT

Q4 25	$-2.9M	$-2.4M
Q3 25	$-7.8M	$-2.5M
Q2 25	$-10.4M	$-2.9M
Q1 25	$-15.1M	$-4.7M
Q4 24	$-8.0M	—
Q3 24	$-4.8M	$-4.1M
Q2 24	$-5.1M	$-5.8M
Q1 24	$-11.4M	$-5.1M

FCF Margin

MXCT

WATT

Q4 25	-61.0%	-80.5%
Q3 25	-168.5%	-194.3%
Q2 25	-179.2%	-296.8%
Q1 25	-262.3%	-1367.1%
Q4 24	-131.6%	—
Q3 24	-85.5%	-1788.3%
Q2 24	-103.3%	-12667.4%
Q1 24	-203.6%	-7928.1%