MXCT · CIK 1287098
What MaxCyte, Inc. told the SEC could break it.
MaxCyte's disclosures center on concentration at both ends of its cell-engineering instrument business. One customer accounted for 26% of revenue in 2025 (up from 23%) and 18% of receivables, so losing or reduced ordering from that buyer would materially hit results. On the supply side, certain key components of its ExPERT instruments and consumables — such as CPU chips and PA electrodes — come from a single supplier, creating disruption risk for parts that may be hard to transfer, and tariffs on components it imports from China or elsewhere could erode profitability unless it wins exclusions or raises prices that make its products less competitive.
3 self-disclosed vulnerabilities, pulled from its own filings — each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Customer concentration
- Single customer ~26% of revenuehigh
MaxCyte's revenue is concentrated — one customer represented 26% of revenue in 2025 (23% in 2024) and 18% of accounts receivable — so losing or reduced ordering by that customer would materially affect results.
“During the years ended December 31, 2025 and 2024, one customer represented 26 % and 23 % of revenue, respectively.”
SEC filing →As of 2026
Regulatory & policy
- Tariffs on components imported from China and other nationsmedium
Tariffs on components MaxCyte imports from China or other nations would hurt profitability unless it can secure exclusions or raise prices, which could make its products less competitive; broader trade actions could also contract customer demand.
“tariffs on components that we may import from China or other nations will adversely affect our profitability unless we are able to exclude such components from the tariffs or we raise prices for our products, which may result in our products becoming less attractive relative to products offered by our competitors.”
Supplier concentration
- Single-source suppliers for certain instrument components (e.g., CPU chips, PA electrodes)medium
Certain key components of MaxCyte's ExPERT instruments and consumables — such as CPU chips and PA electrodes — come from a single supplier (about 13% of 2025 inventory additions from one supplier), creating supply-disruption risk if a sole-source part is hard to transfer.
“in some cases, such as certain instrument components ( e.g. , CPU chips or PA electrodes), we rely on a single supplier for a particular component, subassembly or consumable.”
SEC filing →As of 2026
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