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$MXCT Q2 2023 lackluster, but business fundamentals are intact
- Rev at 9M (9.6M in Q2 2022) at a gross margin of 85%
- Reasons for lackluster revenue - multiple macroeconomic factors including the challenging capital markets environment. Thus lower capex outlay is affecting growth
- 5 new partnerships added in 2023 so far (Lyell Immunopharma, ViTToria Biotherapeutics and Prime Medicine)
- Margin improvement is anticipated, as some milestone revenue is expected (at no additional cost)
- Fully year 2023 revenue outlook unchanged - 44M (same as 2022)
In my opinion this a good time to accumulate participation in a strong company when the sector as a whole is beaten down.
Disclaimer - Invested, and added 0.5% today.
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