Cytek Biosciences, Inc.
4.0100-0.19 (-4.52%)
Oct 29, 4:00:02 PM EDT · NasdaqGS · CTKB · USD
Key Stats
Market Cap
510.17MP/E (TTM)
-Basic EPS (TTM)
-0.05Dividend Yield
0%Recent Filings
8-K
Q2 revenue dips 2%, Evo launches
Cytek Biosciences reported Q2 2025 revenue of $45.6 million, down 2% from last year amid EMEA and APAC softness, yet recurring revenue surged 16% to comprise 32% of trailing 12-month total. The company added 146 instruments, boosting its installed base to 3,295 units, and launched the enhanced Cytek Aurora Evo system for faster throughput and better resolution. It narrowed full-year revenue guidance to $196–$205 million. Cash reserves dipped slightly to $262 million despite a $4.5 million share repurchase.
10-Q
Q2 FY2025 results
Cytek Biosciences posted Q2 revenue of $45.6M, down 2% y/y but up 5% q/q (derived), with product sales slipping 9% y/y to $31.4M amid softer U.S. academic and EMEA biopharma demand, while service revenue climbed 18% y/y to $14.2M on a growing installed base. Gross margin held at 52%, down from 55% y/y, as higher service costs offset lower product volumes. Operating loss narrowed to $10.6M from $8.5M y/y, thanks to 12% lower R&D spend; net loss improved to $5.6M or $(0.04) per diluted share from $10.4M or $(0.08), reconciling to 127M weighted shares. Cash and equivalents stood at $75.5M with $186.6M in marketable securities, long-term debt at $0.8M, and $15.1M used in share repurchases; free cash flow not disclosed in the 10-Q. Ongoing patent litigation with Beckman Coulter poses a key risk, potentially disrupting product sales.
8-K
Annual meeting elects director, ratifies auditor
Cytek Biosciences held its 2025 annual meeting on June 18, with 81.4% of shares participating. Richard Chin secured election as Class I director with strong support, while Deborah Neff faced heavy withholding and fell short. Say-on-pay for executives won advisory approval from 76 million votes, and Deloitte's auditor role was ratified overwhelmingly. Shareholder dissent on Neff highlights board scrutiny.
10-Q
Q1 FY2025 results
Cytek Biosciences posted Q1 FY2025 revenue of $41.5M, down 8% y/y from $44.9M, with product sales dropping 18% to $28.1M amid softer EMEA and U.S. demand, yet service revenue climbed 24% to $13.3M on a growing installed base. Gross margin slipped to 49% from 51%, reflecting higher service costs, while operating expenses edged up to $35.1M, yielding an operating loss of $15.0M versus $10.7M last year; net loss widened to $11.4M or $(0.09) per diluted share from $6.2M or $(0.05), with the gap tied to lower other income and a tax provision. Cash and equivalents stood at $95.3M, bolstered by $170.3M in marketable securities, while long-term debt dipped to $0.9M; free cash flow turned negative at $(0.1M) derived from $(0.1M) operating cash minus $0.8M capex. The 2023 FCI Acquisition added imaging tools, recognizing $6.0M goodwill and $21.8M intangibles amortized over 1-15 years. Patent infringement suits from Beckman Coulter loom as a key risk.
8-K
Q1 revenue dips 7.6%
Cytek Biosciences reported Q1 2025 revenue of $41.5 million, down 7.6% from last year, hit by slowdowns in US and EMEA product sales, yet buoyed by APAC strength and robust service growth. The company expanded its instrument base to 3,149 units, launched the affordable Cytek Muse Micro analyzer, and kicked off Singapore operations for cost-efficient manufacturing. It repurchased $10.6 million in shares amid a $265.6 million cash pile. Cytek trimmed its full-year revenue outlook to $196–$210 million, citing macroeconomic headwinds; installed base growth fuels recurring revenue potential.
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