Company Overview - Cytek Biosciences (CTKB) is a biotechnology company specializing in cell analysis through its Full Spectrum Profiling (FSP) spectral cytometry technology, which captures the full emission spectrum of each fluorochrome, resulting in higher-parameter and more detailed analysis of cells [1]. Technology and Innovation - The FSP technology allows for enhanced cell profiling, which is crucial for various applications in research and clinical settings, potentially leading to improved diagnostics and therapeutic strategies [1].

America's Growth Leaders Cytek Biosciences has been recognized by TIME as one of America’s Growth Leaders of 2026. Presented in partnership with global data firm Statista, the ranking recognizes the top-performing publicly listed companies in the United States that have demonstrated exceptional growth, financial stability, and stock performance over the past five years. FREMONT, Calif., Nov. 12, 2025 (GLOBE NEWSWIRE) -- Spectral flow cytometry leader Cytek Biosciences, Inc. (Nasdaq: CTKB) today announce ...

Core Insights - Cytek Biosciences, Inc. has been recognized in TIME's 2026 list of America's Growth Leaders, highlighting its exceptional growth, financial stability, and stock performance over the past five years [1][5] - The inclusion in this list signifies Cytek's strong financial foundation and sustained business expansion, particularly in delivering innovative cell analysis solutions [2][5] Company Overview - Cytek Biosciences specializes in high-parameter cell analysis solutions, utilizing its patented Full Spectrum Profiling™ (FSP®) technology to enhance the precision and sensitivity of cell analysis [6] - The company aims to make high-parameter cell analysis more accessible and cost-effective for laboratories of all sizes, addressing urgent challenges in health and scientific research [3][4] Industry Impact - Cytek's FSP systems are referenced in over 3,200 peer-reviewed publications, demonstrating their significant impact on global research [4] - The company's innovations support advancements in cancer research, cell and gene therapies, vaccine development, and responses to emerging diseases [3][4]

Core Insights - Cytek Biosciences, Inc. has been awarded the title of Drug Discovery Solution of the Year for its Cytek Muse Micro cell analyzer at the 2025 BioTech Breakthrough Awards, recognizing its innovative contributions to the life sciences and biotechnology sectors [1][3][10] Company Overview - Cytek Biosciences is a leading company in cell analysis solutions, focusing on high-resolution, high-content, and high-sensitivity cell analysis through its patented Full Spectrum Profiling™ (FSP) technology [5] - The company is headquartered in Fremont, California, and has a global presence with offices and distribution channels [5] Product Highlights - The Cytek Muse Micro cell analyzer enhances the original Guava Muse system, offering a compact, cost-effective, and multifunctional platform that simplifies flow cytometry while maintaining accuracy and versatility [2][4] - Applications of the Muse Micro system include cell counting, cell health and viability assessment, apoptosis, immunophenotyping, immune cell monitoring, and fluorescent protein analysis [2] Market Impact - The Muse Micro system aims to democratize access to sophisticated cell analysis, making it more accessible for smaller labs and resource-limited facilities, which traditionally faced barriers due to the complexity and cost of traditional flow cytometry systems [3][4]

Core Insights - Cytek Biosciences, Inc. reported a quarterly loss of $0.01 per share, matching the Zacks Consensus Estimate, but representing a 200% earnings surprise compared to the previous year's earnings of $0.01 per share [1] - The company generated revenues of $52.29 million for the quarter ended September 2025, exceeding the Zacks Consensus Estimate by 1.7% and showing a year-over-year increase from $51.5 million [2] - Cytek Biosciences shares have declined approximately 39.8% year-to-date, contrasting with the S&P 500's gain of 15.1% [3] Earnings Outlook - The future performance of Cytek Biosciences' stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [4][6] - The current consensus EPS estimate for the upcoming quarter is $0.04 on revenues of $57.63 million, and for the current fiscal year, it is also $0.04 on revenues of $196.08 million [7] Industry Context - The Medical - Biomedical and Genetics industry, to which Cytek Biosciences belongs, is currently ranked in the top 40% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Financial Data and Key Metrics Changes - Total revenue for Q3 2025 reached $52.3 million, a year-over-year increase of 2% compared to Q3 2024, driven by strong growth in Asia-Pacific and recurring revenue from services and reagents [6][17][19] - Product revenue, which includes instruments and reagents, decreased by 4% year-over-year, primarily due to a 26% decline in EMEA, offset by a 19% growth in APAC [17][19] - Net loss for Q3 was $5.5 million, compared to a net income of $0.9 million in the prior year quarter, driven by higher operating losses and lower net other income [23][24] Business Line Data and Key Metrics Changes - Instrument revenue to pharma and biotech customers grew 12% worldwide, with a 10% increase in the U.S., driven by the launch of the Aurora EVOS instrument [8][17] - Service revenue grew 19% year-over-year, supported by an expanding installed base and strong utilization of products [19][24] - Reagent revenue achieved its highest-ever quarterly revenue in Q3, representing a 21% growth over the prior year quarter [18][19] Market Data and Key Metrics Changes - U.S. revenue grew 12% in Q3 compared to the prior year, driven by service revenue growth, while EMEA experienced a 28% decline due to lower instrument revenue [19][24] - APAC, including China, saw a 25% increase in revenue, driven by growth in instruments, service, and reagents [19][24] - The Rest of World regions, including Canada and Latin America, achieved double-digit overall revenue growth compared to the third quarter of last year [8] Company Strategy and Development Direction - The company is focused on expanding its global footprint and enhancing its product offerings, including the introduction of the Aurora EVOS analyzer, which has received a strong reception [11][12] - Cytek is committed to driving growth in its reagent product line and has expanded its European headquarters to improve operational efficiency [12][13] - The company aims to leverage its Cytek Cloud platform to enhance customer experience and drive growth in its reagent and service businesses [14][15] Management's Comments on Operating Environment and Future Outlook - Management noted that the U.S. market is showing signs of stabilization, while EMEA remains challenged due to shifts in public spending priorities [25][40] - The company expects continued strong growth in instruments in APAC and stabilization in U.S. instruments, with a reaffirmed full-year 2025 revenue outlook of $196 million to $205 million [24][25] - Management believes that the clinical market represents an attractive business opportunity, particularly with the approval of Cytek's Northern Lights CLC system for clinical use in the EU [16] Other Important Information - The company reported a GAAP gross profit of $27.6 million, a 5% decrease from Q3 2024, with a gross margin of 53% [19][20] - Operating expenses increased by 10% year-over-year, primarily due to higher general and administrative expenses related to legal costs [20][22] - Free cash flow was slightly negative at minus $0.3 million, reducing total cash and marketable securities to $261.7 million [24] Q&A Session Summary Question: Differences in the Aurora EVO product compared to others in the market - Management highlighted that the Aurora EVO includes features such as higher throughput and small particle detection, tailored for pharma customers [30] Question: Insights on double-digit growth in CROs and implications for biopharma - Management clarified that instrument revenue to the aggregate group of pharma, biotech, and CROs grew 12% worldwide, indicating strong demand [32] Question: Quality of customer conversations and spending appetite for next year - Management noted strong growth in Asia-Pacific and stable trends in the U.S., with expectations for continued growth in biopharma spending [38][39] Question: Key assumptions behind the 2025 outlook - Management expects typical seasonal improvement in Q4 driven by budget flush from biopharma customers [41][50] Question: Trends in U.S. academic and government demand - Management indicated that demand continues to be under pressure, with no significant changes expected [42] Question: Initiatives to increase reagent capture rate - Management mentioned improvements in operational efficiency, logistics, and the expansion of facilities to enhance reagent business [43][44] Question: Capital deployment and appetite for share buybacks or acquisitions - Management aims to balance share repurchase and M&A opportunities, with a focus on maintaining a strong balance sheet [53][54]

Financial Performance - Total revenue for Q3 2025 was $52.3 million, a 2% increase from $51.5 million in Q3 2024, while total revenue for the nine months ended September 30, 2025 was $139.4 million, a 3% decrease from $143.0 million in the same period of 2024[167][168]. - The net loss for Q3 2025 was $5.5 million, compared to a net income of $0.9 million in Q3 2024, primarily due to decreased revenues and increased operating expenses[173]. - Total revenue, net decreased by $3.6 million to $139.4 million, or 3%, for the nine months ended September 30, 2025, compared to the same period in 2024[209]. - Gross profit for the three months ended September 30, 2025, was $27.6 million, down from $29.0 million in 2024[208]. - Loss from operations for the three months ended September 30, 2025, was $(9.2) million, compared to $(4.2) million in 2024[208]. - Net loss for the three months ended September 30, 2025, was $(5.5) million, compared to a net income of $0.9 million in 2024[208]. Revenue Breakdown - Direct sales accounted for 72% of total revenue in Q3 2025, down from 77% in Q3 2024, while distributor sales increased to 28% from 23% in the same period[169]. - Product revenue decreased by $1.4 million to $38.1 million, or 4%, for the three months ended September 30, 2025, primarily due to lower revenue in EMEA[210]. - Service revenue increased by $2.2 million to $14.2 million, or 19%, for the three months ended September 30, 2025, driven by growth in the installed base of instruments[211]. - Product revenue decreased by $10.6 million to $97.6 million, or 10%, for the nine months ended September 30, 2025, primarily due to lower revenue in EMEA and the United States[210]. - Service revenue increased by $7.0 million to $41.7 million, or 20%, for the nine months ended September 30, 2025, reflecting an increase in service contracts and maintenance activity[211]. Expenses and Costs - Research and development expenses for Q3 2025 were $9.0 million, compared to $9.9 million in Q3 2024, indicating a focus on cost management while continuing to invest in innovation[170]. - Total operating expenses for the three months ended September 30, 2025, were $36.7 million, an increase from $33.3 million in 2024[208]. - Total cost of sales increased by $2.2 million to $24.7 million, or 10%, for the three months ended September 30, 2025 compared to the same period in 2024[212]. - Research and development expenses decreased by 9% to $9.0 million for the three months ended September 30, 2025, and by 7% to $27.5 million for the nine months ended September 30, 2025 compared to 2024[217]. - Sales and marketing expenses decreased by 6% to $11.7 million for the three months ended September 30, 2025, and by 3% to $36.3 million for the nine months ended September 30, 2025 compared to 2024[218]. - General and administrative expenses increased by 47% to $16.1 million for the three months ended September 30, 2025, and by 25% to $42.6 million for the nine months ended September 30, 2025 compared to 2024[219]. Cash Flow and Investments - As of September 30, 2025, the company had approximately $261.7 million in cash and cash equivalents and short-term investments, down from $277.9 million as of December 31, 2024[226]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $3.92 million, influenced by a net loss of $22.5 million[233]. - Net cash provided by investing activities during the nine months ended September 30, 2025, was $12.0 million, driven by proceeds from maturities of marketable securities of $216.1 million[235]. - Net cash used in financing activities during the nine months ended September 30, 2025, was $12.2 million, primarily due to share repurchases of $15.1 million[237]. Market and Strategic Developments - The company completed the acquisition of Luminex's flow cytometry and imaging business on February 28, 2023, enhancing its product offerings and market reach[166]. - The installed base of instruments is expected to drive recurring revenue growth, with a focus on increasing service and reagent sales as the customer base expands[177]. - The company plans to continue investing in commercial infrastructure and expanding its workforce to support growth in instrument sales and reagent offerings[171]. - Inflationary pressures and a challenging fundraising environment for pharmaceutical customers may impact future operating results and sales cycles[186][187]. Tax and Interest - Benefit from income taxes was $2.3 million for the three months ended September 30, 2025, compared to $0.8 million for the same period in 2024, reflecting a 192% increase[225]. - Interest expense increased by 315% to $0.5 million for the three months ended September 30, 2025, and by 73% to $1.2 million for the nine months ended September 30, 2025 compared to 2024[221]. - Interest income decreased by 60% to $0.6 million for the three months ended September 30, 2025, and by 61% to $1.6 million for the nine months ended September 30, 2025 compared to 2024[222]. Future Outlook - The company anticipates significant cash expenditures for research and development, commercialization of new products, and market expansion[227]. - The company anticipates that general and administrative expenses may increase in absolute dollars in future periods to support business growth[220]. - Future minimum lease payments under non-cancelable operating leases totaled $21.0 million as of September 30, 2025[229]. - The company has not entered into any hedging arrangements to minimize foreign currency exchange rate fluctuations[247]. - The company does not believe that inflation or foreign currency risk had a material effect on its financial condition during the periods presented[248].

Financial Performance - Total revenue for Q3 2025 was $52.3 million, a 2% increase compared to Q3 2024[5] - Total recurring revenue grew by 19% compared to Q3 2024, driven by service and reagent revenues[8] - Total revenue for the three months ended September 30, 2025, was $52,293,000, a slight increase from $51,500,000 in the same period of 2024, representing a growth of 1.5%[25] - Worldwide revenue from biotechnology, pharmaceutical, and CRO customers grew by 14% year-over-year[8] Profitability - GAAP gross profit was $27.6 million, a 5% decrease from Q3 2024, with a gross profit margin of 53%[6] - Gross profit for the three months ended September 30, 2025, was $27,551,000, down from $29,005,000 in 2024, resulting in a gross margin of 53% compared to 56% in the prior year[29] - Net loss for Q3 2025 was $5.5 million, compared to a net income of $0.9 million in Q3 2024[12] - Net loss for the three months ended September 30, 2025, was $(5,478,000), compared to a net income of $941,000 in 2024, indicating a significant decline in profitability[25] - Adjusted EBITDA was $2.5 million, down from $7.6 million in Q3 2024[13] - The company reported a non-GAAP adjusted EBITDA of $2,450,000 for the three months ended September 30, 2025, down from $7,627,000 in 2024, indicating a decline of approximately 67.8%[29] Expenses - Operating expenses increased by 10% to $36.7 million, primarily due to higher general and administrative expenses[7] - Total operating expenses increased to $36,743,000 for the three months ended September 30, 2025, from $33,253,000 in 2024, marking an increase of 13.5%[25] - Research and development expenses for the three months ended September 30, 2025, were $8,956,000, a decrease from $9,882,000 in 2024, reflecting a reduction of approximately 9.3%[25] Cash and Assets - Cash and marketable securities totaled $261.7 million as of September 30, 2025[14] - Cash and cash equivalents as of September 30, 2025, were $93,281,000, a decrease from $98,716,000 as of December 31, 2024[27] - Total current assets decreased to $388,489,000 as of September 30, 2025, from $396,446,000 as of December 31, 2024[27] Guidance and Outlook - Cytek reaffirms its 2025 revenue guidance of $196 million to $205 million, indicating a growth of -2% to +2% over 2024[15] - The installed base expanded to 3,456 Cytek instruments, adding 161 units in Q3 2025[8] Financial Position - The accumulated deficit increased to $(57,662,000) as of September 30, 2025, from $(35,199,000) as of December 31, 2024, reflecting a worsening financial position[27] - Weighted-average shares used in calculating net loss per share, basic, were 127,547,859 for the three months ended September 30, 2025, compared to 131,003,744 in 2024[25]

Core Insights - Cytek Biosciences reported a total revenue of $52.3 million for Q3 2025, reflecting a 2% increase compared to Q3 2024, driven by growth in the US, APAC, and other regions, despite a decline in EMEA [4][10] - The company experienced a GAAP gross profit of $27.6 million, a 5% decrease from the previous year, with a gross profit margin of 53% compared to 56% in Q3 2024 [5][10] - Operating expenses rose to $36.7 million, a 10% increase year-over-year, primarily due to a significant rise in general and administrative expenses [6][8] - The company reported a loss from operations of $9.2 million, compared to a loss of $4.2 million in Q3 2024, and a net loss of $5.5 million compared to a net income of $0.9 million in the same period last year [9][10] - Cytek's total recurring revenue grew by 19% year-over-year, indicating strong performance in service and reagent revenues [10] - The company reaffirmed its 2025 revenue guidance, expecting total revenue to be in the range of $196 million to $205 million, representing a growth of -2% to +2% over 2024 [12] Financial Performance - Total revenue for Q3 2025 was $52.3 million, up from $51.5 million in Q3 2024 [4][10] - GAAP gross profit was $27.6 million, down from $29.0 million in Q3 2024, with a gross profit margin of 53% [5][10] - Operating expenses were $36.7 million, with R&D expenses at $9.0 million (down 9%) and sales and marketing expenses at $11.7 million (down 6%) [6][7] - The net loss for Q3 2025 was $5.5 million, compared to a net income of $0.9 million in Q3 2024 [9][10] Strategic Developments - The installed base of Cytek instruments expanded to 3,456, with 161 new units added in Q3 2025 [10] - The company expanded its European headquarters in Amsterdam, increasing its footprint by over 40% [10] - Cytek's revenue from biotechnology, pharmaceutical, and clinical research organization customers grew by 14% year-over-year [10]

Core Insights - Cytek Biosciences, Inc. is launching a two-part research support initiative to enhance accessibility to cell analysis amid reduced government funding and global economic challenges [1][2][3] Group 1: Initiative Details - The first phase involves awarding a three-laser Cytek Northern Lights™ flow cytometer, which utilizes Full Spectrum Profiling™ technology for versatile assays [2][3] - The second phase will introduce a grant program for funding eligible research projects, assessed through a merit-based process overseen by a scientific advisory board [3] Group 2: Collaboration and Impact - Cytek's initiatives are part of an ongoing collaboration with the International Society for Advancement of Cytometry (ISAC) to improve access to advanced cytometry tools globally [4] - A previous donation of a Cytek Northern Lights™ flow cytometer to a lab in Argentina exemplifies the impact of collaboration in empowering scientists in underserved communities [4] Group 3: Company Commitment - Cytek is dedicated to democratizing access to flow cytometry, ensuring that labs of all sizes and budgets can utilize advanced tools for cellular insights [5] - The company emphasizes the importance of community engagement alongside technological innovation to benefit the entire scientific community [5][7]