FREMONT, Calif., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Cytek Biosciences, Inc. (NASDAQ:CTKB), a leading cell analysis solutions company, today announced the company will be participating in the following investor conferences. BTIG 11th Annual MedTech, Digital Health, Life Science & Diagnostic Tools Conference in Snowbird, Utah Participating on Tuesday, February 13th and Wednesday, February 14th Raymond James 45th Annual Institutional Investors Conference in Orlando, FLPresentation on Monday, March 4th at 2:15 p ...

FREMONT, Calif., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Cytek Biosciences, Inc. (Nasdaq: CTKB), a leading cell analysis solutions company, today announced the company will be participating in the following investor conferences. BTIG 11th Annual MedTech, Digital Health, Life Science & Diagnostic Tools Conference in Snowbird, Utah Participating on Tuesday, February 13th and Wednesday, February 14th Raymond James 45th Annual Institutional Investors Conference in Orlando, FLPresentation on Monday, March 4th at 2:15 ...

13 Company uses a two-step approach to recognize and measure uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained upon tax authority examination, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate ...

Cytek Biosciences, Inc. (NASDAQ:CTKB) Q3 2023 Earnings Conference Call November 7, 2023 4:30 PM ET Company Participants Paul Goodson - IR Wenbin Jiang - CEO Patrik Jeanmonod - CFO Conference Call Participants David Westenberg - Piper Sandler Steven Mah - TD Cowen Matthew Sykes - Goldman Sachs Andrew Cooper - Raymond James Operator Good day and thank you for standing by. Welcome to the Cytek Biosciences Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please be advised that today's confer ...

Cytek Biosciences, Inc. (NASDAQ:CTKB) Q2 2023 Results Conference Call August 8, 2023 4:30 PM ET Company Participants Paul Goodson - IR Wenbin Jiang - CEO Patrik Jeanmonod - CFO Conference Call Participants Steven Mah - TD Cowen David Westenberg - Piper Sandler Operator Good day, and thank you for standing by. Welcome to the Cytek Biosciences Second Quarter 2023 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conferen ...

The customer relationships intangible asset represents the fair value of the underlying relationships with Luminex's FCI customers. The tradename intangible asset represents the fair value of brand and name recognition associated with the marketing of the acquired Luminex FCI product lines. The FCI developed technology intangible asset represents the fair value of access to certain imaging and microcapillary technologies. The fair value of the customer relationships intangible asset was determined based on ...

Cytek Biosciences, Inc. (NASDAQ:CTKB) Q1 2023 Earnings Conference Call May 9, 2023 4:30 PM ET Company Participants Paul Goodson - Head Investor Relations Wenbin Jiang - Chief Executive Officer Patrik Jeanmonod - Chief Financial Officer Conference Call Participants David Westenberg - Piper Sandler Stephanie Yan - TD Cowen Operator Good afternoon, and thank you for standing by. Welcome to the Cytek Biosciences First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mo ...

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-40632 CYTEK BIOSCIENCES, INC. (Exact name of Registrant as specified in its Charter) Delaware 47-2547526 | (State or other juris ...

Cytek Biosciences, Inc. (NASDAQ:CTKB) Q4 and Full Year 2022 Earnings Conference Call February 28, 2023 4:30 PM ET Company Participants Paul Goodson – Investor Relations Wenbin Jiang – Chief Executive Officer Patrik Jeanmonod – Chief Financial Officer Conference Call Participants David Westenberg – Piper Sandler Operator Good day, and thank you for standing by. Welcome to the Cytek’s Fourth Quarter and Full Year 2022 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference ...

Financial Position - The company's inventory balance was $48.2 million as of December 31, 2022[263]. - Total current liabilities increased to $49.0 million as of December 31, 2022, from $33.2 million in 2021[292]. - Cash and cash equivalents totaled $296.6 million as of December 31, 2022, primarily consisting of money market funds and bank deposits[286]. - Total inventories as of December 31, 2022, amounted to $48.154 million, up from $32.171 million in 2021, indicating a 49.6% increase[345]. - The Company’s property and equipment, net, increased to $13.682 million as of December 31, 2022, from $5.851 million in 2021, a 133.5% increase[350]. - As of December 31, 2022, the Company had total stockholders' equity of $425.546 million, up from $405.385 million in 2021[697]. - The total liabilities, redeemable convertible preferred stock, and stockholders' equity amounted to $519.476 million as of December 31, 2022[697]. Revenue and Income - Total revenue for 2022 reached $164.036 million, a 28.3% increase from $127.950 million in 2021[323]. - Product revenue was $148.600 million in 2022, up 24.4% from $119.519 million in 2021[323]. - Service revenue increased to $15.436 million in 2022, a 83.1% rise from $8.431 million in 2021[323]. - The net income attributable to common stockholders for 2022 was $2.576 million, compared to a net loss in 2021[323]. - Net income for 2022 was $2,484,000, a decrease of 17.9% from $3,027,000 in 2021[325]. - The company reported a net comprehensive income of $890,000 for 2022, down from $3.859 million in 2021[323]. Expenses - General and administrative expenses increased to $34.7 million for the year ended December 31, 2022, up from $20.8 million in 2021, primarily due to increased personnel-related costs[271]. - Operating expenses totaled $102.778 million in 2022, a 47.0% increase from $69.987 million in 2021[323]. - The Company recorded $2.2 million in interest expense for the year ended December 31, 2022, compared to $1.7 million in 2021[353]. - Cash paid for taxes increased to $10,390,000 from $2,863,000 in the previous year[325]. - Stock-based compensation expenses totaled $16,595 million in 2022, significantly higher than $6,586 million in 2021, with costs in research and development rising to $5,035 million[407]. Cash Flow - Total cash used in operating activities was $12,231,000, compared to cash provided of $4,630,000 in the previous year[325]. - Cash flows from investing activities totaled $55,909,000, significantly higher than $20,993,000 in 2021, primarily due to purchases of marketable securities[325]. - The company reported a net cash increase of $299,500,000 at the end of the period, down from $364,618,000 at the beginning[325]. Taxation - The company recorded a benefit from income tax of $1.2 million for the year ended December 31, 2022, compared to a provision of $2.9 million in 2021[271]. - The effective tax rate for 2022 was (97.1)%, compared to 48.9% in 2021 and (34.5)% in 2020[389]. - Deferred tax assets increased to $25,755,000 in 2022 from $10,434,000 in 2021, with net deferred tax assets at $24,507,000[390]. - The Company maintained a valuation allowance of $(1,248,000) against deferred tax assets as of December 31, 2022[390]. Acquisitions and Investments - The Company completed the acquisition of the reagents business of Tonbo Biotechnologies Corporation for an aggregate cash consideration of $17 million, which includes a portfolio of life science research reagents[372]. - The acquisition of Tonbo resulted in $9.7 million of goodwill, primarily due to immediate access to Tonbo's products and business infrastructure[373]. - The identifiable net assets acquired from Tonbo included customer relationships valued at $2.2 million, tradename assets at $700,000, and reagent licenses at $1.8 million[374]. - The Company invested $1.6 million in Tianjin Deep Analysis Intelligent Technology Development Co., Ltd, acquiring approximately 3.3% ownership[449]. - In January 2023, the Company purchased all shares of Cytek Japan from TOMY, making it a wholly-owned subsidiary[449]. - The Company acquired certain assets from Luminex Corporation for approximately $46.5 million in cash, closing the acquisition on February 28, 2023[449]. Stock and Equity - The Company issued 17,752,068 shares of Series D redeemable convertible preferred stock for net proceeds of $119.7 million in October 2020[378]. - As of December 31, 2022, the Company had authorized 1,000,000,000 shares of common stock at a par value of $0.001[379]. - The 2021 Equity Incentive Plan reserves 18,000,000 shares for issuance, with an automatic annual increase of 4% of outstanding shares[380]. - The total number of stock options outstanding decreased to 7,578,635 as of December 31, 2022, from 8,805,850 in 2021, with an aggregate intrinsic value of $37,200[405]. - As of December 31, 2022, the Company had $28.1 million of unrecognized stock-based compensation expense related to unvested stock options, estimated to be recognized over 2.23 years[384]. - The Company had $14.5 million of unrecognized stock-based compensation expense related to unvested RSU awards, estimated to be recognized over 3.22 years[385]. Legal and Compliance - The Company has a legal settlement liability of $17.8 million as of December 31, 2022, up from $15.2 million in 2021[353]. - The Company is not currently under examination for federal, state, and foreign income tax purposes, and its tax returns are subject to examination unless the statutes of limitations close[358]. - The Company plans to enhance its internal control over financial reporting to address identified material weaknesses[428]. Accounting Policies - The Company has adopted recent accounting pronouncements that may impact its financial statements[691]. - The adoption of Topic 842 resulted in the recording of right-of-use (ROU) assets and lease liabilities related to operating leases of approximately $14.6 million and $15.2 million, respectively, on January 1, 2022[360]. - The Company uses the acquisition method of accounting under ASC 805, with acquired companies' operating results included in consolidated financial statements from the acquisition date[359]. - The Company adopted ASU 2016-13 on December 31, 2022, which requires estimating all expected credit losses for financial assets measured at amortized cost, with no material impact on consolidated financial statements[360].