Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $45.6 million, a decrease of $1 million or 2.2% compared to Q2 2024, primarily due to lower product revenue in EMEA and APAC, partially offset by strong growth in service revenue worldwide, which grew by 18% [8][22] - Product revenue decreased by 9% year-over-year, driven by a significant decline in EMEA, while US product revenue increased by 2% [22][23] - GAAP gross profit was $23.9 million, a 6% decline versus the prior year, with a gross profit margin of 52% compared to 55% in the prior year quarter [25] Business Line Data and Key Metrics Changes - Recurring revenue businesses reached 32% of trailing twelve-month sales in Q2, growing by 16% year-over-year, with service and reagent revenue each increasing by 18% [9][10] - FSP unit volume grew by 3% in Q2, led by AURORA analyzers, with particular strength in the US showing 10% year-over-year growth [10][11] - Service revenue continued to deliver strong growth of 18% in Q2 versus the prior year and 21% for the first half [24] Market Data and Key Metrics Changes - Total US revenue was up 7% over the prior year, driven by service and reagents, while EMEA revenue declined by 11% due to lower instrument sales [11][24] - APAC sales declined following a strong Q1, primarily due to longer sales cycles, but showed solid growth on a year-over-year basis [12] - The rest of the world region, including Canada and Latin America, delivered single-digit percentage revenue growth compared to last year's second quarter [12] Company Strategy and Development Direction - The company aims to solidify its market leadership in next-gen cell analysis solutions through innovation and differentiated offerings, including the launch of the Cytec Aurora EVO system [17][31] - The focus remains on expanding the installed base globally, which is expected to drive growth in instrument revenue and sustainable recurring revenue in service and reagent businesses [31][32] - The company is open to M&A opportunities that have synergy potential, while also investing in organic growth through its reagent and service segments [48][50] Management's Comments on Operating Environment and Future Outlook - Management noted that the capital equipment spending environment remains challenging, particularly in the academic and government sectors, but expects a recovery over time [14][32] - The company narrowed its full-year 2025 revenue guidance to a range of $196 million to $205 million, reflecting overall growth of -2% to +2% compared to 2024 [29] - Management expressed confidence in the growth of recurring revenue streams and the core business despite the current market challenges [29][30] Other Important Information - The installed instrument base grew by 146 units in Q2, bringing the total to 3,295 units, indicating steady expansion across a diverse customer base [15][16] - The company reported a positive free cash flow of $900,000 in Q2, despite stock repurchases totaling $4.5 million [28] Q&A Session Summary Question: How is the Flow Cytometry market performing and are there any competitive concerns? - Management indicated that the overall flow cytometry market is experiencing a downturn due to funding challenges, but the company continues to grow its core business and unit volume [34][35] Question: How comfortable is the company with the second half guidance? - Management expects stronger performance in the second half, driven by recurring revenue growth, while capital spending is anticipated to be back-end weighted [40][41] Question: Is the company open to M&A opportunities? - Management confirmed openness to M&A, focusing on opportunities with synergy potential in existing markets or adjacencies [48][49] Question: What is the expected contribution from new products like AURORA EVO? - AURORA EVO is expected to be a significant contributor to revenue, supporting margins, while MUSE Micro is not expected to have a major impact on margins [64][65] Question: What are the drivers of service revenue growth? - Service revenue growth is driven by the installed base, with expectations that this growth will continue based on past performance [66][67]

Core Viewpoint - Cytek Biosciences, Inc. will report its financial results for Q2 2025 on August 6, 2025, followed by a conference call to discuss the results and business outlook [1]. Company Overview - Cytek Biosciences is a leading company in cell analysis solutions, utilizing its patented Full Spectrum Profiling™ (FSP) technology to deliver high-resolution and high-sensitivity cell analysis tools [2]. - The company's product offerings include FSP instruments such as Cytek Aurora™, Northern Lights™, and Cytek Orion™, along with various reagents, software, and services [2]. - Cytek is headquartered in Fremont, California, with a global presence through offices and distribution channels [2]. Product Usage - Cytek's products are intended for research use only, with specific exceptions for clinical use in China and the European Union for certain systems and reagents [3]. Information Distribution - The company utilizes its website, LinkedIn, and X (formerly Twitter) for distributing material information and compliance with disclosure obligations under Regulation FD [4].

Summary of Cytek Biosciences (CTKB) FY Conference Call - June 11, 2025 Company Overview - **Company**: Cytek Biosciences (CTKB) - **Industry**: Biotechnology, specifically in flow cytometry and related services Key Points and Arguments Business Segmentation and Performance - The business is divided into two main segments: service and instrument sales, with service showing consistent growth linked to the installed base of instruments [3][4][22] - The reagent business has shown steady growth, with improvements in execution and delivery times contributing to confidence in future performance [4][22] - The Asia Pacific and rest of the world markets are experiencing good growth, contrasting with pressures on academic funding in the U.S. and Europe [5][6][32] Market Conditions and Guidance - Guidance for the year is bracketed between a decline of 2% and growth of 5%, reflecting uncertainty in academic funding and purchasing decisions [6][7] - The flow cytometry market overall saw a decline of 2% in Q1, with Cytek outperforming this due to a growing installed base and product innovation [10][12][13] - The company expects to continue outpacing the market due to its focus on full spectrum profiling and strong product offerings [14] Service Business Growth - The service business is projected to grow faster than instrument sales, potentially becoming a larger portion of overall revenue [22][23] - Recurring revenue, including services and reagents, currently accounts for about 31% of total revenue, with aspirations to increase this to the 40% range in the future [22][30] Regional Insights - Cytek has established a strong presence in China, benefiting from government stimulus programs and becoming a recognized brand in the market [32][33] - The company ranks as the third supplier in China, indicating significant growth potential in this region [32] Cost Structure and Profitability - Approximately 75% to 80% of incremental revenue contributes to EBITDA, with gross margins expected to improve from 55% towards 60% [38][40] - The company has a fixed versus variable cost structure that allows for significant margin expansion as revenue grows [39][42] Technological Advancements - The Cytek Cloud platform has gained traction with 18,000 users, enhancing customer engagement and providing a competitive edge through data management and analysis capabilities [43][44][48] - The platform allows for efficient panel design and reagent purchasing, which is expected to drive service revenue growth [44][48] Investor Insights - The company emphasizes its positive EBITDA and cash flow generation, distinguishing itself from other small-cap tools companies [50] - Recent product innovations, such as the new AURORA analyzer, have received positive feedback, suggesting strong future sales potential [50][51] Additional Important Content - The company is managing tariff impacts through regional manufacturing strategies, with minimal expected effects on gross margins [34][36] - The service contracts are crucial for maintaining high instrument utilization, which is essential for core labs operating as businesses [23][26]

Core Insights - Cytek Biosciences, Inc. has launched the Cytek Aurora™ Evo system, a new full spectrum flow cytometer that enhances the capabilities of its predecessor, the Cytek Aurora system [1][3][5] Product Features and Innovations - The Cytek Aurora Evo system builds on the success of the original Aurora system, maintaining its reliability while introducing high-throughput and automation capabilities to meet modern research demands [3][4] - The system utilizes Cytek's Full Spectrum Profiling™ (FSP) technology, allowing for large multicolor experiments without compromising data quality and providing assay flexibility [3][4] - Key features include improved sample throughput, automated instrument maintenance, and data harmonization, which empower researchers to accelerate discoveries [3][11] - The system can acquire samples at rates up to 200 µL/min, effectively doubling the speed of sample acquisition compared to previous models [11] Market Position and Impact - Cytek's innovative approach in spectral flow cytometry has positioned the company as a leader in the field, with over 2,600 peer-reviewed publications citing its FSP technology [2][4] - The new Aurora Evo system is expected to meet the increasing demand for high-performance and flexible cell analysis tools, further driving the adoption of spectral flow cytometry [4][5]

Core Viewpoint - Cytek Biosciences, Inc. will participate in the Goldman Sachs 46th Annual Global Healthcare Conference, indicating its active engagement in the healthcare investment community [1]. Company Overview - Cytek Biosciences is a leading cell analysis solutions company that specializes in high-resolution, high-content, and high-sensitivity cell analysis through its patented Full Spectrum Profiling™ (FSP) technology [3]. - The company offers a comprehensive suite of products including the Cytek Aurora™, Northern Lights™, and Cytek Orion™ systems, as well as flow cytometers and imaging products under the Amnis and Guava brands [3]. - Cytek is headquartered in Fremont, California, with a global presence through offices and distribution channels [3]. Upcoming Events - Cytek management is scheduled for a fireside chat on June 11 at 11:40 a.m. Pacific Time, which will be accessible via a live and archived webcast on the company's website [2].