Cytek Biosciences Reports Second Quarter 2025 Financial Results
Cytek Biosciences (Nasdaq: CTKB) reported Q2 2025 financial results, with total revenue of $45.6 million, marking a 2% decrease from Q2 2024. The company expanded its installed base to 3,295 instruments, adding 146 units in Q2 2025. Notable highlights include the launch of the Cytek Aurora™ Evo system and 16% growth in recurring revenue, which now accounts for 32% of trailing 12-month revenue.
The company reported a net loss of $5.6 million and Adjusted EBITDA of $1.3 million. Cash position remained strong at $262.0 million. Cytek repurchased $4.5 million of common stock during Q2 and narrowed its 2025 revenue guidance to $196-205 million, projecting -2% to +2% growth over 2024.
Cytek Biosciences (Nasdaq: CTKB) ha comunicato i risultati finanziari del secondo trimestre 2025, con un fatturato totale di 45,6 milioni di dollari, registrando un calo del 2% rispetto al secondo trimestre 2024. L'azienda ha ampliato la propria base installata raggiungendo 3.295 strumenti, con un incremento di 146 unità nel secondo trimestre 2025. Tra i punti salienti si segnalano il lancio del sistema Cytek Aurora™ Evo e una crescita del 16% dei ricavi ricorrenti, che ora rappresentano il 32% del fatturato degli ultimi 12 mesi.
La società ha riportato una perdita netta di 5,6 milioni di dollari e un EBITDA rettificato di 1,3 milioni di dollari. La posizione di cassa è rimasta solida a 262,0 milioni di dollari. Cytek ha riacquistato azioni ordinarie per un valore di 4,5 milioni di dollari nel secondo trimestre e ha ridotto la guidance sul fatturato 2025 a 196-205 milioni di dollari, prevedendo una crescita compresa tra -2% e +2% rispetto al 2024.
Cytek Biosciences (Nasdaq: CTKB) informó los resultados financieros del segundo trimestre de 2025, con ingresos totales de 45,6 millones de dólares, lo que representa una disminución del 2% respecto al segundo trimestre de 2024. La compañía amplió su base instalada a 3.295 instrumentos, sumando 146 unidades en el segundo trimestre de 2025. Entre los aspectos destacados se encuentra el lanzamiento del sistema Cytek Aurora™ Evo y un crecimiento del 16% en los ingresos recurrentes, que ahora representan el 32% de los ingresos de los últimos 12 meses.
La empresa reportó una pérdida neta de 5,6 millones de dólares y un EBITDA ajustado de 1,3 millones de dólares. La posición de efectivo se mantuvo sólida en 262,0 millones de dólares. Cytek recompró acciones comunes por 4,5 millones de dólares durante el segundo trimestre y ajustó su guía de ingresos para 2025 a 196-205 millones de dólares, proyectando un crecimiento de entre -2% y +2% respecto a 2024.
Cytek Biosciences (나스닥: CTKB)는 2025년 2분기 재무 실적을 발표했으며, 총 매출은 4,560만 달러로 2024년 2분기 대비 2% 감소했습니다. 회사는 설치 기반을 3,295대의 기기로 확장했으며, 2025년 2분기에 146대를 추가했습니다. 주요 성과로는 Cytek Aurora™ Evo 시스템 출시와 16%의 반복 매출 성장으로, 이는 최근 12개월 매출의 32%를 차지합니다.
회사는 560만 달러의 순손실과 130만 달러의 조정 EBITDA를 보고했습니다. 현금 보유액은 2억 6,200만 달러로 견고한 상태를 유지했습니다. Cytek는 2분기 동안 450만 달러 규모의 보통주를 재매입했으며, 2025년 매출 가이던스를 1억 9,600만~2억 500만 달러로 좁히고 2024년 대비 -2%에서 +2% 성장할 것으로 예상합니다.
Cytek Biosciences (Nasdaq : CTKB) a publié ses résultats financiers du deuxième trimestre 2025, avec un chiffre d'affaires total de 45,6 millions de dollars, soit une baisse de 2 % par rapport au deuxième trimestre 2024. L'entreprise a étendu sa base installée à 3 295 instruments, ajoutant 146 unités au deuxième trimestre 2025. Parmi les points forts, on note le lancement du système Cytek Aurora™ Evo et une croissance de 16 % des revenus récurrents, qui représentent désormais 32 % des revenus des 12 derniers mois.
L'entreprise a enregistré une perte nette de 5,6 millions de dollars et un EBITDA ajusté de 1,3 million de dollars. La trésorerie est restée solide à 262,0 millions de dollars. Cytek a racheté pour 4,5 millions de dollars d'actions ordinaires au cours du deuxième trimestre et a resserré ses prévisions de chiffre d'affaires pour 2025 à 196-205 millions de dollars, prévoyant une croissance comprise entre -2 % et +2 % par rapport à 2024.
Cytek Biosciences (Nasdaq: CTKB) meldete die Finanzergebnisse für das zweite Quartal 2025 mit einem Gesamtumsatz von 45,6 Millionen US-Dollar, was einem Rückgang von 2 % gegenüber dem zweiten Quartal 2024 entspricht. Das Unternehmen erweiterte seine installierte Basis auf 3.295 Instrumente und fügte im zweiten Quartal 2025 146 Einheiten hinzu. Zu den Highlights zählen die Einführung des Cytek Aurora™ Evo-Systems und ein Wachstum der wiederkehrenden Umsätze um 16 %, die nun 32 % des Umsatzes der letzten 12 Monate ausmachen.
Das Unternehmen verzeichnete einen Nettoverlust von 5,6 Millionen US-Dollar und ein bereinigtes EBITDA von 1,3 Millionen US-Dollar. Die Liquiditätsposition blieb mit 262,0 Millionen US-Dollar stark. Cytek kaufte im zweiten Quartal Aktien im Wert von 4,5 Millionen US-Dollar zurück und präzisierte seine Umsatzprognose für 2025 auf 196-205 Millionen US-Dollar, mit einem erwarteten Wachstum von -2 % bis +2 % gegenüber 2024.
- None.
- Total revenue decreased 2% year-over-year to $45.6M
- Gross profit margin declined to 52% from 55% in Q2 2024
- Operating loss increased to $10.6M from $8.5M year-over-year
- Lower product revenue in EMEA and APAC regions
- Adjusted EBITDA decreased to $1.3M from $2.9M year-over-year
Insights
Cytek reports mixed Q2 with 2% revenue decline but 16% growth in recurring revenue amid challenging market conditions.
Cytek Biosciences delivered $45.6 million in Q2 revenue, representing a
The recurring revenue segment, which includes service and reagents, showed impressive
Profitability metrics reveal challenges, with gross margin contracting to
The launch of the Aurora Evo system represents a strategic move to enhance their competitive position with improved capabilities like faster throughput and automated functions. This product refresh aims to accelerate adoption in a challenging market environment.
Liquidity remains strong with
The revised full-year guidance of
FREMONT, Calif., Aug. 06, 2025 (GLOBE NEWSWIRE) -- Cytek® Biosciences, Inc. (“Cytek Biosciences” or “Cytek”) (Nasdaq: CTKB), a leading cell analysis solutions company, today reported financial results for the second quarter ended June 30, 2025.
Second Quarter Highlights
- Total revenue for the second quarter of 2025 was
$45.6 million , representing a2% decrease compared to the second quarter of 2024 - Expanded to a total installed base of 3,295 Cytek instruments, adding 146 units in the second quarter of 2025, and representing
3% unit growth of Cytek FSP® instruments compared to the second quarter of 2024 - Launched the Cytek Aurora™ Evo system, a new full spectrum flow cytometer that improves on its flagship Cytek Aurora system and offers faster sample throughput, automated instrument startup and shutdown, enhanced resolution for small particle detection, and data harmonization
- Total recurring revenue, comprised of service and reagent revenues, grew
16% compared to the second quarter of 2024 and accounts for32% of last 12 months’ total revenue - Repurchased
$4.5 million of Cytek common stock in open market purchases during the second quarter of 2025
“The progress we achieved in the first half of this year is underscored by steady growth in our FSP unit placements, and in our recurring revenue businesses, despite a macro environment that remains challenging. I am also proud of our team’s continued focus on innovation and the launch of the Cytek Aurora Evo system, which we believe will accelerate broader adoption of our solutions,” said Dr. Wenbin Jiang, CEO of Cytek Biosciences.
Dr. Jiang continued, “Looking ahead, we remain focused on expanding our installed base globally, which supports our parallel goal of growing our recurring revenue through our service and reagent businesses. Further, we plan to continue strengthening our market leadership through innovation that redefines industry standards and creates new markets. We expect the instrument market to recover over time and are poised to emerge in an even stronger position than we are today with a focus on these longer-term growth drivers for our business.”
Second Quarter 2025 Financial Results
Total revenue for the second quarter of 2025 was
GAAP gross profit was
Operating expenses were
Research and development expenses were
Sales and marketing expenses were
General and administrative expenses were
Loss from operations in the second quarter of 2025 was
Adjusted EBITDA in the second quarter of 2025 was
Cash and marketable securities were
2025 Outlook
Cytek Biosciences narrows its 2025 revenue guidance of full year 2025 revenue to be in the range of
Webcast Information
Cytek will host a conference call to discuss its second quarter 2025 financial results on Wednesday, August 6, 2025, at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. A webcast of the conference call can be accessed at investors.cytekbio.com.
About Cytek Biosciences, Inc.
Cytek Biosciences (Nasdaq: CTKB) is a leading cell analysis solutions company advancing the next generation of cell analysis tools by delivering high-resolution, high-content and high-sensitivity cell analysis utilizing its patented Full Spectrum Profiling™ (FSP®) technology. Cytek’s novel approach harnesses the power of information within the entire spectrum of a fluorescent signal to achieve a higher level of multiplexing with precision and sensitivity. Cytek’s platform includes: its core FSP instruments, the Cytek Aurora™, Northern Lights™, Cytek Aurora™ CS and Cytek Aurora™ Evo systems; the Cytek Orion™ reagent cocktail preparation system; the Enhanced Small Particle™ (ESP™) detection technology; the flow cytometers and imaging products under the Amnis® and Guava® brands; and reagents, software and services to provide a comprehensive and integrated suite of solutions for its customers. Cytek is headquartered in Fremont, California with offices and distribution channels across the globe. More information about the company and its products is available at www.cytekbio.com.
Cytek’s products are for research use only and not for use in diagnostic procedures (other than Cytek’s Northern Lights-CLC system and certain reagents, which are available for clinical use only in China and the European Union).
Cytek, Full Spectrum Profiling, FSP, Cytek Aurora, Northern Lights, Enhanced Small Particle, ESP, Cytek Orion, Amnis and Guava are trademarks of Cytek Biosciences, Inc.
In addition to filings with the Securities and Exchange Commission (SEC), press releases, public conference calls and webcasts, Cytek uses its website (www.cytekbio.com), LinkedIn page and X (formerly Twitter) account as channels of distribution of information about its company, products, planned financial and other announcements, attendance at upcoming investor and industry conferences and other matters. Such information may be deemed material information and Cytek may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Cytek’s website, LinkedIn page, and X account in addition to following its SEC filings, news releases, public conference calls and webcasts.
Statement Regarding Use of Non-GAAP Financial Information
Cytek has presented certain financial information in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and also on a non-GAAP basis for the three-month period ended June 30, 2025 and June 30, 2024. Management believes that non-GAAP financial measures, including “Adjusted gross profit,” “Adjusted gross profit margin,” “Adjusted EBITDA,” and “Adjusted EBITDA excluding investment income,” referenced in this release, taken in conjunction with GAAP financial measures, provide useful information for both management and investors by excluding certain non-cash and other expenses that are not indicative of the company’s core operating results. Management uses non-GAAP measures to compare the company’s performance relative to forecasts and strategic plans and to benchmark the company’s performance externally against competitors. Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used to supplement an understanding of the company’s operating results as reported under U.S. GAAP. Cytek encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between GAAP and non-GAAP operating results are presented in the accompanying tables of this release.
Forward-Looking Statements
This press release and the related conference call, webcast and presentation contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. All statements other than statements of historical facts are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “might,” “will,” “should,” “would,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “believe,” “contemplate,” “estimate,” “intend,” “potential,” “predict,” “project,” “target,” or “continue” or the negatives of these terms or variation of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding Cytek’s ability to effectively navigate uncertain times and strengthen its competitive position as a market leader; Cytek’s expanding installed base and future recurring revenue growth in its service and reagent businesses; Cytek’s market opportunities and any expectations or assumptions thereto; Cytek’s future financial performance, including its outlook for fiscal year 2025 and expectations for 2025 total revenue; Cytek’s business strategies, product, and operational plans and market opportunities, as well as any expectations or assumptions thereto; and any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on Cytek and its financial performance. These statements are based on management’s current expectations, forecasts, beliefs, assumptions and information currently available to management. These statements also deal with future events and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. In addition, new risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements. Factors that could cause actual results to differ materially include global geopolitical, economic and market conditions; Cytek’s ability to manage the impacts of recent and future export controls and licensing requirements, tariffs and NIH funding policies on its business; Cytek’s ability to evaluate its prospects for future viability and predict future performance; Cytek’s ability to accurately forecast customer demand and adoption of its products; Cytek’s ability to recognize the anticipated benefits of collaborations; Cytek’s dependence on certain sole and single source suppliers; competition; market acceptance of Cytek’s current and potential products; Cytek’s ability to manage the growth and complexity of its organization, maintain relationships with customers and suppliers and hire and retain key employees; Cytek’s ability to manufacture its products in high-quality commercial quantities successfully and consistently to meet demand; Cytek’s ability to increase penetration in its existing markets and expand into adjacent markets; Cytek’s ability to secure additional distributors or maintain good relationships with its existing distributors; Cytek’s ability to successfully develop and introduce new products; Cytek’s ability to maintain, protect and enhance its intellectual property; Cytek’s ability to continue to stay in compliance with its material contractual obligations, applicable laws and regulations; and foreign currency exchange impacts. You should refer to the sections titled “Risk Factors” set forth in Cytek’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025 filed with the Securities and Exchange Commission (the “SEC”) on May 8, 2025 and in Cytek’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025 to be filed with the SEC on or about the date hereof, and other filings Cytek makes with the SEC from time to time for a discussion of important factors that may cause actual results to differ materially from those expressed or implied by Cytek’s forward-looking statements. Although Cytek believes that the expectations reflected in the forward-looking statements are reasonable, it cannot provide any assurance that these expectations will prove to be correct nor can it guarantee that the future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or occur. The forward-looking statements in this press release and the related conference call, webcast and presentation are based on information available to Cytek as of the date hereof, and Cytek disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing Cytek’s as of any date subsequent to the date of this press release. Information contained on, or that is reference or can be accessed through, our website does not constitute part of this document, and inclusions of any website addresses herein are inactive textual references only.
Media Contact:
Stephanie Olsen
Lages & Associates
(949) 453-8080
stephanie@lages.com
Investor Contact:
Paul Goodson
Head of Investor Relations
Cytek Biosciences
pgoodson@cytekbio.com
Cytek Biosciences, Inc. Consolidated Statements of Operations and Comprehensive Loss (unaudited) | ||||||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||||||
(In thousands, except share and per share data) | 2025 | 2024 | 2025 | 2024 | ||||||||||||
Revenue, net: | ||||||||||||||||
Product | $ | 31,415 | $ | 34,576 | $ | 59,525 | $ | 68,698 | ||||||||
Service | 14,187 | 12,041 | 27,534 | 22,779 | ||||||||||||
Total revenue, net | 45,602 | 46,617 | 87,059 | 91,477 | ||||||||||||
Cost of sales: | ||||||||||||||||
Product | 14,921 | 15,808 | 30,450 | 32,554 | ||||||||||||
Service | 6,814 | 5,373 | 12,585 | 10,474 | ||||||||||||
Total cost of sales | 21,735 | 21,181 | 43,035 | 43,028 | ||||||||||||
Gross profit | 23,867 | 25,436 | 44,024 | 48,449 | ||||||||||||
Operating expenses: | ||||||||||||||||
Research and development | 8,826 | 10,001 | 18,550 | 19,796 | ||||||||||||
Sales and marketing | 12,134 | 12,268 | 24,643 | 24,811 | ||||||||||||
General and administrative | 13,531 | 11,694 | 26,429 | 23,102 | ||||||||||||
Total operating expenses | 34,491 | 33,963 | 69,622 | 67,709 | ||||||||||||
Loss from operations | (10,624 | ) | (8,527 | ) | (25,598 | ) | (19,260 | ) | ||||||||
Other income (expense): | ||||||||||||||||
Interest expense | (414 | ) | (134 | ) | (705 | ) | (575 | ) | ||||||||
Interest income | 555 | 1,416 | 1,063 | 2,775 | ||||||||||||
Other income, net | 3,708 | 59 | 7,199 | 881 | ||||||||||||
Total other income, net | 3,849 | 1,341 | 7,557 | 3,081 | ||||||||||||
Loss before income taxes | (6,775 | ) | (7,186 | ) | (18,041 | ) | (16,179 | ) | ||||||||
(Benefit from) provision for income taxes | (1,192 | ) | 3,248 | $ | (1,056 | ) | 424 | |||||||||
Net loss | $ | (5,583 | ) | $ | (10,434 | ) | $ | (16,985 | ) | $ | (16,603 | ) | ||||
Net loss, basic and diluted | $ | (5,583 | ) | $ | (10,434 | ) | $ | (16,985 | ) | $ | (16,603 | ) | ||||
Net loss per share, basic | $ | (0.04 | ) | $ | (0.08 | ) | $ | (0.13 | ) | $ | (0.13 | ) | ||||
Net loss per share, diluted | $ | (0.04 | ) | $ | (0.08 | ) | $ | (0.13 | ) | $ | (0.13 | ) | ||||
Weighted-average shares used in calculating net loss per share, basic | 126,934,294 | 131,440,486 | $ | 127,632,999 | 131,180,734 | |||||||||||
Weighted-average shares used in calculating net loss per share, diluted | 126,934,294 | 131,440,486 | $ | 127,632,999 | 131,180,734 | |||||||||||
Comprehensive loss: | ||||||||||||||||
Net loss | $ | (5,583 | ) | $ | (10,434 | ) | $ | (16,985 | ) | $ | (16,603 | ) | ||||
Foreign currency translation adjustment, net of tax | 603 | 1,375 | $ | 43 | 1,131 | |||||||||||
Unrealized loss on marketable securities | (33 | ) | (16 | ) | $ | (98 | ) | (51 | ) | |||||||
Net comprehensive loss | $ | (5,013 | ) | $ | (9,075 | ) | $ | (17,040 | ) | $ | (15,523 | ) |
Cytek Biosciences, Inc. Consolidated Balance Sheets | ||||||||
(In thousands, except share and per share data) | June 30, 2025 | December 31, 2024 | ||||||
(unaudited) | (audited) | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 75,470 | $ | 98,716 | ||||
Restricted cash | — | 29 | ||||||
Marketable securities | 186,552 | 179,145 | ||||||
Trade accounts receivable, net | 56,232 | 60,588 | ||||||
Inventories | 49,487 | 43,893 | ||||||
Prepaid expenses and other current assets | 15,084 | 14,075 | ||||||
Total current assets | $ | 382,825 | $ | 396,446 | ||||
Deferred income tax assets, noncurrent | 35,765 | 33,374 | ||||||
Property and equipment, net | 18,352 | 17,962 | ||||||
Operating lease right-of-use assets | 16,387 | 10,168 | ||||||
Goodwill | 16,707 | 16,663 | ||||||
Intangible assets, net | 18,601 | 20,128 | ||||||
Other noncurrent assets | 4,683 | 4,759 | ||||||
Total assets | $ | 493,320 | $ | 499,500 | ||||
Liabilities and stockholders’ equity | ||||||||
Current liabilities: | ||||||||
Trade accounts payable | 6,853 | $ | 5,529 | |||||
Legal settlement liability, current | 1,968 | 1,705 | ||||||
Accrued expenses | 21,604 | 21,443 | ||||||
Other current liabilities | 14,717 | 13,494 | ||||||
Deferred revenue, current | 28,128 | 25,492 | ||||||
Total current liabilities | 73,270 | 67,663 | ||||||
Legal settlement liability, noncurrent | 8,477 | 9,036 | ||||||
Deferred revenue, noncurrent | 16,625 | 16,098 | ||||||
Operating lease liability, noncurrent | 14,119 | 7,552 | ||||||
Long term debt | 791 | 1,050 | ||||||
Other noncurrent liabilities | 2,481 | 2,364 | ||||||
Total liabilities | $ | 115,763 | $ | 103,763 | ||||
Stockholders’ equity: | ||||||||
Common stock, | 127 | 129 | ||||||
Additional paid-in capital | 429,652 | 430,791 | ||||||
Accumulated deficit | (52,184 | ) | (35,199 | ) | ||||
Accumulated other comprehensive (loss) gain | (38 | ) | 16 | |||||
Total stockholders’ equity | $ | 377,557 | $ | 395,737 | ||||
Total liabilities and stockholders’ equity | $ | 493,320 | $ | 499,500 |
Cytek Biosciences, Inc. Reconciliation of GAAP to Non-GAAP Measures (Unaudited) | ||||||||
Three months ended | ||||||||
(In thousands) | June 30, 2025 | June 30, 2024 | ||||||
(Unaudited) | (Unaudited) | |||||||
GAAP Gross profit | $ | 23,867 | $ | 25,436 | ||||
Stock based compensation | $ | 1,110 | $ | 1,200 | ||||
Amortization of acquisition-related intangible assets | $ | 481 | $ | 503 | ||||
Non-GAAP Adjusted gross profit | $ | 25,458 | $ | 27,139 | ||||
GAAP Gross margin | 52 | % | 55 | % | ||||
Non-GAAP Adjusted gross margin | 56 | % | 58 | % | ||||
GAAP Net income | $ | (5,583 | ) | $ | (10,434 | ) | ||
Depreciation and amortization | $ | 2,988 | $ | 2,479 | ||||
Provision for (benefit from) income taxes | $ | (1,192 | ) | $ | 3,248 | |||
Interest income | $ | (555 | ) | $ | (1,416 | ) | ||
Interest expense | $ | 414 | $ | 134 | ||||
Foreign currency exchange loss (gain) | $ | (1,593 | ) | $ | 1,784 | |||
Stock based compensation | $ | 6,791 | $ | 7,152 | ||||
Non-GAAP Adjusted EBITDA | $ | 1,270 | $ | 2,947 | ||||
Investment income | $ | (2,048 | ) | $ | (1,901 | ) | ||
Non-GAAP Adjusted EBITDA excluding investment income | $ | (778 | ) | $ | 1,046 |
