Cytek Biosciences posts Q1 2026 results, widens loss

Cytek Biosciences reported mixed first quarter 2026 results.

Rhea-AI Filing Summary

Cytek Biosciences reported mixed first quarter 2026 results. Total revenue reached $44.1 million, up 6% from a year earlier, driven by strong U.S. instrument performance and growing service and reagent revenue. GAAP gross profit was $21.3 million with a 48% gross margin, slightly below the prior year.

Operating expenses rose 13% to $39.7 million, mainly from a 43% jump in general and administrative costs tied to litigation, consulting and bad debt reserves, while research and development and sales and marketing declined modestly. Net loss widened to $18.9 million, or $0.15 per share, and adjusted EBITDA loss increased to $9.1 million.

Cytek ended March 31, 2026 with $262.2 million in cash and marketable securities, slightly above year-end. The company reaffirmed its 2026 revenue outlook of $205 million to $212 million, implying 2% to 5% growth over full-year 2025.

Insights

Equity research analyst

Cytek shows modest revenue growth but significantly higher losses and cautious full-year guidance.

Cytek Biosciences grew Q1 2026 revenue to $44.1 million, a 6% year-over-year increase, helped by U.S. demand and rising service and reagent sales. Gross margin slipped to 48%, reflecting a slightly less profitable mix or higher costs.

Operating expenses rose to $39.7 million, up 13%, with general and administrative spending jumping 43% largely from litigation-related and other expenses. This spending pushed net loss to $18.9 million and non-GAAP adjusted EBITDA loss to $9.1 million, indicating profitability moved further away despite revenue growth.

Liquidity remains solid, with $262.2 million in cash and marketable securities as of March 31, 2026. Management reaffirmed 2026 revenue guidance of $205–$212 million, or 2–5% growth over 2025, signaling expectations for only modest top-line expansion while the company continues investing in products, people and infrastructure.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Q1 2026 revenue: $44.1 million GAAP gross margin: 48% Operating expenses: $39.7 million +5 more

8 metrics

Q1 2026 revenue $44.1 million Up 6% vs Q1 2025

GAAP gross margin 48% Q1 2026 vs 49% in Q1 2025

Operating expenses $39.7 million Q1 2026, up 13% year over year

Net loss $18.9 million Q1 2026 vs $11.4 million in Q1 2025

Adjusted EBITDA loss $9.1 million Q1 2026 vs $3.3 million in Q1 2025

Cash and marketable securities $262.2 million As of March 31, 2026

2026 revenue guidance range $205–$212 million Represents 2–5% growth over 2025

General and administrative expenses $18.5 million Q1 2026, up 43% vs Q1 2025

Key Terms

Adjusted EBITDA, Adjusted gross profit margin, Full Spectrum Profiling, deferred revenue, +1 more

5 terms

Adjusted EBITDA financial

"Adjusted EBITDA loss in the first quarter of 2026 was $9.1 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

Adjusted gross profit margin financial

"Adjusted gross profit margin, after adjusting for stock-based compensation expense"

Adjusted gross profit margin shows how much money a company keeps from sales after subtracting the direct costs of making its products or services, but it removes one-time or unusual charges to show the underlying performance. Think of it as the profit rate of a lemonade stand after paying for ingredients, but with a one-off broken juicer or a special sale taken out so you can see how the stand normally performs; investors use it to compare profitability without distortions.

Full Spectrum Profiling technical

"utilizing its patented Full Spectrum Profiling™ (FSP®) technology"

Full spectrum profiling is a comprehensive analysis that measures many types of biological signals—such as genes, proteins, metabolites and other markers—across a sample to build a broad, detailed molecular picture. For investors, it matters because that wide-ranging view can uncover new drug targets, improve predictions of which therapies will work, and support products that personalize care, much like scanning an entire toolbox instead of checking a single tool.

deferred revenue financial

"Deferred revenue, current | | | 30,032 | | | | 28,504"

Cash a company has already received for goods or services it has promised but not yet delivered; it's recorded as a liability because the company still owes that product, service, or future revenue recognition. For investors, deferred revenue signals upcoming work or deliveries that will convert into reported sales over time and affects short-term obligations, cash flow quality, and how quickly a firm can grow recognized revenue—think of it like prepaid subscriptions or gift cards a business must honor later.

non-GAAP financial measures financial

"Management believes that non-GAAP financial measures, including “Adjusted gross profit,”"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

Earnings Snapshot

Revenue: $44.1 million · Guidance included

Q1 2026

Revenue $44.1 million +6% YoY

Net loss $18.9 million

GAAP gross margin 48%

Adjusted EBITDA loss $9.1 million

Guidance

2026 revenue expected between $205 million and $212 million, representing 2% to 5% growth over full year 2025.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did Cytek Biosciences (CTKB) perform financially in Q1 2026?

Cytek Biosciences delivered Q1 2026 revenue of $44.1 million, up 6% year over year. Growth was driven by strong U.S. instrument sales plus higher service and reagent revenue, though profitability declined as operating expenses increased and net loss widened compared to Q1 2025.

What were Cytek Biosciences (CTKB) profits and losses in Q1 2026?

Cytek Biosciences reported a Q1 2026 net loss of $18.9 million, or $0.15 per share. Loss from operations was $18.5 million, and adjusted EBITDA loss reached $9.1 million, both larger than the prior year as higher general and administrative expenses outweighed modest revenue growth.

What revenue guidance did Cytek Biosciences (CTKB) give for full-year 2026?

Cytek Biosciences reaffirmed 2026 revenue guidance between $205 million and $212 million. This outlook represents expected growth of 2% to 5% over full-year 2025 revenue, assuming current foreign currency exchange rates remain unchanged for the rest of the year.

How strong is Cytek Biosciences’ (CTKB) balance sheet after Q1 2026?

Cytek Biosciences ended March 31, 2026 with $262.2 million in cash and marketable securities. This was slightly higher than $261.5 million at December 31, 2025, indicating the company maintained a solid liquidity position despite reporting a larger quarterly net loss.

How did Cytek Biosciences’ (CTKB) margins and expenses trend in Q1 2026?

Cytek’s GAAP gross margin was 48% in Q1 2026, down from 49% a year earlier, while non-GAAP adjusted gross margin was 51%. Operating expenses rose 13% to $39.7 million, led by a 43% increase in general and administrative costs tied to litigation and related items.

What non-GAAP measures did Cytek Biosciences (CTKB) highlight for Q1 2026?

Cytek emphasized non-GAAP adjusted gross profit and adjusted EBITDA loss for Q1 2026. Adjusted gross profit was $22.5 million with a 51% margin, and adjusted EBITDA loss was $9.1 million, excluding items like stock-based compensation, amortization of acquisition-related intangibles and foreign currency impacts.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/07/2026 - 04:14 PM Learn about SEC filing dates

false 0001831915 0001831915 2026-05-07 2026-05-07

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

May 7, 2026

Cytek Biosciences, Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-40632		47-2547526
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

47215 Lakeview Boulevard Fremont, California		94538
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (877) 922-9835

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.001 per share		CTKB		Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On May 7, 2026, Cytek Biosciences, Inc. issued a press release announcing its financial results for the quarter ended March 31, 2026. The press release is being furnished as Exhibit 99.1.

The information furnished in this Current Report under Item 2.02 and the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description of Exhibit
99.1		Press release dated May 7, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				Cytek Biosciences, Inc.
Date: May 7, 2026				By:		/s/ Wenbin Jiang
						Wenbin Jiang, Ph.D. President and Chief Executive Officer

Exhibit 99.1

Cytek Biosciences Reports First Quarter 2026 Financial Results

FREMONT, Calif., May 7, 2026 (GLOBE NEWSWIRE) – Cytek Biosciences, Inc. (“Cytek Biosciences” or “Cytek”) (Nasdaq: CTKB), a leading cell analysis solutions company, today reported financial results for the first quarter ended March 31, 2026.

Recent Highlights

• Total revenue for the first quarter of 2026 was $44.1 million, representing a 6% increase compared to the first quarter of 2025

• Service revenue for the first quarter of 2026 was $15.4 million, representing a 15% increase compared to the first quarter of 2025

• Total recurring revenue, comprised of service and reagent revenues, reached $18.4 million in the first quarter. On a trailing-12-month basis, recurring revenue represented 35% of total revenue, up from 31% on a trailing-12-month basis as of the first quarter of 2025

• Expanded to a total installed base of 3,789 Cytek instruments, adding 125 units in the first quarter of 2026

“Our first quarter growth stands out in a market that continues to experience global challenges, underscoring Cytek’s technology leadership, the growth of our installed base, and the expansion of our recurring revenue streams,” said Wenbin Jiang, CEO of Cytek Biosciences. “Rising instrument placements are expanding our installed base and driving higher demand for reagents and service, making recurring revenue an increasing share of total revenue. With focused execution and continued investment in our products, people, and infrastructure, we are well positioned for the year ahead.”

First Quarter 2026 Financial Results

Total revenue for the first quarter of 2026 was $44.1 million, a 6% increase compared to the first quarter of 2025. The increase in revenue was driven by strong revenue performance in the US and continued growth in service and reagent revenue worldwide.

GAAP gross profit was $21.3 million for the first quarter of 2026, a 5% increase compared to the first quarter of 2025. GAAP gross profit margin was 48% in the first quarter of 2026 compared to 49% in the first quarter of 2025. Adjusted gross profit margin, after adjusting for stock-based compensation expense and amortization of acquisition-related intangibles, was 51% in the first quarter of 2026 compared to 52% in the first quarter of 2025.

Operating expenses were $39.7 million for the first quarter of 2026, a 13% increase compared to the first quarter of 2025 due to increased general and administrative expenses, partially offset by a reduction in sales and marketing and research and development expenses.

Research and development expenses were $9.6 million for the first quarter of 2026, a 1% decrease compared to the first quarter of 2025.

Sales and marketing expenses were $11.6 million for the first quarter of 2026, a 7% decrease compared to the first quarter of 2025.

General and administrative expenses were $18.5 million for the first quarter of 2026, increasing 43% compared to the first quarter of 2025 due primarily to litigation-related expenses, outside consulting expenses and bad debt reserves.

Loss from operations in the first quarter of 2026 was $18.5 million compared to loss from operations of $15.0 million in the first quarter of 2025. Net loss in the first quarter of 2026 was $18.9 million compared to a net loss of $11.4 million in the first quarter of 2025.

Adjusted EBITDA loss in the first quarter of 2026 was $9.1 million compared to an adjusted EBITDA loss of $3.3 million in the first quarter of 2025, after adjusting for stock-based compensation expense and foreign currency exchange impacts.

Cash and marketable securities totaled $262.2 million as of March 31, 2026 compared to $261.5 million as of December 31, 2025, an increase of $0.7 million.

2026 Outlook

Cytek Biosciences reaffirms its 2026 revenue guidance to be in the range of $205 million to $212 million, representing growth of 2% to 5% over full year 2025, assuming no change from current currency exchange rates.

Webcast Information

Cytek will host a conference call to discuss its first quarter 2026 financial results on Thursday, May 7, 2026, 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 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 March 31, 2026 and March 31, 2025. Management believes that non-GAAP financial measures, including “Adjusted gross profit,” “Adjusted gross profit margin,” and “Adjusted EBITDA loss,” 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 contains 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, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negatives of these terms or variations 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, without limitation, statements regarding Cytek’s expanding installed base and future recurring revenue growth in its service and reagent businesses; Cytek’s business strategy and continued investment in its products, people, and infrastructure; Cytek’s market opportunities; and Cytek’s future financial performance, including its outlook for fiscal year 2026 and expectations for 2026 total revenue. 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 section titled “Risk Factors” set forth in Cytek’s most recent Annual Report on Form 10-K filed with the SEC on February 26, 2026, Cytek’s Quarterly Report on Form 10-Q 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 views as of any date subsequent to the date of this press release. Information contained on, or that is referenced 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 Balance Sheets

(Unaudited)

(In thousands, except share and per share data)		March 31, 2026				December 31, 2025
Assets
Current assets:
Cash and cash equivalents		$	65,665			$	90,853
Marketable securities			196,560				170,676
Trade accounts receivable, net			51,903				62,509
Inventories			49,791				48,428
Prepaid expenses and other current assets			15,383				19,530
Total current assets			379,302				391,996
Property and equipment, net			20,469				18,009
Operating lease right-of-use assets			10,643				11,315
Goodwill			16,689				16,697
Intangible assets, net			15,704				16,821
Other noncurrent assets			6,306				6,704
Total assets		$	449,113			$	461,542
Liabilities and stockholders’ equity
Current liabilities:
Trade accounts payable		$	6,741			$	6,410
Legal settlement liability, current			2,208				2,495
Accrued expenses			19,781				23,417
Other current liabilities			22,173				16,978
Deferred revenue, current			30,032				28,504
Total current liabilities			80,935				77,804
Legal settlement liability, noncurrent			6,637				6,786
Deferred revenue, noncurrent			17,672				18,339
Operating lease liability, noncurrent			13,441				14,042
Long-term debt			386				525
Other noncurrent liabilities			2,398				2,307
Total liabilities			121,469				119,803
Stockholders’ equity:
Common stock, $0.001 par value; 1,000,000,000 authorized shares as of March 31, 2026 and December 31, 2025, respectively; 129,142,587 and 128,550,136 issued and outstanding shares as of March 31, 2026 and December 31, 2025, respectively			129				129
Additional paid-in capital			445,750				441,107
Accumulated deficit			(120,604	)			(101,738	)
Accumulated other comprehensive gain			2,369				2,241
Total stockholders’ equity			327,644				341,739
Total liabilities and stockholders’ equity		$	449,113			$	461,542

Cytek Biosciences, Inc.

Consolidated Statements of Operations and Comprehensive Loss

(Unaudited)

		Three months ended March 31,
(In thousands, except share and per share data)		2026				2025
Revenue, net:
Product		$	28,779			$	28,110
Service			15,356				13,347
Total revenue, net			44,135				41,457
Cost of sales:
Product			15,921				15,529
Service			6,960				5,771
Total cost of sales			22,881				21,300
Gross profit			21,254				20,157
Operating expenses:
Research and development			9,604				9,725
Sales and marketing			11,646				12,509
General and administrative			18,467				12,898
Total operating expenses			39,717				35,132
Loss from operations			(18,463	)			(14,975	)
Other income (expense):
Interest expense			(262	)			(291	)
Interest income			787				508
Other income, net			565				3,492
Total other income, net			1,090				3,709
Loss before income taxes			(17,373	)			(11,266	)
Provision for income taxes			1,493				136
Net loss			(18,866	)			(11,402	)
Net loss, basic and diluted		$	(18,866	)		$	(11,402	)
Net loss per share, basic		$	(0.15	)		$	(0.09	)
Net loss per share, diluted		$	(0.15	)		$	(0.09	)
Weighted-average shares used in calculating net loss per share, basic			128,704,934				128,339,481
Weighted-average shares used in calculating net loss per share, diluted			128,704,934				128,339,481
Comprehensive loss:
Net loss		$	(18,866	)		$	(11,402	)
Foreign currency translation adjustment, net of tax			328				(560	)
Unrealized loss on marketable securities			(201	)			(65	)
Net comprehensive loss		$	(18,739	)		$	(12,027	)

Cytek Biosciences, Inc.

Reconciliation of GAAP to Non-GAAP Measures

(Unaudited)

		Three months ended
(In thousands)		March 31, 2026				March 31, 2025
		(Unaudited)				(Unaudited)
GAAP gross profit		$	21,254			$	20,157
Stock based compensation			729				1,086
Amortization of acquisition-related intangible assets			494				493
Non-GAAP adjusted gross profit		$	22,477			$	21,736
GAAP gross margin			48	%			49	%
Non-GAAP adjusted gross margin			51	%			52	%
GAAP net income		$	(18,866	)		$	(11,402	)
Depreciation and amortization			2,812				2,881
Provision for (benefit from) income taxes			1,493				136
Interest income			(787	)			(508	)
Interest expense			262				291
Foreign currency exchange loss (gain)			1,152				(1,278	)
Stock based compensation			4,861				6,629
Non-GAAP adjusted EBITDA		$	(9,073	)		$	(3,251	)
Investment income			(1,629	)			(2,261	)
Non-GAAP adjusted EBITDA excluding investment income		$	(10,702	)		$	(5,512	)

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EX-99.1 96.7 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 16.8 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 10.6 KB