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CTKB

Cytek Biosciences, Inc.

CTKB

Cytek Biosciences, Inc. • NASDAQ
$5.65 ▲ 0.89% (+0.05)
Market Cap $722.42 M
52w High $7.30
52w Low $2.37
Dividend Yield 0%
P/E -51.36
Volume 658.45K
Outstanding Shares 127.86M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $52.293M ▲ $36.743M ▲ $-5.478M ▲ -10.476% ▲ $-0.04 ▲ $-4.215M ▼
Q2-2025 $45.602M ▲ $34.491M ▼ $-5.583M ▲ -12.243% ▲ $-0.044 ▲ $-3.373M ▲
Q1-2025 $41.457M ▼ $35.132M ▲ $-11.402M ▼ -27.503% ▼ $-0.09 ▼ $-8.091M ▼
Q4-2024 $57.476M ▲ $30.666M ▼ $9.643M ▲ 16.777% ▲ $0.074 ▲ $-2.453M ▼
Q3-2024 $51.5M $33.253M $941K 1.827% $0.007 $3.085M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $261.734M ▼ $494.919M ▲ $116.348M ▲ $378.571M ▲
Q2-2025 $262.022M ▼ $493.32M ▲ $115.763M ▲ $377.557M ▼
Q1-2025 $265.612M ▼ $482.596M ▼ $102.973M ▼ $379.623M ▼
Q4-2024 $277.861M ▲ $499.5M ▲ $103.763M ▼ $395.737M ▲
Q3-2024 $277.777M $491.226M $105.763M $385.463M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-5.478M ▲ $-3.898M ▼ $18.92M ▲ $1.941M ▲ $17.811M ▲ $-4.553M ▼
Q2-2025 $-5.583M ▲ $108K ▲ $-16.413M ▼ $-2.602M ▲ $-19.829M ▼ $-1.469M ▼
Q1-2025 $-11.402M ▼ $-125K ▼ $9.452M ▲ $-11.545M ▼ $-3.446M ▲ $-976K ▼
Q4-2024 $9.643M ▲ $1.997M ▼ $-63.433M ▼ $-3.64M ▲ $-63.558M ▼ $1.094M ▼
Q3-2024 $940K $13.221M $-15.809M $-12.084M $-15.615M $12.413M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $80.00M ▲$30.00M ▼$30.00M ▲$40.00M ▲
Service
Service
 $0 ▲$40.00M ▲$40.00M ▲$40.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has risen steadily each year, showing that demand for Cytek’s systems and related products continues to grow even in a tougher life-science spending environment. Gross profitability looks healthy and relatively stable, which suggests the core products are attractively priced and costed. The pressure is further down the income statement: operating profit has slipped from small profits earlier in the period to small losses recently, indicating that spending on R&D, sales infrastructure, and overhead is running ahead of revenue growth. Net income is now slightly negative after being around breakeven or modestly positive, so the business is still in a scale-up and investment phase rather than a clearly profitable, mature phase. Overall, the income statement reflects a company growing well but with fragile profitability that depends on disciplined cost control and sustained top-line momentum.

Balance Sheet

Balance Sheet The balance sheet looks generally solid for a young, growth-focused medical device company. Total assets have expanded meaningfully over time, reflecting investment in the business and acquisitions. Shareholders’ equity has moved from a weak base to a solid positive position, suggesting a cleaner capital structure after the IPO and retained capital to support growth. Debt levels are very low, which reduces financial risk and gives management flexibility during slower demand periods. Cash, while down from earlier peak levels, still provides a meaningful cushion, but ongoing small losses mean it will be important to monitor how quickly that cushion is being used over the next few years.

Cash Flow

Cash Flow Cash generation is close to breakeven but trending in a constructive direction. Operating cash flow has moved from slightly negative to modestly positive, implying that the underlying business is starting to support itself without heavy reliance on external financing. Free cash flow has been positive in most years, helped by relatively low capital spending needs, which is typical of an instrument-and-reagents model rather than heavy manufacturing. The company appears to be managing investments carefully, favoring incremental, disciplined spending over large, risky capital projects. That said, cash flows are still modest, so any downturn in orders or rise in costs could quickly tip the business back into cash burn.

Competitive Edge

Competitive Edge Cytek occupies a differentiated niche within cell analysis, built around its spectral flow cytometry platform and Full Spectrum Profiling technology. This approach offers researchers more information from each sample and more flexibility in experiment design, which is a meaningful advantage over traditional systems. The company has strengthened its position by offering a full ecosystem—analyzers, sorters, reagents, and software—making it harder for customers to switch once embedded. Acquisitions of complementary product lines broaden its reach from entry-level users to advanced imaging applications, deepening its presence across the research workflow. The main competitive risks come from larger, well-funded life science tools companies that may accelerate their own spectral offerings, as well as from budget pressures at research institutions and hospitals that can slow instrument purchasing cycles.

Innovation and R&D

Innovation and R&D Innovation sits at the center of Cytek’s strategy and is likely where much of its spending is focused. The flagship Aurora and Northern Lights systems, the newer Aurora Evo with higher throughput and automation, and the build-out of proprietary reagents and cloud-based software all point to an aggressive roadmap. This combination of instruments, optimized reagents, and data tools is designed to create recurring revenue and lock-in, not just one-time hardware sales. The company is also pushing into clinical and translational markets, leveraging regulatory approvals in key regions, which could open larger, more stable demand if adoption scales. The flip side is that high R&D intensity, regulatory hurdles, and long sales cycles in clinical markets can strain profitability and cash if new products do not ramp as quickly as planned.

Summary

Cytek Biosciences shows a classic profile of an emerging medical technology company: strong revenue growth, a distinct technological edge, and a still-developing profit and cash flow profile. The income statement underscores that the company is investing heavily in growth and innovation, with only thin, sometimes negative, bottom-line results so far. The balance sheet and cash position are reassuring, with low debt and a decent liquidity buffer, giving the company time to execute its strategy. Technologically, Cytek appears well ahead in spectral flow cytometry and is building a sticky ecosystem that could support durable competitive advantages, especially as it moves deeper into reagents, software, and clinical use cases. Future performance will likely hinge on how well management converts this innovation and early market share into consistent profitability, while navigating competitive responses and cyclicality in research and clinical spending.

NEWS

November 12, 2025 · 5:00 PM UTC

TIME Recognizes Cytek® Biosciences as One of America's Growth Leaders of 2026

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November 6, 2025 · 5:00 PM UTC

Cytek® Muse® Micro Cell Analyzer Wins BioTech Breakthrough Award for Drug Discovery Solution of the Year

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November 6, 2025 · 4:05 PM UTC

Cytek Biosciences to Participate in Upcoming Investor Conferences

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November 5, 2025 · 4:05 PM UTC

Cytek Biosciences Reports Third Quarter 2025 Financial Results

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October 29, 2025 · 5:00 PM UTC

Cytek® Biosciences Deepens Commitment to Expanding Access to Flow Cytometry

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