Cytek Biosciences reports Q1 EPS (9c) vs. (5c) last year

Reports Q1 revenue $41.46M, consensus $42.66M. “I am encouraged by the resilience of our portfolio amidst a challenging macroeconomic backdrop, exemplified by double-digit revenue growth in Cytek cell sorters and our service business, and strength in the APAC region,” said Wenbin Jiang CEO of Cytek Bioscience. “We have established a durable foundation with an expanding installed base to drive recurring revenue growth in our service and reagent businesses. This, combined with our global diversification in sales, service and manufacturing and a focus on newer and rapidly growing products, enables us to effectively navigate these uncertain times. I further believe we are well positioned to emerge from this period even stronger than we are today with our industry-leading cell analysis portfolio, a strong balance sheet, and our investments to strengthen our competitive position as a market leader.”