Cytek Biosciences (CTKB)
NASDAQ:CTKB
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Cytek Biosciences
(NASDAQ:CTKB)
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Rating:52Neutral
Price Target:
$4.00
▼(-12.66% Downside)
Action:ReiteratedDate:02/27/26
The score is held back primarily by deteriorating profitability and inconsistent cash generation, reinforced by weak technical momentum. These are partially offset by a strong low-debt balance sheet and an earnings call that points to modest growth and continued positive adjusted EBITDA, driven by recurring revenue and installed base expansion, despite margin and cost headwinds.
Positive Factors
Low leverage / strong balance sheet
Very low leverage (debt-to-equity ~0.04) and sizeable cash reserves provide durable financial flexibility. This reduces refinancing risk, supports R&D and manufacturing transitions, and permits strategic investments or buybacks during cyclical demand slowdowns without relying on external debt.
Negative Factors
Gross margin compression
Material gross margin erosion from tariffs, higher material costs and duplicate manufacturing overhead related to an overseas production transition is a structural headwind. Sustained margin pressure reduces incremental cash flow from instrument and consumable sales, making long-term profitability harder to achieve.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Very low leverage (debt-to-equity ~0.04) and sizeable cash reserves provide durable financial flexibility. This reduces refinancing risk, supports R&D and manufacturing transitions, and permits strategic investments or buybacks during cyclical demand slowdowns without relying on external debt.
Read all positive factors
Cytek Biosciences (CTKB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$555.34M
Dividend YieldN/A
Average Volume (3M)786.22K
Price to Earnings (P/E)―
Beta (1Y)1.30
Revenue Growth-2.18%
EPS Growth-30.96%
CountryUS
Employees663
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.34
Shares Outstanding128,550,140
10 Day Avg. Volume891,084
30 Day Avg. Volume786,220
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.89
Price to Sales (P/S)3.20
P/FCF Ratio-73.56
Enterprise Value/Market Cap0.90
Enterprise Value/Revenue2.47
Enterprise Value/Gross Profit4.76
Enterprise Value/Ebitda-31.21
Forecast
1Y Price Target
$6.25Price Target Upside36.46% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.19
Revenue Forecast (FY)$208.26M
Cytek Biosciences Business Overview & Revenue Model
Company Description
Cytek Biosciences, Inc., a cell analysis solutions company, provides cell analysis tools that facilitates scientific advances in biomedical research and clinical applications. It offers aurora and northern lights systems, which are spectrum flow c...
How the Company Makes Money
Cytek primarily makes money by selling flow cytometry instruments and generating recurring revenue from the installed base. Key revenue streams include: (1) Instrument sales: One-time revenue from sales of spectral flow cytometry systems (e.g., Au...
Cytek Biosciences Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Neutral
The call balances meaningful operational and commercial progress (record Q4 revenue, installed base growth, strong recurring revenue, reagent and service momentum, product launches and digital adoption) against significant near-term financial and margin headwinds (GAAP net losses amplified by a large deferred tax valuation allowance, margin compression from tariffs and manufacturing transition, increased operating expenses and lower adjusted EBITDA). Management provided cautious optimism with 2026 guidance ($205M–$212M) reflecting continued recovery but retained contingencies for uncertainty.Positive Updates
Q4 Record Revenue and Sequential Acceleration
Fourth quarter 2025 revenue of $62.1 million, up 8% year-over-year, the highest revenue historically recorded by Cytek; company achieved sequential acceleration through 2025 (Q1 -8% YoY, Q2 -2%, Q3 +2%, Q4 +8%).
Negative Updates
Margin Compression
GAAP gross margin declined to 53% in Q4 2025 from 59% in Q4 2024; adjusted gross margin fell to 55% in Q4 2025 from 61% prior year. Full year GAAP gross margin declined to 52% in 2025 from 55% in 2024; adjusted gross margin declined to 55% from 59%.
Read all updates
Q4-2025 Updates
Positive
Negative
Q4 Record Revenue and Sequential Acceleration
Fourth quarter 2025 revenue of $62.1 million, up 8% year-over-year, the highest revenue historically recorded by Cytek; company achieved sequential acceleration through 2025 (Q1 -8% YoY, Q2 -2%, Q3 +2%, Q4 +8%).
Read all positive updates
Company Guidance
Cytek guided 2026 revenue of $205–$212 million on a constant‑currency basis (implying roughly 2%–5% growth versus 2025's $201.5M), explicitly not assuming any material tariff benefit, and expects to sustain positive adjusted EBITDA (2025 adjusted EBITDA was $5M); the outlook assumes continued strong APAC instrument growth and rebounds in U.S. and EMEA, continued rapid expansion in recurring lines (recurring revenue was 34% of total and grew 21% YoY in 2025), robust service and reagent momentum (service grew ~21% for 2025 and 25% in Q4; reagents grew >25% for 2025 and >20% in Q4), a modest/flat instrument revenue profile, and builds on Q4 strength ($62.1M, +8% YoY), an installed base of 3,664 units (added 208 in Q4), and a Cytek Cloud user base >24,000 (up >50% YoY).Cytek Biosciences Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
72
Positive
Cash Flow
49
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 201.49M | 200.45M | 193.01M | 164.04M | 127.95M |
| Gross Profit | 104.46M | 111.11M | 109.43M | 100.97M | 79.14M |
| EBITDA | -17.39M | -10.03M | -4.41M | 9.49M | 8.92M |
| Net Income | -66.54M | -6.02M | -12.15M | 2.58M | 3.00M |
Balance Sheet | |||||
| Total Assets | 461.54M | 499.50M | 494.46M | 519.48M | 463.31M |
| Cash, Cash Equivalents and Short-Term Investments | 261.53M | 277.86M | 262.41M | 341.15M | 364.62M |
| Total Debt | 33.02M | 17.02M | 14.14M | 18.09M | 0.00 |
| Total Liabilities | 119.80M | 103.76M | 101.39M | 93.93M | 57.92M |
| Stockholders Equity | 341.74M | 395.74M | 393.06M | 425.30M | 405.04M |
Cash Flow | |||||
| Free Cash Flow | -8.77M | 21.85M | 454.00K | -22.10M | 266.00K |
| Operating Cash Flow | -4.69M | 25.38M | 5.28M | -12.23M | 4.63M |
| Investing Cash Flow | 10.12M | -82.97M | -93.89M | -55.91M | -20.99M |
| Financing Cash Flow | -13.43M | -15.82M | -41.81M | 5.51M | 213.56M |
Cytek Biosciences Technical Analysis
Positive
4.58
Price Trends
4.63
Negative
4.85
Negative
4.29
Positive
Market Momentum
0.01
Negative
55.39
Neutral
80.99
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CTKB, the sentiment is Positive. The current price of 4.58 is above the 20-day moving average (MA) of 4.37, below the 50-day MA of 4.63, and above the 200-day MA of 4.29, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 55.39 is Neutral, neither overbought nor oversold. The STOCH value of 80.99 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CTKB.
Cytek Biosciences Risk Analysis
Cytek Biosciences disclosed 64 risk factors in its most recent earnings report. Cytek Biosciences reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Issues in the development and use of artificial intelligence technologies, combined with an uncertain regulatory environment, may result in reputation harm, liability, or other adverse consequences to our business operations. Q4, 2025
2.
Disruptions at the FDA, the SEC, and other government agencies and regulatory authorities from funding cuts, personnel losses, regulatory reform, government shutdowns, and other developments could hinder their ability to hire and retain key leadership and other personnel, prevent new products and services from being developed or commercialized in a timely manner, or otherwise prevent those agencies from performing normal business functions on which the operation of our business may rely, which could negatively impact our business. Q4, 2025
3.
regulations, which can be expensive and restrict how we do business, and could expose us to liability if our use of such hazardous materials cause injury. Q4, 2025
Cytek Biosciences Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $743.40M | 21.81 | 4.97% | ― | 1.58% | ― | |
56 Neutral | $542.79M | -45.38 | -12.91% | ― | 23.27% | 43.90% | |
55 Neutral | $998.16M | -12.19 | -35.34% | ― | 16.04% | 28.91% | |
52 Neutral | $555.34M | -9.70 | -18.01% | ― | -2.18% | -30.96% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $380.52M | -1.03 | -1123.27% | ― | -10.72% | -16.00% | |
46 Neutral | $449.59M | 52.93 | -13.86% | ― | 4.14% | -45.29% |
* Healthcare Sector Average
CTKB
Cytek Biosciences
4.32
0.32
8.00%
PACB
Pacific Biosciences
1.26
0.12
10.53%
VREX
Varex Imaging
10.73
-0.79
-6.86%
SIBN
SI-Bone
12.29
-1.75
-12.46%
BFLY
Butterfly Network
3.92
1.55
65.40%
BVS
Bioventus
8.94
-0.09
-1.00%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.