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Cytek Biosciences (CTKB)
NASDAQ:CTKB
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Cytek Biosciences
(NASDAQ:CTKB)
Rating:59Neutral
Price Target:
$3.50
▲(2.94%Upside)
Positive Factors
Global Market Expansion
Management reported strong growth in Asia Pacific and Rest Of World markets, offering some positive outlook despite current challenges.
Service Revenue Growth
Service revenue grew significantly driven by growth in the instrument installed base.
Negative Factors
Competition Impact
CTKB's sales have been impacted by Becton Dickinson's new S8 Cell Sorter launch, leading to a preliminary revenue miss.
Price Target Reduction
Price target has been lowered from $7.00 to $4.00, indicating reduced expectations for the stock's performance.
Revenue Miss
The company missed its top and bottom line targets due to multiple persistent challenges.
Cytek Biosciences (CTKB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$430.64M
Dividend YieldN/A
Average Volume (3M)1.45M
Price to Earnings (P/E)―
Beta (1Y)1.66
Revenue Growth-1.86%
EPS Growth-2.01%
CountryUS
Employees663
SectorHealthcare
Sector Strength39
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.09
Shares Outstanding126,659,195
10 Day Avg. Volume1,293,494
30 Day Avg. Volume1,454,624
Financial Highlights & Ratios
PEG Ratio0.42
Price to Book (P/B)1.16
Price to Sales (P/S)0.00
P/FCF Ratio24.77
Enterprise Value/Market Cap0.80
Enterprise Value/Revenue0.44
Enterprise Value/Gross Profit3.20
Enterprise Value/Ebitda-14.14
Forecast
1Y Price Target
$5.75Price Target Upside69.12% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
Cytek Biosciences Business Overview & Revenue Model
Company DescriptionCytek Biosciences (CTKB) is a biotechnology company that specializes in the development and manufacturing of flow cytometry products. The company operates in the life sciences and healthcare sectors, providing advanced cell analysis systems and related reagents and software. Cytek's core products are designed to offer comprehensive and high-dimensional cell analysis solutions, which are utilized in various applications including immunology, cancer research, and drug discovery.
How the Company Makes MoneyCytek Biosciences generates revenue primarily through the sale of its flow cytometry systems, which include hardware, software, and associated reagents. The company offers a range of products tailored to different research and clinical needs, allowing it to cater to a wide customer base, including academic institutions, pharmaceutical companies, and clinical research organizations. In addition to product sales, Cytek may also derive income from service contracts, maintenance agreements, and training programs. Strategic partnerships and collaborations with other companies and research institutions can further contribute to its earnings by expanding its market reach and driving product innovation.
Cytek Biosciences Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: -10.29%|
Next Earnings Date:Aug 12, 2025
Earnings Call Sentiment Neutral
The earnings call reflects a challenging quarter for Cytek Biosciences, with significant revenue declines in key regions like the US and EMEA. However, strong growth in service revenue, APAC markets, and recurring revenue, along with strategic product launches, provide a balanced view of both challenges and opportunities ahead.Q1-2025 Updates
Positive Updates
Service Revenue Growth
Service revenue worldwide reached $13.3 million, an increase of 24% versus a year ago, driven by the expansion of the instrument installed base and active usage of Cytek's tools.
APAC and Rest of the World Revenue Surge
Total revenue in APAC and the rest of the world region was $11.4 million, up 35.6% year over year, with strong growth in China due to the China stimulus program.
Expansion of Cytek Cloud User Base
Cytek cloud users grew by 2,000 to over 18,000 in the first quarter, representing an average of about six users per installed Cytek FFP instrument.
Launch of FiFit Muse Microsystem
The new Muse microcell analyzer was launched, designed to enhance ease of use and precision, targeting emerging markets such as cell and gene therapy.
Recurring Revenue Growth
Trailing twelve-month recurring revenue grew 17%, now representing 31% of total revenue in the first quarter, up from 26% a year ago.
Negative Updates
Overall Revenue Decline
Total revenue for the first quarter of 2025 was $41.5 million, a 7.6% decrease compared to the first quarter of 2024, primarily due to weaker instrument sales in the US and EMEA.
Product Revenue Drop
Product revenue, including instruments and reagents, decreased 18% versus Q1 of 2024, driven by a weaker instrument market in the US and EMEA.
US and EMEA Revenue Decline
Total US and EMEA revenue declined 13% and 24%, respectively, due to academic funding uncertainties in the US and pressure on government budgets in EMEA.
Gross Margin Decrease
GAAP gross margin was 49% in the first quarter compared to 51% in the prior year, and non-GAAP adjusted gross margin was 52% versus 55% in the prior year.
Revised Revenue Guidance
Full-year 2025 revenue outlook revised to a range of $196 million to $210 million, representing overall growth of minus 2% to plus 5% over full-year 2024.
Company Guidance
During the Cytek Biosciences First Quarter 2025 Earnings Conference Call, the company provided detailed financial guidance and performance metrics for the period. The first-quarter revenue was reported at $41.5 million, marking a 7.6% decline compared to the same period in 2024, primarily due to reduced instrument sales in the US and EMEA regions. However, service revenue increased by 24% year-over-year, reflecting strong growth driven by the expansion of the installed instrument base. Despite the revenue decline, the company expressed confidence in its strategic positioning, projecting full-year 2025 revenue to range between $196 million and $210 million, which represents a growth outlook of -2% to +5% over the previous year. The Asia Pacific region showed robust growth with a 40% increase in revenue, partly due to strong demand in China. Cytek also highlighted the expansion of its global installed base to 3,149 instruments, the launch of the FiFit Muse microsystem, and a strong focus on strategic investments in product pipeline and service teams to drive future growth. The recurring revenue from services and reagents represented 31% of total revenue, up from 26% a year ago, with a trailing twelve-month growth of 17%. The call ended with a discussion on macroeconomic challenges and market uncertainties, particularly in the academic and government sectors, which were factored into their revised revenue guidance.Cytek Biosciences Financial Statement Overview
Summary
Cytek Biosciences shows strong gross profitability and a solid balance sheet with low leverage. However, challenges in achieving net profitability and consistent positive cash flow persist, impacting the financial performance score.Income Statement
The company has shown a fluctuating revenue trend with a recent decline in TTM revenue. Gross profit margins remained strong at approximately 55%. However, net profit margins are negative due to persistent net losses. Despite a negative EBIT margin, the company maintains a relatively stable EBITDA margin due to lower depreciation and amortization costs. Overall, the income statement reflects a mix of stable gross profitability but challenges in achieving net profitability.65
Positive
Balance Sheet
The balance sheet is marked by a strong equity position with a high equity ratio of 78.7%, indicating financial stability. The debt-to-equity ratio is very low, signifying minimal leverage usage. Despite the strong equity position, return on equity is negative due to net losses. The company maintains a robust cash position, which supports its financial resilience.70
Positive
Cash Flow
The cash flow statement indicates a positive free cash flow in the TTM period, recovering from negative cash flows in prior years. Operating cash flow to net income ratio is positive, highlighting efficient cash generation relative to net losses. However, free cash flow to net income ratio remains challenged due to substantial capital expenditures in previous years. Overall, cash flows show improvement, but consistent generation of positive free cash flow is required for stronger performance.72
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 197.05M | 200.45M | 193.01M | 164.04M | 127.95M | 92.84M |
| Gross Profit | 108.25M | 111.11M | 109.43M | 100.97M | 79.14M | 51.71M |
| EBITDA | -9.35M | -10.03M | -4.41M | 9.54M | 10.40M | 15.37M |
| Net Income | -11.25M | -6.02M | -12.15M | 2.58M | 4.42M | 19.41M |
Balance Sheet | ||||||
| Total Assets | 482.60M | 499.50M | 494.46M | 519.48M | 463.70M | 219.98M |
| Cash, Cash Equivalents and Short-Term Investments | 265.61M | 277.86M | 262.41M | 341.15M | 364.62M | 165.23M |
| Total Debt | 7.45M | 17.02M | 14.14M | 18.09M | 0.00 | 2.77M |
| Total Liabilities | 102.97M | 103.76M | 101.39M | 93.93M | 56.90M | 236.01M |
| Stockholders Equity | 379.62M | 395.74M | 393.06M | 425.30M | 406.46M | -16.03M |
Cash Flow | ||||||
| Free Cash Flow | 17.54M | 21.85M | 454.00K | -22.10M | 266.00K | 13.61M |
| Operating Cash Flow | 21.30M | 25.38M | 5.28M | -12.23M | 4.63M | 15.16M |
| Investing Cash Flow | -67.77M | -82.97M | -93.89M | -55.91M | -20.99M | -1.55M |
| Financing Cash Flow | -28.98M | -15.82M | -41.81M | 5.51M | 213.56M | 122.61M |
Cytek Biosciences Technical Analysis
Negative
3.40
Price Trends
3.22
Positive
3.74
Negative
4.82
Negative
Market Momentum
0.10
Negative
52.97
Neutral
59.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CTKB, the sentiment is Negative. The current price of 3.4 is above the 20-day moving average (MA) of 3.37, above the 50-day MA of 3.22, and below the 200-day MA of 4.82, indicating a neutral trend. The MACD of 0.10 indicates Negative momentum. The RSI at 52.97 is Neutral, neither overbought nor oversold. The STOCH value of 59.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CTKB.
Cytek Biosciences Risk Analysis
Cytek Biosciences disclosed 71 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 0 New Risks
Cytek Biosciences Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
59 Neutral | $430.64M | ― | -2.91% | ― | -1.86% | -2.01% | |
52 Neutral | $7.45B | 0.30 | -61.93% | 2.28% | 16.62% | 1.04% | |
51 Neutral | $229.87M | ― | -44.97% | ― | 21.06% | -99.70% | |
51 Neutral | $229.87M | ― | -44.97% | ― | 21.06% | -99.70% | |
50 Neutral | $188.36M | ― | 271.41% | ― | 85.03% | 53.73% | |
50 Neutral | $188.36M | ― | 271.41% | ― | 85.03% | 53.73% | |
47 Neutral | $464.90M | ― | -29.16% | ― | 25.77% | 49.44% | |
47 Neutral | $464.90M | ― | -29.16% | ― | 25.77% | 49.44% | |
47 Neutral | $179.66M | ― | -52.87% | ― | -4.16% | 12.79% | |
47 Neutral | $179.66M | ― | -52.87% | ― | -4.16% | 12.79% | |
46 Neutral | $441.12M | ― | -177.29% | ― | -23.99% | -100.40% | |
46 Neutral | $441.12M | ― | -177.29% | ― | -23.99% | -100.40% |
* Healthcare Sector Average
Performance Comparison
CTKB
Cytek Biosciences
3.43
-2.31
-40.24%
PACB
Pacific Biosciences
1.47
0.16
12.21%
PACB
Pacific Biosciences
1.47
0.16
12.21%
BFLY
Butterfly Network
1.93
0.88
83.81%
BFLY
Butterfly Network
1.93
0.88
83.81%
MASS
908 Devices
6.81
2.20
47.72%
MASS
908 Devices
6.81
2.20
47.72%
TLSI
TriSalus Life Sciences
5.17
-0.28
-5.14%
TLSI
TriSalus Life Sciences
5.17
-0.28
-5.14%
SGHT
Sight Sciences
3.48
-2.95
-45.88%
Cytek Biosciences Corporate Events
Executive/Board ChangesShareholder Meetings
Cytek Biosciences Elects New Directors at Annual Meeting
Neutral
Jun 24, 2025
On June 18, 2025, Cytek Biosciences held its annual meeting of stockholders, with approximately 81.4% of outstanding shares represented. During the meeting, Richard Chin, MD, and Deborah Neff were elected as Class I directors to serve until 2028. Additionally, the executive compensation for 2024 was approved, and Deloitte & Touche LLP was ratified as the independent registered public accounting firm for 2025.
The most recent analyst rating on (CTKB) stock is a Buy with a $8.25 price target. To see the full list of analyst forecasts on Cytek Biosciences stock, see the CTKB Stock Forecast page.
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.