Cytek Biosciences (CTKB) AI Stock Analysis

• Market Cap: $494.46M
• Dividend Yield: N/A
• Average Volume (3M): 879.55K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.58
• Revenue Growth: 3.85%
• EPS Growth: 49.09%
• Country: US
• Employees: 648
• Sector: Healthcare
• Sector Strength: 70
• Industry: Medical - Devices
• EPS (TTM): -0.04
• Shares Outstanding: 128,097,380
• 10 Day Avg. Volume: 610,009
• 30 Day Avg. Volume: 879,551
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.00
• Price to Cash Flow (P/CF): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.19
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 5.30
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $7.13
• Price Target Upside: 90.13% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4

Cytek Biosciences' stock score reflects operational strengths in cash flow and gross profit margins but is constrained by profitability challenges, high leverage, and a bearish technical outlook. While the company has shown growth in international markets and adjusted EBITDA, valuation metrics like the negative P/E ratio and lack of dividends weigh down the score.

Positive Factors

International Growth

Management spoke to strong growth in Asia Pacific and Rest Of World markets as key sources of optimism for FY25.

Service Revenue Growth

Service revenue grew +8% y/y to $12.5M driven by growth in the instrument installed base.

Negative Factors

Competition

Increased competition from companies with larger R&D budgets and commercial reach is impacting Cytek Biosciences' ability to gain market share.

Geopolitical Concerns

Geopolitical concerns and uncertainty regarding NIH funding create challenges for Cytek Biosciences, which has significant exposure to the global academic and government market.

Regulatory Challenges

New U.S. export controls on biotech equipment to China may impact Cytek Biosciences' growth despite strong performance.

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 cytometers that delivers cell analysis by utilizing the fluorescence signatures from multiple lasers to distinguish fluorescent tags on single cells; and aurora cell sorter system, which leverages full spectrum profiling technology to further broaden potential applications across cell analysis. The company also provides reagents and kits, including cFluor reagents, which are fluorochrome conjugated antibodies used to identify cells of interest for analysis on its instruments, as well as 25-color immunoprofiling assay that provides turnkey solutions for identifying major human immune subpopulations for TBNK cells, monocytes, dendritic cells, and basophils. In addition, it offers automated micro-sampling system and automated sample loader system, which are automated plate loaders to integrate seamlessly into the aurora and northern lights systems; SpectroFlo software that provides intuitive workflow from quality control to data analysis for aurora and northern lights systems; and customer support tools. The company serves pharmaceutical and biopharma companies, academic research centers, and clinical research organizations. It distributes its products through direct sales force and support organizations in North America, Europe, China, and the Asia-Pacific region; and through distributors or sales agents in European, Latin American, the Middle Eastern, and the Asia-Pacific countries. The company was formerly known as Cytoville, Inc. and changed its name to Cytek Biosciences, Inc. in August 2015. Cytek Biosciences, Inc. was founded in 1992 and is headquartered in Fremont, California.

How the Company Makes Money

Cytek Biosciences generates revenue primarily through the sale of its flow cytometry instruments and related products. The company offers a range of flow cytometry systems that cater to different research needs and budgets. In addition to the sale of these instruments, Cytek earns revenue from selling consumables and reagents that are used in conjunction with their systems. The company also provides service contracts and support services for its instruments, adding another stream of recurring revenue. Key partnerships with research institutions and collaborations with other biotech companies also enhance Cytek's market reach and contribute to its financial performance.

Cytek Biosciences Financial Statement Overview

Summary

Cytek Biosciences shows strong gross profit margins and improved cash flows, but faces challenges with negative net income, volatile revenue growth, and a high debt-to-equity ratio.

Income Statement

Cytek Biosciences has shown a mixed performance in its income statement metrics. The company reported a significant gross profit margin indicating efficient cost management. However, the net profit margin is a concern due to the consistent net losses reported in recent years. Revenue growth has been volatile, with a decline in the latest year. EBIT and EBITDA margins are negative, reflecting operational challenges.

Balance Sheet

The balance sheet reveals a strong equity position, with a high equity ratio suggesting financial stability. However, the company has a high debt-to-equity ratio compared to industry standards. Return on equity is relatively weak due to net losses, indicating inefficiencies in generating profits from shareholders' equity.

Cash Flow

Operating cash flow has shown improvement, indicating better cash generation from core operations. The free cash flow has grown significantly, which is a positive sign for the company's liquidity position. However, the cash flow to net income ratios are not robust due to the company's net losses, suggesting challenges in translating profits into cash.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
200.45M	193.01M	164.04M	127.95M	92.84M
	Gross Profit
111.11M	109.43M	100.97M	79.14M	51.71M
	EBIT
-20.52M	-27.84M	-1.83M	6.45M	13.66M
	EBITDA
-20.52M	-4.41M	9.54M	10.40M	15.37M
	Net Income Common Stockholders
-6.02M	-12.15M	2.58M	4.42M	19.41M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
277.86M	262.41M	341.15M	364.62M	165.23M
	Total Assets
499.50M	494.46M	519.48M	463.70M	219.98M
	Total Debt
7.55M	14.14M	18.09M	0.00	2.77M
	Net Debt
-91.16M	-153.16M	-278.51M	-364.62M	-162.46M
	Total Liabilities
103.76M	101.39M	93.93M	56.90M	236.01M
	Stockholders Equity
395.74M	393.06M	425.30M	406.46M	-16.03M
Cash Flow		Free Cash Flow
21.85M	454.00K	-22.10M	266.00K	13.61M
	Operating Cash Flow
25.38M	5.28M	-12.23M	4.63M	15.16M
	Investing Cash Flow
-82.97M	-93.89M	-55.91M	-20.99M	-1.55M
	Financing Cash Flow
-15.82M	-41.81M	5.51M	213.56M	122.61M

Cytek Biosciences Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.75
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 3.75 is above the 20-day moving average (MA) of 3.72, below the 50-day MA of 4.15, and below the 200-day MA of 5.41, indicating a bearish trend. The MACD of -0.11 indicates Negative momentum. The RSI at 42.62 is Neutral, neither overbought nor oversold. The STOCH value of 52.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CTKB.

Cytek Biosciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MASS	57 Neutral	$188.31M	―	-51.56%	―	18.72%	-86.45%
CTKB	53 Neutral	$494.46M	―	-1.53%	―	3.85%	49.09%
Sector *	52 Neutral	$5.38B	3.59	-41.63%	2.87%	17.72%	1.87%
TLSI	50 Neutral	$165.56M	―	271.41%	―	169.66%	28.89%
BFLY	48 Neutral	$590.30M	―	-37.28%	―	24.51%	47.32%
SGHT	47 Neutral	$157.67M	―	-49.59%	―	-1.47%	9.99%
PACB	40 Underperform	$339.05M	―	-51.11%	―	-23.19%	6.27%