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Cytek Biosciences, Inc. (CTKB)
NASDAQ:CTKB
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Cytek Biosciences
(NASDAQ:CTKB)
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Rating:58Neutral
Price Target:
$5.50
▼(-5.17% Downside)
Cytek Biosciences' overall stock score is driven by strong technical momentum and revenue growth, but is tempered by profitability challenges and a negative valuation outlook. The earnings call provides a mixed view with regional growth offset by increased expenses.
Positive Factors
Revenue Growth in APAC
Strong growth in the APAC region indicates robust demand and market penetration, enhancing long-term revenue prospects and geographic diversification.
Recurring Revenue Growth
Growth in recurring revenue streams like service contracts provides a stable income base, reducing reliance on one-time sales and enhancing financial predictability.
Aurora Evo Instrument Launch
The successful launch of the Aurora Evo instrument strengthens Cytek's product portfolio, supporting competitive positioning and future revenue growth.
Negative Factors
Decline in EMEA Revenue
The revenue decline in EMEA highlights regional challenges and potential market saturation, which could impact overall growth and profitability.
Increased Operating Expenses
Rising operating expenses, particularly from legal costs, can pressure margins and reduce profitability, affecting long-term financial health.
Net Loss in Q3
The net loss indicates ongoing profitability challenges, which may hinder investment capacity and strategic growth initiatives in the long term.
Cytek Biosciences (CTKB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$741.62M
Dividend YieldN/A
Average Volume (3M)1.04M
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)<0.01
Shares Outstanding127,864,830
10 Day Avg. Volume786,307
30 Day Avg. Volume1,036,802
Financial Highlights & Ratios
PEG Ratio2.89
Price to Book (P/B)2.14
Price to Sales (P/S)4.23
P/FCF Ratio38.79
Enterprise Value/Market Cap0.29
Enterprise Value/Revenue1.10
Enterprise Value/Gross Profit2.05
Enterprise Value/Ebitda-11.91
Forecast
1Y Price Target
$6.17Price Target Upside6.38% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Cytek Biosciences Business Overview & Revenue Model
Company DescriptionCytek 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 MoneyCytek Biosciences generates revenue primarily through the sale of its flow cytometry instruments, reagents, and related consumables. The company’s revenue model is based on a combination of product sales and recurring revenue from consumables and service contracts. Key revenue streams include direct sales of the Aurora and Northern Lights systems, which are marketed to research institutions, clinical laboratories, and pharmaceutical companies. Additionally, Cytek benefits from partnerships with other biotech and pharmaceutical firms that may involve joint development initiatives or co-marketing agreements, further enhancing its market reach and revenue potential.
Cytek Biosciences Earnings Call Summary
Earnings Call Date:Nov 05, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Mar 04, 2026
Earnings Call Sentiment Neutral
The earnings call reflects a mixture of positive and negative elements. While there are significant achievements in revenue growth in APAC, service, and reagent sectors, challenges remain in the EMEA region and the U.S. academic and government sectors. Increased operating expenses and a net loss also weigh negatively, balancing out the positive aspects.Q3-2025 Updates
Positive Updates
Revenue Growth in APAC and Recurring Revenue
Total revenue reached $52.3 million, representing a year-over-year increase of 2%. This growth was primarily driven by strong double-digit gains in the Asia Pacific region and continued momentum in recurring revenue businesses, specifically service and reagents.
Strong Performance in APAC
APAC, including China, increased 25% in Q3, driven by growth in instruments, service, and reagents.
Reagent Revenue Growth
Reagent revenue grew 21% globally year-over-year, supported by operational improvements, including faster delivery times and enhanced customer service.
Service Revenue Growth
Service revenue continued to grow strongly with 19% growth in Q3 versus the prior year quarter.
Aurora Evo Instrument Launch
The Aurora Evo Analyzer was introduced and had a strong reception, contributing to instrument revenue growth.
Expansion of Cytek Cloud User Base
As of September 30, 2025, Cytek Cloud had more than 22,600 users, representing growth of over 40% since the beginning of 2025.
Negative Updates
Decline in EMEA Revenue
EMEA experienced a double-digit year-over-year revenue decline, largely due to significantly reduced instrument sales to academic and government customers.
U.S. Academic and Government Sector Weakness
U.S. instrument revenue was flat year-over-year, with demand from the academic and government sectors remaining under pressure due to funding uncertainty.
Lower Gross Profit Margin
GAAP gross profit margin was 53%, down from 56% in the prior year quarter due to higher materials and tariff costs, and higher overhead.
Increased Operating Expenses
Operating expenses were $36.7 million in Q3, up 10% versus Q3 2024, driven by higher general and administrative expenses, including legal expenses related to a patent litigation case.
Net Loss in Q3
Net loss was $5.5 million in Q3 versus net income of $0.9 million in the prior year quarter, driven by higher loss from operations and lower net other income.
Company Guidance
During the Cytek Biosciences Third Quarter 2025 Earnings Conference Call, the company provided guidance indicating a stable financial outlook. Total revenue for the third quarter reached $52.3 million, marking a 2% year-over-year increase, driven by strong growth in the Asia Pacific region and recurring revenue from service and reagents. Revenue from instruments to pharma and biotech customers grew by 12% worldwide, with the U.S. seeing a 10% increase. Despite the positive performance in the U.S. and APAC, EMEA experienced a double-digit revenue decline. The company reaffirmed its full-year 2025 revenue guidance of $196 million to $205 million, highlighting continued strong momentum in service and reagents and stabilization in U.S. instrument revenues. Cytek also emphasized its strong market position, with an installed base of 3,456 units and a notable contribution from the Aurora Evo instruments, underscoring its commitment to sustained growth and market leadership.Cytek Biosciences Financial Statement Overview
Summary
Cytek Biosciences shows strong revenue growth but struggles with profitability and cash flow management. The balance sheet is stable with low leverage, but negative return on equity and cash flow challenges highlight areas for improvement.Income Statement
Cytek Biosciences shows a mixed performance in its income statement. The company has experienced a significant revenue growth rate of 40.5% in the TTM period, indicating strong top-line expansion. However, profitability metrics such as the net profit margin and EBIT margin are negative, reflecting ongoing challenges in achieving operational efficiency. The gross profit margin remains healthy at 54.4%, but the negative EBITDA margin suggests difficulties in covering operating expenses.Balance Sheet
The balance sheet of Cytek Biosciences is relatively stable. The debt-to-equity ratio is low at 0.037, indicating conservative leverage and a strong equity position. However, the return on equity is negative, suggesting that the company is not generating sufficient returns on its equity base. The equity ratio is robust, reflecting a solid capital structure with a high proportion of equity financing.Cash Flow
Cytek Biosciences faces challenges in its cash flow management. The free cash flow growth rate is negative, and the operating cash flow is also negative in the TTM period, indicating cash flow constraints. The free cash flow to net income ratio is relatively high, suggesting that the company is managing to convert a significant portion of its net income into free cash flow, but the overall cash flow position remains weak.| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 196.83M | 200.45M | 193.01M | 164.04M | 127.95M | 92.84M |
| Gross Profit | 105.23M | 111.11M | 109.43M | 100.97M | 79.14M | 51.71M |
| EBITDA | -18.13M | -10.03M | -4.41M | 9.49M | 8.92M | 15.37M |
| Net Income | -12.82M | -6.02M | -12.15M | 2.58M | 3.00M | 19.41M |
Balance Sheet | ||||||
| Total Assets | 494.92M | 499.50M | 494.46M | 519.48M | 463.31M | 219.98M |
| Cash, Cash Equivalents and Short-Term Investments | 261.73M | 277.86M | 262.41M | 341.15M | 364.62M | 165.23M |
| Total Debt | 35.16M | 17.02M | 14.14M | 18.09M | 0.00 | 2.77M |
| Total Liabilities | 116.35M | 103.76M | 101.39M | 93.93M | 57.92M | 236.01M |
| Stockholders Equity | 378.57M | 395.74M | 393.06M | 425.30M | 405.04M | -16.03M |
Cash Flow | ||||||
| Free Cash Flow | -5.90M | 21.85M | 454.00K | -22.10M | 266.00K | 13.61M |
| Operating Cash Flow | -1.92M | 25.38M | 5.28M | -12.23M | 4.63M | 15.16M |
| Investing Cash Flow | -51.47M | -82.97M | -93.89M | -55.91M | -20.99M | -1.55M |
| Financing Cash Flow | -15.85M | -15.82M | -41.81M | 5.51M | 213.56M | 122.61M |
Cytek Biosciences Technical Analysis
Positive
5.80
Price Trends
5.06
Positive
4.50
Positive
3.98
Positive
Market Momentum
0.17
Negative
65.41
Neutral
75.66
Neutral
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 5.8 is above the 20-day moving average (MA) of 5.14, above the 50-day MA of 5.06, and above the 200-day MA of 3.98, indicating a bullish trend. The MACD of 0.17 indicates Negative momentum. The RSI at 65.41 is Neutral, neither overbought nor oversold. The STOCH value of 75.66 is Neutral, 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 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $641.41M | 68.57 | 4.97% | ― | 1.58% | ― | |
58 Neutral | $741.62M | -56.38 | -3.36% | ― | -2.18% | -30.96% | |
57 Neutral | $775.40M | -34.98 | -12.91% | ― | 23.27% | 43.90% | |
55 Neutral | $1.08B | -13.15 | -41.42% | ― | 16.04% | 28.91% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $557.95M | -7.79 | -13.95% | ― | 4.14% | -45.29% | |
49 Neutral | $606.83M | -0.98 | -205.41% | ― | -10.72% | -16.00% |
* Healthcare Sector Average
CTKB
Cytek Biosciences
5.70
-1.56
-21.49%
PACB
Pacific Biosciences
2.13
0.28
15.14%
VREX
Varex Imaging
13.46
-0.06
-0.44%
SIBN
SI-Bone
17.88
2.18
13.89%
BFLY
Butterfly Network
4.40
1.03
30.56%
BVS
Bioventus
7.70
-1.17
-13.19%
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.