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1. Company Snapshot

1.a. 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.

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1.b. Last Insights on CTKB

Cytek Biosciences' recent performance was negatively impacted by a wider-than-expected loss of $0.09 per share in Q1 2025, surpassing the Zacks Consensus Estimate of a loss of $0.04. This compares to a loss of $0.05 per share in the same period last year. The company's operating expenses represented 65.67% of its sales in 2024, indicating a high burn rate. Additionally, Cytek's Q1 2025 earnings release highlighted a decline in revenue, which fell short of analyst estimates.

1.c. Company Highlights

2. Cytek Biosciences' Q3 2025 Earnings: A Mixed Bag

Cytek Biosciences reported its third-quarter 2025 financial results, with total revenue reaching $52.3 million, a 2% year-over-year increase. The company's GAAP gross profit was $27.6 million, a 5% decrease versus Q3 2024, resulting in a GAAP gross profit margin of 53% versus 56% in the prior year quarter. The actual EPS came out at '-0.01' relative to estimates at '0.01'. Operating expenses were $36.7 million, up 10% versus Q3 2024, driven by higher general and administrative expenses, leading to a loss from operations of $9.2 million. Net loss was $5.5 million, driven by lower GAAP gross profit and higher operating expenses.

Publication Date: Nov -19

📋 Highlights
  • Revenue Growth:: Total revenue increased to $52.3 million (up 2% YoY), driven by double-digit growth in APAC and U.S. service revenue (though EMEA declined).<br>
  • Instrument & Recurring Revenue:: Aurora Evo instruments drove 12% global pharma/biotech instrument growth; reagent revenue rose 21% YoY, and service revenue remained strong.<br>
  • Product Launch Momentum:: 161 new instruments deployed (total 3,456), with Aurora cell sorters growing 35% YoY and Aurora Evo Analyzer gaining traction.<br>
  • Financial Performance:: GAAP gross profit fell 5% to $27.6 million (53% margin), while operating expenses rose 10% to $36.7 million, leading to a $9.2 million loss.<br>
  • Strategic Outlook:: Full-year revenue outlook reaffirmed ($196–$205 million); Cytek Cloud reached 22,600 users (40% YoY growth) and plans share repurchases/M&A to leverage its $150M+ reagent market opportunity.<br>

Regional Performance

Geographically, APAC led the performance with robust revenue growth, while the U.S. saw double-digit positive year-over-year overall revenue growth driven by service revenue. In contrast, EMEA experienced a double-digit year-over-year revenue decline due to reduced instrument sales. The company saw double-digit growth in CROs, with a 14% increase in total revenues to the aggregate group of customers, including pharmaceutical, biotech, CROs, and distributors.

Product Launch and Growth Drivers

The company expanded its global footprint by 161 instruments, bringing the total installed base to 3,456 units. The Aurora cell sorter was the strongest contributor in Q3, growing 35% year-over-year. The company also introduced the Aurora Evo Analyzer, which has had a strong reception, and the Muse Micro Analyzer, which offers advanced microcapillary fluids and enhanced optics. The company's Cytek Cloud continues to provide benefits to users, with over 22,600 users as of September 30, 2025, representing 40% growth since the beginning of 2025.

Outlook and Valuation

The company reaffirmed its full-year 2025 revenue outlook, expecting revenue to range from $196 million to $205 million. Analysts estimate next year's revenue growth at 5.4%. With a P/S Ratio of 3.61 and an EV/EBITDA of -75.84, the market seems to be pricing in a certain level of growth. However, the company's ROE (%) is -1.66, and ROIC (%) is -5.41, indicating potential challenges in generating returns on equity and invested capital.

Conclusion on Future Prospects

The company expects a typical seasonal improvement in Q4, driven by a budget flush from biopharma customers. The US academic and government demand continues to be down, but the momentum in biopharma has been strong. The company's strong balance sheet and global reach position it well to deliver long-term value through its technology portfolio and growth drivers.

3. NewsRoom

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Bank of Montreal Can Boosts Stock Position in Cytek Biosciences, Inc. $CTKB

Nov -22

Source: defenseworld.net

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Cytek Biosciences Is A Speculative Buy On Recurring Revenue Growth

Nov -20

Source: seekingalpha.com

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TIME Recognizes Cytek® Biosciences as One of America's Growth Leaders of 2026

Nov -12

Source: globenewswire.com

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Cytek® Muse® Micro Cell Analyzer Wins BioTech Breakthrough Award for Drug Discovery Solution of the Year

Nov -06

Source: globenewswire.com

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Cytek Biosciences to Participate in Upcoming Investor Conferences

Nov -06

Source: globenewswire.com

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Cytek Biosciences, Inc. (CTKB) Q3 2025 Earnings Call Transcript

Nov -06

Source: seekingalpha.com

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Cytek Biosciences, Inc. (CTKB) Reports Q3 Loss, Tops Revenue Estimates

Nov -06

Source: zacks.com

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Cytek Biosciences Reports Third Quarter 2025 Financial Results

Nov -05

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.75%)

6. Segments

Full Spectrum Flow Cytometry Platform

Expected Growth: 10%

Cytek Biosciences' Full Spectrum Flow Cytometry Platform growth is driven by increasing adoption in research and clinical applications, advancements in AI-powered data analysis, expanding use in immunology and oncology, growing demand for high-parameter analysis, and increasing investments in life sciences research and development.

Service

Expected Growth: 14%

Cytek Biosciences' 14% growth is driven by increasing adoption of its innovative flow cytometry solutions, expanding customer base in biotech and pharma, and growing demand for high-parameter analysis in immunology and oncology research. Additionally, strategic partnerships and investments in R&D are fueling product development and commercialization, further propelling growth.

7. Detailed Products

Aurora

A high-parameter flow cytometer that enables simultaneous detection of up to 50 colors, allowing for in-depth analysis of complex biological systems

Northern Lights

A fully integrated, high-performance flow cytometer that enables high-dimensional analysis of cells and particles

Aurora CS

A high-parameter flow cytometer designed for core facilities and high-throughput laboratories

Full Spectrum Profiling (FSP) reagents

A comprehensive portfolio of flow cytometry reagents designed to work seamlessly with Cytek's instruments

Cytek Analytics Software

A comprehensive software platform for data analysis and visualization of high-dimensional flow cytometry data

8. Cytek Biosciences, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Cytek Biosciences, Inc. is medium due to the presence of alternative technologies and products in the market, but the company's unique offerings and strong brand reputation mitigate this threat.

Bargaining Power Of Customers

The bargaining power of customers is low due to the specialized nature of Cytek Biosciences, Inc.'s products and services, which limits customers' ability to negotiate prices or switch to alternative suppliers.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium due to the presence of multiple suppliers in the market, but Cytek Biosciences, Inc.'s strong relationships with its suppliers and its ability to negotiate prices mitigate this threat.

Threat Of New Entrants

The threat of new entrants is high due to the growing demand for life sciences and diagnostics products, which attracts new companies to enter the market, increasing competition for Cytek Biosciences, Inc.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of established competitors in the market, which leads to aggressive marketing and pricing strategies, increasing competition for Cytek Biosciences, Inc.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 5.69%
Debt Cost 8.07%
Equity Weight 94.31%
Equity Cost 10.85%
WACC 10.69%
Leverage 6.03%

11. Quality Control: Cytek Biosciences, Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Rapid Micro Biosystems

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Value: 7.2

Growth: 3.6

Quality: 3.8

Yield: 0.0

Momentum: 10.0

Volatility: 1.3

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ClearPoint Neuro

A-Score: 4.2/10

Value: 6.0

Growth: 4.4

Quality: 4.1

Yield: 0.0

Momentum: 9.5

Volatility: 1.0

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NeuroOne Medical Technologies

A-Score: 3.7/10

Value: 6.8

Growth: 6.1

Quality: 4.2

Yield: 0.0

Momentum: 4.0

Volatility: 1.3

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Accelerate Diagnostics

A-Score: 3.5/10

Value: 10.0

Growth: 5.6

Quality: 5.0

Yield: 0.0

Momentum: 0.0

Volatility: 0.3

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Cytek Biosciences

A-Score: 3.4/10

Value: 6.3

Growth: 7.0

Quality: 3.8

Yield: 0.0

Momentum: 1.5

Volatility: 2.0

1-Year Total Return ->

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Pulmonx

A-Score: 3.1/10

Value: 9.0

Growth: 4.6

Quality: 4.2

Yield: 0.0

Momentum: 0.0

Volatility: 1.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

4.96$

Current Price

4.96$

Potential

-0.00%

Expected Cash-Flows