Cytek Biosciences, Inc.
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Range $4.75 – $5
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About the company
Cytek Biosciences, Inc. is a company dedicated to cell analysis solutions, offering advanced tools that facilitate scientific progress in both biomedical research and clinical settings. Their primary offerings include the Aurora and Northern Lights spectrum flow cytometers.
- CEO
- Wenbin Jiang
- IPO
- 2021
- Employees
- 682
- HQ
- Fremont, CA, US
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- Market Cap
- $601.80M
- P/E
- -7.48
- PEG
- 0.06
- P/S
- 2.91
- P/B
- 1.87
- EV/EBITDA
- -20.42
- Div Yield
- 0.00%
- Gross Margin
- 53.23%
- Op Margin
- -21.60%
- Net Margin
- -38.98%
- ROE
- -23.53%
- ROIC
- -11.90%
Latest fiscal year · YoY change
- Revenue
- $201.49M+0.5%
- Gross Profit
- $104.46M-6.0%
- Op Income
- $-40,384,000
- Net Income
- $-66,539,000-1005.3%
- EPS
- $-0.52-1030.4%
- OCF Growth
- -118.5%
- FCF Growth
- -140.1%
- 52W High
- $6.18
- 52W Low
- $3.28
- 50D MA
- $4.41
- 200D MA
- $4.60
- Beta
- 1.17
- RSI (14)
- 56
- Avg Volume
- 1.34M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Cytek posted 6% Q2 revenue growth, improved U.S. and China demand, and raised full-year revenue guidance while keeping adjusted EBITDA near breakeven.· August 5, 2026
- Q2 revenue was $48.1 million, up 6% year over year, with strong double-digit growth in the U.S. and China.
- Gross margin was 59% GAAP, helped by a one-time $2.8 million tariff refund; excluding that refund, gross margin was 53% versus 52% a year ago.
- Recurring revenue continued to strengthen: combined reagent and service revenue was $18.5 million, service revenue was $15.6 million, and recurring revenue was 35% of trailing 12-month revenue.
- Cytek launched Borealis, its first 60-color, 7-laser full spectrum cytometer, and a new Aurora Evo automation configuration.
- Management raised full-year 2026 revenue guidance to $207 million-$212 million and reiterated an around break-even adjusted EBITDA outlook.
Second quarter revenue was $48.1 million, up 6% from $45.6 million in Q2 2025. Product revenue was $32.6 million, up 4%, and service revenue was $15.6 million, up 10%. GAAP gross profit was $28.3 million with gross margin of 59%; excluding a one-time $2.8 million tariff refund, gross margin would have been 53% versus 52% in Q2 2025. Adjusted gross margin was 61%, or 56% excluding the tariff refund, versus 56% a year ago. Operating expenses were $39.7 million, operating loss was $11.4 million, GAAP net loss was $12.2 million, and adjusted EBITDA was a loss of $1.5 million. Cash, cash equivalents, and marketable securities were $262 million as of June 30, 2026, and free cash flow was approximately neutral. For full-year 2026, Cytek raised revenue guidance to $207 million-$212 million and expects around break-even adjusted EBITDA. Management also said gross margins, excluding the tariff refund, should increase in subsequent quarters as revenue rises, and that Q4 revenue should be significantly higher than Q3 due to seasonality.
Wenbin Jiang said the quarter showed continued positive momentum and called the results evidence of Cytek’s technology leadership in flow cytometry. He emphasized the new Borealis and Aurora Evo launches as proof that the company is extending its product portfolio and setting up the next phase of growth. His tone was confident and forward-looking, with repeated focus on market penetration, recurring revenue growth, and sustainable profitability.
Bill McCombe focused on the financial bridge: revenue of $48.1 million, GAAP gross profit of $28.3 million, and adjusted EBITDA of negative $1.5 million. He explained that margin strength was distorted by a one-time $2.8 million tariff refund; excluding that, gross margin would have been 53% and adjusted gross margin 56%. He also noted cash and marketable securities were $262 million, free cash flow was approximately neutral, and the balance sheet gives Cytek flexibility to invest. On outlook, he said full-year revenue guidance was raised to $207 million-$212 million, adjusted EBITDA should improve in the second half, and the company still expects around break-even adjusted EBITDA for 2026.
Analysts focused on geographic growth balance, the installed-base replacement opportunity, China’s clinical adoption, and the planned reorganization into three business units. Management said the U.S. remained strong, Europe was still pressured by government funding constraints, China was very good, and Asia-Pacific should be a strong long-term market. On the reorganization, Bill said the initiative is already being implemented in Q3, is meant to improve growth and market penetration, is baked into guidance, and will take time to bear fruit; Wenbin added that they do not expect customer disruption. On clinical, management said Cytek has approvals outside the U.S. but not in the U.S., which limits current share, while panels, reagents, and software are being used to expand penetration.
The bull case from this call is that demand is still growing in the company’s strongest markets, especially the U.S. and China, while recurring revenue is becoming a larger part of the mix. Management also pointed to new products with differentiated capabilities, strong early customer feedback on Borealis, and confidence that the reorganization can improve growth over time.
The main risks discussed were continued weakness in EMEA and softness in parts of APAC, both tied to budget and purchasing pressure. Profitability was also mixed: operating loss widened, GAAP net loss increased, and adjusted EBITDA was negative in the quarter. Management also said the benefits of the new organizational structure will take time, and clinical growth in the U.S. remains limited by the lack of U.S. approval.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 91.6%
- Shares Outstanding
- 129.14M
- Float Shares
- 118.26M
of shares held by institutions
165 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 9.58M | ▼ 7.43M |
| Millennium Management LLC | 9.34M | ▲ 3.05M |
| Boston Partners | 7.66M | ▲ 1.86M |
| Vanguard Group Inc | 7.48M | ▲ 541.97K |
| Hhlr Advisors, Ltd. | 6.66M | 0 |
| Topline Capital Management, LLC | 6.28M | ▼ 781.03K |
| Vanguard Capital Management LLC | 4.94M | ▲ 176.69K |
| Geode Capital Management, LLC | 3.06M | ▲ 225.62K |
| Dimensional Fund Advisors LP | 2.62M | ▼ 47.07K |
| State Street Corp | 2.57M | ▼ 1.56M |
| Goldman Sachs Group Inc | 2.17M | ▼ 177.22K |
| Royce & Associates LP | 2.08M | ▲ 439.21K |
Held by 139 ETFs
Biggest fund positions in CTKB by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 18, 26 | Jiang Wenbin | other | 57,212 |
| Aug 18, 26 | Jiang Wenbin | other | 20,956 |
| Aug 18, 26 | Jiang Wenbin | other | 29,002 |
| Aug 18, 26 | Jiang Wenbin | other | 7,062 |
| Aug 18, 26 | Jiang Wenbin | other | 22,100 |
| Aug 18, 26 | Jiang Wenbin | other | 5,382 |
| Aug 18, 26 | Jiang Wenbin | other | 11,781 |
| Aug 18, 26 | Jiang Wenbin | other | 2,869 |
| Aug 18, 26 | Jiang Wenbin | other | 57,212 |
| Aug 18, 26 | Jiang Wenbin | other | 29,002 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our CTKB coverage
Recent articles, reports, and earnings notes.
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Generate CTKB report →Cytek Biosciences, Inc. (CTKB) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 6
Cytek Biosciences Q2 Earnings Call Highlights
marketbeat.com · Aug 5
Cytek Biosciences, Inc. (CTKB) Reports Q2 Loss, Tops Revenue Estimates
zacks.com · Aug 5
Cytek Biosciences Reports Second Quarter 2026 Financial Results
globenewswire.com · Aug 5
Analysts Estimate Cytek Biosciences, Inc. (CTKB) to Report a Decline in Earnings: What to Look Out for
zacks.com · Jul 29
CSBR vs. CTKB: Which Life Sciences Stock Has Better Long-Term Upside?
zacks.com · Jul 23
Cytek Biosciences to Report Second Quarter 2026 Financial Results on August 5, 2026
globenewswire.com · Jul 22
Cytek® Biosciences Opens New Innovation Center in Bellevue to Advance R&D and Customer Engagement
globenewswire.com · Jul 15
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