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Cytek Biosciences (CTKB)
NASDAQ:CTKB
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Cytek Biosciences
(NASDAQ:CTKB)
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Rating:52Neutral
Price Target:
$4.00
▲(0.76% Upside)
The overall stock score of 52 reflects significant challenges in financial performance, particularly in revenue and profitability, despite a strong balance sheet. Technical indicators suggest a bearish trend, and valuation metrics are weak due to negative earnings. The earnings call highlights some growth in recurring revenues and new product launches, but these are offset by declines in other regions and increased operational losses.
Positive Factors
Recurring Revenue Growth
The growth in recurring revenue streams, particularly from services and reagents, enhances revenue stability and predictability, supporting long-term financial health.
New Product Launches
Introducing new products like the Aurora Evo system positions Cytek as a leader in flow cytometry, potentially expanding market share and driving future growth.
U.S. Revenue Growth
Strong U.S. revenue growth indicates robust demand in a key market, which can offset regional weaknesses and support overall company performance.
Negative Factors
Overall Revenue Decline
A decline in overall revenue highlights challenges in maintaining sales momentum, which can impact long-term growth and profitability.
EMEA Revenue Decline
Significant revenue decline in EMEA suggests regional market challenges, potentially affecting global sales performance and strategic initiatives.
Loss from Operations
Increasing operational losses indicate rising costs and efficiency issues, which could strain financial resources and hinder future investments.
Cytek Biosciences (CTKB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$505.08M
Dividend YieldN/A
Average Volume (3M)960.14K
Price to Earnings (P/E)―
Beta (1Y)1.67
Revenue Growth-0.85%
EPS Growth61.31%
CountryUS
Employees663
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.04
Shares Outstanding127,223,780
10 Day Avg. Volume807,585
30 Day Avg. Volume960,143
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.40
Enterprise Value/Revenue1.04
Enterprise Value/Gross Profit1.91
Enterprise Value/Ebitda-23.92
Forecast
1Y Price Target
$5.33Price Target Upside34.26% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
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:Aug 06, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 11, 2025
Earnings Call Sentiment Neutral
The earnings call presents a mixed picture with strong growth in recurring revenue streams, new product launches, and U.S. revenue growth. However, these positives are balanced by overall revenue decline, significant drops in EMEA and APAC sales, lower gross profits, and increased operational losses, indicating challenges in the current market environment.Q2-2025 Updates
Positive Updates
Strong Recurring Revenue Growth
Service and Reagent revenue each increased by 18% versus the second quarter of 2024, contributing significantly to recurring revenue, which reached 32% of trailing 12-month sales, growing 16% versus last year.
Aurora Analyzers Drive FSP Growth
3% growth in FSP unit volume was observed in the second quarter, led by Aurora Analyzers, with particular strength in the U.S. showing 10% year-over-year growth.
New Product Launches
The launch of the Cytek Aurora Evo system and Micro Muse are expected to drive market leadership, with Aurora Evo setting a new standard in full spectral flow cytometry.
U.S. Revenue Growth
Total U.S. revenue was up 7% over the second quarter of 2024, driven by service and reagents.
Reagent Revenue Achievement
Reagent revenue achieved its highest ever quarterly revenues in Q2, representing 18% growth over the prior year quarter.
Negative Updates
Overall Revenue Decline
Second quarter revenue in 2025 was $45.6 million, down $1 million or 2.2% compared to the second quarter of 2024, due to lower product revenue in EMEA and APAC.
EMEA Revenue Decline
Overall revenue in EMEA declined 11%, driven by weakness in instrument sales to pharma, biotech, and CRO customers.
APAC Sales Decline
APAC sales declined following a strong performance in Q1, primarily due to longer sales cycles in the region.
Lower Gross Profit
GAAP gross profit was $23.9 million, a 6% decline versus Q2 of 2024, with a GAAP gross profit margin of 52% versus 55% in the prior year quarter.
Loss from Operations
Loss from operations increased to $10.6 million for Q2 versus $8.5 million in the year-ago quarter, driven by lower GAAP gross profit and higher operating expenses.
Company Guidance
During the Cytek Biosciences Second Quarter 2025 Earnings Conference Call, the company provided detailed guidance on their financial performance and strategic outlook. The second quarter revenue was reported at $45.6 million, marking a decrease of 2.2% compared to the same period in 2024. Despite lower product revenues in EMEA and APAC, there was an 18% growth in service revenue globally, along with a notable 7% increase in total U.S. revenue. Recurring revenue, which includes service and reagent sales, grew by 16%, comprising 32% of the trailing 12-month sales. The company also highlighted a 3% increase in FSP unit volume, particularly driven by their Aurora Analyzers. Looking ahead, Cytek narrowed its full-year 2025 revenue guidance to between $196 and $205 million, reflecting a range from a 2% decrease to a 2% increase over 2024, factoring in current currency exchange rates. Additionally, Cytek emphasized their strategic focus on expanding their installed base and launching new products, such as the Cytek Aurora Evo system, to strengthen their market leadership and drive future growth.Cytek Biosciences Financial Statement Overview
Summary
Cytek Biosciences is experiencing challenges with declining revenue and profitability, as reflected in the income statement. The balance sheet remains strong with low leverage, but the negative return on equity highlights profitability issues. Cash flow management appears efficient, though growth is a concern. Overall, the company needs to address revenue growth and profitability to improve its financial health.Income Statement
Cytek Biosciences has experienced a significant decline in revenue growth, with a TTM revenue growth rate of -51.5%. The company is currently operating at a loss, as indicated by negative net profit and EBIT margins. However, the gross profit margin remains relatively stable at 54.4%, suggesting some operational efficiency.45
Neutral
Balance Sheet
The company's balance sheet shows a low debt-to-equity ratio of 0.037, indicating minimal leverage and financial risk. However, the return on equity is negative, reflecting the company's current unprofitability. The equity ratio is strong, suggesting a solid capital structure.60
Neutral
Cash Flow
Cash flow analysis reveals a decline in free cash flow growth by 36.9% in the TTM period. The operating cash flow to net income ratio is positive, indicating some cash generation capability despite net losses. The free cash flow to net income ratio is relatively high, suggesting efficient cash management.50
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 196.03M | 200.45M | 193.01M | 164.04M | 127.95M | 92.84M |
| Gross Profit | 106.68M | 111.11M | 109.43M | 100.97M | 79.14M | 51.71M |
| EBITDA | -8.51M | -10.03M | -4.41M | 9.54M | 10.40M | 15.37M |
| Net Income | -6.40M | -6.02M | -12.15M | 2.58M | 4.42M | 19.41M |
Balance Sheet | ||||||
| Total Assets | 493.32M | 499.50M | 494.46M | 519.48M | 463.70M | 219.98M |
| Cash, Cash Equivalents and Short-Term Investments | 262.02M | 277.86M | 262.41M | 341.15M | 364.62M | 165.23M |
| Total Debt | 14.12M | 17.02M | 14.14M | 18.09M | 0.00 | 2.77M |
| Total Liabilities | 115.76M | 103.76M | 101.39M | 93.93M | 56.90M | 236.01M |
| Stockholders Equity | 377.56M | 395.74M | 393.06M | 425.30M | 406.46M | -16.03M |
Cash Flow | ||||||
| Free Cash Flow | 11.06M | 21.85M | 454.00K | -22.10M | 266.00K | 13.61M |
| Operating Cash Flow | 15.20M | 25.38M | 5.28M | -12.23M | 4.63M | 15.16M |
| Investing Cash Flow | -86.20M | -82.97M | -93.89M | -55.91M | -20.99M | -1.55M |
| Financing Cash Flow | -29.87M | -15.82M | -41.81M | 5.51M | 213.56M | 122.61M |
Cytek Biosciences Technical Analysis
Positive
3.97
Price Trends
3.88
Positive
3.51
Positive
4.20
Negative
Market Momentum
-0.08
Negative
56.61
Neutral
62.65
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 3.97 is above the 20-day moving average (MA) of 3.77, above the 50-day MA of 3.88, and below the 200-day MA of 4.20, indicating a neutral trend. The MACD of -0.08 indicates Negative momentum. The RSI at 56.61 is Neutral, neither overbought nor oversold. The STOCH value of 62.65 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 |
|---|---|---|---|---|---|---|---|
63 Neutral | $625.54M | ― | -14.18% | ― | 22.93% | 43.83% | |
58 Neutral | $586.56M | ― | -29.42% | ― | 23.13% | 46.62% | |
57 Neutral | $495.51M | ― | -25.57% | ― | -1.36% | -479.49% | |
53 Neutral | $580.41M | ― | -0.10% | ― | 5.08% | 99.38% | |
52 Neutral | $505.08M | ― | -1.67% | ― | -0.85% | 61.31% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $447.55M | ― | -189.52% | ― | -17.35% | -19.34% |
* Healthcare Sector Average
CTKB
Cytek Biosciences
3.97
-1.10
-21.70%
PACB
Pacific Biosciences
1.49
-0.21
-12.35%
VREX
Varex Imaging
11.94
0.71
6.32%
SIBN
SI-Bone
14.50
1.26
9.52%
BFLY
Butterfly Network
2.33
0.46
24.60%
BVS
Bioventus
7.02
-4.17
-37.27%
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.