Recent Highlights
- Total revenue for the second quarter of 2026 was
$48.1 million , representing a 6% increase compared to the second quarter of 2025 - Launched Cytek Borealis™, a new 7-laser full spectrum flow cytometer with new and proprietary reagents enabling high-resolution 60-color panels
- Introduced Cytek Aurora™ Evo instrument configurations with expanded automation capabilities for highly automated lab environments
- Total recurring revenue, comprised of service and reagent revenues, reached
$18.5 million in the second quarter. On a trailing-12-month basis, recurring revenue represented 35% of total revenue, up from 32% on a trailing-12-month basis as of the second quarter of 2025 - Expanded to a total installed base of 3,933 Cytek instruments, adding 142 units in the second quarter of 2026
- Updates full year 2026 total revenue guidance to
$207 million to$212 million , raising the midpoint by$1 million
“Our second quarter results reflect continued execution against our strategic priorities, exemplified by strong double-digit revenue growth in instruments in the
Second Quarter 2026 Financial Results
Total revenue for the second quarter of 2026 was
GAAP gross profit was
Operating expenses were
Research and development expenses were
Sales and marketing expenses were
General and administrative expenses were
Loss from operations in the second quarter of 2026 was
Adjusted EBITDA loss in the second quarter of 2026 was
Cash, cash equivalents and marketable securities totaled
2026 Outlook
Webcast Information
Cytek will host a conference call to discuss its second quarter 2026 financial results on
About
Cytek’s products are for research use only and not for use in diagnostic procedures (other than Cytek’s Northern Lights-CLC system and certain reagents, which are available for clinical use only in
Cytek, Full Spectrum Profiling, FSP, Cytek Aurora, Cytek Borealis, Northern Lights, Enhanced Small Particle, ESP, Cytek Orion, Amnis and Guava are trademarks of
In addition to filings with the Securities and Exchange Commission (SEC), press releases, public conference calls and webcasts, Cytek uses its website (www.cytekbio.com), LinkedIn page and X account as channels of distribution for information about the company, its products, planned financial and other announcements, attendance at upcoming investor and industry conferences and other matters. Certain information disseminated through these channels may be material to investors, and Cytek may use these channels to disseminate such information in accordance with Regulation FD and other applicable disclosure requirements. Therefore, investors should monitor Cytek’s website, LinkedIn page, and X account in addition to following its
Statement Regarding Use of Non-GAAP Financial Information
Cytek has presented certain financial information in accordance with generally accepted accounting principles in
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, without limitation, statements regarding Cytek’s business strategies, market opportunities, product plans and expectations, and continued investment in its products, people, and infrastructure; Cytek’s expanding installed base and future recurring revenue growth in its service and reagent businesses; and Cytek’s future financial performance, including its outlook for fiscal year 2026 and expectations for 2026 total revenue. These statements are based on management’s current expectations, forecasts, beliefs, assumptions and information currently available to management. These statements also deal with future events and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. In addition, new risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements. Factors that could cause actual results to differ materially include global geopolitical, economic and market conditions; Cytek’s ability to manage the impacts of recent and future export controls and licensing requirements, tariffs and
Media Contact:
(949) 453-8080
stephanie@lages.com
Investor Contact:
mmeehan@cytekbio.com
Consolidated Balance Sheets (Unaudited) | ||||||||
| (In thousands, except share and per share data) | 2026 | 2025 | ||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 73,846 | $ | 90,853 | ||||
| Marketable securities | 188,158 | 170,676 | ||||||
| Trade accounts receivable, net | 49,698 | 62,509 | ||||||
| Inventories | 52,251 | 48,428 | ||||||
| Prepaid expenses and other current assets | 13,978 | 19,530 | ||||||
| Total current assets | 377,931 | 391,996 | ||||||
| Property and equipment, net | 20,801 | 18,009 | ||||||
| Operating lease right-of-use assets | 10,962 | 11,315 | ||||||
| 16,690 | 16,697 | |||||||
| Intangible assets, net | 14,865 | 16,821 | ||||||
| Other noncurrent assets | 5,685 | 6,704 | ||||||
| Total assets | $ | 446,934 | $ | 461,542 | ||||
| Liabilities and stockholders’ equity | ||||||||
| Current liabilities: | ||||||||
| Trade accounts payable | $ | 8,408 | $ | 6,410 | ||||
| Legal settlement liability, current | 2,353 | 2,495 | ||||||
| Accrued expenses | 23,855 | 23,417 | ||||||
| Other current liabilities | 20,513 | 16,978 | ||||||
| Deferred revenue, current | 29,206 | 28,504 | ||||||
| Total current liabilities | 84,335 | 77,804 | ||||||
| Legal settlement liability, noncurrent | 6,368 | 6,786 | ||||||
| Deferred revenue, noncurrent | 18,058 | 18,339 | ||||||
| Operating lease liability, noncurrent | 13,517 | 14,042 | ||||||
| Long-term debt | 246 | 525 | ||||||
| Other noncurrent liabilities | 2,456 | 2,307 | ||||||
| Total liabilities | 124,980 | 119,803 | ||||||
| Stockholders’ equity: | ||||||||
| Common stock, | 130 | 129 | ||||||
| Additional paid-in capital | 451,846 | 441,107 | ||||||
| Accumulated deficit | (132,761 | ) | (101,738 | ) | ||||
| Accumulated other comprehensive income | 2,739 | 2,241 | ||||||
| Total stockholders’ equity | 321,954 | 341,739 | ||||||
| Total liabilities and stockholders’ equity | $ | 446,934 | $ | 461,542 | ||||
Consolidated Statements of Operations and Comprehensive Loss (Unaudited) | ||||||||||||||||
| Three months ended | Six months ended | |||||||||||||||
| (In thousands, except share and per share data) | 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Revenue, net: | ||||||||||||||||
| Product | $ | 32,556 | $ | 31,415 | $ | 61,335 | $ | 59,525 | ||||||||
| Service | 15,584 | 14,187 | 30,940 | 27,534 | ||||||||||||
| Total revenue, net | 48,140 | 45,602 | 92,275 | 87,059 | ||||||||||||
| Cost of sales: | ||||||||||||||||
| Product | 12,884 | 14,921 | 28,805 | 30,450 | ||||||||||||
| Service | 6,916 | 6,814 | 13,876 | 12,585 | ||||||||||||
| Total cost of sales | 19,800 | 21,735 | 42,681 | 43,035 | ||||||||||||
| Gross profit | 28,340 | 23,867 | 49,594 | 44,024 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 9,741 | 8,826 | 19,345 | 18,550 | ||||||||||||
| Sales and marketing | 13,174 | 12,134 | 24,820 | 24,643 | ||||||||||||
| General and administrative | 16,825 | 13,531 | 35,292 | 26,429 | ||||||||||||
| Total operating expenses | 39,740 | 34,491 | 79,457 | 69,622 | ||||||||||||
| Loss from operations | (11,400 | ) | (10,624 | ) | (29,863 | ) | (25,598 | ) | ||||||||
| Other income (expense): | ||||||||||||||||
| Interest expense | (281 | ) | (414 | ) | (543 | ) | (705 | ) | ||||||||
| Interest income | 819 | 555 | 1,606 | 1,063 | ||||||||||||
| Other income (expense), net | (781 | ) | 3,708 | (216 | ) | 7,199 | ||||||||||
| Total other income (expense), net | (243 | ) | 3,849 | 847 | 7,557 | |||||||||||
| Loss before income taxes | (11,643 | ) | (6,775 | ) | (29,016 | ) | (18,041 | ) | ||||||||
| Provision for (benefit from) income taxes | 515 | (1,192 | ) | 2,008 | (1,056 | ) | ||||||||||
| Net loss | $ | (12,158 | ) | $ | (5,583 | ) | $ | (31,024 | ) | $ | (16,985 | ) | ||||
| Net loss, basic and diluted | $ | (12,158 | ) | $ | (5,583 | ) | $ | (31,024 | ) | $ | (16,985 | ) | ||||
| Net loss per share, basic | $ | (0.09 | ) | $ | (0.04 | ) | $ | (0.24 | ) | $ | (0.13 | ) | ||||
| Net loss per share, diluted | $ | (0.09 | ) | $ | (0.04 | ) | $ | (0.24 | ) | $ | (0.13 | ) | ||||
| Weighted-average shares used in calculating net loss per share, basic | 129,460,518 | 126,934,294 | 129,084,814 | 127,632,999 | ||||||||||||
| Weighted-average shares used in calculating net loss per share, diluted | 129,460,518 | 126,934,294 | 129,084,814 | 127,632,999 | ||||||||||||
| Comprehensive loss: | ||||||||||||||||
| Net loss | $ | (12,158 | ) | $ | (5,583 | ) | $ | (31,024 | ) | $ | (16,985 | ) | ||||
| Foreign currency translation adjustment, net of tax | 517 | 603 | 845 | 43 | ||||||||||||
| Unrealized loss on marketable securities | (147 | ) | (33 | ) | (348 | ) | (98 | ) | ||||||||
| Net comprehensive loss | $ | (11,788 | ) | $ | (5,013 | ) | $ | (30,527 | ) | $ | (17,040 | ) | ||||
Reconciliation of GAAP to Non-GAAP Measures (Unaudited) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| (In thousands) | ||||||||||||||||
| GAAP gross profit | $ | 28,340 | $ | 23,867 | $ | 49,594 | $ | 44,024 | ||||||||
| Stock based compensation | $ | 736 | $ | 1,110 | $ | 1,465 | $ | 2,196 | ||||||||
| Amortization of acquisition-related intangible assets | $ | 490 | $ | 481 | $ | 984 | $ | 974 | ||||||||
| Non-GAAP adjusted gross profit | $ | 29,566 | $ | 25,458 | $ | 52,043 | $ | 47,194 | ||||||||
| GAAP gross margin | 59 | % | 52 | % | 54 | % | 51 | % | ||||||||
| Non-GAAP adjusted gross margin | 61 | % | 56 | % | 56 | % | 54 | % | ||||||||
| GAAP net income | $ | (12,158 | ) | $ | (5,583 | ) | $ | (31,024 | ) | $ | (16,985 | ) | ||||
| Depreciation and amortization | $ | 2,985 | $ | 2,988 | $ | 5,797 | $ | 5,869 | ||||||||
| Provision for (benefit from) income taxes | $ | 515 | $ | (1,192 | ) | $ | 2,008 | $ | (1,056 | ) | ||||||
| Interest income | $ | (819 | ) | $ | (555 | ) | $ | (1,606 | ) | $ | (1,062 | ) | ||||
| Interest expense | $ | 281 | $ | 414 | $ | 543 | $ | 705 | ||||||||
| Foreign currency exchange loss (gain) | $ | 729 | $ | (1,593 | ) | $ | 1,881 | $ | (2,871 | ) | ||||||
| Stock based compensation | $ | 5,339 | $ | 6,791 | $ | 10,200 | $ | 13,420 | ||||||||
| $ | 1,587 | $ | — | $ | 1,587 | $ | — | |||||||||
| Non-GAAP adjusted EBITDA | $ | (1,541 | ) | $ | 1,270 | $ | (10,614 | ) | $ | (1,980 | ) | |||||
| Investment income | $ | (1,383 | ) | $ | (2,048 | ) | $ | (3,012 | ) | $ | (4,309 | ) | ||||
| Non-GAAP adjusted EBITDA excluding investment income | $ | (2,924 | ) | $ | (778 | ) | $ | (13,626 | ) | $ | (6,289 | ) | ||||
