Cytek Q1 revenue $37.1M (+6% YoY); net loss widens to $6.8M; organic revenue -4%; revises FY23 outlook to $205-220M

Cytek Biosciences, Inc.

Total revenue $37.1M, up 6% YoY; constant-currency revenue $38.1M (+9%).
Organic revenue (ex-Luminex) $33.7M, down 4% YoY; U.S. pharma/biotech weakness cited.
Net loss $6.8M vs $2.2M loss in Q1 2022; adjusted EBITDA -$2.5M vs +$1.9M.
Completed Luminex flow cytometry asset acquisition for $44.9M on Feb 28, 2023; contributed $3.4M revenue.
Revised FY2023 revenue guidance to $205-220M (25-34% growth), citing macro uncertainties and longer sales cycles.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Cytek Biosciences, Inc. reported the first quarter ended March 31, 2023 results: revenue $37.1 million, net income $6.8 million.

Period: the first quarter ended March 31, 2023
Revenue: $37.1 million
Net income: $6.8 million
Result: reported results

Exact text from the filing

First Quarter Highlights • Total revenue was $37.1 million, or $38.1 million on a constant currency basis, representing 6% and 9% increases respectively, over the first quarter of 2022. • Organic revenue for Cytek’s existing product portfolio was $33.7 million in the first quarter of 2023, representing a decline of 4% compared to the first quarter of 2022 • Revenue from the product lines acquired from Luminex Corporation, which closed February 28, 2023, was $3.4 million • Net loss was $6.8 million and adjusted EBITDA was $(2.5) million for the first quarter of 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Cytek Biosciences, Inc. reported full year 2023 results: revenue $205 million to $220 million. Guidance lowered.

Period: full year 2023
Revenue: $205 million to $220 million
Guidance: lowered
Result: guidance update

Exact text from the filing

As a result of macro-economic uncertainties causing longer sales cycles, Cytek Biosciences has revised its full year 2023 revenue outlook and now expects total revenue to be in the range of $205 million to $220 million, representing growth of 25% to 34% over full year 2022.

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Cytek Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-139445

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