CTKB · Cytek Biosciences, Inc.

Cytek Biosciences delivered first quarter 2026 results with total revenue of $44.1 million, reflecting a 6% year-over-year increase driven by robust performance in the US market and sustained growth in service and reagent revenues globally. Service revenue rose 15% to $15.4 million, while total recurring revenue hit $18.4 million, elevating its trailing-12-month share to 35% of total revenue from 31% a year ago, signaling strengthening customer retention and usage of the installed base, which expanded to 3,789 instruments after adding 125 units. GAAP gross profit increased 5% to $21.3 million, though the margin dipped slightly to 48% from 49%, with adjusted margin at 51% versus 52%. Operating expenses climbed 13% to $39.7 million, primarily from a 43% surge in G&A to $18.5 million due to litigation, consulting, and bad debt provisions, outweighing reductions in R&D (down 1% to $9.6 million) and sales & marketing (down 7% to $11.6 million). This led to an operating loss of $18.5 million, up from $15.0 million, and net loss of $18.9 million versus $11.4 million prior year. Adjusted EBITDA loss widened to $9.1 million from $3.3 million. Balance sheet remains solid with $262.2 million in cash and marketable securities as of March 31, 2026, up slightly from year-end. CEO Wenbin Jiang highlighted technology leadership and recurring revenue momentum amid global challenges, positioning the company for the year ahead. Cytek reaffirmed its 2026 revenue outlook of $205-212 million, implying 2-5% growth over 2025 at current FX rates, underscoring confidence in instrument placements and consumables pull-through.