Cytek Biosciences (CTKB) investor relations material

Executive summary

• Q3 2025 revenue reached $52.3 million, up 2% year-over-year, driven by strong APAC, US, and recurring revenue growth, while EMEA declined due to reduced academic and government spending.

• Net loss for Q3 2025 was $5.5 million, compared to net income of $0.9 million in Q3 2024, with nine-month net loss widening to $22.5 million from $15.7 million a year ago.

• Service and reagent revenue grew 19% year-over-year, reflecting a larger installed base and increased maintenance activity.

• Installed base expanded by 161 instruments to 3,456 units; Aurora cell folder grew 35% year-over-year.

• European headquarters in Amsterdam expanded by over 40% to enhance logistics, customer service, and training.

Financial highlights

• Product revenue decreased 4% year-over-year, with a 26% decline in EMEA offset by 19% growth in APAC.

• GAAP gross profit was $27.6 million, down 5% year-over-year; gross margin was 53% versus 56% last year.

• Adjusted gross margin was 55%, down from 60% in Q3 2024.

• Operating expenses rose 10% to $36.7 million, mainly due to higher G&A expenses from patent litigation and a non-recurring $0.7 million write-off.

• Net loss was $5.5 million versus net income of $0.9 million in Q3 2024; adjusted EBITDA declined to $2.5 million from $7.6 million.

Outlook and guidance

• Full-year 2025 revenue guidance reaffirmed at $196–$205 million, assuming stable currency rates.

• Expect continued strong growth in APAC, stable U.S. performance, and ongoing EMEA challenges.

• Management anticipates continued investment in R&D, commercial infrastructure, and geographic expansion, with expenses expected to rise.

• Anticipate positive adjusted EBITDA in Q4 and continued investment for growth.

• Existing cash and anticipated cash flows expected to meet working capital and capital expenditure needs for at least the next 12 months.