Cytek Biosciences (CTKB) investor relations material

Executive summary

• Q3 revenue was $53.2M, up 2% YoY and 11% sequentially, supported by U.S. growth, high-end instrument demand and service gains.

• GAAP gross margin improved 590 bps to 59%; net loss was $6.1M versus $5.5M a year earlier.

• FY2026 revenue guidance narrowed to $208M–$211M with the midpoint maintained; adjusted EBITDA is expected around break-even.

Financial highlights

• Q3 product revenue fell 3% to $37.2M, while service revenue grew 13% to $16.1M; gross profit was $31.2M versus $27.6M.

• Operating expenses rose 8% to $39.6M, including $3M higher legal expenses; operating loss narrowed to $8.4M from $9.2M.

• Adjusted EBITDA was $0.7M versus $2.5M; excluding investment income, adjusted EBITDA was a loss of $0.5M versus income of $0.5M.

• 9M revenue increased 4% to $145.5M; net loss widened to $37.1M from $22.5M, and adjusted EBITDA was a loss of $9.9M versus income of $0.5M.

Outlook and guidance

• FY2026 revenue guidance narrowed to $208M–$211M, maintaining the midpoint and assuming no change in current FX rates; the range implies 3%–5% YoY growth.

• Q4 revenue is expected to be meaningfully higher than Q3 on seasonality, year-end customer purchases and continued service growth; adjusted EBITDA is expected to improve meaningfully.

• FY2026 adjusted EBITDA is expected around break-even, supported by seasonal growth and meaningfully lower litigation spending.

• 2027 is expected to outgrow the market and peers with improving profitability; more specific guidance is planned with Q4 results in late February or early March.