Cytek Biosciences (CTKB) investor relations material

Business performance and market trends

• Achieved 6% growth in H1 2026, surpassing initial guidance, driven by strong U.S. academic/government and global pharma demand.

• Demand environment improved significantly from last year, with U.S. academic/government up 50% and biopharma up 22% in Q2.

• China saw double-digit growth in Q2, with a 15%+ market share, while Europe remained soft due to government funding pressures.

• Replacement cycle for conventional flow cytometers is accelerating, with dedicated sales efforts targeting low/mid-end markets.

• Recurring revenue from service contracts covers about 60% of installed instruments, with stable growth and high margins.

Product innovation and portfolio evolution

• Full spectral profiling (FSP) technology has become the industry standard, with new products like Evo 2 and Borealis leading the market.

• Borealis, launched in June, offers over 60-color capability and integrated imaging, targeting high-end research and drug discovery.

• Evo 2 features enhanced automation for lab integration, with strong uptake and tripled volumes since launch.

• Dedicated business units and sales teams now focus on entry/mid-level and clinical markets, expanding reach beyond high-end research.

• Reagent business is being strengthened through faster delivery, expanded SKUs, and e-commerce investments.

Regional and end-market dynamics

• U.S. market is robust, benefiting from lifted funding uncertainties and NIH support.

• China maintains strong government-backed research funding, with Cytek well-positioned due to local manufacturing and high-end focus.

• Europe faces ongoing softness due to geopolitical pressures, but innovation funding and easier comps may support future recovery.

• APAC outside China is softer, impacted by economic caution and fuel prices.

• Biopharma growth is led by large pharma and biotech, with CROs as fleet buyers and U.S. reshoring boosting demand.