Cytek Biosciences (CTKB) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $48.1 million, up 6% year-over-year, driven by strong instrument sales and service growth in the U.S. and China.

• New product launches included the Cytek Borealis 60-color, seven-laser cytometer and enhanced Aurora Evo automation, reinforcing technology leadership.

• Installed base expanded to 3,933 instruments, with 142 units added in Q2.

• Net loss for Q2 2026 was $12.2 million, compared to $5.6 million in Q2 2025, due to higher operating expenses and a non-recurring investment write-off.

• Strategic reorganization into three customer-aligned business units is underway to drive growth and market penetration.

Financial highlights

• Product revenue was $32.6 million (up 4% year-over-year); service revenue grew 10% to $15.6 million.

• GAAP gross profit was $28.3 million (59% margin), including a one-time $2.8 million tariff refund; excluding this, gross margin was 53%.

• Adjusted gross margin was 61% in Q2 2026, up from 56% year-over-year; excluding the tariff refund, adjusted gross margin was 56%.

• Operating expenses rose 15% year-over-year to $39.7 million, with increases in R&D, sales and marketing, and G&A due to litigation, severance, and personnel costs.

• Cash, cash equivalents, and marketable securities totaled $262 million at quarter-end.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $207–$212 million, with the midpoint up $1 million.

• Expect higher revenue in Q4 versus Q3, consistent with seasonal patterns.

• Anticipate breakeven Adjusted EBITDA for full-year 2026.

• Continued growth expected in service and reagent revenue, with instrument revenue at the higher end of prior assumptions.

• Existing cash and anticipated cash flows are expected to cover working capital and capital expenditures for at least the next 12 months.