Cytek Biosciences (CTKB) Q4 2025 earnings summary

Executive summary

• Achieved record Q4 2025 revenue of $62.1M, up 8% year-over-year, and full-year revenue of $201.5M, up 1% year-over-year, despite challenging industry conditions.

• Recurring revenue grew 21% in 2025, now comprising 34% of total revenue.

• Growth driven by stabilization in the U.S., turnaround in EMEA, and continued strength in APAC, with recurring revenue and new product launches contributing.

• Expanded installed base to 3,664 instruments, with 630 new placements in 2025; Aurora Evo and Muse Micro cell analyzer launched, with Muse Micro winning a 2025 industry award.

• Established a new manufacturing facility in Singapore, enhancing supply chain resilience and mitigating tariff impacts.

Financial highlights

• Q4 2025 revenue reached $62.1M (+8% YoY); full-year revenue was $201.5M (+1% YoY).

• Q4 GAAP gross profit was $32.9M (53% margin), down from $33.7M (59%) YoY; adjusted gross margin was 55% (down from 61%).

• Full-year 2025 GAAP gross profit was $104.5M, down 6% YoY; gross margin fell to 52% from 55%.

• Q4 net loss was $44.1M, including a $38.1M non-cash deferred tax asset write-off; full-year net loss was $66.5M.

• Adjusted EBITDA for Q4 was $4.5M, down from $12.5M YoY; full-year adjusted EBITDA was $5M, down from $22.4M.

• Cash and marketable securities at year-end totaled $261.5M, after $15.1M in stock repurchases.

Outlook and guidance

• 2026 revenue guidance set at $205M–$212M, reflecting 2–5% growth, assuming constant currency and no major tariff changes.

• Expect continued strong growth in service and reagents, with flat to modest growth in instruments.

• Anticipate positive adjusted EBITDA in 2026, with ongoing investment in commercial and reagent sales teams.