$CTKB

Cytek Biosciences, Inc.

CIK:0001831915|SEC Filings

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue, net:
Total revenue, net	$ 48,140	$ 45,602	$ 92,275	$ 87,059
Cost of sales:
Total cost of sales	19,800	21,735	42,681	43,035
Gross profit	28,340	23,867	49,594	44,024
Operating expenses:
Research and development	9,741	8,826	19,345	18,550
Sales and marketing	13,174	12,134	24,820	24,643
General and administrative	16,825	13,531	35,292	26,429
Total operating expenses	39,740	34,491	79,457	69,622
Loss from operations	(11,400)	(10,624)	(29,863)	(25,598)
Other income (expense):
Interest expense	(281)	(414)	(543)	(705)
Interest income	819	555	1,606	1,063
Other income (expense), net	(781)	3,708	(216)	7,199
Total other income (expense), net	(243)	3,849	847	7,557
Loss before income taxes	(11,643)	(6,775)	(29,016)	(18,041)
Provision for (benefit from) income taxes	515	(1,192)	2,008	(1,056)
Net loss	(12,158)	(5,583)	(31,024)	(16,985)
Net loss, basic	(12,158)	(5,583)	(31,024)	(16,985)
Net loss, diluted	$ (12,158)	$ (5,583)	$ (31,024)	$ (16,985)
Net loss per share, basic (in dollars per share)	$ (0.09)	$ (0.04)	$ (0.24)	$ (0.13)
Net loss per share, diluted (in dollars per share)	$ (0.09)	$ (0.04)	$ (0.24)	$ (0.13)
Weighted-average shares used in calculating net loss per share, basic (in shares)	129,460,518	126,934,294	129,084,814	127,632,999
Weighted-average shares used in calculating net loss per share, diluted (in shares)	129,460,518	126,934,294	129,084,814	127,632,999
Comprehensive loss:
Foreign currency translation adjustment, net of tax	$ 517	$ 603	$ 845	$ 43
Unrealized loss on marketable securities	(147)	(33)	(348)	(98)
Net comprehensive loss	(11,788)	(5,013)	(30,527)	(17,040)
Product
Revenue, net:
Total revenue, net	32,556	31,415	61,335	59,525
Cost of sales:
Total cost of sales	12,884	14,921	28,805	30,450
Service
Revenue, net:
Total revenue, net	15,584	14,187	30,940	27,534
Cost of sales:
Total cost of sales	$ 6,916	$ 6,814	$ 13,876	$ 12,585

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (31,024)	$ (16,985)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	3,874	3,765
Amortization of operating lease-right-of use assets	1,924	2,107
Stock-based compensation	10,200	13,420
Loss on disposal of property and equipment	193	253
Provision for credit losses	513	52
Provision for excess and obsolete inventory	633	335
Deferred income taxes	(183)	(2,392)
Gain on investments, accretion, and amortization, net	(2,553)	(3,108)
Interest expenses for accretion of the legal settlement liabilities	39	292
Other non-cash expense (income), net	1,824	0
Change in operating assets and liabilities:
Trade accounts receivable	11,616	7,101
Inventories	(4,486)	(5,073)
Prepaid expenses and other assets	1,604	(419)
Trade accounts payable	2,130	1,169
Accrued expenses and other liabilities	227	670
Legal settlement liabilities	(599)	(588)
Operating lease liabilities	1,923	(2,197)
Deferred revenue	775	1,581
Net cash (used in) operating activities	(1,369)	(17)
Cash flows from investing activities:
Purchases of marketable securities	(156,901)	(141,423)
Proceeds from maturities of marketable securities	141,280	136,906
Proceeds from sale of property and equipment	9	56
Purchase of property and equipment	(4,384)	(2,426)
Purchase of intangible assets	(61)	(76)
Net cash (used in) investing activities	(20,057)	(6,961)
Cash flows from financing activities:
Repayment of loan	(2,482)	(1,660)
Proceeds from Employee Stock Purchase Plan	851	703
Payments for taxes related to net share settlement of equity awards	(423)	(231)
Proceeds from issuance of common stock under employee stock plans	112	103
Proceeds from line of credit	5,109	2,075
Payments for repurchase of shares	0	(15,137)
Net cash provided by (used in) financing activities	3,167	(14,147)
Effect of exchange rate changes on cash and cash equivalents	1,252	(2,149)
Cash and cash equivalents:
Net (decrease) in cash and cash equivalents	(17,007)	(23,275)
Cash and cash equivalents at beginning of period	90,853	98,745
Cash and cash equivalents at end of period	73,846	75,470
Supplemental disclosure of cash flow information:
Cash paid for taxes, net of refunds	(3,138)	25
Interest received on tax refunds	(180)	0
Non-cash investing and financing activities:
Fixed asset purchases in accounts payable or accrued purchase at period end	605	40
Transfer of inventory to property and equipment	94	91
Intangible asset in accounts payable or accrued expenses at period end	0	16
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 1,082	$ 8,033

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 73,846	$ 90,853
Marketable securities	188,158	170,676
Trade accounts receivable, net	49,698	62,509
Inventories	52,251	48,428
Prepaid expenses and other current assets	13,978	19,530
Total current assets	377,931	391,996
Property and equipment, net	20,801	18,009
Operating lease right-of-use assets	10,962	11,315
Goodwill	16,690	16,697
Intangible assets, net	14,865	16,821
Other noncurrent assets	5,685	6,704
Total assets	446,934	461,542
Current liabilities:
Trade accounts payable	8,408	6,410
Legal settlement liability, current	2,353	2,495
Accrued expenses	23,855	23,417
Other current liabilities	20,513	16,978
Deferred revenue, current	29,206	28,504
Total current liabilities	84,335	77,804
Legal settlement liability, noncurrent	6,368	6,786
Deferred revenue, noncurrent	18,058	18,339
Operating lease liability, noncurrent	13,517	14,042
Long-term debt	246	525
Other noncurrent liabilities	2,456	2,307
Total liabilities	124,980	119,803
Commitments and contingencies (Note 17)
Stockholders’ equity:
Common stock, $0.001 par value; 1,000,000,000 authorized shares as of June 30, 2026 and December 31, 2025, respectively; 129,982,753 and 128,550,136 issued and outstanding shares as of June 30, 2026 and December 31, 2025, respectively	130	129
Additional paid-in capital	451,846	441,107
Accumulated deficit	(132,761)	(101,738)
Accumulated other comprehensive income	2,739	2,241
Total stockholders’ equity	321,954	341,739
Total liabilities and stockholders’ equity	$ 446,934	$ 461,542