Quarterly ResultMay 7, 2026, 04:24 PM
Cytek Biosciences Q1 Revenue $44.1M, Net Loss $18.9M
AI Summary
Cytek Biosciences reported its first quarter 2026 financial results, with total revenue increasing 6% year-over-year to $44.1 million. Service revenue saw a 15% increase, and recurring revenue grew to 35% of total revenue on a trailing-12-month basis. Despite revenue growth and an expanding installed base, the company experienced a wider net loss of $18.9 million and an adjusted EBITDA loss of $9.1 million, primarily due to increased general and administrative expenses. Cytek Biosciences reaffirmed its full-year 2026 revenue guidance of $205 million to $212 million.
Key Highlights
- Total revenue for Q1 2026 was $44.1 million, a 6% increase year-over-year.
- Service revenue for Q1 2026 increased 15% to $15.4 million.
- Total recurring revenue reached $18.4 million, representing 35% of total revenue on a trailing-12-month basis.
- Installed base expanded by 125 units to a total of 3,789 Cytek instruments.
- GAAP gross profit margin was 48% in Q1 2026, down from 49% in Q1 2025.
- Net loss for Q1 2026 was $18.9 million, compared to $11.4 million in Q1 2025.
- Adjusted EBITDA loss was $9.1 million in Q1 2026, compared to $3.3 million in Q1 2025.
- Cash and marketable securities totaled $262.2 million as of March 31, 2026.
- Reaffirmed 2026 revenue guidance in the range of $205 million to $212 million, representing 2% to 5% growth.