Cytek Biosciences, Inc.

cytekbio.com

What Do They Do?

Sells cell-analysis instruments, reagents and services to pharmaceutical and biotechnology companies, academic and government research institutions, and contract research organizations.

How Do They Make Money?

Customers buy instruments and accessories; invoices go out at shipment and payment is due in 30 to 90 days. Service contracts are invoiced upfront, generally due in 30 days, while installation and repair work is charged as delivered.

revenue

Segment	Share	Revenue	How money arrives
Product Sold outright	72% FY2022: 91%		Sold outright
Service Mix	28% FY2022: 9.4%		Mix

Who Are Their Customers?

Research institutions, contract research organizations, and pharmaceutical or biotechnology companies buy through direct sales teams in some regions and through distributors or sales agents in others.

Do Revenues Turn Into Profits?

No. It lost $66.5M in FY2025.

Operating income, FY2025

−20% of revenue

▲ +97% (Loss) vs FY2024 (−$20.5M, −10%)

Net income, FY2025

−33% of revenue

▲ +1005% (Loss) vs FY2024 (−$6M, −3%)

Free cash flow, FY2025

−4% of revenue

▼ Now a loss vs FY2024 ($21.9M, 11%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +6%; vs $45.6M in Q2 FY2025
Net income: ▲ +118% (Loss); vs −$5.6M in Q2 FY2025

Product share of revenue vs 68.9% in Q2 FY2025

Aug 24, 2026 Jury awards past damages in patent case; Cytek plans a challenge The award includes $20 million in lost profits and $36.11 million in royalties; Cytek plans post-verdict motions.
Aug 5, 2026 Raises midpoint of full-year revenue guidance The revised 2026 outlook is $207 million to $212 million, with the midpoint raised by $1 million.

Growing. Revenue grew 92.4x in 4 years, from $2.2M in FY2021 to $201.5M in FY2025, about 210% a year.

Broader instrument portfolio The older report centered on full-spectrum flow cytometers and related tools; the latest report also includes conventional flow and image-based instruments and related products and services under Amnis and Guava.

Paid software licensing The older report described software as part of the FSP platform; the latest report says Cytek has begun selling annual licenses for Cytek Cloud.

Revenue over time

Product Service

$250M$125M$0

FY2021 FY2022 FY2023 FY2024 FY2025

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