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Cytek revenue rises as net loss more than doubles in Q2
Cytek reported 3,933 instruments in its installed base as of June 30, and recurring service and reagent revenue reached $18.5 million in the quarter.
Cytek Biosciences (NASDAQ: CTKB) reported second-quarter results for the period ended June 30, showing a split picture for investors, with revenue and margins improving while losses widened. Yahoo Finance said total revenue rose to $48.1 million, up 6% year over year, supported by a growing installed base of instruments and related recurring revenue streams.
The company expanded its installed base to 3,933 instruments as of June 30, adding 142 units during the quarter. Recurring revenue from service and reagents was $18.5 million in Q2, and it represented 35% of trailing 12-month revenue, up from 32% a year earlier.
On profitability, Cytek increased gross profit 19% to $28.3 million. GAAP gross margin rose to 59% from 52%, and adjusted gross margin reached 61% from 56%, with some of the improvement attributed to a one-time tariff refund, while adjusted gross margin excluding it still improved to 56%.
Cytek’s loss trends moved in the opposite direction as operating expenses rose 15% to $39.7 million. General and administrative costs increased 24% to $16.8 million on litigation-related expenses, severance, and other personnel costs, with R&D up 10% to $9.7 million and sales and marketing up 9% to $13.2 million, pushing the operating loss to $11.4 million and net loss to $12.2 million from $5.6 million a year earlier. The company also raised full-year revenue guidance to a range of $207 million to $212 million, moving the midpoint up by $1 million.
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