Cytek Biosciences Announces Preliminary Full Year 2024 Revenue Results
Cytek Biosciences (CTKB) has announced preliminary unaudited revenue results for 2024, expecting full-year revenue between $200-201 million, representing 4% growth over 2023's $193.0 million. The company faced a $1.0 million negative foreign exchange impact.
Fourth quarter revenue is expected to be $57-58 million, showing 11-13% growth compared to Q3 2024, but a 2% decline to flat performance versus Q4 2023. The quarter was impacted by a $1.5 million negative effect from US dollar appreciation and order delays in some markets, although Asia Pacific and Rest of World markets showed strong growth.
The company will report detailed financial results and provide 2025 guidance during its earnings call expected in late February 2025.
Cytek Biosciences (CTKB) ha annunciato risultati preliminari di fatturato non verificati per il 2024, prevedendo un fatturato annuale compreso tra 200-201 milioni di dollari, che rappresenta una crescita del 4% rispetto ai 193,0 milioni di dollari del 2023. L'azienda ha subito un impatto negativo di 1,0 milioni di dollari a causa delle fluttuazioni valutarie.
Il fatturato del quarto trimestre è previsto tra 57-58 milioni di dollari, con una crescita dell'11-13% rispetto al terzo trimestre del 2024, ma con un declino del 2% o una situazione stagnante rispetto al quarto trimestre del 2023. Il trimestre è stato influenzato da un effetto negativo di 1,5 milioni di dollari dovuto all'apprezzamento del dollaro statunitense e ai ritardi negli ordini in alcuni mercati, sebbene i mercati dell'Asia Pacifico e del resto del mondo abbiano mostrato una forte crescita.
L'azienda riporterà risultati finanziari dettagliati e fornirà previsioni per il 2025 durante la sua chiamata sugli utili prevista per la fine di febbraio 2025.
Cytek Biosciences (CTKB) ha anunciado resultados preliminares de ingresos no auditados para 2024, esperando ingresos anuales entre 200-201 millones de dólares, lo que representa un crecimiento del 4% en comparación con los 193,0 millones de dólares de 2023. La compañía enfrentó un impacto negativo de 1,0 millones de dólares debido a la fluctuación del tipo de cambio.
Se espera que los ingresos del cuarto trimestre estén entre 57-58 millones de dólares, mostrando un crecimiento del 11-13% en comparación con el tercer trimestre de 2024, pero un descenso del 2% o un rendimiento plano en comparación con el cuarto trimestre de 2023. El trimestre se vio afectado por un efecto negativo de 1,5 millones de dólares debido a la apreciación del dólar estadounidense y a los retrasos en los pedidos en algunos mercados, aunque los mercados de Asia-Pacífico y el resto del mundo mostraron un fuerte crecimiento.
La compañía informará sobre los resultados financieros detallados y proporcionará orientación para 2025 durante su llamada de ganancias que se espera para finales de febrero de 2025.
Cytek Biosciences (CTKB)는 2024년 비감사 예비 수익 결과를 발표하며, 연간 수익이 2억~2억 1천만 달러
4분기 수익은 5천7백만~5천8백만 달러에 이를 것으로 예상되며, 이는 2024년 3분기에 비해 11-13% 성장하였으나, 2023년 4분기에 비해 2% 감소 또는 보합세를 보일 것으로 보입니다. 이번 분기는 미국 달러의 가치 상승으로 인한 150만 달러의 부정적인 영향과 일부 시장에서의 주문 지연으로 인해 영향을 받았지만, 아시아 태평양 및 기타 지역 시장은 강력한 성장을 보였습니다.
회사는 2025년 가이던스를 제공하며 금융 결과에 대한 구체적인 내용을 2025년 2월 말에 예정된 실적 발표 전화에서 보고할 것입니다.
Cytek Biosciences (CTKB) a annoncé des résultats préliminaires de revenus non audités pour 2024, prévoyant des revenus annuels compris entre 200-201 millions de dollars, ce qui représente une croissance de 4 % par rapport à 193,0 millions de dollars en 2023. L'entreprise a subi un impact négatif de 1,0 million de dollars dû à des fluctuations de change.
Les revenus du quatrième trimestre devraient se situer entre 57-58 millions de dollars, affichant une croissance de 11-13 % par rapport au troisième trimestre 2024, mais un déclin de 2 % ou un résultat stable par rapport au quatrième trimestre 2023. Le trimestre a été impacté par un effet négatif de 1,5 million de dollars dû à l'appréciation du dollar américain et à des retards dans les commandes sur certains marchés, bien que les marchés de la région Asie-Pacifique et du reste du monde aient montré une forte croissance.
L'entreprise fera rapport des résultats financiers détaillés et fournira des prévisions pour 2025 lors de son appel sur les résultats, prévu pour fin février 2025.
Cytek Biosciences (CTKB) hat vorläufige, ungeprüfte Umsatzergebnisse für 2024 angekündigt und erwartet einen Jahresumsatz zwischen 200-201 Millionen USD, was einem Wachstum von 4% gegenüber 193,0 Millionen USD im Jahr 2023 entspricht. Das Unternehmen sah sich einem negativen Währungsumrechnungseffekt von 1,0 Millionen USD gegenüber.
Der Umsatz im vierten Quartal wird voraussichtlich zwischen 57-58 Millionen USD liegen und ein Wachstum von 11-13% im Vergleich zum dritten Quartal 2024 zeigen, jedoch einen Rückgang von 2% oder eine stagnierende Leistung im Vergleich zum vierten Quartal 2023 verzeichnen. Das Quartal war von einem negativen Effekt von 1,5 Millionen USD aufgrund der Aufwertung des US-Dollars und von Bestellverzögerungen in einigen Märkten betroffen, obwohl die Märkte im asiatisch-pazifischen Raum und der Rest der Welt stark gewachsen sind.
Das Unternehmen wird während seines voraussichtlich Ende Februar 2025 stattfindenden Gewinnaufrufs detaillierte Finanz Ergebnisse vorstellen und eine Prognose für 2025 abgeben.
- Full-year revenue growth of 4% to $200-201 million
- Q4 revenue shows 11-13% sequential growth from Q3 2024
- Strong growth in Asia Pacific and Rest of World markets
- Q4 revenue declined up to 2% year-over-year
- Negative forex impact of $1.5M in Q4
- Order delays in some markets
- Q4 performance below company expectations
Insights
The preliminary revenue results from Cytek Biosciences reveal concerning trends. While the company projects
Key financial metrics breakdown:
- Q4 2024 expected revenue of
$57-58 million shows11-13% sequential growth but flat to negative YoY performance - Currency headwinds impacted revenue by
$1.5 million in Q4 and$1.0 million for the full year - Growth primarily driven by Asia Pacific and Rest of World markets, indicating potential weakness in other regions
The order delays mentioned in certain markets, combined with currency headwinds, raise concerns about near-term growth trajectory. While management remains optimistic about long-term potential, the immediate growth profile appears challenging, warranting careful monitoring of upcoming detailed financial results and 2025 guidance.
The cell analysis solutions market context is important for interpreting these results. Cytek's modest growth in a typically high-growth sector suggests potential market share challenges or broader industry headwinds. The geographical performance divergence, with strength in Asia Pacific but challenges elsewhere, indicates shifting market dynamics that could impact competitive positioning.
Think of Cytek's situation like a race car that's technically sound but facing headwinds - while the fundamentals remain intact, external forces are hampering optimal performance. The company's ability to maintain
For investors, the key focus should be on the upcoming detailed financial results and particularly the 2025 guidance, which will provide important insights into whether current challenges are temporary or indicative of longer-term structural issues.
FREMONT, Calif., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Cytek Biosciences, Inc. (Nasdaq: CTKB), a leading cell analysis solutions company, today announced preliminary, unaudited revenue results for the full year ended December 31, 2024.
Cytek expects its full year revenue for 2024 to be between
“Our fourth quarter revenue was significantly higher than the prior quarters of 2024, consistent with our historical pattern, although it was slightly below expectations due to the impact of the appreciation of the US dollar against other currencies in which we do business, and order delays in some markets. Our revenue in Asia Pacific and Rest of World markets grew strongly,” said Dr. Wenbin Jiang, CEO of Cytek Biosciences. “Despite these headwinds, we remain confident in Cytek’s long-term potential and business strategy. There is a large and growing opportunity for our advanced cell analysis tools, and with strong execution across our portfolio, we are well positioned to deliver sustainable growth and profitability.”
The preliminary financial results in this press release are not a comprehensive statement of Cytek’s financial results for the fourth quarter and full year ended December 31, 2024, and have not been audited, reviewed or compiled by its independent registered public accounting firm. Cytek’s actual revenue may differ from the estimate due to the completion of the Company’s year-end closing and auditing procedures and is therefore subject to adjustment. Cytek plans to report financial results for the fourth quarter and full year ended December 31, 2024, and to provide 2025 financial guidance during its earnings call expected to be held near the end of February 2025.
J.P. Morgan Healthcare Conference
Cytek will present and participate in a Q&A session at the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco, CA on January 16, 2025, at 8:15 a.m. Pacific time. Interested parties may access a live and archived webcast of the presentation on the “Investors” section of the company website at: investors.cytekbio.com.
About Cytek Biosciences, Inc.
Cytek Biosciences (Nasdaq: CTKB) is a leading cell analysis solutions company advancing the next generation of cell analysis tools by delivering high-resolution, high-content and high-sensitivity cell analysis utilizing its patented Full Spectrum Profiling™ (FSP™) technology. Cytek’s novel approach harnesses the power of information within the entire spectrum of a fluorescent signal to achieve a higher level of multiplexing with precision and sensitivity. Cytek’s platform includes: its core FSP instruments, the Cytek Aurora™ and Northern Lights™ systems and the Cytek Aurora CS cell sorter; the Cytek Orion™ reagent cocktail preparation system; the Enhanced Small Particle™ (ESP™) detection technology; the flow cytometer and imaging products under the Amnis® and Guava® brands; and reagents, software and service to provide a comprehensive and integrated suite of solutions for its customers. Cytek is headquartered in Fremont, California with offices and distribution channels across the globe. More information about the company and its products is available at www.cytekbio.com.
Cytek’s products are for research use only and not for use in diagnostic procedures (other than Cytek’s Northern Lights-CLC system and certain reagents, which are available for clinical use in China and the European Union).
Cytek, Full Spectrum Profiling, FSP, Cytek Aurora, Northern Lights, Cytek Orion, Enhanced Small Particle, ESP, Amnis and Guava are trademarks of Cytek Biosciences, Inc.
In addition to filings with the Securities and Exchange Commission (SEC), press releases, public conference calls and webcasts, Cytek uses its website (www.cytekbio.com), LinkedIn page and X (formerly Twitter) account as channels of distribution of information about its company, products, planned financial and other announcements, attendance at upcoming investor and industry conferences and other matters. Such information may be deemed material information and Cytek may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Cytek’s website, LinkedIn page, and X account in addition to following its SEC filings, news releases, public conference calls and webcasts.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. All statements other than statements of historical facts, including statements regarding our future activity, if any, under the share repurchase program, including the timing of any such repurchases, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or the negative of these words or other similar terms or expressions. These statements are based on management’s current expectations, forecasts, beliefs, assumptions and information currently available to management. These forward-looking statements include statements regarding Cytek’s expected revenue for the fourth quarter and full year ended December 31, 2024; and Cytek’s long-term potential, business strategy, market opportunity and future growth and profitability. Cytek’s audited financial results for the full year ended December 31, 2024 are not yet available and its preliminary expectations regarding revenue for the period are subject to review by Cytek’s management and audit by Cytek’s independent registered public accounting firm. These statements are based on management’s current expectations, forecasts, beliefs, assumptions and information currently available to management. These statements also deal with future events and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially include adjustments to the estimate that may be required in connection with the completion of the Company’s year-end closing and auditing procedures and risks and uncertainties relating to global economic, political and market conditions; competition; market acceptance of Cytek’s current and potential products; Cytek’s dependence on certain sole and single source suppliers; Cytek’s ability to manage the growth and complexity of its organization; Cytek’s ability to manage relationships with key customers and suppliers; Cytek’s ability to retain key employees; and Cytek’s ability to continue to stay in compliance with its material contractual obligations, applicable laws and regulations. You should refer to the section entitled “Risk Factors” set forth in Cytek’s Quarterly Report on Form 10-Q filed on November 7, 2024 with the SEC, and other filings Cytek makes with the SEC from time to time for a discussion of important factors that may cause actual results to differ materially from those expressed or implied by Cytek’s forward-looking statements. Although Cytek believes that the expectations reflected in the forward-looking statements are reasonable, it cannot provide any assurance that these expectations will prove to be correct nor can it guarantee that the events and circumstances reflected in the forward-looking statements will occur. The forward-looking statements in this press release are based on information available to Cytek as of the date hereof, and Cytek disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing Cytek’s as of any date subsequent to the date of this press release.
Media Contact:
Stephanie Olsen
Lages & Associates
(949) 453-8080
stephanie@lages.com
Investor Contact:
Paul Goodson
Head of Investor Relations
Cytek Biosciences
pgoodson@cytekbio.com
FAQ
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