Loss from operations in the first quarter of 2024 was $10.7 million compared to loss from operations of
$12.2 million in the first quarter of 2023. Net loss in the first quarter of 2024 was $6.2 million compared to a net loss of $6.8 million in the first quarter of 2023.
Adjusted EBITDA in the first quarter of 2024 was a loss of $0.7 million compared to a loss of $2.5 million in the first quarter of 2023, after
adjusting for stock-based compensation expense, foreign currency exchange impacts and acquisition-related expenses.
Cash, restricted cash, and marketable
securities were approximately $270.4 million as of March 31, 2024, compared to $262.7 million as of December 31, 2023.
2024
Outlook
Cytek Biosciences reaffirms its 2024 revenue guidance, expecting full year 2024 revenue in the range of $203 million to
$213 million, representing growth of 5% to 10% over full year 2023, assuming no change in currency exchange rates. For the year ending December 31, 2024, Cytek Biosciences expects to report positive net income.
Webcast Information
Cytek will host a conference call to
discuss the first quarter 2024 financial results on Wednesday, May 8, 2024, at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. A webcast of the conference call can be accessed 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. Cyteks 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. Cyteks FSP platform includes its core instruments, the Cytek Aurora and Northern Lights systems; its cell sorter, the Cytek Aurora CS; the Cytek Orion reagent
cocktail preparation system; the flow cytometer and imaging products under the Amnis® and Guava® brands; and reagents, software and
services 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.
Cyteks products are for research use only and not for use in diagnostic procedures (other than Cyteks 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, 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 Cyteks website, LinkedIn page, and X account in
addition to following its SEC filings, news releases, public conference calls and webcasts.