# Cytek Biosciences, Inc. (CTKB)

> Source: Nexqual · https://nexqual.com/CTKB · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Cytek Biosciences, Inc. (CTKB), nexqual.com/CTKB" · informational, not investment advice.

**Price:** USD 6.3 (+2.61% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 6.14 · day 6.01–6.33 · 52w 3.31–6.33 · market cap $819M · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $207M, net income -$80.6M (-39.0% margin), free cash flow -$12.1M (SEC filings).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (3 analysts), mean target USD 6.17 (range 5–7.5).
- Total return with dividends: 1Y +60.7% vs S&P 500 +14.8%; 5Y -72.4% vs S&P 500 +79.1%.
- Next earnings: 2026-11-04, EPS estimate USD -0.07, revenue estimate $52.9M. All companies reporting that day: https://nexqual.com/earnings/2026-11-04
- Dividend: CTKB paid no cash dividend in the last five years.
- Short interest: 4.29% of float (as of 2026-10-15), 2.7 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $128M | $164M | $193M | $200M | $201M | $207M |
| Gross profit | $79.1M | $101M | $109M | $111M | $104M | — |
| Operating income | $9.2M | -$1.8M | -$27.8M | -$20.5M | -$40.4M | -$44.6M |
| Net income | $3.0M | $2.5M | -$12.1M | -$6.0M | -$66.5M | -$80.6M |
| EPS (diluted) | $0.00 | $0.02 | -$0.09 | — | — | — |
| Free cash flow | $266K | -$22.0M | $633K | $21.9M | -$8.8M | -$12.1M |
| Gross margin | 61.9% | 61.6% | 56.7% | 55.4% | 51.8% | — |
| Operating margin | 7.2% | -1.1% | -14.4% | -10.2% | -20.0% | -21.6% |
| Net margin | 2.4% | 1.5% | -6.3% | -3.0% | -33.0% | -39.0% |
| Revenue growth | +37.8% | +28.2% | +17.7% | +3.9% | +0.5% | — |
| Cash + short-term investments | $365M | $297M | $167M | $98.7M | $90.9M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 4.0x · P/B 2.5x · FCF yield -1.48% · Earnings yield -9.84% · Buyback yield (TTM) 0.01%

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 3 analysts; mean target USD 6.17 (low 5, high 7.5).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +60.7% | -72.4% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | +61.2% | -22.6% |
| Volatility (annualized) | 55.2% | 64.0% |
| Max drawdown | -42.9% (Nov 2025→May 2026) | -90.2% (Nov 2021→May 2025) |

## Dividends
CTKB paid no cash dividend in the last five years.

## Short interest
4,409,745 shares sold short, 4.29% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 5,242,079 shares (-15.9%). Days to cover: 2.7 (short shares ÷ average daily volume).

## Peers (Medical Devices)
ATEC (Alphatec Holdings, Inc.) USD 11.37 -0.70% · BFLY (Butterfly Network, Inc.) USD 7.51 -3.84% · ESTA (Establishment Labs Holdings Inc) USD 68.41 -0.81% · INSP (Inspire Medical Systems, Inc.) USD 71.18 +0.30% · UFPT (UFP Technologies, Inc.) USD 293.3 +2.55% · TMDX (TransMedics Group, Inc.) USD 67.12 +0.33%

## More
Full page: https://nexqual.com/CTKB · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CTKB's own 10-K filed 2026-02-26 (https://www.sec.gov/Archives/edgar/data/1831915/000162828026012352/ctkb-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Coherent NA | "Pursuant to the Coherent Agreement, Coherent has agreed to sell and supply to us, Cytek Wuxi, and Cytek Singapore, on a non-exclusive basis, laser products manufactured by Coherent." |
| Partner | Biotium | "On September 1, 2020, we entered into a Supply and License Agreement with Biotium, Inc. ("Biotium") pursuant to which Biotium agreed to supply, and we obtained a worldwide, non-exclusive license to market and resell to o…" |
| Partner | Biosciences | "On January 6, 2025, Cytek (Shanghai) Biosciences Co., Ltd. signed a maximum credit agreement with the Bank of Ningbo for 10 million Chinese renminbi (approximately US $1.4 million)." |
| Partner | China Construction Bank | "On February 9, 2026, Cytek Wuxi entered into a one-year loan agreement with China Construction Bank Corporation, Wuxi Branch for 15 million Chinese renminbi (approximately US $2.2 million) at a fixed interest rate of 2.5…" |
| Competitor | Sony (SONY) | "Our direct competitors include Agilent Technologies, Beckman Coulter (Danaher Corporation), Bio-Rad Laboratories, Standard BioTools, Miltenyi Biotec, Sony Biotechnology (Sony Corporation), Thermo Fisher Scientific and Wa…" |
| Competitor | Thermo Fisher (TMO) | "Our competitors include Agilent Technologies, Beckman Coulter (Danaher Corporation), Bio-Rad Laboratories, Standard BioTools Inc., Miltenyi Biotec, Sony Biotechnology (Sony Corporation), Thermo Fisher Scientific, and Wat…" |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product | $32.6M | 67.6% | +3.6% |
| Service | $15.6M | 32.4% | +9.8% |
| Total revenue | $48.1M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $28.2M | 58.6% | +18.1% |
| EMEA | $11.3M | 23.5% | -8.2% |
| APAC | $7.9M | 16.4% | +0.6% |
| China | $4.8M | 10.0% | — |
| Other | $701,000 | 1.5% | -54.2% |
| Total revenue | $48.1M | 100% | — |
The lines above cover 110% of total revenue.

## Company outlook (8-K filed 2026-08-05)

- "Cytek Biosciences is updating its revenue outlook for the full year 2026 to be in the range of $207 million to $212 million, raising the midpoint by $1 million, assuming no change in current foreign currency exchange rates."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.07 | $-0.06 | −$0.01 | $52.9M | 2 |
| Next quarter (ends 2026-12-31) | $-0.02 | $-0.03 | +$0.01 | $63.6M | 2 |
| Current fiscal year (ends 2026-12-31) | $-0.34 | $-0.35 | +$0.01 | $209.2M | 3 |
| Next fiscal year (ends 2027-12-31) | $-0.25 | $-0.27 | +$0.01 | $222.8M | 3 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.03 | −$0.02 | Miss −$0.01 | — |
| — | Quarter ended Mar 31, 2026 | −$0.10 | −$0.08 | Miss −25.0% | — |
| — | Quarter ended Dec 31, 2025 | −$0.29 | $0.02 | Miss −$0.31 | — |
| — | Quarter ended Sep 30, 2025 | $0.00 | $0.01 | Miss −$0.01 | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-09-29 | 8-K | Bylaws or fiscal-year change | https://www.sec.gov/Archives/edgar/data/1831915/000119312526407330/0001193125-26-407330-index.htm |
| 2026-08-24 | 8-K | Regulation FD disclosure; Other material event — “On August 21, 2026, the Company announced that a jury in the United States District Court for the District of Delaware returned a verdict in the patent infringement action brought by Beckman Coulter, Inc. The jury found in the Company's favor on three of the four asserted patent claims, finding noninfringement and invalidity as to each of those three claims. With respect to one claim, the jury found no literal infringement but found infringement under the doctrine of equivalents. The jury awarded past damages…” | https://www.sec.gov/Archives/edgar/data/1831915/000119312526361705/0001193125-26-361705-index.htm |
| 2026-08-06 | Schedule 13G/A | Integrated Core Strategies (US) LLC, Millennium Management LLC: 7.2% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1831915/000110465926092212/0001104659-26-092212-index.htm |
| 2026-08-05 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1831915/000162828026053496/0001628280-26-053496-index.htm |
| 2026-08-05 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1831915/000119312526335212/0001193125-26-335212-index.htm |
| 2026-08-04 | Schedule 13G | Boston Partners: 5.9% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1831915/000138606026000050/0001386060-26-000050-index.htm |
| 2026-07-15 | 8-K | Director or executive officer change, or pay arrangement — “(e) As previously disclosed, Valerie Barnett's position as Chief Legal Officer and Corporate Secretary of Cytek Biosciences, Inc. (the "Company") terminated on June 29, 2026. On July 9, 2026 (the "Separation Date"), the Company and Ms. Barnett entered into a severance agreement and release of all claims (the "Severance Agreement") pursuant to which Ms. Barnett provided the Company with a release and waiver of claims. In accordance with the Severance Agreement, the Company agreed to pay Ms. Barnett: (i) a one-time…” | https://www.sec.gov/Archives/edgar/data/1831915/000119312526304789/0001193125-26-304789-index.htm |
| 2026-07-08 | Schedule 13G/A | BlackRock, Inc.: 7.2% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1831915/000201238326001934/0002012383-26-001934-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.