Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Cytek Biosciences (CTKB)
NASDAQ:CTKB
Holding CTKB?
Track your performance easily
Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.11Last Year’s EPS
$0.09Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 05, 2024
|% Change Since: 14.71%
|Next Earnings Date:Feb 26, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a positive sentiment overall, with significant revenue growth driven by strong international performance and positive adjusted EBITDA and net income results. However, challenges were noted in the U.S. market and China, along with increased material costs affecting profit margins.Company Guidance
During the earnings call for the third quarter of 2024, Cytek Biosciences presented a comprehensive overview of its financial performance and strategic direction. The company reported total revenue of $51.5 million, marking a 7% year-over-year increase, driven by strong demand across EMEA and APAC regions. The CEO, Wenbin Jiang, highlighted that the company sold 164 instruments, expanding the installed base to 2,821 units. Service revenue saw a notable 25% growth from the previous year, reflecting increased instrument usage. Cytek also achieved a positive adjusted EBITDA of $7.6 million, a significant improvement from $3.7 million in the same quarter last year. The company maintained a GAAP gross profit margin of 56%, while adjusted gross profit margin reached 60%. Looking forward, Cytek reaffirmed its full-year revenue outlook of $203 million to $210 million, aiming for sustainable growth and profitability.Solid Revenue Growth
Third-quarter total revenue reached $51.5 million, marking a 7% year-over-year increase and a 10% increase from the second quarter.
International Market Performance
Strong growth in EMEA with a 33% increase year-over-year and a 25% increase from Q2. Asia Pacific also saw strong growth, up 32% year-over-year.
Positive Adjusted EBITDA
Adjusted EBITDA increased to $7.6 million in Q3 from $3.7 million in the prior year quarter and $2.9 million in Q2.
Increased Service Revenue
Service revenue grew 25% year-over-year, reflecting the expansion of the installed base and active usage of tools.
Strong Financial Position
Total cash and marketable securities increased to $277.8 million despite a $12.1 million share repurchase.
Positive GAAP Net Income
Reported a GAAP net income of $0.9 million for the third quarter, compared to a net loss of $6.5 million in the prior year.
---
CTKB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
CTKB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $5.44 | $7.40 | +36.03% |
| Aug 06, 2024 | $5.62 | $5.09 | -9.43% |
| May 08, 2024 | $6.27 | $6.20 | -1.12% |
| Feb 28, 2024 | $8.74 | $7.70 | -11.90% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Cytek Biosciences (CTKB) report earnings?
Cytek Biosciences (CTKB) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Cytek Biosciences (CTKB) earnings time?
Cytek Biosciences (CTKB) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CTKB EPS forecast?
CTKB EPS forecast for the fiscal quarter 2024 (Q4) is $0.11.
---