NASDAQ$CTKB
Cytek Biosciences Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported financial results for the third quarter ended September 30, 2023
Cytek Biosciences reported a 19% increase in total revenue, reaching $48.0 million for the third quarter of 2023. This includes $6.8 million from product lines acquired from Luminex. However, the company experienced a net loss of $6.5 million compared to a net income of $1.6 million in the same period last year.
- Total revenue was $48.0 million, representing 19% growth over the third quarter of 2022
- Organic revenue was $41.2 million, representing an increase of 2% compared to the third quarter of 2022. Third quarter revenue from the product lines acquired from Luminex Corporation on February 28, 2023, was $6.8 million
- Achieved ISO 13485 Quality Management System certification at headquarters in Fremont, California
- Repurchased 1,155,229 shares of common stock during the third quarter at an aggregate cost of $8.4 million
Headline financials
Revenue & EPS history
Cytek Biosciences · Revenue · Quarterly
$48M
Revenue by segment
Cytek Biosciences · $48M total across 2 segments · Q3 2023
- Product Revenue$38.4M+5.6%80.1%
- Service Revenue$9.56M+133.8%19.9%
Forward guidance
Cytek Biosciences expects full year 2023 total revenue to be in the range of $188 million to $192 million, representing growth of 15% to 17% over full year 2022.
Tailwinds
- Full year 2023 total revenue expected to be in the range of $188 million to $192 million
- Represents growth of 15% to 17% over full year 2022
- Includes an expected revenue contribution from our organic business
- Includes revenue from the Luminex flow cytometry and imaging business, which was acquired on February 28, 2023
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-0.9%
Avg return
Earnings day
+0.6%
Avg return
5 days after
-4.5%
Avg return
30 days after
36%
8 / 22 earnings
Positive
+42.3%
Q3 2024
Best reaction
-23.6%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.6% | -18.4% | -17.2% | |
| Q4 2025 | +1.6% | +0.2% | -1.8% | |
| Q3 2025 | +2.6% | +21.5% | +27.6% | |
| Q1 2025 | -22.8% | -28.0% | -9.2% | |
| Q4 2024 | -6.7% | -7.1% | -16.8% | |
| Q3 2024 | +42.3% | +35.6% | +25.8% | |
| Q2 2024 | -12.7% | -10.5% | -6.7% | |
| Q1 2024 | -2.8% | -3.1% | -6.0% | |
| Q4 2023 | -13.0% | -8.2% | -12.9% | |
| Q3 2023 | +14.7% | +12.4% | +75.7% | |
| Q2 2023 | -2.0% | +2.4% | -25.1% | |
| Q1 2023 | -23.6% | -35.4% | -30.9% | |
| Q4 2022 | -10.0% | +0.7% | -15.5% | |
| Q3 2022 | -0.6% | +0.6% | -22.3% | |
| Q2 2022 | +1.0% | +1.9% | -4.0% | |
| Q1 2022 | +1.1% | +23.1% | +25.6% | |
| Q4 2021 | -1.9% | +1.3% | -26.5% | |
| Q3 2020 | +1.8% | -0.2% | -17.9% | |
| Q3 2021 | -0.9% | -4.4% | -19.0% | |
| Q2 2020 | -1.8% | +6.8% | -12.3% | |
| Q4 2020 | -1.8% | +6.8% | -12.3% | |
| Q2 2021 | +16.2% | +14.9% | +2.5% | |
| Q1 2021 | — | — | — | |
| Q1 2020 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro