NASDAQ$CTKB
Cytek Biosciences Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported strong fourth quarter performance driven by revenue increase.
Cytek Biosciences reported a strong fourth quarter with a 21% increase in total revenue, reaching $58.6 million. The company's strategic execution and agility contributed to navigating the challenging macroeconomic environment. Net income for the quarter was $6.3 million, compared to $3.7 million in the same period of the prior year.
- Total revenue reached $58.6 million, a 21% increase year-over-year.
- Organic revenue grew to $48.8 million, a 1% increase year-over-year.
- Gross profit was $33.7 million, a 15% increase year-over-year.
- Net income increased to $6.3 million, compared to $3.7 million in the prior year.
Headline financials
Revenue & EPS history
Cytek Biosciences · Revenue · Quarterly
$58.6M
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 anticipates total revenue for the year ending December 31, 2024, to range from $203 million to $213 million, indicating a growth of 5% to 10% compared to the year ending December 31, 2023, with the assumption of stable currency exchange rates. The company also expects to achieve positive net income for the year ending December 31, 2024.
Tailwinds
- Expects total revenue for 2024 to be in the range of $203 million to $213 million.
- Projects revenue growth of 5% to 10% over 2023.
- Assumes no change in currency exchange rates.
- Anticipates reporting positive net income for the year ended December 31, 2024.
- Focuses on effectively driving strategic growth and delivering long-term profitability.
Headwinds
- Guidance assumes no change in currency exchange rates.
- Future performance is subject to global economic and market conditions.
- Company's ability to accurately forecast customer demand and adoption of its products.
- Dependence on certain sole and single source suppliers.
- Competition and market acceptance of Cytek’s current and potential products.
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 Q4 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 | — | — | — |
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