Thu, May 8, 9:29 PM (4 days ago)
**Summary of Cytek Biosciences, Inc. (CTKB) Q1 2025 Financial Performance** **Revenue and Profit Margins:** - **Total Revenue:** $41.5 million, an 8% decrease from Q1 2024 ($44.9 million). - **Product Revenue:** $28.1 million, an 18% decrease from Q1 2024 ($34.1 million). - **Service Revenue:** $13.3 million, a 24% increase from Q1 2024 ($10.7 million). - **Gross Profit:** $20.2 million, a 12.5% decrease from Q1 2024 ($23.0 million). - **Gross Margin:** 49%, down from 51% in Q1 2024. **Operating Expenses:** - **Research and Development (R&D):** $9.7 million, relatively stable from Q1 2024 ($9.8 million). - **Sales and Marketing:** $12.5 million, stable from Q1 2024 ($12.5 million). - **General and Administrative (G&A):** $12.9 million, a 13% increase from Q1 2024 ($11.4 million). **Net Loss:** - **Net Loss:** $11.4 million, an increase from $6.2 million in Q1 2024. - **Net Loss per Share:** $0.09, compared to $0.05 in Q1 2024. **Cash Flow:** - **Operating Cash Flow:** $(125) thousand, a significant decrease from $3.9 million in Q1 2024. - **Investing Cash Flow:** $9.5 million, a positive change from $(5.8) million in Q1 2024. - **Financing Cash Flow:** $(11.5) million, a decrease from $1.6 million in Q1 2024. **Key Financial Metrics:** - **Cash and Cash Equivalents:** $95.3 million, down from $98.7 million in Q1 2024. - **Total Assets:** $482.6 million, down from $499.5 million in Q1 2024. - **Total Liabilities:** $102.9 million, up from $103.8 million in Q1 2024. **Trends and Uncertainties:** - **Revenue Mix:** Product revenue decreased by 18%, while service revenue increased by 24%. - **Gross Margin:** Decreased due to higher cost of sales driven by factors such as lower product revenue and higher overhead costs. - **Operating Expenses:** General and administrative expenses increased by 13%, primarily due to higher compensation-related costs. - **Cash Flow:** Operating cash flow turned negative, primarily due to higher accrued expenses and inventories. - **Future Operations Impact:** The company plans to continue investing in R&D, sales and marketing, and general administrative functions to support growth and innovation. **Conclusion:** Cytek Biosciences, Inc. (CTKB) reported a challenging quarter with a significant decrease in total revenue and net loss. The company faced higher operating expenses and a negative operating cash flow, indicating potential liquidity concerns. However, the company remains focused on innovation and growth, with plans to invest in R&D and expand its market presence. The financial performance highlights the need for strategic adjustments to improve profitability and cash flow management.