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Mar 31, 2023
Cytek Biosciences Q1 2023 Earnings Report
Reported financial results for the first quarter ended March 31, 2023.
Key Takeaways
Cytek Biosciences reported a 6% increase in total revenue, reaching $37.1 million in Q1 2023. The acquisition of Luminex's flow cytometry and imaging business contributed $3.4 million to the total revenue. Net loss was $6.8 million and adjusted EBITDA was $(2.5) million.
Total revenue was $37.1 million, a 6% increase over the first quarter of 2022.
Organic revenue for Cytek’s existing product portfolio was $33.7 million, a decline of 4% compared to the first quarter of 2022
Revenue from the product lines acquired from Luminex Corporation was $3.4 million.
Net loss was $6.8 million and adjusted EBITDA was $(2.5) million for the first quarter of 2023.
Revenue by Segment
Forward Guidance
Cytek Biosciences revised its full year 2023 revenue outlook and now expects total revenue to be in the range of $205 million to $220 million, representing growth of 25% to 34% over full year 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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