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Jun 30, 2023
Cytek Biosciences Q2 2023 Earnings Report
Reported a revenue increase of 24% year-over-year, driven by organic growth and contributions from the Luminex acquisition, with ongoing integration efforts and expansion of global presence.
Key Takeaways
Cytek Biosciences reported a 24% increase in revenue to $49.7 million for Q2 2023, including $8.2 million from the Luminex acquisition. The company is focused on integrating the Luminex business and expanding its global presence. Net loss was $4.4 million, and adjusted EBITDA was $1.5 million.
Total revenue was $49.7 million, representing 24% growth over the second quarter of 2022
Total revenue on a non-GAAP constant currency basis was $50.0 million
Organic revenue for Cytek’s existing product portfolio was $41.5 million in the second quarter of 2023, representing an increase of 3% compared to the second quarter of 2022.
Shipped the 100th Cytek Aurora Cell Sorter system
Revenue by Segment
Forward Guidance
Cytek Biosciences continues to expect full year 2023 total revenue to be in the range of $205 million to $220 million, representing growth of 25% to 34% over full year 2022. This includes an expected revenue contribution in the range of $180 million to $190 million from our existing organic business and in the range of $25 million to $30 million from the acquired Luminex flow cytometry and imaging business, which closed on February 28, 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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