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Sep 30, 2022
Cytek Biosciences Q3 2022 Earnings Report
Third quarter revenue grew compared to prior year, gross margins, net income, and adjusted EBITDA improved.
Key Takeaways
Cytek Biosciences reported an 18% increase in total revenue for the third quarter of 2022, reaching $40.5 million. Gross profit margins, net income, and adjusted EBITDA also improved compared to the prior year quarter. The company expanded its installed base to 1,501 instruments, with 142 instrument placements during the quarter.
Total revenue was $40.5 million for the third quarter, an 18% increase year-over-year.
Gross profit margin was 66.4%, and adjusted gross profit margin was 68.4% for the third quarter, up from the prior year.
Net income was $1.6 million for the third quarter, with adjusted EBITDA of $7.3 million.
Installed base expanded to 1,501 instruments, with 142 instrument placements during the third quarter.
Revenue by Segment
Forward Guidance
Cytek Biosciences continues to expect full year 2022 revenue to be closer to the high end of the range of $160 million to $168 million.
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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