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Sep 30, 2023
Cytek Biosciences Q3 2023 Earnings Report
Reported financial results for the third quarter ended September 30, 2023
Key Takeaways
Cytek Biosciences reported a 19% increase in total revenue, reaching $48.0 million for the third quarter of 2023. This includes $6.8 million from product lines acquired from Luminex. However, the company experienced a net loss of $6.5 million compared to a net income of $1.6 million in the same period last year.
Total revenue was $48.0 million, representing 19% growth over the third quarter of 2022
Organic revenue was $41.2 million, representing an increase of 2% compared to the third quarter of 2022. Third quarter revenue from the product lines acquired from Luminex Corporation on February 28, 2023, was $6.8 million
Achieved ISO 13485 Quality Management System certification at headquarters in Fremont, California
Repurchased 1,155,229 shares of common stock during the third quarter at an aggregate cost of $8.4 million
Revenue by Segment
Forward Guidance
Cytek Biosciences expects full year 2023 total revenue to be in the range of $188 million to $192 million, representing growth of 15% to 17% over full year 2022.
Positive Outlook
- Full year 2023 total revenue expected to be in the range of $188 million to $192 million
- Represents growth of 15% to 17% over full year 2022
- Includes an expected revenue contribution from our organic business
- Includes revenue from the Luminex flow cytometry and imaging business, which was acquired on February 28, 2023
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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