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Dec 31, 2022
Cytek Biosciences Q4 2022 Earnings Report
Reported strong financial results for the fourth quarter and year ended December 31, 2022.
Key Takeaways
Cytek Biosciences reported a 24% increase in revenue for the fourth quarter of 2022 compared to the same period in 2021, with net income of $3.7 million. The company expanded its installed base and made strategic acquisitions to strengthen its market position. They anticipate continued success in 2023.
Total revenue was $48.3 million, representing a 24% increase over Q4 2021.
Net income was $3.7 million for the fourth quarter of 2022.
Adjusted EBITDA was $6.6 million for the fourth quarter of 2022.
Expanded installed base to 1,670 instruments, with 169 instrument placements during the fourth quarter of 2022.
Forward Guidance
Cytek Biosciences expects full year 2023 revenue in the range of $225 million to $235 million, representing growth of 37% to 43% over full year 2022.
Positive Outlook
- Full year 2023 revenue expected to be in the range of $225 million to $235 million.
- Revenue growth of 37% to 43% over full year 2022 is expected.
- Includes approximately $20 million of revenue contribution from the acquisition of Luminex’s Flow Cytometry and Imaging Business.
- Acquisition of Flow Cytometry and Imaging Business from Luminex Corporation.
- Entered strategic partnership with Bio-Rad Laboratories to expand reagent capabilities.
Historical Earnings Impact
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