Cytek (CTKB) Q1 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool Fri, May 8, 2026 at 9:32 PM GMT+7 18 min read CTKB Image source: The Motley Fool. Chief Financial Officer — William McCombe Head of Investor Relations — Paul Goodson Paul Goodson: Thank you, operator. Earlier today, Cytek Biosciences released financial results for the first quarter ended March 31, 2026. If you haven t received this news release, or if you d like to be added to the company s distribution list, please send an e-mail to investors@cytekbio.com. A copy of the news release is also available on the Investor Relations section of Cytek s website at investors.cytekbio.com. Please note that, we will be referencing a slide presentation during the call today that has been posted to the Investors section of our corporate website. Joining me today from Cytek are Wenbin Jiang, CEO; and Bill McCombe, CFO. As a reminder, on Slide 2, we will make statements during this call that are forward-looking statements within the meaning of the federal securities laws, including statements regarding Cytek s business plans, strategies, opportunities and financial projections. These statements are based on the company s current expectations and inherently involve significant risks and uncertainties that could cause actual results or events to materially differ from those anticipated in these statements. Additional information regarding these risks and uncertainties appears in our slide presentation in the section entitled Forward-Looking Statements in the press release Cytek issued today and in Cytek s filings with the SEC. This call will also include a discussion of certain financial measures that are not calculated in accordance with generally accepted accounting principles. Additional information regarding our use of non-GAAP financial measures, including reconciliations to the most directly comparable GAAP financial measures may be found in our slide presentation and in today s press release. While the company believes these non-GAAP financial measures provide useful information for investors, the presentation of this information is not intended to be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Except as required by law, Cytek disclaims any duty to update any forward-looking statements, whether because of new information, future events or changes in its expectations. This conference call contains time-sensitive information and is accurate only as of the live broadcast, May 7, 2026. With that, I will turn the call over to Wenbin. Wenbin Jiang: Thanks, Paul. Welcome, everyone, and thank you for your interest in Cytek. On today s call, I would like to start with a discussion on our performance in the first quarter of 2026 before turning the call over to Bill for a detailed look at our financials and our guidance outlook for the full year. Turning to Slide 3. First quarter 2026 revenue was $44.1 million, representing 6% growth year-over-year compared to $41.5 million in Q1 2025. This reflects continued positive momentum from the second half of 2025 and marks a constructive start to the year and what appears to be a return to normal market conditions in the U.S., continued secular growth in APAC, excluding China, recurring revenue growth globally and the diversity of our portfolio. Importantly, we believe our revenue growth in the first quarter was particularly notable against the continued broad market challenges in the life science tools industry. This performance further demonstrates Cytek s technology leadership and is also evidenced by the strong customer demand for the Cytek Aurora Evo analyzer, since its launch last year. Further, our growing installed base continues to fuel expansion in our service and reagent businesses as represented by the continued growth we are seeing with recurring revenue as a percentage of total revenue. Turning to Slide 4. Looking at total revenue geographically, in the U.S., first quarter revenue was $24.4 million, an increase of 32% compared to $18.5 million in Q1 of last year. Our strength in the U.S. was broad-based and included sales to leading academic institutions and biopharma companies. These organizations continue to be repeat buyers, with a high percentage of them having purchased at least 1 instrument from us in the prior 4 quarters. I m pleased to report that, our Aurora flagship products continue to gain traction with these buyers, which suggests how well Cytek s products have been addressing the needs of our user base. In EMEA, first quarter revenue was $10.8 million, a decrease of 7% versus Q1 2025. Instrument revenue in the region was softer in the quarter, due to disruption caused by the conflict in the Middle East and an end of quarter shipment delay in another region. These pressures were partially offset by continued growth in our service business. APAC, including China declined 13% year-over-year, primarily due to accelerated order timing in the first quart

Cytek (CTKB) Q1 2026 Earnings Call Transcript

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Cytek (CTKB) Q1 2026 Earnings Call Transcript

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