Business
Cytek Biosciences Reports Fourth Quarter and Full Year 2022 Financial Results
Full year 2022 revenue increased 28%, or 34% on constant currency basis, compared to prior year Provides full year 2023 revenue guidance of $225 million to
About this update from Cytek Biosciences, Inc.
[{"type":"text","content":"Full year 2022 revenue increased 28%, or 34% on constant currency basis, compared to prior year Provides full year 2023 revenue guidance of $225 million to $235 million, or growth of 37% to 43% over full year 2022 FREMONT, Calif., Feb. 28, 2023 (GLOBE NEWSWIRE) -- Cytek® Biosciences, Inc. (“Cytek Biosciences” or “Cytek”) (Nasdaq: CTKB) today reported financial results for the fourth quarter and year ended December 31, 2022. Recent Highlights Total revenue was $48.3 million, or $51.2 million on a constant currency basis, for the fourth quarter of 2022, representing 24% and 32% increases, respectively, over the corresponding period of 2021Total revenue was $164.0 million, or $171.8 million on a constant currency basis, for the full year 2022, representing 28% and 34% increases, respectively, over the full year 2021Net income was $3.7 million for the fourth quarter of 2022 and $2.5 million for the full year 2022, with adjusted EBITDA of $6.6 million for the fourth quarter of 2022 and $21.2 million for the full year 2022Expanded installed base to 1,670 instruments, with 169 instrument placements during the fourth quarter of 2022 and 560 placements during the full year 2022Acquired Flow Cytometry and Imaging Business from Luminex CorporationEntered strategic partnership with Bio-Rad Laboratories to expand reagent capabilities, in line with Cytek’s strategy to further build out applications-driven reagents business “I am pleased with Cytek’s strong revenue growth and continued execution throughout 2022,” said Dr. Wenbin Jiang, CEO of Cytek Biosciences. “In addition to reporting strong financial results, we strengthened our organization with the addition of several executives to our team, and expanded our global presence. Today, we expanded our enterprise with the completed acquisition of Luminex’s Flow Cytometry and Imaging business and are excited to welcome this team to Cytek. Looking ahead to 2023, I am encouraged by our company’s position and confident in our continued success this year and beyond.” Fourth Quarter 2022 Financial Results Total revenue for the fourth quarter of 2022 was $48.3 million, a 24% increase over the fourth quarter of 2021, with continued demand across the full portfolio of Cytek’s offerings. On a constant currency basis, total revenue for the fourth quarter of 2022 was $51.2 million, a 32% increase over the...