Cytek Biosciences, Inc. · NASDAQ:CTKB
Cytek Biosciences — FY2024 Earnings Presentation
14 slides from Cytek Biosciences's earnings presentation, Feb 27, 2025
Slide 1: Q4 and FY 2024 Earnings Presentation
Q4 and FY 2024 Earnings Presentation February 27, 2025
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation and the related conference call and webcast contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding Cytek’s future financial performance, including its outlook
Slide 3: FY 2024 Performance Overview
FY 2024 Performance Overview1 FSP + Imaging Total Cash & FY ’24 Revenue Adj. EBITDA Marketable Securities Instrument placements $200.5M 8.5% $22.4M $277.9M 4% Y/Y Growth Y/Y Growth 77% Y/Y Growth Driven by strong growth Outperforming overall flow Small % revenue growth Returned $21.6 M to in service
Slide 4: Q4 2024 Revenue
Q4 2024 Revenue1 Comments (Y/Y) Q/Q Revenue Y/Y Revenue • Flat y/y due to appreciation of the U.S. Dollar and softer US and EMEA markets2 +12% -1% • 8% growth vs Q4 2023 in service +10% Q/Q +4% Y/Y business worldwide Q/Q $58.2 Q/Q $57.5 $57.5 $51.5 • Strong growth in APAC and Rest of $44.9 $46.6 Wor
Slide 5: Core Instruments Matured into Industry Standard for FSP Technology
Core Instruments Matured into Industry Standard for FSP Technology Northern Lights Analyzer Validated Technology 3,034 2,300+ Units Placed1 Cytek FSP Peer- Cytek Aurora Analyzer reviewed Publications Broad Customer Base Cytek Aurora Cell Sorter ~2,000 70 Customers Countries with FSP Customers 1. Tot
Slide 6: Key Strategic Benefits from Luminex Acquisition
Key Strategic Benefits from Luminex Acquisition Amnis® ImageStream® Amnis FlowSight® Amnis CellStream® Guava® easyCyteTM Guava Muse® Diversifying portfolio with competitive Revenue Growth and and operational advantages Margin Expansion • Enhanced technical capabilities • Imaging Revenue AI-driven an
Slide 7: Executed on Four Business Pillars to drive growth in 2024
Executed on Four Business Pillars to drive growth in 2024 Instruments Bioinformatics Applications Clinical Expanded capabilities of Cytek Aurora, Cytek Northern Lights and Cytek Aurora CS systems with Enhanced Small ParticleTM Detection Option Enhanced Cytek Cloud capabilities with SpectroPanelTM to
Slide 8: Q4 and Full Year 2024 Financial Overview
Q4 and Full Year 2024 Financial Overview in millions Q4 2024 Y/Y FY 2024 Y/Y Total Revenue $57.5 (1)% $200.5 4% Product $45.0 (3)% $153.3 (2)% Service $12.5 8% $47.2 30% Gross Profit $33.7 2% $111.1 2% Gross Margin 59% - 55% - Operating Expenses1 $30.7 0%1 $131.6 (2)%1 Gain (Loss) from Operations1 $
Slide 9: Initiating Full Year 2025 Guidance
Initiating Full Year 2025 Guidance FY 2025 Revenue1 $204 - $212 2-6% y/y growth 1.Assumes no change in currency exchange rates 9
Slide 10: Well-positioned for Growth and Profitability
Well-positioned for Growth and Profitability Technology Platform Leader Advancing cell analysis with next-gen tools and end-to-end solutions enabling broad applications Large and Growing Market Taking share in growth markets with expansion enabled by core instruments underpinned by industry-leading
Slide 11: Appendix
Appendix 11
Slide 12: GAAP to Non-GAAP Reconciliation (GP and EBITDA)
GAAP to Non-GAAP Reconciliation (GP and EBITDA) Decem ber 31, Septem ber 30, June 30, March 31, Decem ber 31, Septem ber 30, June 30, March 31, Decem ber 31, Septem ber 30, June 30, March 31, 2024 2024 2024 2024 2023 2023 2023 2023 2022 2022 2022 2022 (In thousands) GAAP gross profit $33,652 $29,005
Slide 13: GAAP to Non-GAAP Reconciliation (GP and EBITDA)
GAAP to Non-GAAP As Reported to Constant Currency Reconciliation Reconciliation (GP and EBITDA) Three months Three months ended ended December 31, December 31, Revenue 2024 2023 As reported 57,476 58,234 Non-GAAP constant currency 58,590 57,795 FX Impact [$] 1,114 (439) FX Impact [%] 1.9% (0.8)% Twe
Slide 14: Thank You
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