Cytek Biosciences, Inc. · NASDAQ:CTKB
Cytek Biosciences — Q1 2025 Earnings Presentation
24 slides from Cytek Biosciences's earnings presentation, May 8, 2025
Slide 1: Investor Presentation
Investor Presentation March 3, 2025
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains 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 and expected revenue for the year ended De
Slide 3: Empowering the scientific and medical communities
Empowering the scientific and medical communities with leading cell 2024 Biotech analysis tools Breakthrough Award: Overall Biotech Company of the Year 3
Slide 4: Cytek 2024 at a Glance
Productive R&D and BusDev Engine Cytek 2024 at a Glance (1) ESP 2024 Detection Option Cytek Orion 2023 Mixer Validated Broad Customer Base Strong Technology Platform and Global Presence Financial Profile Amnis® & 2023 Guava® Products (2) 3,034 (2) ~2,000 $278M StarBright Reagents (4) 2023 Units Plac
Slide 5: FY 2024 Performance Highlights
FY 2024 Performance Highlights1 FY ’24 Revenue Adj. EBITDA2 Gross Margin $200.5M $22.4M 59% 4% Y/Y Growth 77% Y/Y Growth Q4 2024 Driven by strong growth Small % revenue growth Improving every in service revenue and may drive larger increases quarter in 2024 double-digit growth in in Adj. EBITDA all
Slide 6: Global Scale and Reach with Diversified Revenue Mix
Global Scale and Reach with Diversified Revenue Mix (1) % Revenue by Industry Seattle Amsterdam Fremont (Headquarters) Wuxi Bethesda Tokyo San Diego Shanghai 40% 60% Academic and Government-Owned Institutions Pharma and Biotech, Distributors and CROs APAC & USA 46% EMEA2 31% 23% ROW3 1. Metrics as o
Slide 7: Large and Growing Cell Analysis Market
Large and Growing Cell Analysis Market1 $1.0B Single Cell Analysis Long-Term Growth Drivers $3.0B $7.5B Cell ID Research Pharma / Biotech Clinical Technology $1.6B Initial TAM Cell Counting (Cell Analysis Market & QC in 2025 Addressable by Flow Cytometry) $1.1B Cell Structure Stem Cell Generative Ca
Slide 8: Our Foundational Four Business Pillars
Instruments Applications Bioinformatics Clinical Our Foundational Four Business Pillars Instruments Applications Bioinformatics Clinical Performance Enabler Storage Regulatory Intelligence Panels/Kits Analysis / AI LDT Ease of Use Flexibility Optimization Menu Driven Compact Functionality Management
Slide 9: Platform offers Standardization and Harmonization across Portfolio
Instruments Applications Bioinformatics Clinical Platform offers Standardization and Harmonization across Portfolio Cytek Northern Cytek Aurora Lights Orion Cell Automatic Sorter sample loader Instruments Reagents Amnis & Athena Guava Services Software 9
Slide 10: Core Instruments: Analyzer to Sorter underpinned by FSP Technology
Instruments Applications Bioinformatics Clinical Core Instruments: Analyzer to Sorter underpinned by FSP Technology Northern Lights Aurora Aurora Cell Sorter Biopharma, Biopharma, >24 Colors Individual 50+ Colors 50+ Colors Sub-Cellular Entry-Level CROs, Large High-End CROs, Large from 1-3 Researche
Slide 11: More Markers Per Tube, makes Tests more Powerful and Cost-effective
Instruments Applications Bioinformatics Clinical More Markers Per Tube, makes Tests more Powerful and Cost-effective Conventional Flow Cytometry Cytek Flow Cytometry Full Spectrum Profiling Technology Clinical Labs Research Labs Clinical & Research Labs 12 Markers per tube 20 Markers per tube • High
Slide 12: Key Strategic Benefits from Luminex Acquisition
Instruments Applications Bioinformatics Clinical 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 tech
Slide 13: Applications: Reagents & Kits drive Utilization and Growth
Instruments Applications Bioinformatics Clinical Applications: Reagents & Kits drive Utilization and Growth Our reagents are fluorochrome conjugated antibodies used to identify cells of interest Our multi-color cFluor immunoprofiling kits and optimized multicolor immunofluorescence panel provide use
Slide 14: FSP Technology Enables Clinical Efficiency, Performance and Lower Costs
Instruments Applications Bioinformatics Clinical FSP Technology Enables Clinical Efficiency, Performance and Lower Costs Benefits of Cytek FSP Technology for Clinical Use Single Tube Increases Sensitivity and Clinical Productivity Eliminates Redundant Reagents and Lowers Costs Identifies Rare Popula
Slide 15: Cytek Cloud capabilities drive utilization
Instruments Applications Bioinformatics Clinical Cloud-Based Operating System for Cytek Cell Analysis Platform Integrated Cloud-Based End-to-End Solution Accelerates Cytek Platform Adoption Functionalities Enhanced Panel Design Capabilities Cytek Cloud >16,000 capabilities drive Experimental Design
Slide 16: Offering Standardization and Harmonization across our Diverse Base
Offering Standardization and Harmonization across our Diverse Base z Research Drug Discovery Clinical Industrial Important where Critical in development Mandatory for data Mandatory for cytometry correlation of biomarker where the binding, consistency for results are used for QC in disease p
Slide 17: Why Customers Choose Cytek
Why Customers Choose Cytek Deeper assessment of patient immune status -- before and after treatment -- for many applications including cancer, COVID, inflammation, drug discovery Fully standardized across experiments and laboratory sites More powerful system at a lower cost with minimal learning cur
Slide 18: Inflection Point: revenue growth drives meaningful operational leverage
Inflection Point: revenue growth drives meaningful operational leverage 0 Focus: Drive top line growth and gross margin improvement Strong discipline in cost management Small revenue growth percentages may drive larger increases in A-EBITDA percentage growth 18
Slide 19: Cytek's Operational and Shareholder Goals
Cytek’s Operational and Shareholder Goals Commitment to Shareholder Value Creation Profitable Growth Cost and Capital Efficiency Execution Speed Operational Excellence Maximize Free Cash Flow Smart Acquisitions 19
Slide 20: Well-Positioned for Sustainable Profitable Growth
Well-Positioned for Sustainable Profitable Growth 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 differentiated technology platform Attractiv
Slide 21: Thank You
e - TRANSCEND THE CONVENTIONAL ‘Thank You
Slide 22: Appendix
“CYTE K* TRANSCEND THE CONVENTIONAL. Appendix
Slide 23: GAAP to Non-GAAP Reconciliation
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 $29,005
Slide 24: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP As Reported to Constant Currency Reconciliation Reconciliation (GP and EBITDA) Three months Three months ended ended December 31, December 31, Revenue 2024 2023 As reported 57,476 58,234 Non-GAAP constant currency 58,590 57,795 FX Impact [$] 1,114 (439) FX Impact [%] 1.9% (0.8)% Twe