M&A - Cytek Biosciences, Inc.

Form Type: 10-Q

Filing Date: 2025-05-08

Corporate Action: Acquisition

Type: Update

Accession Number: 000162828025023927

Filing Summary: Cytek Biosciences, Inc. reported its financial results for the first quarter ending March 31, 2025. The company reflected a decrease in total revenue from $44,860,000 in Q1 2024 to $41,457,000 in Q1 2025. The revenue was generated from product sales amounting to $28,110,000 and service revenue of $13,347,000. Cost of sales also decreased slightly but resulted in a gross profit of $20,157,000. Operating expenses rose to $35,132,000, leading to a loss from operations of $14,975,000, compared to a loss of $10,734,000 in the previous year. The net loss for the quarter was reported at $11,402,000, translating to a net loss per share of $0.09. Additionally, the company discussed its asset acquisition of certain assets from Luminex Corporation related to flow cytometry and imaging business in February 2023. This acquisition is significant as it aims to enhance the company’s product offerings in cell analysis solutions. The total assets as of March 31, 2025, were reported at $482,596,000 with total liabilities of $102,973,000, showing the company’s solid financial footing despite operational challenges.