Cytek Biosciences Reports Fourth Quarter and Full Year 2025 Financial Results and Provides 2026 Outlook

Cytek Biosciences Reports Fourth Quarter and Full Year 2025 Financial Results

and Provides 2026 Outlook

Calif., February 26, 2026 (GLOBE NEWSWIRE) - Cytek Biosciences, Inc. ("Cytek Biosciences" or "Cytek") (Nasdaq: CTKB), a leading

cell analysis solutions company, today reported financial results for the fourth quarter and year ended December 31, 2025.

Full Year 2025 Highlights

"We were pleased by our fourth quarter revenue growth, which marked a

clear acceleration versus the prior year and a continuation of the positive trends we saw earlier in 2025. Our revenue performance in the quarter was driven by strong momentum in FSP instrument sales in all major markets worldwide alongside

sustained growth in our recurring revenue streams. We were especially encouraged to see improving instrument demand in both the US and EMEA," said Dr. Wenbin Jiang, CEO of Cytek Biosciences. "This broad-based execution positions us

well for 2026, where our priorities will continue to focus on the growth of our high-margin recurring revenue lines, accelerating the adoption of our instrument platforms, advancing a pipeline of innovative new products, and delivering profitable,

durable growth in the large cell analysis market."

Fourth Quarter 2025 Financial Results

Total revenue for the fourth quarter of 2025 was $62.1 million, an 8% increase compared to the fourth quarter of 2024. The increase in revenue was due to

higher revenue broadly across all major regions.

GAAP gross profit was $32.9 million for the fourth quarter of 2025, a 2% decrease compared to the

fourth quarter of 2024. GAAP gross profit margin was 53% in the fourth quarter of 2025 compared to 59% in the fourth quarter of 2024. Adjusted gross profit margin, after adjusting for stock-based compensation expense and amortization of

acquisition-related intangibles, was 55% in the fourth quarter of 2025, compared to 61% in the fourth quarter of 2024.

Operating expenses were

$38.5 million for the fourth quarter of 2025, an increase of $7.8 million or 25.5% compared to the fourth quarter of 2024 due to increased general and administrative and sales and marketing expenses, and a

non-recurring benefit of $2.6 million in the prior year quarter, offset by a reduction in research and development expenses.

Research and development expenses were $9.0 million for the fourth quarter of 2025, a 7.8% decrease compared to the fourth quarter of 2024.

Sales and marketing expenses were $13.1 million for the fourth quarter of 2025, a 10.6% increase compared to the fourth quarter of 2024.

General and administrative expenses were $16.4 million for the fourth quarter of 2025, increasing $7.3 million compared to the fourth quarter of

2024 due primarily to increased headcount, sales commission, and litigation-related expenses, and a non-recurring benefit of $2.6 million in the prior-year quarter related to a change in estimate of an

adjustment to a license and royalty settlement liability.

Loss from operations in the fourth quarter of 2025 was $5.6 million compared to income

from operations of $3.0 million in the fourth quarter of 2024. Net loss in the fourth quarter of 2025 was $44.1 million, compared to a net income of $9.6 million in the fourth quarter of 2024. The net loss in the fourth quarter of

2025 is primarily due to the recording of a non-cash valuation allowance against deferred tax assets of $38.1 million due to the uncertainty of realizing the associated future tax benefits, and the

$5.6 million loss from operations.

Adjusted EBITDA in the fourth quarter of 2025, after adjusting for stock-based compensation expense and foreign

currency exchange impacts, declined to $4.5 million compared to $12.5 million in the fourth quarter of 2024, primarily due to the $7.8 million increase in operating expenses. Excluding investment income, Adjusted EBITDA for the fourth

quarter was $2.7 million, compared to $10.2 million in the fourth quarter of 2024.

Cash and marketable securities totaled $261.5 million

as of December 31, 2025, compared to $261.7 million as of September 30, 2025, a decrease of $0.2 million.

Full Year 2025 Financial

Total revenue for the year ended December 31, 2025 was $201.5 million, a 1% increase compared to the year ended December 31,

2024. The increase in revenue was due to higher revenue in APAC and the US, partially offset by softness in EMEA, and rest-of-world. On a

non-GAAP constant currency basis, full year 2025 revenue was $198.2 million, a decline of 1.1% compared to full year 2024 as reported.

GAAP gross profit was $104.5 million for the year ended December 31, 2025, a 6% decrease compared

to the year ended December 31, 2024. GAAP gross profit margin was 52% for the year ended December 31, 2025 compared to 55% in the year ended December 31, 2024. Adjusted gross profit margin, after adjusting for stock-based compensation

expense and amortization of acquisition-related intangibles, was 55% for the year ended December 31, 2025 compared to 59% in the year ended December 31, 2024.

Operating expenses were $144.8 million for the year ended December 31, 2025, a 10% increase compared to the year ended December 31, 2024,

primarily due to higher general and administrative expense, partially offset by lower research and development expense.

Research and development expenses

were $36.5 million for the year ended December 31, 2025, a 7.4% decrease compared to the year ended December 31, 2024.

expenses were $49.4 million for the year ended December 31, 2025, a 0.7% increase compared to the year ended December 31, 2024.

administrative expenses were $58.9 million for the year ended December 31, 2025, increasing 36.7% compared to the year ended December 31, 2024, due primarily to higher patent litigation expenses, higher compensation, sales and use

tax, and software expenses and a lower benefit related to the change in estimate of an adjustment to a license and royalty settlement liability.

from operations for the year ended December 31, 2025 was $40.4 million compared to loss from operations of $20.5 million for the year ended December 31, 2024. Net loss for the year ended December 31, 2025 was

$66.5 million compared to a net loss of $6.0 million for the year ended December 31, 2024. The increase in net loss in full year 2025 is primarily driven by a $6.6 million decline in gross profit; a $5.7 million reduction in

interest expense, primarily due to a non-recurring benefit in the prior year related to the change in estimate of an adjustment to a license and royalty settlement liability; a $36.4 million increase in

tax expense primarily due to the recording of a non-cash valuation allowance against deferred tax assets of $33.1 million; and a $13.2 million increase in operating expenses.

Adjusted EBITDA for the year ended December 31, 2025, after adjusting for stock-based compensation expense and foreign currency impacts was

$5.0 million, compared to $22.4 million for the year ended December 31, 2024, primarily due to $6.6 million lower gross profit and $13.2 million higher operating expenses. Excluding investment income, Adjusted EBITDA for the

year ended December 31, 2025 was $(3.1) million, compared to $14.4 million for the year ended December 31, 2024.

securities totaled $261.5 million as of December 31, 2025 compared to $277.9 million as of December 31, 2024, a decrease of $16.4 million. The reduction in cash and marketable securities was primarily due to the

Company's repurchase of approximately 3.3 million shares for $15.1 million during 2025.

2026 Revenue Outlook

Cytek Biosciences initiates its 2026 revenue guidance for full year 2026 revenue to be in the range of $205 million to $212 million, representing

growth of 2% to 5% over full year 2025, assuming no change in current foreign currency exchange rates or 2025 US tariff policy.

Cytek will host a conference call to discuss its fourth quarter and year end 2025 financial results on Thursday, February 26, 2026, at 1:30 p.m. Pacific

Time / 4:30 p.m. Eastern Time. A webcast of the conference call can be accessed at investors.cytekbio.com.

About Cytek Biosciences, Inc.

Cytek Biosciences (Nasdaq: CTKB) is a leading cell analysis solutions company advancing the next generation of cell analysis tools by delivering

high-resolution, high-content and high-sensitivity cell analysis utilizing its patented Full Spectrum Profiling (FSP ) technology.

Cytek's novel approach harnesses the power of information within the entire spectrum of a fluorescent signal to achieve a higher level of multiplexing with precision and sensitivity. Cytek's platform includes: its core FSP instruments,

the Cytek Aurora , Northern Lights , Cytek Aurora CS and Cytek Aurora Evo systems; the Muse Micro system; the Cytek Orion reagent cocktail

preparation system; the Enhanced Small Particle (ESP ) detection technology; the flow cytometers and imaging products under the

Amnis and Guava brands; and reagents, software and services to provide a comprehensive and integrated suite of solutions

for its customers. Cytek is headquartered in Fremont, California with offices and distribution channels across the globe. More information about the company and its products is available at www.cytekbio.com.

Cytek's products are for research use only and not for use in diagnostic procedures (other than Cytek's Northern

Lights-CLC system and certain reagents, which are available for clinical use only in China and the European Union).

Cytek, Full Spectrum Profiling, FSP, Cytek Aurora, Northern Lights, Enhanced Small Particle, ESP, Muse, Cytek Orion, Amnis and Guava are trademarks of Cytek

In addition to filings with the Securities and Exchange Commission (SEC), press releases, public conference calls and webcasts, Cytek

uses its website (www.cytekbio.com), LinkedIn page and X account as channels of distribution of information about its company, products, planned financial and other announcements, attendance at upcoming investor and industry

conferences and other matters. Such information may be deemed material information and Cytek may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Cytek's website, LinkedIn

page, and X account in addition to following its SEC filings, news releases, public conference calls and webcasts.

Statement Regarding Use of Non-GAAP Financial Information

Cytek has presented certain financial information in accordance with generally accepted accounting principles in the United States ("U.S.

GAAP") and also on a non-GAAP basis for the three-month period and full year ended December 31, 2025 and December 31, 2024. Management believes that

non-GAAP financial measures, including "Adjusted gross profit," "Adjusted gross profit margin," "Adjusted EBITDA," "Adjusted EBITDA excluding investment income,"

and revenue on a "constant currency basis," referenced in this release, taken in conjunction with GAAP financial measures, provide useful information for both management and investors by excluding certain

non-cash and other expenses that are not indicative of the company's core operating results. Management uses non-GAAP measures to compare the company's

performance relative to forecasts and strategic plans and to benchmark the company's performance externally against competitors. Non-GAAP information is not prepared under a comprehensive set of

accounting rules and should only be used to supplement an understanding of the company's operating results as reported under U.S. GAAP. Cytek encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between GAAP and non-GAAP operating results are

presented in the accompanying tables of this release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in

Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the "safe harbor" created by those sections. All statements other than statements

of historical facts are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "might," "will," "should,"

"would," "expect," "plan," "anticipate," "could," "intend," "target," "project," "believe," "contemplate,"

"estimate," "intend," "potential," "predict," or "continue" or the negatives of these terms or variation of them or similar terminology, but the absence of these words does not mean that a

statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding Cytek's growth strategy, including Cytek's ability to expand its global installed base, grow its recurring revenue

streams, accelerate adoption of its instrument platforms, advance a pipeline of innovative new products, and deliver profitable, durable growth; and Cytek's future financial performance, including its outlook for fiscal year 2026 and

expectations for 2026 total revenue. These statements are based on management's current expectations, forecasts, beliefs, assumptions and information currently available to management. These statements also deal with future events and involve

known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. In addition, new risks and

uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements. Factors that could cause actual results to differ materially include global

geopolitical, economic and market conditions; Cytek's ability to manage the impacts of recent and future export controls and licensing requirements, tariffs and NIH funding policies on its business; Cytek's ability to evaluate its

prospects for future viability and predict future performance; Cytek's ability to accurately forecast customer demand and adoption of its products; Cytek's ability to recognize the anticipated benefits of collaborations; Cytek's

dependence on certain sole and single source suppliers; competition; market acceptance of Cytek's current and potential products; Cytek's ability to manage the growth and complexity of its organization, maintain relationships with

customers and suppliers and hire and retain key employees; Cytek's ability to manufacture its products in high-quality commercial quantities