Cytek Biosciences reported fourth‑quarter 2025 revenue of $62.1 million, up 8% from $57.6 million in the same period last year, marking the company’s highest quarterly top line to date. The growth was driven by strong demand for its Flow Cytometry and Spectral Flow (FSP) instruments, which saw a 21% increase in unit sales, and a 21% rise in recurring revenue from reagents and services. The revenue beat was largely a result of the new Cytek Aurora™ Evo system, which contributed to a 21% unit growth in the Aurora category and helped offset headwinds in legacy product lines.
GAAP gross profit fell 2% year‑over‑year to $32.9 million, resulting in a gross margin of 53% versus 59% in 2024. The margin compression was driven by higher service costs—largely due to increased headcount and travel expenses—and higher product costs, including material price increases and tariff impacts. Adjusted gross margin, which excludes stock‑based compensation and amortization of acquisition intangibles, declined to 55% from 61% in 2024.
Operating expenses rose 25.5% to $38.5 million, a jump that was largely attributable to higher general and administrative costs and a $2.6 million one‑time benefit recorded in the prior year. The increase also reflected legal expenses related to a patent litigation case, which added to the G&A burden.
The company posted a net loss of $0.34 per share, missing the consensus estimate of a $0.02 loss. The loss was driven by the combination of margin compression, higher operating expenses, and the one‑time benefit from the previous year. A non‑GAAP loss per share of $0.01 was also reported, which was narrower than the estimated loss of $0.0408 but still a miss.
Full‑year 2025 revenue totaled $201.5 million, a 1% increase from $200.5 million in 2024. Cytek reaffirmed its 2026 revenue guidance at $205 million to $212 million, a 2% to 5% growth over 2025, and reiterated its focus on expanding high‑margin recurring revenue and accelerating instrument adoption.
Management highlighted the strong performance of the Aurora Evo system, noting that it drove 21% unit growth in the Aurora category in Q4 2025 versus Q4 2024. CEO Dr. Wenbin Jiang emphasized that the company’s “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.”
Analysts noted that while the revenue beat was encouraging, the EPS miss underscored ongoing profitability challenges. The market reaction reflected a focus on the top‑line strength and forward guidance, tempered by concerns over margin compression and the company’s ability to control costs in the face of rising material and service expenses.
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