On August 8 2023, CYTEK BIOSCIENCES ($NASDAQ:CTKB) reported their financial results for the period ending June 30 2023. Total revenue for the second quarter of FY2023 was USD 49.7 million, a 23.7% increase from the corresponding period of the previous year. Net income for the period was USD -4.4 million, compared to a net loss of USD 0.6 million in the same quarter of FY 2022.
CYTEK BIOSCIENCES released its second quarter earnings report on Tuesday, August 8th. The company’s stock opened at $9.1 and closed at $8.9, representing a decrease of 2.7% from the previous day’s closing price of $9.2. This decrease came despite the company meeting or exceeding its quarterly expectations. CYTEK BIOSCIENCES reported strong revenue growth in the second quarter, as well as increased profitability compared to the same period the previous year.
Additionally, the company made progress on key initiatives such as expanding their product portfolio and advancing their research and development initiatives. Overall, shareholders of CYTEK BIOSCIENCES were disappointed by Tuesday’s closing price as it fell below expectations, however, investors remain hopeful for the future of the company. With its strong revenue growth and increased profitability, CYTEK BIOSCIENCES looks to continue to be successful in the coming quarters. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Cytek Biosciences. More…
Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cytek Biosciences. More…
Cash Flow Statement (Yearly/ Quarterly/ LTM)
Cash Flow Supplement
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cytek Biosciences. More…
Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for Cytek Biosciences are shown below. More…
Income Statement Ratios
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GoodWhale recently conducted an analysis of CYTEK BIOSCIENCES‘s wellbeing, using our Star Chart methodology. The result was our Cheetah classification, which typically indicates that companies have achieved high revenue or earnings growth but are considered less stable due to lower profitability. Investors interested in such companies must be aware of the risks associated with this higher growth potential, as well as the potential rewards. Our analysis of CYTEK BIOSCIENCES showed strong asset growth, medium profitability and weak dividend yields, but a high health score of 8/10 with regard to its cashflows and debt, suggesting that it has the capability to pay off debt and fund future operations. More…
Risk Rating Analysis
Star Chart Analysis
Its competitors are Pressure BioSciences Inc, Delcath Systems Inc, Longport Inc.
– Pressure BioSciences Inc ($OTCPK:PBIO)
Pressure BioSciences Inc is a biotechnology company that develops, manufactures, and markets systems and consumables for sample preparation and analytical techniques used in the life sciences industry. The company’s products are based on the pressure cycling technology, which is a method of applying alternating cycles of hydrostatic pressure between ambient and ultra-high levels to biological samples in order to open or lyse cells and archives, release their contents for further analysis.
Delcath Systems Inc. is a commercial-stage pharmaceutical company focused on the treatment of primary and metastatic liver cancers. The Company’s product, Melphalan Hydrochloride for Injection for use with the Delcath Hepatic Delivery System (Melphalan/HDS), is an investigational drug delivery system that is designed to administer very high-dose melphalan, a chemotherapeutic agent, to the liver while minimizing exposure of other normal tissues.
CYTEK BIOSCIENCES recently reported their earnings results for the second quarter of FY2023, ending on June 30 2023. They achieved total revenue of USD 49.7 million, a 23.7% increase from the year prior.
Additionally, their net income was reported as USD -4.4 million, compared to the previous year’s amount of -0.6 million. This strong financial performance is generally a positive sign for investors in CYTEK BIOSCIENCES, hinting at an upward trend in revenue and profitability in the near future. Investors should continue to monitor the company’s future financial results to ensure that their investments remain profitable.