--- title: "Cytek Biosciences | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 44.14 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285623379.md" datetime: "2026-05-07T21:24:58.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285623379.md) - [en](https://longbridge.com/en/news/285623379.md) - [zh-HK](https://longbridge.com/zh-HK/news/285623379.md) --- # Cytek Biosciences | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 44.14 M Revenue: As of FY2026 Q1, the actual value is USD 44.14 M, missing the estimate of USD 44.3 M. EPS: As of FY2026 Q1, the actual value is USD -0.15. EBIT: As of FY2026 Q1, the actual value is USD -18.99 M. Cytek Biosciences, Inc. operates as a single reportable segment, with financial information reviewed on an aggregate basis by the chief operating decision maker. #### Revenue Total net revenue for the three months ended March 31, 2026, increased by 6% to $44.1 million from $41.5 million in the same period of 2025. Product revenue increased by 2% to $28.8 million in 2026 from $28.1 million in 2025, primarily due to higher reagent revenue. Service revenue increased by 15% to $15.4 million in 2026 from $13.3 million in 2025, driven by continued growth of the installed base and related increases in service contracts and maintenance activity. #### Revenue by Sales Channel Mix Direct sales channel revenue was $30.3 million for the three months ended March 31, 2026, compared to $30.0 million for the same period in 2025. Distributor channel revenue was $13.9 million in 2026, up from $11.5 million in 2025. #### Revenue by Customer Mix Revenue from Academia and government was $16.9 million for the three months ended March 31, 2026, compared to $17.1 million for the same period in 2025. Revenue from Biotechnology, pharmaceutical, distributor, and contract research organizations was $27.2 million in 2026, compared to $24.3 million in 2025. #### Revenue by Geographical Markets United States revenue was $24.4 million for the three months ended March 31, 2026, compared to $18.5 million for the same period in 2025. EMEA revenue was $10.8 million in 2026, compared to $11.6 million in 2025. APAC revenue was $7.8 million in 2026, compared to $8.9 million in 2025. Other geographical revenue was $1.2 million in 2026, compared to $2.5 million in 2025. Revenue in China was $3.6 million in 2026, compared to $5.3 million in 2025. #### Cost of Sales Total cost of sales increased by 7% to $22.9 million for the three months ended March 31, 2026, from $21.3 million for the same period in 2025, primarily due to higher service overhead costs. Product cost of sales increased by 3% to $15.9 million in 2026 from $15.5 million in 2025. Service cost of sales increased by 21% to $7.0 million in 2026 from $5.8 million in 2025. #### Gross Profit and Gross Margin Gross profit was $21.3 million for the three months ended March 31, 2026, compared to $20.2 million for the same period in 2025. Total gross margin decreased slightly to 48% in 2026 from 49% in 2025, mainly due to higher service costs of sales growing faster than service revenue. Product gross profit was $12.9 million in 2026, up 2% from $12.6 million in 2025, with product gross margin remaining flat at 45% for both periods. Service gross profit increased by 11% to $8.4 million in 2026 from $7.6 million in 2025, while service gross margin decreased to 55% in 2026 from 57% in 2025. #### Operating Expenses Research and development expenses were $9.6 million for the three months ended March 31, 2026, a slight decrease from $9.7 million in 2025. Sales and marketing expenses decreased to $11.6 million in 2026 from $12.5 million in 2025, primarily due to lower compensation expenses on lower headcount. General and administrative expenses increased to $18.5 million in 2026 from $12.9 million in 2025, primarily due to higher litigation-related expenses, outside consulting expenses, and bad debt reserves. #### Other Income (Expense) Interest expense was -$0.3 million for both the three months ended March 31, 2026, and 2025. Interest income increased to $0.8 million in 2026 from $0.5 million in 2025, due to recognition of interest on the 2024 Federal Tax refund. Other income, net decreased to $0.6 million in 2026 from $3.5 million in 2025, primarily due to an increase in realized and unrealized foreign exchange losses. #### Net Loss Net loss increased to -$18.9 million for the three months ended March 31, 2026, from -$11.4 million for the same period in 2025. #### Cash Flows Net cash used in operating activities was -$2.7 million for the three months ended March 31, 2026, compared to -$0.1 million for the same period in 2025. Net cash used in investing activities was -$27.1 million in 2026, compared to net cash provided of $9.5 million for the same period in 2025. Net cash provided by financing activities was $4.0 million in 2026, compared to net cash used of -$11.5 million for the same period in 2025. #### Key Operational Metrics Stock-based compensation expense was $4.9 million for the three months ended March 31, 2026, compared to $6.6 million for the same period in 2025. Provision for credit losses was $0.5 million in 2026, compared to no provision in 2025. Provision for excess and obsolete inventory was $0.2 million in 2026, compared to $0.3 million in 2025. Depreciation and amortization expense remained flat at $1.9 million for both periods. Amortization of operating lease-right-of use assets was $0.9 million in 2026, compared to $1.0 million in 2025. #### Outlook and Strategy Cytek Biosciences, Inc. anticipates revenue growth in absolute dollars through sales organization and territory expansion, broadening its customer base, and increasing product awareness. The company expects total cost of sales and operating expenses to rise in absolute dollars due to ongoing activities, investments in product development, and commercial infrastructure expansion. Service revenue is projected to grow as a percentage of total revenue, and gross margins are expected to improve by leveraging fixed manufacturing and service overhead, optimizing manufacturing processes, and managing material cost fluctuations. ### Related Stocks - [CTKB.US](https://longbridge.com/en/quote/CTKB.US.md) ## Related News & Research - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [Hafnia’s Q1 2026 Financial Results Presentation to Be Held on 27 May 2026 | HAFN Stock News](https://longbridge.com/en/news/287014236.md) - [LOWE'S REPORTS FIRST QUARTER 2026 SALES AND EARNINGS RESULTS | LOW Stock News](https://longbridge.com/en/news/287043063.md) - [Crombie Reit Announces May 2026 Monthly Distribution | CROMF Stock News](https://longbridge.com/en/news/286603129.md) - [Badger Meter to Webcast 2026 Investor Day | BMI Stock News](https://longbridge.com/en/news/287210895.md)