<p>Cytek Biosciences, Inc. ((CTKB)) 已召开其 2026 年第一季度财报电话会议。请继续阅读以了解会议的主要亮点。</p>
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<p>Cytek Biosciences 最近的财报电话会议传达了谨慎乐观的语气，管理层强调 2026 年开局良好，收入稳步增长，美国市场强劲反弹，重复收入不断扩大，同时也承认了利润率压力和净亏损扩大。公司将更高的法律和运营成本、地区性干扰以及外汇影响视为短期阻力，尽管其描述的长期盈利轨迹正在改善。</p>
<h2>收入增长与 2026 年良好开局</h2>
<p>Cytek 在 2026 年第一季度的收入为 4410 万美元，比去年同期的 4150 万美元增长了 6%，管理层将这一季度描述为年初的良好开局。管理层表示，这一表现反映了美国市场条件回归正常，尽管某些地区存在疲软，但他们对需求环境充满信心。</p>
<h2>美国市场表现强劲</h2>
<p>美国收入激增至 2440 万美元，同比增长 32%，而去年同期为 1850 万美元，使该地区成为本季度的主要增长引擎。公司归功于来自学术实验室、生物制药客户和重复购买者的广泛仪器需求，表明核心客户正在积极投资于 Cytek 的平台。</p>
<h2>重复收入势头</h2>
<p>过去 12 个月的综合试剂和服务收入达到 1840 万美元，占总收入的 35%，同比增长 19%。管理层强调这一重复收入流是业务的关键稳定器，指出试剂和服务合同的采用上升，表明客户在 Cytek 的生态系统中变得更加深入。</p>
<h2>服务和试剂双位数增长</h2>
<p>服务收入同比增长 15%，达到 1540 万美元，而试剂收入增长中位数为 16%。管理层指出，亚太地区和其他地区的试剂需求特别强劲，增长超过 40%，突显了公司核心美国市场之外的消费品和服务附加的强劲表现。</p>
<h2>安装基础和单位增长</h2>
<p>Cytek 在第一季度新增了 125 台仪器，使其安装基础达到 3789 台，总仪器数量同比增长 9%。FSP 仪器单位增长了 3%，管理层将不断扩大的安装基础视为未来试剂、服务和软件重复收入的基础。</p>
<h2>产品采用：Aurora 和 Cytek Cloud</h2>
<p>Aurora 分析仪类别的收入同比增长约 8%，这得益于 Aurora Evo 的推出，表明旗舰系统的需求持续。公司还强调，Cytek Cloud 的用户已超过 26000 人，平均每台安装的 FSP 仪器约有八名用户，进一步强化了软件和云服务在其产品中的日益重要性。</p>
<h2>资产负债表强劲</h2>
<p>Cytek 在本季度末的现金、现金等价物和可交易证券总额为 2.622 亿美元，略高于 2025 年年末的 2.615 亿美元。管理层强调，这一资产负债表的强劲为资助增长计划和应对短期盈利波动提供了充足的灵活性，而不牺牲战略投资。</p>
<h2>确认全年指引和盈利路径</h2>
<p>公司重申其 2026 年全年收入预期为 2.05 亿至 2.12 亿美元，意味着增长 2% 至 5%，并预计调整后的 EBITDA 将每季度改善。管理层重申其目标是在全年实现正的调整后 EBITDA，将 2026 年视为向可持续盈利过渡的时期，得益于重复收入和运营杠杆。</p>
<h2>EMEA 地区的区域性阻力</h2>
<p>EMEA 地区的收入同比下降 7%，降至 1080 万美元，该地区面临与中东冲突相关的干扰和季度末的运输延误。高管们将这些问题视为主要是外部和时机相关的，但疲软的表现突显了 Cytek 的增长在地理分布上的不均衡。</p>
<h2>亚太地区因中国订单时机导致下降</h2>
<p>亚太地区的收入（包括中国）同比下降 13%，管理层主要将其归因于客户在去年第一季度加速采购后的订单时机。他们指出，除中国外的亚太地区显示出强劲增长，表明一旦消除订单时机扭曲，潜在需求仍然健康。</p>
<h2>毛利率压力</h2>
<p>GAAP 毛利率从 49% 降至 48%，而调整后的毛利率从 52% 降至 51%，反映出毛利水平上盈利能力的温和压力。由于劳动力成本上升，服务毛利率略有下降，表明尽管服务增长，工资和人员投资正在对毛利产生压力。</p>
<h2>上升的运营费用</h2>
<p>总运营费用同比增长 13%，达到 3970 万美元，其中一般和行政费用激增 43%，即 560 万美元。管理层指出，较高的法律费用、外部咨询和增加的坏账准备是主要驱动因素，表明非核心成本目前超过了收入增长。</p>
<h2>GAAP 净亏损扩大和调整后 EBITDA 下降</h2>
<p>公司的 GAAP 净亏损从去年同期的 1140 万美元扩大至 1890 万美元，突显出成本上升对盈利的拖累。调整后的 EBITDA 亏损也从 330 万美元扩大至 910 万美元，管理层将这一挫折主要归因于运营费用的增加，而非顶线需求的恶化。</p>
<h2>专利诉讼和法律费用</h2>
<p>与持续的专利诉讼相关的法律支出显著增加，显著推动了管理和行政费用的激增。尽管管理层将这些法律费用描述为暂时性的，但他们承认这些行动正在造成短期的成本压力，并对潜在救济的时间和规模产生不确定性。</p>
<h2>外汇和税收阻力</h2>
<p>其他收入受到 120 万美元外汇损失的压力，扭转了去年 130 万美元的外汇收益，给底线带来了负担。税费从 10 万美元上升至 150 万美元，增加了另一层阻力，并帮助解释了净亏损为何增长超过单纯的经营趋势所暗示的水平。</p>
<h2>仪器产品收入放缓</h2>
<p>包括仪器和试剂在内的产品收入同比仅增长约 2%，达到 2880 万美元，因为某些地区的仪器需求减弱。管理层将这一放缓与地区疲软和订单时机效应联系在一起，强调他们预计服务和试剂将在短期内承担更多的增长负担。</p>
<h2>前瞻性指导和展望</h2>
<p>展望未来，Cytek 的指导假设服务和试剂将继续强劲增长，仪器将实现持平到适度增长，并为宏观经济风险提供缓冲。管理层预计随着季节性收入的增长，毛利率将改善，并重申调整后的 EBITDA 每季度应呈上升趋势，最终在 2026 年实现积极的全年业绩，得益于稳健的现金状况。</p>
<p>Cytek 的财报电话会议描绘了一幅公司在强劲商业势头与短期盈利挑战之间寻求平衡的图景。投资者可能会关注经常性收入和美国增长是否能够抵消地区和法律阻力，以及管理层在 2026 年进展中将不断增长的安装基础转化为可持续收益的能力。</p>

CTKB

标普生物技术 ETF - SPDR

纽交所高增长板生物技术指数 ETF - First Trust

动态生物技术与基因组 ETF - Invesco

标普生物技术 3 倍做多 - Direxion

纳斯达克生物科技指数 ETF - iShares Nasdaq

<p>Cytek Biosciences 报告了 2026 年第一季度的收入为 4410 万美元，同比增长 6%，主要得益于美国市场的强劲表现和经常性收入的增长。尽管面临利润压力和更大的净亏损，管理层对长期盈利能力仍持乐观态度。公司重申了全年收入指导为 2.05 亿美元至 2.12 亿美元。EMEA 和 APAC 地区面临挑战，毛利率因运营费用上升略有下降。Cytek 的资产负债表依然强劲，现金余额为 2.622 亿美元，支持持续投资于增长计划</p>

<p>Cytek Biosciences, Inc. ((CTKB)) has held its Q1 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>Cytek Biosciences, Inc. ((CTKB)) 已召开其 2026 年第一季度财报电话会议。请继续阅读以了解会议的主要亮点。</p>
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<div class="lb-trans"><h3>在 TipRanks 上享受 55% 的折扣</h3>
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</div><p>Cytek Biosciences’ latest earnings call struck a cautiously optimistic tone, as management highlighted a solid start to 2026 with steady revenue growth, a strong rebound in the U.S. and expanding recurring revenue, while also acknowledging margin pressure and a wider net loss. The company framed higher legal and operating costs, regional disruptions and FX impacts as near-term headwinds on what it described as an improving long-term trajectory toward profitability.</p>
<div class="lb-trans"><p>Cytek Biosciences 最近的财报电话会议传达了谨慎乐观的语气，管理层强调 2026 年开局良好，收入稳步增长，美国市场强劲反弹，重复收入不断扩大，同时也承认了利润率压力和净亏损扩大。公司将更高的法律和运营成本、地区性干扰以及外汇影响视为短期阻力，尽管其描述的长期盈利轨迹正在改善。</p>
</div><h2>Revenue Growth and Constructive Start to 2026</h2>
<div class="lb-trans"><h2>收入增长与 2026 年良好开局</h2>
</div><p>Cytek posted Q1 2026 revenue of $44.1 million, up 6% from $41.5 million a year ago, describing the quarter as a constructive start to the year. Management said the performance reflects a return to more normalized U.S. market conditions after prior volatility, giving them confidence in the demand environment despite regional pockets of softness.</p>
<div class="lb-trans"><p>Cytek 在 2026 年第一季度的收入为 4410 万美元，比去年同期的 4150 万美元增长了 6%，管理层将这一季度描述为年初的良好开局。管理层表示，这一表现反映了美国市场条件回归正常，尽管某些地区存在疲软，但他们对需求环境充满信心。</p>
</div><h2>Strong U.S. Performance</h2>
<div class="lb-trans"><h2>美国市场表现强劲</h2>
</div><p>U.S. revenue surged to $24.4 million, a 32% year-over-year increase from $18.5 million, making the region the clear growth engine for the quarter. The company credited broad-based instrument demand from academic labs, biopharma customers and repeat buyers, suggesting that core customers are actively investing in Cytek’s platforms.</p>
<div class="lb-trans"><p>美国收入激增至 2440 万美元，同比增长 32%，而去年同期为 1850 万美元，使该地区成为本季度的主要增长引擎。公司归功于来自学术实验室、生物制药客户和重复购买者的广泛仪器需求，表明核心客户正在积极投资于 Cytek 的平台。</p>
</div><h2>Recurring Revenue Momentum</h2>
<div class="lb-trans"><h2>重复收入势头</h2>
</div><p>Trailing 12-month combined reagents and service revenue reached $18.4 million, representing 35% of total revenue and growing 19% year-over-year. Management emphasized this recurring stream as a key stabilizer for the business, pointing to rising adoption of reagents and service contracts as evidence that customers are becoming more deeply embedded in Cytek’s ecosystem.</p>
<div class="lb-trans"><p>过去 12 个月的综合试剂和服务收入达到 1840 万美元，占总收入的 35%，同比增长 19%。管理层强调这一重复收入流是业务的关键稳定器，指出试剂和服务合同的采用上升，表明客户在 Cytek 的生态系统中变得更加深入。</p>
</div><h2>Services and Reagents Double-Digit Growth</h2>
<div class="lb-trans"><h2>服务和试剂双位数增长</h2>
</div><p>Service revenue climbed 15% year-over-year to $15.4 million, while reagent revenue grew in the mid-teens, with management citing a 16% increase. Reagent demand was particularly strong in APAC and the rest of the world, where growth exceeded 40% year-over-year, underscoring robust consumables and service attachment outside the company’s core U.S. base.</p>
<div class="lb-trans"><p>服务收入同比增长 15%，达到 1540 万美元，而试剂收入增长中位数为 16%。管理层指出，亚太地区和其他地区的试剂需求特别强劲，增长超过 40%，突显了公司核心美国市场之外的消费品和服务附加的强劲表现。</p>
</div><h2>Installed Base and Unit Growth</h2>
<div class="lb-trans"><h2>安装基础和单位增长</h2>
</div><p>Cytek added 125 instruments in Q1, bringing its installed base to 3,789 units, as total instrument volume grew 9% year-over-year. FSP instrument units increased 3%, and management portrayed the expanding installed base as a foundation for future recurring revenue from reagents, service and software.</p>
<div class="lb-trans"><p>Cytek 在第一季度新增了 125 台仪器，使其安装基础达到 3789 台，总仪器数量同比增长 9%。FSP 仪器单位增长了 3%，管理层将不断扩大的安装基础视为未来试剂、服务和软件重复收入的基础。</p>
</div><h2>Product Adoption: Aurora and Cytek Cloud</h2>
<div class="lb-trans"><h2>产品采用：Aurora 和 Cytek Cloud</h2>
</div><p>Revenue from the Aurora analyzer category rose about 8% year-over-year following the launch of the Aurora Evo, signaling continued demand for the flagship system. The company also highlighted that Cytek Cloud has surpassed 26,000 users, or roughly eight users per installed FSP instrument, reinforcing the growing importance of software and cloud engagement in its offering.</p>
<div class="lb-trans"><p>Aurora 分析仪类别的收入同比增长约 8%，这得益于 Aurora Evo 的推出，表明旗舰系统的需求持续。公司还强调，Cytek Cloud 的用户已超过 26000 人，平均每台安装的 FSP 仪器约有八名用户，进一步强化了软件和云服务在其产品中的日益重要性。</p>
</div><h2>Balance Sheet Strength</h2>
<div class="lb-trans"><h2>资产负债表强劲</h2>
</div><p>Cytek ended the quarter with $262.2 million in cash, cash equivalents and marketable securities, slightly up from $261.5 million at year-end 2025. Management stressed that this balance sheet strength provides ample flexibility to fund growth initiatives and navigate near-term earnings volatility without sacrificing strategic investments.</p>
<div class="lb-trans"><p>Cytek 在本季度末的现金、现金等价物和可交易证券总额为 2.622 亿美元，略高于 2025 年年末的 2.615 亿美元。管理层强调，这一资产负债表的强劲为资助增长计划和应对短期盈利波动提供了充足的灵活性，而不牺牲战略投资。</p>
</div><h2>Affirmed Full-Year Guidance and Path to Profitability</h2>
<div class="lb-trans"><h2>确认全年指引和盈利路径</h2>
</div><p>The company reaffirmed its full-year 2026 revenue outlook of $205 million to $212 million, implying 2% to 5% growth, and expects adjusted EBITDA to improve each quarter. Management reiterated its goal of delivering positive adjusted EBITDA for the full year, framing 2026 as a transition period toward sustainable profitability supported by recurring revenue and operating leverage.</p>
<div class="lb-trans"><p>公司重申其 2026 年全年收入预期为 2.05 亿至 2.12 亿美元，意味着增长 2% 至 5%，并预计调整后的 EBITDA 将每季度改善。管理层重申其目标是在全年实现正的调整后 EBITDA，将 2026 年视为向可持续盈利过渡的时期，得益于重复收入和运营杠杆。</p>
</div><h2>Regional Headwinds in EMEA</h2>
<div class="lb-trans"><h2>EMEA 地区的区域性阻力</h2>
</div><p>EMEA revenue fell 7% year-over-year to $10.8 million, as the region faced disruptions tied to conflict in the Middle East and shipment delays late in the quarter. Executives framed these issues as largely external and timing-related, but the softness underlined that Cytek’s growth is not evenly distributed across geographies.</p>
<div class="lb-trans"><p>EMEA 地区的收入同比下降 7%，降至 1080 万美元，该地区面临与中东冲突相关的干扰和季度末的运输延误。高管们将这些问题视为主要是外部和时机相关的，但疲软的表现突显了 Cytek 的增长在地理分布上的不均衡。</p>
</div><h2>APAC Decline Driven by China Order Timing</h2>
<div class="lb-trans"><h2>亚太地区因中国订单时机导致下降</h2>
</div><p>APAC revenue, including China, declined 13% year-over-year, which management attributed primarily to order timing after customers accelerated purchases in China in the prior-year Q1. They noted that APAC excluding China showed strong growth, suggesting underlying demand remains healthy once the order timing distortion is removed.</p>
<div class="lb-trans"><p>亚太地区的收入（包括中国）同比下降 13%，管理层主要将其归因于客户在去年第一季度加速采购后的订单时机。他们指出，除中国外的亚太地区显示出强劲增长，表明一旦消除订单时机扭曲，潜在需求仍然健康。</p>
</div><h2>Gross Margin Pressure</h2>
<div class="lb-trans"><h2>毛利率压力</h2>
</div><p>GAAP gross margin slipped to 48% from 49%, while adjusted gross margin eased to 51% from 52%, reflecting modest pressure on profitability at the gross level. Service gross margin was slightly lower due to higher labor costs, indicating that wage and staffing investments are weighing on margins even as services grow.</p>
<div class="lb-trans"><p>GAAP 毛利率从 49% 降至 48%，而调整后的毛利率从 52% 降至 51%，反映出毛利水平上盈利能力的温和压力。由于劳动力成本上升，服务毛利率略有下降，表明尽管服务增长，工资和人员投资正在对毛利产生压力。</p>
</div><h2>Rising Operating Expenses</h2>
<div class="lb-trans"><h2>上升的运营费用</h2>
</div><p>Total operating expenses rose 13% year-over-year to $39.7 million, with general and administrative costs jumping 43%, or $5.6 million. Management pointed to higher legal expenses, outside consulting and increased bad debt reserves as the main drivers, signaling that non-core costs are currently outpacing revenue growth.</p>
<div class="lb-trans"><p>总运营费用同比增长 13%，达到 3970 万美元，其中一般和行政费用激增 43%，即 560 万美元。管理层指出，较高的法律费用、外部咨询和增加的坏账准备是主要驱动因素，表明非核心成本目前超过了收入增长。</p>
</div><h2>Wider GAAP Net Loss and Lower Adjusted EBITDA</h2>
<div class="lb-trans"><h2>GAAP 净亏损扩大和调整后 EBITDA 下降</h2>
</div><p>The company’s GAAP net loss widened to $18.9 million from $11.4 million in the prior-year quarter, underscoring the earnings drag from rising costs. Adjusted EBITDA loss also expanded to $9.1 million from $3.3 million, a setback management linked largely to the step-up in operating expenses rather than to a deterioration in top-line demand.</p>
<div class="lb-trans"><p>公司的 GAAP 净亏损从去年同期的 1140 万美元扩大至 1890 万美元，突显出成本上升对盈利的拖累。调整后的 EBITDA 亏损也从 330 万美元扩大至 910 万美元，管理层将这一挫折主要归因于运营费用的增加，而非顶线需求的恶化。</p>
</div><h2>Patent Litigation and Legal Costs</h2>
<div class="lb-trans"><h2>专利诉讼和法律费用</h2>
</div><p>A significant increase in legal spending tied to ongoing patent litigation contributed meaningfully to the surge in G&amp;A expenses. While management portrayed these legal costs as temporary, they acknowledged that the actions are creating near-term cost pressure and uncertainty around the timing and scale of potential relief.</p>
<div class="lb-trans"><p>与持续的专利诉讼相关的法律支出显著增加，显著推动了管理和行政费用的激增。尽管管理层将这些法律费用描述为暂时性的，但他们承认这些行动正在造成短期的成本压力，并对潜在救济的时间和规模产生不确定性。</p>
</div><h2>Foreign Exchange and Tax Headwinds</h2>
<div class="lb-trans"><h2>外汇和税收阻力</h2>
</div><p>Other income was pressured by a $1.2 million foreign exchange loss, reversing a $1.3 million FX gain in the prior year and weighing on the bottom line. Tax expense climbed to $1.5 million from $0.1 million, adding another layer of headwind and helping explain why the net loss grew more than operating trends alone would suggest.</p>
<div class="lb-trans"><p>其他收入受到 120 万美元外汇损失的压力，扭转了去年 130 万美元的外汇收益，给底线带来了负担。税费从 10 万美元上升至 150 万美元，增加了另一层阻力，并帮助解释了净亏损为何增长超过单纯的经营趋势所暗示的水平。</p>
</div><h2>Instrument Product Revenue Moderation</h2>
<div class="lb-trans"><h2>仪器产品收入放缓</h2>
</div><p>Product revenue, which includes instruments and reagents, increased only about 2% year-over-year to $28.8 million as instrument demand softened in some regions. Management linked the moderation to regional weakness and order timing effects, emphasizing that they expect services and reagents to shoulder more of the growth burden near term.</p>
<div class="lb-trans"><p>包括仪器和试剂在内的产品收入同比仅增长约 2%，达到 2880 万美元，因为某些地区的仪器需求减弱。管理层将这一放缓与地区疲软和订单时机效应联系在一起，强调他们预计服务和试剂将在短期内承担更多的增长负担。</p>
</div><h2>Forward-Looking Guidance and Outlook</h2>
<div class="lb-trans"><h2>前瞻性指导和展望</h2>
</div><p>Looking ahead, Cytek’s guidance assumes continued strength in services and reagents, with instruments delivering flat to modest growth and a buffer for macroeconomic risks. Management expects gross margins to improve as revenue builds seasonally and reiterated that adjusted EBITDA should trend higher each quarter, culminating in a positive full-year 2026 result backed by a solid cash position.</p>
<div class="lb-trans"><p>展望未来，Cytek 的指导假设服务和试剂将继续强劲增长，仪器将实现持平到适度增长，并为宏观经济风险提供缓冲。管理层预计随着季节性收入的增长，毛利率将改善，并重申调整后的 EBITDA 每季度应呈上升趋势，最终在 2026 年实现积极的全年业绩，得益于稳健的现金状况。</p>
</div><p>Cytek’s earnings call painted a picture of a company balancing strong commercial momentum with short-term profitability challenges. Investors are likely to focus on whether recurring revenue and U.S. growth can offset regional and legal headwinds, and on management’s ability to convert a growing installed base into sustainable earnings as 2026 progresses.</p>
<div class="lb-trans"><p>Cytek 的财报电话会议描绘了一幅公司在强劲商业势头与短期盈利挑战之间寻求平衡的图景。投资者可能会关注经常性收入和美国增长是否能够抵消地区和法律阻力，以及管理层在 2026 年进展中将不断增长的安装基础转化为可持续收益的能力。</p>
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Cytek Biosciences 在增长动能与成本压力之间取得平衡