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Q4 and Full Year 2025 Earnings Presentation February 26, 2026
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Safe Harbor Statement 2 This presentation and the related conference call and webcast contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding Cytek’s future financial performance, including its outlook and expected revenue for the year ended December 31, 2026; Cytek’s growth and business strategies, product, and operational plans and market opportunities, as well as any expectations or assumptions thereto; Cytek’s ability to effectively navigate uncertain times and strengthen its competitive position as a market leader; Cytek’s ability to expand its global installed base and grow its recurring revenue streams; Cytek’s potential for sustainable growth and profitability; and any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on Cytek and its financial performance. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. 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,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “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. Forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from currently anticipated results, including, without limitation, 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 successfully and consistently to meet demand; Cytek’s ability to increase penetration in its existing markets and expand into adjacent markets; Cytek’s ability to secure additional distributors or maintain good relationships with its existing distributors; Cytek’s ability to successfully develop and introduce new products; Cytek’s ability to maintain, protect and enhance its intellectual property; Cytek’s ability to continue to stay in compliance with its material contractual obligations, applicable laws and regulations; and foreign currency exchange impacts. Information on these and additional risks and uncertainties and other information affecting Cytek’s business and operating results is contained in Cytek’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025, filed with the Securities and Exchange Commission (the “SEC”) on November 5, 2025, and Cytek’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, to be filed with the SEC on or about the date hereof, and other filings Cytek makes with the SEC from time to time. Unless otherwise indicated, these forward-looking statements speak only as of the date hereof. Except as required by applicable law, Cytek does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. This presentation and the related conference call and webcast include 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 margin,” “Adjusted EBITDA,” and “Adjusted EBITDA excluding investment income,” 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 tables accompanying this presentation. Cytek, Cytek AuroraTM, Cytek AuroraTM CS, Cytek AuroraTM Evo, Muse® Micro and Northern LightsTM are trademarks of Cytek Biosciences, Inc. Other trademarks appearing in this presentation are the property of their respective holders.
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$12.5 $13.3 $14.2 $14.2 $15.5 $45.0 $28.1 $31.4 $38.1 $46.6 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q4 2025 Revenue Results1 $57.5 -1% Y/Y $45.6 -2% Y/Y $52.3 +2% Y/Y $62.1M +8% Y/Y Q4 was the highest quarterly revenue ever achieved at Cytek Driven by a continuation of trends seen in the third quarter 2,3: • Stabilization and growth in the US • Strength in APAC • Solid expansion of recurring revenue businesses WW Q4 2025 Commentary Service Revenue Product Revenue $41.5 -8% Y/Y 1. As of quarter ended 12/31/2025 2. APAC = Asia Pacific 3. WW = Worldwide 3
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APAC $24.5 $18.5 $23.9 $27.2 $25.6 $16.2 $11.6 $12.3 $12.4 $19.6 $11.5 $8.9 $7.9 $11.1 $13.2 $5.3 $2.5 $1.5 $1.6 $3.7 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 United States EMEA Total APAC Other Revenue by Geographic Region1 4 1. EMEA = Europe, Middle East, & Africa; APAC = Asia-Pacific Q4 2025 Commentary US: Revenue was up 5% Y/Y driven by shifting sentiment in academic/government, partially offset by decline in instrument sales to pharma/biotech EMEA: Revenue grew 21% Y/Y driven by strong instrument demand from academic/government and continued momentum in service, partially offset by a decline in instrument sales to pharma/biotech APAC: Revenue was up 15% Y/Y driven by growth in product, service and reagent revenue $57.5 -1% Y/Y $45.6 -2% Y/Y $52.3 +2% Y/Y $62.1M +8% Y/Y $41.5 -8% Y/Y Other United States EMEA
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1. As of 12/31/2025 2. EMEA = Europe, Middle East, & Africa 3. APAC = Asia-Pacific; Rest of World = Canada, Latin America, and other non-specified regions Stabilized Product Revenue + Service Growth = Improved Overall Growth1 $68.7 $59.5 $22.8 $27.5 1H 2024 1H 2025 $91.5M $87.1M $84.6 $84.7 $24.4 $29.7 2H 2024 2H 2025 $109.0M $114.4M -5% Y/Y +5% Y/Y ServiceProduct 5
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Our Strategic Business Pillars1 6 Instruments Applications Bioinformatics Clinical1 1. 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). Expanded to a total installed base of 3,664 Cytek instruments, adding 208 units in the fourth quarter Unit placements of Cytek’s Aurora CS system grew 22% in 2025 over the prior year Launched the Cytek Aurora Evo system, a new full spectrum flow cytometer that improves on its flagship Cytek Aurora system and Cytek® Muse® Micro cell analyzer, a cost-effective flow cytometry system, awarded 2025 Biotech Breakthrough Awarded for Drug Discovery Solution of the Year Broadened Cytek Cloud Users to over 24K users in 2025, growing base by 50% since the start of the year, reaching nearly 8 users per instrument Total recurring revenue represented 34% of total revenue for 2025, achieving a new high for Cytek
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Recurring Revenue Businesses Continue to Grow Steadily1 1. Recurring revenue is comprised of service and reagent revenue; Other revenue is comprised of Instrument revenue Full Year 2024 Full Year 2025 29% of Total Revenue 34% of Total Revenue $57.5 $143.0 FY 2024 $69.4 $132.1 FY 2024 21% Y/Y Growth Other RevenueService & Reagent 7
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Q4 2025 Financial Overview 8 in millions Q4 2024 Q4 2025 Total Revenue $57.5 $62.1 Gross Profit $33.7 $32.9 Gross Margin 59% 53% Operating Expenses $30.7 $38.5 Income / (Loss) from Operations $3.0 $(5.6) Income / (Loss) before Taxes $10.3 $(4.0) Provision for Income Taxes $0.7 $(40.0) Net Income/(Loss) $9.6 $(44.1) Non-GAAP Adjusted EBITDA $12.5 $4.5 Special Items 1. Includes $2.6M expense reduction from license & royalty settlement liability adjustment 2. Includes $8.8M benefit from license & royalty settlement liability adjustment 3. Includes $2.1M tax related to license & royalty settlement liability adjustment 4. Includes $6.7M benefit from license & royalty settlement liability adjustment 5. Includes $38.1M deferred tax valuation allowance 1 2 1 3 4 5 5
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Full Year 2025 Financial Overview 9 in millions 2024 2025 Total Revenue $200.5 $201.5 Gross Profit $111.1 $104.5 Gross Margin 55% 52% Operating Expenses $131.6 $144.8 Income / (Loss) from Operations $(20.5) $(40.4) Income / (Loss) before Taxes $(5.7) $(29.8) Provision for Income Tax $0.3 $(36.7) Net Income/(Loss) $(6.0) $(66.5) Non-GAAP Adjusted EBITDA $9.9 $5.0 Special Items 1. Includes $2.6M expense reduction from license & royalty settlement liability adjustment 2. Includes $0.7M write-off of non-recurring deferred offering costs 3. Includes $8.8M benefit from license & royalty settlement liability adjustment 4. Includes $33.1M allowance/write-off against Deferred Tax Assets 5. Includes $6.7M benefit from license & royalty settlement liability adjustment 6. Includes $33.1M write-off against Deferred Tax Assets & $0.7M write-off of non-recurring deferred offering costs 1 1 3 2 2 2 4 65
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Initiating Full Year 2026 Revenue Guidance 10 FY 2026 Revenue1 $205 - $212 1. Assumes no change from current currency exchange rates or 2025 tariff policy +2 to +5% Y/Y growth million
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2026 Strategic Priorities Global Diversification Drive market penetration of instruments across multiple geographies Technology Platform Leader Advance technological leadership with innovative new product solutions Growing Recurring Revenue Drive reagent and service businesses benefitting from established and expanding global installed base Attractive Financial Profile Well-positioned to deliver long-term value through differentiated technology portfolio, durable growth drivers, strong balance sheet, and global reach 11
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Appendix 12
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Reconciliation of GAAP to Non-GAAP Measures (Unaudited) Three months ended Twelve months ended (In thousands) December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 GAAP gross profit $ 32,885 $ 33,652 $ 104,460 $ 111,106 Stock based compensation $ 893 $ 1,139 $ 3,995 $ 4,438 Amortization of acquisition-related intangible assets $ 481 $ 498 $ 1,935 $ 1,997 Non-GAAP adjusted gross profit $ 34,259 $ 35,289 $ 110,390 $ 117,541 GAAP gross margin 53 % 59 % 52 % 55 % Non-GAAP adjusted gross margin 55 % 61 % 55 % 59 % GAAP net income $ (44,076) $ 9,643 $ (66,539) $ (6,020) Depreciation and amortization $ 3,045 $ 2,849 $ 11,978 $ 10,595 Provision for income taxes* $ 40,045 $ 680 $ 36,698 $ 320 Interest income $ (580) $ (913) $ (2,215) $ (5,121) Interest (income) expense, net $ (725) $ (5,933) $ 475 $ (5,240) Foreign currency exchange gain (loss) $ 1,255 $ 1,764 $ (730) $ 3,597 Stock based compensation $ 5,527 $ 7,003 $ 24,585 $ 26,848 License and royalty settlement adjustment $ — $ (2,561) $ — $ (2,561) Non-recurring deferred ATM facility offering cost write off $ — $ — $ 711 $ — Non-GAAP adjusted EBITDA $ 4,491 $ 12,532 $ 4,963 $ 22,418 Investment income $ (1,805) $ (2,298) $ (8,075) $ (8,016) Non-GAAP adjusted EBITDA excluding investment income $ 2,686 $ 10,234 $ (3,112) $ 14,402 *The Company recorded valuation allowance of $38.1 million and $33.1 million for the three and twelve months ended December 31, 2025, respectively, due to cumulative pre-tax losses and uncertainty regarding the realization of deferred tax assets. The increase was recorded as a component of income tax expense. 13
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Thank You 14