Cytek Holds 2026 Revenue Midpoint After Growth Cools

The Tip Desk · November 11, 2026 · 3 min read

Third-quarter revenue was $53.2 million, up 2% from a year earlier, and the company narrowed its full-year range to $208 million to $211 million.

Cytek Biosciences (CTKB), a cell analysis solutions company, reported third-quarter revenue of $53.2 million, a 2% increase from the year-earlier period after 6% year-over-year growth in both the first and second quarters of 2026.

The company said the increase was driven by growth in the United States, where revenue rose 12%, led by demand for high-end instruments and service. High-end Full Spectrum Profiling instrument revenue increased 11%, and Aurora Evo placements nearly doubled year over year, according to Chief Executive Wenbin Jiang.

Product revenue declined to $37.2 million from $38.1 million a year earlier. Service revenue rose to $16.1 million from $14.2 million. Total recurring revenue, comprising service and reagents, reached $19.1 million, up from $18.5 million in the second quarter and $18.4 million in the first quarter. On a trailing-12-month basis, recurring revenue represented 36% of total revenue, up from 33% as of the third quarter of 2025.

GAAP gross profit was $31.2 million, up 13% from $27.6 million a year earlier. GAAP gross margin was 59%, a 590-basis-point improvement versus the third quarter of 2025. Adjusted gross margin was 61% versus 55% a year earlier. The company said those were the best GAAP and adjusted third-quarter margins since 2023.

The installed base reached 4,073 instruments after 140 units were added in the third quarter.

Operating expenses were $39.6 million, an 8% increase from a year earlier. General and administrative expenses were $18.4 million, up 14%, primarily due to higher litigation-related expenses, partially offset by lower compensation and severance and the non-recurrence of a write-off of deferred offering costs in the prior-year period. Research and development expenses were $9.4 million. Sales and marketing expenses were $11.9 million.

Loss from operations was $8.4 million, compared with $9.2 million a year earlier. Net loss was $6.1 million, or $0.05 a share, compared with $5.5 million, or $0.04 a share, a year earlier. Adjusted EBITDA was $0.7 million, down from $2.5 million a year earlier.

Cash, cash equivalents, restricted cash and marketable securities totaled $256.3 million as of September 30, 2026, down $5.7 million from $262.0 million as of June 30.

Cytek is maintaining the midpoint of its full-year 2026 revenue outlook and narrowing the range to $208 million to $211 million, assuming no change in current foreign currency exchange rates. After the second quarter it had updated guidance to $207 million to $212 million. Jiang said the company is reiterating the midpoint and expects a strong finish to the year.

On August 21, the company said a jury in the U.S. District Court for the District of Delaware found in Cytek’s favor on three of four asserted claims, finding both non-infringement and invalidity for each of those three claims. On the fourth claim, the jury found no literal infringement but did find infringement under the doctrine of equivalents. Cytek has filed post-verdict motions and intends to pursue all available legal remedies, including a potential appeal.