Cytek Biosciences Reports 6% Revenue Growth to $48.1 Million, Faces Increased Net Loss

Cytek Biosciences, Inc. reported a total revenue of $48.1 million for the three months ended June 30, 2026, marking a 6% increase from $45.6 million in the same period of the previous year. For the six months ended June 30, 2026, revenue also rose by 6% to $92.3 million compared to $87.1 million in the prior year. The growth was driven by a 4% increase in product revenue, which reached $32.6 million, and a 10% rise in service revenue, totaling $15.6 million. The company attributed this performance to increased instrument sales in the United States, although it faced declines in other regions such as EMEA and APAC.

Despite the revenue growth, Cytek reported a net loss of $12.2 million for the second quarter of 2026, compared to a loss of $5.6 million in the same quarter of 2025. For the first half of 2026, the net loss was $31.0 million, up from $17.0 million in the prior year. The increase in losses was primarily due to higher operating expenses, which rose to $39.7 million in the second quarter, up from $34.5 million a year earlier. This increase was driven by higher research and development costs, which grew by 10% to $9.7 million, and general and administrative expenses, which surged by 24% to $16.8 million, largely due to litigation-related costs.

Operationally, Cytek's customer base and product adoption metrics showed positive trends. The company continues to expand its direct sales model in North America, Europe, and parts of Asia-Pacific, with direct sales accounting for 69% of total revenue in the second quarter of 2026. The installed base of instruments is expected to drive recurring revenue from service contracts, which is anticipated to grow as the company expands its offerings. Cytek's workforce is also set to increase to support this growth, with plans to hire additional personnel in sales and technical roles.

In terms of financial position, Cytek's cash and cash equivalents decreased to $73.8 million as of June 30, 2026, down from $90.9 million at the end of 2025. The company also reported a total of $188.2 million in marketable securities. The decrease in cash was attributed to net cash used in operating activities, which amounted to $1.4 million for the first half of 2026. Looking ahead, Cytek plans to continue investing in research and development, commercial infrastructure, and geographic expansion, with expectations of increased expenses as it scales operations and introduces new products.

Overall, Cytek Biosciences is navigating a period of growth amid rising operational costs and net losses, with a strategic focus on expanding its market presence and enhancing its product offerings to drive future revenue growth.