Cytek Biosciences, Inc. (Nasdaq: CTKB), a leading cell analysis solutions company, today announced preliminary, unaudited revenue results for the full year ended December 31, 2024.
Cytek expects its full year revenue for 2024 to be between $200 million and $201 million, representing 4% growth over Cytek’s 2023 revenue of $193.0 million. This included a negative foreign exchange impact of approximately $1.0 million. Expected fourth quarter revenue of $57 million to $58 million represents growth of 11% to 13% compared to the third quarter of 2024 and decline of 2% to flat compared to a strong fourth quarter of 2023. The appreciation of the US dollar negatively affected fourth quarter revenue by approximately $1.5 million.
“Our fourth quarter revenue was significantly higher than the prior quarters of 2024, consistent with our historical pattern, although it was slightly below expectations due to the impact of the appreciation of the US dollar against other currencies in which we do business, and order delays in some markets. Our revenue in Asia Pacific and Rest of World markets grew strongly,” said Dr. Wenbin Jiang, CEO of Cytek Biosciences. “Despite these headwinds, we remain confident in Cytek’s long-term potential and business strategy. There is a large and growing opportunity for our advanced cell analysis tools, and with strong execution across our portfolio, we are well positioned to deliver sustainable growth and profitability.”
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.