Stock Track | Cytek Biosciences Soars Over 33% on Q3 Beat and Raised Guidance

Stock Track11-06

Shares of Cytek Biosciences (NASDAQ: CTKB), a leading life sciences technology company, soared over 33% on Monday, November 6th, 2024, after the company reported better-than-expected third-quarter results and raised its full-year revenue guidance.

For the third quarter ended September 30, 2024, Cytek reported total revenue of $51.5 million, representing a 7% year-over-year increase and surpassing analysts' consensus estimates of $50.7 million. The strong revenue growth was driven by robust demand from the biopharma sector, particularly from global pharmaceutical companies and contract research organizations (CROs).

More significantly, Cytek swung to a GAAP net income of $0.9 million, compared to a net loss of $6.5 million in the prior-year quarter. The company also reported positive adjusted EBITDA of $7.6 million, reflecting disciplined expense management and revenue growth.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1179095603?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-06 23:09","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1179095603","market":"us","top_or_hot":-1,"title":"Stock Track | Cytek Biosciences Soars Over 33% on Q3 Beat and Raised Guidance","media":"Stock Track","content":"<p>Shares of Cytek Biosciences (NASDAQ: CTKB), a leading life sciences technology company, soared over 33% on Monday, November 6th, 2024, after the company reported better-than-expected third-quarter results and raised its full-year revenue guidance.</p>\n\n<p>For the third quarter ended September 30, 2024, Cytek reported total revenue of $51.5 million, representing a 7% year-over-year increase and surpassing analysts' consensus estimates of $50.7 million. The strong revenue growth was driven by robust demand from the biopharma sector, particularly from global pharmaceutical companies and contract research organizations (CROs).</p>\n\n<p>More significantly, Cytek swung to a GAAP net income of $0.9 million, compared to a net loss of $6.5 million in the prior-year quarter. The company also reported positive adjusted EBITDA of $7.6 million, reflecting disciplined expense management and revenue growth.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Cytek Biosciences Soars Over 33% on Q3 Beat and Raised Guidance</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Cytek Biosciences Soars Over 33% on Q3 Beat and Raised Guidance\n</h2>\n\n<h4 class=\"meta\">\n\n2024-11-06 23:09 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Cytek Biosciences (NASDAQ: CTKB), a leading life sciences technology company, soared over 33% on Monday, November 6th, 2024, after the company reported better-than-expected third-quarter ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CTKB","symbol_name":"Cytek BioSciences","start_time":0,"source_url":"","article_id":"1179095603","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1179095603","pubTimestamp":1730905746,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Cytek Biosciences , a leading life sciences technology company, soared over 33% on Monday, November 6th, 2024, after the company reported better-than-expected third-quarter results and raised its full-year revenue guidance.For the third quarter ended September 30, 2024, Cytek reported total revenue of $51.5 million, representing a 7% year-over-year increase and surpassing analysts' consensus estimates of $50.7 million. The strong revenue growth was driven by robust demand from the biop","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"CTKB":"Cytek BioSciences"},"translate_title":"股票赛道Cytek Biosciences第三季度业绩飙升逾33%并上调指引","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CTKB":1},"content_text":"Shares of Cytek Biosciences (NASDAQ: CTKB), a leading life sciences technology company, soared over 33% on Monday, November 6th, 2024, after the company reported better-than-expected third-quarter results and raised its full-year revenue guidance.\nFor the third quarter ended September 30, 2024, Cytek reported total revenue of $51.5 million, representing a 7% year-over-year increase and surpassing analysts' consensus estimates of $50.7 million. The strong revenue growth was driven by robust demand from the biopharma sector, particularly from global pharmaceutical companies and contract research organizations (CROs).\nMore significantly, Cytek swung to a GAAP net income of $0.9 million, compared to a net loss of $6.5 million in the prior-year quarter. The company also reported positive adjusted EBITDA of $7.6 million, reflecting disciplined expense management and revenue growth.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1179095603"}