Cytek Biosciences, Inc.
CTKB · Laboratory Analytical Instruments · 129.1M shares · +43%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: $22M (gross $44M, SBC $22M)
Reference price $2.78 · est. market cap ~$359M — last insider purchase, 2025-06-02 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D50Flow-cytometry tools company with operating losses and near-neutral free cash flow.
Strengths
- Strong liquidity — current ratio 5.0 (65th)
Risks
- Operating/net losses — operating margin -20%, net margin -33%
- Flat revenue — +1%
- Tools-demand softness/competition — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -33.0%)
- Cash burnNegative free cash flow (-8.8M)
- Customer concentration~73% of revenue from one customer/distributor — Revenue from direct sales represented 73% , 75% and 76% of total revenue for the years ended December 31, 2025, 2024 and 2023, respectively, and revenue from distributors represented 27% , 25% and 24%
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +43%/yr over 4y (dilution, book value/share -80%)
- Revenue declineRevenue -29.0% YoY
- China exposure• We are subject to governmental export controls and sanctions programs that could impair our ability to compete in international markets due to licensing requirements and subject us to liability if w
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, RENAISSANCE TECHNOLOGIES LLC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
51.8%
Operating margin
-20.0%
Net margin
-33.0%
Return on equity
-19.5%
Return on assets
-14.4%
Revenue growth (QoQ)
-29.0%
Current ratio
5.0×
Free cash flow
-$9M
EBITDA
-$33M
Tangible book value
$308M
Cash & investments
$91M
Cash runway
41q
Stock comp / revenue
12.2%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-12 | Yan Ming | Gift | 136K | — |
| 2026-06-10 | Ball Jack | Option exercise | 44K | — |
| 2026-06-10 | Holder Michael | Option exercise | 44K | — |
| 2026-06-10 | NEFF DEBORAH J | Option exercise | 44K | — |
| 2026-06-10 | Imper Vera | Option exercise | 44K | — |
| 2026-05-18 | Busque Philippe | Option exercise | 2.4K | — |
| 2026-05-18 | Busque Philippe | Tax withheld | 620 | $3.55 |
| 2026-05-18 | Busque Philippe | Option exercise | 5.6K | — |
| 2026-05-18 | Busque Philippe | Tax withheld | 1.4K | $3.55 |
| 2026-05-18 | McCombe William D. | Option exercise | 6.3K | — |
| 2026-05-18 | McCombe William D. | Tax withheld | 2.3K | $3.55 |
| 2026-05-18 | McCombe William D. | Option exercise | 8.7K | — |
| 2026-05-18 | McCombe William D. | Tax withheld | 3.1K | $3.55 |
| 2026-05-18 | McCombe William D. | Option exercise | 11K | — |
| 2026-05-18 | McCombe William D. | Tax withheld | 3.8K | $3.55 |
| 2026-05-18 | Yan Ming | Option exercise | 4.9K | — |
| 2026-05-18 | Yan Ming | Option exercise | 3.7K | — |
| 2026-05-18 | Yan Ming | Tax withheld | 919 | $3.55 |
| 2026-05-18 | Yan Ming | Option exercise | 4.1K | — |
| 2026-05-18 | Yan Ming | Tax withheld | 1.0K | $3.55 |
| 2026-05-18 | Yan Ming | Option exercise | 9.5K | — |
| 2026-05-18 | Yan Ming | Tax withheld | 2.4K | $3.55 |
| 2026-05-18 | Barnett Valerie | Option exercise | 2.5K | — |
| 2026-05-18 | Barnett Valerie | Tax withheld | 881 | $3.55 |
| 2026-05-18 | Barnett Valerie | Option exercise | 5.2K | — |
| 2026-05-18 | Barnett Valerie | Tax withheld | 1.9K | $3.55 |
| 2026-05-18 | Barnett Valerie | Option exercise | 7.2K | — |
| 2026-05-18 | Barnett Valerie | Tax withheld | 2.6K | $3.55 |
| 2026-05-18 | Barnett Valerie | Option exercise | 9.4K | — |
| 2026-05-18 | Barnett Valerie | Tax withheld | 3.4K | $3.55 |
| 2026-05-18 | Jiang Wenbin | Option exercise | 7.9K | — |
| 2026-05-18 | Jiang Wenbin | Tax withheld | 1.9K | $3.55 |
| 2026-05-18 | Jiang Wenbin | Option exercise | 15K | — |
| 2026-05-18 | Jiang Wenbin | Tax withheld | 3.6K | $3.55 |
| 2026-05-18 | Jiang Wenbin | Option exercise | 19K | — |
| 2026-05-18 | Jiang Wenbin | Tax withheld | 5.0K | $3.55 |
| 2026-05-18 | Jiang Wenbin | Option exercise | 38K | — |
| 2026-05-18 | Jiang Wenbin | Tax withheld | 15K | $3.55 |
| 2026-05-18 | Yan Ming | Tax withheld | 1.2K | $3.55 |
| 2026-05-18 | Busque Philippe | Option exercise | 1.0K | — |
| 2026-05-18 | Busque Philippe | Tax withheld | 263 | $3.55 |
| 2026-05-18 | Busque Philippe | Option exercise | 1.5K | — |
| 2026-05-18 | Busque Philippe | Tax withheld | 378 | $3.55 |
| 2026-05-18 | Holder Michael | Option exercise | 1.5K | — |
| 2026-05-18 | Chin Richard | Option exercise | 6.1K | — |
| 2026-03-13 | Yan Ming | Gift | 1.2M | — |
| 2026-03-10 | Busque Philippe | Option exercise | 2.0K | — |
| 2026-03-10 | Busque Philippe | Tax withheld | 635 | $4.23 |
| 2026-03-10 | Busque Philippe | Option exercise | 2.9K | — |
| 2026-03-10 | Busque Philippe | Tax withheld | 912 | $4.23 |
| 2026-03-10 | Busque Philippe | Option exercise | 4.8K | — |
| 2026-03-10 | Busque Philippe | Tax withheld | 1.5K | $4.23 |
| 2026-03-10 | McCombe William D. | Option exercise | 6.3K | — |
| 2026-03-10 | McCombe William D. | Tax withheld | 2.6K | $4.23 |
| 2026-03-10 | McCombe William D. | Option exercise | 17K | — |
| 2026-03-10 | McCombe William D. | Tax withheld | 7.1K | $4.23 |
| 2026-03-10 | Yan Ming | Option exercise | 9.8K | — |
| 2026-03-10 | Yan Ming | Tax withheld | 3.0K | $4.23 |
| 2026-03-10 | Yan Ming | Option exercise | 7.4K | — |
| 2026-03-10 | Yan Ming | Tax withheld | 2.3K | $4.23 |
| 2026-03-10 | Yan Ming | Option exercise | 8.2K | — |
| 2026-03-10 | Yan Ming | Tax withheld | 2.4K | $4.23 |
| 2026-03-10 | Barnett Valerie | Option exercise | 4.9K | — |
| 2026-03-10 | Barnett Valerie | Tax withheld | 1.8K | $4.23 |
| 2026-03-10 | Barnett Valerie | Option exercise | 10K | — |
| 2026-03-10 | Barnett Valerie | Tax withheld | 4.2K | $4.23 |
| 2026-03-10 | Barnett Valerie | Option exercise | 15K | — |
| 2026-03-10 | Barnett Valerie | Tax withheld | 5.7K | $4.23 |
| 2026-03-10 | Jiang Wenbin | Option exercise | 16K | — |
| 2026-03-10 | Jiang Wenbin | Tax withheld | 3.8K | $4.23 |
| 2026-03-10 | Jiang Wenbin | Option exercise | 29K | — |
| 2026-03-10 | Jiang Wenbin | Tax withheld | 7.7K | $4.23 |
| 2026-03-10 | Jiang Wenbin | Option exercise | 39K | — |
| 2026-03-10 | Jiang Wenbin | Tax withheld | 9.4K | $4.23 |
| 2026-03-10 | Chin Richard | Option exercise | 6.1K | — |
| 2026-03-10 | Holder Michael | Option exercise | 2.9K | — |
| 2026-02-18 | Barnett Valerie | Tax withheld | 525 | $4.20 |
| 2026-02-18 | Yan Ming | Option exercise | 1.3K | — |
| 2026-02-18 | Yan Ming | Tax withheld | 395 | $4.20 |
| 2026-02-18 | Barnett Valerie | Option exercise | 1.3K | — |
| 2026-02-18 | Jiang Wenbin | Tax withheld | 1.3K | $4.20 |
| 2026-02-18 | Jiang Wenbin | Option exercise | 4.5K | — |
| 2025-11-18 | Barnett Valerie | Tax withheld | 3.5K | $5.53 |
| 2025-11-18 | Busque Philippe | Option exercise | 1.5K | — |
| 2025-11-18 | Busque Philippe | Tax withheld | 393 | $5.53 |
| 2025-11-18 | Busque Philippe | Option exercise | 2.2K | — |
| 2025-11-18 | Busque Philippe | Tax withheld | 565 | $5.53 |
| 2025-11-18 | Busque Philippe | Option exercise | 3.6K | — |
| 2025-11-18 | Busque Philippe | Tax withheld | 927 | $5.53 |
| 2025-11-18 | McCombe William D. | Option exercise | 6.3K | — |
| 2025-11-18 | McCombe William D. | Tax withheld | 2.0K | $5.53 |
| 2025-11-18 | McCombe William D. | Option exercise | 13K | — |
| 2025-11-18 | McCombe William D. | Tax withheld | 4.2K | $5.53 |
| 2025-11-18 | Yan Ming | Option exercise | 2.0K | — |
| 2025-11-18 | Yan Ming | Tax withheld | 483 | $5.53 |
| 2025-11-18 | Yan Ming | Option exercise | 7.4K | — |
| 2025-11-18 | Yan Ming | Tax withheld | 1.8K | $5.53 |
| 2025-11-18 | Yan Ming | Option exercise | 5.5K | — |
| 2025-11-18 | Yan Ming | Tax withheld | 1.3K | $5.53 |
| 2025-11-18 | Yan Ming | Option exercise | 6.2K | — |
| 2025-11-18 | Yan Ming | Tax withheld | 1.5K | $5.53 |
| 2025-11-18 | Barnett Valerie | Option exercise | 2.0K | — |
| 2025-11-18 | Barnett Valerie | Tax withheld | 649 | $5.53 |
| 2025-11-18 | Barnett Valerie | Option exercise | 3.7K | — |
| 2025-11-18 | Barnett Valerie | Tax withheld | 1.2K | $5.53 |
| 2025-11-18 | Barnett Valerie | Option exercise | 7.7K | — |
| 2025-11-18 | Barnett Valerie | Tax withheld | 2.5K | $5.53 |
| 2025-11-18 | Barnett Valerie | Option exercise | 11K | — |
| 2025-11-18 | Jiang Wenbin | Option exercise | 6.8K | — |
| 2025-11-18 | Jiang Wenbin | Tax withheld | 2.7K | $5.53 |
| 2025-11-18 | Jiang Wenbin | Option exercise | 12K | — |
| 2025-11-18 | Jiang Wenbin | Tax withheld | 4.6K | $5.53 |
| 2025-11-18 | Jiang Wenbin | Option exercise | 22K | — |
| 2025-11-18 | Jiang Wenbin | Tax withheld | 8.7K | $5.53 |
| 2025-11-18 | Jiang Wenbin | Option exercise | 29K | — |
| 2025-11-18 | Jiang Wenbin | Tax withheld | 11K | $5.53 |
| 2025-11-18 | Holder Michael | Option exercise | 2.2K | — |
| 2025-11-18 | Chin Richard | Option exercise | 6.1K | — |
| 2025-08-18 | Yan Ming | Option exercise | 2.0K | — |
| 2025-08-18 | Yan Ming | Tax withheld | 588 | $4.06 |
| 2025-08-18 | Yan Ming | Option exercise | 7.4K | — |
| 2025-08-18 | Yan Ming | Tax withheld | 2.2K | $4.06 |
| 2025-08-18 | Yan Ming | Option exercise | 5.5K | — |
| 2025-08-18 | Yan Ming | Tax withheld | 1.5K | $4.06 |
| 2025-08-18 | Yan Ming | Option exercise | 6.2K | — |
| 2025-08-18 | Yan Ming | Tax withheld | 1.5K | $4.06 |
| 2025-08-18 | Busque Philippe | Option exercise | 1.5K | — |
| 2025-08-18 | Busque Philippe | Tax withheld | 599 | $4.06 |
| 2025-08-18 | Busque Philippe | Option exercise | 2.2K | — |
| 2025-08-18 | Busque Philippe | Tax withheld | 861 | $4.06 |
| 2025-08-18 | Busque Philippe | Option exercise | 3.6K | — |
| 2025-08-18 | Busque Philippe | Tax withheld | 1.4K | $4.06 |
| 2025-08-18 | Barnett Valerie | Option exercise | 2.0K | — |
| 2025-08-18 | Barnett Valerie | Tax withheld | 786 | $4.06 |
| 2025-08-18 | Barnett Valerie | Option exercise | 3.7K | — |
| 2025-08-18 | Barnett Valerie | Tax withheld | 1.4K | $4.06 |
| 2025-08-18 | Barnett Valerie | Option exercise | 7.7K | — |
| 2025-08-18 | Barnett Valerie | Tax withheld | 3.0K | $4.06 |
| 2025-08-18 | Chin Richard | Option exercise | 4.1K | — |
| 2025-08-18 | Barnett Valerie | Option exercise | 11K | — |
| 2025-08-18 | Barnett Valerie | Tax withheld | 3.6K | $4.06 |
| 2025-08-18 | Jiang Wenbin | Option exercise | 6.8K | — |
| 2025-08-18 | Jiang Wenbin | Tax withheld | 1.6K | $4.06 |
| 2025-08-18 | Jiang Wenbin | Option exercise | 12K | — |
| 2025-08-18 | Jiang Wenbin | Tax withheld | 2.9K | $4.06 |
| 2025-08-18 | Jiang Wenbin | Option exercise | 22K | — |
| 2025-08-18 | Jiang Wenbin | Tax withheld | 5.4K | $4.06 |
| 2025-08-18 | Jiang Wenbin | Option exercise | 29K | — |
| 2025-08-18 | Jiang Wenbin | Tax withheld | 7.1K | $4.06 |
| 2025-08-18 | McCombe William D. | Option exercise | 6.3K | — |
| 2025-08-18 | McCombe William D. | Tax withheld | 2.5K | $4.06 |
| 2025-08-18 | McCombe William D. | Option exercise | 13K | — |
| 2025-08-18 | McCombe William D. | Tax withheld | 5.1K | $4.06 |
| 2025-08-18 | Holder Michael | Option exercise | 2.2K | — |
| 2025-06-05 | Imper Vera | Option exercise | 16K | — |
| 2025-06-05 | HARDISON DON M | Option exercise | 16K | — |
| 2025-06-05 | Ball Jack | Option exercise | 16K | — |
| 2025-06-05 | NEFF DEBORAH J | Option exercise | 16K | — |
| 2025-06-02 | McCombe William D. | Buy | 35K | $2.78 |
| 2025-05-19 | Busque Philippe | Option exercise | 1.0K | — |
| 2025-05-19 | McCombe William D. | Option exercise | 25K | — |
| 2025-05-19 | McCombe William D. | Tax withheld | 9.8K | $2.69 |
| 2025-05-19 | McCombe William D. | Option exercise | 8.7K | — |
| 2025-05-19 | McCombe William D. | Tax withheld | 3.4K | $2.69 |
| 2025-05-19 | Jiang Wenbin | Option exercise | 6.8K | — |
| 2025-05-19 | Jiang Wenbin | Tax withheld | 1.6K | $2.69 |
| 2025-05-19 | Jiang Wenbin | Option exercise | 7.9K | — |
| 2025-05-19 | Jiang Wenbin | Tax withheld | 1.9K | $2.69 |
| 2025-05-19 | Jiang Wenbin | Option exercise | 15K | — |
| 2025-05-19 | Jiang Wenbin | Tax withheld | 3.6K | $2.69 |
| 2025-05-19 | Jiang Wenbin | Option exercise | 19K | — |
| 2025-05-19 | Jiang Wenbin | Tax withheld | 4.7K | $2.69 |
| 2025-05-19 | Barnett Valerie | Option exercise | 2.0K | — |
| 2025-05-19 | Barnett Valerie | Tax withheld | 786 | $2.69 |
| 2025-05-19 | Barnett Valerie | Option exercise | 2.5K | — |
| 2025-05-19 | Barnett Valerie | Tax withheld | 956 | $2.69 |
| 2025-05-19 | Barnett Valerie | Option exercise | 5.2K | — |
| 2025-05-19 | Barnett Valerie | Tax withheld | 2.0K | $2.69 |
| 2025-05-19 | Barnett Valerie | Option exercise | 7.2K | — |
| 2025-05-19 | Barnett Valerie | Tax withheld | 2.8K | $2.69 |
| 2025-05-19 | Busque Philippe | Tax withheld | 399 | $2.69 |
| 2025-05-19 | Busque Philippe | Option exercise | 1.5K | — |
| 2025-05-19 | Busque Philippe | Tax withheld | 574 | $2.69 |
| 2025-05-19 | Busque Philippe | Option exercise | 2.4K | — |
| 2025-05-19 | Busque Philippe | Tax withheld | 942 | $2.69 |
| 2025-05-19 | Yan Ming | Option exercise | 2.0K | — |
| 2025-05-19 | Yan Ming | Tax withheld | 588 | $2.69 |
| 2025-05-19 | Yan Ming | Option exercise | 4.9K | — |
| 2025-05-19 | Yan Ming | Tax withheld | 1.5K | $2.69 |
| 2025-05-19 | Yan Ming | Option exercise | 3.7K | — |
| 2025-05-19 | Yan Ming | Tax withheld | 1.1K | $2.69 |
| 2025-05-19 | Yan Ming | Option exercise | 4.1K | — |
| 2025-05-19 | Yan Ming | Tax withheld | 1.2K | $2.69 |
| 2025-05-19 | Holder Michael | Option exercise | 1.5K | — |
| 2025-03-10 | Barnett Valerie | Option exercise | 4.9K | — |
| 2025-03-10 | Barnett Valerie | Tax withheld | 1.9K | $4.36 |
| 2025-03-10 | Barnett Valerie | Option exercise | 10K | — |
| 2025-03-10 | Barnett Valerie | Tax withheld | 4.0K | $4.36 |
| 2025-03-10 | Busque Philippe | Option exercise | 2.0K | — |
| 2025-03-10 | Busque Philippe | Tax withheld | 799 | $4.36 |
| 2025-03-10 | Busque Philippe | Option exercise | 2.9K | — |
| 2025-03-10 | Busque Philippe | Tax withheld | 1.1K | $4.36 |
| 2025-03-10 | Jiang Wenbin | Option exercise | 16K | — |
| 2025-03-10 | Jiang Wenbin | Tax withheld | 4.7K | $4.36 |
| 2025-03-10 | Jiang Wenbin | Option exercise | 29K | — |
| 2025-03-10 | Jiang Wenbin | Tax withheld | 8.0K | $4.36 |
| 2025-03-10 | Yan Ming | Option exercise | 9.8K | — |
| 2025-03-10 | Yan Ming | Tax withheld | 2.9K | $4.36 |
| 2025-03-10 | Yan Ming | Option exercise | 7.4K | — |
| 2025-03-10 | Yan Ming | Tax withheld | 2.2K | $4.36 |
| 2025-03-10 | Holder Michael | Option exercise | 2.9K | — |
| 2025-02-18 | Jiang Wenbin | Option exercise | 6.8K | — |
| 2025-02-18 | Barnett Valerie | Option exercise | 2.0K | — |
| 2025-02-18 | Jiang Wenbin | Tax withheld | 2.0K | $5.31 |
| 2025-02-18 | Barnett Valerie | Tax withheld | 786 | $5.31 |
| 2025-02-18 | Yan Ming | Option exercise | 2.0K | — |
| 2025-02-18 | Yan Ming | Tax withheld | 588 | $5.31 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-25 | 2026-06-18 | 0001193125-26-282871 ↗ |
| 8-K | 2026-06-16 | 2026-06-10 | 0001193125-26-272582 ↗ |
| 8-K | 2026-06-02 | 2026-05-27 | 0001193125-26-253538 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001628280-26-032293 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001193125-26-211948 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001193125-26-076768 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001628280-26-012352 ↗ |
| 8-K | 2026-01-13 | 2026-01-12 | 0001193125-26-011748 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001193125-25-266973 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0001628280-25-049697 ↗ |
| 8-K | 2025-08-06 | 2025-08-06 | 0001193125-25-174459 ↗ |
| 10-Q | 2025-08-06 | 2025-06-30 | 0001628280-25-038422 ↗ |