Cytek Biosciences Inc reports results for the quarter ended March 31 - Earnings Summary

• Cytek Biosciences Inc CTKB.OQ reported a quarterly adjusted loss of 9 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of -5 cents. The mean expectation of five analysts for the quarter was for a loss of 4 cents per share. Wall Street expected results to range from -5 cents to -3 cents per share.

• Revenue fell 7.6% to $41.46 million from a year ago; analysts expected $42.66 million.

• Cytek Biosciences Inc's reported EPS for the quarter was a loss of 9 cents​.

• The company reported a quarterly loss of $11.4 million.

• Cytek Biosciences Inc shares had fallen by 7.0% this quarter and lost 42.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 28.6% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy," 2 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the advanced medical equipment & technology peer group is "hold."

• Wall Street's median 12-month price target for Cytek Biosciences Inc is $7.00

This summary was machine generated from LSEG data May 8 at 09:02 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)