Cytek Biosciences Inc reports results for the quarter ended June 30 - Earnings Summary

• Cytek Biosciences Inc CTKB.OQ reported a quarterly adjusted loss of 4 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -8 cents. The mean expectation of five analysts for the quarter was for a loss of 7 cents per share. Wall Street expected results to range from -10 cents to -3 cents per share.

• Revenue fell 2.2% to $45.60 million from a year ago; analysts expected $46.34 million.

• Cytek Biosciences Inc's reported EPS for the quarter was a loss of 4 cents​.

• The company reported a quarterly loss of $5.58 million.

• Cytek Biosciences Inc shares had risen by 14.1% this quarter and lost 40.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 100% 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 2 "strong buy" or "buy," 3 "hold" and no "sell" or "strong sell." The average consensus recommendation for the advanced medical equipment & technology peer group is also "buy"

• Wall Street's median 12-month price target for Cytek Biosciences Inc is $5.50, about 29.3% above its last closing price of $3.89

This summary was machine generated from LSEG data August 6 at 10:27 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)