Cytek Biosciences’ recurring revenue is becoming a larger part of its business as its global installed base approaches 4,000 instruments and the company expands its service and reagent offerings alongside new cell-analysis platforms.
Recurring revenue, consisting of service and reagent sales, reached $18.5 million during Q2. On a trailing 12-month basis, recurring revenue represented 35% of total revenue, up from 32% a year earlier.
Cytek’s installed base reached 3,933 instruments at the end of Q2 after the company added 142 systems during the quarter. Management said instrument revenue grew at strong double-digit rates in both the U.S. and China, while service revenue continued to expand.
The company is also broadening its instrument portfolio. Cytek launched Borealis, a seven-laser full-spectrum flow cytometer paired with proprietary reagents designed to enable high-resolution 60-color panels.
Cytek separately introduced new Aurora Evo instrument configurations with expanded automation capabilities for laboratories operating increasingly automated workflows.
Q2 revenue increased 6% to $48.1 million. Product revenue was $32.6 million and service revenue reached $15.6 million.
GAAP gross profit increased 19% to $28.3 million, while gross margin increased to 59% from 52%. However, the quarter included a one-time tariff refund. Excluding that benefit, GAAP gross margin would have been 53%, while adjusted gross margin would have been 56%.
Cytek ended Q2 with $262 million of cash, cash equivalents and marketable securities. The company raised the midpoint of its 2026 revenue outlook by $1 million and now expects full-year revenue of $207 million to $212 million.
KEY QUOTES:
“Our second quarter results reflect continued execution against our strategic priorities, exemplified by strong double-digit revenue growth in instruments in the U.S. and in China and ongoing and consistent expansion of our service business.”
“Looking ahead, our priorities remain clear: accelerating adoption of our instrument platforms, including newly launched instruments, expanding recurring revenue business and extending our technology leadership.”
Wenbin Jiang, CEO Of Cytek Biosciences
