Cytek Biosciences Sees FY23 Revenue $188M-$192M Vs $206.59M Est.
Portfolio Pulse from Benzinga Newsdesk
Cytek Biosciences has projected its FY23 total revenue to be between $188 million and $192 million, indicating a growth of 15% to 17% over FY22. The forecast includes flat organic business revenue compared to 2022 and inorganic revenue of $25 million to $30 million from the recently acquired Luminex flow cytometry and imaging business.
November 08, 2023 | 1:33 am
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Cytek Biosciences' FY23 revenue forecast is lower than estimates, but the company expects growth driven by the acquisition of Luminex. Organic business revenue is expected to remain flat.
Cytek Biosciences' FY23 revenue forecast is lower than the estimated $206.59 million, which could negatively impact investor sentiment. However, the company expects growth from the recently acquired Luminex business, which could offset the lower-than-expected organic business revenue. Therefore, the short-term impact on the stock price is neutral.
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