Cytek Biosciences Inc (CTKB)

Gross profit margin

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Gross profit	US$ in thousands	111,106	109,426	100,974	79,144	51,710
Revenue	US$ in thousands	200,453	193,015	164,036	127,950	92,839
Gross profit margin		55.43%	56.69%	61.56%	61.86%	55.70%

December 31, 2024 calculation

Gross profit margin = Gross profit ÷ Revenue
= $111,106K ÷ $200,453K
= 55.43%

The gross profit margin of Cytek Biosciences Inc has shown some fluctuations over the past five years.

In December 31, 2020, the gross profit margin was at 55.70%, indicating that the company retained 55.70% of its revenue after accounting for the cost of goods sold.

The margin improved significantly in December 31, 2021, reaching 61.86%, suggesting that the company became more efficient in managing its production costs and generating higher profits per dollar of sales.

Although there was a slight decrease in the margin in December 31, 2022 to 61.56%, it still remained relatively high, indicating strong profitability in the operations of Cytek Biosciences Inc.

However, in December 31, 2023 and December 31, 2024, the gross profit margin declined to 56.69% and 55.43% respectively. This could be attributed to various factors such as increased competition, higher production costs, or changes in pricing strategies.

Overall, despite some fluctuations, Cytek Biosciences Inc has maintained a reasonably healthy gross profit margin over the years, which is a positive indicator of the company's ability to efficiently manage its production costs and generate profits from its core operations.