Cytek Biosciences Inc (CTKB)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022
Gross profit (ttm)	US$ in thousands	109,426	105,752	105,436	101,835	100,974	95,236	89,651	84,835
Revenue (ttm)	US$ in thousands	193,014	183,117	175,594	166,060	164,036	155,086	148,985	139,234
Gross profit margin		56.69%	57.75%	60.05%	61.32%	61.56%	61.41%	60.17%	60.93%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $109,426K ÷ $193,014K
= 56.69%

The gross profit margin of Cytek Biosciences Inc has exhibited a declining trend over the past eight quarters, with a decrease from 61.56% in Q4 2022 to 56.69% in Q4 2023. This suggests that the company's ability to generate profit from its core operations has weakened over time. The downward trajectory in gross profit margin may indicate challenges in managing production costs, pricing pressures, or inefficiencies in the manufacturing process. It is essential for Cytek Biosciences to closely monitor and address the factors contributing to this decline in order to enhance profitability and sustain long-term financial health.