Cytek Biosciences Inc (CTKB)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Net income | US$ in thousands | -12,148 | 2,484 | 3,027 |
| Revenue | US$ in thousands | 193,015 | 2,963 | 2,181 |
| Net profit margin | -6.29% | 83.83% | 138.79% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $-12,148K ÷ $193,015K
= -6.29%
Net profit margin is a key financial ratio that reveals the percentage of a company's revenue that translates into profit after accounting for all expenses. In the case of Cytek Biosciences Inc, the net profit margin has displayed significant fluctuations over the past three years.
In 2021, Cytek Biosciences Inc achieved an impressive net profit margin of 138.79%, indicating that the company was able to convert a large portion of its revenue into profit. This suggests efficient cost management and strong revenue generation during that period.
However, the net profit margin dropped drastically to 83.83% in 2022, reflecting a significant decrease compared to the previous year. This decline might be attributed to increased expenses or lower revenue generation, impacting the company's profitability.
The situation worsened in 2023, with Cytek Biosciences Inc reporting a negative net profit margin of -6.29%. This indicates that the company incurred more expenses than its revenue could cover, resulting in a net loss for the period. It raises concerns about the company's operational efficiency and financial health during that year.
Overall, the fluctuating trend in Cytek Biosciences Inc's net profit margin calls for a closer examination of its financial performance, cost structure, and revenue streams to identify underlying causes and implement strategies for sustained profitability in the future.
Peer comparison
Dec 31, 2023