Cytek Biosciences Inc (CTKB)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | -15,709 | 1,260 | 5,938 |
| Revenue | US$ in thousands | 193,015 | 2,963 | 2,181 |
| Pretax margin | -8.14% | 42.52% | 272.26% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $-15,709K ÷ $193,015K
= -8.14%
The pretax margin of Cytek Biosciences Inc has experienced substantial fluctuations over the past three years. In 2021, the company achieved an exceptionally high pretax margin of 272.26%, indicating strong profitability before accounting for taxes. However, this margin dropped significantly to 42.52% in 2022, signaling a sharp decrease in profitability.
The trend reversed drastically in 2023, with the pretax margin turning negative at -8.14%, suggesting that the company incurred losses before tax expenses during the year. This negative pretax margin indicates that Cytek Biosciences Inc faced challenges in generating profits, possibly due to increased costs, lower revenue, or other operational issues.
The significant fluctuations in the pretax margin of Cytek Biosciences Inc raise concerns about the company's financial stability and performance. Investors and stakeholders may need further insights into the reasons behind these fluctuations to assess the company's current financial health and prospects for future profitability.
Peer comparison
Dec 31, 2023