0001628280-24-010933 | 10-K | XBRL Viewer

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Net (Loss) Income Attributable to Common Stockholders Per Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	9.0	3.5	2.3

Investments (Tables)

12 Months Ended

Dec. 31, 2023

Investments [Abstract]

Schedule of Available for Sale Securities

The following tables summarize the Company's investments in available-for-sale securities by significant investment category reported as short-term as of December 31, 2023 (in thousands):


	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss		Estimated Fair Value
Marketable securities:
U.S. Treasury	$	47,347	$	19	$	—	$	47,366
Federal agency securities	35,840		—		(22)		35,818
Commercial paper	11,937		—		(10)		11,927
Total available-for-sale investments	$	95,124	$	19	$	(32)	$	95,111

The following tables summarize the Company's investments in available-for-sale securities by significant investment category reported as short-term as of December 31, 2022 (in thousands):


	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss		Estimated Fair Value
Marketable securities:
U.S. Treasury	9,783		3		—		9,786
Federal agency securities	11,613		15		(1)		11,627
Commercial paper	23,136		—		—		23,136
Total available-for-sale investments	$	44,532	$	18	$	(1)	$	44,549

Schedule of the Contractual Maturities for Available Sale Securities

The following table summarizes the contractual maturities of the Company's available-for-sale securities at December 31, 2023 (in thousands):


	December 31, 2023
	Amortized Cost		Fair Value
Mature in less than one year	$	95,124	$	95,111
Total	$	95,124	$	95,111

The following table summarizes the contractual maturities of the Company's available-for-sale securities at December 31, 2022 (in thousands):


	December 31, 2022
	Amortized Cost		Fair Value
Mature in less than one year	44,532		44,549
Total	$	44,532	$	44,549

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 9
-Subparagraph (a)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Employee Benefit Plan - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Employer contribution	$ 1,678,000	$ 1,045,000	$ 770,000

Acquisition - Schedule of Identifiable Intangible Assets Acquired and Their Estimated Useful Lives for Amortization (Details) - Luminex Corporation $ in Thousands	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Fair Value	$ 21,750
Customer relationship
Business Acquisition [Line Items]
Fair Value	$ 8,600
Estimated Useful Lives	9 years
Amnis ImageStream developed technology
Business Acquisition [Line Items]
Fair Value	$ 10,000
Estimated Useful Lives	6 years
Guava easyCyte and Muse developed technology
Business Acquisition [Line Items]
Fair Value	$ 140
Estimated Useful Lives	2 years
Amnis FlowSight and CellStream developed technology
Business Acquisition [Line Items]
Fair Value	$ 20
Estimated Useful Lives	1 year
Amnis trade name
Business Acquisition [Line Items]
Fair Value	$ 2,900
Estimated Useful Lives	15 years
Guava trade name
Business Acquisition [Line Items]
Fair Value	$ 90
Estimated Useful Lives	3 years

Consolidated Statements of Operations and Comprehensive (loss) Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue, net:
Total revenue, net	$ 193,015	$ 164,036	$ 127,950
Cost of sales:
Total cost of sales	83,589	63,062	48,806
Gross profit	109,426	100,974	79,144
Operating expenses:
Research and development	44,151	34,858	24,442
Sales and marketing	49,148	33,230	24,710
General and administrative	43,972	34,690	20,835
Total operating expenses	137,271	102,778	69,987
Income (loss) from operations	(27,845)	(1,804)	9,157
Other income (expense):
Interest expense	(2,071)	(2,573)	(1,741)
Interest income	6,413	4,619	49
Other income (expense), net	7,794	1,018	(1,527)
Total other income (expense), net	12,136	3,064	(3,219)
(Loss) income before income taxes	(15,709)	1,260	5,938
Provision for (benefit from) income taxes	(3,561)	(1,224)	2,911
Net (loss) income	(12,148)	2,484	3,027
Less: net loss (income) allocated to noncontrolling interests	0	92	(26)
Less: net income allocated to participating securities	0	0	(3,001)
Net income attributable to common stockholders, basic	(12,148)	2,576	0
Net income attributable to common stockholders, diluted	$ (12,148)	$ 2,576	$ 0
Net income attributable to common stockholders per share, basic (in dollars per share)	$ (0.09)	$ 0.02	$ 0
Net income attributable to common stockholders per share, diluted (in dollars per share)	$ (0.09)	$ 0.02	$ 0
Weighted-average shares used in calculating net income per share, basic (in shares)	135,283,044	134,510,831	76,741,858
Weighted-average shares used in calculating net income per share, diluted (in shares)	135,283,044	138,562,111	81,542,729
Comprehensive (loss) income:
Net (loss) income	$ (12,148)	$ 2,484	$ 3,027
Foreign currency translation adjustment, net of tax	(549)	(1,611)	832
Unrealized (loss) gain on marketable securities	(29)	17	0
Net comprehensive (loss) income	(12,726)	890	3,859
Product
Revenue, net:
Total revenue, net	156,717	148,600	119,519
Cost of sales:
Total cost of sales	65,327	49,955	37,377
Service
Revenue, net:
Total revenue, net	36,298	15,436	8,431
Cost of sales:
Total cost of sales	$ 18,262	$ 13,107	$ 11,429

Investments

12 Months Ended

Dec. 31, 2023

Investments [Abstract]

Investments

The following tables summarize the Company's investments in available-for-sale securities by significant investment category reported as short-term as of December 31, 2023 (in thousands):


	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss		Estimated Fair Value
Marketable securities:
U.S. Treasury	$	47,347	$	19	$	—	$	47,366
Federal agency securities	35,840		—		(22)		35,818
Commercial paper	11,937		—		(10)		11,927
Total available-for-sale investments	$	95,124	$	19	$	(32)	$	95,111

The following table summarizes the contractual maturities of the Company's available-for-sale securities at December 31, 2023 (in thousands):


	December 31, 2023
	Amortized Cost		Fair Value
Mature in less than one year	$	95,124	$	95,111
Total	$	95,124	$	95,111

The following tables summarize the Company's investments in available-for-sale securities by significant investment category reported as short-term as of December 31, 2022 (in thousands):


	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss		Estimated Fair Value
Marketable securities:
U.S. Treasury	9,783		3		—		9,786
Federal agency securities	11,613		15		(1)		11,627
Commercial paper	23,136		—		—		23,136
Total available-for-sale investments	$	44,532	$	18	$	(1)	$	44,549

The following table summarizes the contractual maturities of the Company's available-for-sale securities at December 31, 2022 (in thousands):


	December 31, 2022
	Amortized Cost		Fair Value
Mature in less than one year	44,532		44,549
Total	$	44,532	$	44,549

Stock-Based Compensation Plan - Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumption (Details) - ESPP	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 months	6 months	6 months
Expected volatility	67.00%	77.00%	75.00%
Risk-free interest rate	5.00%	3.00%	1.00%
Dividend yield	0.00%	0.00%	0.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits	$ 3,635	$ 2,235	$ 1,321	$ 737
Unrecognized tax benefits that would impact effective tax rate	3,400	2,000	$ 1,100
State
Operating Loss Carryforwards [Line Items]
Operating Loss carryforwards	0	0
Tax credit carryforward, amount	3,100	1,800
Foreign
Operating Loss Carryforwards [Line Items]
Tax credit, foreign	$ 900	$ 500

Lease - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$ 3,274	$ 2,332
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$ 178	$ 16,852

Stock-Based Compensation Plan - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 22,048	$ 16,595	$ 6,586
Cost of sales
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	3,212	2,855	1,508
Research and development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	6,676	5,035	1,877
Sales and marketing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	4,290	3,419	1,375
General and administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 7,870	$ 5,286	$ 1,826

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income	$ (12,148)	$ 2,484	$ 3,027

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Income Taxes - Schedule of Unrecognized Tax Benefits Roll Forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits as of the beginning of the year	$ 2,235	$ 1,321	$ 737
Increases related to prior year tax provisions	217	298	65
Increase related to current year tax provisions	1,183	616	519
Unrecognized tax benefits as of the end of the year	$ 3,635	$ 2,235	$ 1,321

Balance Sheet Details - Schedule of Components of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Raw materials	$ 35,718	$ 26,925
Work in progress	10,454	4,897
Finished goods	14,705	16,332
Total inventories	$ 60,877	$ 48,154

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The geographical breakdown of the Company’s income (loss) before provision for (benefit from) income taxes is as follows (in thousands):


	2023		2022		2021
Domestic	$	(16,899)	$	(1,347)	$	(1,870)
International	1,190		2,607		7,808
(Loss) income before income taxes	$	(15,709)	$	1,260	$	5,938

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense attributable to income from continuing operations consists of (in thousands):


	2023		2022		2021
Current provisions for income taxes:
Federal	$	4,142	$	7,280	$	3,666
State	798		1,339		440
Foreign	1,528		1,442		601
Total current	$	6,468	$	10,061	$	4,707

Deferred tax expense (benefit):
Federal	$	(8,777)	$	(9,164)	$	(2,529)
State	(1,170)		(1,910)		(579)
Foreign	(82)		(211)		1,312
Total deferred tax expense (benefit)	$	(10,029)	$	(11,285)	$	(1,796)

Total provision for (benefit from) income taxes	$	(3,561)	$	(1,224)	$	2,911

Schedule of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation of the federal statutory rate to the Company’s effective tax rate:


	2023		2022		2021
U.S. federal tax benefit at statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	3.4		(60.0)		(3.9)
Foreign income taxed at different rates	(0.9)		(37.9)		(9.6)
Foreign-derived intangible income deduction	9.1		(39.2)		(3.9)
Research and development credits	12.9		(146.4)		(6.6)
Tax impact of foreign earnings and losses	(1.4)		89.4		7.8
Subpart F	(5.3)		67.2		23.1
Share-based compensation	(12.2)		7.1		21.7
Other permanent adjustments	(0.8)		1.9		1.0
Prior year true up due to tax rate change	1.6		(47.1)		(0.6)
Change in valuation allowance, net	(6.5)		60.6		1.1
162M compensation	(0.7)		4.4		—
Foreign tax credit	2.1		(19.6)		—
Other	0.4		1.5		(2.2)
Effective tax rate	22.7	%	(97.1)	%	48.9	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences and carryforwards that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2023 and 2022 are presented below (in thousands):


	2023		2022
Deferred tax assets
Net operating loss carryforwards	$	1,414	$	755
Foreign tax credit carryforward	854		492
Research and development credit carryforward	1,647		904
Stock based compensation	3,171		1,578
Legal settlement	4,458		4,050
Deferred revenue	6,061		4,415
Research and development capitalization	10,135		4,948
Inventory reserve	1,760		881
Accrued bonus	1,292		1,236
Lease liability	2,631		3,388
Other accruals	2,544		3,108
Gross deferred tax assets	35,967		25,755
Valuation allowance	(2,268)		(1,248)
Net deferred tax assets	$	33,699	$	24,507

Deferred tax liabilities
ROU assets	$	(2,392)	$	(3,053)
Depreciation and amortization	(820)		(995)
Net deferred tax liabilities	$	(3,212)	$	(4,048)

Net deferred tax assets (liabilities)	$	30,487	$	20,459

Schedule of Unrecognized Tax Benefits Roll Forward

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands):


	2023		2022		2021
Unrecognized tax benefits as of the beginning of the year	$	2,235	$	1,321	$	737
Increases related to prior year tax provisions	217		298		65
Increase related to current year tax provisions	1,183		616		519
Unrecognized tax benefits as of the end of the year	$	3,635	$	2,235	$	1,321

Basis of Presentation and Summary of Significant Accounting Policies - Summary of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash	$ 22,407	$ 123,371
U.S. Treasury	0	29,930
Federal agency securities	0	19,908
Commercial paper		5,955
Money market funds	144,892	117,437
Restricted cash	331	2,899
Total cash, cash equivalents and restricted cash as presented on the consolidated statements of cash flows	$ 167,630	$ 299,500	$ 364,618	$ 166,119

- Definition

Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.

+ References + Details

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
U.S. federal tax benefit at statutory rate	21.00%	21.00%	21.00%
State income taxes, net of federal benefit	3.40%	(60.00%)	(3.90%)
Foreign income taxed at different rates	(0.90%)	(37.90%)	(9.60%)
Foreign-derived intangible income deduction	9.10%	(39.20%)	(3.90%)
Research and development credits	12.90%	(146.40%)	(6.60%)
Tax impact of foreign earnings and losses	(1.40%)	89.40%	7.80%
Subpart F	(5.30%)	67.20%	23.10%
Share-based compensation	(12.20%)	7.10%	21.70%
Other permanent adjustments	(0.80%)	1.90%	1.00%
Prior year true up due to tax rate change	1.60%	(47.10%)	(0.60%)
Change in valuation allowance, net	(6.50%)	60.60%	1.10%
162M compensation	(0.70%)	4.40%	0.00%
Foreign tax credit	2.10%	(19.60%)	0.00%
Other	0.40%	1.50%	(2.20%)
Effective tax rate	22.70%	(97.10%)	48.90%

Related Party Transactions - Additional Information (Details) $ in Millions	May 07, 2022 USD ($)
DeepCyto \| Series A Preferred Stock
Related Party Transaction [Line Items]
Ownership interest	3.30%
Hong Kong subsidiary (Cytek HK)
Related Party Transaction [Line Items]
Other investments and securities, at cost	$ 1.6

Revenue from Contracts with Customers - Schedule of Estimated Revenues expected to Be Recognized In The Future Related To Performance Obligations (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Disaggregation Of Revenue [Line Items]
Total revenue	$ 37,827
Less than 1 year
Disaggregation Of Revenue [Line Items]
Total revenue	22,695
Greater than 1 year
Disaggregation Of Revenue [Line Items]
Total revenue	15,132
Product
Disaggregation Of Revenue [Line Items]
Total revenue	1,336
Product \| Less than 1 year
Disaggregation Of Revenue [Line Items]
Total revenue	1,336
Product \| Greater than 1 year
Disaggregation Of Revenue [Line Items]
Total revenue	0
Service
Disaggregation Of Revenue [Line Items]
Total revenue	36,491
Service \| Less than 1 year
Disaggregation Of Revenue [Line Items]
Total revenue	21,359
Service \| Greater than 1 year
Disaggregation Of Revenue [Line Items]
Total revenue	$ 15,132

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Lease - Additional Information (Details)	12 Months Ended
Lease - Additional Information (Details)	Dec. 31, 2023 USD ($) plan
Lessee, Lease, Description [Line Items]
Sublease income \| $	$ 272,000
Office Facilities and Equipment
Lessee, Lease, Description [Line Items]
Leases term under operating lease agreements	3 years
Number of option for lease renewal \| plan	1
Lessee, operating lease, renewal term	5 years
Minimum \| Office Facilities and Equipment
Lessee, Lease, Description [Line Items]
Leases term under operating lease agreements	1 year
Maximum \| Office Facilities and Equipment
Lessee, Lease, Description [Line Items]
Leases term under operating lease agreements	7 years 3 months

Acquisition - Business Acquisition, Pro Forma Information (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Revenue	$ 58,605	$ 48,336	$ 197,964	$ 193,810
Income (loss) before income taxes	5,226	4,114	(13,954)	(2,990)
Net income (loss)	$ 6,357	$ 3,718	$ (10,813)	$ (753)

Net (Loss) Income Attributable to Common Stockholders Per Share - Schedule of Computation of the Basic and Diluted Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator
Net (loss) income	$ (12,148)	$ 2,484	$ 3,027
Less: net loss (income) allocated to noncontrolling interests	0	92	(26)
Less: net income allocated to participating securities	0	0	(3,001)
Net income (loss)	(12,148)	2,576	0
Net income attributable to common stockholders, diluted	$ (12,148)	$ 2,576	$ 0
Denominator
Weighted-average common shares outstanding, attributable to common stockholders, basic (in shares)	135,283,044	134,510,831	76,741,858
Effect of employee stock plans (in shares)	0	4,051,280	4,800,871
Weighted-average common shares outstanding, attributable to common stockholders, diluted (in shares)	135,283,044	138,562,111	81,542,729
Net income attributable to common stockholders per share, basic (in dollars per share)	$ (0.09)	$ 0.02	$ 0
Net income attributable to common stockholders per share, diluted (in dollars per share)	$ (0.09)	$ 0.02	$ 0

Lease - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022
Supplemental disclosure of cash flow information:
Operating lease right-of-use assets	$ 10,853	$ 13,883	$ 14,600
Included in other current liabilities:
Operating lease liability, current	2,444	2,931
Operating lease liability, noncurrent	9,479	12,312
Total operating lease liabilities	$ 11,923	$ 15,243	$ 15,200
Weighted-average remaining lease term - operating leases:	4 years 8 months 4 days	5 years 5 months 19 days
Weighted-average discount rate - operating leases:	2.70%	2.60%

Balance Sheet Details (Tables)

12 Months Ended

Dec. 31, 2023

Balance Sheet Related Disclosures [Abstract]

Schedule of Components of Inventory

The following table shows the components of inventory (in thousands):


	December 31, 2023		December 31, 2022
Raw materials	$	35,718	$	26,925
Work in progress	10,454		4,897
Finished goods	14,705		16,332
Total inventories	$	60,877	$	48,154

Schedule of Components of Prepaid Expenses and Other Current Assets

The following table shows the components of prepaid expenses and other current assets (in thousands):


	December 31, 2023		December 31, 2022
Prepaid expenses:
Prepaid inventory	$	292	$	621
Prepaid rent	255		293
Prepaid insurance	990		1,466
Prepaid income tax	5,813		2,080
Other	2,742		2,687
Other current assets:
Tax refund receivable	192		2,011
Other	2,230		3,796
Total prepaid expenses and other current assets	$	12,514	$	12,954

Schedule of Components of Accrued Expenses

The following table shows the components of accrued expenses (in thousands):


	December 31, 2023		December 31, 2022
Accrued expenses:
Accrued compensation and related benefits	$	13,748	$	13,911
Professional service fees	665		1,276
Purchases	1,871		2,457
Product warranty	2,805		2,126
Other	946		1,356
Total accrued expenses	$	20,035	$	21,126

Schedule of Components of Other Current Liabilities

The following table shows the components of other current liabilities (in thousands):


	December 31, 2023		December 31, 2022
Other current liabilities:
Customer deposits	$	1,438	$	1,555
Income tax payable	1,297		246
Sales and use tax payable	1,763		1,421
Operating lease liability, current	2,444		2,931
Current portion of loan	565		580
Other	396		1,227
Total other current liabilities	$	7,903	$	7,960

Balance Sheet Details - Summary of Components of Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Accrued compensation and related benefits	$ 13,748	$ 13,911
Professional service fees	665	1,276
Purchases	1,871	2,457
Product warranty	2,805	2,126
Other	946	1,356
Total accrued expenses	$ 20,035	$ 21,126

Revenue from Contracts with Customers - Schedule of Rollforward of The Current Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Contract Liabilities [Roll Forward]
Balance	$ 27,665	$ 17,889	$ 7,745
Revenue recognized	(36,298)	(24,686)	(15,008)
Revenue deferred	47,898	34,462	25,152
Balance	$ 39,265	$ 27,665	$ 17,889

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Finite-Lived Intangible Assets (Details)	Dec. 31, 2023
Patent
Accounting Policies [Line Items]
Estimated Useful Lives	20 years
Trademarks
Accounting Policies [Line Items]
Estimated Useful Lives	10 years
Trade name \| Minimum
Accounting Policies [Line Items]
Estimated Useful Lives	3 years
Trade name \| Maximum
Accounting Policies [Line Items]
Estimated Useful Lives	15 years
FCI developed technology \| Minimum
Accounting Policies [Line Items]
Estimated Useful Lives	1 year
FCI developed technology \| Maximum
Accounting Policies [Line Items]
Estimated Useful Lives	6 years
Customer relationship \| Minimum
Accounting Policies [Line Items]
Estimated Useful Lives	7 years
Customer relationship \| Maximum
Accounting Policies [Line Items]
Estimated Useful Lives	9 years
Reagent licenses
Accounting Policies [Line Items]
Estimated Useful Lives	7 years
IP license
Accounting Policies [Line Items]
Estimated Useful Lives	5 years

Property and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and equipment, net

The following table shows the components of property and equipment, net (in thousands):


	December 31, 2023		December 31, 2022
Laboratory equipment	$	9,472	$	4,777
Leasehold improvements	3,623		3,481
Building and land	7,653		5,553
Construction in progress	256		178
Office and computer equipment	1,235		890
Furniture and fixtures	2,086		1,962
Total property and equipment	24,325		16,841
Less: accumulated depreciation	(5,920)		(3,159)
Property and equipment, net	$	18,405	$	13,682

Total depreciation expense for the year ended December 31, 2023, 2022, and 2021 were $2.8 million, $1.7 million and $0.9 million, respectively.

Stock-Based Compensation Plan (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table shows stock option activity during the periods indicated (in thousands except share and per share data):


	Number of options outstanding	Weighted-average exercise price		Weighted-average remaining contractual term (in years)	Aggregate intrinsic value
Balance as of December 31, 2021	8,805,850	$	6.56	8.03	$	147,623
Options granted	715,352	12.43
Options exercised	(1,224,564)	1.07
Options forfeited	(641,036)	9.85
Options expired	(76,967)	2.33
Balance as of December 31, 2022	7,578,635	$	7.76	7.42	$	37,200
Options granted	1,295,948	10.09
Options exercised	(1,099,160)	1.33
Options forfeited	(363,937)	12.36
Options expired	(191,784)	14.60
Balance as of December 31, 2023	7,219,702	$	8.74	6.90	$	23,574
Options exercisable as of December 31, 2023	4,628,353	$	7.10	6.21	$	21,212

Schedule of RSU Awards Activity

The following table shows RSU awards activity during the periods indicated:


	Shares	Weighted-average grant date fair value per share		Weighted-average remaining contractual term (in years)	Aggregate intrinsic value (in thousands)
Unvested balance at December 31, 2021	104,876	$	21.10	2.05	$	1,704
Granted	1,361,133	12.93
Vested	(215,433)	14.51
Forfeited	(81,068)	13.03
Unvested balance at December 31, 2022	1,169,508	$	13.36	1.59	$	11,941
Granted	2,445,364	$	10.05
Vested	(624,351)	12.20
Forfeited	(382,264)	11.02
Unvested balance at December 31, 2023	2,608,257	$	10.88	1.51	$	23,787

Schedule of Stock-Based Compensation Expense

The following table shows the allocation of stock-based compensation expense related to the Company’s stock-based awards (in thousands):


	Year Ended December 31,
	2023		2022		2021
Cost of sales	$	3,212	$	2,855	$	1,508
Research and development	6,676		5,035		1,877
Sales and marketing	4,290		3,419		1,375
General and administrative	7,870		5,286		1,826
Total stock-based compensation	$	22,048	$	16,595	$	6,586

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The following table shows the weighted-average valuation assumptions used in determining the fair value of employee stock options:


	Year Ended December 31,
	2023		2022		2021
Expected term (in years)	5.96		5.91		6.05
Expected volatility	71	%	75	%	90	%
Risk-free interest rate	4	%	2	%	1	%
Dividend yield	—		—		—

Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumption

The following table summarizes the weighted-average assumptions used in estimating the fair value of the ESPP for the current offering period using the Black-Scholes option-pricing model:


	Year Ended December 31,
	2023		2022		2021
Expected term (in years)	0.5		0.5		0.5
Expected volatility	67	%	77	%	75	%
Risk-free interest rate	5	%	3	%	1	%
Dividend yield	—		—		—

Employee Benefit Plan	12 Months Ended
Employee Benefit Plan	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee benefit plan	Employee benefit plan 401(k) retirement savings plan The Company currently maintains a 401(k) retirement savings plan the covers substantially all of its employees (“401(k) Plan”). The 401(k) Plan permits voluntary contributions by employees, a portion of which are matched by the Company. The Company’s contributions to the 401(k) Plan were approximately $1,678,000, $1,045,000, and $770,000 for the year ended December 31, 2023, 2022, and 2021, respectively.

Description of Business	12 Months Ended
Description of Business	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of business	Description of business Cytek Biosciences, Inc. (“Cytek” or the “Company”) is a leading cell analysis solutions company advancing the next generation of cell analysis tools with its novel technical approach of leveraging the full spectrum of fluorescence signatures from multiple lasers to distinguish fluorescent tags on single cells (“Full Spectrum Profiling” or “FSP” technology). The Company has focused on becoming the premier cell analysis company through continued innovation that facilitates scientific advances in biomedical research and clinical applications. The Company has successfully developed and manufactured its full spectrum flow cytometry platform (“instrument(s)” or “product(s)”). The Company's core FSP instruments, the Cytek Aurora and Northern Lights systems, deliver high-resolution, high-content and high-sensitivity cell analysis. The Company also launched its Cytek Aurora cell sorter (“Aurora CS”), which leverages FSP technology to further broaden potential applications across cell analysis. The Company’s FSP platform includes instruments, accessories, reagents, software, and services to provide a comprehensive and integrated suite of solutions for its customers. On February 28, 2023, the Company completed the acquisition of certain assets (the “FCI Acquisition”) relating to the flow cytometry and imaging business of Luminex Corporation (“Luminex”), including relating to the business of manufacturing, marketing, selling, servicing and maintaining Amnis- and Guava-branded instruments, and flow cytometry reagent products and services (the “FCI Business”). The acquired FCI Business includes conventional flow and image-based flow cytometry instrumentation and related products and services (the “FCI Products”). The Company was incorporated in the state of Delaware in December 2014 and is headquartered in Fremont, California with offices, manufacturing facilities and distribution channels across the globe.

Basis of Presentation and Summary of Significant Accounting Policies - Summary of Accounts Receivables Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 102	$ 3
Cumulative effect adjustment upon adoption of ASU 2016-13		0
Utilization of allowance for credit losses	0	(3)
Provision for credit losses	270	102
Ending Balance	$ 372	$ 102

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Principles of consolidation

The consolidated financial statements include the accounts of Cytek Biosciences, Inc., its wholly-owned subsidiaries, Cytek Limited (HK), Cytek Biosciences B.V. (Europe), Cytek (Shanghai) Biosciences Co., Ltd., Cytek Biosciences (Wuxi) Co., Ltd., Cytek Japan Kabushiki Kaisha (“Cytek Japan”), Cytek Biosciences Ltd (UK), Cytek Biosciences GmbH (Germany) Cytoville Biosciences Shanghai Co., Ltd. and Cytek (Shanghai) Software Development Technology Co., Ltd. Cytoville Biosciences Shanghai Co., Ltd. and Cytek (Shanghai) Software Development Technology Co., Ltd. were closed in the fourth quarter of 2023. All intercompany accounts and transactions have been eliminated in consolidation.

Variable interest entities and voting interest entities

The Company determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a variable interest entity (“VIE”) and therefore subject to the consolidation requirements under the VIE model. Only if the entity does not meet the definition of a VIE, the Company will apply the voting interest model (“VOE”) or other applicable GAAP. VOEs are entities in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and the right to make decisions about the entity’s activities. The Company consolidates VOEs in which it has greater than 50% of the voting shares and that other equity holders do not have substantive voting, participating or liquidation rights. As defined in applicable accounting standards, VIEs are entities that lack one or more of the characteristics of a voting interest entity. A controlling financial interest in a VIE is present when an enterprise has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Company consolidates a VIE where it has been determined that the Company is the primary beneficiary of the entity’s operations. The Company does not currently hold an interest in a VIE.

Use of estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses and the disclosure of contingent assets and liabilities in the Company’s consolidated financial statements and accompanying notes as of the date

of the consolidated financial statements. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates.

Operating segments

Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company’s Chief Executive Officer, who is the chief operating decision maker, reviews financial information on an aggregate basis for allocating and evaluating financial performance. The Company operates and manages its business as one reportable and operating segment.

Foreign currency translation and transactions

The Company has determined that the functional and reporting currency for its operations across the globe is the functional currency of the Company’s international subsidiaries. Accordingly, all foreign balance sheet accounts have been translated into U.S. dollars using the rate of exchange at the respective balance sheet date. Components of the consolidated statements of operations and comprehensive (loss) income have been translated at the average exchange rate for the year or the reporting period. Translation gains and losses are recorded in accumulated other comprehensive (loss) income as a component of stockholders’ equity. Gains or losses arising from currency exchange rate fluctuations on transactions denominated in a currency other than the local functional currency are included in the consolidated statements of operations and comprehensive (loss) income.

Cash and cash equivalents

Cash, cash equivalents, and restricted cash

The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents are carried at cost, which approximates fair value.

The Company’s cash and cash equivalents consist of money held in demand depository accounts and money market funds. The carrying amount of cash and cash equivalents was $167.6 million and $299.5 million as of December 31, 2023 and 2022, respectively, which approximates fair value and was determined based upon Level 1 inputs. The money market account is valued using quoted market prices with no valuation adjustments applied and is categorized as Level 1. The Company limits its credit risk associated with cash and cash equivalents by maintaining its bank accounts at major and reputable financial institutions. The Company’s cash and cash equivalents balance exceeded the federally insured limit of $250,000 as of December 31, 2023 and 2022.

The Company classifies restricted cash as current on the accompanying consolidated balance sheets based upon the term of the remaining restrictions.

The following is a summary of cash, cash equivalents and restricted cash on the consolidated balance sheets (in thousands):


	December 31, 2023		December 31, 2022
Cash	$	22,407	$	123,371
U.S. Treasury	—		29,930
Federal agency securities	—		19,908
Commercial paper			5,955
Money market funds	144,892		117,437
Restricted cash	331		2,899
Total cash, cash equivalents and restricted cash as presented on the consolidated statements of cash flows	$	167,630	$	299,500

Short-term restricted cash

As of December 31, 2023, a customer made an advance payment of $331,000 (EUR 299,579.5) to Cytek Biosciences B.V., provided that the Customer receives a bank guarantee for the same amount as security for refund of said amount in the event that Cytek Biosciences B.V. fails to fulfill its delivery commitment. After the delivery, the restricted cash will be released into the Company's normal cash account.

On November 7, 2022, Cytek (Wuxi) Biosciences Co., Ltd, the Company’s China subsidiary (“Cytek Wuxi”), entered a fixed asset loan agreement with Bank of Communications, China. The loan is denominated in Chinese renminbi

and collateralized by Cytek Wuxi's cash deposit to the bank. The deposit was in a separate account with Cytek Wuxi's name, but the use of such account is restricted. The Company presented the deposit as restricted cash on the audited consolidated balance sheets as of December 31, 2022. In April 2023, the restricted cash account was released.

Investments

Available-for-sale investments. The Company's investments may consist of U.S. treasury and U.S. government agency securities, corporate notes and bonds, commercial paper, and money market funds. The Company has designated all investments as available-for-sale and, therefore, such investments are reported at fair value, with unrealized gains and losses recorded in accumulated other comprehensive (loss) income. The Company generally holds securities until maturity; however, they may be sold under certain circumstances including, but not limited to, when necessary for the funding of acquisitions and other strategic investments. Realized gains and losses on the sale of investments are recorded in interest and other income, net in the consolidated statements of operations. Investments with remaining maturities at date of purchase greater than 90 days and remaining maturities as of the reporting period less than one year are classified as short-term investments. Investments with remaining maturities greater than one year are classified as long-term investments.

Equity Investment. The Company's investment consists of non-marketable equity investments in a privately held company. The Company’s non-marketable equity investments do not have readily determinable fair values. Therefore, the Company elects to apply the measurement alternative and record these investments at cost, less any impairment, plus or minus observable price changes in orderly transactions for identical or similar investments of the same issuer. Investment is included within other noncurrent assets on our consolidated balance sheets and adjustments to their carrying amounts are recorded in other income (expense), net in the consolidated statements of operations. There were no material events or circumstances impacting the carrying amount of our strategic investments during the year ended December 31, 2023.

Trade accounts receivable, net

The Company’s accounts receivable consists principally of amounts due related to product sales of instrument systems and accessories, as well as installation and repair services. These receivables are generally due within 30 to 45 days of the period in which the corresponding sales occur and do not bear interest are classified as trade accounts receivable, net on the consolidated balance sheets. Trade accounts receivable are reported at their estimated net realizable value.

Allowance for uncollectible receivables

Allowance for credit losses

The Company adopted ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13, Financial Instruments - Credit Losses”) on December 31, 2022, which was retroactively applied as of the first day of fiscal year 2022, as further described within the section below titled Recently Adopted Accounting Pronouncements. This accounting standard requires companies to measure expected credit losses on financial instruments based on the total estimated amount to be collected over the lifetime of the instrument. Prior to the adoption of this accounting standard, the Company recorded incurred loss reserves against receivable balances based on current and historical information.

Expected credit losses for uncollectible receivable balances consider both current conditions and reasonable and supportable forecasts of future conditions. Current conditions considered include pre-defined aging criteria, as well as specified events that indicate the balance due is not collectible. Reasonable and supportable forecasts used in determining the probability of future collection consider publicly available macroeconomic data and whether future credit losses are expected to differ from historical losses.

The Company is not party to any off-balance sheet arrangements that would require an allowance for credit losses in accordance with this accounting standard.

The changes in the allowance for uncollectible receivables for the year ended December 31, 2023 were as follows (in thousands):


Allowance for credit losses
Balance at December 31, 2021	$	3
Cumulative effect adjustment upon adoption of ASU 2016-13	—
Balance at January 1, 2022	3
Utilization of allowance for credit losses	(3)
Provision for credit losses	102
Balance at December 31, 2022	$	102
Utilization of allowance for credit losses	—
Provision for credit losses	270
Balance at December 31, 2023	$	372

Inventories

Inventories are stated at the lower of cost and net realizable value. Cost is computed using standard cost, which approximates actual cost on a first-in, first-out basis. The Company regularly monitors inventory quantities on hand and records write-downs for excess and obsolete inventories based on an estimate of demand for products, potential obsolescence of technology, product life cycles, and whether pricing trends or forecasts indicate that the carrying value of inventory exceeds its estimated selling price. These factors are impacted by market and economic conditions, technology changes, and new product introductions and require estimates that may include elements that are uncertain. The Company's estimates of forecasted demand are based upon analysis and assumptions including, but not limited to, expected product lifecycles, product development plans and historical usage by product. If inventory is written down, a new cost basis is established that cannot be increased in future periods.

Property and equipment, net

Property and equipment are recorded at cost, net of accumulated depreciation. Depreciation is recorded using the straight-line method based on the estimated useful lives of the depreciable property or, for leasehold improvements, the remaining term of the lease, whichever is shorter. Assets not yet placed in use are not depreciated. The Company’s estimated useful lives of its property and equipment are as follows:


			Estimated Useful Lives
Building			20 years
Furniture and fixtures			7 years
Laboratory equipment			5 years
Office and computer equipment			3 years
Leasehold improvements			Shorter of expected lease term or estimated useful life

Upon sale or retirement of the assets, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss is recognized in the consolidated statement of operations and comprehensive (loss) income. Expenditures for general maintenance and repairs are expensed as incurred.

Goodwill and intangible assets, net

Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. Intangible assets resulting from the acquisition of entities are estimated by

management based on the fair value of assets received. Intangible assets are amortized on a straight-line basis over the estimated useful lives. The Company’s estimated useful lives of its intangible assets are as follows:


			Estimated Useful Lives
Patent			20 years
Trademarks			10 years
Trade name			3 - 15 years
FCI developed technology			1 - 6 years
Customer relationship			7 - 9 years
Reagent licenses			7 years
IP license			5 years

Accounting for Impairment of Long-Lived Assets

Long-lived assets with finite lives include property and equipment and acquired intangible assets. The Company evaluates long-lived assets, including acquired intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets held and used is measured by comparison of the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset exceeds these estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the assets exceeds the fair value of the asset or asset group.

Goodwill and indefinite-lived intangible assets are not amortized but rather tested for impairment at least annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that impairment may exist. Goodwill impairment is recognized when the quantitative assessment results in the carrying value of the reporting unit exceeding its fair value, in which case an impairment charge is recorded to goodwill to the extent the carrying value exceeds the fair value, limited to the amount of goodwill. The Company did not recognize any impairment of goodwill for all periods presented.

Fair value of financial instruments

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data.

Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.

The categorization of a financial instrument within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company recognizes transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer.

The carrying amounts reflected in the consolidated balance sheets for cash and cash equivalents, trade accounts receivable, net, trade accounts payable and accrued expenses approximate their fair values.

Revenue recognition

The Company’s product revenue consists of sales of its instrument systems and accessories. The Company recognizes product revenue at the point in time when control of the product is transferred to the customer.

The Company’s service revenue primarily consists of post-warranty service contracts, installations and repairs, which are recognized over time. Post-warranty service contracts are recognized ratably over the term of the contract and installations and repair services are recognized as they are delivered to the customer.

Revenue is recognized when control of promised goods or services is transferred to a customer in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To determine revenue recognition for its arrangements with customers, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation.

Invoicing for products occurs upon delivery and payment terms are 30 to 90 days. Service contracts are invoiced upfront and payment terms are generally 30 days. For those arrangements that have terms greater than one year, any payments received upfront are for reasons other than financing. Revenue is recognized only to the extent that it is probable that a significant reversal of the cumulative amount recognized will not occur in future periods. Variable consideration is not material.

Certain of the Company’s sales contracts involve the delivery or performance of multiple products and services within contractually binding arrangements. The Company has determined these performance obligations qualify as distinct performance obligations, as the customer can benefit from the good or service on its own or together with other resources that are readily available to the customer, and the Company’s promise to transfer the good or service is separately identifiable from other promises in the contract. For these arrangements that contain multiple performance obligations, the Company allocates transaction price based on the relative standalone selling price (“SSP”) method by comparing the SSP of each distinct performance obligation to the total value of the contract. The Company uses a range of amounts to estimate SSP for products and services sold together in a contract to determine whether there is a discount to be allocated based on the relative SSP of the various products and services. In instances where SSP is not directly observable, such as when the Company does not sell the product or service separately, the Company determines the SSP using information that may include market conditions and other observable inputs.

Sales, value-add and other taxes, collected from customers concurrent with revenue generating activities and remitted to governmental authorities are not included in revenue. Shipping and handling costs associated with outbound freight are accounted for as a fulfillment cost and are included in cost of sales.

The Company recognizes revenue in certain circumstances before product delivery occurs (commonly referred to as bill-and-hold transactions). When the Company enters into bill-and-hold arrangements, the Company determines if the customer obtains control of the product by determining (a) the reason for the bill-and-hold arrangement; (b) whether the product was identified separately as belonging to the customer; (c) whether the product was ready for physical transfer to the customer; and (d) whether the Company was unable to utilize the product or direct it to another customer. For bill-and-hold arrangements, the associated product inventory is identified separately by the Company as belonging to the customer and is ready for physical transfer.

During the twelve months ended December 31, 2023 and December 31, 2022, the Company recorded $14.9 million and $12.1 million of revenue under bill-and-hold arrangements, respectively. As of December 31, 2023 and December 31, 2022, $5.4 million and $5.9 million was included in revenue for products that had not yet shipped, respectively. As of December 31, 2021, revenue recorded under bill-and-hold arrangements was immaterial.

Product revenue

The Company’s standard arrangement for sales to end users is a purchase order or an executed contract. Revenue is recognized upon transfer of control of the product to the customer, which occurs at a point in time depending on the shipping terms.

The Company’s arrangements with its distributors include a purchase order. The purchase order is governed by terms and conditions set forth in the applicable distribution agreement. Revenue is recognized upon transfer of control of the products to the distributor, which occurs at a point in time depending on the shipping terms.

Service revenue

Contract liabilities

Contract liabilities consist of fees invoiced or paid by the Company’s customers for which the associated services have not been performed and revenue has not been recognized based on the Company’s revenue recognition criteria described above. Such amounts are reported as deferred revenue for service and customer deposits for instruments on the

consolidated balance sheets. Deferred revenue that is expected to be recognized during the following 12 months is recorded as a current liability and the remaining portion is recorded as noncurrent.

Assurance-type product warranties

The Company provides a one-year assurance-type warranty that is included with the sale of its instruments. At the time revenue is recognized for the products, the Company establishes an accrual for estimated warranty expense based on historical data and trends of product reliability and costs of repairing and replacing defective products. The Company exercises judgment in estimating the expected product warranty costs, using data such as the historical repair costs. While management believes that historical experience provides a reliable basis for estimating such warranty cost, unforeseen quality issues or component failure rates could result in future costs in excess of such estimates, or alternatively, improved quality and reliability in the Company’s products could result in actual expenses that are below those currently estimated.

Deferred offering costs

Deferred offering costs, which consist of direct incremental legal, consulting, banking and accounting fees relating to the Company’s planned initial public offering, are capitalized, and are offset against proceeds from an offering upon the effectiveness of the offering. In the event an anticipated offering is terminated, deferred offering costs will be expensed. On July 27, 2021, the Company completed the IPO; accordingly, the Company recognized the initial public offering costs of approximately $5.3 million as a reduction from gross proceeds associated with the IPO through additional paid-in capital in the accompanying consolidated balance sheet. Accordingly, there were no deferred offering costs related to the IPO as of December 31, 2023 and December 31, 2022.

On August 26, 2022, the Company filed with the SEC an automatic shelf registration statement on Form S-3ASR (File No. 333-267118) (the “Registration Statement”). In connection with the filing of the Registration Statement, the Company also entered into a sales agreement (the “2022 Sales Agreement”) with Piper Sandler & Co. (“Piper”) as sales agent to sell from time to time up to $150 million of the Company’s common stock through an “at-the-market” offering program as defined in Rule 415 promulgated under the Securities Act of 1933, as amended (the “Securities Act”).

Pursuant to the terms of the 2022 Sales Agreement, the aggregate compensation payable to Piper is up to 3% of the gross proceeds from the sale of common stock sold by Piper pursuant to the 2022 Sales Agreement. Each party agreed in the 2022 Sale Agreement to provide indemnification and contribution against certain liabilities, including liabilities under the Securities Act, subject to the terms of the 2022 Sales Agreement. As of December 31, 2023, the Company has not made any sales of common stock pursuant to the 2022 Sales Agreement. Accordingly, $0.7 million in transaction expenses recorded as prepaid offering costs have not yet been expensed in transaction expenses recorded.

Research and development costs

Research and development costs are expensed as incurred. Research and development expenses to date consist primarily of salaries, benefits, stock-based compensation, independent contractor costs, laboratory supplies, equipment maintenance, materials expenses, and software license fees. Payments made prior to the receipt of goods or services to be used in research and development activities are recorded as prepaid expenses until the related goods or services are received.

Advertising costs

The cost of advertising, marketing and media is expensed as incurred.

Stock-based compensation

The Company maintains an equity incentive compensation plan under which incentive stock options and nonqualified stock options to purchase common stock, and restricted stock units for common stock, are granted to employees and non-employee consultants. Stock-based compensation cost is measured at the grant date, based on the fair value of the award, and is recognized as expense over the requisite service period. The fair value of stock options granted to employees is estimated using the Black-Scholes option pricing model. The Company records forfeitures as they occur. The weighted-average assumptions used in estimating the fair value of stock options granted during each of the periods presented are:

Expected Volatility—Expected volatility is estimated by studying the volatility of selected industry peers deemed to be comparable to the Company's business corresponding to the expected term of the awards.

Expected Term—Expected term represents the period that the Company's stock-based awards are expected to be outstanding and is determined using the simplified method.

Dividend Yield— The expected dividend yield is zero as the Company has never declared or paid cash dividends and has no current plans to do so in the foreseeable future.

Risk-Free Interest Rate—The risk-free interest rate is based on the U.S. Treasury zero-coupon issued in effect at the time of grant for periods corresponding with the expected term of the option.

Income taxes

The Company accounts for income taxes under an asset and liability approach. Deferred income taxes comprise the impact of temporary differences between assets and liabilities recognized for financial reporting purposes and the amounts recognized for income tax reporting purposes, net operating loss carryforwards, and other tax credit carryforwards measured by applying currently enacted tax laws. A valuation allowance is provided when necessary to reduce deferred tax assets to an amount that is more likely than not to be realized.

The Company determines whether a tax position is more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The Company uses a two-step approach to recognize and measure uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained upon tax authority examination, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement. The Company’s policy for interest and penalties related to uncertain tax positions is to recognize interest and penalties, if any, in interest expense and other expense, respectively, in the accompanying consolidated statement of operations. Accrued interest and penalties, if any, are included in accrued expenses in the consolidated balance sheet.

The Company files income tax returns in the U.S. federal jurisdiction, various U.S. state jurisdictions and foreign jurisdictions. The U.S. state and foreign jurisdictions have statutes of limitations that generally range from three to five years. The Company’s federal, state and foreign income tax returns are subject to examination unless the statutes of limitations close. The Company is not currently under examination for federal, state, and foreign income tax purposes.

The Company intends to reinvest its undistributed earnings of its foreign operations. Following enactment of the 2017 Tax Cuts and Jobs Act (the “Tax Act”), the repatriation of cash to the United States is generally no longer taxable for federal income tax purposes. However, the repatriation of cash held outside the United States could be subject to applicable foreign withholding taxes and state income taxes. The Company may remit foreign earnings to the United States to the extent it is tax efficient to do so. It does not expect the tax impact from remitting these earnings to be material. The Company adopted this guidance on January 1, 2021 on a prospective basis, and the adoption did not have a material impact to the Company’s consolidated financial statements.

Net income (loss) attributable to common stockholders per share

Basic net income (loss) attributable to common stockholders per share and diluted net income (loss) attributable to common stockholders per share are computed using the weighted-average number of shares of common stock outstanding for the period. Net income (loss) per share attributable to common stockholders is calculated using the two-class method, which is an earnings allocation formula that determines net income (loss) per share for the holders of shares of the Company’s common stock and participating securities. The Company’s redeemable convertible preferred stock contains participation rights in any dividend paid by the Company and is deemed to be a participating security. The participating securities include a contractual obligation to participate in the income of the Company and are included in the calculation of net income (loss) per share in the periods in which net income (loss) is recorded.

Diluted net income (loss) attributable to common stockholders per share is computed using the more dilutive of (a) the two-class method or (b) the if-converted method. The Company allocates earnings first to preferred stockholders based on non-cumulative dividend rights if and when declared and then to common and preferred stockholders based on ownership interests. The weighted-average number of shares of common stock included in the computation of diluted net income attributable to common stockholders per share gives effect to all potentially dilutive common stock equivalents, including outstanding options and redeemable convertible preferred stock.

Common stock equivalents are excluded from the computation of diluted net income (loss) attributable to common stockholders per share if their effect is antidilutive.

Business Combinations

The Company uses the acquisition method of accounting under ASC 805, Business Combinations. Each acquired company’s operating results are included in the Company's consolidated financial statements starting on the date of acquisition. The purchase price is equivalent to the fair value of consideration transferred. Tangible and identifiable

intangible assets acquired and liabilities assumed as of the date of acquisition are recorded at the acquisition date fair value. Goodwill is recognized for the excess of purchase price over the net fair value of assets acquired and liabilities assumed.

Amounts allocated to assets and liabilities are based upon their estimated fair values. Such valuations require management to make significant estimates and assumptions, especially with respect to the identifiable intangible assets. Management makes estimates of fair value based upon assumptions believed to be reasonable and that of a market participant. These estimates are based on historical experience and information obtained from the management of the acquired companies and the estimates are inherently uncertain. The separately identifiable intangible assets generally include developed technology, customer relationships, trade names, and reagent licenses

Recently adopted accounting pronouncements and Recently Issued Accounting Pronouncements

Recently adopted accounting pronouncements

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), to improve financial reporting and disclosures about leasing transactions. This ASU requires companies that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases, for substantially all leases. The recognition, measurement and presentation of expense and cash flows arising from a lease by a lessee will depend primarily on its classification as a finance or operating lease; both types of leases will be recognized on the balance sheet. This ASU also requires disclosures to help financial statement users to better understand the amount, timing and uncertainty of cash flows arising from leases. The new lease standard was adopted by the Company on its effective date of January 1, 2022. The Company used the optional transition method to the modified retrospective approach in which results for reporting periods beginning on January 1, 2022 are presented under Topic 842, while prior period amounts continue to be reported and disclosed in accordance with the Company’s historical accounting treatment under ASC Topic 840, Leases.

A number of practical expedients and policy elections are available under the new guidance to reduce the burden of adoption and ongoing compliance with Topic 842. The Company elected the “package of practical expedients” permitted under the transition guidance, which did not require reassessment of whether contracts entered into prior to January 1, 2022 are or contain leases, and allowed carryforward of the historical lease classification for existing leases. The Company has not elected to adopt the “hindsight” practical expedient, and therefore will measure the right-of-use (ROU) asset and lease liability using the remaining portion of the lease term at adoption on January 1, 2022.

The Company made an accounting policy election under Topic 842 not to recognize ROU assets and lease liabilities for leases with a term of twelve months or less. For all other leases, the Company recognizes ROU assets and lease liabilities based on the present value of lease payments over the lease term at the commencement date of the lease (or January 1, 2022 for existing leases upon the adoption of Topic 842). The ROU assets also include any initial direct costs incurred and lease payments made at or before the commencement date and are reduced by any lease incentives.

Future lease payments may include fixed rent escalation clauses or payments that depend on an index (such as the consumer price index). Subsequent changes an index and other periodic market-rate adjustments to base rent are recorded in variable lease expense in the period incurred. Residual value guarantees and payments for terminating a lease are included in the lease payments only when it is probable they will be incurred.

The Company’s leases may include a non-lease component representing additional services transferred to the Company, such as common area maintenance for real estate. The Company made an accounting policy election to account for each separate lease component and the non-lease components associated with that lease component as a single lease component. The non-lease components are generally variable in nature and recorded in variable lease expense in the period incurred.

The Company uses its incremental borrowing rate to determine the present value of lease payments, as the Company’s leases do not have a readily determinable implicit discount rate. The incremental borrowing rate is the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar term and amount in a similar economic environment. Judgement is applied in assessing factors such as Company-specific credit risk, lease term, nature and quality of the underlying collateral, currency, and economic environment in determining the incremental borrowing rate to apply to each lease.

Adoption of Topic 842 resulted in the recording of ROU assets and lease liabilities related to the Company’s operating leases of approximately $14.6 million and $15.2 million, respectively, on January 1, 2022. The adoption of the new lease standard did not materially impact the Company's consolidated net income or consolidated cash flows and did not result in a cumulative-effect adjustment to the opening balance of retained earnings. Refer to Note 17 for additional disclosures.

Recently Issued Accounting Pronouncements

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires enhanced income tax disclosures, including specific categories and

disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. The requirements of the ASU are effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this pronouncement.

The Company continues to monitor new accounting pronouncements issued by the FASB and does not believe any accounting pronouncements issued through the date of this report will have a material impact on its financial statements.

Goodwill and Intangible Assets, Net - Summary of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 27,697	$ 5,710
Less: accumulated amortization	(4,613)	(1,379)
Intangible assets, net	23,084	4,331
Patents and trademarks
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	638	534
Trade name
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	3,823	700
IP license
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	10,636	476
Customer relationship
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	10,800	2,200
Reagent license
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 1,800	$ 1,800

Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Basis of presentation and summary of significant accounting policies

The Company has prepared the accompanying consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASUs”) of the Financial Accounting Standards Board (“FASB”).

Principles of consolidation

Variable interest entities and voting interest entities

Use of estimates

Operating segments

Foreign currency translation and transactions

Cash, cash equivalents, and restricted cash

The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents are carried at cost, which approximates fair value.

The Company classifies restricted cash as current on the accompanying consolidated balance sheets based upon the term of the remaining restrictions.

The following is a summary of cash, cash equivalents and restricted cash on the consolidated balance sheets (in thousands):


	December 31, 2023		December 31, 2022
Cash	$	22,407	$	123,371
U.S. Treasury	—		29,930
Federal agency securities	—		19,908
Commercial paper			5,955
Money market funds	144,892		117,437
Restricted cash	331		2,899
Total cash, cash equivalents and restricted cash as presented on the consolidated statements of cash flows	$	167,630	$	299,500

Short-term restricted cash

Investments

Trade accounts receivable, net

Allowance for credit losses

The Company is not party to any off-balance sheet arrangements that would require an allowance for credit losses in accordance with this accounting standard.

The changes in the allowance for uncollectible receivables for the year ended December 31, 2023 were as follows (in thousands):


Allowance for credit losses
Balance at December 31, 2021	$	3
Cumulative effect adjustment upon adoption of ASU 2016-13	—
Balance at January 1, 2022	3
Utilization of allowance for credit losses	(3)
Provision for credit losses	102
Balance at December 31, 2022	$	102
Utilization of allowance for credit losses	—
Provision for credit losses	270
Balance at December 31, 2023	$	372

Inventories

Property and equipment, net


			Estimated Useful Lives
Building			20 years
Furniture and fixtures			7 years
Laboratory equipment			5 years
Office and computer equipment			3 years
Leasehold improvements			Shorter of expected lease term or estimated useful life

Goodwill and intangible assets, net


			Estimated Useful Lives
Patent			20 years
Trademarks			10 years
Trade name			3 - 15 years
FCI developed technology			1 - 6 years
Customer relationship			7 - 9 years
Reagent licenses			7 years
IP license			5 years

Accounting for Impairment of Long-Lived Assets

Fair value of financial instruments

Level 1—Quoted prices in active markets for identical assets or liabilities.

Revenue recognition

Product revenue

Service revenue

Contract liabilities

consolidated balance sheets. Deferred revenue that is expected to be recognized during the following 12 months is recorded as a current liability and the remaining portion is recorded as noncurrent.

Assurance-type product warranties

Deferred offering costs

Research and development costs

Advertising costs

The cost of advertising, marketing and media is expensed as incurred. For the year ended December 31, 2023, 2022 and 2021 advertising, marketing and media expenses were $3.4 million, $2.5 million and $1.8 million, respectively.

Stock-based compensation

Expected Term—Expected term represents the period that the Company's stock-based awards are expected to be outstanding and is determined using the simplified method.

Dividend Yield— The expected dividend yield is zero as the Company has never declared or paid cash dividends and has no current plans to do so in the foreseeable future.

Risk-Free Interest Rate—The risk-free interest rate is based on the U.S. Treasury zero-coupon issued in effect at the time of grant for periods corresponding with the expected term of the option.

Income taxes

Net income (loss) attributable to common stockholders per share

Common stock equivalents are excluded from the computation of diluted net income (loss) attributable to common stockholders per share if their effect is antidilutive.

Business Combinations

Recently adopted accounting pronouncements

Recently Issued Accounting Pronouncements

Investment in Cytek Japan - Additional Information (Details) - USD ($)	1 Months Ended			12 Months Ended
	Jan. 31, 2023	Mar. 31, 2021	May 31, 2019	Dec. 31, 2022	Dec. 31, 2023
Related Party Transaction [Line Items]
Noncontrolling interest in consolidated subsidiary		$ 315,000		$ 251,000	$ 0
Cytek Japan
Related Party Transaction [Line Items]
Equity method investment percentage			50.00%
Proportionate share of Cytek Japan’s earnings				$ 40,000
Recognized net assets		1,100,000
Cytek Japan \| Cash
Related Party Transaction [Line Items]
Recognized net assets		$ 1,000,000
Cytek Japan \| Minimum
Related Party Transaction [Line Items]
Equity method investment percentage		50.00%
Cytek Japan \| Maximum
Related Party Transaction [Line Items]
Equity method investment percentage		73.00%
Cytek Japan \| Common stock
Related Party Transaction [Line Items]
Common stock purchased value	$ 235,000	$ 688,000	$ 46,000
T O M Y Digital Biology \| Common stock
Related Party Transaction [Line Items]
Common stock purchased value		$ 229,000

Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue from contracts with customers

Disaggregation of revenue

The following table depicts the disaggregation of revenue by sales channel mix and customer mix as defined by the nature of workflows (in thousands):


	Year Ended December 31,
	2023		2022		2021
Sales channel mix
Direct sales channel	$	147,169	$	129,098	$	110,520
Distributor channel	45,846		34,938		17,430
Total revenue, net	$	193,015	$	164,036	$	127,950

Customer mix
Academia and government	$	82,145	$	73,706	$	59,415
Biotechnology, pharmaceutical, distributor and contract research organizations	110,870		90,330		68,535
Total revenue, net	$	193,015	$	164,036	$	127,950

Revenue by geographical markets is presented in Note 22, Geographic areas.

Remaining performance obligations

The following table includes estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially satisfied) as of December 31, 2023 (in thousands):


	Less than 1 year		Greater than 1 year		Total
Product revenue	$	1,336	$	—	$	1,336
Service revenue	21,359		15,132		36,491
Total revenue	$	22,695	$	15,132	$	37,827

Contract balances

The following table provides information about receivables, deferred revenue from contracts with customers, and customer deposits (in thousands):


	December 31, 2023		December 31, 2022
Trade accounts receivable	$	55,928	$	48,864
Contract liabilities:
Deferred revenue	$	37,827	$	26,110
Customer deposits, which are included in 'Other current liabilities'	1,438		1,555
Total contract liabilities	$	39,265	$	27,665

The following provides a roll-forward of the contract liabilities (in thousands):


Contract liabilities
Balance at December 31, 2020	$	7,745
Revenue recognized	(15,008)
Revenue deferred	25,152
Balance at December 31, 2021	$	17,889
Revenue recognized	(24,686)
Revenue deferred	34,462
Balance at December 31, 2022	$	27,665
Revenue recognized	(36,298)
Revenue deferred	47,898
Balance at December 31, 2023	$	39,265

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Geographic Areas - Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue, net	$ 193,015	$ 2,963	$ 2,181
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue, net	102,085	94,592	72,724
EMEA
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue, net	53,178	43,958	36,967
APAC
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue, net	31,598	22,523	16,078
Other
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue, net	$ 6,154	$ 164,036	$ 127,950

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

Investment in Cytek Japan	12 Months Ended
Investment in Cytek Japan	Dec. 31, 2023
Investment Company [Abstract]
Investment in Cytek Japan	Investment in Cytek Japan In May 2019, the Company jointly formed Cytek Japan with TOMY Digital Biology (“TOMY”). Cytek Japan was created for the purpose of expanding the Company’s presence in Japan. The Company and TOMY each purchased $46,000 of common stock of Cytek Japan. The Company previously accounted for its 50% interest in Cytek Japan as an equity method investment. The Company recorded $40,000 for its proportionate share of Cytek Japan’s earnings prior to its additional investment, which is included in other income (expense), net in the consolidated statements of operations and comprehensive (loss) income for the year ended December 31, 2022. In March 2021, the Company purchased an additional $688,000 of common stock of Cytek Japan and TOMY purchased an additional $229,000 of common stock of Cytek Japan. The Company’s interest in Cytek Japan increased from 50% to 73% giving the Company controlling interest. The Company consolidated Cytek Japan as of March 31, 2021. The Company recognized net assets of $1.1 million, consisting primarily of $1.0 million cash. The Company recorded noncontrolling interest of $315,000 on the unaudited interim consolidated financial statements as of March 31, 2021. In January 2023, the Company purchased an additional $235,000 of common stock of Cytek Japan. Cytek Japan became a wholly-owned subsidiary of the Company.

Insider Trading Arrangements	3 Months Ended	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2023 shares	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Adoption, Modification or Termination of 10b5-1 Trading Plans On November 10, 2023, Wenbin Jiang, our Chief Executive Officer, President and Chairman of the Board of Directors, terminated his written plan for the sale of the Company’s securities adopted on November 17, 2022 (the “Plan”). The termination of the Plan was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). The Plan was set to expire on January 31, 2024 and covered the sale of a total of 1,200,000 shares of the Company’s common stock held by Dr. Jiang.
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	true
Non-Rule 10b5-1 Arrangement Terminated	false
Wenbin Jiang [Member]
Trading Arrangements, by Individual
Name	Wenbin Jiang
Title	Chief Executive Officer, President and Chairman of the Board of Directors
Termination Date	November 10, 2023
Arrangement Duration		82 days
Aggregate Available	1,200,000	1,200,000

Geographic Areas - Schedule of Long-Lived Assets by Geographical Areas (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Revenues From External Customers And Long Lived Assets [Line Items]
Total	$ 18,405	$ 13,682
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Total	8,814	6,426
EMEA
Revenues From External Customers And Long Lived Assets [Line Items]
Total	325	0
APAC
Revenues From External Customers And Long Lived Assets [Line Items]
Total	$ 9,266	$ 7,256

Debt - Additional Information (Details) - Cytek - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2023
Debt Conversion [Line Items]
Loan amount	$ 2.9	$ 2.2
Debt instrument term	5 years
Portion of loan included in current liabilities		$ 0.6
Interest rate on loan		4.50%

Lease - Schedule of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 3,182	$ 3,539
Short-term lease cost	910	48
Total lease cost	$ 4,092	$ 3,587

Legal Settlement Liability (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Legal Settlement Liability

The following table shows the components of the legal settlement liability (in thousands):


	December 31, 2023		December 31, 2022
Current:
Legal settlement liability	$	2,561	$	2,163
Noncurrent:
Legal settlement liability	16,477		15,596
Total legal settlement liability	$	19,038	$	17,759

Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets, net

The addition of goodwill for the year ended December 31, 2023 is discussed in Note 9.

The following table shows the components of intangible assets, net (in thousands):


	December 31, 2023		December 31, 2022
Patents and trademarks	$	638	$	534
Trade name	3,823		700
IP license	10,636		476
Customer relationships	10,800		2,200
Reagent license	1,800		1,800
Total intangible assets	27,697		5,710
Less: accumulated amortization	(4,613)		(1,379)
Intangible assets, net	$	23,084	$	4,331

Total amortization expense for the year ended December 31, 2023, 2022, and 2021 were approximately $3.3 million, $0.8 million and $0.3 million, respectively.

Income Taxes - Schedule of Income before Income Tax, Domestic and Foreign (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Domestic	$ (16,899)	$ (1,347)	$ (1,870)
International	1,190	2,607	7,808
(Loss) income before income taxes	$ (15,709)	$ 1,260	$ 5,938

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Goodwill and Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

The following table shows the components of intangible assets, net (in thousands):


	December 31, 2023		December 31, 2022
Patents and trademarks	$	638	$	534
Trade name	3,823		700
IP license	10,636		476
Customer relationships	10,800		2,200
Reagent license	1,800		1,800
Total intangible assets	27,697		5,710
Less: accumulated amortization	(4,613)		(1,379)
Intangible assets, net	$	23,084	$	4,331

Balance Sheet Details - Schedule of Components of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Prepaid expenses:
Prepaid inventory	$ 292	$ 621
Prepaid rent	255	293
Prepaid insurance	990	1,466
Prepaid income tax	5,813	2,080
Other	2,742	2,687
Other current assets:
Tax refund receivable	192	2,011
Other	2,230	3,796
Total prepaid expenses and other current assets	$ 12,514	$ 12,954

Goodwill and Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 3.3	$ 0.8	$ 0.3

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	San Jose, California
Auditor Firm ID	34

Legal Settlement Liability

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Legal settlement liability

On February 13, 2018, Becton, Dickinson, and Company (“BD”) filed a lawsuit against the Company alleging trade secret misappropriation and copyright infringement. On October 6, 2020, the Company entered into a Settlement, License and Equity Issuance Agreement with BD pursuant to which the Company and BD agreed to a mutual release of all claims against each other as of the date thereof (the “BD Agreement”). Additionally, BD granted Cytek a non-exclusive, irrevocable, perpetual, worldwide and non-transferrable license to certain BD patents and covenanted that it would not enforce or permit or encourage the enforcement of BD patents against Cytek or its affiliates in connection with the development, manufacture, use, importation, offer for sale or sale of its then-current instruments. In exchange, the Company agreed that Cytek and its affiliates would not dispute or challenge in a legal proceeding the validity, enforceability or scope of the applicable BD patent claims and agreed to make certain payments to BD, including (i) a one-time upfront payment of $2.0 million, (ii) a low single digit royalty payment for ten years, based on net sales of certain of its products, (iii) $6.0 million milestone payment upon the occurrence of a certain sales threshold, and (iv) a specified payment upon the closing of a change of control transaction, if any. The Company also issued 2,087,545 shares of the Company’s common stock to BD during the year ended December 31, 2020 in connection with the BD settlement. The Company achieved the sales milestone and made the milestone payment in the quarter ended December 31, 2021.

The Company separated the settlement agreement into two elements, the litigation settlement and future licensing rights. The Company could not readily determine the fair value of the litigation settlement of prior infringement claims between the Company and BD. Therefore, the Company applied the residual method and allocated the difference between the total present value consideration payable under the BD Agreement and the estimated fair value of the future licensing rights to the litigation settlement element. The Company determined the estimated fair value of the future licensing rights based on the relief from royalty method. The significant assumptions used were the market royalty rate estimated as a royalty rate that a market participant would pay to license the BD intellectual property, forecasted sales subject to the market royalty rate and the discount rate.

The patents in question were determined to have an average useful life of 18 months. Accordingly, beginning the second quarter of 2022, the remaining contractual payments were classified as operating expenses as they were considered deferred litigation settlement. The Company recorded $0 million, $0.6 million, and $3.3 million product cost of sales related to royalty expense for the year ended December 31, 2023, 2022, and 2021, respectively. The Company recorded $1.6 million, $2.2 million, and $1.7 million of interest expense for the year ended December 31, 2023, 2022, and 2021, respectively, to accrete the present value discount of the payment streams over the payment period of ten years from the settlement date using the effective interest rate method. The Company made a one-time upfront payment and issued 2,087,545 shares of the Company’s common stock to BD during the year ended December 31, 2020. The Company recorded legal settlement liability on the consolidated balance sheets of $19.0 million and $17.8 million as of December 31, 2023 and December 31, 2022, respectively, and will record licensing expense in future periods.

The following table shows the components of the legal settlement liability (in thousands):


	December 31, 2023		December 31, 2022
Current:
Legal settlement liability	$	2,561	$	2,163
Noncurrent:
Legal settlement liability	16,477		15,596
Total legal settlement liability	$	19,038	$	17,759

Stock-Based Compensation Plan - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Jul. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued in connection with employee stock plans (in shares)		296,236
Weighted-average grant date fair value of options granted (in dollars per share)		$ 6.64	$ 8.21	$ 10.42
Share-based Payment Arrangement, Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options		$ 20.6
Unrecognized stock-based compensation expense estimated, recognition period		1 year 11 months 4 days
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options		$ 26.2
Unrecognized stock-based compensation expense estimated, recognition period		2 years 11 months 26 days
2021 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	18,000,000	21,353,903
Annual increase to common stock reserved for issuance	4.00%
Employee Stock Purchase Plan 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	2,000,000	5,509,370
Annual increase to common stock reserved for issuance	1.00%
2021 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares outstanding (in shares)	5,000,000

Investments - Schedule of the Contractual Maturities for Available Sale Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	$ 95,124	$ 44,532
Fair Value	95,111	44,549
Mature in less than one year
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mature in less than one year - Amortized Cost	95,124	44,532
Mature in less than on year - Fair Value	$ 95,111	$ 44,549

Product Warranty - Schedule of Product Warranty Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance, beginning of the period	$ 2,126	$ 1,760
Accrual for current year warranties	3,540	2,841
Warranty cost incurred	(2,861)	(2,475)
Balance, end of period	$ 2,805	$ 2,126

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current provisions for income taxes:
Federal	$ 4,142	$ 7,280	$ 3,666
State	798	1,339	440
Foreign	1,528	1,442	601
Total current	6,468	10,061	4,707
Deferred tax expense (benefit):
Federal	(8,777)	(9,164)	(2,529)
State	(1,170)	(1,910)	(579)
Foreign	(82)	(211)	1,312
Total deferred tax expense (benefit)	(10,029)	(11,285)	(1,796)
Total provision for (benefit from) income taxes	$ (3,561)	$ (1,224)	$ 2,911

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Legal proceedings The Company evaluates the status of each legal matter, if any, and assesses potential financial exposure. If the potential loss from any legal proceedings or litigation is considered probable and the amount can be reasonably estimated, the Company accrues a liability for the estimated loss. Significant judgment is required to determine the probability of a loss and whether the amount of the loss is reasonably estimated. The outcome of any proceeding is not determinable in advance. As a result, the assessment of a potential liability and the amount of accruals recorded are based on the information available at the time. The Company is not currently involved in legal actions, nor is management aware of any potential claims or legal actions, for which the ultimate disposition could have a material effect on the Company’s financial position, results of operations or liquidity.

Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit) - USD ($) $ in Thousands	Total	Redeemable convertible preferred stock	Common stock	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive (loss) income	Noncontrolling interest in consolidated subsidiary
Beginning balance (in shares) at Dec. 31, 2020		87,268,694
Beginning balance at Dec. 31, 2020		$ 194,319
Increase (Decrease) in Temporary Equity [Roll Forward]
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares)		(87,268,694)
Conversion of redeemable convertible preferred stock to common stock upon initial public offering		$ (194,319)
Ending balance (in shares) at Dec. 31, 2021		0
Ending balance at Dec. 31, 2021		$ 0
Beginning balance (in shares) at Dec. 31, 2020			31,241,916
Beginning balance at Dec. 31, 2020	$ (16,028)		$ 23	$ 6,491	$ (22,607)	$ 65	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)			1,289,652
Exercise of stock options	644		$ 2	642
Stock-based compensation	6,586			6,586
Noncontrolling interest	317						317
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs (in shares)			13,949,401
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs	215,689		$ 14	215,675
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares)			87,268,694
Conversion of redeemable convertible preferred stock to common stock upon initial public offering	194,318		$ 87	194,231
Unrealized (loss) gain on marketable securities	0
Foreign currency translation adjustment, net of tax	832					832
Net income (loss)	3,027				3,001		26
Net income (loss)	0
Ending balance (in shares) at Dec. 31, 2021			133,749,663
Ending balance at Dec. 31, 2021	$ 405,385		$ 126	423,625	(19,606)	897	343
Ending balance (in shares) at Dec. 31, 2022		0
Ending balance at Dec. 31, 2022		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	1,224,564
Shares issued in connection with employee stock plans (in shares)			1,632,467
Shares issued in connection with employee stock plans	$ 2,885		$ 9	2,876
Shares of Common Stock withheld related to net share settlement (in shares)			(16,749)
Shares of Common Stock withheld related to net share settlement	(209)			(209)
Stock-based compensation	16,595			16,595
Noncontrolling interest	(92)						(92)
Unrealized (loss) gain on marketable securities	17					17
Foreign currency translation adjustment, net of tax	(1,611)					(1,611)
Net income (loss)	2,576				2,576
Ending balance (in shares) at Dec. 31, 2022			135,365,381
Ending balance at Dec. 31, 2022	$ 425,546		$ 135	442,887	(17,030)	(697)	251
Ending balance (in shares) at Dec. 31, 2023		0
Ending balance at Dec. 31, 2023		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	1,099,160
Shares issued in connection with employee stock plans (in shares)	296,236		1,723,511
Shares issued in connection with employee stock plans	$ 1,467		$ 2	1,465
Proceeds from Employee Stock Purchase Plan (in shares)			296,236
Proceeds from Employee Stock Purchase Plan	1,855			1,855
Shares of Common Stock withheld related to net share settlement (in shares)			(56,442)
Shares of Common Stock withheld related to net share settlement	(419)			(419)
Repurchase of shares (in shares)			(6,613,780)
Repurchase of shares	(44,471)		$ (6)	(44,465)
Stock-based compensation	22,048			22,048
Noncontrolling interest	(236)			15			(251)
Unrealized (loss) gain on marketable securities	(29)					(29)
Foreign currency translation adjustment, net of tax	(549)					(549)
Net income (loss)	(12,148)				(12,148)
Ending balance (in shares) at Dec. 31, 2023			130,714,906
Ending balance at Dec. 31, 2023	$ 393,064		$ 131	$ 423,386	$ (29,178)	$ (1,275)	$ 0

Property and Equipment, Net - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Total property and equipment	$ 24,325	$ 16,841
Less: accumulated depreciation	(5,920)	(3,159)
Property and equipment, net	18,405	13,682
Laboratory equipment
Property Plant And Equipment [Line Items]
Total property and equipment	9,472	4,777
Leasehold improvements
Property Plant And Equipment [Line Items]
Total property and equipment	3,623	3,481
Building and land
Property Plant And Equipment [Line Items]
Total property and equipment	7,653	5,553
Construction in progress
Property Plant And Equipment [Line Items]
Total property and equipment	256	178
Office and computer equipment
Property Plant And Equipment [Line Items]
Total property and equipment	1,235	890
Furniture and fixtures
Property Plant And Equipment [Line Items]
Total property and equipment	$ 2,086	$ 1,962

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par or stated value per share (in dollar per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	130,714,906	135,365,381
Common stock, shares, outstanding (in shares)	130,714,906	135,365,381

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

The following is a summary of cash, cash equivalents and restricted cash on the consolidated balance sheets (in thousands):


	December 31, 2023		December 31, 2022
Cash	$	22,407	$	123,371
U.S. Treasury	—		29,930
Federal agency securities	—		19,908
Commercial paper			5,955
Money market funds	144,892		117,437
Restricted cash	331		2,899
Total cash, cash equivalents and restricted cash as presented on the consolidated statements of cash flows	$	167,630	$	299,500

Restrictions on Cash and Cash Equivalents

The following is a summary of cash, cash equivalents and restricted cash on the consolidated balance sheets (in thousands):


	December 31, 2023		December 31, 2022
Cash	$	22,407	$	123,371
U.S. Treasury	—		29,930
Federal agency securities	—		19,908
Commercial paper			5,955
Money market funds	144,892		117,437
Restricted cash	331		2,899
Total cash, cash equivalents and restricted cash as presented on the consolidated statements of cash flows	$	167,630	$	299,500

Schedule of Accounts Receivable, Allowance for Doubtful Debt

The changes in the allowance for uncollectible receivables for the year ended December 31, 2023 were as follows (in thousands):


Allowance for credit losses
Balance at December 31, 2021	$	3
Cumulative effect adjustment upon adoption of ASU 2016-13	—
Balance at January 1, 2022	3
Utilization of allowance for credit losses	(3)
Provision for credit losses	102
Balance at December 31, 2022	$	102
Utilization of allowance for credit losses	—
Provision for credit losses	270
Balance at December 31, 2023	$	372

Schedule of Useful Life of Property Plant and Equipment

The Company’s estimated useful lives of its property and equipment are as follows:


			Estimated Useful Lives
Building			20 years
Furniture and fixtures			7 years
Laboratory equipment			5 years
Office and computer equipment			3 years
Leasehold improvements			Shorter of expected lease term or estimated useful life

Schedule of Finite-Lived Intangible Assets

The Company’s estimated useful lives of its intangible assets are as follows:


			Estimated Useful Lives
Patent			20 years
Trademarks			10 years
Trade name			3 - 15 years
FCI developed technology			1 - 6 years
Customer relationship			7 - 9 years
Reagent licenses			7 years
IP license			5 years

Stock-Based Compensation Plan

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock-based compensation plan

Stock Plans

As of December 31, 2023, the Company had three stock-based compensation plans (the “Plans”) which are described below.

2015 Equity Incentive Plan

In March 2015, the Board approved the 2015 Equity Incentive Plan (“2015 Plan”), which provided for the granting of stock options to employees, directors and consultants of the Company. As of the effective date of the 2021 Plan described below, the 2015 Plan was terminated and no further equity awards may be granted pursuant to the 2015 Plan. Outstanding stock options granted under the 2015 Plan will continue to be governed by the provisions of the 2015 Plan until expiration or exercise, whichever is earlier.

2021 Equity Incentive Plan

In July 2021, the Board approved the 2021 Equity Incentive Plan (the “2021 Plan”), which provides for the granting of stock options, stock appreciation rights, restricted stock awards, restricted stock unit (“RSU”) awards, performance awards, and other awards to employees, directors and consultants of the Company. The 2021 Plan became effective on July 22, 2021 in connection with the IPO. Upon the 2021 Plan’s effective date, there were 18,000,000 shares of the Company’s common stock reserved for issuance thereunder. On January 1 of each year commencing after the effective date of the IPO and continuing through and including January 1, 2031, the number of shares of the Company’s common stock reserved for issuance under the 2021 Plan will increase automatically by an amount equal to 4% of the number of shares of the Company’s common stock outstanding on the preceding December 31, unless the Company’s Board of Directors elects to authorize a lesser number of shares prior to the applicable January 1. As of December 31, 2023, the total number of shares of common stock available for issuance under the 2021 Plan was 21,353,903 shares.

2021 Employee Stock Purchase Plan

In July 2021, the Board approved the 2021 Employee Stock Purchase Plan (the “ESPP”). The ESPP became effective on July 22, 2021 in connection with the IPO. Upon the ESPP’s effective date, there were 2,000,000 shares of the Company’s common stock reserved for issuance thereunder. On January 1 of each year commencing after the effective date of the IPO and continuing through and including January 1, 2031, the number of shares of the Company’s common stock reserved for issuance under the ESPP will increase automatically by an amount equal to the lesser of (1) 1% of the number of shares of the Company’s common stock outstanding on the preceding December 31, (2) 5,000,000 shares and (3) a number of shares determined by the Board. During the year ended December 31, 2023, 296,236 shares were issued pursuant to purchases under the ESPP. As of December 31, 2023, the total number of shares of common stock available for issuance under the ESPP was 5,509,370 shares.

Stock option valuation assumptions

The Company estimates the fair value of each stock option grant on the date of grant using the Black-Scholes option pricing model. The model assumptions include expected volatility, expected term, dividend yield, and the risk-free interest rate. The expected volatility was based on the volatility of a group of similar entities. The Company derived expected term by using the “simplified” method (the expected term is determined as the average of the time-to-vesting and contractual life of the option), as the Company has limited historical information to develop expectations about future exercise patterns and post vesting employment termination behavior. The Company based the risk-free rate on U.S. Treasury zero-coupon issues with remaining terms similar to the expected term of the option. The Company has never paid any dividends and does not anticipate paying dividends in the foreseeable future, and therefore used an expected dividend yield of zero in the valuation model.

Stock Options

The following table shows stock option activity during the periods indicated (in thousands except share and per share data):


	Number of options outstanding	Weighted-average exercise price		Weighted-average remaining contractual term (in years)	Aggregate intrinsic value
Balance as of December 31, 2021	8,805,850	$	6.56	8.03	$	147,623
Options granted	715,352	12.43
Options exercised	(1,224,564)	1.07
Options forfeited	(641,036)	9.85
Options expired	(76,967)	2.33
Balance as of December 31, 2022	7,578,635	$	7.76	7.42	$	37,200
Options granted	1,295,948	10.09
Options exercised	(1,099,160)	1.33
Options forfeited	(363,937)	12.36
Options expired	(191,784)	14.60
Balance as of December 31, 2023	7,219,702	$	8.74	6.90	$	23,574
Options exercisable as of December 31, 2023	4,628,353	$	7.10	6.21	$	21,212

The weighted-average grant date fair value of options granted during the year ended December 31, 2023, 2022, and 2021 were $6.64, $8.21, and $10.42 per share, respectively.

There was $20.6 million of unrecognized stock-based compensation expense related to unvested stock options as of December 31, 2023. The unrecognized stock-based compensation expense is estimated to be recognized over a period of 1.93 years as of December 31, 2023.

The Company currently uses authorized and unissued shares to satisfy option exercises.

The aggregate intrinsic value is calculated as the difference between the exercise price and the estimated fair value of the Company’s common stock as of December 31, 2023.

RSU Awards

The following table shows RSU awards activity during the periods indicated:


	Shares	Weighted-average grant date fair value per share		Weighted-average remaining contractual term (in years)	Aggregate intrinsic value (in thousands)
Unvested balance at December 31, 2021	104,876	$	21.10	2.05	$	1,704
Granted	1,361,133	12.93
Vested	(215,433)	14.51
Forfeited	(81,068)	13.03
Unvested balance at December 31, 2022	1,169,508	$	13.36	1.59	$	11,941
Granted	2,445,364	$	10.05
Vested	(624,351)	12.20
Forfeited	(382,264)	11.02
Unvested balance at December 31, 2023	2,608,257	$	10.88	1.51	$	23,787

There was $26.2 million of unrecognized stock-based compensation expense related to unvested RSU awards as of December 31, 2023. The unrecognized stock-based compensation expense is estimated to be recognized over a period of 2.99 years as of December 31, 2023.

Stock-based compensation expense

The following table shows the allocation of stock-based compensation expense related to the Company’s stock-based awards (in thousands):


	Year Ended December 31,
	2023		2022		2021
Cost of sales	$	3,212	$	2,855	$	1,508
Research and development	6,676		5,035		1,877
Sales and marketing	4,290		3,419		1,375
General and administrative	7,870		5,286		1,826
Total stock-based compensation	$	22,048	$	16,595	$	6,586

The following table shows the weighted-average valuation assumptions used in determining the fair value of employee stock options:


	Year Ended December 31,
	2023		2022		2021
Expected term (in years)	5.96		5.91		6.05
Expected volatility	71	%	75	%	90	%
Risk-free interest rate	4	%	2	%	1	%
Dividend yield	—		—		—

The following table summarizes the weighted-average assumptions used in estimating the fair value of the ESPP for the current offering period using the Black-Scholes option-pricing model:


	Year Ended December 31,
	2023		2022		2021
Expected term (in years)	0.5		0.5		0.5
Expected volatility	67	%	77	%	75	%
Risk-free interest rate	5	%	3	%	1	%
Dividend yield	—		—		—

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 2.8	$ 1.7	$ 0.9

Concentrations of Credit Risk and Other Risks and Uncertainties	12 Months Ended
	Dec. 31, 2023
Risks and Uncertainties [Abstract]
Concentrations of credit risk and other risks and uncertainties	Concentrations of credit risk and other risks and uncertainties Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents and marketable securities. The Company maintains accounts in federally insured financial institutions in excess of federally insured limits. Management believes the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which these deposits are held and of the money market funds in which these investments are made. The Company holds marketable securities with high credit ratings.

Stock-Based Compensation Plan - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding, beginning balance (in shares)		7,578,635	8,805,850
Options granted (in shares)		1,295,948	715,352
Options exercised (in shares)		(1,099,160)	(1,224,564)
Options forfeited (in shares)		(363,937)	(641,036)
Options expired (in shares)		(191,784)	(76,967)
Options outstanding, ending balance (in shares)	7,219,702	7,219,702	7,578,635	8,805,850
Options exercisable (in shares)	4,628,353	4,628,353
Weighted-average exercise price
Weighted average exercise price, beginning balance (in dollars per share)		$ 7.76	$ 6.56
Weighted average exercise price, options granted (in dollars per share)		10.09	12.43
Weighted average exercise price, options exercised (in dollars per share)	$ 6.49	1.33	1.07
Weighted average exercise price, options forfeited (in dollars per share)		12.36	9.85
Weighted average exercise price, options expired (in dollars per share)		14.60	2.33
Weighted average exercise price, ending balance (in dollars per share)	8.74	8.74	$ 7.76	$ 6.56
Weighted average exercise price, options exercisable (in dollars per share)	$ 7.10	$ 7.10
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Weighted-average remaining contractual term (in years)		6 years 10 months 24 days	7 years 5 months 1 day	8 years 10 days
Stock options exercisable, weighted average remaining contractual term		6 years 2 months 15 days
Stock options outstanding, aggregate intrinsic value, beginning balance		$ 37,200	$ 147,623
Stock options outstanding, aggregate intrinsic value, ending balance	$ 23,574	23,574	$ 37,200	$ 147,623
Stock options exercisable, aggregate intrinsic value	$ 21,212	$ 21,212

Fair Value of Financial Instruments - Additional Information (Details) $ in Millions	Dec. 31, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Marketable equity investments	$ 1.6

Debt	12 Months Ended
Debt	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	12. Debt On November 7, 2022, Cytek (Wuxi) Biosciences Co., Ltd, the Company’s China subsidiary (“Cytek Wuxi”), entered a fixed asset loan agreement with Bank of Communications, China. The loan is denominated in Chinese renminbi and collateralized by Cytek Wuxi's cash deposit to the bank. The deposit is in a separate account with Cytek Wuxi's name, but the use of such account is restricted. The Company presented the deposit as restricted cash on the audited consolidated Balance Sheets as of December 31, 2022. In April 2023, the restricted cash account was released. The purchased building in Wuxi served as collateral. The total loan amount was $2.9 million and the loan term is five years. As of December 31, 2023, the total loan amount left is $2.2 million. The current portion of the loan, $0.6 million, is included in other current liabilities. The fixed interest rate on the loan was 4.5%.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Lease

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Lease

The Company determines if an arrangement is or contains a lease at inception, which is the date on which the terms of the contract are agreed to, and the agreement creates enforceable rights and obligations. Under Topic 842, a contract is or contains a lease when (i) explicitly or implicitly identified assets have been deployed in the contract and (ii) the customer obtains substantially all of the economic benefits from the use of that underlying asset and directs how and for what purpose the asset is used during the term of the contract. The Company also considers whether its service arrangements include the right to control the use of an asset.

The Company leases office facilities and equipment from unrelated parties under operating lease agreements that have initial terms ranging from 1 to 7.25 years. Some leases include one or more options to renew, generally at the Company's sole discretion, with renewal terms that can extend the lease term up to five years. In addition, certain leases contain termination options, where the rights to terminate are held by either the Company, the lessor, or both parties. These options to extend or terminate a lease are included in the lease terms when it is reasonably certain that the Company will exercise that option. The Company’s leases generally do not contain any material restrictive covenants. The Company is a sub-lessor in an agreement with a term of three years.

Operating lease cost is recognized on a straight-line basis over the lease term. The components of lease expense are as follows (in thousands):


	Year Ended December 31, 2023		Year Ended December 31, 2022
Operating lease cost	$	3,182	$	3,539
Short-term lease cost	910		48
Total lease cost	$	4,092	$	3,587

For the year ended December 31, 2023, sublease income was $272,000, recorded as other income.

Supplemental cash flow information related to leases is as follows (in thousands):


	Year Ended December 31, 2023		Year Ended December 31, 2022
Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$	3,274	$	2,332

Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	178	$	16,852

Supplemental balance sheet information related to leases is as follows (in thousands):


	December 31, 2023		December 31, 2022
Operating lease right-of-use assets	$	10,853	$	13,883
Included in other current liabilities:
Operating lease liabilities, current	$	2,444	$	2,931
Operating lease liabilities, noncurrent	9,479		12,312
Total operating lease liabilities	$	11,923	$	15,243


Weighted-average remaining lease term - operating leases:	4.68	5.47

Weighted-average discount rate - operating leases:	2.7%	2.6%

Future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities recognized on the balance sheet as of December 31, 2023 is as follows (in thousands):


2024	$	2,721
2025	2,644
2026	2,599
2027	2,315
2028	2,047
Thereafter	348
Total lease payments	$	12,674
Less imputed interest	(751)
Total present value of lease liabilities	$	11,923

Lease (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Lease Expense

Operating lease cost is recognized on a straight-line basis over the lease term. The components of lease expense are as follows (in thousands):


	Year Ended December 31, 2023		Year Ended December 31, 2022
Operating lease cost	$	3,182	$	3,539
Short-term lease cost	910		48
Total lease cost	$	4,092	$	3,587

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases is as follows (in thousands):


	Year Ended December 31, 2023		Year Ended December 31, 2022
Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$	3,274	$	2,332

Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	178	$	16,852

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows (in thousands):


	December 31, 2023		December 31, 2022
Operating lease right-of-use assets	$	10,853	$	13,883
Included in other current liabilities:
Operating lease liabilities, current	$	2,444	$	2,931
Operating lease liabilities, noncurrent	9,479		12,312
Total operating lease liabilities	$	11,923	$	15,243


Weighted-average remaining lease term - operating leases:	4.68	5.47

Weighted-average discount rate - operating leases:	2.7%	2.6%

Schedule of Future Undiscounted Cash Flows and Reconciliation to the Lease Liabilities Recognized


2024	$	2,721
2025	2,644
2026	2,599
2027	2,315
2028	2,047
Thereafter	348
Total lease payments	$	12,674
Less imputed interest	(751)
Total present value of lease liabilities	$	11,923

Balance Sheet Details - Summary of Components of Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Customer deposits	$ 1,438	$ 1,555
Income tax payable	1,297	246
Sales and use tax payable	1,763	1,421
Operating lease liability, current	2,444	2,931
Current portion of loan	565	580
Other	396	1,227
Total other current liabilities	$ 7,903	$ 7,960
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total other current liabilities	Total other current liabilities

Acquisition

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Acquisition

On February 28, 2023, the Company completed the FCI Acquisition for an aggregate cash consideration of $44.9 million.

The FCI Acquisition expands Cytek’s product portfolio to include high-resolution cell images with the speed, sensitivity and phenotyping abilities of flow cytometry. The addition of Guava flow cytometers expand Cytek’s core instrument offerings, adding cost-effective, entry-level and personal instrument options to broaden the market and research areas it services.

The acquisition was accounted for as a business combination in accordance with ASC 805. The purchase price has been allocated to the tangible assets and identifiable intangible assets acquired and liabilities assumed based upon their estimated fair values, with the exception of contract liabilities assumed which are recognized and measured in accordance with ASC 606, Revenue from Contracts with Customers. The Company has finalized its accounting for the FCI Acquisition during the fourth quarter of 2023.

During the year ended December 31, 2023, the Company recorded the following changes as a result of measurement period adjustments to the fair value of the initial assets as follows:

•Property and equipment increased by $1.4 million

•Deferred tax assets increased by $0.6 million

•Customer relationships increased by $0.1 million

•Developed technologies increased by $0.7 million

•Trade names increased by 0.2 million

The measurement period adjustments noted above decreased goodwill by $3.0 million.

The following table summarizes the estimated fair value of assets acquired and liabilities assumed at the date of the FCI Acquisition (in thousands):


	(in thousands)
Fair value of assets acquired and liabilities assumed:
Inventories	$	18,695
Property and equipment	3,040
Prepaid expenses	70
Deferred tax assets	570
Intangible assets
Customer relationships	8,600
Amnis ImageStream developed technology	10,000
Guava easyCyte and Muse developed technology	140
Amnis FlowSight and CellStream developed technology	20
Amnis trade name	2,900
Guava trade name	90
Goodwill	6,039
Deferred revenue	(4,952)
Accrued warranty costs	(316)
Fair value of net assets acquired	$	44,896

The $6.0 million of goodwill arising from the acquisition is primarily attributed to significant time-to-market advantages, as the Company gained immediate access to the FCI Products, existing relationships and business infrastructure and knowledgeable and experienced workforce. The goodwill is deductible for tax purposes. The Company has integrated the FCI Business into its existing business structure, which is comprised of a single reportable segment and a single reporting unit.

Intangible assets identified for recognition separate from goodwill were those that satisfied either the contractual or legal criterion or the separability criterion in the accounting guidance. The identifiable intangible assets acquired and their estimated useful lives for amortization are as follows:


	Fair Value		Useful life (years)
	(In thousands, except for years)
Customer relationships	$	8,600	9
Amnis ImageStream developed technology	10,000		6
Guava easyCyte and Muse developed technology	140		2
Amnis FlowSight and CellStream developed technology	20		1
Amnis trade name	2,900		15
Guava trade name	90		3
Total	$	21,750

The customer relationships intangible asset represents the fair value of the underlying relationships with existing customers of the FCI Business. The trade name intangible asset represents the fair value of brand and name recognition associated with the marketing of the FCI Products. The FCI developed technology intangible asset represents the fair value of access to certain imaging and microcapillary technologies.

The fair value of the intangible assets acquired were estimated using variations of the income approach. The fair value of the customer relationships intangible asset was determined based on the multi-period excess earnings method and the relief-from-royalty method was utilized to estimate the fair values of the trade name and FCI developed technology intangible assets. The key assumptions used in estimating the fair values of intangible assets included forecasted financial information; customer retention rates; factors for technological obsolescence; royalty rates and discount rates. The cash flow projections were discounted using rates ranging from 29.0% to 39.0% The cash flows were based on estimates used to price the transaction, including market participant considerations, and the discount rates applied were benchmarked with reference to the implied rate of return from the transaction model and the weighted average cost of capital.

All acquired intangibles are being amortized over their estimated useful lives using the straight-line method of amortization.

The fair value assigned to the assets acquired are based on reasonable assumptions and estimates that market participants would use. Actual results may differ from these estimates and assumptions.

The results of operations for the FCI Business are included in the consolidated financial statements of the Company from the date of the acquisition. For the three and twelve months ended December 31, 2023, $9.8 million and $28.7 million of the Company's revenue were attributable to the acquired FCI Business.

The following unaudited pro forma consolidated financial information reflects the results of operations of the Company for the twelve months ended December 31, 2023 and 2022 as if the acquisition had occurred as of January 1, 2022, after giving effect to certain purchase accounting and financing adjustments. These amounts are based on financial information of the acquired business unit and are not necessarily indicative of what the Company’s operating results would have been had the acquisition taken place on January 1, 2022:


	Three months ended December 31,				Twelve months ended December 31,
(in thousands)	2023		2022		2023		2022
Revenue	$	58,605	$	48,336	$	197,964	$	193,810
Income (loss) before income taxes	5,226		4,114		(13,954)		(2,990)
Net income (loss)	$	6,357	$	3,718	$	(10,813)	$	(753)

Pro forma financial information is presented as if the operations of the acquired business unit had been included in the consolidated results of the Company since January 1, 2022 and gives effect to transactions that are directly attributable to the acquisition. Adjustments include additional depreciation and amortization expense related to the fair value of acquired property and equipment and intangible assets as if such assets were acquired on January 1, 2022. Transaction costs incurred by the Company related to the acquisition totaled approximately $1.5 million for the twelve months ended December 31, 2023, which were expensed and recorded as a component of general and administrative expenses in the consolidated statement of operations.

Legal Settlement Liability - Schedule of Legal Settlement Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Legal settlement liability	$ 2,561	$ 2,163
Legal settlement liability	16,477	15,596
Total legal settlement liability	$ 19,038	$ 17,759

Revenue from Contracts with Customers - Schedule of Information About Receivables, Customer Deposits and Deferred Revenue From Contracts With Customers (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Trade accounts receivable, net	$ 55,928	$ 48,864
Contract liabilities:
Deferred revenue	37,827	26,110
Customer deposits, which are included in 'Other current liabilities'	1,438	1,555
Total contract liabilities	$ 39,265	$ 27,665	$ 17,889	$ 7,745

Acquisition - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Feb. 28, 2023
Business Acquisition [Line Items]
Aggregate cash consideration			$ 44,900
Business acquisition, transaction costs		$ 1,500
Minimum
Business Acquisition [Line Items]
Discount rate	29.00%	29.00%
Maximum
Business Acquisition [Line Items]
Discount rate	39.00%	39.00%
Luminex Corporation
Business Acquisition [Line Items]
Business combination, provisional information, initial accounting incomplete, adjustment, property, plant, and equipment		$ 1,400
Deferred tax assets		600
Business combination, provisional information, initial accounting incomplete, adjustment, goodwill		(3,000)
Goodwill, acquired during period		6,000
Luminex Corporation \| Customer relationship
Business Acquisition [Line Items]
Business combination, provisional information, initial accounting incomplete, adjustment, intangibles		100
Luminex Corporation \| Developed Technology Rights
Business Acquisition [Line Items]
Business combination, provisional information, initial accounting incomplete, adjustment, intangibles		700
Luminex Corporation \| Trade name
Business Acquisition [Line Items]
Business combination, provisional information, initial accounting incomplete, adjustment, intangibles		200
FCI Business Unit
Business Acquisition [Line Items]
Revenue from acquired business unit	$ 9,800	$ 28,700

Common Stock - Additional Information (Details)		3 Months Ended	12 Months Ended
Common Stock - Additional Information (Details)	Jul. 16, 2021	Dec. 31, 2023 USD ($) vote $ / shares shares	Dec. 31, 2023 USD ($) vote $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($)	May 17, 2023 USD ($)	Aug. 26, 2022 USD ($)
Class Of Stock [Line Items]
Common stock, shares authorized (in shares) \| shares		1,000,000,000	1,000,000,000	1,000,000,000
Common stock, par or stated value per share (in dollar per share) \| $ / shares		$ 0.001	$ 0.001	$ 0.001
Number of vote per share \| vote		1	1
Common stock, value, issued		$ 131,000	$ 131,000	$ 135,000
Payment for repurchase of shares			$ 44,151,000	$ 0	$ 0
Weighted average exercise price, options exercised (in dollars per share) \| $ / shares		$ 6.49	$ 1.33	$ 1.07
Sales and excise tax payable		$ 300,000	$ 300,000
At Market Offering
Class Of Stock [Line Items]
Deferred offering costs		700,000	700,000
IPO
Class Of Stock [Line Items]
Stockholders' equity note, stock split, conversion ratio	1.3333
Deferred offering costs		$ 0	$ 0	$ 0
2022 Sales Agreement \| At Market Offering
Class Of Stock [Line Items]
Common stock, value, issued							$ 150,000,000
2022 Sales Agreement \| At Market Offering \| Maximum
Class Of Stock [Line Items]
Aggregate compensation payable percentage							0.03
Common stock
Class Of Stock [Line Items]
Common stock, shares authorized (in shares) \| shares		1,000,000,000	1,000,000,000
Common stock, par or stated value per share (in dollar per share) \| $ / shares		$ 0.001	$ 0.001
Stock repurchase program, authorized amount						$ 50,000,000
Stock repurchased during period, shares (in shares) \| shares		5,332,769	6,613,780
Payment for repurchase of shares		$ 34,600,000	$ 44,000,000
Weighted average exercise price, options exercised (in dollars per share) \| $ / shares			$ 6.66

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table depicts the disaggregation of revenue by sales channel mix and customer mix as defined by the nature of workflows (in thousands):


	Year Ended December 31,
	2023		2022		2021
Sales channel mix
Direct sales channel	$	147,169	$	129,098	$	110,520
Distributor channel	45,846		34,938		17,430
Total revenue, net	$	193,015	$	164,036	$	127,950

Customer mix
Academia and government	$	82,145	$	73,706	$	59,415
Biotechnology, pharmaceutical, distributor and contract research organizations	110,870		90,330		68,535
Total revenue, net	$	193,015	$	164,036	$	127,950

Schedule of Estimated Revenues Expected to Be Recognized In The Future Related To Performance Obligations


	Less than 1 year		Greater than 1 year		Total
Product revenue	$	1,336	$	—	$	1,336
Service revenue	21,359		15,132		36,491
Total revenue	$	22,695	$	15,132	$	37,827

Schedule Contract with Customer Contract Asset Contract Liability and Receivable

The following table provides information about receivables, deferred revenue from contracts with customers, and customer deposits (in thousands):


	December 31, 2023		December 31, 2022
Trade accounts receivable	$	55,928	$	48,864
Contract liabilities:
Deferred revenue	$	37,827	$	26,110
Customer deposits, which are included in 'Other current liabilities'	1,438		1,555
Total contract liabilities	$	39,265	$	27,665

The following provides a roll-forward of the contract liabilities (in thousands):


Contract liabilities
Balance at December 31, 2020	$	7,745
Revenue recognized	(15,008)
Revenue deferred	25,152
Balance at December 31, 2021	$	17,889
Revenue recognized	(24,686)
Revenue deferred	34,462
Balance at December 31, 2022	$	27,665
Revenue recognized	(36,298)
Revenue deferred	47,898
Balance at December 31, 2023	$	39,265

Revenue from Contracts with Customers - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation Of Revenue [Line Items]
Total revenue, net	$ 193,015	$ 164,036	$ 127,950
Academia and government
Disaggregation Of Revenue [Line Items]
Total revenue, net	82,145	73,706	59,415
Biotechnology, pharmaceutical, distributor and contract research organizations
Disaggregation Of Revenue [Line Items]
Total revenue, net	110,870	90,330	68,535
Customer mix
Disaggregation Of Revenue [Line Items]
Total revenue, net	193,015	164,036	127,950
Direct sales channel
Disaggregation Of Revenue [Line Items]
Total revenue, net	147,169	129,098	110,520
Distributor channel
Disaggregation Of Revenue [Line Items]
Total revenue, net	45,846	34,938	17,430
Sales channel mix
Disaggregation Of Revenue [Line Items]
Total revenue, net	$ 193,015	$ 164,036	$ 127,950

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income taxes

For the years ended December 31, 2023, 2022, and 2021, income from continuing operations before taxes consisted of amounts related to U.S. operations and income associated with the Company’s foreign operations. The geographical breakdown of the Company’s income (loss) before provision for (benefit from) income taxes is as follows (in thousands):


	2023		2022		2021
Domestic	$	(16,899)	$	(1,347)	$	(1,870)
International	1,190		2,607		7,808
(Loss) income before income taxes	$	(15,709)	$	1,260	$	5,938

Income tax expense attributable to income from continuing operations consists of (in thousands):


	2023		2022		2021
Current provisions for income taxes:
Federal	$	4,142	$	7,280	$	3,666
State	798		1,339		440
Foreign	1,528		1,442		601
Total current	$	6,468	$	10,061	$	4,707

Deferred tax expense (benefit):
Federal	$	(8,777)	$	(9,164)	$	(2,529)
State	(1,170)		(1,910)		(579)
Foreign	(82)		(211)		1,312
Total deferred tax expense (benefit)	$	(10,029)	$	(11,285)	$	(1,796)

Total provision for (benefit from) income taxes	$	(3,561)	$	(1,224)	$	2,911

Tax rate reconciliation

The following table presents a reconciliation of the federal statutory rate to the Company’s effective tax rate:


	2023		2022		2021
U.S. federal tax benefit at statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	3.4		(60.0)		(3.9)
Foreign income taxed at different rates	(0.9)		(37.9)		(9.6)
Foreign-derived intangible income deduction	9.1		(39.2)		(3.9)
Research and development credits	12.9		(146.4)		(6.6)
Tax impact of foreign earnings and losses	(1.4)		89.4		7.8
Subpart F	(5.3)		67.2		23.1
Share-based compensation	(12.2)		7.1		21.7
Other permanent adjustments	(0.8)		1.9		1.0
Prior year true up due to tax rate change	1.6		(47.1)		(0.6)
Change in valuation allowance, net	(6.5)		60.6		1.1
162M compensation	(0.7)		4.4		—
Foreign tax credit	2.1		(19.6)		—
Other	0.4		1.5		(2.2)
Effective tax rate	22.7	%	(97.1)	%	48.9	%

Significant components of deferred taxes


	2023		2022
Deferred tax assets
Net operating loss carryforwards	$	1,414	$	755
Foreign tax credit carryforward	854		492
Research and development credit carryforward	1,647		904
Stock based compensation	3,171		1,578
Legal settlement	4,458		4,050
Deferred revenue	6,061		4,415
Research and development capitalization	10,135		4,948
Inventory reserve	1,760		881
Accrued bonus	1,292		1,236
Lease liability	2,631		3,388
Other accruals	2,544		3,108
Gross deferred tax assets	35,967		25,755
Valuation allowance	(2,268)		(1,248)
Net deferred tax assets	$	33,699	$	24,507

Deferred tax liabilities
ROU assets	$	(2,392)	$	(3,053)
Depreciation and amortization	(820)		(995)
Net deferred tax liabilities	$	(3,212)	$	(4,048)

Net deferred tax assets (liabilities)	$	30,487	$	20,459

The Company assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to utilize the existing deferred tax assets. During 2020, the Company released the valuation allowance on its U.S. deferred tax assets. The Company believes its deferred tax assets are more likely than not to be realized except for one entity in China which is expected to incur tax losses due to research and development deductions available.

As of December 31, 2023, the Company maintained a valuation allowance with respect to one of its foreign subsidiary’s net operating loss that it believes is not more likely than not to be realized. The Company will continue to reassess the valuation allowance annually and if future evidence allows for a partial or full release of the valuation allowance, a tax benefit will be recorded accordingly.

As of December 31, 2023 and 2022, the Company does not have state net operating loss carryforwards. As of December 31, 2023 and 2022, the Company had state tax credit carryforwards of $3.1 million and $1.8 million, respectively, to offset future tax liability. The credit carryforwards are not subject to expiration. As of December 31, 2023 and 2022, the Company had foreign tax credit for Cytek (Shanghai) Bio Sciences Co., Ltd of $0.9 million and $0.5 million, respectively, which expires in 2027 if not utilized.

Internal Revenue Code Section 382 places a limitation on the amount of taxable income that can be offset by net operating loss carryforwards and tax credit carryforwards after a greater than 50% change in control in ownership. California has similar rules. The Company had performed a Section 382 analysis and determined that its capitalization have resulted in such a change in prior year and current year. Utilization of the net operating loss carryforwards and tax credit carryforwards had been subject to the annual limitations under IRC Section 382 and similar state provisions. The annual limitation may result in the expiration of the state net operating loss carryforwards before utilization.

Uncertain Tax Positions

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands):


	2023		2022		2021
Unrecognized tax benefits as of the beginning of the year	$	2,235	$	1,321	$	737
Increases related to prior year tax provisions	217		298		65
Increase related to current year tax provisions	1,183		616		519
Unrecognized tax benefits as of the end of the year	$	3,635	$	2,235	$	1,321

The Company accounts for uncertain tax positions under ASC 740. As of December 31, 2023, 2022 and 2021, there was approximately $3.6 million, $2.2 million and $1.3 million of unrecognized tax benefits, respectively. Of the unrecognized tax benefits, $3.4 million, $2.0 million and $1.1 million represents the amount that if recognized, would favorably affect the effective income tax rate in 2023, 2022 and 2021, respectively. The Company does not expect a significant change to its unrecognized tax benefits or recorded liabilities over the next twelve months. The unrecognized tax benefits may increase or change during the next year for items that arise in the ordinary course of business.

The Company files income tax returns in U.S. federal jurisdiction, various state jurisdictions and foreign jurisdictions. The U.S., state and foreign jurisdictions have statutes of limitations that generally range from three to five years. The Company’s federal, state and foreign income tax returns are subject to examination unless the statutes of limitations close. The Company is not currently under examination for federal, state or foreign income tax purposes.

As of December 31, 2023, the Company’s management is asserting that it is their intent to indefinitely reinvest unremitted foreign earnings for all its foreign entities.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets
Net operating loss carryforwards	$ 1,414	$ 755
Foreign tax credit carryforward	854	492
Research and development credit carryforward	1,647	904
Stock based compensation	3,171	1,578
Legal settlement	4,458	4,050
Deferred revenue	6,061	4,415
Research and development capitalization	10,135	4,948
Inventory reserve	1,760	881
Accrued bonus	1,292	1,236
Lease liability	2,631	3,388
Other accruals	2,544	3,108
Gross deferred tax assets	35,967	25,755
Valuation allowance	(2,268)	(1,248)
Net deferred tax assets	33,699	24,507
Deferred tax liabilities
ROU assets	(2,392)	(3,053)
Depreciation and amortization	(820)	(995)
Net deferred tax liabilities	(3,212)	(4,048)
Net deferred tax assets (liabilities)	$ 30,487	$ 20,459

Consolidated Balance Sheets $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Current assets:
Cash and cash equivalents	$ 167,299	$ 296,601
Restricted cash	331	2,899
Marketable securities	95,111	44,548
Trade accounts receivable, net	55,928	48,864
Inventories	60,877	48,154
Prepaid expenses and other current assets	12,514	12,954
Total current assets	392,060	454,020
Deferred income tax assets, noncurrent	30,487	20,459
Property and equipment, net	18,405	13,682
Operating lease right-of-use assets	10,853	13,883
Goodwill	16,183	10,144
Intangible assets, net	23,084	4,331
Other noncurrent assets	3,385	2,957
Total assets	494,457	519,476
Current liabilities:
Trade accounts payable	3,032	4,805
Legal settlement liability, current	2,561	2,163
Accrued expenses	20,035	21,126
Other current liabilities	7,903	7,960
Deferred revenue, current	22,695	12,986
Total current liabilities	56,226	49,040
Legal settlement liability, noncurrent	16,477	15,596
Deferred revenue, noncurrent	15,132	13,124
Operating lease liability, noncurrent	9,479	12,312
Long term debt	1,648	2,271
Other noncurrent liabilities	2,431	1,587
Total liabilities	101,393	93,930
Commitments and contingencies (Note 18)
Stockholders’ equity:
Common stock, $0.001 par value; 1,000,000,000 authorized shares as of December 31, 2023 and December 31, 2022, respectively; 130,714,906 and 135,365,381 issued and outstanding shares as of December 31, 2023 and December 31, 2022, respectively.	131	135
Additional paid-in capital	423,386	442,887
Accumulated deficit	(29,178)	(17,030)
Accumulated other comprehensive loss	(1,275)	(697)
Noncontrolling interest in consolidated subsidiary	0	251
Total stockholders’ equity	393,064	425,546
Total liabilities and stockholders’ equity	$ 494,457	$ 519,476

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2023	Feb. 16, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-40632
Entity Registrant Name	CYTEK BIOSCIENCES, INC.
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	47-2547526
Entity Address Address Line1	47215 Lakeview Blvd.
Entity Address City Or Town	Fremont
Entity Address, State and Province	CA
Entity Address Postal Zip Code	94538
City Area Code	877
Local Phone Number	922-9835
Security12b Title	Common Stock, par value $0.001 per share
Trading Symbol	CTKB
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 1,030
Entity Common Stock, Shares Outstanding		130,824,069
Documents Incorporated by Reference	Portions of the Registrant’s Definitive Proxy Statement relating to the Registrant’s 2024 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission within 120 days after the end of the Registrant’s fiscal year ended December 31, 2023
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001831915

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]

Schedule of Financial Instruments Measured on Recurring Basis

The following

table sets forth the fair value of the Company’s financial assets and liabilities by level within the fair value hierarchy (in thousands):


Description:	December 31, 2023		Quoted prices in active markets for identical assets (level 1)		Significant other observable inputs (level 2)		Significant unobservable inputs (level 3)
Cash equivalents:
Money market funds	$	144,892	$	144,892	$	—	$	—
Short-term investments:
U.S. Treasury	47,366		47,366		—		—
Federal agency securities	35,818		—		35,818		—
Commercial paper	11,927		—		11,927		—
Total	$	240,003	$	192,258	$	47,745	$	—


	December 31, 2022		Quoted prices in active markets for identical assets (level 1)		Significant other observable inputs (level 2)		Significant unobservable inputs (level 3)
Cash equivalents:
U.S. Treasury	$	29,930	$	29,930	$	—	$	—
Federal agency securities	19,908		—		19,908		—
Commercial paper	5,955		—		5,955
Money market funds	117,437		117,437		—		—
Short-term investments:
U.S. Treasury	9,786		9,786		—		—
Federal agency securities	11,626		—		11,626		—
Commercial paper	23,136		—		23,136		—
Total	$	217,778	$	157,153	$	60,625	$	—

Stock-Based Compensation Plan - Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions (Details) - Share-based Payment Arrangement, Option	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	5 years 11 months 15 days	5 years 10 months 28 days	6 years 18 days
Expected volatility	71.00%	75.00%	90.00%
Risk-free interest rate	4.00%	2.00%	1.00%
Dividend yield	0.00%	0.00%	0.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Subsequent Events - Additional Information (Details) - Subsequent Event $ in Thousands, ¥ in Millions	Feb. 29, 2024 USD ($) lease	Feb. 28, 2024 USD ($)	Feb. 28, 2024 CNY (¥)	Jan. 16, 2024 USD ($)	Jan. 16, 2024 CNY (¥)
Subsequent Event [Line Items]
Number of early termination leased properties \| lease	1
Gain (loss) on contract termination	$ (100)
Reduction on future lease payment	$ 200
Revolving Credit Facility \| Line of Credit
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity				$ 2,800	¥ 20
Revolving Credit Facility \| Line of Credit
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity		$ 1,400	¥ 10	5,700	40
Debt instrument term		1 year
Debt instrument, interest rate, stated percentage		345.00%	345.00%
Revolving Credit Facility \| Line of Credit \| Building
Subsequent Event [Line Items]
Debt instrument, collateral amount				$ 2,800	¥ 20

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2023

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]

Fair value of financial instruments

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The categorization of a financial instrument within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The following

table sets forth the fair value of the Company’s financial assets and liabilities by level within the fair value hierarchy (in thousands):


Description:	December 31, 2023		Quoted prices in active markets for identical assets (level 1)		Significant other observable inputs (level 2)		Significant unobservable inputs (level 3)
Cash equivalents:
Money market funds	$	144,892	$	144,892	$	—	$	—
Short-term investments:
U.S. Treasury	47,366		47,366		—		—
Federal agency securities	35,818		—		35,818		—
Commercial paper	11,927		—		11,927		—
Total	$	240,003	$	192,258	$	47,745	$	—


	December 31, 2022		Quoted prices in active markets for identical assets (level 1)		Significant other observable inputs (level 2)		Significant unobservable inputs (level 3)
Cash equivalents:
U.S. Treasury	$	29,930	$	29,930	$	—	$	—
Federal agency securities	19,908		—		19,908		—
Commercial paper	5,955		—		5,955
Money market funds	117,437		117,437		—		—
Short-term investments:
U.S. Treasury	9,786		9,786		—		—
Federal agency securities	11,626		—		11,626		—
Commercial paper	23,136		—		23,136		—
Total	$	217,778	$	157,153	$	60,625	$	—

The Company did not have any transfers of financial assets measured at fair value on a recurring basis to or from Level 1, Level 2 or Level 3 for any of the periods presented.

The table above does not include the Company's investments in privately held equity securities. Non-marketable equity investments of $1.6 million are included within Other noncurrent assets on the consolidated balance sheet as of December 31, 2023.

Basis of Presentation and Summary of Significant Accounting Policies - Summary of Useful Life of Property Plant and Equipment (Details)	Dec. 31, 2023
Building
Accounting Policies [Line Items]
Estimated Useful Lives	20 years
Furniture and fixtures
Accounting Policies [Line Items]
Estimated Useful Lives	7 years
Laboratory equipment
Accounting Policies [Line Items]
Estimated Useful Lives	5 years
Office and computer equipment
Accounting Policies [Line Items]
Estimated Useful Lives	3 years

Net (Loss) Income Attributable to Common Stockholders Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Net (loss) income attributable to common stockholders per share

The following table sets forth the computation of the Company’s basic and diluted net (loss) income attributable to common stockholders per share for the year ended December 31, 2023, 2022, and 2021 (in thousands except share and per share data):


	Year Ended December 31,
	2023		2022		2021
Numerator
Net (loss) income	$	(12,148)	$	2,484	$	3,027
Less: net loss (income) allocated to noncontrolling interests	—		92		(26)
Less: net income allocated to participating securities	—		—		(3,001)

Net (loss) income attributable to common stockholders, basic and diluted	$	(12,148)	$	2,576	$	—

Denominator
Weighted-average common shares outstanding, attributable to common stockholders, basic	135,283,044		134,510,831		76,741,858
Effect of employee stock plans	—		4,051,280		4,800,871
Weighted-average common shares outstanding, attributable to common stockholders, diluted	135,283,044		138,562,111		81,542,729

Net (loss) income attributable to common stockholders per share, basic	$	(0.09)	$	0.02	$	—
Net (loss) income attributable to common stockholders per share, diluted	$	(0.09)	$	0.02	$	—

Share-based compensation awards of approximately 9.0 million, 3.5 million, and 2.3 million shares for the years ended December 31, 2023, 2022, and 2021, respectively, were outstanding but were not included in the computation of diluted net income (loss) per share attributable to Cytek Biosciences, Inc. common stockholders, because the effect of including such shares would have been anti-dilutive in the periods presented.

Stock-based compensation plan - Schedule of RSU Awards Activty (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Weighted-average grant date fair value per share
Weighted-average remaining contractual term (in years)	6 years 10 months 24 days	7 years 5 months 1 day	8 years 10 days
Aggregate intrinsic value (in thousands)	$ 23,574	$ 37,200	$ 147,623
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested balance, beginning balance (in shares)	1,169,508	104,876
Granted (in shares)	2,445,364	1,361,133
Vested (in shares)	(624,351)	(215,433)
Forfeited (in shares)	(382,264)	(81,068)
Unvested balance, ending balance (in shares)	2,608,257	1,169,508	104,876
Weighted-average grant date fair value per share
Weighted average grant date fair value per share, beginning balance (in dollars per share)	$ 13.36	$ 21.10
Weighted average grant date fair value per share, granted (in dollars per share)	10.05	12.93
Weighted average grant date fair value per share, vested (in dollars per share)	12.20	14.51
Weighted average grant date fair value per share, forfeited (in dollars per share)	11.02	13.03
Weighted average grant date fair value per share, ending balance (in dollars per share)	$ 10.88	$ 13.36	$ 21.10
Weighted-average remaining contractual term (in years)	1 year 6 months 3 days	1 year 7 months 2 days	2 years 18 days
Aggregate intrinsic value (in thousands)	$ 23,787	$ 11,941	$ 1,704

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net (loss) income	$ (12,148)	$ 2,484	$ 3,027
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	6,048	2,492	1,242
Amortization of operating lease-right-of use assets	3,182	3,167	0
Allowance for credit losses	269	102	0
Stock-based compensation	22,048	16,595	6,586
Gain on equity method investment	0	0	(40)
Loss on disposal of property and equipment	7	0	0
Loss on lease exit cost		0	283
Provision for excess and obsolete inventory	1,468	756	488
Gain on investments, accretion, and amortization, net	(6,661)	(77)	0
Interest expenses for accretion of the legal settlement liabilities	1,577	2,178	1,690
Change in operating assets and liabilities:
Trade accounts receivable	(7,332)	(19,744)	(12,367)
Inventories	4,286	(17,653)	(7,068)
Prepaid expenses and other assets	(9,515)	(19,362)	(6,252)
Trade accounts payable	(1,784)	1,862	(256)
Accrued expenses and other liabilities	729	7,470	10,978
Legal settlement liabilities	(298)	373	(3,693)
Deferred revenue	6,520	9,411	10,012
Lease liabilities	(3,115)	(2,285)	0
Net cash provided by (used in) operating activities	5,281	(12,231)	4,630
Cash flows from investing activities:
Purchases of marketable securities	(175,935)	(44,454)	0
Maturities of marketable securities	132,000	0	0
Purchase of property and equipment	(4,648)	(9,748)	(4,364)
Acquisition of business	(44,896)	0	(17,000)
Purchase of intangible assets (patents)	(179)	(120)	0
Payment for investment	0	(1,587)	0
Payment for additional investment in Cytek Japan, net of cash acquired	(236)	0	371
Net cash used in investing activities	(93,894)	(55,909)	(20,993)
Cash flows from financing activities:
Repayment of Paycheck Protection Program loan	0	0	(2,772)
Proceeds from initial public offering, net of underwriting discounts and commissions and other offering costs	0	0	215,689
Payment for repurchase of shares	(44,151)	0	0
Proceeds from loan	0	2,983	0
Repayment of loan	(565)	(50)	0
Proceeds from Employee Stock Purchase Plan	1,855	1,585	0
Payments for taxes related to net share settlement of equity awards	(419)	(209)	0
Proceeds from issuance of common stock under employee stock plans	1,468	1,204	642
Net cash (used in) provided by financing activities	(41,812)	5,513	213,559
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(1,445)	(2,491)	1,303
Cash, cash equivalents and restricted cash:
Net (decrease) increase in cash, cash equivalents and restricted cash	(131,870)	(65,118)	198,499
Cash, cash equivalents and restricted cash at beginning of period	299,500	364,618	166,119
Cash, cash equivalents and restricted cash at end of period	167,630	299,500	364,618
Supplemental disclosure of cash flow information:
Cash paid for taxes	5,305	10,390	2,863
Non-cash investing and financing activities:
Fixed asset purchases in accounts payable at period end	40	67	134
Intangible asset in accrued expenses at period end	510	30	93
Accrued excise taxes for share repurchase	320	0	0
Stock option exercise in other receivables at period end	$ 0	$ 96	$ 0

Balance Sheet Details

12 Months Ended

Dec. 31, 2023

Balance Sheet Related Disclosures [Abstract]

Balance sheet details

Inventories

The following table shows the components of inventory (in thousands):


	December 31, 2023		December 31, 2022
Raw materials	$	35,718	$	26,925
Work in progress	10,454		4,897
Finished goods	14,705		16,332
Total inventories	$	60,877	$	48,154

Prepaid expenses and other current assets

The following table shows the components of prepaid expenses and other current assets (in thousands):


	December 31, 2023		December 31, 2022
Prepaid expenses:
Prepaid inventory	$	292	$	621
Prepaid rent	255		293
Prepaid insurance	990		1,466
Prepaid income tax	5,813		2,080
Other	2,742		2,687
Other current assets:
Tax refund receivable	192		2,011
Other	2,230		3,796
Total prepaid expenses and other current assets	$	12,514	$	12,954

Accrued expenses

The following table shows the components of accrued expenses (in thousands):


	December 31, 2023		December 31, 2022
Accrued expenses:
Accrued compensation and related benefits	$	13,748	$	13,911
Professional service fees	665		1,276
Purchases	1,871		2,457
Product warranty	2,805		2,126
Other	946		1,356
Total accrued expenses	$	20,035	$	21,126

For the product warranty analysis refer to Note 20.

Other current liabilities

The following table shows the components of other current liabilities (in thousands):


	December 31, 2023		December 31, 2022
Other current liabilities:
Customer deposits	$	1,438	$	1,555
Income tax payable	1,297		246
Sales and use tax payable	1,763		1,421
Operating lease liability, current	2,444		2,931
Current portion of loan	565		580
Other	396		1,227
Total other current liabilities	$	7,903	$	7,960

Product Warranty

12 Months Ended

Dec. 31, 2023

Product Warranties Disclosures [Abstract]

Product warranty

The following table shows the activity in the product warranty accrual included in accrued expenses on the consolidated balance sheets (in thousands):


	December 31, 2023		December 31, 2022
Balance, beginning of the period	$	2,126	$	1,760
Accrual for current year warranties	3,540		2,841
Warranty cost incurred	(2,861)		(2,475)
Balance, end of period	$	2,805	$	2,126

Acquisition - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Feb. 28, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 16,183		$ 10,144
Luminex Corporation
Business Acquisition [Line Items]
Inventories		$ 18,695
Property and equipment		3,040
Prepaid expenses		70
Deferred tax assets		570
Goodwill		6,039
Deferred revenue		(4,952)
Accrued warranty costs		(316)
Fair value of net assets acquired		44,896
Luminex Corporation \| Customer relationship
Business Acquisition [Line Items]
Intangible assets		8,600
Luminex Corporation \| Amnis ImageStream developed technology
Business Acquisition [Line Items]
Intangible assets		10,000
Luminex Corporation \| Guava easyCyte and Muse developed technology
Business Acquisition [Line Items]
Intangible assets		140
Luminex Corporation \| Amnis FlowSight and CellStream developed technology
Business Acquisition [Line Items]
Intangible assets		20
Luminex Corporation \| Amnis trade name
Business Acquisition [Line Items]
Intangible assets		2,900
Luminex Corporation \| Guava trade name
Business Acquisition [Line Items]
Intangible assets		$ 90

Product Warranty (Tables)

12 Months Ended

Dec. 31, 2023

Product Warranties Disclosures [Abstract]

Schedule of Product Warranty Liability

The following table shows the activity in the product warranty accrual included in accrued expenses on the consolidated balance sheets (in thousands):


	December 31, 2023		December 31, 2022
Balance, beginning of the period	$	2,126	$	1,760
Accrual for current year warranties	3,540		2,841
Warranty cost incurred	(2,861)		(2,475)
Balance, end of period	$	2,805	$	2,126

Geographic Areas

12 Months Ended

Dec. 31, 2023

Segments, Geographical Areas [Abstract]

Geographic areas

The Company sells its products worldwide and attributes revenue to the geography where the product is delivered. The geographical distribution of revenue for the year ended December 31, 2023, 2022, and 2021 was as follows (in thousands):


	Year Ended December 31,
	2023		2022		2021
United States	$	102,085	$	94,592	$	72,724
EMEA	53,178		43,958		36,967
APAC	31,598		22,523		16,078
Other	6,154		2,963		2,181
Total revenue, net	$	193,015	$	164,036	$	127,950

EMEA includes Europe, the Middle East and Africa; APAC includes Asia and the Pacific countries; Other includes Canada and Latin America.

For the year ended December 31, 2023 and 2022, the Company had no major customers.

As of December 31, 2023 and December 31, 2022, the Company’s long-lived assets by geographic area were as follows (in thousands):


	December 31, 2023		December 31, 2022

United States	$	8,814	$	6,426
EMEA	325		—
APAC	9,266		7,256
Total	$	18,405	$	13,682

As of December 31, 2023 and December 31, 2022, most of the Company’s long-lived assets were located in the United States and in Wuxi, China.

Common Stock	12 Months Ended
Common Stock	Dec. 31, 2023
Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]
Common stock	Common stock As of December 31, 2023, the Company has authorized 1,000,000,000 shares of common stock at $0.001 par value. Holders of common stock are entitled to one vote per share, and to receive dividends, only and if declared by the Board of Directors and, upon liquidation or dissolution, are entitled to receive all assets available for distribution to stockholders, subordinate to the rights, preferences and privileges of any outstanding Preferred Stock with respect to dividends and in connection with a liquidation, winding up and dissolution of the Company. The holders have no preemptive or other subscription rights. On July 16, 2021, the Board and the Company’s stockholders approved an amendment and restatement of the Company’s certificate of incorporation to effect a 1.3333-for-1 stock split of its common stock and redeemable convertible preferred stock, which became effective upon filing with the Secretary of State of the State of Delaware on July 16, 2021. On July 16, 2021, the Board and the Company’s stockholders approved an amendment and restatement of the Company’s certificate of incorporation, which became effective immediately following the closing of the Company's initial public offering (“IPO”) and filing with the Secretary of State of the State of Delaware on July 27, 2021. On August 26, 2022, the Company filed with the SEC an automatic shelf registration statement on Form S-3ASR (File No. 333-267118) (the “Registration Statement”). In connection with the filing of the Registration Statement, the Company also entered into a sales agreement (the “2022 Sales Agreement”) with Piper Sandler & Co. (“Piper”) as sales agent to sell from time to time up to $150 million of the Company’s common stock through an “at-the-market” offering program as defined in Rule 415 promulgated under the Securities Act of 1933, as amended (the “Securities Act”). Pursuant to the terms of the 2022 Sales Agreement, the aggregate compensation payable to Piper is up to 3% of the gross proceeds from the sale of common stock sold by Piper pursuant to the 2022 Sales Agreement. Each party agreed in the 2022 Sale Agreement to provide indemnification and contribution against certain liabilities, including liabilities under the Securities Act, subject to the terms of the 2022 Sales Agreement. As of December 31, 2023, the Company has not made any sales of common stock pursuant to the 2022 Sales Agreement. Accordingly, $0.7 million in transaction expenses recorded as prepaid offering costs have not yet been expensed in transaction expenses recorded. On May 17, 2023, the Board approved a program for the repurchase by the Company of up to an aggregate of $50 million of its outstanding common stock. During the three months ended December 31, 2023, the Company repurchased 5,332,769 shares of its outstanding common stock for a total cost of approximately $34.6 million at an average price per share of $6.49. During the twelve months ended December 31, 2023, the Company repurchased 6,613,780 shares of its outstanding common stock for a total cost of approximately $44.0 million at an average price per share of $6.66. The commissions costs related with the repurchases were $0.1 million for both the three months and twelve months ended December 31, 2023. The repurchase program was used to return capital to shareholders and to minimize the dilutive impact of stock options and other share-based awards. The repurchased shares of common stock were retired. The repurchase program expired on December 31, 2023. On August 16, 2022, the Inflation Reduction Act of 2022, or IRA, was signed into law. Among other things, the IRA imposes a 15% corporate alternative minimum tax for tax years beginning after December 31, 2022, levies a 1% excise tax on net stock repurchases after December 31, 2022, and provides tax incentives to promote clean energy. Beginning in 2023, net stock repurchases are subject to the excise tax. As of December 31, 2023, we have accrued $0.3 million excise taxes related with our shares buy back.

Net (Loss) Income Attributable to Common Stockholders Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Computation of the Basic and Diluted Net Loss Per Share Attributable to Common Stockholders


	Year Ended December 31,
	2023		2022		2021
Numerator
Net (loss) income	$	(12,148)	$	2,484	$	3,027
Less: net loss (income) allocated to noncontrolling interests	—		92		(26)
Less: net income allocated to participating securities	—		—		(3,001)

Net (loss) income attributable to common stockholders, basic and diluted	$	(12,148)	$	2,576	$	—

Denominator
Weighted-average common shares outstanding, attributable to common stockholders, basic	135,283,044		134,510,831		76,741,858
Effect of employee stock plans	—		4,051,280		4,800,871
Weighted-average common shares outstanding, attributable to common stockholders, diluted	135,283,044		138,562,111		81,542,729

Net (loss) income attributable to common stockholders per share, basic	$	(0.09)	$	0.02	$	—
Net (loss) income attributable to common stockholders per share, diluted	$	(0.09)	$	0.02	$	—

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)		12 Months Ended
	Jul. 27, 2021 USD ($)	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 EUR (€)	Aug. 26, 2022 USD ($)	Jan. 01, 2022 USD ($)	Dec. 31, 2020 USD ($)
Accounting Policies [Line Items]
Variable interest entity ownership percentage		50.00%
Number of reportable segments \| segment		1
Number of operating segments \| segment		1
Cash, cash equivalents, restricted cash, and restricted cash equivalents		$ 167,630,000	$ 299,500,000	$ 364,618,000				$ 166,119,000
Cash, FDIC insured amount		250,000	250,000
Restricted cash		$ 331,000	2,899,000		€ 299,579.5
Upfront and payment terms.		30 days
Total revenue, net		$ 193,015,000	164,036,000	127,950,000
Offering related transaction costs	$ 5,300,000
Common stock, $0.001 par value; 1,000,000,000 authorized shares as of December 31, 2023 and December 31, 2022, respectively; 130,714,906 and 135,365,381 issued and outstanding shares as of December 31, 2023 and December 31, 2022, respectively.		131,000	135,000
Advertising, marketing and media expenses		3,400,000	2,500,000	1,800,000
Operating lease right-of-use assets		10,853,000	13,883,000				$ 14,600,000
Operating lease liability		11,923,000	15,243,000				$ 15,200,000
Product
Accounting Policies [Line Items]
Total revenue, net		156,717,000	148,600,000	119,519,000
Unearned revenue		5,400,000	5,900,000
Bill-and-hold arrangements
Accounting Policies [Line Items]
Total revenue, net		$ 14,900,000	12,100,000	$ 0
Minimum
Accounting Policies [Line Items]
Trade accounts receivable		30 days
Delivery and payment terms		30 days			30 days
Service contracts terms		1 year
Maximum
Accounting Policies [Line Items]
Trade accounts receivable		45 days
Delivery and payment terms		90 days			90 days
Service contracts terms		3 years
IPO
Accounting Policies [Line Items]
Deferred offering costs		$ 0	$ 0
At Market Offering
Accounting Policies [Line Items]
Deferred offering costs		$ 700,000
At Market Offering \| 2022 Sales Agreement
Accounting Policies [Line Items]
Common stock, $0.001 par value; 1,000,000,000 authorized shares as of December 31, 2023 and December 31, 2022, respectively; 130,714,906 and 135,365,381 issued and outstanding shares as of December 31, 2023 and December 31, 2022, respectively.						$ 150,000,000
At Market Offering \| Maximum \| 2022 Sales Agreement
Accounting Policies [Line Items]
Aggregate compensation payable percentage						0.03

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2023
Related Party Transactions [Abstract]
Related party transactions	Related party transactions On May 7, 2022, the Company’s wholly-owned Hong Kong subsidiary (“Cytek HK”) completed an investment of $1.6 million in Tianjin Deep Analysis Intelligent Technology Development Co., Ltd, a company incorporated under the laws of the People’s Republic of China (“DeepCyto”) in consideration for the issuance of Series A preferred shares of DeepCyto, representing an ownership interest of approximately 3.3%. At the time of the investment, an entity affiliated with Northern Light Venture Capital (“NLVC”) had a significant ownership interest in DeepCyto and a representative serving on the DeepCyto board of directors. The founding managing partner of NLVC served as a member of the Company’s board of directors until June 1, 2022.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Acquisition (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair value of assets acquired and liabilities assumed at the date of the FCI Acquisition (in thousands):


	(in thousands)
Fair value of assets acquired and liabilities assumed:
Inventories	$	18,695
Property and equipment	3,040
Prepaid expenses	70
Deferred tax assets	570
Intangible assets
Customer relationships	8,600
Amnis ImageStream developed technology	10,000
Guava easyCyte and Muse developed technology	140
Amnis FlowSight and CellStream developed technology	20
Amnis trade name	2,900
Guava trade name	90
Goodwill	6,039
Deferred revenue	(4,952)
Accrued warranty costs	(316)
Fair value of net assets acquired	$	44,896

Schedule of Identifiable Intangible Assets Acquired and Their Estimated Useful Lives for Amortization

The identifiable intangible assets acquired and their estimated useful lives for amortization are as follows:


	Fair Value		Useful life (years)
	(In thousands, except for years)
Customer relationships	$	8,600	9
Amnis ImageStream developed technology	10,000		6
Guava easyCyte and Muse developed technology	140		2
Amnis FlowSight and CellStream developed technology	20		1
Amnis trade name	2,900		15
Guava trade name	90		3
Total	$	21,750

Business Acquisition, Pro Forma Information


	Three months ended December 31,				Twelve months ended December 31,
(in thousands)	2023		2022		2023		2022
Revenue	$	58,605	$	48,336	$	197,964	$	193,810
Income (loss) before income taxes	5,226		4,114		(13,954)		(2,990)
Net income (loss)	$	6,357	$	3,718	$	(10,813)	$	(753)

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On January 16, 2024, the Company signed a maximum credit agreement with Bank of Communications, China. for 40 million Chinese renminbi (approximately US $5.7 million). This credit is collateralized by the Wuxi building purchased in November 2023 as disclosed in Note 12. Among the total 40 million renminbi (approximately US $5.7 million), 20 million Chinese renminbi (approximately US $2.8 million) served as collateral for the loan. The remaining 20 million Chinese renminbi (approximately US $2.8 million) can be borrowed, as needed, as a short-term loan for normal business operation requirements. The line of credit is available from December 25, 2023 to December 25, 2024. On February 28, 2024, Cytek (Wuxi) Biosciences Co., Ltd, the Company’s China subsidiary (“Cytek Wuxi”), based on the above mentioned line of credit, entered a one year loan agreement with Bank of Communications, China. The loan is denominated in Chinese renminbi and collateralized by the building purchased by Cytek Wuxi in November, 2023. The total loan amount was 10 million Chinese renminbi (approximately US $1.4 million) and the interest rate is fixed at 3.45%. The loan effective term is February 28, 2024 to February 28, 2025. The interest expenses will be paid on a monthly basis. The loan will be used to pay employees' payroll or suppliers' invoices. On February 29, 2024, the Company exercised its right to terminate one of its Seattle, Washington leases. Pursuant to the early termination provision in the lease agreement, the Company paid an early termination fee of $0.1 million. Accordingly, the lease will expire on August 31, 2024 rather than on its original expiration date of December 31, 2026. This reduces our future lease payments of $0.2 million.

Geographic Areas (Tables)

12 Months Ended

Dec. 31, 2023

Segments, Geographical Areas [Abstract]

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

The geographical distribution of revenue for the year ended December 31, 2023, 2022, and 2021 was as follows (in thousands):


	Year Ended December 31,
	2023		2022		2021
United States	$	102,085	$	94,592	$	72,724
EMEA	53,178		43,958		36,967
APAC	31,598		22,523		16,078
Other	6,154		2,963		2,181
Total revenue, net	$	193,015	$	164,036	$	127,950

EMEA includes Europe, the Middle East and Africa; APAC includes Asia and the Pacific countries; Other includes Canada and Latin America.

For the year ended December 31, 2023 and 2022, the Company had no major customers.

As of December 31, 2023 and December 31, 2022, the Company’s long-lived assets by geographic area were as follows (in thousands):


	December 31, 2023		December 31, 2022

United States	$	8,814	$	6,426
EMEA	325		—
APAC	9,266		7,256
Total	$	18,405	$	13,682

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment, Net

The following table shows the components of property and equipment, net (in thousands):


	December 31, 2023		December 31, 2022
Laboratory equipment	$	9,472	$	4,777
Leasehold improvements	3,623		3,481
Building and land	7,653		5,553
Construction in progress	256		178
Office and computer equipment	1,235		890
Furniture and fixtures	2,086		1,962
Total property and equipment	24,325		16,841
Less: accumulated depreciation	(5,920)		(3,159)
Property and equipment, net	$	18,405	$	13,682

Lease - Schedule of Future Undiscounted Cash Flows and Reconciliation to the Lease Liabilities Recognized (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
2024	$ 2,721
2025	2,644
2026	2,599
2027	2,315
2028	2,047
Thereafter	348
Total lease payments	12,674
Less imputed interest	(751)
Total operating lease liabilities	$ 11,923	$ 15,243	$ 15,200

Investments - Schedule of Available for Sale Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	$ 95,124	$ 44,532
Gross Unrealized Gains	19	18
Gross Unrealized Loss	(32)	(1)
Fair Value	95,111	44,549
U.S. Treasury
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	47,347	9,783
Gross Unrealized Gains	19	3
Gross Unrealized Loss	0	0
Fair Value	47,366	9,786
Federal agency securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	35,840	11,613
Gross Unrealized Gains	0	15
Gross Unrealized Loss	(22)	(1)
Fair Value	35,818	11,627
Commercial paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	11,937	23,136
Gross Unrealized Gains	0	0
Gross Unrealized Loss	(10)	0
Fair Value	$ 11,927	$ 23,136

Legal Settlement Liability - Additional Information (Details) - USD ($) $ in Thousands		12 Months Ended
	Oct. 06, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Upfront payment	$ 2,000
Royalty payment duration	10 years
Mile stone payment	$ 6,000
Common stock, shares issued (in shares)		130,714,906	135,365,381
Cost of sales related to royalty expense		$ 0	$ 600	$ 3,300
Litigation settlement interest		$ 1,600	2,200	$ 1,700
Settlement liabilities, payment period		10 years
Legal settlement liability, current		$ 2,561	2,163
Patent
Loss Contingencies [Line Items]
Finite-lived intangible asset, average useful life		18 months
Settlement Liability
Loss Contingencies [Line Items]
Legal settlement liability, current		$ 19,000	$ 17,800
BD
Loss Contingencies [Line Items]
Shares offered (in shares)					2,087,545
Common stock
Loss Contingencies [Line Items]
Common stock, shares issued (in shares)					2,087,545

Fair Value of Financial Instruments - Schedule of Financial Instruments Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 240,003	$ 217,778
Quoted prices in active markets for identical assets (level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	192,258	157,153
Significant other observable inputs (level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	47,745	60,625
Significant unobservable inputs (level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Money market funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure		117,437
Money market funds \| Quoted prices in active markets for identical assets (level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure		117,437
Money market funds \| Significant other observable inputs (level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure		0
Money market funds \| Significant unobservable inputs (level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure		0
Money market funds \| Cash equivalents
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	144,892	117,437
Money market funds \| Cash equivalents \| Quoted prices in active markets for identical assets (level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	144,892	117,437
Money market funds \| Cash equivalents \| Significant other observable inputs (level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Money market funds \| Cash equivalents \| Significant unobservable inputs (level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
U.S. Treasury \| Cash equivalents
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure		29,930
U.S. Treasury \| Cash equivalents \| Quoted prices in active markets for identical assets (level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure		29,930
U.S. Treasury \| Cash equivalents \| Significant other observable inputs (level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure		0
U.S. Treasury \| Cash equivalents \| Significant unobservable inputs (level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure		0
U.S. Treasury \| Short-term investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	47,366	9,786
U.S. Treasury \| Short-term investments \| Quoted prices in active markets for identical assets (level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	47,366	9,786
U.S. Treasury \| Short-term investments \| Significant other observable inputs (level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
U.S. Treasury \| Short-term investments \| Significant unobservable inputs (level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Federal agency securities \| Cash equivalents
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure		19,908
Federal agency securities \| Cash equivalents \| Quoted prices in active markets for identical assets (level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure		0
Federal agency securities \| Cash equivalents \| Significant other observable inputs (level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure		19,908
Federal agency securities \| Cash equivalents \| Significant unobservable inputs (level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure		0
Federal agency securities \| Short-term investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	35,818	11,626
Federal agency securities \| Short-term investments \| Quoted prices in active markets for identical assets (level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Federal agency securities \| Short-term investments \| Significant other observable inputs (level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	35,818	11,626
Federal agency securities \| Short-term investments \| Significant unobservable inputs (level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Commercial paper \| Cash equivalents
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure		5,955
Commercial paper \| Cash equivalents \| Quoted prices in active markets for identical assets (level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure		0
Commercial paper \| Cash equivalents \| Significant other observable inputs (level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure		5,955
Commercial paper \| Cash equivalents \| Significant unobservable inputs (level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure
Commercial paper \| Short-term investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	11,927	23,136
Commercial paper \| Short-term investments \| Quoted prices in active markets for identical assets (level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Commercial paper \| Short-term investments \| Significant other observable inputs (level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	11,927	23,136
Commercial paper \| Short-term investments \| Significant unobservable inputs (level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 0	$ 0