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    Noah Lewis • Raymond James

    Noah Lewis's questions to Cytek Biosciences Inc (CTKB) leadership

    Noah Lewis's questions to Cytek Biosciences Inc (CTKB) leadership • Q2 2025

    Question

    Noah Lewis of Raymond James inquired about the expected gross margin cadence for the remainder of the year, considering one-time costs, and sought more detail on the drivers of biopharma strength in the U.S. market.

    Answer

    CFO William McCombe projected gross margin improvement in the second half of the year, driven by seasonally higher instrument revenues and the absence of one-time costs that impacted Q1 and Q2. He also noted that the biopharma strength was broad-based, with large pharma being a key contributor, driven by the harmonization capabilities of Cytek's technology and the advanced features of the new Aurora EVO system.

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    Noah Lewis's questions to Cytek Biosciences Inc (CTKB) leadership • Q4 2024

    Question

    Noah Lewis of Raymond James, on for Andrew Cooper, inquired about the drivers behind the lower G&A expense, asking if it was sustainable or due to a one-time benefit, and also questioned the company's ability to pass through potential tariff-related costs.

    Answer

    CFO William McCombe clarified that the lower G&A in Q4 was due to a $2.6 million one-time benefit and that the underlying quarterly run rate has been held flat. CEO Wenbin Jiang stated that the ability to pass on tariff costs depends on their magnitude and that there would be a delay due to honoring existing customer quotes.

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    Noah Lewis's questions to OraSure Technologies Inc (OSUR) leadership

    Noah Lewis's questions to OraSure Technologies Inc (OSUR) leadership • Q2 2025

    Question

    Noah Lewis, on behalf of Andrew Cooper at Raymond James, asked for clarification on the drivers behind the Q2 gross margin outperformance, questioning if it was solely due to insourcing manufacturing or if other factors like packaging improvements were involved. He also inquired about the strength in the Diagnostics segment, its performance in the clinical setting, and whether any revenue was pulled forward due to tariffs.

    Answer

    CFO Kenneth McGrath explained that the Q2 gross margin beat was driven by a combination of factors, primarily manufacturing improvements and lower scrap, noting that other efficiencies like packaging are more volume-dependent. Regarding Diagnostics, McGrath attributed the Q2 strength to the timing of large international orders and domestic 'Together Take Me Home' program orders, both of which are expected to slow in Q3. CEO Carrie Manner added that the company is intentionally expanding into clinical settings like emergency rooms and clinics and co-selling its Syphilis test to help offset public health funding challenges.

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