Yih-Ming Tu's questions to Cytek Biosciences Inc (CTKB) leadership • Q4 2024
Question
Yih-Ming Tu of Morgan Stanley, on for Tejas Savant, asked for quantification of Cytek's NIH funding exposure, the expected impact of academic budget pressures on the 2025 guidance, and the nature of orders from large pharma/CRO customers.
Answer
CFO William McCombe stated that direct NIH-funded revenue was approximately 5% of total 2024 revenue and that it was too early to determine the full impact. CEO Wenbin Jiang emphasized that over 50% of revenue is from outside the U.S., providing a buffer. Regarding pharma and CROs, Jiang noted customers are standardizing on Cytek's platform for translational work, and McCombe added that the biotech/pharma/CRO segment grew 14% YoY in Q4.