Cytek Biosciences, Inc.

The following table displays the benefit from income taxes for the three months ended March 31, 2026 and 2025 (in thousands):

Income tax expense was $1.5 million for the three months ended March 31, 2026, as compared to an income tax expense of $0.1 million for the three months ended March 31, 2025. The net increase in expense of $1.4 million for the three months ended March 31, 2026, was primarily due to the domestic valuation allowance established in the last quarter of 2025, which negates the tax benefit from losses within the U.S. jurisdiction for the current period.

16. 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 ASC 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 12 years. Some leases includeone or more options to renew, generally at the Company’s sole discretion, with renewal terms that can extend the lease term up to 10 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.

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

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

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

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 March 31, 2026 is as follows (in thousands):

17. Commitments and contingencies

Purchase Obligations

The Company has entered into non-cancelable arrangements with third parties, primarily related to cloud computing and other information technology services. As of March 31, 2026, future payments under these contractual obligations were as follows (in thousands):

Legal proceedings

From time to time, the Company is involved in legal proceedings and claims. On August 14, 2024, Beckman Coulter, Inc. (“Beckman Coulter”) sued the Company in federal court in the District of Delaware, alleging that the Company’s Cytek Aurora flow cytometers, Aurora CS cell sorters, and Northern Lights and Northern Lights-CLC products infringe U.S. Patent Nos. 10,330,582 and 11,703,443, each titled “Flow Cytometer.” On October 7, 2024, the Company filed an answer denying any liability and including a counterclaim against Beckman Coulter for false marking. On October 28, 2024, Beckman Coulter filed an answer to the counterclaim, denying liability. On January 9, 2025, Beckman Coulter filed a first amended complaint, further alleging that the Company’s Cytek Aurora flow cytometers, Aurora CS cell sorters, and Northern Lights and Northern Lights-CLC products also infringe U.S. Patent Nos. 12,174,106 and 12,174,107, each of which is also titled “Flow Cytometer” and related to the earlier asserted patents. On February 6, 2025, the Company filed an answer to the first amended complaint, denying any liability and including a counterclaim against Beckman Coulter for false patent marking. On February 27, 2025, Beckman Coulter filed an answer to the counterclaim, denying liability. Claim construction hearings were held on August 21, 2025 and September 17, 2025. At the second claim construction hearing, the court ordered Beckman Coulter to narrow the number of asserted claims, and Beckman Coulter has dropped all asserted claims from U.S. Patent No. 12,174,106. In March 2026, the parties stipulated to dismissal without prejudice of the counterclaim for false marking. The parties have filed summary judgment and Daubert motions, with opening briefs filed on March 13, 2026, opposition briefs filed on April 13, 2026; and reply briefs filed on April 29, 2026. A trial is scheduled for August 17, 2026. The Company intends to vigorously defend itself and pursue available remedies.

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.

18. Product warranty

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

19. Net loss attributable to common stockholders per share

The following table sets forth the computation of the Company’s basic and diluted net loss per share for the three months ended March 31, 2026 and 2025 (in thousands except share and per share data):

Because the Company had a net loss during the three months ended March 31, 2026 and 2025,1.6 million and 1.7 million shares for the three months ended March 31, 2026 and 2025, respectively, were dilutive, but were not included in the computation of diluted net loss per share because their inclusion would have been anti-dilutive. Of these dilutive shares, approximately 671,835 and 141,556 shares related to RSUs,938,462 and 1,475,367 shares related to stock options, and 5,566 and 50,127 shares related to the ESPP for the three months ended March 31, 2026 and 2025, respectively. Therefore, basic net loss per share is the same as diluted net loss per share.

20. Segment Information and Geographic Data

Segment Information

The Company operates and manages its business activities on a consolidated basis and hasone operating and reportable segment, as defined under ASC 280, Segment Reporting. Operating segments are defined as components of an enterprise where separate financial information is evaluated regularly by the Chief Operating Decision Maker (“CODM”), who decides how to allocate resources and assess performance. The Company’s Chief Executive Officer serves as the CODM and is responsible for evaluating the Company’s financial performance and allocating resources. The CODM uses net income as the measure of profit or loss to allocate resources, assess performance, and monitor budgets against actual results.

Further, the CODM reviews the significant segment expenses in the table below on net loss when assessing performance and allocating resources, as well as those used for strategic decisions related to headcount and capital expenditures. The measure of segment assets is reported on the balance sheet as total assets. The CODM does not review segment assets at a level other than that presented in the Company’sunaudited interim consolidated balance sheets.

The following table reflects the Company’s significant segment expenses:

Other segment items include other income (expenses) and interest income (expenses).

The Company sells its products worldwide and attributes revenue to the geography where the product is delivered. The geographical distribution of revenue for the three months ended March 31, 2026 and 2025 was as follows (in thousands):

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

For revenue, a major country is defined as a group of customers in a country with combined revenue of greater than 10% of consolidated revenue or as otherwise deemed significant. Revenue in the United States was approximately $24.4 million and $18.5 million for the three months ended March 31, 2026 and 2025, respectively. Revenue in China was approximately $3.6 million and $5.3 million for the three months ended March 31, 2026 and 2025, respectively. No other country represented greater than 10% of the Company’s consolidated net sales or was otherwise deemed significant. For the three months ended March 31, 2026 and 2025, the Company had no major customers that represented more than 10% of the Company’s total revenue. No customer represented more than 10% of net accounts receivable as of March 31, 2026 and 2025.

As of March 31, 2026 and December 31, 2025, the Company’s long-lived assets by geographic area were as follows (in thousands):

As of March 31, 2026 and December 31, 2025, most of the Company’s long-lived assets were located in the United States and in Wuxi, China.