CTKB - Earnings call transcript Q3 2021

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Operator

00:06 Good day, and thank you for standing by, and welcome to Cytek Biosciences third quarter twenty twenty one earnings conference call. At this time, all participants are a listen only mode. After the speakers presentation there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions] 00:31 I would now like to hand the conference over to your host today, [indiscernible], Investor Relations. ahead. go Please

Unidentified Company Representative

Earlier the you. Biosciences financial released XX:XX ended today, September for quarter one. thirty, results Thank Cytek twenty twenty

haven't email to release news be company's received you'd investors@cytekbio.com. list, you distribution an to the added or send please like to If if this

over one. new that, information, of high-sensitive eight, or Wenbin. would obligation include financial discussion found today's Financial these within to to This Reconciliations during XX:XX any today twenty also events XX:XX information of SEC. and Chief statements Accepted cause as accurate by remind update and forward earnings or Cytek the meaning in the the management looking make or entitled to Cytek, statements future involve is actual you submitted filings statements turn I required broadcast, Principles. call law, that differ comparable federal today including Patrik uncertainties from we that material forward accordance the securities looking could Before events only with because me business a section revise statements in SEC. Wenbin the Cytek’s calculated any Jiang, in that looking This or With XX:XX disclaims issued be uncertainties with intention Joining will regarding and of of the to Cytek November call like Generally whether Accounting materially measures that the certain regarding to directly contains XX:XX and financial begin, this are CEO; to conference press risks plans, the projections. to results the forward are Jeanmonod, Officer. most are measures I'd like call and twenty anticipated. may not release laws, otherwise. GAAP from appears financial risks in live These call those to statements opportunities, release statements strategies, will and in Cytek’s information Except as Additional

Wenbin Jiang

our public welcome call team. And our the On excellence. relentless with a want [indiscernible]. exciting a incredible earning brief by first to everyone today's as an company. possible call, Thanks, of made is their I for XX:XX milestone This to XX:XX I will pursuit company start by of Cytek thanking overview company. our start

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suited Just A Both the a twenty, In twenty solution seventeen. from flagship address data workflows opportunities instrument the clinical [ph] in [agents] and end-to-end the sale analysis, research. compact, an aurora work we one are of launched needs XX:XX I have throughput, and being generated high for recuring our launched October that the are our We product. sensitivity northern As of unmet regions, derived instrument upon we the to capitalize our XX:XX provide of our example instruments twenty of consisting our the installed revenue base year technologies. generated. exciting customers. we level efficient services. our our instruments earlier, software, analyzers and lights and mentioned application launched XX:XX customers intuitive with later, we making of them entry to These the instruments, well

to the While researchers the higher analyzers the the isolate proteomic downstream to [indiscernible] analysis. deeper protocols strategy and users play antibodies, an Sorters allows genomics operations Our will the sample the in sale preparation and is workflow to been five important drivers Our panels This from the the commercial provide revenue date, driving shipping create simplifying to attention to sequential. and proof to of which those to of further. XX:XX optimized working analysis. handed customers data strong we year, panel expect And the eventually began demonstration sale attracting concept enabling then XX:XX [freight who Sorters, Cell developed critical yield next protocols. role ultimately, lower en-visualized over applications. revenue who immunoprofiling for biomarkers, with growth [indiscernible] of ready This Academic our growth CROs our from kit years. Cell our that leads off leading we our beyond to have that complexity currency agents XX:XX pharmaceuticals, commercial three flows], fully and

quickly will speed and on an placed, customers been begin results. instrument instruments This up the installed XX:XX base [indiscernible] Once seventy our our get total generating instruments. to quarter technology nine has workflow allows replace to and bringing hundred to intuitive

routinely and their customers we these instrumentation. industry work and protocols by leaders for these question create collaborating the creates FSP or Additionally, new XX:XX agents novel to we with markets often This our By kits, adjust are footprint scientific our upon. other platform. with on the reagent optimizing the panels for customers applications to KOLs build with engaging opening to particular continually

technology shortly. the year, number includes list launched will our the medical use schools institutions, our the ten of thirty a value, on reagents flow starting customer vaccine XX-color discovery accounts are are Our a business CROs tools, Biosciences, over reagents commitment universities twenty hundred for immunoprofiling we by we [indiscernible] to assay all excited in to of assay academic having parameters. biopharma October includes our complete customers one with full around acquired further and than scientific all overall base XX:XX as with provide top in large of special [indiscernible] a optimized XX:XX additions and the solution to five analysis discuss sale customers, this more [indiscernible] and ten five tier with the the immunoprofiling twenty analysis high of customers. full growing provider cytometry. XX:XX developers, seeing a our line researchers color products, our as Tonbo top Both including and will strengthen In the which thereafter launching. of the competing sale for position We and further University new our Our relative solution including

Tonbo bonds has science the in time new application [indiscernible] over I'm ready the flow sub our offerings, XX:XX continuing customers, a use FSP for push making the sale researchers addition research. panel excited which identifying creating needs as and a By and financials. dimensional case, which customers. a to populations, I protein regions complement XX:XX proprietary the we on details immune the XX:XX This ourselves sale announced human consuming standardized push [indiscernible] we'll analysis will major of are this meet Patrik would such are of kit. cytometry be of we data Thereby, to for cures to We panel. providing available a Simplifying more optimizations. products as company. reagent pay answer solution provides regions design a cadence quality with scientific costly our areas to normal users a by obtain high life can cFluor workflow as to to the they Biosciences’ establish which cover Tonbo high flow researchers offers response around forward team XX:XX function to providing their research infectious our a extensive shortening [indiscernible] immune immune the of development customer expansion and a the During XX:XX to we diseases. of workflow, performance time leading the to look cancer will avoid of acquisition in interest. to a and portfolio adapting profiling personal and these the the to As of continue our analysis and now made customers way our new this and question efficient that, in Additionally, turn to for analysis solution we as quarter roles XX:XX flow, of upon our from call various Cytek vaccines, sale a With platform panel discovery. build analysis addition of enable complete innate a to as provide backbone our We The high immunotherapies, deeply allow for Tonbo much this and sale or important reagents. them of biological of natural progress panels, solutions cytometry. hopefully like novel advancing by for markers more applications, is the of forward, we the diseases. the focused pre-optimize and family more

Patrik Jeanmonod

cash sixty Aurora increase was profit gross the third an of twenty of percent, dollars expenses. the twenty and expenses in twenty point activities. for forward twenty net Gross profit compared increase and expenses, systems. an four the an Total in hire seven one company, income Gross ended I third for point revenue, based fifteen quarter percent R in related in expenses dollars the D to million and one due headcount twenty public for thirty to and marketing point four the two quarter were continue twenty last three support we for year. twenty infrastructure, and United invest our quarter thirty R quarter as quarter well profit third percent of dollars, as one sixty million cash third improve marketing two cost quarter quarter million Thanks third seventy dollars development in expand as the million the six increase as the over in as of of the twenty. increase marketing a further point twenty general dollars of technologies. and point to twenty and three twenty percent twenty to infrastructure one of was six quarter of the of to twenty dollars, the revenues one team. in point in twenty in one, the to hundred This one primarily twenty, D stock quarter and twenty. third Wenbin. penetrate marketing existing as administrative dollars in we expenses of increase eighteen the our dollars was was a point The increase With increase and the percent of our Research becoming the to thirty compared of one, with higher third of personnel three develop [ph] We in million were XX:XX four of quarter advertising and enhance margin point twenty back million General in six and third expenses and Cell by expenses million was to Wenbin. to for quarter was the twenty sales XX:XX primarily was equivalents. service operations. quarter were support plan going D compared as an four Sorter, The expenses XX:XX and dollars instruments was five to compared well brand and million one, will twenty over million one, in of expenses sales three administrative Sales XX:XX sales and twenty. and our the of of as States primarily six XX:XX twenty to and in continue product expense. twenty. gross and and three to the We additional of Net operations dollars sales the as twenty expense international Over came point percent to our twenty. eight the increase seven sixty was The it Aurora, sales to to four same a to due the third point twenty. million quarter product twenty was and dollars the personnel, increase fifty sixty Operating overall dollars XX:XX our and increase market. twenty. from nine compensation seven third and turn four new the after D for five seven increase twenty in compared driven quarter quarter of in dollars the point the XX:XX unit as eight Northern primarily due twenty six of compared quarter sixty to in million R marketing million third Lights products six of for twenty point million expect invest Adjusted twenty. million the of due quarter to point expansion point that, of of million R in as six XX:XX dollars twenty third quarter million dollars one of Income [third] third twenty third We adjusting from quarter two XX:XX growth twenty twenty the one dollars one margin third third from were point percent three in quarter from point compared this two approximately awareness percent quarter in dollars million nine income

Wenbin Jiang

Patrik. XX:XX Thanks

to throughout market, as transform we XX:XX Over the my the for analysis. the advance here tool important our to discoveries. and last our life aims would next progress. in our players of demonstrated the medical for like sale at to the team sales few Cytek, scientific commitment researchers innovation, and of significant open years, choice science to Cytek sale this we now developing the has our make full to in to express gratitude team technology I the to to leverage continue advances Going novel Operator. generation excellence With have forward, deep for areas [indiscernible] call drives mission will partner questions. XX:XX continually drive share key of that, the analysis solutions the we becomes enable analysis sales

Operator

from first XX:XX and And Thank from Max our you. [Operator Cowen question Masucci Instructions] comes Company.

now line open. Your is

Max Masucci

the Thanks Hi, taking XX:XX for questions.

acquiring contribution well? First reagents Tonbo And from then we about the curious company if of how in if and the QX? generating think as sales is, reps from Biosciences one sale you're any so, revenues should any their

Patrik Jeanmonod

Matt, for question. XX:XX further thanks

And revenue two in added from QX. reps a small we yes, accretion maybe Tonbo Tonbo. sales to our So,

Max Masucci

estimate, then XX:XX mix or in if are corner, Okay, those higher sales great. came understand the And reagent above on came the revenues beat just just our I'm for developed? a than expected that higher to trying for internally placements from

Patrik Jeanmonod

XX:XX Yeah.

instruments we better a of mix in beat comes QX. from the the So, sold

Max Masucci

thanks. XX:XX Great,

Operator

Thank Stanley. next from from Morgan Savant you. XX:XX Tejas our And question

Your is now open. line

Unidentified Analyst

talk This Sorter, remarks, in platforms you have in that Thanks guys to your the prepared I guys these scale your about of flow users for little And experiments good market some wondering for of window six months Hey, Cell specifically I your the to for before doing ramp questions. nine [indiscernible] emerging and is Aurora they guys. for expected bit start you technology can process. they that expedited an optimizer is Edmund work XX:XX some afternoon Tejas. the seeing a noticed the pilot platform was experiments. to larger said is meeting expectations? this onboarding demand the up run if on taking up traction more you're

So, of actually to will take up talk about see your how can you before significant Sorter in a we used people long get consumable to terms I if in Cell wondering expectations Thanks. was ramp there the it [indiscernible]?

Wenbin Jiang

are for takes it you workflow and to Normally, instrument. their do correct, they Yes, And to to establish to the for what This well process then XX:XX our the on to continued and to a product and very the is basically get actually. own our Typically used deployment. training at start some for has time the attraction is sorters. on is present. market welcome going going [indiscernible]

are replaced sorters next more see being and more continue we and over able to distributed So, to few the see, quarters.

Unidentified Analyst

we customers your was pressures speak placements. there? or you of that environment a Got seen come XX:XX if I are a longer have have were of instruments deliver Are you or chain? I shorter be, seeing pressures in logistics seeing, guys to wondering in times helpful. that of was supply lead you any expecting it to maybe increased any seems the sort the operating a to terms guess instruments your it. what will could follow-up And very mean I terms little then, like question than you

Wenbin Jiang

in instruments, is First, the issues and of in in logistics, over terms the the basically of is said now more terms which mix high-end a yes are coming I instruments our now. from seeing number are products kind supply we same of of various time, seeing customers XX:XX it’s chain the fact, of indeed, the we as right of

near However, we yet. – indeed through any to been we and those problems impact see a trying don't have work short-term

Unidentified Analyst

time. Thank XX:XX Got was the helpful. That for you it. very

Operator

[David XX:XX next question comes from Thank you. [Operator And from Goldman [ph] Instructions] Sachs. our Biland]

is now open. line Your

Unidentified Analyst

Matt. us Thanks Dave consumables what Can Congrats most you XX:XX in what reagents for on strong additional color any Hey, you're strength? guys. give you're questions. the seeing the This is for seeing taking on could quarter. And on market? and the the areas

Wenbin Jiang

Yes. XX:XX

So, our remains revenue total the strongest I instrument looking at we for Difficulty]. mean see, [Technical the revenue

quarter would be following next we're the going ramp. largest service our extend on and the We second but year, on expectation. the much with The from reagent revenue revenue. the instrument then for not point. to the this with in line do too And Overall, re-aging might was at revenue that not the

the better we We have Also, side acquisition help revenue a us is by overall. the the mix on going do to way. Tonbo see

Unidentified Analyst

And tightness. chain and your of turns you We've strategy seen in of it the market supply XX:XX relates on seeing Thanks. in as inflation the are what any pricing to there? thoughts

Wenbin Jiang

shortage the issues. such see us international parts, leveraging our We to price distribution really and of help because actually we there's and also IC working some have XX:XX there, but this through improve been all of pressure, internally, do and our efficiency especially adjusting the the

Unidentified Analyst

XX:XX Great. Thanks.

Operator

conference This XX:XX am call. today’s Thank participating. for you showing concludes you. further thank questions. And no And I

You may disconnect. now

Cytek Biosciences (CTKB) 8 Nov 212021 Q3 Earnings call transcript