0001628280-26-032293 | 10-Q | XBRL Viewer

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Consolidated Statements of Stockholders’ Equity (Unaudited) - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive income (loss)
Beginning balance (in shares) at Dec. 31, 2024		129,205,901
Beginning balance at Dec. 31, 2024	$ 395,737	$ 129	$ 430,791	$ (35,199)	$ 16
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued in connection with employee stock plans (in shares)		500,830
Shares issued in connection with employee stock plans	39	$ 1	38
Shares of Common Stock withheld related to net share settlement (in shares)		(29,006)
Shares of Common Stock withheld related to net share settlement	(129)		(129)
Repurchase of shares (in shares)		(2,078,583)
Repurchase of shares	(10,627)	$ (2)	(10,625)
Stock-based compensation	6,630		6,630
Unrealized loss on marketable securities	(65)				(65)
Foreign currency translation adjustment, net of tax	(560)				(560)
Net loss	(11,402)			(11,402)
Ending balance (in shares) at Mar. 31, 2025		127,599,142
Ending balance at Mar. 31, 2025	379,623	$ 128	426,705	(46,601)	(609)
Beginning balance (in shares) at Dec. 31, 2025		128,550,136
Beginning balance at Dec. 31, 2025	341,739	$ 129	441,107	(101,738)	2,241
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued in connection with employee stock plans (in shares)		647,968
Shares issued in connection with employee stock plans	21	$ 1	20
Shares of Common Stock withheld related to net share settlement (in shares)		(55,517)
Shares of Common Stock withheld related to net share settlement	(239)	$ (1)	(238)
Stock-based compensation	4,861		4,861
Unrealized loss on marketable securities	(201)				(201)
Foreign currency translation adjustment, net of tax	328				328
Net loss	(18,866)			(18,866)
Ending balance (in shares) at Mar. 31, 2026		129,142,587
Ending balance at Mar. 31, 2026	$ 327,644	$ 129	$ 445,750	$ (120,604)	$ 2,369

Basis of Presentation and Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Basis of presentation and summary of significant accounting policies

The Company has prepared the accompanying unaudited interim 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

The unaudited interim consolidated financial statements include the accounts of Cytek Biosciences, Inc., its wholly-owned subsidiaries, Cytek Biosciences B.V. (Netherlands), Cytek Biosciences GmbH (Germany), Cytek Biosciences Ltd (UK), Cytek Biosciences Pte. Ltd. (Singapore), Cytek Biosciences S.A.S. (France), Cytek Limited (Hong Kong), Cytek Japan Corporation (“Cytek Japan”), Cytek (Shanghai) Biosciences Co., Ltd., and Cytek (Wuxi) Biosciences Co., Ltd. (“Cytek Wuxi”), and Cytek Biosciences Canada Ltd. (Canada). 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 entity model (“VOE”) or other applicable GAAP metric. 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 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 unaudited interim 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 unaudited interim consolidated financial statements and accompanying notes as of the date of the unaudited interim 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 unaudited interim consolidated statements of operations and comprehensive loss 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 unaudited interim consolidated statements of operations and comprehensive (loss) income.

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 $65.7 million and $90.9 million as of March 31, 2026 and December 31, 2025, 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 March 31, 2026.

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


	March 31, 2026		December 31, 2025
Cash	$	31,806	$	28,983
U.S. Treasury	949		16,434
Money market funds	32,910		45,436
Total cash and cash equivalents as presented on the unaudited interim consolidated statements of cash flows	$	65,665	$	90,853

The Company classifies restricted cash as current on the accompanying unaudited interim consolidated balance sheets based on the expected timing of the release of the restrictions. There was no restricted cash as of March 31, 2026 and December 31, 2025.

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 unaudited interim consolidated statements of operations and comprehensive loss. 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 Investments. The Company’s equity investments consist 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 unaudited interim consolidated balance sheets and adjustments to their carrying amounts are recorded in other income, net in the unaudited interim consolidated statements of operations and comprehensive loss. There were no material events or circumstances impacting the carrying amount of our strategic investments during the three months ended March 31, 2026.

Trade accounts receivable, net

The Company’s accounts receivable consists principally of amounts due related to product sales of instrument systems, reagents and accessories, as well as installation and repair services. These receivables are generally due within 30 to 90 days of the period in which the corresponding sales occur, do not bear interest and are classified as trade accounts receivable, net on the unaudited interim consolidated balance sheets. Trade accounts receivable are reported at their estimated net realizable value.

Allowance for credit losses

The allowance for doubtful accounts is based on the Company’s assessment of the collectibility of customer accounts. The Company regularly reviews the allowance by considering factors such as historical experience, credit quality, age of the accounts receivable balances, and current economic conditions that may affect a customer’s ability to pay.

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 credit losses for the three months ended March 31, 2026 were as follows (in thousands):


Balance at December 31, 2025	$	729
Utilization of allowance for credit losses	—
Provision for credit losses	447
Balance at March 31, 2026	$	1,176

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			5 - 7 years
Laboratory equipment			5 - 10 years
Office and computer equipment			3 - 5 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 unaudited interim consolidated statements of operations and comprehensive loss. 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			2 - 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, as well as acquired finite-lived intangible assets. The Company evaluates long-lived assets, including acquired finite-lived 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 comparing the carrying amount of an asset or an asset group to the 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 for the amount by which the carrying amount of the asset exceeds the fair value of the asset or asset group.

Goodwill and indefinite-lived intangible assets

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 indicates the carrying value of the reporting unit exceeds 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 and indefinite-lived intangible assets 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 unaudited interim consolidated balance sheets for cash and cash equivalents, trade accounts receivable, net, trade accounts payable, and accrued expenses approximate their fair values due to their short maturities.

Revenue recognition

The Company’s product revenue consists of sales of its instrument systems, reagents 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 shipment and is adjusted based on the applicable International Commercial Terms, 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 longer 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. The Company does not typically offer discounts, rebates, incentives, or rights of return. 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.

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 unaudited interim 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.

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. For the three months ended March 31, 2026 and 2025, advertising, marketing and media expenses were $0.9 million and $1.2 million, respectively.

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 analyzing the historical volatility of the Company’s historical market data for the assessment corresponds 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 unaudited interim consolidated statements of operations and comprehensive loss. Accrued interest and penalties, if any, are included in accrued expenses in the unaudited interim 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. federal, 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 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 unaudited interim consolidated financial statements.

Net loss per share

Basic net loss per share and diluted net loss per share are computed using the weighted-average number of shares of common stock outstanding for the period. Net loss per share is calculated using the two-class method, which is an earnings allocation formula that determines net 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 loss per share in the periods in which net loss is recorded.

Diluted net loss 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 loss 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 loss 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 unaudited interim 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

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 Company adopted ASU 2023-09 during the fourth quarter of 2025 on a prospective basis. The standard did not have a material impact on the Company’s audited consolidated financial statements. Refer to Note 15 for more information.

In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”), which provides a practical expedient and an accounting policy election related to the estimation of expected credit losses for current accounts receivable and current contract assets. ASU 2025-05 is effective for annual periods beginning after December 15, 2025, including interim periods within those annual periods. The Company adopted ASU 2025-05 effective January 1, 2026, on a prospective basis. In connection with this adoption, the Company elected to apply the practical expedient permitted by the standard, which assumes that current conditions as of the balance sheet date do not change for the remaining life of the assets. The adoption of ASU 2025-05 did not have a material impact on the Company’s unaudited interim consolidated financial statements and related disclosures.

Recently issued accounting pronouncements

In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (“ASU 2024-03”), and in January 2025 issued ASU 2025-01, Clarifying the Effective Date (“ASU 2025-01”) to provide clarification as to the effective date. ASU 2024-03 requires disaggregated disclosure of income statement expenses. ASU 2024-03 does not change the expense captions currently presented on the income statement; rather it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. ASU 2024-03, as amended by ASU 2025-01, is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within fiscal years beginning after December 15, 2027. ASU 2024-03 can be applied on a prospective basis. Early adoption is permitted. The Company is currently in the process of evaluating the impact of this pronouncement on its related disclosures.

In September 2025, the FASB issued ASU 2025-06, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”), which modernizes the accounting for internal-use software costs. ASU 2025-06 is effective for annual periods beginning after December 15, 2027, with early adoption permitted as of the beginning of an annual period. The Company is currently in the process of evaluating the impact of this pronouncement on its unaudited interim consolidated financial statements and related disclosures.

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Changes in the Allowance for Credit Losses (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 729
Utilization of allowance for credit losses	0
Provision for credit losses	447
Ending balance	$ 1,176

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 65,665	$ 90,853
Marketable securities	196,560	170,676
Trade accounts receivable, net	51,903	62,509
Inventories	49,791	48,428
Prepaid expenses and other current assets	15,383	19,530
Total current assets	379,302	391,996
Property and equipment, net	20,469	18,009
Operating lease right-of-use assets	10,643	11,315
Goodwill	16,689	16,697
Intangible assets, net	15,704	16,821
Other noncurrent assets	6,306	6,704
Total assets	449,113	461,542
Current liabilities:
Trade accounts payable	6,741	6,410
Legal settlement liability, current	2,208	2,495
Accrued expenses	19,781	23,417
Other current liabilities	22,173	16,978
Deferred revenue, current	30,032	28,504
Total current liabilities	80,935	77,804
Legal settlement liability, noncurrent	6,637	6,786
Deferred revenue, noncurrent	17,672	18,339
Operating lease liability, noncurrent	13,441	14,042
Long-term debt	386	525
Other noncurrent liabilities	2,398	2,307
Total liabilities	121,469	119,803
Commitments and contingencies (Note 17)
Stockholders’ equity:
Common stock, $0.001 par value; 1,000,000,000 authorized shares as of March 31, 2026 and December 31, 2025, respectively; 129,142,587 and 128,550,136 issued and outstanding shares as of March 31, 2026 and December 31, 2025, respectively	129	129
Additional paid-in capital	445,750	441,107
Accumulated deficit	(120,604)	(101,738)
Accumulated other comprehensive gain	2,369	2,241
Total stockholders’ equity	327,644	341,739
Total liabilities and stockholders’ equity	$ 449,113	$ 461,542

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

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

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


	March 31, 2026		December 31, 2025
Cash	$	31,806	$	28,983
U.S. Treasury	949		16,434
Money market funds	32,910		45,436
Total cash and cash equivalents as presented on the unaudited interim consolidated statements of cash flows	$	65,665	$	90,853

Schedule of Allowance for Credit Losses

The changes in the allowance for credit losses for the three months ended March 31, 2026 were as follows (in thousands):


Balance at December 31, 2025	$	729
Utilization of allowance for credit losses	—
Provision for credit losses	447
Balance at March 31, 2026	$	1,176

Schedule of Estimated Useful Life of Property 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			5 - 7 years
Laboratory equipment			5 - 10 years
Office and computer equipment			3 - 5 years
Leasehold improvements			Shorter of expected lease term or estimated useful life

Schedule of Estimated Useful Lives of its 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			2 - 15 years
FCI developed technology			1 - 6 years
Customer relationship			7 - 9 years
Reagent licenses			7 years
IP license			5 years

Investments

3 Months Ended

Mar. 31, 2026

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 March 31, 2026 (in thousands):


	March 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss		Estimated Fair Value
U.S. Treasury	$	163,842	$	21	$	(73)	$	163,790
Corporate bonds	15,377		4		(9)		15,371
Commercial paper	17,398		—		—		17,398
Total available-for-sale investments	$	196,617	$	25	$	(82)	$	196,559

The following table summarizes the contractual maturities of the Company’s available-for-sale securities at March 31, 2026 (in thousands):


	March 31, 2026
	Amortized Cost		Fair Value
Mature in less than one year	$	196,617	$	196,559
Total	$	196,617	$	196,559

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, 2025 (in thousands):


	December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss		Estimated Fair Value
U.S. Treasury	$	132,975	$	122	$	—	$	133,097
Corporate bonds	23,164		18		—		23,182
Commercial paper	14,397		—		—		14,397
Total available-for-sale investments	$	170,536	$	140	$	—	$	170,676

The following table summarizes the contractual maturities of the Company’s available-for-sale securities at December 31, 2025 (in thousands):


	December 31, 2025
	Amortized Cost		Fair Value
Mature in less than one year	$	170,536	$	170,676
Total	$	170,536	$	170,676

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of its Intangible Assets (Details)	Mar. 31, 2026
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	2 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

Balance Sheet Details - Schedule of Components of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]
Accrued compensation and related benefits	$ 8,071	$ 15,192
Professional service fees	5,110	3,306
Purchases	2,519	1,836
Product warranty	1,425	1,457
Other	2,656	1,626
Total accrued expenses	$ 19,781	$ 23,417

Lease - Additional Information (Details) - Office Facilities and Equipment	Mar. 31, 2026 option
Lessee, Lease, Description [Line Items]
Number of option for lease renewal	1
Lessee, operating lease, renewal term (in years)	10 years
Minimum
Lessee, Lease, Description [Line Items]
Leases term under operating lease agreements (in years)	1 year
Maximum
Lessee, Lease, Description [Line Items]
Leases term under operating lease agreements (in years)	12 years

Property and Equipment, Net - Schedule of Components of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Property Plant And Equipment [Line Items]
Total property and equipment	$ 33,526	$ 30,143
Less: accumulated depreciation	(13,057)	(12,134)
Property and equipment, net	20,469	18,009
Laboratory equipment
Property Plant And Equipment [Line Items]
Total property and equipment	11,923	11,877
Leasehold improvements
Property Plant And Equipment [Line Items]
Total property and equipment	3,693	3,518
Building and land
Property Plant And Equipment [Line Items]
Total property and equipment	8,013	7,922
Construction in progress
Property Plant And Equipment [Line Items]
Total property and equipment	4,215	1,417
Office and computer equipment
Property Plant And Equipment [Line Items]
Total property and equipment	3,048	2,950
Furniture and fixtures
Property Plant And Equipment [Line Items]
Total property and equipment	$ 2,634	$ 2,459

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Revenue, net:
Total revenue, net	$ 44,135	$ 41,457
Cost of sales:
Total cost of sales	22,881	21,300
Gross profit	21,254	20,157
Operating expenses:
Research and development	9,604	9,725
Sales and marketing	11,646	12,509
General and administrative	18,467	12,898
Total operating expenses	39,717	35,132
Loss from operations	(18,463)	(14,975)
Other income (expense):
Interest expense	(262)	(291)
Interest income	787	508
Other income, net	565	3,492
Total other income, net	1,090	3,709
Loss before income taxes	(17,373)	(11,266)
Provision for income taxes	1,493	136
Net loss	(18,866)	(11,402)
Net loss, basic	(18,866)	(11,402)
Net loss, diluted	$ (18,866)	$ (11,402)
Net loss per share, basic (in dollars per share)	$ (0.15)	$ (0.09)
Net loss per share, diluted (in dollars per share)	$ (0.15)	$ (0.09)
Weighted-average shares used in calculating net loss per share, basic (in shares)	128,704,934	128,339,481
Weighted-average shares used in calculating net loss per share, diluted (in shares)	128,704,934	128,339,481
Comprehensive loss:
Foreign currency translation adjustment, net of tax	$ 328	$ (560)
Unrealized loss on marketable securities	(201)	(65)
Net comprehensive loss	(18,739)	(12,027)
Product
Revenue, net:
Total revenue, net	28,779	28,110
Cost of sales:
Total cost of sales	15,921	15,529
Service
Revenue, net:
Total revenue, net	15,356	13,347
Cost of sales:
Total cost of sales	$ 6,960	$ 5,771

Balance Sheet Details (Tables)

3 Months Ended

Mar. 31, 2026

Balance Sheet Related Disclosures [Abstract]

Schedule of Components of Inventory

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


	March 31, 2026		December 31, 2025
Raw materials	$	23,642	$	20,442
Work in progress	16,339		16,531
Finished goods	9,810		11,455
Total inventories	$	49,791	$	48,428

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):


	March 31, 2026		December 31, 2025
Prepaid expenses:
Prepaid inventory	$	593	$	228
Prepaid insurance	559		884
Prepaid income tax	2,772		2,789
Other	3,282		3,034
Other current assets:
Tax refund receivable	1,017		5,410
Tenant improvement receivables	3,558		4,208
Other	3,602		2,977
Total prepaid expenses and other current assets	$	15,383	$	19,530

Schedule of Components of Accrued Expenses

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


	March 31, 2026		December 31, 2025
Accrued expenses:
Accrued compensation and related benefits	$	8,071	$	15,192
Professional service fees	5,110		3,306
Purchases	2,519		1,836
Product warranty	1,425		1,457
Other	2,656		1,626
Total accrued expenses	$	19,781	$	23,417

Schedule of Components of Other Current Liabilities

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


	March 31, 2026		December 31, 2025
Other current liabilities:
Customer deposits	$	1,147	$	1,068
Income tax payable	3,798		3,067
Sales and use tax payable	3,233		3,216
Operating lease liability, current	2,944		2,880
Current portion of loan and line of credit	10,711		6,296
Other	340		451
Total other current liabilities	$	22,173	$	16,978

Product Warranty (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
Product Warranty (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance, beginning of the period	$ 1,457	$ 1,796
Accrual for current year warranties	370	1,098
Warranty cost incurred	(402)	(1,437)
Balance, end of period	$ 1,425	$ 1,457

Investments - Schedule of Investments in Available-for-Sale Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	$ 196,617	$ 170,536
Gross Unrealized Gains	25	140
Gross Unrealized Loss	(82)	0
Estimated Fair Value	196,559	170,676
U.S. Treasury
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	163,842	132,975
Gross Unrealized Gains	21	122
Gross Unrealized Loss	(73)	0
Estimated Fair Value	163,790	133,097
Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	15,377	23,164
Gross Unrealized Gains	4	18
Gross Unrealized Loss	(9)	0
Estimated Fair Value	15,371	23,182
Commercial paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	17,398	14,397
Gross Unrealized Gains	0	0
Gross Unrealized Loss	0	0
Estimated Fair Value	$ 17,398	$ 14,397

- Definition

Amount 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 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
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-Section 50
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482736/825-10-45-1A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
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Reference 10: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 11: http://www.xbrl.org/2003/role/exampleRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 45
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147481830/320-10-45-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 45
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479130/326-30-45-1

+ Details

Revenue from Contracts with Customers - Schedule of Rollforward of Current Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025	Dec. 31, 2024
Contract liabilities
Beginning balance			$ 42,708
Beginning balance	$ 47,912
Revenue recognized	(15,537)	$ (57,106)
Revenue deferred	16,476	62,310
Ending balance	$ 48,851	$ 47,912

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Accounting Policies [Abstract]
Cash	$ 31,806	$ 28,983
U.S. Treasury	949	16,434
Money market funds	32,910	45,436
Total cash and cash equivalents as presented on the unaudited interim consolidated statements of cash flows	$ 65,665	$ 90,853

- 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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-Paragraph 14
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-URI https://asc.fasb.org/1943274/2147477548/944-605-55-14

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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477796/946-210-45-20

+ Details

Property and Equipment, Net

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Property and equipment, net

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


	March 31, 2026		December 31, 2025
Laboratory equipment	$	11,923	$	11,877
Leasehold improvements	3,693		3,518
Building and land	8,013		7,922
Construction in progress	4,215		1,417
Office and computer equipment	3,048		2,950
Furniture and fixtures	2,634		2,459
Total property and equipment	33,526		30,143
Less: accumulated depreciation	(13,057)		(12,134)
Property and equipment, net	$	20,469	$	18,009

Total depreciation expense for the three months ended March 31, 2026 and 2025 was $1.0 million and $0.9 million, respectively.

Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2026

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):


	Three months ended March 31,
	2026		2025
Sales channel mix
Direct sales channel	$	30,269	$	29,970
Distributor channel	13,866		11,487
Total revenue, net	$	44,135	$	41,457

Customer mix
Academia and government	$	16,939	$	17,132
Biotechnology, pharmaceutical, distributor and contract research organizations	27,196		24,325
Total revenue, net	$	44,135	$	41,457

Schedule of Estimated Revenues Expected to be Recognized in the Future Related to 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 March 31, 2026 (in thousands):


	Less than 1 year		Greater than 1 year		Total
Product revenue	$	1,439	$	—	$	1,439
Service revenue	28,593		17,672		46,265
Total revenue	$	30,032	$	17,672	$	47,704

Schedule of Contract with Customer Contract Asset Contract Liability and Receivable

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


	March 31, 2026		December 31, 2025
Contract liabilities:
Deferred revenue, current	$	30,032	$	28,504
Deferred revenue, long-term	17,672		18,339
Customer deposits, which are included in 'Other current liabilities'	1,147		1,068
Total contract liabilities	$	48,851	$	47,912

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


Contract liabilities
Balance at December 31, 2024	$	42,708
Revenue recognized	(57,106)
Revenue deferred	62,310
Balance at December 31, 2025	$	47,912
Revenue recognized	(15,537)
Revenue deferred	16,476
Balance at March 31, 2026	$	48,851

Common Stock	3 Months Ended
Common Stock	Mar. 31, 2026
Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]
Common stock	Common stock As of March 31, 2026, 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 Company’s Board of Directors (the “Board”) 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.

Legal Settlement Liability - Schedule of Legal Settlement Liability (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Legal settlement liability	$ 2,208	$ 2,495
Legal settlement liability	6,637	6,786
Total legal settlement liability	$ 8,845	$ 9,281

Balance Sheet Details - Schedule of Components of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Prepaid expenses:
Prepaid inventory	$ 593	$ 228
Prepaid insurance	559	884
Prepaid income tax	2,772	2,789
Other	3,282	3,034
Other current assets:
Tax refund receivable	1,017	5,410
Tenant improvement receivables	3,558	4,208
Other	3,602	2,977
Total prepaid expenses and other current assets	$ 15,383	$ 19,530

Stock-Based Compensation Plan (Tables)

3 Months Ended

Mar. 31, 2026

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, 2025	9,140,164	$	7.91	6.82	$	6,918
Options granted	1,324,617	4.23
Options exercised	(67,199)	0.30
Options forfeited	—	—
Options expired	(4,000)	17.00
Balance as of March 31, 2026	10,393,582	$	7.49	7.01	$	4,218
Options exercisable as of March 31, 2026	6,220,003	$	9.13	5.7	$	3,767

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, 2025	4,567,103	$	5.97	1.31	$	23,064
Granted	3,314,859	4.23
Vested	(580,769)	7.28
Forfeited	(123,606)	7.08
Unvested balance at March 31, 2026	7,177,587	$	5.04	1.64	$	31,366

Schedule of Allocation 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):


	Three months ended March 31,
	2026		2025
Cost of sales	$	729	$	1,086
Research and development	963		1,577
Sales and marketing	779		1,205
General and administrative	2,390		2,762
Total stock-based compensation	$	4,861	$	6,630

Schedule of Weighted Average Valuation Assumptions Used in Determining the Fair Value of Employee Stock Options

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


	Three months ended March 31,
	2026		2025
Expected term (in years)	6.02		6.0
Expected volatility	66	%	66	%
Risk-free interest rate	4	%	4	%
Dividend yield	-		-

Schedule of Weighted Average Valuation Assumptions Used in Estimating the Fair Value of ESPP

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:


	Three months ended March 31,
	2026		2025
Expected term (in years)	0.5		0.5
Expected volatility	70	%	73	%
Risk-free interest rate	4	%	4	%
Dividend yield	-		-

Goodwill and Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]
Total amortization expense	$ 0.9	$ 0.9

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
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+ Details

Income Taxes - Schedule of Benefit from Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 1,493	$ 136
Income tax expense (benefit) increase (decrease)	$ 1,357
Effective income tax rate reconciliation, tax credit (as percent)	998.00%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Fair Value of Financial Instruments - Schedule of Financial Instruments Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	$ 196,560	$ 170,676
Total	230,418	232,546
U.S. Treasury
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	163,790	133,097
Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	15,371	23,182
Commercial paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	17,398	14,397
Quoted prices in active markets for identical assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	197,649	194,967
Quoted prices in active markets for identical assets (Level 1) \| U.S. Treasury
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	163,790	133,097
Quoted prices in active markets for identical assets (Level 1) \| Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	0	0
Quoted prices in active markets for identical assets (Level 1) \| Commercial paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	0	0
Significant other observable inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	32,769	37,579
Significant other observable inputs (Level 2) \| U.S. Treasury
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	0	0
Significant other observable inputs (Level 2) \| Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	15,371	23,182
Significant other observable inputs (Level 2) \| Commercial paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	17,398	14,397
Significant unobservable inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	0	0
Significant unobservable inputs (Level 3) \| U.S. Treasury
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	0	0
Significant unobservable inputs (Level 3) \| Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	0	0
Significant unobservable inputs (Level 3) \| Commercial paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	0	0
Money market funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	32,910	45,436
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]
Cash equivalents	32,910	45,436
Money market funds \| Significant other observable inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Money market funds \| Significant unobservable inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	0	0
U.S. Treasury
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	949	16,434
U.S. Treasury \| Quoted prices in active markets for identical assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	949	16,434
U.S. Treasury \| Significant other observable inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	0	0
U.S. Treasury \| Significant unobservable inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

Lease (Tables)

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Schedule of Components 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):


	Three months ended March 31,
	2026		2025
Operating lease cost	$	948	$	1,008
Short-term lease cost	18		11
Total lease cost	$	966	$	1,019

Schedule of Supplemental Cash Flow Information Related to Leases

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


	Three months ended March 31,
	2026		2025
Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$	873	$	1,022

Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	—	$	599

Schedule of Supplemental Balance Sheet Information Related to Leases

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


	March 31, 2026		December 31, 2025
Operating lease right-of-use assets, net of amortization	$	10,643	$	11,315
Included in other current liabilities:
Operating lease liabilities, current	$	2,944	$	2,880
Operating lease liabilities, noncurrent	13,441		14,042
Total operating lease liabilities	$	16,385	$	16,922

Weighted-average remaining lease term - operating leases:	5.27		5.36

Weighted-average discount rate - operating leases:	4.5%		4.5%

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

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):


Remainder of 2026	$	2,691
2027	3,961
2028	3,495
2029	1,830
2030	1,391
Thereafter	7,135
Total lease payments	$	20,503
Less imputed interest	(4,118)
Total present value of lease liabilities	$	16,385

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

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Basis of presentation

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

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.

Investments

than one year are classified as short-term investments. Investments with remaining maturities greater than one year are classified as long-term 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.

Inventories

Property and equipment, net

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			5 - 7 years
Laboratory equipment			5 - 10 years
Office and computer equipment			3 - 5 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			2 - 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

Goodwill and indefinite-lived intangible 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

Assurance-type product warranties

Research and development costs

Advertising costs

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

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 loss per share

Common stock equivalents are excluded from the computation of diluted net loss per share if their effect is antidilutive.

Business Combinations

Recently adopted and issued accounting pronouncements

Recently adopted accounting pronouncements

Recently issued accounting pronouncements

Balance Sheet Details

3 Months Ended

Mar. 31, 2026

Balance Sheet Related Disclosures [Abstract]

Balance sheet details

Inventories

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


	March 31, 2026		December 31, 2025
Raw materials	$	23,642	$	20,442
Work in progress	16,339		16,531
Finished goods	9,810		11,455
Total inventories	$	49,791	$	48,428

Prepaid expenses and other current assets

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


	March 31, 2026		December 31, 2025
Prepaid expenses:
Prepaid inventory	$	593	$	228
Prepaid insurance	559		884
Prepaid income tax	2,772		2,789
Other	3,282		3,034
Other current assets:
Tax refund receivable	1,017		5,410
Tenant improvement receivables	3,558		4,208
Other	3,602		2,977
Total prepaid expenses and other current assets	$	15,383	$	19,530

Accrued expenses

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


	March 31, 2026		December 31, 2025
Accrued expenses:
Accrued compensation and related benefits	$	8,071	$	15,192
Professional service fees	5,110		3,306
Purchases	2,519		1,836
Product warranty	1,425		1,457
Other	2,656		1,626
Total accrued expenses	$	19,781	$	23,417

For the product warranty analysis refer to Note 18.

Other current liabilities

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


	March 31, 2026		December 31, 2025
Other current liabilities:
Customer deposits	$	1,147	$	1,068
Income tax payable	3,798		3,067
Sales and use tax payable	3,233		3,216
Operating lease liability, current	2,944		2,880
Current portion of loan and line of credit	10,711		6,296
Other	340		451
Total other current liabilities	$	22,173	$	16,978

Stock-Based Compensation Plan - Schedule of Weighted Average Valuation Assumptions Used in Estimating the Fair Value of ESPP (Details) - ESPP	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 months	6 months
Expected volatility	70.00%	73.00%
Risk-free interest rate	4.00%	4.00%
Dividend yield	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

Description of Business	3 Months Ended
Description of Business	Mar. 31, 2026
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 is 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 FSP cell analyzers, the Cytek® Aurora™, Northern Lights™, and Cytek Aurora Evo systems, deliver high-resolution, high-content and high-sensitivity cell analysis. The Company also launched its Cytek Aurora cell sorter (“Aurora CS system”), 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.

Lease

3 Months Ended

Mar. 31, 2026

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 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 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 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):


	Three months ended March 31,
	2026		2025
Operating lease cost	$	948	$	1,008
Short-term lease cost	18		11
Total lease cost	$	966	$	1,019

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


	Three months ended March 31,
	2026		2025
Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$	873	$	1,022

Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	—	$	599

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


	March 31, 2026		December 31, 2025
Operating lease right-of-use assets, net of amortization	$	10,643	$	11,315
Included in other current liabilities:
Operating lease liabilities, current	$	2,944	$	2,880
Operating lease liabilities, noncurrent	13,441		14,042
Total operating lease liabilities	$	16,385	$	16,922

Weighted-average remaining lease term - operating leases:	5.27		5.36

Weighted-average discount rate - operating leases:	4.5%		4.5%


Remainder of 2026	$	2,691
2027	3,961
2028	3,495
2029	1,830
2030	1,391
Thereafter	7,135
Total lease payments	$	20,503
Less imputed interest	(4,118)
Total present value of lease liabilities	$	16,385

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2026

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:	March 31, 2026		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	$	32,910	$	32,910	$	—	$	—
U.S Treasury	949		949		—		—
Short-term investments:
U.S. Treasury	163,790		163,790		—		—
Corporate bonds	15,371		—		15,371		—
Commercial paper	17,398		—		17,398		—
Total	$	230,418	$	197,649	$	32,769	$	—


Description:	December 31, 2025		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	$	45,436	$	45,436	$	—	$	—
U.S. Treasury	16,434		16,434		—		—
Short-term investments:
U.S. Treasury	133,097		133,097		—		—
Corporate bonds	23,182		—		23,182		—
Commercial paper	14,397		—		14,397		—
Total	$	232,546	$	194,967	$	37,579	$	—

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 unaudited interim consolidated balance sheet as of March 31, 2026.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

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):


Remainder of 2026	$	1,077
2027	1,508
2028	101
Thereafter	4
Total Purchase Obligations	$	2,690

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.

Commitments and Contingencies (Details) $ in Thousands	Mar. 31, 2026 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2026	$ 1,077
2027	1,508
2028	101
Thereafter	4
Total Purchase Obligations	$ 2,690

Employee Benefit Plan	3 Months Ended
Employee Benefit Plan	Mar. 31, 2026
Retirement Benefits [Abstract]
Employee benefit plan	Employee benefit plans The Company sponsors various retirement plans for its eligible U.S. and non-U.S. employees. For U.S. employees, the Company currently maintains a 401(k) retirement savings plan (“401(k) Plan”). The 401(k) Plan permits voluntary contributions by employees, a portion of which is matched by the Company. The Company’s contributions to the employee benefits plans were approximately $0.5 million and $0.4 million for the three months ended March 31, 2026, and 2025, respectively.

Stock-Based Compensation Plan - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Number of options outstanding
Options outstanding, beginning balance (in shares)	9,140,164
Options granted (in shares)	1,324,617
Options exercised (in shares)	(67,199)
Options forfeited (in shares)	0
Options expired (in shares)	(4,000)
Options outstanding, ending balance (in shares)	10,393,582	9,140,164
Options exercisable (in shares)	6,220,003
Weighted-average exercise price
Beginning balance (in dollars per share)	$ 7.91
Options granted (in dollars per share)	4.23
Options exercised (in dollars per share)	0.30
Options forfeited (in dollars per share)	0
Options expired (in dollars per share)	17.00
Ending balance (in dollars per share)	7.49	$ 7.91
Options exercisable (in dollars per share)	$ 9.13
Weighted-average remaining contractual term (in years)
Weighted-average remaining contractual term (in years)	7 years 3 days	6 years 9 months 25 days
Options exercisable, weighted average remaining contractual term	5 years 8 months 12 days
Options outstanding, aggregate intrinsic value, beginning balance	$ 6,918
Options outstanding, aggregate intrinsic value, ending balance	4,218	$ 6,918
Stock options exercisable, aggregate intrinsic value	$ 3,767

Lease - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Leases [Abstract]
Operating lease cost	$ 948	$ 1,008
Short-term lease cost	18	11
Total lease cost	$ 966	$ 1,019

Segment Information and Geographic Data (Tables)

3 Months Ended

Mar. 31, 2026

Segments, Geographical Areas [Abstract]

Schedule of Significant Segment Expenses

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


	Three months ended March 31,
(In thousands)	2026		2025
Revenue, net:
Product	$	28,779	$	28,110
Service	15,356		13,347
Total revenue, net	44,135		41,457
Cost of sales (excluding stock-based compensation)	21,671		19,721
Amortization - license & IP expense	481		493
Sales (excluding stock-based compensation)	8,813		8,606
Marketing (excluding stock-based compensation)	2,053		2,699
Research and development (excluding stock-based compensation)	8,641		8,148
General and administrative (excluding stock-based compensation)	16,078		10,135
Stock-based compensation expense	4,861		6,630
Other segment items	403		(3,573)
Net loss	$	(18,866)	$	(11,402)

Schedule of Geographical Distribution of Revenue and Long-Lived Assets by Geographic Area

The geographical distribution of revenue for the three months ended March 31, 2026 and 2025 was as follows (in thousands):


	Three months ended March 31,
	2026		2025
United States	$	24,387	$	18,535
EMEA	10,765		11,566
APAC	7,751		8,891
Other	1,232		2,465
Total revenue, net	$	44,135	$	41,457

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


	March 31, 2026		December 31, 2025

United States	$	10,515	$	7,978
EMEA	436		425
APAC	9,518		9,606
Total	$	20,469	$	18,009

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Effective tax rate from continuing operations (as percent)	(8.60%)	(1.10%)
Income tax expense (benefit)	$ 1,493	$ 136
Income tax expense (benefit) increase (decrease)	$ 1,357

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

+ Details

Lease - Schedule of Future Undiscounted Cash Flows and Reconciliation to the Lease Liabilities Recognized (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Remainder of 2026	$ 2,691
2027	3,961
2028	3,495
2029	1,830
2030	1,391
Thereafter	7,135
Total lease payments	20,503
Less imputed interest	(4,118)
Total operating lease liabilities	$ 16,385	$ 16,922

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($) segment	Mar. 31, 2025 USD ($)	Dec. 31, 2025 USD ($)
Accounting Policies [Line Items]
Ownership percentage (as a percent)	50.00%
Number of reportable segments \| segment	1
Number of operating segments \| segment	1
Cash and cash equivalents	$ 65,665		$ 90,853
Cash, FDIC insured amount	$ 250
Upfront and payment terms (in days)	30 days
Product warranty obligation, term (in years)	1 year
Advertising, marketing and media expenses	$ 900	$ 1,200
Minimum
Accounting Policies [Line Items]
Delivery and payment terms (in days)	30 days
Service contracts terms (in years)	1 year
Maximum
Accounting Policies [Line Items]
Delivery and payment terms (in days)	90 days
Service contracts terms (in years)	3 years

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2026	Apr. 30, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		129,142,587
Entity Central Index Key	0001831915
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Amendment Flag	false

Segment Information and Geographic Data - Schedule of Long-Lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Revenues From External Customers And Long Lived Assets [Line Items]
Total	$ 20,469	$ 18,009
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Total	10,515	7,978
EMEA
Revenues From External Customers And Long Lived Assets [Line Items]
Total	436	425
APAC
Revenues From External Customers And Long Lived Assets [Line Items]
Total	$ 9,518	$ 9,606

Balance Sheet Details - Schedule of Components of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]
Raw materials	$ 23,642	$ 20,442
Work in progress	16,339	16,531
Finished goods	9,810	11,455
Total inventories	$ 49,791	$ 48,428

Goodwill and Intangible Assets, Net

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets, net

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


	March 31, 2026		December 31, 2025
Patents	$	787	$	1,077
Trade name	3,737		3,798
IP license	10,636		10,636
Customer relationships	11,381		11,390
Reagent license	1,800		1,800
Land use right	188		186
Total intangible assets	28,529		28,887
Less: accumulated amortization	(12,825)		(12,066)
Intangible assets, net	$	15,704	$	16,821
Goodwill	$	16,689	$	16,697

Total amortization expense for the three months ended March 31, 2026 and 2025 was approximately $0.9 million and $0.9 million, respectively. During the three months ended March 31, 2026, there were no additions to goodwill, the minor changes were due to the impact of foreign currency.

Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Mar. 31, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Common stock, par or stated value per share (in dollars 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)	129,142,587	128,550,136
Common stock, shares, outstanding (in shares)	129,142,587	128,550,136

Goodwill and Intangible Assets, Net (Tables)

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Components of Intangible Assets, Net

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


	March 31, 2026		December 31, 2025
Patents	$	787	$	1,077
Trade name	3,737		3,798
IP license	10,636		10,636
Customer relationships	11,381		11,390
Reagent license	1,800		1,800
Land use right	188		186
Total intangible assets	28,529		28,887
Less: accumulated amortization	(12,825)		(12,066)
Intangible assets, net	$	15,704	$	16,821
Goodwill	$	16,689	$	16,697

Lease - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Supplemental disclosure of cash flow information:
Operating lease right-of-use assets, net of amortization	$ 10,643	$ 11,315
Included in other current liabilities:
Operating lease liabilities, current	2,944	2,880
Operating lease liabilities, noncurrent	13,441	14,042
Total operating lease liabilities	$ 16,385	$ 16,922
Weighted-average remaining lease term - operating leases	5 years 3 months 7 days	5 years 4 months 9 days
Weighted-average discount rate - operating leases	4.50%	4.50%

Revenue from Contracts with Customers - Schedule of Estimated Revenues Expected to be Recognized in the Future Related to Performance Obligations (Details) $ in Thousands	Mar. 31, 2026 USD ($)
Disaggregation of Revenue [Line Items]
Total revenue	$ 47,704
Less than 1 year
Disaggregation of Revenue [Line Items]
Total revenue	30,032
Greater than 1 year
Disaggregation of Revenue [Line Items]
Total revenue	17,672
Product revenue
Disaggregation of Revenue [Line Items]
Total revenue	1,439
Product revenue \| Less than 1 year
Disaggregation of Revenue [Line Items]
Total revenue	1,439
Product revenue \| Greater than 1 year
Disaggregation of Revenue [Line Items]
Total revenue	0
Service revenue
Disaggregation of Revenue [Line Items]
Total revenue	46,265
Service revenue \| Less than 1 year
Disaggregation of Revenue [Line Items]
Total revenue	28,593
Service revenue \| Greater than 1 year
Disaggregation of Revenue [Line Items]
Total revenue	$ 17,672

- 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.

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Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
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-Section 55
-Paragraph 91
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

+ Details

Legal Settlement Liability (Tables)

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

Schedule of Legal Settlement Liability

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


	March 31, 2026		December 31, 2025
Current:
Legal settlement liability	$	2,208	$	2,495
Noncurrent:
Legal settlement liability	6,637		6,786
Total legal settlement liability	$	8,845	$	9,281

Employee Benefit Plan (Details) - USD ($) $ in Millions	3 Months Ended
Employee Benefit Plan (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Retirement Benefits [Abstract]
Employer contribution	$ 0.5	$ 0.4

Commitment and Contingencies (Tables)

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Payments Under Contractual Obligations

The following table summarizes the contractual maturities of the Company’s available-for-sale securities at March 31, 2026 (in thousands):


	March 31, 2026
	Amortized Cost		Fair Value
Mature in less than one year	$	196,617	$	196,559
Total	$	196,617	$	196,559

The following table summarizes the contractual maturities of the Company’s available-for-sale securities at December 31, 2025 (in thousands):


	December 31, 2025
	Amortized Cost		Fair Value
Mature in less than one year	$	170,536	$	170,676
Total	$	170,536	$	170,676

As of March 31, 2026, future payments under these contractual obligations were as follows (in thousands):


Remainder of 2026	$	1,077
2027	1,508
2028	101
Thereafter	4
Total Purchase Obligations	$	2,690

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

Schedule of Benefit from Income Taxes

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


	Three months ended March 31,				Change
	2026		2025		Amount		%

Provision for income taxes	$	1,493	$	136	$	1,357	998	%

Concentrations of Credit Risk and Other Risks and Uncertainties	3 Months Ended
	Mar. 31, 2026
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.

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-21

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (d)(2)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 275
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 275
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-URI https://asc.fasb.org/275/tableOfContent

+ Details

Debt	3 Months Ended
Debt	Mar. 31, 2026
Debt Disclosure [Abstract]
Debt	Debt On November 7, 2022, Cytek Wuxi entered a fixed asset loan agreement with Bank of Communications, China (the “Wuxi Loan”). The Wuxi Loan was 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 was 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 serves as collateral for the Wuxi Loan. The total loan amount was $2.9 million and the loan term is five years. As of March 31, 2026, the total outstanding loan amount is $1.0 million. The current portion of the loan, $0.6 million, is included in other current liabilities. As of March 31, 2026, the interest rate on the loan was 3.7%, which is based on the five-year Loan Prime Rate (LPR) plus a margin of 0.2%. On October 24, 2024, the Company signed a maximum credit agreement with the Bank of China, Wuxi Branch (the “Bank of China Maximum Credit Agreement”), for 37 million Chinese renminbi (approximately US $5.2 million), which was renewed on August 26, 2025. This credit is collateralized by Cytek Wuxi’s cash deposit to the bank. The 37 million Chinese renminbi (approximately US $5.2 million) can be borrowed, as needed, as a short-term loan for normal business operation requirements. Under the renewed Bank of China Maximum Credit Agreement, the line of credit is available until August 14, 2026. During the fourth quarter of 2024, the Company withdrew 20 million Chinese renminbi (approximately US $2.8 million) to support its operational needs. During the third quarter of 2025, the Company withdrew 15 million Chinese renminbi (approximately US $2.1 million) to support its operational needs. During the fourth quarter of 2025, the Company repaid the short-term loan of 20 million Chinese renminbi (approximately US $2.8 million) and withdrew 10 million Chinese renminbi (approximately US $1.4 million). In January 2026, the Company withdrew 10 million Chinese renminbi (approximately US $1.4 million) to support its operational needs. The remaining available credit as of March 31, 2026, was 2 million Chinese renminbi (approximately US $0.3 million). The total loan amount of 37 million Chinese renminbi (approximately US $5.2 million) is included in other current liabilities. On January 6, 2025, Cytek (Shanghai) Biosciences Co., Ltd. signed a maximum credit agreement with the Bank of Ningbo for 10 million Chinese renminbi (approximately US $1.4 million). Collateral for the credit was provided to the bank by Cytek Wuxi. In January and March of 2025, Cytek (Shanghai) Biosciences Co., Ltd. withdrew 2.0 million Chinese renminbi (approximately US $0.3 million) and 3.0 million Chinese renminbi (approximately US $0.45 million), respectively, to support its operational needs. The interest rate was at 3.1% and 2.55%, respectively, and the lines of credit are due on January 9 and March 3, 2026, respectively. In January and March 2026, the Company repaid 2.0 million Chinese renminbi (approximately US $0.3 million) and 3.0 million Chinese renminbi (approximately US $0.45 million) to the Bank of Ningbo, renewed its maximum credit agreement with the Bank of Ningbo for 10 million Chinese renminbi (approximately US $1.4 million), and withdrew 10 million Chinese renminbi (approximately US $1.4 million) to support its operational needs. The total loan amount of 10 million Chinese renminbi (approximately US $1.4 million) is included in other current liabilities. On June 11, 2025, Cytek Wuxi entered into a one-year loan agreement with Bank of Communications, China. The loan was 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 was fixed at 2.8%. The loan effective term is June 11, 2025 to June 10, 2026. The interest expenses are paid on a monthly basis. The loan was used for operating expenses. The total loan amount of 10 million Chinese renminbi (approximately US $1.4 million) is included in other current liabilities. On February 9, 2026, Cytek Wuxi entered into a one-year loan agreement with China Construction Bank Corporation, Wuxi Branch for 15 million Chinese renminbi (approximately US $2.2 million) at a fixed interest rate of 2.5%, with interest payable monthly. The total loan amount of 15 million Chinese renminbi (approximately US $2.2 million) is included in other current liabilities. The loan matures on February 9, 2027 and is used to pay operating expenses.

- 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 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (b)
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Section 45
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-Publisher FASB
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Product Warranty (Tables)

3 Months Ended

Mar. 31, 2026

Product Warranties Disclosures [Abstract]

Schedule of Activity in Product Warranty Accrual

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


	March 31, 2026		December 31, 2025
Balance, beginning of the period	$	1,457	$	1,796
Accrual for current year warranties	370		1,098
Warranty cost incurred	(402)		(1,437)
Balance, end of period	$	1,425	$	1,457

Segment Information and Geographic Data - Schedule of Significant Segment Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
Total revenue, net	$ 44,135	$ 41,457
Stock-based compensation expense	4,861	6,630
Net loss	(18,866)	(11,402)
Reportable Segment
Segment Reporting Information [Line Items]
Total revenue, net	44,135	41,457
Cost of sales (excluding stock-based compensation)	21,671	19,721
Amortization - license & IP expense	481	493
Sales (excluding stock-based compensation)	8,813	8,606
Marketing (excluding stock-based compensation)	2,053	2,699
Research and development (excluding stock-based compensation)	8,641	8,148
General and administrative (excluding stock-based compensation)	16,078	10,135
Stock-based compensation expense	4,861	6,630
Other segment items	403	(3,573)
Net loss	(18,866)	(11,402)
Product
Segment Reporting Information [Line Items]
Total revenue, net	28,779	28,110
Product \| Reportable Segment
Segment Reporting Information [Line Items]
Total revenue, net	28,779	28,110
Service
Segment Reporting Information [Line Items]
Total revenue, net	15,356	13,347
Service \| Reportable Segment
Segment Reporting Information [Line Items]
Total revenue, net	$ 15,356	$ 13,347

Segment Information and Geographic Data

3 Months Ended

Mar. 31, 2026

Segments, Geographical Areas [Abstract]

Segment Information and Geographic Data

Segment Information

The Company operates and manages its business activities on a consolidated basis and has one 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’s unaudited interim consolidated balance sheets.

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


	Three months ended March 31,
(In thousands)	2026		2025
Revenue, net:
Product	$	28,779	$	28,110
Service	15,356		13,347
Total revenue, net	44,135		41,457
Cost of sales (excluding stock-based compensation)	21,671		19,721
Amortization - license & IP expense	481		493
Sales (excluding stock-based compensation)	8,813		8,606
Marketing (excluding stock-based compensation)	2,053		2,699
Research and development (excluding stock-based compensation)	8,641		8,148
General and administrative (excluding stock-based compensation)	16,078		10,135
Stock-based compensation expense	4,861		6,630
Other segment items	403		(3,573)
Net loss	$	(18,866)	$	(11,402)

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):


	Three months ended March 31,
	2026		2025
United States	$	24,387	$	18,535
EMEA	10,765		11,566
APAC	7,751		8,891
Other	1,232		2,465
Total revenue, net	$	44,135	$	41,457

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):


	March 31, 2026		December 31, 2025

United States	$	10,515	$	7,978
EMEA	436		425
APAC	9,518		9,606
Total	$	20,469	$	18,009

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.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Net Loss Attributable to Common Stockholders Per Share - Schedule of Computation of the Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Numerator
Net loss	$ (18,866)	$ (11,402)
Denominator
Weighted-average common shares outstanding, basic (in shares)	128,704,934	128,339,481
Weighted-average common shares outstanding, diluted (in shares)	128,704,934	128,339,481
Net loss per share, basic (in dollars per share)	$ (0.15)	$ (0.09)
Net loss per share, diluted (in dollars per share)	$ (0.15)	$ (0.09)

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The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.

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+ Details

Fair Value of Financial Instruments - Additional Information (Details) $ in Millions	Mar. 31, 2026 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Non-marketable equity investments	$ 1.6

- Definition

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

+ References + Details

Segment Information and Geographic Data - Schedule of Geographical Distribution of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue, net	$ 44,135	$ 41,457
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue, net	24,387	18,535
EMEA
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue, net	10,765	11,566
APAC
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue, net	7,751	8,891
Other
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue, net	$ 1,232	$ 2,465

- 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

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+ Details

Stock-Based Compensation Plan - Schedule of Weighted Average Valuation Assumptions Used in Determining the Fair Value of Employee Stock Options (Details) - Share-based Payment Arrangement, Option	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 years 7 days	6 years
Expected volatility	66.00%	66.00%
Risk-free interest rate	4.00%	4.00%
Dividend yield	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

Stock-Based Compensation Plan - Schedule of Allocation of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 4,861	$ 6,630
Cost of sales
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	729	1,086
Research and development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	963	1,577
Sales and marketing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	779	1,205
General and administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 2,390	$ 2,762

- 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 - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$ 873	$ 1,022
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$ 0	$ 599

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1.0	$ 0.9

Product Warranty

3 Months Ended

Mar. 31, 2026

Product Warranties Disclosures [Abstract]

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):


	March 31, 2026		December 31, 2025
Balance, beginning of the period	$	1,457	$	1,796
Accrual for current year warranties	370		1,098
Warranty cost incurred	(402)		(1,437)
Balance, end of period	$	1,425	$	1,457

Stock-Based Compensation Plan

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Stock-based compensation plan

Stock Plans

As of March 31, 2026, 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 (the “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 March 31, 2026, the total number of shares of common stock available for issuance under the 2021 Plan was 24,218,755 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. As of March 31, 2026, the total number of shares of common stock available for issuance under the ESPP was 7,250,921 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, 2025	9,140,164	$	7.91	6.82	$	6,918
Options granted	1,324,617	4.23
Options exercised	(67,199)	0.30
Options forfeited	—	—
Options expired	(4,000)	17.00
Balance as of March 31, 2026	10,393,582	$	7.49	7.01	$	4,218
Options exercisable as of March 31, 2026	6,220,003	$	9.13	5.7	$	3,767

The weighted-average grant date fair value of options granted during the three months ended March 31, 2026 and 2025 was $2.66 and $2.72 per share, respectively.

There was $12.9 million of unrecognized stock-based compensation expense related to unvested stock options as of March 31, 2026. The unrecognized stock-based compensation expense is estimated to be recognized over a period of 2.72 years as of March 31, 2026.

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 March 31, 2026.

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, 2025	4,567,103	$	5.97	1.31	$	23,064
Granted	3,314,859	4.23
Vested	(580,769)	7.28
Forfeited	(123,606)	7.08
Unvested balance at March 31, 2026	7,177,587	$	5.04	1.64	$	31,366

As of March 31, 2026, there was $34.6 million of unrecognized stock-based compensation expense related to unvested RSU awards. The unrecognized stock-based compensation expense is estimated to be recognized over a weighted-average period of approximately 3.08 years.

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):


	Three months ended March 31,
	2026		2025
Cost of sales	$	729	$	1,086
Research and development	963		1,577
Sales and marketing	779		1,205
General and administrative	2,390		2,762
Total stock-based compensation	$	4,861	$	6,630

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


	Three months ended March 31,
	2026		2025
Expected term (in years)	6.02		6.0
Expected volatility	66	%	66	%
Risk-free interest rate	4	%	4	%
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:


	Three months ended March 31,
	2026		2025
Expected term (in years)	0.5		0.5
Expected volatility	70	%	73	%
Risk-free interest rate	4	%	4	%
Dividend yield	-		-

Property and Equipment, Net (Tables)

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Schedule of Components of Property and Equipment, Net

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


	March 31, 2026		December 31, 2025
Laboratory equipment	$	11,923	$	11,877
Leasehold improvements	3,693		3,518
Building and land	8,013		7,922
Construction in progress	4,215		1,417
Office and computer equipment	3,048		2,950
Furniture and fixtures	2,634		2,459
Total property and equipment	33,526		30,143
Less: accumulated depreciation	(13,057)		(12,134)
Property and equipment, net	$	20,469	$	18,009

Legal Settlement Liability

3 Months Ended

Mar. 31, 2026

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-transferable 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 with the second quarter of 2022, the remaining contractual payments were classified as operating expenses as they were considered deferred litigation settlement. The Company recorded $0.2 million and $0.3 million of interest expense for the three months ended March 31, 2026 and 2025, 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 unaudited interim consolidated balance sheets of $8.8 million and $9.3 million as of March 31, 2026 and December 31, 2025, respectively.

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


	March 31, 2026		December 31, 2025
Current:
Legal settlement liability	$	2,208	$	2,495
Noncurrent:
Legal settlement liability	6,637		6,786
Total legal settlement liability	$	8,845	$	9,281

Net Loss Attributable to Common Stockholders Per Share

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

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):


	Three months ended March 31,
	2026		2025
Numerator
Net loss	$	(18,866)	$	(11,402)

Denominator
Weighted-average common shares outstanding, basic	128,704,934		128,339,481
Weighted-average common shares outstanding, diluted	128,704,934		128,339,481

Net loss per share, basic	$	(0.15)	$	(0.09)
Net loss per share, diluted	$	(0.15)	$	(0.09)

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.

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2026

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:	March 31, 2026		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	$	32,910	$	32,910	$	—	$	—
U.S Treasury	949		949		—		—
Short-term investments:
U.S. Treasury	163,790		163,790		—		—
Corporate bonds	15,371		—		15,371		—
Commercial paper	17,398		—		17,398		—
Total	$	230,418	$	197,649	$	32,769	$	—


Description:	December 31, 2025		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	$	45,436	$	45,436	$	—	$	—
U.S. Treasury	16,434		16,434		—		—
Short-term investments:
U.S. Treasury	133,097		133,097		—		—
Corporate bonds	23,182		—		23,182		—
Commercial paper	14,397		—		14,397		—
Total	$	232,546	$	194,967	$	37,579	$	—

Net Loss Attributable to Common Stockholders Per Share - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (in shares)	1,600,000	1,700,000
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (in shares)	671,835	141,556
Share-based Payment Arrangement, Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (in shares)	938,462	1,475,367
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (in shares)	5,566	50,127

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Estimated Useful Life of Property and Equipment (Details)	Mar. 31, 2026
Building
Accounting Policies [Line Items]
Estimated Useful Lives	20 years
Furniture and fixtures \| Minimum
Accounting Policies [Line Items]
Estimated Useful Lives	5 years
Furniture and fixtures \| Maximum
Accounting Policies [Line Items]
Estimated Useful Lives	7 years
Laboratory equipment \| Minimum
Accounting Policies [Line Items]
Estimated Useful Lives	5 years
Laboratory equipment \| Maximum
Accounting Policies [Line Items]
Estimated Useful Lives	10 years
Office and computer equipment \| Minimum
Accounting Policies [Line Items]
Estimated Useful Lives	3 years
Office and computer equipment \| Maximum
Accounting Policies [Line Items]
Estimated Useful Lives	5 years

Balance Sheet Details - Schedule of Components of Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]
Customer deposits	$ 1,147	$ 1,068
Income tax payable	3,798	3,067
Sales and use tax payable	3,233	3,216
Operating lease liability, current	$ 2,944	$ 2,880
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total other current liabilities	Total other current liabilities
Current portion of loan and line of credit	$ 10,711	$ 6,296
Other	340	451
Total other current liabilities	$ 22,173	$ 16,978

Segment Information and Geographic Data - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($) segment	Mar. 31, 2025 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments \| segment	1
Number of reportable segments \| segment	1
Total revenue, net	$ 44,135	$ 41,457
United States
Segment Reporting Information [Line Items]
Total revenue, net	24,387	18,535
China
Segment Reporting Information [Line Items]
Total revenue, net	$ 3,600	$ 5,300

- Definition

+ References

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+ Details

Common Stock (Details)	Mar. 31, 2026 vote $ / shares shares	Dec. 31, 2025 $ / shares shares
Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]
Common stock, shares authorized (in shares) \| shares	1,000,000,000	1,000,000,000
Common stock, par or stated value per share (in dollars per share) \| $ / shares	$ 0.001	$ 0.001
Number of vote per share \| vote	1

Net Loss Attributable to Common Stockholders Per Share (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Computation of the Basic and Diluted Net Loss Per Share


	Three months ended March 31,
	2026		2025
Numerator
Net loss	$	(18,866)	$	(11,402)

Denominator
Weighted-average common shares outstanding, basic	128,704,934		128,339,481
Weighted-average common shares outstanding, diluted	128,704,934		128,339,481

Net loss per share, basic	$	(0.15)	$	(0.09)
Net loss per share, diluted	$	(0.15)	$	(0.09)

Legal Settlement Liability - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended
	Feb. 13, 2018	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025	Dec. 31, 2020
Loss Contingencies [Line Items]
Upfront payment	$ 2,000
Royalty payment duration (in years)	10 years
Mile stone payment	$ 6,000
Common stock, shares issued (in shares)		129,142,587		128,550,136
Litigation settlement interest		$ 200	$ 300
Settlement liabilities, payment period (in years)		10 years
Legal settlement liability, current		$ 2,208		$ 2,495
Becton, Dickinson And Company VS. Cytek
Loss Contingencies [Line Items]
Legal settlement liability, current		$ 8,800		$ 9,300
Patent
Loss Contingencies [Line Items]
Finite-lived intangible asset, average useful life (in months)		18 months
Common stock
Loss Contingencies [Line Items]
Common stock, shares issued (in shares)					2,087,545

Investments (Tables)

3 Months Ended

Mar. 31, 2026

Investments [Abstract]

Schedule of Investments in 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 March 31, 2026 (in thousands):


	March 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss		Estimated Fair Value
U.S. Treasury	$	163,842	$	21	$	(73)	$	163,790
Corporate bonds	15,377		4		(9)		15,371
Commercial paper	17,398		—		—		17,398
Total available-for-sale investments	$	196,617	$	25	$	(82)	$	196,559

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, 2025 (in thousands):


	December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss		Estimated Fair Value
U.S. Treasury	$	132,975	$	122	$	—	$	133,097
Corporate bonds	23,164		18		—		23,182
Commercial paper	14,397		—		—		14,397
Total available-for-sale investments	$	170,536	$	140	$	—	$	170,676

Schedule of the Contractual Maturities of Available-for-Sale Securities

The following table summarizes the contractual maturities of the Company’s available-for-sale securities at March 31, 2026 (in thousands):


	March 31, 2026
	Amortized Cost		Fair Value
Mature in less than one year	$	196,617	$	196,559
Total	$	196,617	$	196,559

The following table summarizes the contractual maturities of the Company’s available-for-sale securities at December 31, 2025 (in thousands):


	December 31, 2025
	Amortized Cost		Fair Value
Mature in less than one year	$	170,536	$	170,676
Total	$	170,536	$	170,676

As of March 31, 2026, future payments under these contractual obligations were as follows (in thousands):


Remainder of 2026	$	1,077
2027	1,508
2028	101
Thereafter	4
Total Purchase Obligations	$	2,690

- 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).

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+ Details

Revenue from Contracts with Customers - Schedule of Information About Receivables, Deferred Revenue From Contracts With Customers and Customer Deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Contract liabilities:
Deferred revenue, current	$ 30,032	$ 28,504
Deferred revenue, long-term	17,672	18,339
Customer deposits, which are included in 'Other current liabilities'	1,147	1,068
Total contract liabilities	$ 48,851	$ 47,912

Revenue from Contracts with Customers - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Disaggregation of Revenue [Line Items]
Total revenue, net	$ 44,135	$ 41,457
Academia and government
Disaggregation of Revenue [Line Items]
Total revenue, net	16,939	17,132
Biotechnology, pharmaceutical, distributor and contract research organizations
Disaggregation of Revenue [Line Items]
Total revenue, net	27,196	24,325
Direct sales channel
Disaggregation of Revenue [Line Items]
Total revenue, net	30,269	29,970
Distributor channel
Disaggregation of Revenue [Line Items]
Total revenue, net	$ 13,866	$ 11,487

- Definition

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Reference 14: 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 15: 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 16: 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

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities:
Net loss	$ (18,866)	$ (11,402)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	1,865	1,875
Amortization of operating lease-right-of use assets	948	1,009
Stock-based compensation	4,861	6,630
Loss on disposal of property and equipment	55	101
Provision for credit losses	459	0
Provision for excess and obsolete inventory	193	314
Deferred income taxes	(183)	(336)
Gain on investments, accretion, and amortization, net	(1,255)	(1,493)
Interest expenses for accretion of the legal settlement liabilities	(47)	148
Other non-cash expense (income), net	236	0
Change in operating assets and liabilities:
Trade accounts receivable	9,645	6,449
Inventories	(1,627)	(1,503)
Prepaid expenses and other assets	3,853	(149)
Trade accounts payable	390	410
Accrued expenses and other liabilities	(3,890)	(2,121)
Legal settlement liabilities	(389)	(365)
Operating lease liabilities	(159)	(1,035)
Deferred revenue	1,175	1,343
Net cash (used in) operating activities	(2,736)	(125)
Cash flows from investing activities:
Purchases of marketable securities	(95,598)	(60,161)
Proceeds from maturities of marketable securities	70,714	70,431
Proceeds from sale of property and equipment	6	33
Purchase of property and equipment	(2,168)	(849)
Purchase of intangible assets	(33)	(2)
Net cash (used in) provided by investing activities	(27,079)	9,452
Cash flows from financing activities:
Repayment of loan	(869)	(1,518)
Payments for taxes related to net share settlement of equity awards	(239)	(129)
Proceeds from issuance of common stock under employee stock plans	21	39
Proceeds from line of credit	5,068	690
Payments for repurchase of shares	0	(10,627)
Net cash provided by (used in) financing activities	3,981	(11,545)
Effect of exchange rate changes on cash and cash equivalents	646	(1,228)
Cash and cash equivalents:
Net (decrease) in cash and cash equivalents	(25,188)	(3,446)
Cash and cash equivalents at beginning of period	90,853	98,745
Cash and cash equivalents at end of period	65,665	95,299
Supplemental disclosure of cash flow information:
Cash paid for taxes, net of refunds	(3,748)	0
Interest received on tax refunds	(180)	0
Non-cash investing and financing activities:
Fixed asset purchases in accounts payable or accrued purchase at period end	1,308	234
Intangible asset in accounts payable or accrued expenses at period end	3	47
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 0	$ 599

Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2026

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):


	Three months ended March 31,
	2026		2025
Sales channel mix
Direct sales channel	$	30,269	$	29,970
Distributor channel	13,866		11,487
Total revenue, net	$	44,135	$	41,457

Customer mix
Academia and government	$	16,939	$	17,132
Biotechnology, pharmaceutical, distributor and contract research organizations	27,196		24,325
Total revenue, net	$	44,135	$	41,457

Revenue by geographical markets is presented in Note 20.

Remaining performance obligations


	Less than 1 year		Greater than 1 year		Total
Product revenue	$	1,439	$	—	$	1,439
Service revenue	28,593		17,672		46,265
Total revenue	$	30,032	$	17,672	$	47,704

Contract balances

The Company had immaterial amounts of contract assets included within prepaid expenses and other current assets on the unaudited interim consolidated balance sheets. The following table provides information about deferred revenue from contracts with customers, and customer deposits (in thousands):


	March 31, 2026		December 31, 2025
Contract liabilities:
Deferred revenue, current	$	30,032	$	28,504
Deferred revenue, long-term	17,672		18,339
Customer deposits, which are included in 'Other current liabilities'	1,147		1,068
Total contract liabilities	$	48,851	$	47,912

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


Contract liabilities
Balance at December 31, 2024	$	42,708
Revenue recognized	(57,106)
Revenue deferred	62,310
Balance at December 31, 2025	$	47,912
Revenue recognized	(15,537)
Revenue deferred	16,476
Balance at March 31, 2026	$	48,851

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Investments - Schedule of the Contractual Maturities of Available-for-Sale Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	$ 196,617	$ 170,536
Fair Value	196,559	170,676
Mature in less than one year
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	196,617	170,536
Fair Value	$ 196,559	$ 170,676

- Definition

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

+ References

+ Details

Goodwill and Intangible Assets, Net - Schedule of Components of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 28,529	$ 28,887
Less: accumulated amortization	(12,825)	(12,066)
Intangible assets, net	15,704	16,821
Goodwill	16,689	16,697
Patents
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	787	1,077
Trade name
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	3,737	3,798
IP license
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	10,636	10,636
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	11,381	11,390
Reagent license
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	1,800	1,800
Land use right
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 188	$ 186

Income Taxes

3 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

Income taxes

statements of operations and comprehensive loss. Accrued interest and penalties, if any, are included in accrued expenses in the unaudited interim 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’s effective income tax rate from continuing operations was (8.6)% and (1.1)% for the three months ended March 31, 2026 and 2025, respectively. The Company’s effective income tax rate for the three months ended March 31, 2026, is lower than the U.S. federal statutory tax rate due to valuation allowance, which derecognizes deferred tax assets and related future tax benefits, partially offset by the impact of state income taxes, naked credits related to indefinitely lived goodwill, and the Company’s mix of earnings between various taxing jurisdictions. The effective income tax rate for the three months ended March 31, 2025, was lower than the U.S. federal statutory tax rate primarily due to state income taxes, non-deductible stock-based compensation, the Company’s mix of earnings between various taxing jurisdictions, partially offset by a deduction for foreign-sourced revenue, and federal and state research credits.

Realization of the Company’s deferred tax assets is dependent primarily on the generation of future taxable income. In considering the need for a valuation allowance, the Company considers its historical, as well as future projected, taxable income along with other objectively verifiable evidence. Objectively verifiable evidence includes the Company’s realization of tax attributes, assessment of tax credits, and utilization of net operating loss carryforwards during the year.

Components of our results of operations:

Income Taxes:

As of December 31, 2025, the Company maintained a valuation allowance against all deferred tax assets as Management believed these were not more likely than not to be realized. The Company continues to reassess the valuation allowance quarterly, and if future evidence allows for a partial or full release of the valuation allowance, a tax benefit will be recorded accordingly.

On July 4, 2025, legislation commonly referred to as the One Big Beautiful Bill Act (“OBBBA”) was signed into law in the U.S. The OBBBA includes significant changes to the U.S. Internal Revenue Code of 1986, as amended, including restoration of immediate deductions of domestic research and experimental expenditures and reinstatement of 100% bonus depreciation for qualifying property. The Company continues to evaluate the impact of the OBBBA on its unaudited interim consolidated financial statements, including the effects on its deferred tax assets and liabilities. The provisions of the OBBBA will allow a deduction for unamortized domestic research and development expenses of approximately $58 million in 2025, which will decrease taxable income and eliminate permanent deductions for Global Intangible Low-Taxed Income and Foreign Derived Intangible Income, causing an increase in the effective tax rate. In addition, there will be an impact in future years due to changes in these two deductions that are not expected to have a material impact to the Company.

The Company’s income tax expenses consists primarily of provision for foreign taxes. As the Company plans to expand the scale and scope of its international business activities, any changes in the United States and foreign taxation of such activities may increase the Company’s overall provision for income taxes in the future.

Results of operations:

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


	Three months ended March 31,				Change
	2026		2025		Amount		%

Provision for income taxes	$	1,493	$	136	$	1,357	998	%

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.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-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 10: 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 11: 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 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 13: 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 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 15: 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 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
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Reference 17: 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

Stock-Based Compensation Plan - Schedule of RSU Awards Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Weighted-average grant date fair value per share
Weighted-average remaining contractual term (in years)	7 years 3 days	6 years 9 months 25 days
Aggregate intrinsic value (in thousands)	$ 4,218	$ 6,918
Restricted Stock Units (RSUs)
Shares
Unvested balance, beginning balance (in shares)	4,567,103
Granted (in shares)	3,314,859
Vested (in shares)	(580,769)
Forfeited (in shares)	(123,606)
Unvested balance, ending balance (in shares)	7,177,587	4,567,103
Weighted-average grant date fair value per share
Beginning balance (in dollars per share)	$ 5.97
Granted (in dollars per share)	4.23
Vested (in dollars per share)	7.28
Forfeited (in dollars per share)	7.08
Ending balance (in dollars per share)	$ 5.04	$ 5.97
Weighted-average remaining contractual term (in years)	1 year 7 months 20 days	1 year 3 months 21 days
Aggregate intrinsic value (in thousands)	$ 31,366	$ 23,064

Stock-Based Compensation Plan - Additional Information (Details) $ / shares in Units, $ in Millions		3 Months Ended
	Jul. 31, 2021 shares	Mar. 31, 2026 USD ($) plan $ / shares shares	Mar. 31, 2025 $ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of stock-based compensation plan \| plan		3
Weighted-average grant date fair value of options granted (in dollars per share) \| $ / shares		$ 2.66	$ 2.72
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 \| $		$ 12.9
Unrecognized stock-based compensation expense estimated, recognition period (in years)		2 years 8 months 19 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 \| $		$ 34.6
Unrecognized stock-based compensation expense estimated, recognition period (in years)		3 years 29 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	24,218,755
Annual increase to common stock reserved for issuance (as percent)	4.00%
2021 Employee Stock Purchase Plan \| Employee Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	2,000,000	7,250,921
Annual increase to common stock reserved for issuance (as percent)	1.00%
Shares outstanding (in shares)	5,000,000

Debt - Additional Information (Details) $ in Thousands, ¥ in Millions			1 Months Ended									3 Months Ended
	Feb. 09, 2026 USD ($)	Jun. 11, 2025 USD ($)	Mar. 31, 2026 USD ($)	Mar. 31, 2026 CNY (¥)	Jan. 31, 2026 USD ($)	Jan. 31, 2026 CNY (¥)	Mar. 31, 2025 USD ($)	Mar. 31, 2025 CNY (¥)	Jan. 31, 2025 USD ($)	Jan. 31, 2025 CNY (¥)	Apr. 30, 2023 USD ($)	Mar. 31, 2026 USD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Sep. 30, 2025 USD ($)	Sep. 30, 2025 CNY (¥)	Mar. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 CNY (¥)	Mar. 31, 2026 CNY (¥)	Feb. 09, 2026 CNY (¥)	Jan. 31, 2026 CNY (¥)	Jun. 11, 2025 CNY (¥)	Jan. 06, 2025 USD ($)	Jan. 06, 2025 CNY (¥)	Oct. 24, 2024 USD ($)	Oct. 24, 2024 CNY (¥)
Debt Conversion [Line Items]
Proceeds from lines of credit												$ 5,068					$ 690
Wuxi Loan
Debt Conversion [Line Items]
Loan amount			$ 1,000								$ 2,900	1,000
Debt instrument term (in years)											5 years
Portion of loan included in current liabilities			$ 600									$ 600
Interest rate on loan (as percent)			3.70%									3.70%								3.70%
Debt instrument, basis spread on variable rate (as percent)												0.20%
Revolving Credit Facility \| Bank of Ningbo Maximum Credit Agreement \| Line of Credit
Debt Conversion [Line Items]
Line of credit facility, maximum borrowing capacity			$ 1,400		$ 1,400							$ 1,400								¥ 10.0		¥ 10.0		$ 1,400	¥ 10.0
Proceeds from lines of credit			1,400	¥ 10.0	1,400	¥ 10.0	$ 450	¥ 3.0	$ 300	¥ 2.0
Repayments of lines of credit			450		300	2.0		¥ 3.0
Interest rate (as percent)							2.55%	2.55%	3.10%	3.10%							2.55%
Revolving Credit Facility \| Bank of China Maximum Credit Agreement \| Line of Credit
Debt Conversion [Line Items]
Line of credit facility, maximum borrowing capacity																										$ 5,200	¥ 37.0
Revolving Credit Facility \| Bank of China Maximum Credit Renewal Agreement \| Line of Credit
Debt Conversion [Line Items]
Proceeds from lines of credit					$ 1,400	¥ 10.0							$ 1,400	¥ 10.0	$ 2,100	¥ 15.0		$ 2,800	¥ 20.0
Repayments of lines of credit													$ 2,800	¥ 20.0
Long-term line of credit			$ 300									$ 300								¥ 2.0
Revolving Credit Facility \| Bank of Communication, China, Loan Agreement \| Line of Credit
Debt Conversion [Line Items]
Line of credit facility, maximum borrowing capacity		$ 1,400																					¥ 10.0
Debt instrument term (in years)		1 year
Interest rate (as percent)		2.80%																					2.80%
Revolving Credit Facility \| China Construction Bank Corporation, Loan Agreement \| Line of Credit
Debt Conversion [Line Items]
Line of credit facility, maximum borrowing capacity	$ 2,200																				¥ 15.0
Debt instrument term (in years)	1 year
Interest rate (as percent)	2.50%																				2.50%