Debt

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Debt

12.    Debt

On November 7, 2022, Cytek (Wuxi) Biosciences Co., Ltd, the Company’s China subsidiary (“Cytek Wuxi”), entered a fixed asset loan agreement with Bank of Communications, China. The loan is denominated in Chinese renminbi and collateralized by Cytek Wuxi's cash deposit to the bank. The deposit is in a separate account with Cytek Wuxi's name, but the use of such account is 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 served as collateral. The total loan amount was $2.9 million and the loan term is five years. As of December 31, 2023, the total loan amount left is $2.2 million. The current portion of the loan, $0.6 million, is included in other current liabilities. The fixed interest rate on the loan was 4.5%.