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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Cash flows from operating activities:      
Net (loss) income $ (6,020) $ (12,148) $ 2,484
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:      
Depreciation and amortization 7,212 6,048 2,492
Amortization of operating lease-right-of use assets 3,278 3,182 3,167
Allowance for credit losses (64) 269 102
Stock-based compensation 26,848 22,048 16,595
Loss on disposal of property and equipment 55 7 0
Provision for excess and obsolete inventory 1,646 1,468 756
Deferred income taxes (2,886) 0 0
Gain on investments, accretion, and amortization, net (5,211) (6,661) (77)
Interest expenses for accretion of the legal settlement liabilities (7,192) 1,577 2,178
Change in operating assets and liabilities:      
Trade accounts receivable (5,428) (7,332) (19,744)
Inventories 14,755 4,286 (17,653)
Prepaid expenses and other assets (2,809) (9,515) (19,362)
Trade accounts payable 2,582 (1,784) 1,862
Accrued expenses and other liabilities (817) 729 7,470
Legal settlement liabilities (1,105) (298) 373
Deferred revenue 3,737 6,520 9,411
Lease liabilities (3,202) (3,115) (2,285)
Net cash provided by (used in) operating activities 25,379 5,281 (12,231)
Cash flows from investing activities:      
Purchases of marketable securities (274,062) (175,935) (44,454)
Maturities of marketable securities 195,000 132,000 0
Purchase of property and equipment (3,525) (4,648) (9,748)
Proceeds from sales of property and equipment 288 0 0
Acquisition of business (471) (44,896) 0
Purchase of intangible assets (patents) (204) (179) (120)
Payment for investment 0 0 (1,587)
Payment for additional investment in Cytek Japan, net of cash acquired 0 (236) 0
Net cash used in investing activities (82,974) (93,894) (55,909)
Cash flows from financing activities:      
Proceeds from line of credit 4,181 0 0
Payment for repurchase of shares (21,611) (44,151) 0
Proceeds from loan 0 0 2,983
Repayment of loan (557) (565) (50)
Proceeds from Employee Stock Purchase Plan 1,704 1,855 1,585
Payments for taxes related to net share settlement of equity awards (554) (419) (209)
Proceeds from issuance of common stock under employee stock plans 1,015 1,468 1,204
Net cash (used in) provided by financing activities (15,822) (41,812) 5,513
Effect of exchange rate changes on cash, cash equivalents and restricted cash 4,532 (1,445) (2,491)
Cash, cash equivalents and restricted cash:      
Net decrease in cash, cash equivalents and restricted cash (68,885) (131,870) (65,118)
Cash, cash equivalents and restricted cash at beginning of period 167,630 299,500 364,618
Cash, cash equivalents and restricted cash at end of period 98,745 167,630 299,500
Supplemental disclosure of cash flow information:      
Cash paid for taxes 3,828 5,305 10,390
Non-cash investing and financing activities:      
Fixed asset purchases in accounts payable at period end 177 40 67
Intangible asset in accrued expenses at period end 0 510 30
Accrued excise taxes for share repurchase 0 320 0
Derecognition of right-of-use assets 205 0 0
Stock option exercise in other receivables at period end 0 0 96
Operating Lease Right-of-use assets obtained in exchange for operating lease liabilities 2,716 0 0
Holdback amount in business acquisition $ 100 $ 0 $ 0