Cytek Biosciences, Inc.

Today, and thank you for standing by, welcome to the SciTech Biosciences second quarter 2023 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone. You will then hear an automated message advising you your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Paul Goodson with Investor Relations.

Thank you, Operator. Earlier today, SciTech Biosciences released financial results for the quarter ended June 30th, 2023. If you haven't received this news release or if you'd like to be added to the company's distribution list, Please send an email to investors at scitechbio.com. Joining me today from Scitech are Wenbin Zhang, CEO, and Patrick Jean-Meneau, Chief Financial Officer. Before we begin, I'd like to remind you that management will make statements during this call that are forward-looking statements within the meaning of the federal securities laws, including statements regarding Scitech's business plans, strategies, opportunities, and financial projections. These statements are based on the company's current expectations and inherently involve significant risks and uncertainties that could cause actual results or events to materially differ from those anticipated. Additional information regarding these risks and uncertainties appears in the section entitled Forward Looking Statements in the press release CITAC issued today and in CITAC's filings with the SEC. This call will also include a discussion of certain financial measures that are not calculated in accordance with generally accepted accounting principles. Reconciliation of the most directly comparable GAAP financial measure may be found in today's earnings release submitted to the SEC. Except as required by law, Scitech disclaims any duty to update any forward-looking statements, whether because of new information, future events, or changes in its expectations. This conference call contains time-sensitive information and is accurate only as of the live broadcast August 8th, 2023. Before I finish, I want to mention that we are planning an investor day in late November in New York, where we will look forward to sharing more about our business. We will update you with details as we get closer to the event. With that, I would like to turn the call over to Wenbin.

Thanks, Paul. and welcome everyone joining our second quarter earnings conference call. On the call today, I will discuss our results for the second quarter as well as our progress across our four key strategic pillars to drive growth. Then I will turn the call over to Patrick for a more detailed look at our financials and an update on our outlook for 2023 before we open it up for Q&A. Starting with our second quarter results, we achieved $49.7 million of total revenue, representing growth of 24% year-over-year. This included approximately $8.2 million of revenue from the product lines acquired from Luminex. Excluding acquisition-related revenue, our organic revenue was $41.5 million. Our results were driven by improvement across the US, particularly with our farmer and the biotech customers, where orders that were delayed at the end of the first quarter began to come in. Yet, we continued to see impact from our biopharma customers in Europe during the second quarter. Overall, while the macro environment continued to be somewhat challenging, These results are a testimony to our dedicated efforts to operate our business efficiently and effectively, all while further growing our sales across the globe, diversifying our revenue base, and executing on our product strategy. Patrick will provide more detail on our financial results momentarily. Cite continues to stand apart in the field. as we provide our customers with an end-to-end solution consisting of instruments, reagents, software, and application services. We are focused on driving growth and diversifying revenue streams. In addition, we expect our recent acquisition of referral cytometry and imaging business from Luminous will open new markets and applications. As we complete the integration of the acquired business over the course of this year, we are taking proactive measures to optimize our business operations and advance our overall strategy. I will share more details on our progress with the integration shortly.