Cytek Biosciences, Inc.

Hello, and thank you for standing by. My name is Lacey, and I will be your conference operator today. At this time, I would like to welcome everyone to the SciTech Biosciences second quarter 2026 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star, followed by the number one on your telephone keypad. To withdraw your question, press star one again. Thank you. I would now like to turn the call over to Mark Meehan. Please go ahead.

Thank you, operator. Joining me today from SciTech are Wenbin Jiang, CEO, and Bill McCombe, CFO. Earlier today, SciTech Biosciences released financial results for the second quarter in the June 30th, 2026. 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. A copy of the news release is also available on the investor relations section of Scitech's website at investors.scitechbio.com. Please note that we will be referencing a slide presentation during the call today that has been posted to the investor section of our corporate website. As a reminder, on slide two, we 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 in these statements. Additional information regarding these risks and uncertainties appears in our slide presentation, in the section entitled Forward-Looking Statements in the Press Release SciTech Issue Today, and in SciTech's filings of the SEC. This call will also include a discussion of certain financial measures that are not calculated in accordance with generally accepted accounting principles. Additional information regarding our use of non-GAAP financial measures, including reconciliations to the most directly comparable GAAP financial measures, may be found on our slide presentation and in today's press release. While the company believes these non-GAAP financial measures provide useful information for investors, The presentation of this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with GAAP. Except as required by law, CITEC 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 5, 2026. Finally, I would like to remind you of the organizational update we mentioned during our last call. During the third quarter of 2026, SciTech will begin operating as three distinct customer-aligned business units, Solutions and Clinical, Research Technology, and Service. For further details about these business units, please see the slide included in the appendix of our presentation. With that, I'll turn the call over to Wenbin.

Thanks, Bob. Welcome everyone and thank you for your interest in Flytech. On today's call, I will start with a discussion on our performance in the second quarter and highlight a couple of exciting new product launches before turning the call over to Bill for a detailed look at our financials and our updated two-year outlook. Turning to slide three. We built upon our good start through the year with continued positive momentum through the second quarter, delivering another period of solid revenue growth. Second quarter 2026 revenue was $48.1 million, an increase of 6% year over year. Our second quarter performance was driven by strong double-digit revenue growth in the U.S. and in China, Missing growth from our FFT instruments and consistent double-digit growth in our service business. Coming to slide 4. Geographically, in the United States, second quarter revenue was $28.2 million, an increase of 18% year-over-year. This maintains the strong trend from Q1 and reflects impressive growth in instrument revenue in The academic and government sector and in our service business. In a year, second-world revenue was $11.3 million, down approximately 8% year-over-year, reflecting a continuation of the budgetary pressures arising from regional geopolitical dynamics. Total APEC revenue, including China, was $7.9 million, flat year-over-year. China delivered a strong double-digit goal against a modest year-on-year comp, which was offset by stubbornness in other parts of the region. Turning to slide 5, we continued to expand our global footprint in the second quarter, adding 142 units and bringing Saigat's total installed base to 3,933 units. We continued to see Good Instrument Uniqlo in the second quarter, given by our high-end FFT instrument portfolio, which grew 11% year-over-year, and was led by Aurora Evo Analyzer and Aurora TS sales order. Turning to slides 6 and 7, I want to additionally highlight two exciting new startup launches that further extend our technology leadership and set The alignment to resolve 60 unique colors in a single sample run was enabled by Borealis' unique technology, where 7 lasers operate simultaneously in concert with purpose-built and proprietary EPUB and IRDI regions. The capability to analyze 60 colors in a single run significantly expands the range of cellular biomarkers that scientists can evaluate while retaining the direct hierarchy comparison benefits of a single-tube sample. On top of the technological benefits, that improve analytical capability. The Borealis also delivers increased efficiency for our customers, including the ability to analyze nanoparticles, which expands the diversity of sample types, high flow rates that increases the speed of the analysis and throughput of the system, and enhanced automation that eliminates the need for manual sample handling. The Borealis system has also been designed to allow for the integration of onboard high-parameter cellular imaging capabilities. By incorporating imaging alongside advanced 16-color 7-laser special detection, Borealis will provide a more complete cellular view from a single sample, representing another meaningful step forward in what our customers can learn from each experiment. Feedback from our early access customers has been very strong, and we look forward to sharing more on Borealis as we progress toward greater commercial availability. Second, we introduced the new Aurora Evil instrument configurations with expanded automation capabilities. These enhancements enable the integration of full special flow cytometry into highly automated laboratory environments. by adding automated and remote operation of key instrument functions, as well as an API for interfacing with automation trace handling systems, eliminating the need for a human operator. These capabilities are particularly relevant for biopharma organizations and CROs where efficiency, reproducibility, and system integration are critical to large-scale programs. These newly launched products underscore our continued commitment to extending our technology leadership, while enabling cutting-edge research and driving lab productivity for our customers. Turning to applications and services, our recurring revenue base continues to strengthen in the second quarter. Combined reagents and service revenue was $18.5 million in total from day 26, up 8% year-over-year. Representing 35% of Cytex's last 12-month revenue, up from 32% for the 12 months to June 30, from day 25. Service revenue was $15.6 million in the second quarter, growing 10% year-over-year. given by continued growth in our installed base and the high utilization of our instruments by customers worldwide. We expect recurring revenue to represent an increasing percentage of our total revenue over time, supported by high utilization and the continued expansion of our installed base. Moving to bioinformatics. The SciTech Cloud continues to play a critical role for researchers working to create and optimize experimental workflows and is also driving adoption and utilization of our self-analysis solutions. As of June 30, 2026, SciTech Cloud has surpassed 28,000 users, up 15% since the start of the year. Growth in SiteXR users reinforces the strength of our integrated ecosystem and drives deeper customer engagement. We believe this increasing level of engagement is an important factor in driving growth in our related and service businesses. And with that, I will now turn the call over to Bill for additional details on our Q2 financials and our updated guidance.