Shares of Cytek Biosciences Inc. (NASDAQ: CTKB) surged by 6.35% on Monday, driven by the company's impressive third-quarter 2024 financial results and upbeat outlook. The cell analysis solutions provider reported better-than-expected revenue and earnings, fueling investor optimism and sending the stock higher.

For the third quarter, Cytek Biosciences reported revenue of $51.5 million, a 7% increase compared to the same period last year. The company's revenue also grew by 10% sequentially from the second quarter. This robust growth was driven by strong demand across various regions, particularly in EMEA and APAC, as well as solid service revenue globally.

More impressively, Cytek Biosciences reported non-GAAP earnings per share (EPS) of $0.01, surpassing analysts' consensus estimate of a loss of $0.02 per share. The company's ability to deliver profitability amid a challenging macroeconomic environment underscored its operational efficiency and strong execution.

Looking ahead, Cytek Biosciences reaffirmed its full-year 2024 revenue guidance range of $203 million to $210 million, representing growth of 5% to 9% over the previous year. Additionally, the company expects to report positive cash flow from operations in 2024, a significant milestone for a growth-oriented company.

Investors welcomed the company's strong performance and optimistic outlook, propelling the stock higher. Cytek Biosciences' innovative cell analysis solutions and expanding global footprint position it well to capitalize on the growing demand for advanced cell analysis tools in various industries, including biomedical research, clinical diagnostics, and pharmaceutical development.