Debt

12 Months Ended

Dec. 31, 2022

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 considered the deposit as restricted cash and are presented on the consolidated Balance Sheets. Total loan amount is $2.9 million and the loan term is five years. The current portion of the loan, $580,000, is included in other current liabilities. The fixed interest rate on the loan was 4.5% as of December 31, 2022.