10 Promising SmallCap Stocks Under $1 Billion Market Cap

7. Cytek Biosciences, Inc. (NASDAQ:CTKB)

Cytek Biosciences, trading at $3.24 as of 16th July, offers a rare combination of market-leading flow cytometry technology, strong fundamentals, and deep downside protection. Its patented Full Spectrum Profiling (FSP) platform delivers superior usability, flexibility, and affordability, displacing legacy systems from BD and Sony. Despite weak medical research funding, Cytek remains profitable, generates free cash flow, and holds $265M in net cash—around 70% of its market cap—placing its effective enterprise value under $50M.

Recurring revenue from reagents, services, and software now makes up 30% of sales and is growing steadily. With high gross margins (~58%), strategic product launches in clinical and imaging applications, and increasing share in a competitive market, Cytek is positioned for a rebound as sentiment recovers. Management, with 10%+ ownership, is repurchasing stock and exploring M&A, further aligning with shareholders.

Trading at less than 0.25x EV/revenue, Cytek offers asymmetric upside as a profitable, IP-rich life sciences innovator ready for its next growth cycle.