CryoPort Earnings Reports

CryoPort reported Q4 2024 revenue of $59.53 million, a 4% increase year-over-year. Life Sciences Services revenue grew by 7% to $39.56 million, while BioStorage/BioServices revenue increased by 10% to $4.0 million. The company also reported a higher gross margin of 45.8%, up from 40.6% in Q4 2023. However, net loss was $18.7 million, an improvement from a $62.4 million loss in the prior year period.

Cryoport reported growth in its Life Sciences Services business, with BioStorage/BioServices revenue increasing by 12%. The company is maintaining its full-year revenue forecast of $225 million to $235 million and is on track to complete cost reduction and capital realignment strategies by year's end. A return to positive adjusted EBITDA is expected during 2025.

Cryoport reported improved sequential revenue growth across all businesses in Q2 2024, driven by a 51% year-over-year increase in revenue from commercial Cell & Gene Therapies. The company is implementing cost reduction initiatives expected to yield $22 million in annualized savings by 2025, aiming for profitable growth and positive adjusted EBITDA. Full-year revenue guidance was revised to $225 million - $235 million due to continued softness in Life Sciences Products demand.

Cryoport reported disappointing Q1 2024 results, particularly in Life Sciences Products, due to a challenging global environment. However, the company maintains its full-year revenue guidance of $242 to $252 million, anticipating progressive improvement throughout the year. Despite softer than anticipated growth in Life Sciences Services revenue, the company sees positive indicators in the Cell & Gene Therapy market and is implementing initiatives to drive toward positive adjusted EBITDA and cash flow in the near term.

Cryoport reported full year revenue of $233.3 million. The services business increased to 62% of total revenue, with year-over-year growth in BioStorage/BioServices and support of commercial Cell & Gene therapies of 45% and 33%, respectively. The company supported a record 675 clinical trials worldwide.

Cryoport's Q3 2023 revenue was $56.2 million, a 7% decrease compared to Q3 2022. The company experienced growth in commercial cell and gene therapy revenue and bioservices revenue, but a decrease in revenue from cryogenic systems. They are maintaining their full year 2023 revenue guidance range of $233 - $243 million.

Cryoport reported a decrease in revenue for Q2 2023, primarily due to a significant decline in China-derived revenue. Despite this, the company remains confident in its long-term growth drivers, supported by the anticipated growth of the cell and gene therapy industry and recent client advancements. Strategic investments and new service offerings are expected to enhance future growth prospects.

Cryoport reported record revenue of $62.8 million for Q1 2023, a 20% increase year-over-year (23% in constant currency). Growth was driven by strong demand across Biopharma/Pharma, Reproductive Medicine, and Animal Health markets. The company reaffirmed its full-year revenue guidance of $270 - $290 million.

Cryoport reported a 7% increase in revenue for Q4 2022, reaching $60.4 million. The company's gross margin improved to 43.5%. Cryoport supported a total of 654 global clinical trials, with 79 in phase 3.

Cryoport's Q3 2022 revenue increased by 7% year-over-year to $60.5 million, but was impacted by macroeconomic headwinds. The company is revising its full-year 2022 revenue guidance to $232-$238 million. Despite these challenges, Cryoport saw growth in key areas and is optimistic about future growth with new products and services launching in 2023.

Cryoport reported a strong second quarter in 2022, featuring a 14% overall revenue increase (18% on a constant currency basis). The company saw double-digit growth across all end markets, including Biopharma/Pharma, Reproductive Medicine, and Animal Health. Cryoport also progressed with its strategic expansion, opening new Global Supply Chain Centers and acquiring Cell&Co BioServices.

Cryoport reported its Q1 2022 results, noting that revenue was adversely impacted by approximately $9.4 million due to a fire at their New Prague, MN manufacturing plant. Despite this, the company supported a record 609 clinical trials in regenerative medicine and closed the quarter with approximately $600 million in cash and cash equivalents.

Cryoport reported a 17% increase in revenue for Q4 2021, reaching $56.4 million. This growth was primarily driven by a 34% increase in organic revenue from Cryoport Systems and CRYOGENE. The company supports 602 clinical trials and 8 commercial therapies.

Cryoport reported a record third-quarter revenue of $56.7 million, driven by 38% organic growth year-over-year from Cryoport Systems and CRYOGENE, and strong revenue performance by MVE Biological Solutions and CRYOPDP. The company supports a record 582 clinical trials and eight commercial therapies in regenerative medicine.

Cryoport reported a strong first quarter with record revenue of $53.3 million, driven by growth in all operating units and contributions from recent acquisitions. The Biopharma/Pharma market represented approximately 80% of total revenue. The company supported a record 543 regenerative medicine clinical trials.

Cryoport's Q4 2020 was a transformational quarter with strong performance and continued momentum, especially in Cell and Gene Therapy. The acquisitions of MVE Biological Solutions and CRYOPDP expanded the company's global platform and capabilities. The company reported 36% organic growth in the fourth quarter.

Cryoport reported solid Q3 2020 results, driven by continued strength in Biopharma and Reproductive Medicine. The company completed milestone acquisitions of MVE Biological Solutions and CRYOPDP, expanding its global presence and capabilities. Cryoport is optimistic for continued growth in 2020 and strong momentum entering 2021, supported by an increasing number of regenerative medicine clinical trials and partnerships.

Cryoport reported Q2 2020 revenue of $9.4 million, an 11% increase year-over-year, driven by the biopharma segment. The company added 26 net clinical trials, bringing the total to 491. They also renewed agreements with Gilead’s Kite and are finalizing an agreement with Novartis.

Cryoport announced a 47% increase in revenue for the first quarter of 2020, reaching $9.8 million. This growth was primarily driven by increased revenue from commercial therapies, particularly Gilead's YESCARTA® and Novartis' KYMRIAH®. The company also experienced strong clinical trial growth, adding 29 new trials, and is actively monitoring the impact of COVID-19 on its operations.

Cryoport reported a 73% increase in revenue for fiscal year 2019, driven by commercial agreements supporting Gilead’s YESCARTA® and Novartis’ KYMRIAH®. The company is expanding its infrastructure and expects continued growth in the regenerative medicine market.