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Mar 31, 2024
CryoPort Q1 2024 Earnings Report
Cryoport experienced a difficult global environment in the first quarter, with disappointing results particularly for Life Sciences Products, but maintained full-year revenue guidance.
Key Takeaways
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.
Q1 revenue was impacted by a difficult global environment and decreased demand for Life Sciences Products.
Life Sciences Services revenue growth was softer than anticipated, increasing 3% year-over-year.
Cryoport is implementing initiatives to drive toward positive adjusted EBITDA and cash flow in the near term.
Full-year revenue guidance is reiterated at $242 to $252 million, with expectations for progressive improvement throughout the year.
Revenue by Segment
Forward Guidance
Cryoport is reiterating its full year 2024 revenue guidance of $242 - $252 million and continues to expect revenue to improve progressively throughout the year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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