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Jun 30, 2022
CryoPort Q2 2022 Earnings Report
Cryoport delivered a strong performance for the second quarter of 2022, marked by top-line growth and expansion of global supply chain centers.
Key Takeaways
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's overall top-line growth was 14% (18% on a constant currency basis).
Biopharma/Pharma revenue reached $51.7 million, driven by support for global clinical trials and commercially launched therapies.
The company supported a record 626 global clinical trials in regenerative medicine.
Full year 2022 revenue guidance reiterated to be between $260 million and $265 million.
CryoPort
CryoPort
CryoPort Revenue by Segment
Revenue by Segment
Life Sciences Services Revenue
CapyFin.com Forward Guidance
The Company expects that its revenue guidance for the full year 2022 of $260 - $265 million will be driven primarily by the record demand for dewars, cryogenic freezer, and shipper systems and solutions; growth from our support of global clinical trials and commercially launched therapies from our cell and gene therapy clients; growth in temperature-controlled logistics for the life sciences industry; and expanded client utilization of our new BioServices offering.
Positive Outlook
- Record demand for dewars, cryogenic freezer, and shipper systems and solutions
- Growth from our support of global clinical trials
- Growth from support of commercially launched therapies from our cell and gene therapy clients
- Growth in temperature-controlled logistics for the life sciences industry
- Expanded client utilization of our new BioServices offering
Challenges Ahead
- Ongoing and prolonged COVID-19 pandemic
- Supply chain constraints
- Inflationary pressures
- Effects of foreign currency fluctuations
- Other factors described in the Company’s filings with the Securities and Exchange Commission (“SEC”)