Loading...
•
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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...