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CryoPort
🇺🇸 NASDAQ:CYRX
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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.

Total Revenue
$64.2M
Previous year: $56.2M
+14.2%
EPS
-$0.23
Previous year: -$0.16
+43.8%
Gross Profit
$28.8M
Previous year: $25.4M
+13.5%
Cash and Equivalents
$37M
Previous year: $60.4M
-38.6%
Free Cash Flow
-$11.8M
Previous year: -$1.27M
+833.4%
Total Assets
$1.05B
Previous year: $825M
+26.8%

CryoPort

CryoPort

CryoPort 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
  • Effects of foreign currency fluctuations
  • Other factors described in the Company’s filings with the Securities and Exchange Commission (“SEC”)

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View CryoPort