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Sep 30, 2023
CryoPort Q3 2023 Earnings Report
Reported third quarter results consistent with expectations, reflecting current global economic and geopolitical challenges.
Key Takeaways
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.
Total revenue for Q3 2023 was $56.2 million, a 7% decrease year-over-year.
Commercial cell and gene therapy revenue grew 54% year-over-year.
Bioservices revenue increased 26% year-over-year.
Cryoport supports 12 commercial therapies and a net total of 670 global clinical trials.
Forward Guidance
Cryoport’s management affirms the Company’s full year 2023 revenue guidance range of $233 - $243 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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