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Sep 30, 2024
CryoPort Q3 2024 Earnings Report
Cryoport's Q3 2024 financial results were announced, highlighting growth in the Life Sciences Services business and improvements in gross margin and adjusted EBITDA.
Key Takeaways
Cryoport reported growth in its Life Sciences Services business, with BioStorage/BioServices revenue increasing by 12%. The company is maintaining its full-year revenue forecast of $225 million to $235 million and is on track to complete cost reduction and capital realignment strategies by year's end. A return to positive adjusted EBITDA is expected during 2025.
Life Sciences Services business grew by 9% in Q3 2024.
BioStorage/BioServices revenue increased by 12% compared to Q3 2023.
Gross margin improved to 46% for the services business.
The company reaffirms full year 2024 revenue guidance in the range of $225 million - $235 million.
CryoPort
CryoPort
Forward Guidance
The Company reaffirms full year 2024 revenue guidance in the range of $225 million - $235 million.