CryoPort Q4 2024 Earnings Report
Key Takeaways
CryoPort reported Q4 2024 revenue of $59.53 million, a 4% increase year-over-year. Life Sciences Services revenue grew by 7% to $39.56 million, while BioStorage/BioServices revenue increased by 10% to $4.0 million. The company also reported a higher gross margin of 45.8%, up from 40.6% in Q4 2023. However, net loss was $18.7 million, an improvement from a $62.4 million loss in the prior year period.
Q4 2024 revenue increased by 4% year-over-year to $59.53 million.
Life Sciences Services revenue grew by 7% to $39.56 million.
Gross margin improved to 45.8% from 40.6% in Q4 2023.
Net loss reduced to $18.7 million from $62.4 million in Q4 2023.
CryoPort
CryoPort
Forward Guidance
CryoPort expects revenue for FY 2025 to be in the range of $240-$250 million, driven by growth in Cell & Gene Therapy support and operational improvements.
Positive Outlook
- Projected revenue growth to $240-$250 million in FY 2025.
- Continued expansion in the Cell & Gene Therapy market.
- Improving cost efficiencies and profitability initiatives.
- Expansion of BioStorage/BioServices offerings.
- Potential for strategic partnerships and collaborations.
Challenges Ahead
- Macroeconomic and geopolitical uncertainties.
- Supply chain constraints may impact operations.
- Foreign currency fluctuations could affect revenue.
- Inflationary pressures may increase costs.
- Dependence on regulatory approvals for therapy support.