Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______. Commission File Number: 001-34632 CRYOPORT, INC. (Exact Name of Registrant as Specified in its Charter) Nevada 88-0313393 (Sta ...

Financial Performance - CryoPort, Inc. reported a quarterly loss of $0.29 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.20, but an improvement from a loss of $0.33 per share a year ago, indicating a -45.00% earnings surprise [1] - The company posted revenues of $45.45 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 9.20%, although this represents a decline from year-ago revenues of $57.6 million [2] - Over the last four quarters, CryoPort has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Performance and Outlook - CryoPort shares have declined approximately 8% since the beginning of the year, contrasting with the S&P 500's gain of 7.6% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is -$0.19 on revenues of $42.14 million, and for the current fiscal year, it is -$0.83 on revenues of $169.65 million [7] Industry Context - The Transportation - Services industry, to which CryoPort belongs, is currently ranked in the bottom 15% of over 250 Zacks industries, which may negatively impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry outlook can significantly affect stock performance [5][8]

Financial Data and Key Metrics Changes - Cryoport reported a 14% increase in total revenue from operations for the second quarter, with service revenue increasing by 21% year over year, accounting for 54% of total revenue from continuing operations [6][7] - Revenue from commercial cell and gene therapies grew by 33%, while BioStorage Bioservices increased by 28%, indicating strong demand for integrated temperature control supply chain solutions [7][12] - The company reaffirmed its full year 2025 revenue guidance, reflecting a commitment to sustainable long-term profitability [9][12] Business Line Data and Key Metrics Changes - Life sciences services revenue grew by 21% year over year, driven by significant increases in commercial cell and gene therapy support and BioStorage Bioservices [7][12] - Life sciences products experienced an 8% year-over-year revenue growth, primarily due to improved demand from animal health customers [8][12] - The launch of new products, such as the next-generation MVE SC42V and SC43V vapor shippers, contributed to the overall performance [8] Market Data and Key Metrics Changes - As of June 30, Cryoport supported a record 728 clinical trials, representing approximately 70% of the industry cell and gene therapy trials [11] - The company anticipates up to 20 additional application filings and one new therapy approval for the remainder of 2025 [11] - Despite some clients receiving negative opinions from regulatory bodies, analysts remain optimistic about future approvals due to recent changes within the FDA [11][12] Company Strategy and Development Direction - The strategic partnership with DHL Group, including the sale of Cryo PDP, is expected to enhance Cryoport's global biologics capabilities and expand its life sciences business [9][12] - The company aims to develop a strong global partner network to complement its core capabilities [9] - Cryoport is focused on driving long-term shareholder value while supporting the growth of the global regenerative medicine market [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges faced by some clients but emphasized the overall strength and resilience of Cryoport's performance [12] - The company is optimistic about the future growth of commercial revenue, driven by additional therapies reaching commercialization [12] - Management remains cautious about the global economic and geopolitical uncertainties, which influenced the decision to maintain revenue guidance [22] Other Important Information - The company recorded an estimated revenue impact of approximately $2 million from a gene therapy client that temporarily paused distribution [10] - Cryoport's gross margin increased, with adjusted EBITDA showing significant improvement as part of its pathway to profitability initiative [9][27] Q&A Session Summary Question: Update on non-cell and gene therapy demand and EntegraCell adoption - Management noted that MVE revenue improved by 8% and that EntegraCell is on track for revenue production initiation this quarter, with meaningful revenue expected in 2026 [16][20] Question: Phasing on 2H guidance and reasons for not increasing guidance - Management stated that they maintained guidance due to uncertainties in the global economy and geopolitical factors, despite a strong quarter [21][22] Question: Update on capital allocation philosophy and M&A appetite - Management indicated a prudent approach to capital allocation, including share repurchases, while remaining open to compelling acquisition opportunities [29][34] Question: Impact of late quarter FDA update on REMS - Management expressed positive feedback from clients regarding the FDA ruling, anticipating beneficial impacts on patient volumes [38][39] Question: Competitive dynamics in the commercial market - Management observed increased interest from clients in securing supply and scalability, with larger players seeking collaboration rather than competition [50][51] Question: Updates on tariffs and cost impacts - Management reported no significant impact from tariffs and indicated that any costs would be passed through to clients if necessary [58] Question: Growth in China and market expectations - Management does not expect market expansion in China for 2025, reflecting ongoing monitoring of customer conditions and government stimulus programs [64] Question: Customer response to Cryoport's carrier agnosticism post-DHL transaction - Overall customer feedback has been positive, with excitement about the logistics solutions and flexibility offered through the DHL partnership [66][67]

[Financial Performance Overview](index=1&type=section&id=Financial%20Performance%20Overview) Cryoport reported strong Q2 2025 results with 14% revenue growth and reaffirmed full-year guidance [Second Quarter 2025 Highlights](index=1&type=section&id=Second%20Quarter%202025%20Highlights) Cryoport reported strong Q2 2025 results, with total revenue up 14% to $45.5 million and commercial cell & gene therapy revenue up 33% Key Financial Metrics | Metric | Q2 2025 Value | Year-over-Year Change | | :--- | :--- | :--- | | Total Revenue (Continuing Ops) | $45.5 million | +14% | | Commercial Cell & Gene Therapy Revenue | $8.7 million | +33% | | Life Sciences Services Revenue | - | +21% | | BioStorage/BioServices Revenue | - | +28% | - Launched a strategic partnership with DHL Group and completed the divestiture of the CRYOPDP business[6](index=6&type=chunk)[7](index=7&type=chunk) - The company reaffirmed its full-year 2025 revenue guidance of **$165 million to $172 million**[7](index=7&type=chunk)[27](index=27&type=chunk) [CEO's Remarks](index=1&type=section&id=CEO%27s%20Remarks) CEO highlighted 21% YoY growth in Life Sciences Services, 33% in cell and gene therapy, and the strategic DHL partnership - Life Sciences Services revenue grew **21% year-over-year**, accounting for **54% of total revenue** from continuing operations[3](index=3&type=chunk) - Revenue from commercial cell and gene therapies increased by **33% YoY to $8.7 million**, driven by increasing adoption[4](index=4&type=chunk) - The strategic partnership with DHL and the divestiture of CRYOPDP provided a strong infusion of capital and strengthened global biologistics capabilities, particularly in APAC and EMEA[6](index=6&type=chunk) - The company is reaffirming its full-year 2025 revenue guidance based on strong execution and a planned pathway to profitability[5](index=5&type=chunk) [Detailed Financial Results](index=2&type=section&id=Detailed%20Financial%20Results) Q2 2025 saw 14% revenue growth, improved gross margins, and a net income boost from the CRYOPDP divestiture [Revenue Analysis](index=2&type=section&id=Revenue%20Analysis) Q2 2025 total revenue from continuing operations increased 14% YoY to $45.5 million, driven by Life Sciences Services Revenue from Continuing Operations (in thousands) | Revenue (in thousands) | Q2 2025 | Q2 2024 | % Change | H1 2025 | H1 2024 | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Life Sciences Services** | **$24,369** | **$20,152** | **21%** | **$47,234** | **$39,637** | **19%** | | BioLogistics Solutions | $19,874 | $16,628 | 20% | $38,404 | $32,585 | 18% | | BioStorage/BioServices | $4,495 | $3,524 | 28% | $8,830 | $7,052 | 25% | | **Life Sciences Products** | **$21,085** | **$19,557** | **8%** | **$39,260** | **$37,363** | **5%** | | **Total Revenue** | **$45,454** | **$39,709** | **14%** | **$86,494** | **$77,000** | **12%** | [Profitability Analysis](index=5&type=section&id=Profitability%20Analysis) Gross margin improved to 47.0% in Q2 2025, with net income boosted by the CRYOPDP sale and narrowed Adjusted EBITDA loss Gross Margin | Gross Margin | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Total Gross Margin | 47.0% | 44.5% | | Life Sciences Services | 48.9% | 46.7% | | Life Sciences Products | 44.9% | 42.2% | - Operating costs from continuing operations decreased to **$31.2 million** in Q2 2025 from $95.7 million in Q2 2024, mainly due to the prior year including a **$63.8 million impairment charge** for MVE Biological Solutions[21](index=21&type=chunk) - Q2 2025 net income was **$105.2 million**, or **$2.05 per share**, primarily due to a **$117.4 million gain** from the sale of the CRYOPDP business, compared to a net loss of $78.0 million in Q2 2024[22](index=22&type=chunk)[28](index=28&type=chunk) - Adjusted EBITDA loss narrowed to **$0.9 million** in Q2 2025 from a loss of $5.6 million in Q2 2024[24](index=24&type=chunk) [Balance Sheet and Capital Allocation](index=6&type=section&id=Balance%20Sheet%20and%20Capital%20Allocation) Cryoport held $426.0 million in cash and investments, boosted by the CRYOPDP divestiture, and continued share repurchases - The company held **$426.0 million** in cash, cash equivalents, and short-term investments as of June 30, 2025[25](index=25&type=chunk) - In Q2 2025, the company repurchased **628,217 shares** of common stock for **$4.2 million**, with approximately **$66.9 million** remaining available under the total repurchase authorization[26](index=26&type=chunk) [Business & Operational Update](index=3&type=section&id=Business%20%26%20Operational%20Update) Cryoport expanded commercial therapy support, advanced clinical trials, achieved key operational milestones, and completed the CRYOPDP divestiture [Commercial & Clinical Trial Progress](index=3&type=section&id=Commercial%20%26%20Clinical%20Trial%20Progress) Commercial therapy support grew to 18, clinical trials increased to 728, with positive regulatory momentum and FDA REMS removal - As of June 30, 2025, Cryoport supported **18 commercial therapies**[9](index=9&type=chunk) Clinical Trials by Phase | Clinical Trials by Phase | June 30, 2024 | June 30, 2025 | | :--- | :--- | :--- | | Phase 1 | 286 | 304 | | Phase 2 | 322 | 342 | | Phase 3 | 76 | 82 | | **Total** | **684** | **728** | - For the remainder of 2025, the company anticipates up to **20 additional application filings**, one new therapy approval, and three approvals for label/geographic expansions[11](index=11&type=chunk) - The FDA removed REMS requirements for certain approved CAR-T cell immunotherapies, including Cryoport-supported therapies like Carvykti and Yescarta, which is expected to increase patient access[12](index=12&type=chunk) [Key Operational Milestones](index=4&type=section&id=Key%20Operational%20Milestones) Cryoport advanced Global Supply Chain Centers, opened a new storage center, launched Cryoshuttle, and introduced new MVE Biological Solutions products - **Life Sciences Services:** - Continued development of Global Supply Chain Centers in Paris (launching late 2025) and Santa Ana (H2 2026)[14](index=14&type=chunk)[18](index=18&type=chunk) - Opened the first southeast regional automated sample storage center with Texas Children's Hospital[14](index=14&type=chunk) - Launched Cryoshuttle service in Tokyo, Japan[14](index=14&type=chunk) - **Life Sciences Products:** - MVE Biological Solutions launched next-generation SC 4/2V and SC 4/3V vapor shippers[15](index=15&type=chunk) - Recorded multiple sales of the new MVE High-Efficiency 800C cryogenic storage system[15](index=15&type=chunk) - Deployed the highest number of MVE cryogenic dewars to the animal health industry since 2013[18](index=18&type=chunk) [Strategic Developments](index=4&type=section&id=Strategic%20Developments) Completed CRYOPDP divestiture to DHL, forming a strategic partnership to enhance global business development and long-term growth - On June 11, 2025, the company completed the divestiture of its CRYOPDP business to DHL and entered into a strategic partnership[16](index=16&type=chunk) - The partnership is expected to enhance business development in EMEA and APAC and support the company's long-term growth strategy[16](index=16&type=chunk) - The results of CRYOPDP are now presented as discontinued operations in the financial statements[16](index=16&type=chunk) [Outlook](index=6&type=section&id=Outlook) Cryoport reaffirms full-year 2025 revenue guidance of $165.0 million to $172.0 million, projecting 5% to 10% growth [Full Year 2025 Guidance](index=6&type=section&id=Full%20Year%202025%20Guidance) Cryoport reaffirmed full-year 2025 revenue guidance of $165.0 million to $172.0 million for continuing operations Full Year 2025 Revenue Guidance | Guidance for Full Year 2025 | Range | YoY Growth | | :--- | :--- | :--- | | Total Revenue (Continuing Ops) | $165.0M - $172.0M | 5% - 10% | - The guidance is dependent on current business expectations and may be impacted by factors outside the company's control, such as macroeconomic conditions and supply chain constraints[27](index=27&type=chunk) [Financial Statements](index=9&type=section&id=Financial%20Statements) Q2 2025 statements reflect $105.2 million net income, boosted by the CRYOPDP sale, and a strengthened balance sheet [Condensed Consolidated Statements of Operations](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2025 income statement shows $45.5 million revenue, $21.4 million gross margin, and $105.2 million net income from CRYOPDP sale Condensed Consolidated Statements of Operations (in thousands) | (in thousands) | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Total Revenue | $45,454 | $39,709 | | Gross Margin | $21,377 | $17,662 | | Loss from Continuing Operations | $(12,198) | $(76,909) | | Income (loss) from Discontinued Ops | $117,378 | $(1,081) | | **Net Income (Loss)** | **$105,180** | **$(77,990)** | | **Net Income (Loss) per Share (Basic)** | **$2.05** | **$(1.62)** | [Condensed Consolidated Balance Sheets](index=10&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets were $773.9 million, with cash and investments at $426.0 million, boosting equity Condensed Consolidated Balance Sheets (in thousands) | (in thousands) | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Cash and short-term investments | $425,975 | $250,597 | | Total Assets | $773,927 | $703,493 | | Total Liabilities | $258,536 | $301,595 | | Total Stockholders' Equity | $515,391 | $401,898 | [Non-GAAP Financial Measures & Reconciliations](index=11&type=section&id=Non-GAAP%20Financial%20Measures%20%26%20Reconciliations) The company provides reconciliations showing improved Adjusted EBITDA from continuing operations in Q2 2025 [Reconciliation of GAAP to Non-GAAP Measures](index=12&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) Q2 2025 GAAP loss of $12.2 million adjusted to an Adjusted EBITDA loss of $0.9 million, showing operational improvement Reconciliation of GAAP to Non-GAAP Measures (in thousands) | Reconciliation (in thousands) | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **GAAP loss from continuing operations** | **$(12,198)** | **$(76,909)** | | Depreciation and amortization | $6,249 | $5,785 | | Stock-based compensation | $2,045 | $4,201 | | Impairment loss | $0 | $63,809 | | Other adjustments | $2,990 | $(1,539) | | **Adjusted EBITDA from continuing ops** | **$(914)** | **$(5,561)** |

Core Insights - Cryoport, Inc. reported strong financial results for Q2 and H1 2025, with total revenue from continuing operations increasing by 14% year-over-year to $45.5 million in Q2 and 12% to $86.5 million in H1 [10][19][20] - The company achieved double-digit growth across all revenue streams within Life Sciences Services, with a notable 21% increase year-over-year [2][4] - A strategic partnership with DHL Group was launched, enhancing Cryoport's global biologistics capabilities and providing a strong capital infusion [5][10] Financial Performance - Life Sciences Services revenue for Q2 2025 was $24.4 million, up 21% from $20.2 million in Q2 2024, and accounted for 54% of total revenue [19][10] - BioLogistics Solutions revenue increased by 20% year-over-year to $19.9 million, while BioStorage/BioServices revenue rose 28% to $4.5 million [19][10] - Life Sciences Products revenue grew 8% year-over-year to $21.1 million [19][10] Profitability Metrics - Gross margin from continuing operations improved to 47.0% in Q2 2025, compared to 44.5% in Q2 2024 [19][10] - Adjusted EBITDA was a negative $0.9 million for Q2 2025, an improvement from negative $5.6 million in Q2 2024 [21][10] Strategic Developments - The company supported 728 global clinical trials as of June 30, 2025, a net increase of 44 trials from the previous year [7][9] - Cryoport's customer, Abeona Therapeutics, received FDA approval for their cell therapy ZEVASKYNTM during the quarter [9][10] Guidance and Future Outlook - Cryoport reaffirmed its full-year 2025 revenue guidance, expecting total revenue from continuing operations to be in the range of $165 million to $172 million, representing 5% to 10% growth year-over-year [24][10] - The company anticipates additional application filings and therapy approvals in the remainder of 2025 [11][10]

CryoPort, Inc. (CYRX) is expected to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended June 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 5. ...

Core Viewpoint - CryoPort, Inc. (CYRX) has reached a significant support level and shows potential for investors from a technical perspective due to a "golden cross" formation in its moving averages [1] Technical Analysis - CYRX's 50-day simple moving average has recently broken above its 200-day moving average, indicating a bullish breakout potential [1] - A golden cross consists of three stages: a downtrend that bottoms out, a crossover of the shorter moving average above the longer one, and continued upward momentum [2] Performance Metrics - Over the past four weeks, CYRX has gained 9.5%, suggesting positive momentum [3] - The company currently holds a 3 (Hold) rating on the Zacks Rank, indicating it could be poised for a breakout [3] Earnings Outlook - There have been no earnings estimate cuts for the current quarter, with 0 revisions lower and 0 revisions higher in the past 60 days, indicating a stable earnings outlook [3] - The Zacks Consensus Estimate for CYRX has also increased, further solidifying the bullish case [3][4] Investment Consideration - The combination of positive earnings estimate revisions and the technical breakout suggests that investors should monitor CYRX for potential gains in the near future [4]

NASHVILLE, Tenn., July 22, 2025 /PRNewswire/ -- Cryoport, Inc. (Nasdaq: CYRX) ("Cryoport" or the "Company"), a global leader in temperature-controlled supply chain solutions for the life sciences, today announced that the Company will report financial results for the second quarter ended June 30, 2025 on Tuesday, August 5, 2025 after U.S. markets close. In addition to the earnings release, a document titled "Cryoport Second Quarter 2025 in Review", providing a review of Cryoport's financial and operational ...

Core Viewpoint - Cryoport, Inc. has launched new vapor shippers, the SC 4/2V and SC 4/3V, which enhance the reliability and safety of transporting sensitive biological materials at cryogenic temperatures [1][2]. Product Features - The SC 4/2V and SC 4/3V models have extended hold times, with the SC 4/2V now capable of holding for up to 19 days (previously 13 days) and the SC 4/3V for 26 days (up from 21 days), providing greater flexibility during transit [3]. - The new vapor shippers incorporate MVE's patented BEND DON'T BREAK™ technology, designed to absorb impact and reduce damage during shipping [3][4]. - Additional features include a newly integrated lid locking tab to prevent breakage and the patent-pending Vapor Shield Technology, which minimizes vacuum loss due to liquid nitrogen overfilling [4]. Company Commitment - MVE Biological Solutions emphasizes its commitment to refining products to meet customer demands, highlighting the new shippers' longer hold times, reduced refill frequency, and lower operating costs [4]. - Cryoport's CEO stated that these advancements are part of ongoing efforts to improve products and services that support temperature-controlled supply chain solutions for the life sciences [4]. Market Position - Cryoport, Inc. is recognized as a global leader in temperature-controlled supply chain solutions for the life sciences, focusing on regenerative medicine and supporting various stakeholders, including biopharmaceutical companies and researchers [6].

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Summary: CryoPort, Inc. (CYRX) - CYRX currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2] - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for potential outperformance in the market [3] - Over the past week, CYRX shares increased by 16.33%, significantly outperforming the Zacks Transportation - Services industry, which rose by 1.78% [5] - In a longer timeframe, CYRX shares have risen by 46.46% over the past three months and 22.36% over the past year, while the S&P 500 only increased by 16.66% and 14.76%, respectively [6] - The average 20-day trading volume for CYRX is 562,557 shares, indicating a bullish trend as the stock is rising with above-average volume [7] Earnings Outlook - In the past two months, three earnings estimates for CYRX have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from -$0.84 to -$0.82 [9] - For the next fiscal year, three estimates have also moved upwards, reflecting positive sentiment regarding the company's earnings potential [9] Conclusion - Given the strong momentum indicators and positive earnings outlook, CYRX is identified as a promising investment opportunity with a Momentum Score of A and a Zacks Rank of 2 (Buy) [11]