Cryoport, Inc. (NASDAQ:CYRX) Strategic Agreement and Transaction with DHL Group Call March 31, 2025 8:30 AM ET Company Participants Todd Fromer - Investor Relations, KCSA Strategic Communications Jerrell Shelton - Chief Executive Officer Tom Heinzen - Vice President, Corporate Development & Investor Relations Robert Stefanovich - Chief Financial Officer Mark Sawicki - Chief Scientific Officer Conference Call Participants Todd Fromer Thank you, operator. Before we begin today, I would like to remind everyone ...

Cryoport's Strategic Agreement and Transaction with DHL Group March 2025 © 2025 CRYOPORT, INC. 1 Forward Looking Statements Statements in this presentation which are not purely historical, including statements regarding Cryoport's intentions, hopes, beliefs, expectations, representations, projections, plans, or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, ...

BONN, Germany and NASHVILLE, Tenn., March 31, 2025 /PRNewswire/ -- DHL Group ("DHL"), the world's leading logistics provider, and Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport"), a global provider of supply chain solutions for the life sciences sector, are pleased to announce that DHL has acquired 100% of CRYOPDP, a leading specialty courier focused on clinical trials, biopharma, and cell and gene therapies. In this context, the companies also announced a strategic partnership to strengthen their supply chain se ...

Please allow 10 minutes prior to the call to visit this site to download and install any necessary audio software. The questions and answers call will be recorded and available approximately three hours after completion of the live event in the Investor Relations section of the Company's website at www.cryoportinc.com for a limited time. To access the replay of the questions and answers click here. A dial-in replay of the call will also be available to those interested, until April 7, 2025. To access the re ...

NASHVILLE, Tenn., March 12, 2025 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport" or "the Company"), a global leader in supply chain solutions for the life sciences, today announced the launch of MVE Biological Solutions' ("MVE") High-Efficiency 800 C, the latest addition to its next-generation High-Efficiency ("HE") Series of cryogenic freezers. The HE 800 C combines ergonomic features and consistent performance in a compact size to meet the evolving needs of fertility clinics, biorepositories and ...

Clinical Trials and Therapies - As of December 31, 2024, the company supported 701 clinical trials and 19 commercial cell and gene therapies[20]. - The company focuses on the Cell and Gene Therapy market, utilizing specialized temperature-controlled supply chain solutions to meet customer needs[47]. Product and Service Innovations - The newly introduced Cryopreservation services (IntegriCell®) enhance the quality of cellular therapy starting materials[20]. - The Cryoportal® Logistics Management Platform provides real-time monitoring and tracking, ensuring quality and regulatory compliance[20]. - The Cryoportal® 2.0 logistics management platform was launched in Q2 2023, compliant with ISO 21973, enhancing supply chain management capabilities[51]. - The Cryoport ELITE™ -80°C Gene Therapy Shipper was launched in Q2 2023, designed for clinical and commercial gene therapy distribution[23]. - The MVE Fusion® Cryogenic System operates without ongoing liquid nitrogen supply, ideal for remote locations[38]. - The Vario® Cryogenic System supports temperatures from -20°C to -150°C, offering significant energy savings[38]. Acquisitions and Business Development - The company acquired Tec4Med in Q4 2023, enhancing cold-chain packaging temperature and location monitoring capabilities[26]. - The company aims to leverage Tec4Med technology across its products and services in the coming years[27]. - CRYOGENE, acquired in 2019, focuses on pre-clinical temperature-controlled biological materials management and operates FDA registered facilities[30]. - The company launched its first two Global Supply Chain Centers in June 2022, integrating logistics and BioServices[30]. Financial Performance - Cryoport's total revenue decreased from $237.3 million in 2022 to $233.3 million in 2023, a decline of about 1.7%[85]. - The company incurred a net loss of $114.8 million and $99.6 million for the years ended December 31, 2024 and 2023, respectively, with an accumulated deficit of $757.2 million as of December 31, 2024[176]. - The company has approximately $301.6 million of indebtedness and other liabilities as of December 31, 2024, which may limit cash flow available for operations[177]. - Adjusted EBITDA is the profit measure used by the Company for evaluating business performance, defined as earnings before interest, taxes, depreciation, amortization, and certain non-operational items[40]. Employee and Operational Growth - The number of employees increased from 1,024 in 2022 to 1,170 in 2023, reflecting a growth of approximately 14.3%[85]. - As of December 31, 2024, Cryoport had 1,186 employees, an increase of over 16 employees compared to December 31, 2023, due to global organizational expansion[122]. - The company anticipates hiring additional personnel to support its global growth strategy in response to market expansion[123]. Environmental and Regulatory Compliance - The Company’s Quality Management Systems are certified to ISO 9001:2015 and ISO 13485 standards, ensuring compliance with industry regulations[62]. - The company is subject to various global regulations regarding the manufacturing and shipping of biologic products, ensuring adherence to safety and environmental standards[65]. - Cryoport is actively working on compliance with RoHS 3 and REACH regulations, demonstrating commitment to environmental standards[103]. - The company has implemented policies to ensure compliance with complex foreign and U.S. laws, but violations could result in significant penalties[173]. Emissions and Sustainability - Cryoport's total Scope 1 and 2 emissions increased from 6,231 MT CO2-e in 2022 to 6,672 MT CO2-e in 2023, representing a rise of approximately 7.1%[82]. - The average emissions per employee decreased from 6.08 MT CO2-e in 2022 to 5.70 MT CO2-e in 2023, a reduction of approximately 6.3%[85]. - The reduction in energy consumption from Cryoport's freezer lines equates to 152,504,879 pounds of GHG emissions avoided, equivalent to the emissions from 16,135 passenger vehicles driven for one year[102]. Risks and Challenges - The company faces significant competition and must continuously innovate to maintain market share, as failure to introduce new products timely could lead to revenue decline[155]. - The company is exposed to risks from pandemics and public health crises, which could materially affect its financial performance and operations[142]. - The company relies on third-party shipment services for transporting biological materials, which could be disrupted by natural disasters or other factors[148]. - The company faces risks related to foreign currency exchange rates that could adversely affect its operations and cash flows[130]. Stock and Shareholder Information - The Series C Preferred Stockholders are entitled to dividends at a rate of 4.0% per annum, paid-in-kind, accruing daily and paid quarterly in arrears[179]. - The company completed the sale of 250,000 shares of Series C Convertible Preferred Stock at a price of $1,000 per share to funds affiliated with The Blackstone Group Inc.[179]. - The company has never paid dividends on its common stock and does not anticipate doing so in the foreseeable future, limiting returns to stock price appreciation[193][216]. - The company's stock price has been highly volatile, influenced by various factors including technological innovations and market perceptions[191][192].

Full Year 2024 Conference Call March 4, 2025 Forward Looking Statements Statements in this press release which are not purely historical, including statements regarding Cryoport's intentions, hopes, beliefs, expectations, representations, projections, plans, or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, those related to Cryoport's industry, business, lo ...

Financial Data and Key Metrics Changes - Total annual revenues for 2024 reached $228.4 million, aligning with expectations, representing a significant increase from the previous year [10] - Gross margin improved to 45.8% in Q4 2024 from 40.6% in the same period last year, indicating effective cost management strategies [14][88] - The company aims to achieve positive adjusted EBITDA during 2025, with a focus on improving gross margins and driving profitable revenue growth [14][65] Business Line Data and Key Metrics Changes - Life Sciences Services business accounted for 67% of total revenue in 2024, up from approximately 62% in the previous year, with double-digit growth in BioStorage and BioServices [10] - Revenue from commercial cell and gene therapies increased by 37% in Q4 and 20% for the full year, reflecting strong market demand [11] - The Life Sciences Products segment is showing signs of stability, with positive free cash flow despite market downturns [12][13] Market Data and Key Metrics Changes - Cryoport supported a record total of 701 clinical trials by year-end, with a net increase of 26 trials over the previous year, indicating strong market presence [11] - The company anticipates 23 VLA or MMA filings in 2025, a significant increase from 11 in the previous year, suggesting robust growth in the cell and gene therapy sector [18] Company Strategy and Development Direction - The company is focused on expanding its market share in the cell and gene therapy industry and has opened new facilities for its IntegriCell cryopreservation solution [15][19] - Strategic collaborations are being sought to complement growth plans and enhance revenue streams [20] - The introduction of the Cryoport Express Cryogenic CXHV3 shipping system aims to improve patient accessibility to cell therapies [17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in 2024 due to macroeconomic conditions but expressed confidence in the company's ability to adapt and grow [9] - The outlook for 2025 is positive, with expectations for continued growth in clinical trials and commercial revenue [19][42] - Management remains optimistic about achieving positive adjusted EBITDA in 2025, driven by ongoing cost management and revenue growth initiatives [14][65] Other Important Information - The company has implemented cost management initiatives across its operations to align with current industry dynamics, resulting in improved gross margins [13][88] - The IntegriCell initiative is expected to generate significant revenue in the future, although initial contributions will be modest due to regulatory processes [99] Q&A Session Summary Question: What drove the 37% increase in commercial revenue in Q4? - The increase was broad-based, driven by advancements in earlier line approvals and contributions from multiple commercial clients [24] Question: Is there confidence in the stabilization of the MVE side of the business? - There are signs of stability in order patterns, and management expects this trend to continue throughout 2025 [27] Question: Can you elaborate on the 2025 guidance regarding service versus product growth? - Services are expected to grow faster than life sciences products, with a conservative view on product revenue increases [33] Question: What impact do tariffs have on costs? - Tariffs on aluminum and stainless steel are considered, but management does not expect a significant impact on margins [36][38] Question: What are the expectations for clinical trial growth in 2025? - Management anticipates continued strong performance in new trial acquisitions, expecting 2025 to be stronger than 2024 [42] Question: How is the company addressing revenue contributions from new therapies? - While specific contributions cannot be broken out, multiple new therapies are expected to contribute meaningfully to revenue [55] Question: What is the outlook for gross margin expansion? - Gross margins improved significantly due to cost measures, and management expects further improvements as new initiatives come online [88][92] Question: How is the non-cell and gene therapy market expected to evolve? - Modest growth is anticipated in the non-cell and gene therapy market, with continued growth in reproductive medicine and animal health sectors [120][124]

Core Insights - CryoPort, Inc. reported a quarterly loss of $0.42 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.33, but an improvement from a loss of $0.51 per share a year ago [1] - The company achieved revenues of $59.53 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 0.46% and showing growth from $57.26 million year-over-year [2] - CryoPort shares have declined approximately 38.4% since the beginning of the year, contrasting with the S&P 500's decline of only 0.5% [3] Earnings Outlook - The earnings outlook for CryoPort is currently favorable, with a Zacks Rank of 2 (Buy), indicating expectations for the stock to outperform the market in the near future [6] - The current consensus EPS estimate for the upcoming quarter is -$0.29 on revenues of $58.53 million, and for the current fiscal year, it is -$1.06 on revenues of $248.09 million [7] Industry Context - The Transportation - Services industry, to which CryoPort belongs, is currently ranked in the bottom 24% of over 250 Zacks industries, suggesting potential challenges for stocks in this sector [8]

Revenue Performance - Total revenue for FY 2024 was $228.4 million, a decrease of 2.1% compared to FY 2023 revenue of $233.3 million[7] - Revenue from commercial Cell & Gene therapies reached $26 million for FY 2024, reflecting a 20% year-over-year increase[3] - Total revenue for Q4 2024 was $59.532 million, a 3.3% increase from $57.260 million in Q4 2023[31] - Life Sciences Services revenue for Q4 2024 was $39.6 million, a 6.8% increase year-over-year[15] - Life Sciences Services revenue reached $39.556 million, up from $37.025 million, representing a 6.9% growth year-over-year[31] - Life Sciences Products revenue decreased to $19.976 million from $20.235 million, a decline of 1.3% compared to the previous year[31] - For the three months ended December 31, 2024, total revenue was reported at $59.532 million, with services contributing $39.556 million and products $19.976 million[40] - For the year ended December 31, 2024, total revenue reached $228.385 million, comprising $153.660 million from services and $74.725 million from products[41] - The foreign exchange impact on total revenue for the three months ended December 31, 2024, was a decrease of $160, representing a 0.3% impact[40] - For the year ended December 31, 2024, the foreign exchange impact on total revenue was a decrease of $300, also reflecting a 0.1% impact[41] - The total revenue at constant currency for the three months ended December 31, 2024, was $59.692 million, slightly higher than the reported figure due to currency fluctuations[40] Financial Metrics - Gross margin improved to 45.8% in Q4 2024, up from 40.6% in Q4 2023[5] - Gross margin improved to $27.281 million in Q4 2024, compared to $23.261 million in Q4 2023[31] - Adjusted EBITDA for Q4 2024 was a negative $1.3 million, an improvement from a negative $6.6 million in Q4 2023[16] - Adjusted EBITDA for the three months ended December 31, 2024, was a loss of $1.262 million, compared to a loss of $6.648 million in the same period of the previous year[39] - The company emphasized the importance of revenue growth as a key indicator of performance, particularly in constant currency terms[35] - Management noted that adjusted EBITDA is a significant performance measure used in connection with incentive compensation programs[38] Loss and Expenses - Net loss for FY 2024 was $114.8 million, compared to a net loss of $99.6 million for FY 2023[21] - Net loss for Q4 2024 was $18.677 million, a reduction from a net loss of $62.389 million in Q4 2023[31] - Net loss per share attributable to common stockholders was $0.42, compared to $1.31 in the same quarter last year[31] - Total operating costs and expenses for Q4 2024 were $41.212 million, significantly lower than $93.132 million in Q4 2023[31] Cash and Investments - Cryoport held $261.7 million in cash, cash equivalents, and short-term investments as of December 31, 2024[17] - Current assets totaled $341,571,535, a decrease from $346,334,646[32] - Cash and cash equivalents were $45,289,000, compared to $46,346,000 in the previous period[32] - The company reported a net increase in short-term investments to $216,460,410 from $40,909,000[32] Liabilities and Equity - Total liabilities amounted to $301,594,468, reflecting a decrease from $307,721,000[32] - Total current liabilities were $64,563,445, down from $72,121,000[32] - Accounts payable and other accrued expenses were $27,208,000, compared to $26,995,000 previously[32] - Deferred revenue stood at $1,106,000, a decrease from $1,308,000[32] - Total stockholders' equity was $401,898,489, compared to $402,023,000 in the previous period[32] - Goodwill was valued at $51,660,108, reflecting a slight increase from $40,303,000[32] - Total assets reached $703,492,000, down from $957,744,000[32] Future Outlook - The company anticipates 2025 revenue guidance in the range of $240 - $250 million[19] - Cryoport's outlook for full year 2025 revenue is optimistic, with expectations for continued growth[29] - The company anticipates revenue growth trends in its operating markets and plans to launch new products and services in the future[29] - The company is facing risks including supply chain constraints and inflationary pressures that could impact future performance[29] Clinical Trials - Cryoport supported a total of 701 global clinical trials as of December 31, 2024, an increase of 26 trials from the previous year[10] - The company filed a total of eleven Biologic License Applications (BLA)/Marketing Authorization Applications (MAA) in 2024, with three filed in Q4[12]