Core Insights - Cryoport (CYRX) is a global leader in cryogenic storage systems, operating through two main segments: Life Sciences Services and Life Sciences Products [1] Segment Overview - Life Sciences Services includes biologistics and biostorage services, catering to the needs of the life sciences industry [1] - Life Sciences Products focuses on the manufacturing and sales of cryogenic storage solutions [1]

Business Operations and Strategy - The company supported 760 clinical trials and 20 commercially approved cell and gene therapies as of December 31, 2025[18]. - The divestiture of the CRYOPDP business to DHL for $133.0 million is expected to enhance business development in the EMEA and APAC regions[24]. - The company plans to open a new Global Supply Chain Center in Santa Ana, California, in late 2026, expanding its operational footprint[39]. - The company operates a Global Supply Chain Center Network across the Americas, EMEA, and APAC regions to manage the complexities of cell and gene therapies[36]. - The company aims to enhance scalability and regulatory integrity through the integration of digitalization, data intelligence, and automation across its solutions[30]. - The company has established registrations for import in various countries to meet regulatory requirements[82]. - The company plans to enhance sales, marketing, and distribution capabilities across the Americas, EMEA, and APAC, but faces challenges in establishing effective partnerships[106]. - The company focuses on the rapidly growing cell and gene therapy market, providing integrated temperature-controlled supply chain solutions[194]. Financial Performance - Total revenue increased by $19.4 million, or 12.4%, to $176.2 million in 2025[61]. - Revenue from commercial cell and gene therapies rose by $7.4 million, or 28.6%, to $33.4 million, supporting 20 therapies as of December 31, 2025[61]. - The Americas accounted for 74.5% of geographical revenue in 2025, up from 72.4% in 2024[64]. - For the year ended December 31, 2025, the company generated a net income of $78.3 million, but historically incurred significant losses of $114.8 million and $99.6 million for the years ended December 31, 2024 and 2023, respectively[142]. - As of December 31, 2025, the company had an accumulated deficit of $688.9 million, indicating ongoing financial challenges[142]. - The company had approximately $262.4 million in indebtedness and other liabilities as of December 31, 2025, which may limit cash flow and operational flexibility[143]. Regulatory Compliance and Risks - The company is subject to various international regulations for the transport of dangerous goods, which are critical for successful shipping conditions[78]. - Cryoport's Chain of Compliance™ processes fully comply with ISO 21973:2020 guidelines, ensuring quality assurance in operations[79]. - The company must comply with FDA regulations, and failure to do so could disrupt operations and lead to significant costs[141]. - Compliance with various international regulations can increase operational costs and limit business activities[135]. - The company is subject to potential fines and penalties for non-compliance with regulations, which could adversely affect its financial results[138]. - The company faces inherent risks of product liability claims, particularly in the context of human reproductive medicine, which could lead to significant financial exposure[99]. Cybersecurity and Data Management - The company relies on critical information systems, including the Cryoportal® software platform, which is essential for operations and customer interactions[126]. - Cyberattacks and data security incidents have increased significantly, posing risks to the company's operations and financial condition[129]. - The company has a Chief Information Security Officer responsible for managing cybersecurity risks and reporting to senior executives[176]. - The company engages third-party service providers for cybersecurity risk assessments and incident response[173]. - The company has not experienced material adverse effects from cybersecurity threats, and it actively manages cybersecurity risks[174]. Market and Competitive Landscape - The global cell and gene therapy market is projected to grow at an estimated 34% CAGR through 2028, with sales expected to reach approximately $14.5 billion in 2024, up from $4.2 billion in 2019[54]. - Competitive pressures may hinder the company's ability to maintain market share, particularly if new products or services are not introduced timely[115]. Employee and Workforce Management - The company had 738 employees as of December 31, 2025, with plans to hire additional personnel to support global growth[85]. - The company’s future growth strategy includes expanding its workforce and enhancing compliance with international regulations[85]. Asset Management and Impairment - As of December 31, 2025, the company reported $22.4 million in goodwill and $138.1 million in other intangible assets on its balance sheet[125]. - For the year ended December 31, 2024, the company recorded non-cash impairment charges of $54.6 million related to goodwill and $9.2 million related to certain trademarks and tradenames[125]. - The company performed a quantitative impairment assessment in the fourth quarter of 2025 and concluded that there was no impairment of goodwill as of December 31, 2025[216]. Stock and Shareholder Information - As of February 27, 2026, directors and executive officers beneficially owned 12,203,384 shares of common stock, representing approximately 23.0% of the outstanding shares[154]. - The company has 49,856,135 shares of common stock outstanding as of February 27, 2026, with substantial shares eligible for trading in the public market[155]. - The company could issue up to an additional 6,782,638 shares upon exercise of options and vesting of restricted stock units, which may dilute existing stockholders[156]. - The Series C Preferred Stockholders have the right to convert their shares into common stock at a conversion price of $38.6152 per share, which could further dilute existing common stockholders[147]. - The company has never paid cash dividends on its common stock and does not anticipate doing so in the foreseeable future, limiting potential returns for investors[160]. - The company has authorized a repurchase program of up to $200 million for common stock and/or convertible senior notes through December 31, 2027[191]. Revenue Recognition and Accounting Policies - Revenue is recognized when control is transferred to customers, reflecting the consideration the company expects to receive[203]. - Performance obligations are generally satisfied within one year from the reporting date, leading to the omission of transaction price disclosure for open orders[207]. - Shipping and handling fees are included in revenue and accounted for as costs to fulfill promises to customers[208]. - Revenues are recognized net of any taxes collected from customers, which are remitted to governmental agencies[209].

Management View - Cryoport, Inc. reported full year revenue from continuing operations of $176.2 million, exceeding the high end of prior guidance [2] - The company highlighted double-digit revenue growth, indicating strong momentum across core markets [2] Future Outlook - Cryoport outlined a revenue target of $190 million to $194 million for 2026, driven by growth in commercial cell therapy [2]

Core Viewpoint - Belgian drugmaker UCB has entered into a licensing agreement with Antengene for the experimental autoimmune disease therapy ATG-201, involving an upfront payment of $60 million and potential additional payments exceeding $1.1 billion based on milestone achievements [1]. Company Summary - UCB has secured a worldwide license for ATG-201, which targets B-cell-related autoimmune diseases, and will oversee its development, manufacturing, and commercialization [1]. - Antengene plans to submit clinical trial applications for ATG-201 in Australia and China in the first quarter of 2026, with further development to be transferred to UCB after completing phase I trials [1]. Financial Terms - The agreement includes an upfront fee of $60 million, with additional payments contingent on specific conditions and milestones, as well as royalties based on net sales [1]. - The total potential value of the deal could exceed $1.1 billion if certain milestones are met [1].

Financial Data and Key Metrics Changes - The company reported full year revenue from continuing operations of $176.2 million, exceeding the high end of prior guidance, reflecting strong momentum across core markets [13] - The gross margin improved to 47%, with a $12 million year-over-year improvement in adjusted EBITDA [19] Business Line Data and Key Metrics Changes - Revenue from commercial cell and gene therapy increased by 29% year-over-year to a record $33.4 million, representing 20% of overall revenue in Q4 [14][15] - Clinical trial revenue grew 14% year-over-year to $47.1 million, supporting a record 760 clinical trials and 20 commercial therapies worldwide [15][121] - Revenue from life sciences services segment increased by 18% year-over-year, including a 22% growth in biostorage and bioservices revenue [18][121] - The life sciences product segment saw a 7% year-over-year revenue growth [20] Market Data and Key Metrics Changes - The company supports approximately 70% of total clinical trials in the cell and gene therapy industry, with a significant pipeline of 86 clinical trials in phase 3 and 361 in phase 2 [16][121] - The company anticipates 13 BLA or MAA application filings in 2026, with 2 already filed [16] Company Strategy and Development Direction - The company aims to expand services in life sciences by broadening revenue streams and capturing more revenue per client [18] - Strategic partnerships with DHL, Cardinal Health, and Parexel are expected to enhance market position and drive standardization in the cell and gene therapy ecosystem [27][29][88] - The company is leveraging generative AI to enhance internal workflows and operations [25][26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth trajectory for 2026, with full year revenue guidance set at $190 million to $194 million [30] - The company expects to achieve positive adjusted EBITDA in the second half of 2026 [30] - Management noted that the macro environment remains volatile but sees strong interest in services provided [68] Other Important Information - The financials of CRYOPDP are now presented as discontinued operations following its sale to DHL [9] - The company is investing in global supply chain centers in Paris and California to enhance service capabilities [24] Q&A Session Summary Question: Guidance on growth in biologics and services - Management expects continued progress with existing customers and new commercial therapies, with commercial revenue growing by 29% in 2025 [38][39] Question: Clarification on Q1 expectations - Management reported a solid start to Q1 with no expected disruptions from geopolitical issues [50] Question: Impact of funding environment on customer orders - Funding typically influences customer orders after about a six-month lag [55] Question: Expectations for FDA approvals and growth contributions - Management indicated moderate growth from animal health and reproductive health, with cell and gene therapy being the primary growth driver [72] Question: Update on DHL partnership integration - The integration with DHL is ongoing, and full benefits will take time to materialize [83] Question: Insights on product revenue growth - Management noted that MVE's growth should be assessed on an annual basis rather than quarterly due to the nature of capital equipment purchases [101]

Financial Data and Key Metrics Changes - Cryoport reported full year revenue from continuing operations of $176.2 million, exceeding prior guidance and reflecting strong momentum across core markets [6][10] - The company achieved a gross margin of 47% and a $12 million year-over-year improvement in adjusted EBITDA [10][14] - Revenue from life sciences services segment increased 18% year-over-year, with biostorage and bioservices revenue growing by 22% [10][91] Business Line Data and Key Metrics Changes - Revenue from commercial cell and gene therapy increased by 29% year-over-year to a record $33.4 million, representing 20% of overall revenue [6][7] - Clinical trial revenue grew 14% year-over-year to $47.1 million, supporting a record 760 clinical trials and 20 commercial therapies worldwide [7][91] - Revenue from the life sciences product segment grew 7% year-over-year [10] Market Data and Key Metrics Changes - The company supports approximately 70% of total clinical trials in the cell and gene therapy industry, with a significant pipeline of 86 clinical trials in phase 3 and 361 in phase 2 [7][9] - Anticipated new therapy approvals include 9 new therapies and 11 BLA/MAA application filings in 2026 [7][14] Company Strategy and Development Direction - Cryoport aims to expand services in the life sciences sector by broadening revenue streams and enhancing operational discipline to achieve profitability [10][14] - The strategic partnership with DHL is expected to enhance Cryoport's position in APAC and EMEIA regions, leveraging DHL's global scale [13][14] - The company is actively leveraging generative AI to improve internal workflows and operational efficiency [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth trajectory for 2026, with full year revenue guidance set at $190 million to $194 million [14] - The company is confident in its ability to achieve positive adjusted EBITDA in the second half of 2026, driven by growth in commercial therapies and operational efficiencies [10][14] Other Important Information - The financials of CRYOPDP are now presented as discontinued operations following its sale to DHL [4] - The company has made significant investments in global supply chain centers to enhance service capabilities [12] Q&A Session Summary Question: Guidance for growth in biologics and services - Management expects continued progress with existing customers and the onboarding of new commercial therapies, although specific growth percentages were not disclosed [17][20] Question: Clarification on Q1 expectations - Management indicated a solid start to Q1 with no expected disruptions from geopolitical issues [30][32] Question: Impact of funding environment on customer orders - Typically, funding impacts are seen after about a six-month lag [36][37] Question: Expectations for positive adjusted EBITDA - Positive adjusted EBITDA is anticipated due to growth initiatives and operational efficiencies rather than solely cost reductions [38][40] Question: Macro environment impact on revenue guidance - Management feels comfortable with the guidance provided, despite macroeconomic volatility [47][48] Question: Update on partnerships with DHL, Cardinal Health, and Parexel - The integration with DHL is ongoing, and partnerships with Cardinal Health and Parexel are aimed at building a supportive ecosystem for cell and gene therapy [56][63] Question: Anticipated impact of FDA changes on approvals - Streamlining the approval process is expected to benefit the company by increasing patient access to therapies [67][71] Question: MVE product revenue growth - MVE's growth is viewed on an annual basis rather than quarterly, with expectations for moderate growth in 2026 [75][78]

Revenue Growth - FY 2025 revenue increased to $176.2 million, exceeding the high end of previous guidance, representing a 12% year-over-year growth[5]. - Life Sciences Services revenue grew 18% year-over-year to $96.5 million, with BioStorage/BioServices revenue rising 22% to $18.4 million[5][20]. - Revenue from commercial cell and gene therapy support increased 29% year-over-year to $33.4 million, with the company supporting a record 760 global clinical trials[3][12]. - Full-year 2026 revenue guidance is set at $190 million to $194 million, indicating an expected growth of 8% to 10% year-over-year[5][9]. - Total revenue for the three months ended December 31, 2025, was $45.450 million, compared to $41.452 million for the same period in 2024, representing a year-over-year increase of 7.2%[38]. - Life Sciences Services revenue for the year ended December 31, 2025, was $96.497 million, up from $82.044 million in 2024, reflecting a growth of 17.7%[38]. - Life Sciences Products revenue for the year ended December 31, 2025, reached $79.680 million, compared to $74.725 million in 2024, indicating a growth of 6.5%[38]. Profitability and Loss - Net income for FY 2025 was $78.3 million, primarily driven by the divestiture of the CRYOPDP business, compared to a net loss of $114.8 million in FY 2024[27]. - The Company reported a net loss of $11.644 million for the three months ended December 31, 2025, compared to a net loss of $18.669 million for the same period in 2024[38]. - The loss from operations for the year ended December 31, 2025, was $36.806 million, a significant improvement from a loss of $121.671 million in 2024[38]. - For the year ended December 31, 2025, GAAP net income was $78.301 million, compared to a loss of $114.756 million in 2024[45]. - Adjusted net loss for the three months ended December 31, 2025, was $8.521 million, an improvement from a loss of $18.670 million in the same period of 2024[45]. - Adjusted EBITDA from continuing operations for the year ended December 31, 2025, was a loss of $5.779 million, compared to a loss of $17.771 million in 2024[46]. - The company reported a GAAP loss from continuing operations of $33.969 million for the year ended December 31, 2025, compared to a loss of $104.708 million in 2024[46]. Cost Management - Operating costs for FY 2025 decreased to $119.9 million from $191.3 million in FY 2024, reflecting a significant reduction in expenses[21]. - GAAP operating costs and expenses for the year ended December 31, 2025, were $119.860 million, down from $191.328 million in 2024[44]. - Non-GAAP adjusted operating costs and expenses for the year ended December 31, 2025, were $127.519 million, compared to $119.860 million in 2024[44]. Financial Position - The company held $411.2 million in cash, cash equivalents, and short-term investments as of December 31, 2025[25]. - Cash and cash equivalents as of December 31, 2025, were $250.494 million, an increase from $34.000 million in 2024[39]. - The company had total current assets of $476.174 million as of December 31, 2025, compared to $571.000 million in 2024[39]. - Total liabilities as of December 31, 2025, were $262.351 million, compared to $703.492 million in 2024[39]. - Total stockholders' equity as of December 31, 2025, was $502.638 million, compared to $1.000 million in 2024[39]. Strategic Initiatives - Cryoport formed a strategic partnership with DHL Group, enhancing its positioning in the EMEA and APAC regions[8]. - The company launched a Global Supply Chain Center in Paris and expanded operations in Belgium to support key commercial clients[7]. - The Company plans to expand its global partnerships and expects revenue contributions from IntegriCell's cryopreservation service centers throughout 2026[36]. - The Company anticipates potential impacts on its business from external factors such as supply chain constraints and inflationary pressures[28]. - The Company will host a conference call on March 3, 2026, to discuss its financial results and future outlook[31].

Q4 FY-2025 Earnings Call 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, those related to Cryoport's industry, business, long-term growth prospe ...

Core Insights - Cryoport reported a full-year revenue of $176.2 million for FY 2025, exceeding previous guidance and reflecting strong growth in cell and gene therapy support [1][2] - The company provided a revenue guidance for FY 2026 in the range of $190 million to $194 million, indicating an expected growth of 8% to 10% year-over-year [1][3] Financial Performance - Total revenue for Q4 2025 was $45.5 million, a 10% increase from $41.5 million in Q4 2024 [2][3] - Life Sciences Services revenue for FY 2025 grew 18% year-over-year to $96.5 million, while Life Sciences Products revenue increased by 7% to $79.7 million [2][3] - Gross margin for FY 2025 was 47.1%, up from 44.4% in FY 2024, with Life Sciences Services achieving a gross margin of 48.8% [2][3] Operational Highlights - Cryoport supported a record 760 global clinical trials as of December 31, 2025, with 70% of these being cell and gene therapy trials [1][2] - The company launched several new initiatives, including a Global Supply Chain Center in Paris and expanded operations in Belgium [1][2] - MVE Biological Solutions introduced the Fusion® 800 Series, a new self-sustaining cryogenic freezer, enhancing its product offerings [2][3] Strategic Developments - A strategic partnership with DHL Group was formed, which included the acquisition of CRYOPDP, aimed at enhancing Cryoport's capabilities in the EMEA and APAC regions [1][2] - The company anticipates 13 BLA/MAA application filings in 2026, including two already filed, indicating a robust pipeline for new therapies [2][3] Market Position - Cryoport's leadership in supporting clinical and commercial programs positions it well for sustained long-term growth, driven by increasing demand in the cell and gene therapy market [1][2] - The company continues to enhance its operational discipline while focusing on revenue growth and market position [1][2]

Core Viewpoint - Cryoport, Inc. has launched the MVE Fusion® 800 Series, a self-sustaining cryogenic freezer that enhances storage capacity and flexibility while eliminating the need for continuous liquid nitrogen supply, making it suitable for space-constrained environments [1]. Group 1: Product Features - The MVE Fusion® 800 Series is designed to deliver high-capacity storage, reliability, safety, and sustainability in a compact footprint [1]. - The freezer maintains steady state temperatures at or below -150°C, making it ideal for storing vials, blood bags, and cassettes [1]. - The product has been recognized with the ISBER Outstanding New Product Award, highlighting its innovative technology [1]. Group 2: Market Impact - The Fusion 800 is expected to become the new standard in research facilities and hospital pharmacies worldwide, addressing longstanding challenges in cryogenic storage [1]. - The product is targeted at various sectors, including medical research facilities, clinical development operations, hospital pharmacies, biorepositories, and blood and tissue banks [1]. - The introduction of the Fusion 800 is seen as a significant advancement in the industry, providing operational freedom without the infrastructure burden of traditional cryogenic systems [1]. Group 3: Company Overview - Cryoport, Inc. is a leading global provider of temperature-controlled supply chain solutions for the life sciences, focusing on regenerative medicine [1]. - The company offers a comprehensive suite of services and products designed to minimize risk and maximize reliability across the temperature-controlled supply chain [1]. - Cryoport maintains a strong global presence with operations across the Americas, EMEA, and APAC [1].