Cryoport, Inc. (NASDAQ:CYRX) Q1 2022 Earnings Conference Call May 5, 2022 5:00 PM ET Company Participants Todd Fromer - President, KCSA Strategic Communications Jerrell Shelton - CEO Robert Stefanovich - CFO Mark Sawicki - CSO Conference Call Participants John Sourbeer - UBS Brandon Couillard - Jefferies Michael Jones - SVB Securities Joseph Conway - Needham & Co. Paul Knight - KeyBanc David Larsen - BTIG Yuan Zhi - B. Riley Securities Jacob Johnson - Stephens Operator Thank you for standing by. This is the ...

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 March 31, 2022 ☐ 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 (St ...

Clinical Trials and Therapies - Cryoport supported 602 clinical trials and eight commercial therapies by the end of fiscal year 2021, with expectations of up to 19 Biologic License Applications (BLAs) and Marketing Authorization Applications (MAAs) submissions in 2022[14]. - As of December 31, 2021, Cryoport supported over 602 clinical trials in regenerative medicine and logged over 500,000 shipments to over 100 countries in the last 12 months[32]. - Cryoport is now supporting eight commercially approved products in the regenerative medicine space, including therapies from Novartis and Bristol Myers Squibb[32]. - Cryoport supports 602 clinical trials and 8 commercial programs in the cell and gene therapy market, establishing itself as a premier provider of supply chain solutions[56]. Customer Base and Global Presence - The company serves over 3,000 customers across 15 countries and 33 locations, employing more than 850 personnel[13]. - The acquisition of CRYOPDP in October 2020 expanded Cryoport's network to 33 facilities in 15 countries, enhancing logistics capabilities and client proximity[35]. - As of December 31, 2021, Cryoport leased or owned 33 total sites across the Americas, EMEA, and APAC regions, enhancing its global logistics capabilities[64]. - The geographical revenue breakdown for 2021 shows 54.0% from the Americas, 26.7% from EMEA, and 19.3% from APAC, indicating a shift in market focus[70]. Supply Chain Solutions - Cryoport's advanced supply chain platform includes the Cryoportal® and CRYOPDP UnITy platforms, which provide near real-time shipment tracking and regulatory compliance[19]. - Cryoport's Chain of Compliance® solutions ensure full traceability and minimize risks for clients' new biologics and therapies[16]. - Cryoport's solutions are designed to support various therapy types, including cell-based autologous immunotherapy, allogeneic therapies, and gene therapies, ensuring compliance and safety throughout the supply chain[21][23][24]. - Cryoport's Cryoportal® logistics management platform provides 24/7 monitoring of shipments and predictive analysis, ensuring high service reliability[33]. Product Development and Innovation - The company is launching the Cryoport ELITE™ product line, which includes the Cryosphere™ and an ELITE™-80°C shipper, aimed at supporting cell and gene therapy distribution[20]. - The Cryosphere™, a new cryogenic shipper, is expected to launch in the first half of 2022, designed to stabilize payloads and enhance user experience[41]. - The Cryoport ELITE™ -80°C Gene Therapy Shipper is set to launch in the first half of 2022, featuring advanced temperature management and data collection systems[87]. - Cryoport's MVE Fusion® Cryogenic Freezers are the first self-sustaining cryogenic freezers, eliminating the need for ongoing liquid nitrogen supply[89]. Environmental and Sustainability Initiatives - The company has initiated a formal internal evaluation of its ESG policies since 2020, with a focus on developing a comprehensive sustainability program[115]. - In 2021, the Houston plant consumed 4,489,987 kWh of electricity, and by utilizing GHG emissions-free electricity, the emission of 1,440,257 pounds of GHGs was avoided, equivalent to removing 242 passenger vehicles driven for one year[124]. - Cryoport's use of liquid nitrogen freezers prevented the consumption of 1,883,136 kWh of electricity in 2021, avoiding 1,725,871 pounds of GHG emissions compared to standard mechanical freezers[126]. - The MVE Biological Solutions production facility's fusion freezer units saved 139,424,817 kWh of energy annually, equivalent to avoiding 123,444,781 pounds of GHG emissions, or the emissions from 21,489 passenger vehicles driven for one year[143]. Financial Overview - The estimated fair value of the Convertible Senior Notes was $345.4 million as of December 31, 2021[377]. - As of December 31, 2021, the company had foreign-denominated cash and cash equivalents totaling $19.3 million[379]. - A 5%, 10%, and 20% adverse change in foreign exchange would result in declines of $1.0 million, $1.9 million, and $3.9 million, respectively, in "Accumulated other comprehensive income (loss)"[379]. - A 5%, 10%, and 20% adverse change in foreign exchange for these balances would lead to losses of $3.9 million, $7.8 million, and $15.7 million, respectively, recorded in "Accumulated other comprehensive income (loss)"[380]. Workforce and Diversity - As of December 31, 2021, the company employed 847 individuals, an increase of over 220 employees since December 31, 2020, to support global growth[160]. - As of December 2021, women represented approximately 30% of all employees, with 18% in management and 8% in director roles, indicating a need for improved gender diversity in senior leadership[134]. Compliance and Quality Standards - Cryoport's manufacturing operations are ISO 13485 certified, ensuring compliance with medical manufacturing standards and regular audits by authorized authorities[108]. - Cryoport's products comply with various international safety and quality standards, including ISO 13485 and IEC 60601-1, ensuring the safety and efficacy of its temperature-controlled supply chain solutions[138]. - Cryoport's Chain of Compliance™ platform aligns with ISO 21973 guidance, ensuring high standards for the transportation of cells for therapeutic use[56]. Strategic Growth and Market Position - The company emphasizes its competitive advantage through its integrated platform of services and technology-driven supply-chain solutions, which are unmatched in the industry[28]. - Cryoport aims to expand its global presence and capabilities through targeted acquisitions and strategic alliances in the life sciences sector[51]. - The company anticipates hiring additional personnel as required to implement its global growth strategy[160]. - Cryoport plans to enhance its sales and marketing initiatives globally, focusing on the Americas, EMEA, and APAC regions, by hiring additional resources and expanding its distributor network[82].

Financial Data and Key Metrics Changes - The company reported total revenue of $222.6 million for the full year 2021, representing a 183% year-over-year growth [14] - Organic revenue growth was 34% in Q4 2021, indicating strong performance [14] - The company ended the year with $628 million in cash, cash equivalents, and short-term investments, marking the strongest financial position in its history [13] Business Line Data and Key Metrics Changes - The company onboarded 311 new pharma/biopharma customers during the quarter, contributing to a total of 602 regenerative medicine clinical trials supported, a 14% increase from 2020 [15] - Revenue from commercial agreements increased globally, with commercial biopharma revenue rising by 44% in Q4 [28] - MVE and CRYOPDP experienced mid-20s growth rates year-over-year, with MVE facing a $2 million revenue slippage due to transportation challenges [21][22] Market Data and Key Metrics Changes - The company operates 33 facilities in 15 countries, expanding its geographic footprint to cover key biopharmaceutical regions [18] - The cell and gene therapies market is experiencing rising activity, with 11 Cryoport-supported BLAs or MAAs filed in 2021 and an anticipated 19 filings in 2022 [16][17] Company Strategy and Development Direction - The company aims to sharpen its focus on the cell and gene therapy markets, strengthen its brands, and build market share leadership [20] - The company is actively pursuing M&A opportunities to enhance its capabilities in biostorage, logistics, and software services [43][44] - New initiatives for 2022 include the opening of global bioservices centers and the introduction of the Cryosphere technology [46][49] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing supply chain challenges but expressed confidence in managing these issues effectively [24] - The company expects continued strong demand in the biopharma market, with a flywheel of clinical trials driving growth [41] - Management reiterated aspirational revenue goals of $650 million to $750 million by 2025 [40] Other Important Information - The company reported a $19 million adjusted EBITDA for the year, compared to breakeven the previous year, indicating improved operational performance [54] - SG&A costs increased due to resource additions for engineering and development work, as well as preparations for launching new bioservices centers [52] Q&A Session Summary Question: Performance of MVE and CRYOPDP - Management confirmed that both MVE and CRYOPDP performed well, with mid-20s growth rates year-over-year, despite a $2 million revenue slippage in Q4 due to transportation delays [21][22] Question: Supply Chain Challenges - Management acknowledged ongoing supply chain issues but stated they are manageable and do not foresee significant disruptions in the future [24][31] Question: Clinical Trial Business and Funding - Activity in clinical trials remains robust, with a record number of trials supported, and companies in the cell and gene space are well-funded [27] Question: Competitive Contract Wins and Market Share - Management believes they will continue to capture market share in the cell and gene therapy space, with minimal impact from COVID trials [30] Question: SG&A Costs Increase - The increase in SG&A costs is attributed to resource additions for engineering and preparations for new bioservices centers [52] Question: Incremental Revenue from Clinical Trials - The company is diversifying revenue streams beyond transportation, leading to increased average spend per clinical trial [58]

Cryoport, Inc. (NASDAQ:CYRX) Q3 2021 Earnings Conference Call November 4, 2021 5:00 PM ET Company Participants Todd Fromer – President, KCSA Strategic Communications Jerrell Shelton – Chief Executive Officer Mark Sawicki – Chief Scientific Officer Robert Stefanovich – Chief Financial Officer Thomas Heinzen – Vice President of Corporate Development and Investor Relations Conference Call Participants John Sourbeer – UBS Chad Wiatrowski – SVB Leerink Matt Andrews – Jefferies Paul Knight – KeyBanc David Larsen ...

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 September 30, 2021 ☐ 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 ...

Cryoport, Inc. (NASDAQ:CYRX) Q2 2021 Earnings Conference Call August 5, 2021 5:00 PM ET Executives Todd Fromer - Managing Partner-KCSA Jerrell Shelton - Chairman, President and Chief Executive Officer Robert Stefanovich - Chief Financial Officer, Treasurer and Corporate Secretary Mark Sawicki - Chief Scientific Officer Thomas Heinzen - Vice President-Corporate Development & Investor Relations Analysts Matt Andrews - Jefferies Andrew D'Silva - B. Riley Securities David Larsen - BTIG Jacob Johnson - Stephens ...

Market Overview - The global cell and gene therapy (C&GT) market was valued at approximately $4.2 billion in 2019 and is projected to grow to over $33.1 billion by 2024[210]. Clinical Trials and Support - As of the end of Q2 2021, the company supported 561 clinical trials and seven commercial therapies, with expectations of up to 11 additional submissions for Cryoport-supported products in the second half of 2021[211]. - The number of clinical trials supported increased to 561, with 69 Phase III trials as of June 30, 2021, indicating growth in biopharmaceutical activities[260]. Acquisitions and Strategic Alliances - The acquisition of CRYOPDP expanded the company's global presence to 27 supply chain centers in 13 countries, enhancing its capabilities in temperature-controlled logistics solutions[224]. - The acquisition of MVE Biological Solutions strengthens the company's position in the biopharma/pharma markets and secures its supply of cryogenic shippers and biostorage equipment[225]. - The company aims to continue pursuing targeted acquisitions to enhance its market leadership and broaden its capabilities[217]. - The company has established strategic alliances with major logistics providers such as FedEx, DHL, and UPS to integrate its solutions into their services[215]. Revenue and Financial Performance - Total revenues increased by $46.8 million, or 498.5%, from $9.4 million to $56.2 million for the three months ended June 30, 2021, compared to the same period in 2020[237]. - Service revenues increased by $20.3 million, or 216.1%, from $9.4 million to $29.7 million for the three months ended June 30, 2021, driven by the acquisition of CRYOPDP[238]. - Product revenues were $26.5 million for the three months ended June 30, 2021, primarily due to the acquisition of MVE Biological Solutions[239]. - Revenue from the biopharma/pharma market increased by $36.9 million, or 431.0%, from $8.6 million to $45.5 million for the three months ended June 30, 2021[241]. - Total revenues increased by $90.3 million, or 471.3%, from $19.2 million to $109.5 million for the six months ended June 30, 2021, compared to the same period in 2020[256]. - Service revenues increased by $37.3 million, or 194.5%, from $19.2 million to $56.4 million for the six months ended June 30, 2021, driven by the acquisition of CRYOPDP[257]. - Product revenues were $53.0 million for the six months ended June 30, 2021, primarily due to the acquisition of MVE Biological Solutions[258]. Expenses and Margins - Gross margin for the three months ended June 30, 2021 was 45.2% of total revenues, compared to 54.6% for the same period in 2020[244]. - Selling, general and administrative expenses increased by $15.7 million, or 173.5%, compared to the first quarter of 2020, primarily due to acquisitions[248]. - Gross margin for the six months ended June 30, 2021 was 45.6% of total revenues, down from 54.2% for the same period in 2020[263]. - Selling, general and administrative expenses increased by $29.9 million, or 185.5%, compared to the same period in 2020, primarily due to acquisitions and infrastructure expansion[267]. Cash Flow and Investments - As of June 30, 2021, the company had cash and cash equivalents of $60.4 million and $289.1 million in short-term investments, with working capital of $373.6 million[280]. - Net cash used in investing activities was $246.3 million during the six months ended June 30, 2021, primarily due to the acquisition of CTSA and F-airGate and the purchase of short-term investments[282]. - Net cash provided by financing activities totaled $273.3 million during the six months ended June 30, 2021, mainly from net proceeds of $269.8 million from a public offering of common stock[283]. Future Outlook and Risks - The company recognizes potential need for additional capital to fund future acquisitions, which may involve equity and/or debt funding sources[284]. - Foreign exchange risk related to cash and cash equivalents of $18.1 million could result in declines of $0.9 million, $1.8 million, and $3.6 million under adverse changes of 5%, 10%, and 20% respectively[289].

Market Growth and Trends - The global cell and gene therapy (C&GT) market was valued at approximately $4.2 billion in 2019 and is projected to grow to over $33.1 billion by 2024[210]. - The biopharma/pharma market has over 1,200 global clinical trials underway in 2021, highlighting the growing demand for temperature-controlled supply chain solutions[228]. Company Performance and Financials - Total revenues increased by $43.5 million, or 445.2%, from $9.8 million to $53.3 million for the three months ended March 31, 2021, compared to the same period in 2020[236]. - Service revenues rose by $17.0 million, or 173.8%, from $9.8 million to $26.8 million for the three months ended March 31, 2021, driven by the acquisition of CRYOPDP[237]. - Product revenues were $26.5 million for the three months ended March 31, 2021, primarily due to the acquisition of MVE Biological Solutions[238]. - Revenue from the biopharma/pharma market increased by $33.6 million, or 382.5%, from $8.8 million to $42.4 million for the three months ended March 31, 2021[240]. - Revenues in the reproductive medicine market increased by $1.1 million, or 148.4%, from $0.8 million to $1.9 million for the three months ended March 31, 2021[242]. - Gross margin for the three months ended March 31, 2021, was 46.1% of total revenues, compared to 53.8% for the same period in 2020[243]. - Organic revenue increased by $3.5 million, or 35.3%, to $13.2 million for the three months ended March 31, 2021[236]. - Adjusted EBITDA for the three months ended March 31, 2021, was $6.978 million, compared to a loss of $1.770 million in the same period in 2020[258]. Operational Developments - As of the end of Q1 2021, the company supported 543 clinical trials and seven commercial therapies, with expectations for up to 21 additional C&GTs to file for regulatory approval in 2021[211]. - The number of clinical trials supported increased to 543, with 69 Phase III trials as of March 31, 2021[240]. - The company expanded its global presence to a network of 27 supply chain centers in 13 countries following the acquisition of CRYOPDP in October 2020[224]. - The acquisition of MVE Biological Solutions enhances the company's capabilities in cryobiological storage and transportation, securing supply for the growing C&GT market[225]. - The company has established strategic alliances with major logistics providers, including FedEx, DHL, and UPS, to integrate advanced cryogenic logistics solutions[215]. - The Cryoportal Logistics Management Platform provides comprehensive shipment management, including near real-time tracking and regulatory compliance[220]. - The Chain of Compliance® solution introduced in 2018 sets a new industry standard for traceability in the C&GT market[221]. - The company is focused on continuous innovation to develop products that address unmet needs in the global supply chain of the C&GT market[213]. Expenses and Financial Management - Selling, general and administrative expenses increased by $14.3 million, or 200.7%, compared to the first quarter of 2020, primarily due to acquisitions[247]. - Engineering and development expenses increased by $2.6 million, or 148.4%, for the three months ended March 31, 2021, compared to the same period in 2020, primarily due to consulting and development costs[249]. - Interest expense rose by $1.2 million for the three months ended March 31, 2021, compared to the same period in 2020, attributed to interest on convertible senior notes[250]. - The provision for income taxes increased by $1.0 million for the three months ended March 31, 2021, with an effective tax rate of negative 41.7% for U.S. earnings[252]. Cash Flow and Capital Management - As of March 31, 2021, the company had cash and cash equivalents of $85.5 million and short-term investments of $267.7 million, with working capital of $381.9 million[259]. - Net cash used in investing activities was $215.4 million during the three months ended March 31, 2021, primarily due to the purchase of short-term investments[261]. - Net cash provided by financing activities totaled $271.4 million during the three months ended March 31, 2021, mainly from net proceeds of $269.8 million from a public offering[262]. - The company recognizes potential need for additional capital to fund operations and acquisitions until sustained profitable operations are achieved[263]. - Foreign exchange risk related to cash and cash equivalents as of March 31, 2021, indicates that a 5%, 10%, and 20% adverse change would result in declines of $0.8 million, $1.5 million, and $3.1 million, respectively[268]. Impact of COVID-19 - The company continues to monitor the evolving situation caused by the COVID-19 pandemic, which has temporarily impacted revenue growth[234].

Cryoport, Inc. (NASDAQ:CYRX) Q1 2021 Results Conference Call May 4, 2021 5:00 PM ET Company Participants Todd Fromer - Managing Partner, KCSA Jerrell Shelton - CEO Robert Stefanovich - CFO Dr. Mark Sawicki - Chief Scientific Officer Thomas Heinzen - VP, Corporate Development and IR Conference Call Participants Matt Andrews - Jefferies Andrew D’Silva - B. Riley Paul Knight - KeyBanc David Saxon - Needham John Sourbeer - UBS Richard Baldry - ROTH Capital Partners Operator Thank you for standing by. This is th ...