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]

Start Time: 17:00 January 1, 0000 5:41 PM ET Cryoport, Inc. (NASDAQ:CYRX) Q4 2024 Earnings Conference Call March 04, 2025, 17:00 PM ET Company Participants Jerrell Shelton - CEO Robert Stefanovich - CFO Mark Sawicki - Chief Scientific Officer Thomas Heinzen - VP IR and Corporate Development Todd Fromer - IR, KCSA Strategic Communications Conference Call Participants Anna Snopkowski - KeyBanc Capital Markets Puneet Souda - Leerink Partners David Saxon - Needham Subbu Nambi - Guggenheim David Larson - BTIG Ri ...

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]

Core Insights - Cryoport, Inc. reported total revenue of $228.4 million for FY 2024, which aligns with company expectations, despite a 2.1% decrease from FY 2023 [2][10] - The company experienced significant revenue growth in its Cell & Gene therapy support, with a 37% increase in Q4 2024 and a 20% increase for the full year compared to the previous year [2][7] - Gross margin improved to 45.8% in Q4 2024, up from 40.6% in Q4 2023, indicating progress in cost structure improvements [4][20] Financial Performance - Q4 2024 total revenue was $59.5 million, a 4.0% increase from $57.3 million in Q4 2023 [20] - Life Sciences Services revenue for Q4 2024 was $39.6 million, up 6.8% year-over-year, while Life Sciences Products revenue decreased by 1.3% to $20.0 million [20] - For FY 2024, Life Sciences Services revenue was $153.7 million, a 6.6% increase, while Life Sciences Products revenue fell by 16.2% to $74.7 million [20] Cost Management - Operating costs and expenses decreased significantly to $41.2 million in Q4 2024 from $93.1 million in Q4 2023, largely due to a non-cash impairment charge in the previous year [11][20] - The company implemented cost reduction and capital realignment strategies, contributing to improved gross margins and a pathway to positive adjusted EBITDA in 2025 [4][12] Clinical Trials and Market Position - As of December 31, 2024, Cryoport supported a total of 701 global clinical trials, an increase of 26 trials from the previous year [8][10] - The company anticipates further growth in the Cell & Gene Therapy market and plans to expand its service offerings and revenue streams through new product introductions and strategic collaborations [5][10] Future Outlook - Cryoport provided revenue guidance for FY 2025 in the range of $240 million to $250 million, reflecting confidence in continued growth [15] - The company expects to file up to 23 additional Biologic License Applications (BLA) in 2025, along with five new therapy approvals [9][10]

Core Viewpoint - Cryoport, Inc. will report its financial results for the fourth quarter and full year ended December 31, 2024, on March 4, 2025, after U.S. markets close [1] Financial Results Announcement - A document titled "Cryoport Fourth Quarter and Full Year 2024 in Review" will be released at 4:05 p.m. ET on March 4, 2025, providing a review of financial and operational performance [2] - The document is intended for review prior to a Q&A conference call scheduled for the same day [2] Conference Call Details - The conference call will take place at 5:00 p.m. ET on March 4, 2025, in a Q&A format addressing questions from the investment community [3] - A slide deck will accompany the call [3] - Dial-in numbers for the call are provided for both U.S. and international participants [4] Replay Information - The Q&A call will be recorded and available for replay approximately three hours after the live event [5] - A dial-in replay will be accessible until March 11, 2025, with specific numbers provided for U.S. and international callers [5] Company Overview - Cryoport, Inc. is a global leader in supply chain solutions for the life sciences, focusing on cell and gene therapies [6] - The company offers a wide range of supply chain solutions, including temperature-controlled packaging, informatics, bio-logistics services, and cryogenic systems [6] - Cryoport operates from its headquarters in Nashville, Tennessee, with over 50 global locations across 17 countries [7]

Core Insights - Cryoport, Inc. has introduced the Cryoport Express® Cryogenic HV3 Shipping System, enhancing patient access to critical therapies and showcasing it at Phacilitate's Advanced Therapies Week in Dallas [1][5] Product Features - The HV3 shipping system offers unparalleled protection for biologics, eliminating the need for palletization and allowing transport on narrow-bodied aircraft, thus increasing shipping lanes and improving patient access [2][3] - It provides enhanced payload protection, resilience during transport, and improved storage efficiency through stackable design, while maintaining temperature stability at -150°C or lower [3][4] - The system is designed for mobility with robust wheels and a front-facing handle, facilitating efficient handling at various sites, including point-of-care and manufacturing locations [4][6] Company Commitment - The CEO of Cryoport emphasized the company's commitment to addressing industry challenges and improving patient outcomes through innovative solutions like the HV3 [5] - The Chief Product Development Officer highlighted the user-centric design of the HV3, aimed at overcoming logistical challenges in transporting advanced therapies globally [6] Company Overview - Cryoport, Inc. is a global leader in supply chain solutions for life sciences, focusing on cell and gene therapies, and offers a wide range of services to ensure compliance and efficiency in the supply chain [7][8]

Core Insights - Moffitt Cancer Center and Cryoport, Inc. have announced a strategic collaboration to provide state-of-the-art biorepository services through Cryoport's CRYOGENE unit, enhancing Moffitt's capabilities in cell and gene therapies [1][2][3] Company Overview - Moffitt Cancer Center is a National Cancer Institute-designated comprehensive cancer center focused on cancer prevention and treatment, recognized for its scientific excellence and multidisciplinary research [9] - Cryoport, Inc. is a global leader in supply chain solutions for the life sciences industry, specializing in biostorage and logistics services for cell and gene therapies [10][11] Collaboration Details - The collaboration aims to transform Moffitt's Speros campus into a global epicenter for innovation in various therapies, including cell and gene therapies, immunotherapies, and radiopharmaceuticals [2][3][4] - CRYOGENE will provide advanced biostorage technologies and logistics services, supporting both patient treatments and medical research at Moffitt [3][4] Market Potential - The cell and gene therapy industry is projected to exceed $97 billion by 2033, with a compound annual growth rate of 18.3% from 2024 to 2033, highlighting the growing demand for biorepository services [3] Infrastructure Development - The CRYOGENE facility will be integrated into the initial phase of the Speros campus development, located next to Moffitt's Discovery & Innovation Center, which spans 250,000 square feet [2][4] - Speros aims to create a comprehensive ecosystem for life sciences, focusing on critical activities such as drug discovery, artificial intelligence, and biotech [5][6]

Core Insights - Cryoport, Inc. announced that MVE Biological Solutions has registered all three of its manufacturing facilities with the FDA, enhancing its compliance and credibility in the life sciences sector [1][2][3] Company Overview - Cryoport, Inc. is a global leader in supply chain solutions for cell and gene therapies, providing a wide range of services including temperature-controlled packaging and bio-logistics [4] - MVE Biological Solutions is recognized as the leading manufacturer of cryogenic storage and shipping devices, with over 60 years of experience in the industry [6] Regulatory Compliance - MVE adheres to stringent FDA requirements, including 21 CFR Part 820 and Good Manufacturing Practices (GMP), in addition to holding an ISO 13485 certification [2][3] - The FDA registration and product listing signify MVE's commitment to meeting high global regulatory standards [2][3] Manufacturing Facilities - MVE's manufacturing facilities are located in Ball Ground, Georgia; New Prague, Minnesota; and Chengdu, China, with products distributed globally in 88 countries [1][7] Commitment to Quality - The CEO of Cryoport emphasized the company's dedication to delivering high-quality supply chain solutions and bringing lifesaving therapies to patients [3]

Group 1 - The article expresses a negative outlook on Cryoport (NASDAQ: CYRX), labeling it as one of the worst long-term investment opportunities in the market [1] - Crude Value Insights focuses on cash flow and companies that generate it, emphasizing value and growth prospects in the oil and natural gas sector [1] Group 2 - Subscribers to Crude Value Insights gain access to a 50+ stock model account and in-depth cash flow analyses of exploration and production (E&P) firms [2] - The service includes live chat discussions about the oil and gas sector, enhancing community engagement and information sharing [2] - A promotional offer is available for a two-week free trial, encouraging new sign-ups to explore the oil and gas investment opportunities [3]