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]

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Core Insights - Cryoport, Inc. has opened a new IntegriCell facility in Villers-le-Bouillet, Belgium, aimed at supporting clinical and commercial cell-based therapy programs through advanced cryopreservation solutions for leukapheresis materials [1][3][4] Group 1: Facility Overview - The IntegriCell facility spans approximately 1,300 square meters (about 13,400 square feet) and is GMP-compliant, enhancing Cryoport's capabilities in cryogenic preservation methods for leukapheresis materials [3] - The facility is designed to cryopreserve over 1,100 leukapheresis products annually, ensuring a reliable supply of high-quality, manufacture-ready cryopreserved leukopaks [3][4] Group 2: Strategic Importance - This facility serves as Cryoport Systems' European Center of Excellence, facilitating the transfer of optimized cryopreservation processes to other Cryoport locations, thereby ensuring consistent quality across various clinical and commercial programs [3][4] - The opening of the Belgium facility extends Cryoport's global reach and enhances its ability to deliver standardized cryopreservation solutions, which is critical for the cell therapy community [4] Group 3: Company Background - Cryoport, Inc. is recognized as a global leader in supply chain solutions for the life sciences sector, particularly focusing on cell and gene therapies [5] - The company operates over 50 global locations across 17 countries, providing a broad array of supply chain solutions, including temperature-controlled packaging and specialized bio-logistics services [6]

Financial Data and Key Metrics Changes - The Life Sciences Services business experienced a 9% growth in Q3 2024, with BioStorage and BioServices revenue increasing over 12% year-over-year [9] - The company maintained its full-year revenue guidance of $225 million to $235 million, anticipating continued growth in Life Science Services despite ongoing softness in the Life Sciences Product business [10] - Gross margin improved to 46% for the Life Science Services business, with adjusted EBITDA showing positive cash flow through the quarter [11][45] Business Line Data and Key Metrics Changes - BioServices revenue was just under $4 million, up 12%, indicating solid improvement and consistent increases in BioServices revenue outpacing the overall services business [34] - The MVE Biological Solutions business faced uneven market recovery, with weaker cryogenic freezer demand in North America and EMEA, but a pickup in order flow from APAC [31] - CRYOGENE's biorepository operations in San Antonio successfully onboarded its first major client, contributing to growth in the national cord blood market [14] Market Data and Key Metrics Changes - The company supported a total of 691 global clinical trials as of September 30, a net increase of 21 clinical trials over the previous year, with 79 of these in Phase III [19] - Biopharma market funding decreased sequentially in Q3 2024, totaling about $16 billion compared to $43 billion in Q1 and $23 billion in Q2, but year-to-date aggregate funding remains notably above 2023 and 2022 levels [26] Company Strategy and Development Direction - The company is focused on executing cost reduction and realignment strategies to achieve sustainable profitability, with expectations of returning to positive adjusted EBITDA during 2025 [11][20] - The launch of the IntegriCell cryopreservation solution aims to optimize the supply chain for cell-based therapies, enhancing service offerings [13] - The company is strategically positioned to leverage anticipated long-term growth in life sciences and the high-growth cell and gene therapy markets [21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing macro and sector-specific challenges impacting life science tools companies but remains optimistic about long-term growth trajectories [20] - The company expects to see a strong step-up in Q4 2024, driven by the ramp-up of recently launched therapies and increased clinical trial activity [51][64] - Management indicated that the demand for MVE products is expected to remain depressed for the year, but the business remains profitable with positive cash flow [32][42] Other Important Information - The company has initiated actions expected to generate over $20 million in annualized cost savings, with improvements in gross margin and cash flow already observed [43][45] - The first manufactured units of the HV-3 shippers are undergoing final qualification and quality checks, with market availability expected by the end of the year [56] Q&A Session Summary Question: Clinical trial service business performance - Management noted that label expansions take about six to twelve months to impact operations, with several projects contributing positively [23][24] Question: MVE product line performance - Demand for cryogenic freezers has been weaker in North America and EMEA, but order flow from APAC is improving [31] Question: BioStorage business updates - BioServices revenue continues to increase, and the IntegriCell launch is progressing well with contracts signed [34][35] Question: 2025 market demand expectations - Management expects modest revenue changes for MVE and anticipates a strong step-up in services revenue due to ongoing clinical trial support [55][62] Question: Commercial revenue outlook - Management is confident in the long-term growth of commercial revenue, supported by multiple therapy approvals and ongoing clinical trials [60][63]

Q3 2024 Earnings Call November 7, 2024 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, long-ter ...

Financial Performance - CryoPort, Inc. reported a quarterly loss of $0.02 per share, significantly better than the Zacks Consensus Estimate of a loss of $0.25, representing an earnings surprise of 92% [1] - The company posted revenues of $56.66 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 2.52%, but showing a slight increase from $56.16 million year-over-year [2] - Over the last four quarters, CryoPort has surpassed consensus EPS estimates two times, but has not beaten consensus revenue estimates during the same period [2] Stock Performance - CryoPort shares have declined approximately 48.2% since the beginning of the year, contrasting with the S&P 500's gain of 24.3% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.22 on revenues of $59.54 million, and for the current fiscal year, it is -$1.68 on revenues of $229.79 million [7] Industry Outlook - The Transportation - Services industry, to which CryoPort belongs, is currently ranked in the bottom 18% of over 250 Zacks industries, indicating potential challenges ahead [8] - The performance of CryoPort's stock may be influenced by the overall outlook for the industry, as research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered 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, 2024 ☐ 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 CRYOPOR ...

Exhibit 99.1 Cryoport Reports Third Quarter 2024 Financial Results § Q3 2024 Life Sciences Services revenue up 9% year-over-year, including BioStorage/BioServices revenue up 12% yearover-year § Supported a record total of 691 global clinical trials as of September 30, 2024 § Company reaf irmed full year 2024 revenue guidance of $225 to $235 million NASHVILLE, Tennessee, November 7, 2024, - Cryoport, Inc. (NASDAQ: CYRX) (Cryoport), a global leader in supply chain solutions for the life sciences industry, tod ...

Core Insights - Cryoport, Inc. reported a 9% year-over-year increase in Life Sciences Services revenue for Q3 2024, with BioStorage/BioServices revenue rising by 12% [1][2] - The company supported a record total of 691 global clinical trials as of September 30, 2024, marking a net increase of 21 trials from the previous year [1][9] - Cryoport reaffirmed its full-year 2024 revenue guidance of $225 million to $235 million, anticipating continued growth in services despite ongoing softness in product sales [3][20] Financial Performance - Total revenue for Q3 2024 was $56.7 million, a slight increase of 1% compared to $56.2 million in Q3 2023 [14] - Life Sciences Services revenue for Q3 2024 was $39.3 million, up 9% year-over-year, while Life Sciences Products revenue decreased by 13.7% to $17.4 million [14][15] - For the first nine months of 2024, total revenue was $168.9 million, down from $176.0 million in the same period of 2023 [14] Gross Margin and Operating Costs - The total gross margin improved to 44.8% in Q3 2024 from 43.2% in Q3 2023, with Life Sciences Services gross margin at 46.0% [15] - Operating costs and expenses for Q3 2024 were $41.8 million, slightly higher than $41.2 million in Q3 2023 [16] Net Income and Adjusted EBITDA - Cryoport reported a net income of $0.8 million for Q3 2024, a significant improvement from a net loss of $13.3 million in Q3 2023 [17] - Adjusted EBITDA for Q3 2024 was a negative $2.4 million, an improvement from a negative $3.1 million in Q3 2023 [18] Cash Position and Debt Management - As of September 30, 2024, Cryoport held $272.7 million in cash, cash equivalents, and short-term investments [18] - The company announced a repurchase program for up to $200 million of its common stock and/or convertible senior notes, with $175 million in convertible senior notes repurchased during Q3 2024 [18] Market Position and Future Outlook - Cryoport is strategically positioned to leverage anticipated long-term growth in the Life Sciences and Cell & Gene Therapy markets through its integrated supply chain solutions [5] - The company plans to focus on profitable growth and maintaining a strong balance sheet amid ongoing macroeconomic challenges [5][20]

Core Viewpoint - Cryoport, Inc. will report its financial results for the third quarter of 2024 on November 7, 2024, after U.S. markets close [1]. Financial Results Announcement - The earnings release will be accompanied by a document titled "Cryoport Third Quarter 2024 in Review," which will provide a review of the company's financial and operational performance [2]. - The document will be available at 4:05 p.m. ET on the same day, designed for pre-reading before the Q&A conference call [2]. Conference Call Details - A conference call will be held on November 7, 2024, at 5:00 p.m. ET, formatted as a Q&A session for the investment community [3]. - Dial-in numbers for the call are provided for both U.S. and international participants, along with a confirmation code [4]. Replay Information - The Q&A call will be recorded and available for replay approximately three hours after the live event, accessible on the company's Investor Relations website [5]. - A dial-in replay will also be available until November 14, 2024, with specific numbers provided for access [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 services, including advanced temperature-controlled packaging, bio-logistics, and cryogenic systems, aimed at reducing risks and ensuring certainty for its clients [6]. - The corporate headquarters is located in Nashville, Tennessee, with over 50 global locations across 17 countries [7].