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].

Core Insights - Cryoport, Inc. has formed a strategic alliance with Gulf Coast Regional Blood Center to enhance the availability of cryopreserved allogeneic leukopaks for cellular therapy research and treatment [1][2] - The partnership coincides with the opening of Cryoport's new IntegriCell™ facility in Houston, Texas, which is designed to support the life sciences community [1][2] Company Overview - Cryoport, Inc. is a global leader in supply chain solutions for the life sciences, focusing on cell and gene therapies, providing a range of services including temperature-controlled packaging and bio-logistics [3][4] - Gulf Coast Regional Blood Center is one of the largest community blood centers in the U.S., serving 170 hospitals and conducting over 7,000 mobile blood drives annually [5] Partnership Details - The collaboration integrates GCRBC's Cellular Life Solutions program with Cryoport's cryopreservation expertise, creating a unified service offering for the life sciences sector [2] - The proximity of GCRBC's CLS program to Cryoport's facility allows for efficient local transport of leukopaks, enhancing the quality and consistency of cellular therapy products [2] Strategic Importance - This partnership aims to accelerate the development of life-saving treatments by providing a streamlined process for cellular therapy products [2] - The alliance is expected to expand Cryoport's reach and impact in the cryopreservation services market, addressing industry challenges in the delivery of critical cellular materials [2]

Two ISO-Certified Industry Leaders Collaborate to Provide Fertility Clinics with Complete, Trusted Solutions for Secure IVF Specimen Management and Transport NASHVILLE, Tenn. and NEW YORK, Oct. 21, 2024 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport"), a global leader in supply chain solutions for the life sciences industry, and TMRW Life Sciences ("TMRW"), a fertility technology company offering the highest standard of care in offsite storage for frozen eggs, embryos and sperm in the U.S. with th ...

Core Viewpoint - Cryoport, Inc. and VGXI, Inc. have formed a strategic partnership to enhance support for biopharmaceutical companies in the development of cell and gene therapies, as well as mRNA-based treatments [1][2][3] Group 1: Partnership Details - The partnership will leverage VGXI's expertise in plasmid DNA manufacturing and Cryoport's supply chain solutions, including biostorage and bioservices from Cryoport's Houston facility [2][3] - Operations for the partnership are set to commence in October 2024, providing comprehensive support for clinical programs [2][3] Group 2: Company Profiles - Cryoport, Inc. is a global leader in supply chain solutions for life sciences, focusing on cell and gene therapies, with over 50 global locations in 17 countries [4][5] - VGXI, Inc. specializes in nucleic acid biopharmaceuticals, including gene therapies and DNA vaccines, with over 20 years of experience in high-quality plasmid DNA production [6] Group 3: Leadership Insights - Jerrell Shelton, CEO of Cryoport, emphasized the partnership's commitment to quality and innovation, aiming to support the development of next-generation therapeutic modalities [3] - Young Park, CEO of VGXI, highlighted the importance of Cryoport as a trusted partner to ensure safe and secure storage and transport of biopharmaceutical assets [3]

The IntegriCell Platform Will Deliver High-Quality Cryopreservation Services for Cell-Based Therapies NASHVILLE, Tenn., Oct. 7, 2024 /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 its IntegriCell™ cryopreservation services solution provided by Cryoport Systems with the opening of its new facility located at Cryoport's integrated supply chain campus in Houston, Texas. This new state-of ...

NASHVILLE, Tenn. and RANCHO CORDOVA, Calif., Sept. 25, 2024 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport"), a global leader in supply chain solutions for the life sciences industry, and SK pharmteco, a global contract development and manufacturing organization, today announced a strategic collaboration to provide fully integrated logistics and manufacturing services to biotechnology and pharmaceutical companies. Cryoport, with its ability to provide end-to-end cell and gene therapy support servi ...

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 June 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 CRYOPORT, I ...

Financial Data and Key Metrics Changes - Revenue from commercial cell and gene therapies increased by 51% year-over-year and 20% sequentially, reflecting strong demand for these treatments [5][11] - Full year 2024 revenue guidance revised to a range of $225 million to $235 million, indicating a sequential improvement expected over the next two quarters [7][8] - Company ended the quarter with a cash balance of $427 million and anticipates positive cash flow through ongoing cost reduction initiatives [10][11] Business Line Data and Key Metrics Changes - MVE Biological Solutions experienced modest sequential improvement, but overall product demand remains lower compared to previous years, with expectations of continued softness extending into 2025 [5][6] - Life sciences services are expected to see sequential growth, driven by the ramp of clinical and commercial cell and gene therapies [11][14] Market Data and Key Metrics Changes - The company anticipates a broad market recovery for the life sciences industry, with the exception of China, which is expected to remain challenged through 2025 [11][30] - Revenue related to China is minimal, accounting for just above 3% of total revenue [31] Company Strategy and Development Direction - The company is implementing cost reduction and capital realignment measures to align with current market conditions, aiming for profitability and a return to positive adjusted EBITDA in 2025 [8][9] - Focus on maintaining a strong balance sheet while optimizing operational efficiencies across global operations [10][11] Management's Comments on Operating Environment and Future Outlook - Management remains confident in the long-term growth of the life sciences sector, supported by improved biotech funding and new therapy approvals [11][12] - The company is proactively taking measures to ensure financial stability and support growth initiatives despite short-term challenges [11][64] Other Important Information - The company has executed strong cost management across manufacturing facilities and reduced SG&A expenses to ensure positive cash flow contribution [6][9] - Anticipated annualized cost savings of approximately $22 million expected to positively impact financial results in the second half of 2024 [8][44] Q&A Session Summary Question: Impact of guidance reduction on revenue - Management indicated that the reduction in guidance was primarily driven by lower demand for MVE products, with expectations for sequential growth starting in 2025 [13][14] Question: Confidence in second half revenue growth - Management expressed confidence in the services side, particularly in cell and gene therapy, with a record number of clinical trials indicating robust growth expectations [16][17] Question: Status of IntegriCell facilities - Both IntegriCell facilities are on track to open for contract business by the end of the quarter, contributing nominal revenue in 2024 [18][19] Question: Factors behind MVE's tough performance - Management noted that excess capacity built during the COVID period and changes in capital expenditure behavior have impacted MVE's performance [20][21] Question: Trends in IVF and fertility clinics - The company has seen consistent improvement in volumes associated with reproductive medicine, driven by established relationships with large clinic networks [48][49]

Summary of CryoPort, Inc. (CYRX) Earnings Report Core Viewpoint CryoPort, Inc. reported a quarterly loss of $0.33 per share, which was better than the Zacks Consensus Estimate of a loss of $0.37, indicating a positive earnings surprise of 10.81% [1]. However, the company has struggled with revenue performance and stock price, underperforming the market significantly this year. Financial Performance - The company posted revenues of $57.6 million for the quarter ended June 2024, slightly missing the Zacks Consensus Estimate by 0.33% and showing a year-over-year increase from $57.02 million [2]. - Over the last four quarters, CryoPort has surpassed consensus EPS estimates only once [2]. - The current consensus EPS estimate for the upcoming quarter is -$0.30 on revenues of $62.29 million, and for the current fiscal year, it is -$1.33 on revenues of $239.63 million [7]. Stock Performance - CryoPort shares have declined approximately 51.7% since the beginning of the year, contrasting with the S&P 500's gain of 8.7% [3]. - The stock currently holds a Zacks Rank of 3 (Hold), indicating it is expected to perform in line with the market in the near future [6]. Industry Context - CryoPort operates within the Zacks Transportation - Services industry, which is currently ranked in the bottom 27% of over 250 Zacks industries [8]. - The performance of CryoPort's stock may be influenced by the overall outlook for the industry, as historical data shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8].