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Cryoport(CYRX) - 2024 Q3 - Quarterly Results
2024-11-07 21:31
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 ...
Cryoport Reports Third Quarter 2024 Financial Results
Prnewswire· 2024-11-07 21:05
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]
Cryoport to Report Third Quarter 2024 Financial Results on November 7, 2024
Prnewswire· 2024-10-29 12:30
NASHVILLE, Tenn., Oct. 29, 2024 /PRNewswire/ -- Cryoport, Inc. (Nasdaq: CYRX) ("Cryoport" or the "Company"), a global leader in supply chain solutions for the life sciences industry, today announced that the Company will report financial results for the third quarter ended September 30, 2024 on Thursday, November 7, 2024 after U.S. markets close.In addition to the earnings release, a document titled "Cryoport Third Quarter 2024 in Review", providing a review of Cryoport's financial and operational performan ...
Cryoport and Gulf Coast Regional Blood Center Launch Strategic Alliance to Enhance Cellular Therapy Services
Prnewswire· 2024-10-22 12:30
Partnership Coincides with the Grand Opening of Cryoport's State-Of-The-Art IntegriCell™ Houston FacilityNASHVILLE, Tenn. and HOUSTON, Oct. 22, 2024 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport"), a global leader in supply chain solutions for the life sciences industry, and Gulf Coast Regional Blood Center ("GCRBC"), a non-profit community blood center serving more than 26 counties throughout the state of Texas, today announced a strategic alliance to enhance the availability of high-quality, ma ...
TMRW Life Sciences and Cryoport Systems Form Strategic Partnership to Elevate Standards for Frozen Egg, Embryo, and Sperm Offsite Storage and Biologistics
Prnewswire· 2024-10-21 12:30
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 ...
VGXI Selects Cryoport for Biostorage, Bioservices and Supply Chain Solutions to Advance Next-Generation Therapies
Prnewswire· 2024-10-15 12:30
Partnership Will Enhance Support for Biopharmaceutical Companies in Developing Cell and Gene Therapies and mRNA-Based Treatments NASHVILLE, Tenn. and CONROE, Texas, Oct. 15, 2024 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport"), a global leader in supply chain solutions for the life sciences, and VGXI, Inc., (VXGI) a subsidiary of GeneOne Life Science Inc. ("GeneOne" KOSPI: 011000) today announced a strategic partnership to support biopharmaceutical companies in developing cell and gene therapies ...
Cryoport Launches its IntegriCell™ Cryopreservation Solution with Opening of New Facility at its Houston Campus
Prnewswire· 2024-10-07 12:30
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 ...
SK pharmteco and Cryoport Partner for Cell and Gene Therapy Logistics and BioServices
Prnewswire· 2024-09-25 12:30
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 ...
Cryoport(CYRX) - 2024 Q2 - Quarterly Report
2024-08-08 18:55
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 ...
Cryoport(CYRX) - 2024 Q2 - Earnings Call Transcript
2024-08-07 01:01
Cryoport, Inc. (NASDAQ:CYRX) Q2 2024 Results Conference Call August 6, 2024 5:00 PM ET Company Participants Todd Fromer - Investor Relations-KCSA Strategic Communications Jerrell Shelton - Chief Executive Officer Mark Sawicki - Chief Scientific Officer Robert Stefanovich - Chief Financial Officer Conference Call Participants Paul Knight - KeyBanc David Larsen - BTIG Philip Song - Leerink Partners Matt Stanton - Jefferies Yuan Zhi - B. Riley David Saxon - Needham Operator [Abrupt Start] Cryoport Second Quart ...