Cryoport Reports First Quarter 2025 Financial Results
Cryoport (NASDAQ: CYRX) reported Q1 2025 revenue of $41.0 million from continuing operations, up 10% year-over-year. The company's commercial Cell & Gene therapy revenue grew 33%, while Life Sciences Services revenue increased 17%. As of March 31, 2025, Cryoport supported 711 global clinical trials, including 79 in Phase 3. The company announced a strategic partnership with DHL, including the planned divestiture of CRYOPDP expected to close in Q2/Q3 2025.
Financial highlights include a gross margin of 45.4%, operating costs reduction of 13.7%, and a net loss of $12.0 million ($0.28 per share). The company maintains $244.0 million in cash and investments. For fiscal 2025, Cryoport reiterates revenue guidance of $165.0-172.0 million, representing 5-10% growth.
Cryoport (NASDAQ: CYRX) ha riportato nel primo trimestre 2025 un fatturato di 41,0 milioni di dollari dalle operazioni continue, con un aumento del 10% rispetto all'anno precedente. Il fatturato commerciale nel settore Cellule e Terapie Geniche è cresciuto del 33%, mentre i ricavi dei Servizi per le Scienze della Vita sono aumentati del 17%. Al 31 marzo 2025, Cryoport supportava 711 sperimentazioni cliniche globali, di cui 79 in Fase 3. L'azienda ha annunciato una partnership strategica con DHL, inclusa la prevista cessione di CRYOPDP, che dovrebbe concludersi nel secondo o terzo trimestre 2025.
I dati finanziari evidenziano un margine lordo del 45,4%, una riduzione dei costi operativi del 13,7% e una perdita netta di 12,0 milioni di dollari (0,28 dollari per azione). L'azienda detiene 244,0 milioni di dollari in liquidità e investimenti. Per l'anno fiscale 2025, Cryoport conferma la previsione di ricavi tra 165,0 e 172,0 milioni di dollari, con una crescita prevista tra il 5 e il 10%.
Cryoport (NASDAQ: CYRX) reportó ingresos en el primer trimestre de 2025 de 41,0 millones de dólares provenientes de operaciones continuas, un aumento del 10% interanual. Los ingresos comerciales en Terapias Celulares y Genéticas crecieron un 33%, mientras que los ingresos por Servicios de Ciencias de la Vida aumentaron un 17%. Al 31 de marzo de 2025, Cryoport apoyaba 711 ensayos clínicos globales, incluyendo 79 en Fase 3. La compañía anunció una asociación estratégica con DHL, que incluye la prevista venta de CRYOPDP, que se espera cierre en el segundo o tercer trimestre de 2025.
Los aspectos financieros destacados incluyen un margen bruto del 45,4%, una reducción de costos operativos del 13,7% y una pérdida neta de 12,0 millones de dólares (0,28 dólares por acción). La empresa mantiene 244,0 millones de dólares en efectivo e inversiones. Para el año fiscal 2025, Cryoport reitera la guía de ingresos entre 165,0 y 172,0 millones de dólares, representando un crecimiento del 5 al 10%.
Cryoport (NASDAQ: CYRX)은 2025년 1분기 지속 영업에서 4,100만 달러의 매출을 기록하며 전년 동기 대비 10% 증가했습니다. 회사의 상업용 세포 및 유전자 치료 매출은 33% 성장했고, 생명과학 서비스 매출은 17% 증가했습니다. 2025년 3월 31일 기준 Cryoport는 전 세계 711건의 임상 시험을 지원했으며, 이 중 79건은 3상 단계에 있습니다. 회사는 DHL과 전략적 파트너십을 발표했으며, CRYOPDP의 매각이 2025년 2분기 또는 3분기에 완료될 예정입니다.
재무 하이라이트로는 45.4%의 총 이익률, 13.7%의 운영 비용 감소, 1,200만 달러(주당 0.28달러)의 순손실이 있습니다. 회사는 2억 4,400만 달러의 현금 및 투자 자산을 보유하고 있습니다. 2025 회계연도에 대해 Cryoport는 1억 6,500만~1억 7,200만 달러의 매출 가이던스를 재확인했으며, 이는 5~10% 성장에 해당합니다.
Cryoport (NASDAQ : CYRX) a annoncé un chiffre d'affaires au premier trimestre 2025 de 41,0 millions de dollars provenant des opérations continues, en hausse de 10 % par rapport à l'année précédente. Le chiffre d'affaires commercial des thérapies cellulaires et géniques a augmenté de 33 %, tandis que les revenus des services en sciences de la vie ont progressé de 17 %. Au 31 mars 2025, Cryoport soutenait 711 essais cliniques mondiaux, dont 79 en phase 3. L'entreprise a annoncé un partenariat stratégique avec DHL, incluant la cession prévue de CRYOPDP, dont la clôture est attendue au deuxième ou troisième trimestre 2025.
Les points financiers clés comprennent une marge brute de 45,4 %, une réduction des coûts d'exploitation de 13,7 % et une perte nette de 12,0 millions de dollars (0,28 dollar par action). L'entreprise dispose de 244,0 millions de dollars en liquidités et investissements. Pour l'exercice 2025, Cryoport réitère ses prévisions de chiffre d'affaires entre 165,0 et 172,0 millions de dollars, représentant une croissance de 5 à 10 %.
Cryoport (NASDAQ: CYRX) meldete für das erste Quartal 2025 einen Umsatz aus fortgeführten Geschäftsbereichen von 41,0 Millionen US-Dollar, was einem Anstieg von 10 % im Jahresvergleich entspricht. Der kommerzielle Umsatz im Bereich Zell- und Gentherapie wuchs um 33 %, während die Erlöse aus Life Sciences Services um 17 % zunahmen. Zum 31. März 2025 unterstützte Cryoport 711 globale klinische Studien, davon 79 in Phase 3. Das Unternehmen kündigte eine strategische Partnerschaft mit DHL an, einschließlich des geplanten Verkaufs von CRYOPDP, der im zweiten oder dritten Quartal 2025 abgeschlossen werden soll.
Finanzielle Highlights umfassen eine Bruttomarge von 45,4 %, eine Reduzierung der Betriebskosten um 13,7 % und einen Nettogewinn von -12,0 Millionen US-Dollar (-0,28 US-Dollar je Aktie). Das Unternehmen hält 244,0 Millionen US-Dollar in bar und Investitionen. Für das Geschäftsjahr 2025 bestätigt Cryoport die Umsatzprognose von 165,0 bis 172,0 Millionen US-Dollar, was einem Wachstum von 5 bis 10 % entspricht.
- Commercial Cell & Gene therapy revenue grew 33% year-over-year
- Total revenue increased 10% to $41.0 million
- Gross margin improved to 45.4% from 40.4% year-over-year
- Operating costs decreased 13.7% year-over-year
- Strong cash position of $244.0 million
- Strategic partnership with DHL expected to enhance operational reach in APAC and EMEA regions
- Net loss of $12.0 million ($0.28 per share) in Q1 2025
- Life Sciences Products segment showed minimal growth of only 2.1%
- Adjusted EBITDA remained negative at -$2.8 million
Insights
Cryoport shows improving financials with 10% revenue growth, strategic DHL partnership, and pathway to positive EBITDA in 2025.
Cryoport delivered $41.0 million in Q1 2025 revenue from continuing operations, representing
The company's margin profile shows substantial improvement. Gross margin increased to
The strategic partnership with DHL, including the planned divestiture of CRYOPDP, represents a pivotal repositioning. Management indicates this transaction will provide a capital infusion while allowing them to sharpen focus on their core regenerative medicine business. This appears strategically sound as their fastest-growing segments are in the regenerative medicine space.
Cryoport's network continues expanding, now supporting 711 global clinical trials (up from 675 year-over-year) and 19 commercial therapies. These metrics serve as leading indicators for future revenue potential, as trials advance toward commercialization and existing commercial products expand their patient reach.
Despite still operating at a loss (net loss of
- Commercial Cell & Gene therapy revenue of
$7.2 million 33% year over year - Q1 2025 revenue from continuing operations of
$41.0 million 10% year over year - Supporting 711 global clinical trials as of March 31, 2025
- Strategic partnership with DHL; CRYOPDP divestiture expected to close Q2/Q3 2025
Jerrell Shelton, CEO of Cryoport, commented, "We delivered a strong start to the year with
"Revenue growth from our support of commercial Cell & Gene therapies was up
"We are also seeing further signs of demand stabilization in our Life Sciences Products business as we continue to expand our product portfolio to capture new revenue streams with innovative products such as the recently launched cryogenic storage system, MVE High-Efficiency 800C. The HE 800C, released in the first quarter of 2025 by MVE, meets the needs of facilities that have limited space yet require high capacity and security.
"Another key milestone this quarter was the announcement of our strategic partnership with the DHL Group, which includes DHL's anticipated acquisition of CRYOPDP, expected to close in the second or third quarter of this year. We believe this arrangement will enhance our operational reach, especially in the APAC and EMEA regions, and reshape our competitive profile within the industry by leveraging the global scale and capabilities of our strategic partner. The disposition of CRYOPDP is in response to the evolution of our industry and the ecosystem that is supporting it. The disposition will also provide us with a strong infusion of capital, represented by a substantial return on investment. Strategically, our partnership with DHL enables us to sharpen our organizational focus with the core of our services offerings directed towards the rapidly growing regenerative medicine space.
"In summary, we made meaningful progress in the first quarter, advancing revenue growth, operational efficiency, and entering into a strategic partnership with DHL. We believe this positions us well to accelerate our growth and we remain focused on supporting the increasing number of commercial regenerative medicine products and their rollouts around the world. In addition, we are also advancing other key initiatives such as our IntegriCell™ Cryopreservation Solution, completing our Global Supply Chain Centers, and introducing new innovative products to better serve our clients and diversifying our revenue streams. We remain confident these actions and our momentum will lead us to a return to positive adjusted EBITDA during 2025," concluded Mr. Shelton.
In tabular form, Q1 2025 revenue from continuing operations compared to Q1 2024 was as follows:
Cryoport, Inc. and Subsidiaries | |||
Revenue | |||
(unaudited) | |||
Three Months Ended | |||
(in thousands) | 2025 | 2024 | % Change |
Life Sciences Services | $ 22,865 | $ 19,485 | 17 % |
BioLogistics Solutions | 18,531 | 15,957 | 16 % |
BioStorage/BioServices | 4,334 | 3,528 | 23 % |
Life Sciences Products | $ 18,175 | $ 17,806 | 2 % |
Total Revenue From Continuing Operations | $ 41,040 | $ 37,291 | 10 % |
BioStorage/BioServices revenue continued to grow double digits year-over-year, increasing
Revenue from the support of commercial Cell & Gene therapies increased
As of March 31, 2025, Cryoport supported a total of 711 global clinical trials, a net increase of 36 clinical trials over March 31, 2024, with 79 of these clinical trials in Phase 3. The number of trials by phase and region are as follows:
Cryoport Supported Clinical Trials by Phase | |||
Clinical Trials | March 31, | ||
2023 | 2024 | 2025 | |
Phase 1 | 269 | 286 | 304 |
Phase 2 | 301 | 312 | 328 |
Phase 3 | 82 | 77 | 79 |
Total | 652 | 675 | 711 |
Cryoport Supported Clinical Trials by Region | |||
Clinical Trials | March 31, | ||
2023 | 2024 | 2025 | |
502 | 518 | 544 | |
EMEA | 108 | 112 | 118 |
APAC | 42 | 45 | 49 |
Total | 652 | 675 | 711 |
In the first quarter, six BLA/MAA filings occurred: three filings were for brand new therapies and three filings were for geographic expansion. Additionally, Bristol Myers received a supplemental approval from the European Commission to expand the label of BreyanziÒ as a third line treatment for relapsed or refractory follicular lymphoma. Recently and subsequent to the end of Q1 2025, Cryoport's customer Abeona Therapeutics received
Financial Highlights
The results of CRYOPDP, a specialty courier business and operating segment within Cryoport's Life Sciences Services reportable segment are presented as discontinued operations for all periods presented within the Condensed Statements of Operations and Condensed Consolidated Balance Sheets included in this press release, and are also not included in the non-GAAP financial measures presented herein. On March 31, 2025 the Company entered into a Sale and Purchase Agreement with DHL Supply Chain International Holding B.V. ("DHL"), pursuant to which the Company would divest CRYOPDP and enter into a master partnership agreement with DHL. The divestiture and strategic partnership with DHL are expected to enhance the Company's ability to develop its business, particularly in the EMEA and APAC regions, and to provide differentiated and high-value services aligned with the Company's long-term growth strategy. The transaction is subject to customary closing conditions, including regulatory approval under relevant government antitrust and foreign direct investment laws, and is expected to close in the second or third quarter of 2025.
Revenue
- Total revenue from continuing operations for Q1 2025 was
$41.0 million $37.3 million 10.1% or$3.7 million - Life Sciences Services revenue (representing
56% of our total revenue) for Q1 2025 was$22.9 million $19.5 million 17.3% year-over-year, including BioStorage/BioServices revenue of$4.3 million 22.8% year-over-year. - Life Sciences Products revenue (representing
44% of our total revenue) for Q1 2025 was$18.2 million $17.8 million 2.1% year-over-year.
- Life Sciences Services revenue (representing
Gross Margin
- Total gross margin from continuing operations was
45.4% for Q1 2025 compared to40.4% for Q1 2024.- Gross margin for Life Sciences Services was
47.9% for Q1 2025 compared to43.5% for Q1 2024. - Gross margin for Life Sciences Products was
42.3% for Q1 2025 compared to37.0% for Q1 2024.
- Gross margin for Life Sciences Services was
Operating Costs and Expenses
- Operating costs and expenses from continuing operations were
$28.1 million $32.6 million 13.7% decrease year-over-year.
Net Loss – including Discontinued Operations
- Net loss for Q1 2025 was
$12.0 million $18.9 million - Net loss attributable to common stockholders was
$14.0 million $0.28 $20.9 million $0.43
Adjusted EBITDA
- Adjusted EBITDA, a non-GAAP measure, was a negative
$2.8 million $6.7 million
Cash, Cash equivalents, and Short-Term Investments
- Cryoport held
$244.0 million
Share Repurchase Program
- The Company has approximately
$73.9 million
Guidance for Continuing Operations for Full Year Fiscal 2025
- The Company is reiterating its revenue guidance for fiscal year 2025: total organic revenue is expected to be in the range of
$165.0 million $172.0 million 5% to10% growth year-over-year. The Company's 2025 guidance is dependent on its current business and expectations, which may be further impacted by, among other things, factors that are outside of our control, such as national economic factors, the global macroeconomic and geopolitical environment, supply chain constraints, inflationary pressures, tariffs and other trade restrictions and/or the effects of foreign currency fluctuations, as well as the other factors described in the Company's filings with the Securities and Exchange Commission ("SEC"), including in the "Risk Factors" section of its most recently filed periodic reports on Form 10-K and Form 10-Q, as well as in its subsequent filings with the SEC.
Note: All reconciliations of GAAP to adjusted (non-GAAP) figures above are detailed in the reconciliation tables included later in the press release.
Additional Information
Further information on Cryoport's financial results is included in the attached condensed consolidated balance sheets and statements of operations, and additional explanations of Cryoport's financial performance are provided in the Company's Quarterly Report on Form 10-Q for the three months ended March 31, 2025, which is expected to be filed with the SEC on May 7, 2025. Additionally, the full report will be available in the SEC Filings section of the Investor Relations section of Cryoport's website at www.cryoportinc.com.
Earnings Conference Call Information
IMPORTANT INFORMATION: In addition to the earnings release, a document titled "Cryoport First Quarter 2025 in Review", providing a review of Cryoport's business update, will be issued at 4:05 p.m. ET on Wednesday, May 7, 2025. The document is designed to be read in advance of the questions and answers conference call and will be accessible at https://ir.cryoportinc.com/news-events/ir-calendar.
Cryoport management will host a conference call at 5:00 p.m. ET on May 7, 2025. The conference call will be in the format of a questions and answers session and will address any queries investors have regarding the Company's reported results. A slide deck will accompany the call.
Conference Call Information
Date: | Wednesday, May 7, 2025 |
Time: | 5:00 p.m. ET |
Dial-in numbers: | 1-800-717-1738 ( |
Confirmation code: | Request the "Cryoport Call" or Conference ID: 1180684 |
Live webcast: | 'Investor Relations' section at www.cryoportinc.com or click here.
Please allow 10 minutes prior to the call to visit this site to download and install |
The questions and answers call will be recorded and available approximately three hours after completion of the live event in the Investor Relations section of the Company's website at www.cryoportinc.com for a limited time. To access the replay of the questions and answers click here. A dial-in replay of the call will also be available to those interested, until May 14, 2025. To access the replay, dial 1-844-512-2921 (
About Cryoport, Inc.
Cryoport, Inc. (Nasdaq: CYRX), is a global leader in temperature-controlled supply chain solutions for the Life Sciences, with an emphasis on regenerative medicine. We support biopharmaceutical companies, contract manufacturers (CDMOs), contract research organizations (CROs), developers, and researchers with a comprehensive suite of services and products designed to minimize risk and maximize reliability across the temperature-controlled supply chain for the Life Sciences. Our integrated supply chain platform includes the Cryoportal® Logistics Management Platform, advanced temperature-controlled packaging, informatics, specialized biologistics, biostorage, bioservices, and cryogenic systems, which in varying combinations deliver end-to-end solutions that meet the rigorous demands of the life sciences. With innovation, regulatory compliance, and agility at our core, we are "Enabling the Future of Medicine™."
Our corporate headquarters, located in
For more information, visit www.cryoportinc.com or follow via LinkedIn at https://www.linkedin.com/company/cryoportinc or @cryoport on X, formerly known as Twitter at https://x.com/cryoport for live updates.
Forward-Looking Statements
Statements in this press release which are not purely historical, including statements regarding the Company'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 the Company's industry, business, long-term growth prospects, plans, strategies, acquisitions, future financial results and financial condition, such as the Company's outlook and guidance for full year 2025 revenue and the related assumptions and factors expected to drive revenue, projected growth trends in the markets in which the Company operates, the Company's plans and expectations regarding the launch of new products and services, such as the expected timing and benefits of such products and services launches, the Company's expectations about future benefits of its acquisitions, and anticipated regulatory filings, approvals, label/geographic expansions or moves to earlier lines of treatment approved with respect to the products of the Company's clients. Forward-looking statements also include those related to the Company's belief regarding the stabilization of order patterns in its Life Sciences Products segment, the Company's anticipation of minimal impact from tariffs as it believes related charges will be passed through if and when they occur, the Company's expectation that development and commercialization of Cell & Gene-based therapies will continue to increase, the Company's belief that it is positioned well to accelerate its growth, the Company's belief regarding a return to positive adjusted EBITDA during 2025, and the Company's beliefs and expectations related to the transaction with DHL, including the anticipated disposition of CRYOPDP (the "DHL Transaction"), such as the expected timetable for closing the DHL Transaction, including the satisfaction or waiver of closing conditions, and the expected benefits relating to the DHL Transaction. It is important to note that the Company's actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties associated with the effect of changing economic and geopolitical conditions, supply chain constraints, inflationary pressures, tariffs and other trade restrictions, the effects of foreign currency fluctuations, trends in the products markets, variations in the Company's cash flow, market acceptance risks, and technical development risks. Additional risks and uncertainties relating to the DHL Transaction include, but are not limited to, whether all conditions precedent to the closing of the DHL Transaction will be satisfied in a timely manner or at all, including regulatory approval under relevant government antitrust and foreign direct investment laws, our ability to retain and hire key personnel, the risk that disruption resulting from the DHL Transaction may adversely affect our businesses and business relationships, including with employees and suppliers, or delays in satisfying other closing conditions and disruptions in the global credit and financial markets that could have a negative impact on the completion of the DHL Transaction. The Company's business could be affected by other factors discussed in the Company's SEC reports, including in the "Risk Factors" section of its most recently filed periodic reports on Form 10-K and Form 10-Q, as well as in its subsequent filings with the SEC. The forward-looking statements contained in this press release speak only as of the date hereof and the Company cautions investors not to place undue reliance on these forward-looking statements. Except as required by law, the Company disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.
Cryoport, Inc. and Subsidiaries | ||
Condensed Consolidated Statements of Operations | ||
Three Months Ended | ||
(in thousands, except share and per share data) | 2025 | 2024 |
Revenue | ||
Life Sciences Services revenue | $ 22,865 | $ 19,485 |
Life Sciences Products revenue | 18,175 | 17,806 |
Total revenue | 41,040 | 37,291 |
Cost of revenue: | ||
Cost of services revenue | 11,920 | 11,011 |
Cost of products revenue | 10,479 | 11,215 |
Total cost of revenue | 22,399 | 22,226 |
Gross margin | 18,641 | 15,065 |
Operating costs and expenses: | ||
Selling, general and administrative | 24,191 | 27,821 |
Engineering and development | 3,934 | 4,752 |
Total operating costs and expenses: | 28,125 | 32,573 |
Loss from operations | (9,484) | (17,508) |
Other income (expense): | ||
Investment income | 1,573 | 2,600 |
Interest expense | (583) | (1,275) |
Other income (expense), net | (300) | 1,259 |
Loss before provision for income taxes | (8,794) | (14,924) |
Provision for income taxes | (234) | (111) |
Loss from continuing operations | $ (9,028) | $ (15,035) |
Loss from discontinued operations, net | (2,953) | (3,860) |
Net loss | $ (11,981) | $ (18,895) |
Paid-in-kind dividend on Series C convertible preferred stock | (2,000) | (2,000) |
Net loss attributable to common stockholders | $ (13,981) | $ (20,895) |
Net loss per share attributable to common stockholders - basic and diluted | $ (0.28) | $ (0.43) |
Weighted average common shares outstanding - basic and diluted | 49,947,012 | 49,019,964 |
Cryoport, Inc. and Subsidiaries | ||
Condensed Consolidated Balance Sheets | ||
March 31, | December 31, | |
2025 | 2024 | |
(in thousands) | ||
Current assets | ||
Cash and cash equivalents | $ 36,102 | $ 34,137 |
Short-term investments | 207,929 | 216,460 |
Accounts receivable, net | 28,371 | 25,304 |
Inventories | 23,340 | 21,476 |
Prepaid expenses and other current assets | 7,444 | 7,944 |
Current assets held for sale | 108,090 | 36,251 |
Total current assets | 411,276 | 341,572 |
Property and equipment, net | 80,481 | 80,013 |
Operating lease right-of-use assets | 39,102 | 39,920 |
Intangible assets, net | 145,414 | 147,927 |
Goodwill | 20,960 | 20,569 |
Deposits | 1,997 | 1,951 |
Deferred tax assets | 614 | 842 |
Long-term assets held for sale | - | 70,699 |
Total assets | $ 699,844 | $ 703,493 |
Current liabilities | ||
Accounts payable and other accrued expenses | $ 13,442 | $ 15,895 |
Accrued compensation and related expenses | 12,681 | 11,209 |
Deferred revenue | 1,774 | 1,061 |
Current portion of operating lease liabilities | 3,661 | 3,399 |
Current portion of finance lease liabilities | 340 | 315 |
Current portion of convertible senior notes, net | 14,326 | 14,298 |
Current portion of notes payable | 149 | 143 |
Current portion of contingent consideration | - | 2,808 |
Current liabilities held for sale | 27,657 | 15,435 |
Total current liabilities | 74,030 | 64,563 |
Convertible senior notes, net | 184,211 | 183,919 |
Notes payable, net | 1,122 | 1,114 |
Operating lease liabilities, net | 38,101 | 38,551 |
Finance lease liabilities, net | 758 | 800 |
Deferred tax liabilities | 878 | 804 |
Other long-term liabilities | 1,353 | 296 |
Contingent consideration, net | 580 | 3,751 |
Long-term liabilities held for sale | - | 7,797 |
Total liabilities | 301,033 | 301,595 |
Total stockholders' equity | 398,811 | 401,898 |
Total liabilities and stockholders' equity | $ 699,844 | $ 703,493 |
Note Regarding Use of Non-GAAP Financial Measures
To supplement our financial statements, which are presented on the basis of
We believe that revenue growth is a key indicator of how Cryoport is progressing from period to period and we believe that the non-GAAP financial measures, revenue at constant currency and revenue growth rate at constant currency, are useful to investors in analyzing the underlying trends in revenue. Under GAAP, revenue from continuing operations received in local (non-
However, we also believe that data on constant currency period-over-period changes have limitations, particularly as the currency effects that are eliminated could constitute a significant element of our revenue and could significantly impact our performance. We therefore limit our use of constant currency period-over-period changes to a measure for the impact of currency fluctuations on the translation of local currency revenue into
Adjusted EBITDA is defined as net loss adjusted for loss from discontinued operations, net interest expense, income taxes, depreciation and amortization expense, stock-based compensation expense, acquisition and integration costs, cost reduction initiatives, investment income, unrealized (gain)/loss on investments, foreign currency (gain)/loss, changes in fair value of contingent consideration and charges or gains resulting from non-recurring events, as applicable.
Management believes that adjusted EBITDA provides a useful measure of Cryoport's operating results, a meaningful comparison with historical results and with the results of other companies, and insight into Cryoport's ongoing operating performance. Further, management and the Company's board of directors utilize adjusted EBITDA to gain a better understanding of Cryoport's comparative operating performance from period to period and as a basis for planning and forecasting future periods. Adjusted EBITDA is also a significant performance measure used by Cryoport in connection with its incentive compensation programs. Management believes adjusted EBITDA, when read in conjunction with Cryoport's GAAP financials, is useful to investors because it provides a basis for meaningful period-to-period comparisons of Cryoport's ongoing operating results, including results of operations, against investor and analyst financial models, helps identify trends in Cryoport's underlying business and in performing related trend analyses, and it provides a better understanding of how management plans and measures Cryoport's underlying business.
Cryoport, Inc. and Subsidiaries | ||
Reconciliation of GAAP net income (loss) to adjusted EBITDA | ||
(unaudited) | ||
Three Months Ended | ||
2025 | 2024 | |
(in thousands) | ||
GAAP loss from continuing operations | $ (9,028) | $ (15,035) |
Non-GAAP adjustments to loss: | ||
Depreciation and amortization expense | 6,134 | 5,747 |
Acquisition and integration costs | 1 | 60 |
Divestiture costs | 2,290 | — |
Cost reduction initiatives | 216 | — |
Investment income | (1,573) | (2,600) |
Unrealized (gain)/loss on investments | 193 | (1,737) |
Foreign currency loss | 245 | 563 |
Interest expense, net | 583 | 1,275 |
Stock-based compensation expense | 3,064 | 4,666 |
Change in fair value of contingent consideration | (5,178) | 293 |
Income taxes | 234 | 111 |
Adjusted EBITDA from continuing operations | $ (2,819) | $ (6,657) |
Cryoport, Inc. and Subsidiaries | |||
Total revenue by type for the three months ended March 31, 2025 | |||
(unaudited) | |||
Life Sciences | Life Sciences | Total | |
(in thousands) | |||
As Reported | $ 22,865 | $ 18,175 | $ 41,040 |
Non US-GAAP Constant Currency | 22,994 | 18,340 | 41,334 |
FX Impact [$] | (129) | (165) | (294) |
FX Impact [%] | (0.6 %) | (0.9 %) | (0.7 %) |
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SOURCE Cryoport, Inc.
FAQ
What was Cryoport's (CYRX) revenue growth in Q1 2025?
How many clinical trials does Cryoport (CYRX) support as of Q1 2025?
What is the status of Cryoport's (CYRX) partnership with DHL?
What is Cryoport's (CYRX) revenue guidance for 2025?
What was Cryoport's (CYRX) cash position in Q1 2025?
