Cryoport Reports Third Quarter 2025 Financial Results
Cryoport (NASDAQ: CYRX) reported Q3 2025 revenue of $44.2M, up 15% year‑over‑year, and raised full‑year continuing operations revenue guidance to $170.0–$174.0M. Commercial cell & gene therapy revenue grew 36% to $8.3M; Life Sciences Services revenue rose 16% and Life Sciences Products revenue rose 15% in Q3. Gross margin improved to 48.2% in Q3. Adjusted EBITDA from continuing operations narrowed to a $0.6M loss in Q3. Cryoport held $421.3M cash and completed share repurchases of 483,397 shares for $3.7M. The company noted strategic moves including a new Paris Global Supply Chain Center, MVE product launches, and a DHL partnership.
Cryoport (NASDAQ: CYRX) ha riportato ricavi del terzo trimestre 2025 pari a $44.2M, in aumento del 15% rispetto all'anno precedente, e ha alzato le previsioni annuali dei ricavi da operazioni continue a $170.0–$174.0M. I ricavi da terapie cellulari e geniche commerciali sono cresciuti del 36% a $8.3M; i ricavi dei Life Sciences Services sono saliti del 16% e i ricavi dei Life Sciences Products sono aumentati del 15% nel Q3. Il margine lordo è migliorato al 48.2% nel Q3. L'EBITDA rettificato da operazioni continue è diminuito a una perdita di $0.6M nel trimestre. Cryoport contava $421.3M di cassa e ha completato i riacquisti di azioni per 483.397 azioni per $3.7M. L'azienda ha segnalato mosse strategiche tra cui un nuovo Global Supply Chain Center a Parigi, lanci di prodotti MVE e una partnership con DHL.
Cryoport (NASDAQ: CYRX) informó ingresos del 3T 2025 de $44.2M, un 15% más año tras año, y elevó las previsiones de ingresos para el año completo de operaciones continuas a $170.0–$174.0M. Los ingresos de terapias celulares y génicas comerciales crecieron un 36% hasta $8.3M; los ingresos de Life Sciences Services subieron un 16% y Life Sciences Products subieron 15% en el 3T. El margen bruto mejoró al 48.2% en el 3T. El EBITDA ajustado de las operaciones continuas se redujo a una pérdida de $0.6M en el 3T. Cryoport contaba con $421.3M en efectivo y completó recompras de 483,397 acciones por $3.7M. La empresa señaló movimientos estratégicos, como un nuevo Global Supply Chain Center en París, lanzamientos de productos MVE y una asociación con DHL.
Cryoport (NASDAQ: CYRX)가 2025년 3분기 매출 $44.2M를 보고했으며 전년 동기 대비 15% 증가했고, 계속 영업 매출 가이던스를 $170.0–$174.0M으로 상향했습니다. 상업용 세포 및 유전자 치료 매출은 36% 증가하여 $8.3M에 이르렀고; Life Sciences Services 매출은 16% 상승, Life Sciences Products 매출은 3분기에 15% 증가했습니다. 3분기 총이익률은 48.2%로 개선되었습니다. 계속 영업에서의 조정 EBITDA는 3분기에 $0.6M 손실로 축소되었습니다. Cryoport는 현금 $421.3M를 보유하고 있으며 483,397주를 $3.7M에 재매입했습니다. 회사는 파리의 새로운 Global Supply Chain Center, MVE 제품 출시, DHL 파트너십 등 전략적 움직임을 언급했습니다.
Cryoport (NASDAQ: CYRX) a annoncé un chiffre d'affaires du 3e trimestre 2025 de $44.2M, en hausse de 15% sur un an, et a relevé les prévisions de chiffre d'affaires annuels des activités opérationnelles continues à $170.0–$174.0M. Les revenus des thérapies cellulaires et géniques commerciales ont augmenté de 36% pour atteindre $8.3M; les revenus Life Sciences Services ont augmenté de 16% et les revenus Life Sciences Products ont progressé de 15% au T3. La marge brute s'est améliorée à 48.2% au T3. L'EBITDA ajusté des activités continues s'est réduit à une perte de $0.6M au T3. Cryoport disposait de $421.3M de liquidités et a mené des rachats d'actions de 483 397 actions pour $3.7M. L'entreprise a évoqué des évolutions stratégiques, dont un nouveau Global Supply Chain Center à Paris, des lancements de produits MVE et un partenariat avec DHL.
Cryoport (NASDAQ: CYRX) meldete für das Q3 2025 einen Umsatz von $44.2M, ein Anstieg von 15% gegenüber dem Vorjahr, und hob die Umsatzprognose für das Gesamtjahr der fortgeführten Geschäftsaktivitäten auf $170.0–$174.0M an. Der Umsatz aus kommerziellen Zell- & Gentherapie-Aktivitäten wuchs um 36% auf $8.3M; der Umsatz aus Life Sciences Services stieg um 16% und der Umsatz aus Life Sciences Products stieg im Q3 um 15%. Die Bruttomarge verbesserte sich im Q3 auf 48.2%. Das bereinigte EBITDA aus fortgeführten Aktivitäten verringerte sich im Q3 auf einen Verlust von $0.6M. Cryoport verfügte über $421.3M an Bargeld und hat den Rückkauf von 483.397 Aktien für $3.7M abgeschlossen. Das Unternehmen verwies auf strategische Schritte, darunter ein neues Global Supply Chain Center in Paris, Veröffentlichungen von MVE-Produkten und eine DHL-Partnerschaft.
Cryoport (NASDAQ: CYRX) أبلغت عن إيرادات الربع الثالث 2025 بقيمة $44.2M، بزيادة 15% على أساس سنوي، ورفعت توجيهات الإيرادات للسنة كاملة من عمليات مستمرة إلى $170.0–$174.0M. ارتفعت إيرادات العلاجات الخلوية والجينية التجارية بنسبة 36% لتصل إلى $8.3M؛ وارتفعت إيرادات خدمات العلوم الحياتية بنسبة 16% وارتفعت إيرادات منتجات العلوم الحياتية بنسبة 15% في الربع الثالث. تحسن الهامش الإجمالي إلى 48.2% في الربع الثالث. تقلص EBITDA المعدلة من العمليات المستمرة إلى خسارة قدرها $0.6M في الربع الثالث. بلغت لدى Cryoport نقداً قدره $421.3M وأتمت إعادة شراء أسهم لـ 483,397 سهماً بقيمة $3.7M. أشارت الشركة إلى تحركات استراتيجية بما في ذلك مركز سلسلة الإمداد العالمي الجديد في باريس، وإطلاقات منتجات MVE، وشراكة مع DHL.
- Total revenue +15% YoY to $44.2M in Q3 2025
- Commercial cell & gene revenue +36% YoY to $8.3M
- Gross margin improved to 48.2% in Q3 2025
- Raised FY2025 continuing operations guidance to $170.0–$174.0M
- Cash, cash equivalents, and short‑term investments of $421.3M
- Q3 2025 net loss of $6.9M
- Adjusted EBITDA still negative at $0.6M loss in Q3 2025
- 9M 2025 net income driven by one‑time CRYOPDP sale of $115.4M
- Guidance exposed to U.S. federal government shutdown and macro risks
Insights
Cryoport shows broad revenue growth, margin expansion, stronger cash and raised 2025 guidance, signaling improving operational performance.
Cryoport reported Q3 revenue of
These facts describe a company moving toward profitability while investing in growth: improved margins, narrower adjusted EBITDA losses, significant cash and equivalents of
-
Third quarter revenue increased
15% year-over-year to$44.2 million -
Commercial Cell & Gene Therapy revenue increased
36% year-over-year to$8.3 million -
Life Sciences Services revenue grew
16% year-over-year, including a21% rise in BioStorage/BioServices revenue -
Life Sciences Products revenue grew
15% year-over-year -
Company updates full year 2025 revenue guidance of
$170 $174 million
Jerrell Shelton, CEO of Cryoport, commented, "Q3 was another outstanding quarter for Cryoport with
"We also executed on key strategic and operational initiatives during the quarter. MVE Biological Solutions launched its next-generation SC 4/2V and SC 4/3V dry vapor shippers equipped with integrated Condition Monitoring Solutions for these dewars, combining its trusted cryogenic systems with our advanced, real-time condition monitoring technology supplied by Tec4med, another Cryoport company. Our pipeline of new innovative products and services, including IntegriCell, positions Cryoport well to capture greater wallet share and offer clients a more integrated solution.
"We also expanded our global infrastructure with the opening of our newest Global Supply Chain Center near the Charles de Gaulle Airport in
"With our momentum and year-to-date performance along with our strong Q3 results, we are raising our full-year revenue guidance from continuing operations to a range of
In tabular form, Q3 2025 and 9M 2025 revenue compared to Q3 2024 and 9M 2024, respectively, were as follows:
|
Cryoport, Inc. and Subsidiaries |
|
|
|
|
|
|
|
Revenue |
|
|
|
|
|
|
|
(unaudited) |
|
|
|
|
|
|
|
|
Three Months Ended
|
Nine Months Ended
|
||||
|
(in thousands) |
2025 |
2024 |
% Change |
2025 |
2024 |
% Change |
|
Life Sciences Services |
$ 24,258 |
$ 20,931 |
16 % |
$ 71,492 |
$ 60,568 |
18 % |
|
BioLogistics Solutions |
19,428 |
16,955 |
15 % |
57,832 |
49,540 |
17 % |
|
BioStorage/BioServices |
4,830 |
3,976 |
21 % |
13,660 |
11,028 |
24 % |
|
Life Sciences Products |
$ 19,975 |
$ 17,386 |
15 % |
$ 59,235 |
$ 54,749 |
8 % |
|
Total Revenue From Continuing Operations |
$ 44,233 |
$ 38,317 |
15 % |
$ 130,727 |
$ 115,317 |
13 % |
BioStorage/BioServices revenue continued to experience strong year-over-year growth, increasing
Revenue from the support of commercial cell & gene therapies increased
As of September 30, 2025, Cryoport supported a total of 745 global clinical trials, a net increase of 54 clinical trials over September 30, 2024, with 83 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 |
September 30, |
||
|
2023 |
2024 |
2025 |
|
|
Phase 1 |
275 |
295 |
309 |
|
Phase 2 |
314 |
317 |
353 |
|
Phase 3 |
81 |
79 |
83 |
|
Total |
670 |
691 |
745 |
|
|
|
|
|
|
Cryoport Supported Clinical Trials by Region |
|||
|
Clinical Trials |
September 30, |
||
|
2023 |
2024 |
2025 |
|
|
|
516 |
531 |
559 |
|
EMEA |
112 |
112 |
137 |
|
APAC |
42 |
48 |
49 |
|
Total |
670 |
691 |
745 |
In Q3 2025, 4 Biologics License Applications (BLA) / Marketing Authorization Applications (MAA) filings occurred. Post quarter-end, 3 additional BLA filings occurred. During the quarter, Cryoport's customer ExCellThera received conditional marketing authorization from the European Commission (EC) for their cell therapy Zemcelpro®, as the first and only cell therapy for blood cancer patients without access to suitable donor cells. This EC decision authorizes the marketing of Zemcelpro® in all European Union member states, as well as
Recently and subsequent to the end of Q3 2025, Cryoport's customer Bristol Myers Squibb received another supplemental approval from the EC to expand the label of Breyanzi® as a third line treatment for relapsed or refractory follicular lymphoma. During the remainder of 2025, we anticipate up to an additional 7 application filings, 1 new therapy approval and an additional 2 approvals for label/geographic expansions; however, these anticipated approvals and filings may be adversely impacted by the current federal government shutdown in
Looking ahead to 2026, 5 customers have Prescription Drug User Fee Act (PDUFA) dates in the first and very early second quarter. Additionally, we are currently forecasting up to 25 possible BLA/MAA filings in 2026, with the majority being for new therapies.
Operational milestones
Life Sciences Services
-
Launched our newest, state-of-the-art Global Supply Chain Center at Charles de Gaulle airport in
Paris, France , with another Global Supply Chain Center inSanta Ana, California targeted for late 2026. -
IntegriCell, with cryopreservation service centers located near Liège,
Belgium and inHouston, Texas , made further progress in onboarding our first clients, with technology transfer activities nearing completion for multiple biotechnology and top 10 pharmaceutical companies.
Life Sciences Products
- MVE Biological Solutions (MVE) launched its next generation SC 4/2V and SC 4/3V dry vapor shippers, offering improved safety and reliability for transporting and preserving sensitive biological materials at cryogenic temperatures.
- Unveiled MVE's integrated Condition Monitoring Solutions for its SC 4/2V and 4/3V dry vapor shippers, combining MVE's trusted cryogenic systems with advanced, real-time condition monitoring technology supplied by Tec4med, a Cryoport company.
Financial Highlights
On June 11, 2025, the Company completed its previously announced divestiture of its specialty courier CRYOPDP business to DHL Supply Chain International Holding B.V. ("DHL") and entered into a strategic partnership with DHL. The divestiture and strategic partnership 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 Cryoport's long-term growth strategy. The results of CRYOPDP, a former business within Cryoport's Life Sciences Services segment, are presented as discontinued operations for all periods presented within the Condensed Consolidated 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.
Revenue
-
Total revenue from continuing operations for Q3 2025 was
$44.2 million $38.3 million 15% or$5.9 million -
Life Sciences Services revenue for Q3 2025 (representing
55% of our total revenue from continuing operations) was$24.3 million $20.9 million 16% year-over-year, including BioStorage/BioServices revenue of$4.8 million 21% year-over-year. -
Life Sciences Products revenue for Q3 2025 (representing
45% of our total revenue from continuing operations) was$20.0 million $17.4 million 15% year-over-year.
-
Life Sciences Services revenue for Q3 2025 (representing
-
Total revenue from continuing operations for 9M 2025 was
$130.7 million $115.3 million -
Life Sciences Services revenue for 9M 2025 was
$71.5 million $60.6 million $13.7 million $11.0 million -
Life Sciences Products revenue for 9M 2025 was
$59.2 million $54.7 million
-
Life Sciences Services revenue for 9M 2025 was
Gross Margin
-
Total gross margin from continuing operations
was
48.2% for Q3 2025 compared to45.5% for Q3 2024.-
Gross margin for Life Sciences Services was
49.7% for Q3 2025 compared to48.3% for Q3 2024. -
Gross margin for Life Sciences Products was
46.4% for Q3 2025 compared to42.1% for Q3 2024.
-
Gross margin for Life Sciences Services was
-
Total gross margin from continuing operations was
46.9% for 9M 2025 compared to43.5% for 9M 2024.-
Gross margin for Life Sciences Services was
48.8% for 9M 2025 compared to46.2% for 9M 2024. -
Gross margin for Life Sciences Products was
44.6% for 9M 2025 compared to40.5% for 9M 2024.
-
Gross margin for Life Sciences Services was
Operating Costs and Expenses
-
Operating costs and expenses from continuing operations were
$31.3 million $30.8 million $88.1 million $159.1 million $63.8 million $88.1 million $95.3 million
Net Income (Loss) – including Discontinued Operations
-
Net loss for Q3 2025 was
$6.9 million $89.9 million $0.8 million $96.1 million $115.4 million -
Net loss attributable to common stockholders for Q3 2025 was
$8.9 million $0.18 $83.9 million $1.68 $1.2 million $0.02 $102.1 million $2.07 -
Non GAAP adjusted net loss was
$25.4 million $50.8 million
Adjusted EBITDA from continuing operations
-
Adjusted EBITDA from continuing operations was a negative
$0.6 million $2.7 million $14.9 million
Cash, Cash equivalents, and Short-Term Investments
-
Cryoport held
$421.3 million
Share Repurchase Programs
-
During Q3 2025, the Company purchased 483,397 shares of its common stock under its repurchase programs, at an average price of
$7.73 $3.7 million $65.9 million
Updated Guidance for Continuing Operations for Full-Year Fiscal 2025
-
The Company now expects total revenue from continuing operations for fiscal year 2025 to be in the range of
$170.0 million $174.0 million U.S. federal government shutdown, 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 September 30, 2025, which is expected to be filed with the SEC on November 6, 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 Third Quarter 2025 in Review", providing a review of Cryoport's business update, will be issued at 4:05 p.m. ET on Tuesday, November 4, 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 November 4, 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
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Date: |
Tuesday, November 4, 2025 |
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Time: |
5:00 p.m. ET |
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Dial-in numbers: |
1-800-717-1738 ( |
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Confirmation code: |
Request the "Cryoport Call" or Conference ID: 1120106 |
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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 any necessary audio software. |
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 November 11, 2025. To access the replay, dial 1-844-512-2921 (
About Cryoport, Inc.
Cryoport, Inc. (Nasdaq: CYRX), is a leading global provider of 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, cryopreservation services, 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™."
Headquartered 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 updated 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 expectations about future benefits relating to the CRYOPDP divestiture and strategic partnership with DHL (collectively, the "DHL Transaction") and the Company's plans regarding the completion of its Global Supply Chain Centers, including expected timing. 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, the continued
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Cryoport, Inc. and Subsidiaries |
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Condensed Consolidated Statements of Operations |
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Three Months Ended
|
Nine Months Ended
|
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|
(in thousands, except share and per share data) |
2025 |
2024 |
2025 |
2024 |
|
Revenue |
|
|
|
|
|
Life Sciences Services revenue |
$ 24,258 |
$ 20,931 |
$ 71,492 |
$ 60,568 |
|
Life Sciences Products revenue |
19,975 |
17,386 |
59,235 |
54,749 |
|
Total revenue |
44,233 |
38,317 |
130,727 |
115,317 |
|
Cost of revenue: |
|
|
|
|
|
Cost of services revenue |
12,201 |
10,822 |
36,570 |
32,578 |
|
Cost of products revenue |
10,707 |
10,059 |
32,814 |
32,576 |
|
Total cost of revenue |
22,908 |
20,881 |
69,384 |
65,154 |
|
Gross margin |
21,325 |
17,436 |
61,343 |
50,163 |
|
Operating costs and expenses: |
|
|
|
|
|
Selling, general and administrative |
26,734 |
26,668 |
75,543 |
81,725 |
|
Engineering and development |
4,523 |
4,157 |
12,575 |
13,555 |
|
Impairment loss |
- |
- |
- |
63,809 |
|
Total operating costs and expenses: |
31,257 |
30,825 |
88,118 |
159,089 |
|
Loss from operations |
(9,932) |
(13,389) |
(26,775) |
(108,926) |
|
Other income (expense): |
|
|
|
|
|
Investment income |
3,402 |
3,059 |
6,441 |
8,468 |
|
Interest expense |
(526) |
(882) |
(1,727) |
(3,398) |
|
Gain on extinguishment of debt, net |
- |
17,326 |
- |
18,505 |
|
Other income (expense), net |
525 |
(1,878) |
(2,714) |
(1,691) |
|
Income (loss) before provision for income taxes |
(6,531) |
4,236 |
(24,775) |
(87,042) |
|
Provision for income taxes |
(165) |
(316) |
(673) |
(493) |
|
Income (loss) from continuing operations |
$ (6,696) |
$ 3,920 |
$ (25,448) |
$ (87,535) |
|
Income (loss) from discontinued operations, net |
(247) |
(3,115) |
115,393 |
(8,544) |
|
Net income (loss) |
$ (6,943) |
$ 805 |
$ 89,945 |
$ (96,079) |
|
Paid-in-kind dividend on Series C convertible preferred stock |
(2,000) |
(2,000) |
(6,000) |
(6,000) |
|
Net income (loss) attributable to common stockholders |
$ (8,943) |
$ (1,195) |
$ 83,945 |
$ (102,079) |
|
Net income (loss) per share attributable to common stockholders: |
|
|
|
|
|
Basic |
$ (0.18) |
$ (0.02) |
$ 1.68 |
$ (2.07) |
|
Weighted average common shares issued and outstanding: |
|
|
|
|
|
Basic |
50,125,268 |
49,417,757 |
50,110,450 |
49,261,717 |
|
Cryoport, Inc. and Subsidiaries |
|
|
|
Condensed Consolidated Balance Sheets |
|
|
|
|
September 30, |
December 31, |
|
|
2025 |
2024 |
|
(in thousands) |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
$ 255,811 |
$ 34,137 |
|
Short-term investments |
165,503 |
216,460 |
|
Accounts receivable, net |
34,914 |
25,304 |
|
Inventories |
23,326 |
21,476 |
|
Prepaid expenses and other current assets |
5,289 |
7,944 |
|
Current assets held for sale |
- |
36,251 |
|
Total current assets |
484,843 |
341,572 |
|
Property and equipment, net |
83,233 |
80,013 |
|
Operating lease right-of-use assets |
40,224 |
39,920 |
|
Intangible assets, net |
141,254 |
147,927 |
|
Goodwill |
22,409 |
20,569 |
|
Deposits |
2,097 |
1,951 |
|
Deferred tax assets |
268 |
842 |
|
Long-term assets held for sale |
- |
70,699 |
|
Total assets |
$ 774,328 |
$ 703,493 |
|
|
|
|
|
Current liabilities |
|
|
|
Accounts payable and other accrued expenses |
$ 13,884 |
$ 15,895 |
|
Accrued compensation and related expenses |
10,864 |
11,209 |
|
Deferred revenue |
1,447 |
1,061 |
|
Current portion of operating lease liabilities |
4,126 |
3,399 |
|
Current portion of finance lease liabilities |
428 |
315 |
|
Current portion of convertible senior notes, net |
- |
14,298 |
|
Current portion of notes payable |
- |
143 |
|
Current portion of contingent consideration |
- |
2,808 |
|
Current liabilities held for sale |
- |
15,435 |
|
Total current liabilities |
30,749 |
64,563 |
|
Convertible senior notes, net |
184,799 |
183,919 |
|
Notes payable, net |
1,291 |
1,114 |
|
Operating lease liabilities, net |
39,376 |
38,551 |
|
Finance lease liabilities, net |
840 |
800 |
|
Deferred tax liabilities |
664 |
804 |
|
Other long-term liabilities |
2,708 |
296 |
|
Contingent consideration, net |
630 |
3,751 |
|
Long-term liabilities held for sale |
- |
7,797 |
|
Total liabilities |
261,057 |
301,595 |
|
Total stockholders' equity |
513,271 |
401,898 |
|
Total liabilities and stockholders' equity |
$ 774,328 |
$ 703,493 |
Note Regarding Use of Non-GAAP Financial Measures
To supplement our financial statements, which are presented on the basis of
Adjusted operating costs and expenses is defined as operating costs and expenses, excluding impairment losses, if any. Adjusted net income (loss) is defined as net income (loss), excluding impairment losses, gain on extinguishment of debt, net, and income (loss) from discontinued operations, including gain on sale, if any. Management believes these measures, when read in conjunction with, and as supplemental to, the corresponding GAAP financial measures, provide useful measures to investors of Cryoport's expenses and operating results, meaningful comparisons with historical results, and insight into Cryoport's operating performance.
Adjusted EBITDA from continuing operations is defined as income (loss) from continuing operations adjusted for 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, net gain on extinguishment of debt, impairment loss, changes in fair value of contingent consideration and charges or gains resulting from non-recurring events, as applicable.
Management believes that adjusted EBITDA from continuing operations 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 from continuing operations 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 from continuing operations is also a significant performance measure used by Cryoport in connection with its incentive compensation programs. Management believes adjusted EBITDA from continuing operations, 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 operating cost and expenses to Non-GAAP adjusted operating cost and expenses |
||||
|
|
|
|
|
|
|
|
Three Months Ended
|
Nine Months Ended
|
||
|
|
2025 |
2024 |
2025 |
2024 |
|
(in thousands) |
|
|
|
|
|
GAAP operating costs and expenses |
$ 31,257 |
$ 30,825 |
$ 88,118 |
$ 159,089 |
|
Non-GAAP adjustments to operating costs and expenses |
|
|
|
|
|
Impairment loss |
— |
— |
— |
(63,809) |
|
Non-GAAP adjusted operating costs and expenses |
$ 31,257 |
$ 30,825 |
$ 88,118 |
$ 95,280 |
|
|
|
|
|
|
|
Cryoport, Inc. and Subsidiaries |
|
|
|
|
|
Reconciliation of GAAP net income (loss) to Non-GAAP adjusted net income (loss) |
|
|
||
|
|
|
|
|
|
|
|
Three Months Ended
|
Nine Months Ended
|
||
|
|
2025 |
2024 |
2025 |
2024 |
|
(in thousands) |
|
|
|
|
|
GAAP net income (loss) |
$ (6,943) |
$ 805 |
$ 89,945 |
$ (96,079) |
|
Non-GAAP adjustments to net income (loss) |
|
|
|
|
|
Income (loss) from discontinued operations, including gain on sale |
(247) |
— |
115,393 |
— |
|
Gain on extinguishment of debt, net |
— |
17,326 |
— |
18,505 |
|
Impairment loss |
— |
— |
— |
(63,809) |
|
Non-GAAP adjusted net income (loss) |
$ (6,696) |
$ (16,521) |
$ (25,448) |
$ (50,775) |
|
Cryoport, Inc. and Subsidiaries |
|
|
|
|
|
Reconciliation of GAAP income (loss) from continuing operations to adjusted EBITDA |
|
|||
|
(unaudited) |
|
|
|
|
|
|
Three Months Ended
|
Nine Months Ended
|
||
|
|
2025 |
2024 |
2025 |
2024 |
|
(in thousands) |
|
|
|
|
|
GAAP income (loss) from continuing operations |
$ (6,696) |
$ 3,920 |
$ (25,448) |
$ (87,535) |
|
Non-GAAP adjustments to income (loss): |
|
|
|
|
|
Depreciation and amortization expense |
6,415 |
6,041 |
18,798 |
17,573 |
|
Acquisition and integration costs |
38 |
118 |
69 |
652 |
|
Cost reduction initiatives |
160 |
397 |
642 |
532 |
|
Investment income |
(3,402) |
(3,059) |
(6,441) |
(8,468) |
|
Unrealized (gain)/loss on investments |
(655) |
3,535 |
620 |
2,593 |
|
Foreign currency (gain)/loss |
274 |
(1,621) |
2,521 |
(778) |
|
Interest expense, net |
526 |
882 |
1,727 |
3,398 |
|
Stock-based compensation expense |
2,526 |
4,056 |
7,635 |
12,923 |
|
Gain on extinguishment of debt, net |
— |
(17,326) |
— |
(18,505) |
|
Impairment loss |
— |
— |
— |
63,809 |
|
Change in fair value of contingent consideration |
— |
43 |
(5,178) |
(1,602) |
|
Income taxes |
165 |
316 |
673 |
493 |
|
Adjusted EBITDA from continuing operations |
$ (649) |
$ (2,698) |
$ (4,382) |
$ (14,915) |
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SOURCE Cryoport, Inc.
FAQ
What were Cryoport (CYRX) Q3 2025 total revenues and YoY growth?
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