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Dec 2019 73% Revenue growth Jan 2019 Recognized leader for C> logistics; Supporting first two commercialized CAR T - cell therapies: Commercial launch of Tecartus, Cryoport supported therapy July 2020 Oct 2020 Cryoport completes two acquisitions: CRYOPDP, a global provider of temperature - controlled logistics solutions for clinical research, pharma and cell and gene therapy markets MVE Biological Solutions, the global leader in cryogenic equipment and solutions Dec 2020 EU approval of LibmeldyTM, Cryoport supported therapy Cryoport's History of Amplifying Strength across the Life Sciences Landscape 2021 Cryoport, Inc.
Higher approval rate 0 200 400 600 2020 2024 2027 Lower trial success rate Continued market conditions Faster rate of approval Faster rate + trial accel. Higher approval rate CAGR '20 - "24 43% 39% 32% 27% 23% CAGR '24 - "27 32% 30% 32% 33% 30% 56 72 79 96 120 Source: Leading third party consulting firm analysis Notes: Some therapies, such as those focused on treating Hepatitis A and B, will drive higher patient populations; In order to avoid pr edicting success of individual therapies, we have assumed a standard number of treatable patients per therapy based on average incidents currently in trials.
Further, management and the Board of Directors utilize this non - GAAP financial measure to gain a better understanding of the Company's comparative operating performance from period - to - period and as a basis for planning and forecasting future periods . However, there are a number of limitations related to the use of these or other non - GAAP measures and their nearest GAAP equivalents .
A reconciliation of Adjusted EBITDA to its most directly comparable GAAP counterpart, net income (loss), included in this presentation . Cryoport believes this non - GAAP measure provides a useful measure of the Company's operating results, a meaningful comparison with historical results and with the results of other companies, and insight into the Company's ongoing operating performance .
Cryoport defines Adjusted EBITDA as net income (loss), as adjusted for depreciation and amortization expense, interest expense, net, stock - based compensation expense, income taxes and acquisition costs . Adjusted EBITDA is in addition to and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to revenue, net income, operating income or any other performance measures derived in accordance with GAAP .
Cryoport cautions you not to place undue reliance on the forward - looking statements contained in this presentation, which only speak as of the date hereof . Except as required by law, Cryoport disclaims any obligation, and does not undertake, to update or revise any forward - looking statements . This presentation includes Adjusted EBITDA, a non - GAAP financial measure .
Cryoport's business could be affected by a number of other factors, including the risk factors listed from time to time in Cryoport's SEC reports including, but not limited to, Cryoport's 10 - K for the year ended December 31 , 2019 , Cryoport's Quarterly Report on Form 10 - Q for the quarter ended September 30 , 2020 and any subsequent filings with the SEC .
Factors that could cause actual results to differ materially include, but are not limited to, ( 1 ) risks and uncertainties associated with the effect of changing economic conditions, ( 6 ) trends in the products markets, ( 7 ) variations in Cryoport's cash flow, ( 8 ) market acceptance risks, ( 9 ) technical development risks and ( 10 ) other unforeseen risks .
These forward - looking statements include, but are not limited to, statements concerning the potential benefit of Cryoport's acquisitions of CRYOPDP and MVE and the estimated or anticipated future business, performance and results of operations following the transaction . It is important to note that Cryoport's actual results could differ materially from those in any such forward - looking statements .
Words or phrases such as "believe," "may," "could," "will," "estimate," "continue," "anticipate," "intend," "seek," "plan," "expect," "should," "would" or similar expressions are intended to identify forward - looking statements . Forward - looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties .