Cryoport Reports First Quarter 2025 Financial Results Commercial Cell & Gene therapy revenue of $7.2 million, up 33% year over year Q1 2025 revenue from continuing operations of $41.0 million, up 10% year over year Suppo

Cryoport Reports First Quarter 2025 Financial

NASHVILLE, Tennessee, May 7,

2025, - Cryoport, Inc. (NASDAQ: CYRX) (Cryoport), a global provider of temperature-controlled supply chain solutions

for the life sciences sector, today announced financial results for the first quarter (Q1) ended March 31, 2025.

Jerrell Shelton, CEO of Cryoport, commented,

"We delivered a strong start to the year with $41.0 million of revenue from continuing operations,

which represented 10% year-over-year growth and drove meaningful improvement in adjusted EBITDA. We believe order patterns are stabilizing

in our Life Sciences Products segment, while engagement levels increased significantly in

our Life Sciences Services segment, highlighting a new momentum in our business. Consequently,

we are optimistic in our outlook for the full year. Looking ahead, we continue to navigate through the current economic environment and,

at this point in time, anticipate minimal impact from tariffs as we believe related charges will be passed through if and when they occur.

"Revenue growth from our support

of commercial Cell & Gene therapies was up 33% year over year, while Life Sciences Services revenue, in total, increased 17%

year-over-year. Our momentum in the Life Sciences Services space, which accounted for 56% of our total revenue in the first quarter of

2025, continues to be driven by the increasing development and commercialization of Cell & Gene-based therapies, which we expect

will persist even in the current economic environment.

"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

BioStorage/BioServices revenue continued

to grow double digits year-over-year, increasing 23% in Q1 2025 as we continue to introduce our capabilities to existing clients, as well

as add new clients into our global network, and as more commercial therapies progress in the number of patients treated.

Revenue from the support of commercial

Cell & Gene therapies increased 33% year-over-year. As of March 31, 2025, we supported nineteen (19) commercial therapies.

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:

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 Breyanzi 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 U.S. Food and Drug Administration (FDA) approval

for their cell therapy ZEVASKYNTM, for the treatment of Recessive Dystrophic Epidermolysis Bullosa (RDEB). During the remainder

of 2025, we anticipate up to an additional seventeen (17) application filings, four (4) new therapy approvals and an additional four

(4) approvals for label/geographic expansions or moves to earlier lines of treatment.

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.

Operating Costs and Expenses

Net Loss - including Discontinued

Cash, Cash equivalents, and Short-Term

Share Repurchase Program

Guidance for Continuing Operations

for Full Year Fiscal 2025

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

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

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

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 (United States) or

1-412-317-6671 (International) and enter replay entry code: 1180684#.

About 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,