Full Press Release Details
Cryoport Reports Second Quarter
2025 Financial Results
NASHVILLE, Tennessee, August 5, 2025, -
Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport" or the "Company"), a leading global provider of temperature-controlled
supply chain solutions for the life sciences, today announced financial results for its second quarter (Q2) and first half (H1) of 2025.
Jerrell Shelton, CEO of Cryoport,
commented, "Cryoport delivered strong, double-digit growth across all revenue streams within Life Sciences Services in the second
quarter, increasing 21% year-over-year and accounting for 54% of total revenue from continuing operations. Notably, revenue from BioLogistics
Solutions increased 20% and BioStorage/BioServices revenue rose 28%, underscoring the growing demand for our integrated platform.
"Revenue from the support
of commercial cell and gene therapies increased 33% year-over-year to $8.7 million. This growth continues to be fueled by the increasing
development and adoption of cell & gene therapies, a positive trend we believe will continue for years to come.
"Life Sciences Products revenue
grew 8% year-over-year. This solid performance was primarily driven by stronger demand, particularly from animal health customers.
"The 14% year-over-year increase
in total revenue from continuing operations, combined with our planned pathway to profitability, contributed to an increase in gross margin
and a meaningful improvement in our adjusted EBITDA. With strong execution across all business units, we are reaffirming our full-year
2025 revenue guidance as we move towards our goal of sustainable, long-term profitability.
"A key milestone this quarter
was the launch of our strategic partnership with the DHL Group and DHL's acquisition of CRYOPDP. This transaction with DHL delivered
both a strong infusion of capital, a substantial return on investment, and strengthened our global biologistics capabilities and effectiveness.
By leveraging DHL's competencies, scale, and reach in APAC and EMEA, we believe we will be increasingly well positioned to expand
our Life Sciences Services business and deepen our leadership in the developing global regenerative medicine market.
"In summary, the second quarter
was marked by strong revenue growth, improved profitability, and the execution of a transformative partnership strategy. We are entering
the second half of the year with strong momentum and a clear focus on driving long-term shareholder value," concluded Mr. Shelton.
In tabular form, Q2 2025 and H1
2025 revenue compared to Q2 2024 and H1 2024, respectively, were as follows:
| Cryoport, Inc. and Subsidiaries |
| Revenue |
| (unaudited) |
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||
| (in thousands) | 2025 | 2024 | % Change | 2025 | 2024 | % Change | ||||||||||||||||||
| Life Sciences Services | $ | 24,369 | $ | 20,152 | 21 | % | $ | 47,234 | $ | 39,637 | 19 | % | ||||||||||||
| BioLogistics Solutions | 19,874 | 16,628 | 20 | % | 38,404 | 32,585 | 18 | % | ||||||||||||||||
| BioStorage/BioServices | 4,495 | 3,524 | 28 | % | 8,830 | 7,052 | 25 | % | ||||||||||||||||
| Life Sciences Products | $ | 21,085 | $ | 19,557 | 8 | % | $ | 39,260 | $ | 37,363 | 5 | % | ||||||||||||
| Total Revenue From Continuing Operations | $ | 45,454 | $ | 39,709 | 14 | % | $ | 86,494 | $ | 77,000 | 12 | % |
BioStorage/BioServices revenue
continued its strong growth trajectory year-over-year, increasing 28% in Q2 2025 as we continue to introduce our capabilities to existing
clients, 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 to $8.7 million and included revenue from BioLogistics Solutions and accessories.
As of June 30, 2025, we supported eighteen (18) commercial therapies.
As of June 30, 2025, Cryoport
supported a total of 728 global clinical trials, a net increase of 44 clinical trials over June 30, 2024, with 82 of these clinical trials
in Phase 3. The number of trials by phase and region are as follows:
Cryoport Supported Clinical Trials by Phase
| June 30, | ||||||||||||
| Clinical Trials | 2023 | 2024 | 2025 | |||||||||
| Phase 1 | 273 | 286 | 304 | |||||||||
| Phase 2 | 313 | 322 | 342 | |||||||||
| Phase 3 | 82 | 76 | 82 | |||||||||
| Total | 668 | 684 | 728 |
Cryoport Supported Clinical Trials by Region
| June 30, | ||||||||||||
| Clinical Trials | 2023 | 2024 | 2025 | |||||||||
| Americas | 515 | 525 | 556 | |||||||||
| EMEA | 109 | 114 | 124 | |||||||||
| APAC | 44 | 45 | 48 | |||||||||
| Total | 668 | 684 | 728 |
In Q2 2025, one Marketing Authorization
Applications (MAA) filing occurred and two Biologics License Applications (BLA) filings have occurred for label/geographic expansions
post the quarter end. During the quarter, 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 twenty (20) application
filings, one (1) new therapy approval and an additional three (3) approvals for label/geographic expansions.
Additionally, in late June 2025,
the FDA announced it was removing the Risk Evaluation and Mitigation Strategies (REMS) requirements for approved BCMA- and CD19-directed
autologous CAR-T cell immunotherapies. This reduces the regulatory burden and can lead to increased patient access and faster commercial
scaling for these therapies. Cryoport-supported therapies such as Carvykti , Yescarta , Tecartus ,
and Breyanzi are included in this FDA action.
Operational milestones
Life Sciences Services
Life Sciences Products
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 business, 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.
(Loss) - including Discontinued Operations
equivalents, and Short-Term Investments
for Continuing Operations for Full Year Fiscal 2025
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
June 30, 2025, which is expected to be filed with the SEC on August 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 Second Quarter 2025 in Review", providing a review of Cryoport's
business update, will be issued at 4:05 p.m. ET on Tuesday, August 5, 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 August 5, 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: | Tuesday, August 5, 2025 |
| Time: | 5:00 p.m. ET |
| Dial-in numbers: | 1-800-717-1738 (U.S.), 1-646-307-1865 (International) |
| Confirmation code: | Request the "Cryoport Call" or Conference ID: 1197564 |
| 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 August 12, 2025. To access the replay, dial 1-844-512-2921 (United
States) or 1-412-317-6671 (International) and enter replay entry code: 1197564#.
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, 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 Nashville, Tennessee,
our company maintains a strong global presence with operations across the Americas, EMEA, and APAC.