Cryoport, Inc. SEC 10-Q Report
Cryoport, Inc. has released its Q3 2024 Form 10-Q report, showcasing a 15.4% increase in total revenue to $44.2 million, driven by strong demand in Life Sciences Services and Products. Gross margin improved to 48.2%, while net loss attributable to common stockholders rose to $(8.9) million. The company supported 745 clinical trials globally, with significant growth in BioLogistics Solutions and demand for cryogenic equipment, particularly in EMEA and APAC regions. Future outlook suggests regenerative medicine therapies will be key revenue drivers.
Cryoport, Inc., a leading provider of temperature-controlled supply chain solutions for the life sciences industry, has released its Form 10-Q report for the third quarter of 2024. The report highlights significant growth in both financial and operational metrics, driven by robust demand in its core business segments.
Financial Highlights
Total Revenue: $44.2 million, increased by 15.4% from the same period in 2024, driven by strong demand in Life Sciences Services and Products.
Gross Margin: $21.3 million, representing 48.2% of total revenue, up from 45.5% in the prior year period, indicating improved cost efficiency.
Net Income (Loss): $(6.9) million, compared to $0.8 million in the prior year period, reflecting the impact of discontinued operations and other expenses.
Net Loss Attributable to Common Stockholders: $(8.9) million, increased from $(1.2) million in the prior year period, due to higher operating expenses and dividends on preferred stock.
Business Highlights
Revenue Segments: Life Sciences Services revenue increased by 15.9% driven by growth in BioLogistics Solutions and BioStorage/BioServices, with Commercial Cell & Gene Therapy revenue showing a 21.7% increase.
Revenue Segments: Life Sciences Products revenue grew by 14.9%, primarily driven by demand for cryogenic stainless-steel freezers and related equipment, with notable demand from EMEA and APAC regions.
Geographical Performance: Strong demand for Life Sciences Products was observed in the EMEA and APAC regions, contributing significantly to revenue growth.
Sales Units: The company supported 745 clinical trials globally, an increase from 691 trials in the previous year, with 83 trials in Phase 3, indicating robust engagement in the clinical trial market.
Future Outlook: The company anticipates that regenerative medicine advanced therapies will become significant revenue drivers as they progress through clinical trials and receive commercial approval, with Cryoport positioned as a critical supply chain partner.
SEC Filing: Cryoport, Inc. [ CYRX ] - 10-Q - Nov. 06, 2025
