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CYRX

Cryoport, Inc.

CYRX

Cryoport, Inc. • NASDAQ
$9.62 ▲ 0.21% (+0.02)
Market Cap $481.64 M
52w High $11.44
52w Low $4.58
Dividend Yield 0%
P/E -7.89
Volume 265.63K
Outstanding Shares 50.07M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2024 $44.233M ▼ $31.257M ▲ $-6.943M ▼ -15.696% ▼ $-0.178 ▼ $410K ▲
Q2-2024 $45.454M ▲ $31.026M ▲ $105.18M ▲ 231.399% ▲ $2.05 ▲ $-3.826M ▼
Q1-2024 $41.04M ▼ $28.125M ▼ $-11.981M ▲ -29.193% ▲ $-0.28 ▲ $-565K ▲
Q4-2023 $59.532M ▲ $41.212M ▼ $-18.677M ▼ -31.373% ▼ $-0.42 ▼ $-10.118M ▼
Q3-2023 $56.664M $41.811M $805K 1.421% $-0.02 $10.179M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2024 $425.975M ▲ $773.927M ▲ $258.536M ▼ $515.391M ▲
Q2-2024 $244.031M $699.844M $301.033M $398.811M
Q1-2024 $244.031M ▼ $699.844M ▼ $301.033M ▼ $398.811M ▼
Q4-2023 $261.749M ▼ $703.492M ▲ $301.594M ▲ $401.898M ▼
Q3-2023 $272.666M $701.765M $283.193M $418.572M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2024 $-6.696M ▲ $2.188M ▲ $14.306M ▼ $-2.868M ▲ $12.395M ▼ $-1.265M ▲
Q2-2024 $-11.981M $-7.345M ▼ $230.039M ▲ $-15.864M ▼ $207.314M ▲ $-11.696M ▼
Q1-2024 $-11.981M ▲ $-4.342M ▲ $5.922M ▲ $-189K ▼ $-9.187M ▼ $-8.42M ▲
Q4-2023 $-18.677M ▼ $-5.48M ▼ $3.479M ▼ $2.012M ▲ $624K ▲ $-11.121M ▼
Q3-2023 $805K $447K $153.57M $-155.291M $-1.793M $-1.051M

Revenue by Products

Product Q4-2023Q1-2024Q2-2024Q3-2024
Product
Product
 $40.00M ▲$20.00M ▼$20.00M ▲$20.00M ▲
Service
Service
 $80.00M ▲$20.00M ▼$20.00M ▲$20.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown meaningfully from several years ago but has flattened out more recently, suggesting the rapid expansion phase has slowed for now. The company consistently generates positive gross profit, which indicates its core services are priced above direct delivery costs. However, operating results remain solidly in the loss-making zone, and those losses have widened again after a brief period of improvement. Net earnings and earnings per share have been negative for the full five-year period, reflecting a business still in investment and scale-up mode, not yet in a steady, profitable phase. The key question going forward is whether future growth in high-value logistics services can outpace the company’s ongoing cost base and eventually push the income statement into sustainable profitability.

Balance Sheet

Balance Sheet The balance sheet shows that total assets expanded strongly a few years ago, largely driven by acquisitions and investment, but have since edged down, which may reflect asset write-downs, amortization, or a dialing back of growth spending. Equity has eroded from its peak, mainly due to repeated net losses, which gradually eat into the company’s capital base. Debt increased substantially during the growth phase and now sits at a material but not extreme level; recent reductions are a positive sign but leave the business still somewhat reliant on borrowing. Cash on hand is modest relative to the overall balance sheet, suggesting that while the company is not in an obvious cash-rich position, it does retain some flexibility, yet will need careful management of liquidity if losses continue.

Cash Flow

Cash Flow Operating cash flow has hovered around break-even over the past few years, occasionally dipping slightly negative. That pattern shows the core business is close to, but not yet reliably, self-funding from day-to-day operations. Free cash flow has been consistently negative, mainly because the company continues to invest in equipment, infrastructure, and technology. In practical terms, this means Cryoport has depended on external capital—through debt or equity—to fund its growth and ongoing losses. The direction of travel in the coming years will be critical: if operating cash starts to turn firmly positive while investment needs normalize, the cash profile could improve quickly; if not, the dependence on outside funding may persist.

Competitive Edge

Competitive Edge Cryoport occupies a specialized niche at the intersection of life sciences and logistics, focusing on ultra-cold, high-reliability transport for cell and gene therapies and other sensitive biological materials. Its key advantage is an end-to-end, vertically integrated platform: it owns important pieces of the chain from cryogenic equipment manufacturing to specialty courier services and global logistics coordination. Deep regulatory expertise, a wide international footprint, and its proprietary “Chain of Compliance” program create high trust and meaningful switching costs for customers, especially in complex clinical trials. Once embedded in a therapy’s supply chain, replacing Cryoport can be risky and disruptive for clients, which supports long-term relationships. The main strategic risk is that this niche depends heavily on the pace of development and commercialization in cell and gene therapies, a field that can be uneven and highly regulated.

Innovation and R&D

Innovation and R&D The company has built a technology-heavy ecosystem rather than just offering cold boxes and transport. Its shippers incorporate smart monitoring devices that track temperature, location, and handling in real time, feeding into a cloud logistics platform that gives clients end-to-end visibility and control. Newer product lines, such as advanced shippers and innovations like the Cryosphere, push performance and reliability further. Cryoport is also moving up the value chain with services like standardized cryopreservation (IntegriCell) and global supply chain centers offering storage, packaging, and related bioservices. On top of that, it is layering consulting, quality, and compliance services, and is exploring automation and artificial intelligence to optimize routes and reduce risk. This steady stream of product and service innovation strengthens its moat, but it also demands ongoing investment, which ties back to the company’s need to eventually convert innovation into sustained, profitable revenue growth.

Summary

Cryoport is a specialized logistics and services provider deeply tied to the growth of advanced therapies, especially in cell and gene treatments. Strategically, it has built a strong competitive position through vertical integration, high regulatory and quality standards, and sticky, long-term relationships with biopharma customers. Technologically, it is innovative and forward-leaning, expanding from logistics into storage, bioservices, and consulting, which could increase its share of each client’s overall spend. Financially, however, the company is still in a transition phase: revenues have stalled after earlier growth, losses remain significant, and free cash flow is consistently negative due to ongoing investment. The balance sheet carries meaningful debt and only moderate cash, making future execution—turning its strong strategic position into durable, profitable growth—the central issue to watch. Overall, CYRX combines a promising niche and clear competitive strengths with the risks and uncertainties of a business that has not yet proven it can generate steady profits and cash on a standalone basis.

NEWS

November 6, 2025 · 12:30 PM UTC

Cryoport Systems Wins 2025 BioTech Breakthrough Award For “BioServices Innovation of the Year”

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November 4, 2025 · 4:05 PM UTC

Cryoport Reports Third Quarter 2025 Financial Results

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October 30, 2025 · 8:30 AM UTC

Cryoport Continues to Set New Benchmarks for the Global Regenerative Medicine Supply Chain

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October 21, 2025 · 8:00 AM UTC

Cryoport to Report Third Quarter 2025 Financial Results on November 4, 2025

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October 7, 2025 · 8:30 AM UTC

MVE Biological Solutions, A Cryoport Company, Introduces Real-Time Integrated Condition Monitoring Systems For Cryogenic Dewars

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