Cryoport (CYRX) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached $47.8 million, up 16–16.5% year-over-year, driven by strong growth in both Life Sciences Services and Products segments.

• Supported 766 global clinical trials (91 in phase III) and 21 commercial cell and gene therapy therapies as of March 31, 2026.

• Adjusted EBITDA from continuing operations improved by $2.2 million year-over-year to $(0.6) million, nearing profitability.

• Net loss attributable to common stockholders was $12.5 million ($0.25 per share), an improvement from Q1 2025.

• Completed divestiture of CRYOPDP business to DHL in June 2025; results now presented as discontinued operations.

Financial highlights

• Life Sciences Services revenue grew 17.6–18% year-over-year to $26.9 million; BioStorage/BioServices up 20.7–21%.

• Life Sciences Products revenue increased 15% year-over-year to $20.9 million, driven by demand for MVE cryogenic systems.

• Gross margin was 45.8% in Q1 2026, up from 45.4% in Q1 2025; services margin 48.9%, products margin 41.9%.

• Commercial cell and gene therapy revenue rose 26% to $9.1 million; clinical trial revenue grew 18% to $12.9 million.

• Cash, cash equivalents, and short-term investments totaled $403.6 million at quarter-end.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $192–$196 million, representing 9–11% organic growth.

• Positive adjusted EBITDA expected in the second half of 2026, driven by organic revenue growth and facility ramp-ups.

• Anticipates 10 additional BLA or MAA filings and up to eight new therapy approvals in 2026.

• Growth catalysts include new BioServices operations in Paris (Q3 2026) and a new Global Supply Chain Center in Santa Ana, California (Q4 2026).

• Management expects continued investment in supply chain initiatives, geographic expansion, and technology to support growth.