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Cryoport, Inc. (Nasdaq: CYRX) is a global leader in supply chain solutions for the life sciences industry, specializing in temperature-controlled logistics and storage. The company supports critical areas such as cell and gene therapies, biopharma, animal health, and reproductive medicine by providing innovative systems and services to ensure the safe transport and storage of sensitive biologic materials. Cryoport operates globally, offering advanced packaging, logistics management, and cryogenic systems to meet the stringent demands of its clients.
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Life Sciences Services - Provides BioLogistics Solutions and BioStorage/BioServices, ensuring the safe and reliable storage, transportation, and management of biologic materials, including over 25 million samples stored globally.
- BioLogistics Solutions - Offers comprehensive logistics services for high-value biologic materials.
- BioStorage/BioServices - Manages secure storage and handling of biological samples.
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Life Sciences Products - Delivers temperature-controlled supply chain solutions, including advanced cryogenic systems for the storage and transportation of biologic materials.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Jerrell W. Shelton ExecutiveBoard | President and Chief Executive Officer | Jerrell W. Shelton has served as President and Chief Executive Officer at CYRX since November 2012 , and he became Chairman of the Board in October 2015. He has a distinguished background in leadership across multiple companies, including previous roles at Solera Holdings and Wellness, Inc.. | View Report → | |
Robert S. Stefanovich Executive | Senior Vice President, Chief Financial Officer, and Treasurer | Robert S. Stefanovich has served as CFO and Treasurer at Cryoport since June 2011 and as Senior Vice President since 2019. He also served as Secretary from 2011 to 2019 and held a brief role as Principal Executive Officer in 2012. |
- Given your revenue guidance of $240 million to $250 million for 2025, which suggests modest growth from 2024's $228.4 million, what specific challenges are constraining higher revenue growth, and how do you plan to address them?
- You mentioned signs of stability in MVE order patterns, but after a tough year in 2024, what concrete evidence supports this optimism, and how confident are you that this stabilization will result in meaningful revenue contributions in 2025?
- While gross margins improved to 45.8% in Q4, some of this was due to cost-cutting measures; are these margins sustainable long-term, especially as you invest in initiatives like IntegriCell that may initially drag on margins?
- With only a net increase of 26 clinical trials supported in 2024, what strategies are you implementing to accelerate clinical trial acquisitions, and how might the volatile funding environment impact your clinical trial pipeline and growth prospects?
- Given that IntegriCell is expected to generate modest revenue in 2025 and more significant contributions starting in 2026, how do you justify the current investments in this initiative while aiming to achieve positive adjusted EBITDA during 2025?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
World Courier Group, Inc. | The company competes with specialty couriers that offer products and services that could be considered competitive to certain components or elements of its platform of temperature-controlled supply chain solutions. |
Marken (a UPS company) | The company faces competition from specialty couriers that provide similar temperature-controlled supply chain solutions. |
Biocair | The company identifies this competitor as part of the specialty courier segment offering competitive services. |
Quick (a Kuehne+Nagel company) | This competitor is mentioned as part of the specialty courier segment competing in temperature-controlled logistics. |
The company competes with organizations offering products such as cryogenic systems and solutions. | |
IC Biomedical | This competitor provides products that overlap with certain components of the company's offerings. |
American Red Cross | The company faces competition from organizations offering services that could be considered competitive to its platform. |
Gift of Life Biologics | This competitor is mentioned as providing services that overlap with the company's offerings. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
TEC4MED LifeScience GmbH | 2023 | Completed in November 2023 for approximately $3.1 million; the acquisition complements Cryoport’s SmartPack2 condition monitoring platform by integrating real-time monitoring, cloud, and AI technologies, and it accelerates market expansion in the DACH region and among pharmaceuticals beyond cell and gene therapy. |
Cell&Co BioServices | 2022 | Completed in April 2022 for €5.7 million ($6.2 million)—comprised of cash, shares, and an earn‐out—to enhance Cryoport’s global temperature-controlled supply chain capabilities and fast-track the growth of its Global Supply Chain Center Network in the EMEA region. |
Polar Expres | 2022 | Completed in July 2022 for €2.8 million ($2.8 million) through a mix of cash consideration and an earn-out linked to EBITDA targets, thereby broadening Cryoport’s global temperature-controlled logistics solutions and strengthening its presence in the EMEA region. |
Cell Matters | 2022 | Completed in July 2022 for approximately €3.9 million ($4.0 million), with additional goodwill of €4.7 million allocated after financial indebtedness reimbursement, this strategic acquisition bolsters Cryoport’s cryo-process optimization and cryopreservation solutions in the EMEA market. |
Recent press releases and 8-K filings for CYRX.
- Revenue from continuing operations reached $41.0 million in Q1 2025, reflecting a 10% year-over-year increase with Life Sciences Services contributing 56% of total revenue
- Commercial Cell & Gene therapy revenue grew 33% YoY, supporting 711 global clinical trials and advancing the regenerative medicine sector
- Strategic partnership with DHL announced, including the divestiture of CRYOPDP for $195 million (expected to close in Q2/Q3 2025) to strengthen global market reach and the financial profile
- Product revenue stabilized with modest 2% YoY growth, aided by new launches such as the HV3 and HE 800
- DHL Group acquired 100% of CRYOPDP in an all-cash transaction valued at $195M, strengthening its specialized logistics for life sciences and healthcare
- Strategic Partnership with DHL Group supports DHL’s Strategy 2030, enhancing its Pharma Specialized Network for clinical trials, biopharma, and cell & gene therapies
- Global Capability Expansion: The acquisition bolsters Cryoport’s market position across APAC and EMEA, driving growth in supply chain solutions
- FY25 Revenue Guidance: Projected revenues between $165.0M–$173.0M with 6%-10% YoY growth, excluding first-quarter CRYOPDP contributions
- Enhanced Financial Profile: FY24 gross margins reached 44.5% actual (46.1% pro forma), with the deal expected to boost pro forma cash to over $450M
- FY 2024 revenue reached $228.4 million with Q4 revenue of $59.5 million; Life Sciences Services now represent 67% of total revenue (up from 62%) .
- Q4 gross margin improved to 45.8% from 40.6%, reflecting effective cost management .
- Commercial Cell & Gene Therapy revenue grew by 37% in Q4 and 20% for FY 2024, driven by multiple commercial approvals and expanding clinical trial support .
- Supported a record 701 global clinical trials, underscoring robust operational performance .
- Launched IntegriCell with early Q1 contracts and anticipated significant impact in 2026 .
- Provided 2025 revenue guidance of $240‑$250 million while outlining ongoing cost reduction and profitability initiatives .