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Cryoport Reports First Quarter 2026 Financial Results

CYRX
  • Cryoport reported first quarter 2026 revenue of $47.8 million, a 16% year-over-year increase from $41.0 million.
  • Commercial cell & gene therapy (CGT) revenue grew 26% year-over-year to $9.1 million, supporting 21 approved CGT programs.
  • Life Sciences Services revenue increased 18% year-over-year to $26.9 million, driven by a 21% rise in BioStorage/BioServices.
  • Life Sciences Products revenue rose 15% year-over-year to $20.9 million, fueled by demand for MVE cryogenic systems.
  • The company supported 766 global clinical trials as of March 31, 2026, including 91 in Phase 3.
  • Cryoport raised its full-year 2026 revenue guidance to a range of $192 million to $196 million.
  • Adjusted EBITDA from continuing operations improved to a negative $0.6 million, up from a negative $2.8 million in the prior year period.
  • Net loss for the quarter was $10.5 million, or $0.25 per share, compared to a net loss of $12.0 million in Q1 2025.
  • Cash, cash equivalents, and short-term investments totaled $403.6 million as of March 31, 2026.
  • Operational milestones include the planned Q3 2026 launch of BioServices in Paris, France, and the Q4 2026 opening of a new Global Supply Chain Center in Santa Ana, California.
  • The company highlighted the FDA accelerated approval of Rocket Pharmaceuticals' gene therapy KRESLADI™ during the quarter.
  • MVE Biological Solutions introduced its new Fusion 800 Series self-sustaining cryogenic freezer and integrated HE cryogenic storage systems.