Cryoport — Third Quarter 2026 Earnings Summary

Financial Performance:

• Total revenue for Q3 2026 was $50.2 million, a 14% increase year-over-year compared to $44.2 million in Q3 2025.
• Revenue for the nine months ended September 30, 2026, was $147.0 million, up 12% from $130.7 million in the same period in 2025.
• Life Sciences Services revenue grew 18% year-over-year in Q3 2026 to $28.6 million ($24.3 million in Q3 2025).
• BioStorage/BioServices revenue increased 25% year-over-year in Q3 2026 to $6.0 million ($4.8 million in Q3 2025).
• Life Sciences Products revenue grew 8% year-over-year in Q3 2026 to $21.7 million ($20.0 million in Q3 2025).
• Total gross margin was 47.5% in Q3 2026, down from 48.2% in Q3 2025; for the nine months, total gross margin was 46.7% compared to 46.9%.
• Gross margin for Life Sciences Services was 50.4% in Q3 2026 versus 49.7% in Q3 2025.
• Gross margin for Life Sciences Products was 43.6% in Q3 2026 versus 46.4% in Q3 2025.
• Operating costs and expenses were $32.6 million in Q3 2026 compared to $31.3 million in Q3 2025; for the nine months, expenses were $97.0 million versus $88.1 million.
• Loss from continuing operations was $10.9 million in Q3 2026 compared to a loss of $6.7 million in Q3 2025; for the nine months, the loss was $28.5 million versus $25.4 million.
• Net loss for Q3 2026 was $10.9 million compared to a net loss of $6.9 million in Q3 2025; for the nine months, net loss was $29.7 million compared to net income of $89.9 million in 2025.
• Net loss attributable to common stockholders was $12.9 million ($0.25 per share) in Q3 2026, compared to a net loss of $8.9 million ($0.18 per share) in Q3 2025.
• Net loss attributable to common stockholders for the nine months was $35.7 million ($0.71 per share), compared to net income of $83.9 million ($1.68 per share) in 2025.
• Adjusted EBITDA from continuing operations was positive $1.1 million in Q3 2026, compared to negative $0.6 million in Q3 2025; for the nine months, it was $0.9 million compared to negative $4.4 million.
• Cash, cash equivalents, and short-term investments totaled $393.1 million as of September 30, 2026.
• Deferred revenue was $1.5 million as of September 30, 2026, compared to $0.9 million as of December 31, 2025.
• Current portion of convertible senior notes, net, was $186.0 million as of September 30, 2026, compared to $185.1 million as of December 31, 2025.

Guidance and Future Outlook:

• The Company raised its full-year 2026 revenue guidance to a range of $197 million to $199 million.
• Management anticipates two possible additional new therapy approvals with PDUFA dates in Q4 2026 and one possible additional supplemental approval for geographic expansion in 2026.
• The Company expects five possible Biologics License Applications (BLA) or Marketing Authorization Applications (MAA) in 2026.
• Guidance is dependent on current business expectations and may be impacted by national economic factors, global macroeconomic and geopolitical environments, supply chain constraints, inflationary pressures, tariffs, trade restrictions, and foreign currency fluctuations.

Business Segments and Product Lines:

• Commercial Cell and Gene Therapy (CGT) revenue increased 20% year-over-year in Q3 2026.
• BioLogistics Solutions revenue increased 16% year-over-year in Q3 2026, driven by commercial therapies development and clinical trial progress.
• MVE Biological Solutions maintains its position as the global market leader in cryogenic systems, supporting 8% growth in Life Sciences Products revenue.
• Cryoport Systems initiated BioLogistics services at its new Global Supply Chain Center in Santa Ana, California.
• Cryoport Systems' Global Supply Chain Center in Paris, France, received ISO 9001 and ISO 21973 certifications.
• CRYOGENE secured new BioStorage and service contracts with Houston Methodist Medical Center, Sonic Clinical Trials, and XenoSTART.

Market and Competitive Landscape:

• As of September 30, 2026, Cryoport supported a record 788 global clinical trials, an increase of 43 trials from September 30, 2025.
• Of the 788 supported clinical trials, 99 were in Phase 3.
• The number of supported commercial cell and gene therapies increased to 23 as of September 30, 2026.
• Clinical trial support by region as of September 30, 2026: Americas (589), EMEA (143), and APAC (56).
• Two customers filed BLAs with the FDA in Q3 2026.
• Customer Replimune received accelerated FDA approval for TUDRIQEV™ for unresectable advanced cutaneous melanoma.
• Customer Crispr Therapeutics and partner Vertex Pharmaceuticals received FDA supplemental approval to expand the label of CASGEVY® for patients 2 years and older with Sickle Cell Disease or Transfusion-dependent Beta Thalassemia.

Risks and Challenges:

• The Company faces risks related to national economic factors, the global macroeconomic and geopolitical environment, supply chain constraints, inflationary pressures, tariffs, trade restrictions, and foreign currency fluctuations.
• Actual results may differ materially from forward-looking statements due to factors including the effects of changing economic and geopolitical conditions, supply chain constraints, market acceptance risks, and technical development risks.
• Specific geopolitical risks mentioned include the war with Iran.

Management Commentary and Tone:

• CEO Jerrell Shelton stated that results reflect continued momentum across the core CGT business and the increasing number of patients receiving CGT treatments.
• Management highlighted the strength of the integrated platform and the growing demand for end-to-end temperature-controlled supply chain solutions.
• Shelton noted that the positive adjusted EBITDA of $1.1 million represents an important milestone in the pathway to profitability.
• Management expressed confidence in the outlook due to strong year-to-date performance, expanding support of commercial therapies, deepening customer relationships, and a robust clinical trial pipeline.

Other Key Points:

• On June 11, 2025, the Company completed the divestiture of its CRYOPDP specialty courier business to DHL Group; results are presented as discontinued operations.
• Net income for the nine months ended September 30, 2025, included $115.4 million (net of taxes) from the sale of CRYOPDP.
• The Company filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, with the SEC on November 5, 2026.
• An earnings conference call and webcast were scheduled for November 5, 2026, at 5:00 p.m. ET.