CryoPort Inc ( (CYRX) ) has released its Q4 earnings. Here is a breakdown of the information CryoPort Inc presented to its investors.
Cryoport, Inc. is a global leader in supply chain solutions for the life sciences industry, specializing in cell and gene therapies, with a focus on ensuring reliable and innovative supply chain management.
Cryoport recently announced its financial results for the fourth quarter and full year of 2024, highlighting a total revenue of $228.4 million, which aligns with the company’s guidance. The company also reported significant growth in its commercial cell and gene therapy revenue, which saw a 20% increase year-over-year.
Key financial metrics from the report include a 4% increase in total revenue for Q4 2024 compared to the same quarter in 2023, driven by a 6.8% rise in Life Sciences Services revenue. Despite a slight decline in Life Sciences Products revenue, the company’s gross margin improved to 45.8% in Q4 2024. Cryoport also reported a decrease in operating costs and expenses for the quarter, although the net loss for FY 2024 was higher than the previous year.
The company continues to support a growing number of global clinical trials, with 701 trials as of the end of 2024, and anticipates further growth in the cell and gene therapy market. Cryoport is focused on expanding its market position and exploring new revenue streams through strategic collaborations and partnerships.
Looking ahead, Cryoport has provided a revenue guidance range of $240 to $250 million for 2025, reflecting its confidence in capitalizing on market opportunities and achieving sustainable profitability.