Cryoport, Inc. Q3 FY2025 earnings call

• Double-digit growth in Life Sciences Services and Product segments continued in the third quarter.
• Revenue from support of commercial cell and gene therapy grew 36% year-over-year to $8.3 million.
• Launched MVE Biological Solutions next-generation SC4/2V and SC4/3V vapor shippers with integrated condition monitoring.
• Progressed on growth initiatives: onboarding clients for IntegriCell cryopreservation services, opened logistics portion of Cryoport Systems' global supply chain center in Paris, and advancing toward a global supply chain center in Santa Ana, California.
• Strategic partnership with DHL Group established, which will enhance positioning in APAC and EMEA regions.
• Cryoport's temperature control supply chain solutions support the largest portfolio of clinical and commercial gene therapies, with 745 global clinical trials and 83 in Phase III.

During the third quarter, Cryoport continued strong momentum with double-digit growth in both Life Sciences Services and Life Sciences Product segments. The Life Sciences Services segment grew 16% year-over-year and represented 55% of total revenue from continuing operations. This included a 21% increase in BioStorage - Bioservices revenue, driven by the rising prevalence of chronic and rare diseases and advancements in cell and gene therapies. The Life Sciences Product segment saw 15% year-over-year revenue growth, driven by improved demand for market-leading cryogenic systems. It's important to note that CRYOPDP's financials, previously part of the Life Sciences Services reportable segment, are now presented as discontinued operations.

• Updated full-year 2025 total revenue from continuing operations to the range of $170 million to $174 million.
• Progressing toward positive adjusted EBITDA, with adjusted EBITDA loss in Q3 at $600,000 and cash flow from operating activities positive for the quarter.
• Targeting positive adjusted EBITDA as early as year-end, balancing growth initiatives with driving toward solid positive EBITDA.

• Macro-economic, political, and geopolitical uncertainties.
• Government shutdown impacting FDA filings, slowing down government sales associated with filings.
• Dynamic global trade conditions and potential tariff impacts, though steps taken to diversify supply chain to mitigate.