Cryoport (CYRX) Q4 2025 earnings summary

Executive summary

• Achieved FY2025 revenue of $176.2 million, up 12% year-over-year and above prior guidance, reflecting strong momentum in core markets and leadership in cell and gene therapy.

• Supported 760 active cell and gene therapy clinical trials and 20 commercial therapies by year-end, maintaining approximately 70% market share in CGT clinical trials.

• Strategic partnership with DHL completed, including the sale of CRYOPDP, resulting in a significant capital infusion and CRYOPDP financials now reported as discontinued operations.

• Expanded global partnerships and footprint with Cardinal Health, Parexel, and new supply chain centers in Paris and Santa Ana.

• Ended FY2025 with $411 million in cash and short-term investments, positioning for future growth.

Financial highlights

• FY2025 total revenue grew 12% year-over-year to $176.2 million; Q4 revenue increased 10% year-over-year.

• Gross margin improved to 47.1% for FY2025, up from 44.4% in FY2024.

• Adjusted EBITDA improved by $12 million year-over-year, reaching $(5.8) million for FY2025.

• Life Sciences Services revenue grew 18% year-over-year; BioStorage/BioServices up 22%; Life Sciences Products revenue increased 7%.

• Net income for FY2025 was $78.3 million, driven by a $112.3 million gain from the CRYOPDP divestiture.

Outlook and guidance

• FY2026 revenue guidance is $190–$194 million, representing 8–10% year-over-year growth.

• Positive adjusted EBITDA anticipated in the second half of 2026.

• Expecting 9 new therapy approvals, 13 BLA/MAA filings, and 2 label/geographic expansions in 2026.

• Commercial therapy revenue expected to be the primary growth driver, with continued double-digit growth in services and mid- to high-single digit growth in products.

• Guidance is subject to macroeconomic, geopolitical, and industry-specific risks.