Cryoport revenues beat, ups guidance

 

Cryoport posts Q3 2026 GAAP loss of $0.25, misses -$0.19 estimate, while beating revenue and raising 2026 guidance

• Q3 continuing revenue $50.2m, up 14% YoY; services +18%, products +8%.
• Unrealized investment losses drove a below-the-line hit that caused the Q3 GAAP EPS miss.
• Commercial cell and gene therapy revenue grew 20%, now 20% of total company revenue.
• Raised 2026 revenue guidance to $197–199m; midpoint up $4m, implying Q4 $50–52m.
• Company expects about 12% full-year 2026 growth, with guidance excluding upside from new approvals.
• Supporting 23 commercial therapies and record 788 clinical trials, including 99 Phase 3.
• Second consecutive positive adjusted EBITDA at $1.1m, a $1.8m YoY improvement.
• Long-term targets reiterated: 55% gross margin and 30% adjusted EBITDA, leveraging global supply chain centers.
• Some expected 2026 regulatory filings shifted into 2027, underscoring timing risk in therapy approvals.
• China remains small at 3–4% of revenue, stabilizing but without significant near-term growth.
• Management tone confident yet conservative, citing macro and political uncertainties while highlighting strong momentum.
• Main concern: Timing and magnitude of future cell and gene therapy approvals and commercial ramps.
• Strong quarter, driven by robust cell and gene therapy services growth and operating leverage.

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