CryoPort Q2 Earnings Call Highlights

CryoPort (NASDAQ:CYRX) reported second-quarter 2026 revenue of $49 million and said it reached positive adjusted EBITDA from continuing operations, while reaffirming its full-year revenue outlook of $192 million to $196 million.

Chief Executive Officer Jerrell Shelton said revenue momentum continued during the quarter, led by the company’s Life Sciences Services segment. Life Sciences Services revenue increased 15% from a year earlier, driven in part by 25% growth at BioStorage BioServices. The segment represented 57% of total quarterly revenue.

The company noted that financial results from CRYOPDP, which was sold to DHL Group in June 2025 as part of a strategic partnership, are presented as discontinued operations. Unless otherwise noted, revenue figures discussed on the call referred to continuing operations.

Cell and Gene Therapy Activity Expands

Revenue from supporting commercial cell and gene therapies rose 9% year over year to $9.4 million. The services portion of that revenue increased 26%, which Shelton attributed to a growing number of patients being treated in community and outpatient settings.

Revenue from cell and gene therapy clinical-trial support increased 12% to $13.4 million. CryoPort supported 779 clinical trials globally at the end of the quarter, up by a net 51 trials from the prior year. Of those trials, 94 were in Phase III.

Shelton said the company supports approximately 70% of clinical trials in the cell and gene therapy industry. The number of commercial therapies supported increased to 22 during the quarter after Orca Bio received FDA approval for TREGZI.

Based on information currently available, the company expects that the remainder of 2026 could include 11 potential biologics license application or marketing authorization application filings, five new therapy approvals and one approval involving a label or geographic expansion.

Chief Scientific Officer Mark Sawicki said financing conditions for cell and gene therapy programs had improved, although investment has been more concentrated in Phase II and Phase III programs than in Phase I studies. He said the focus on later-stage programs was favorable for CryoPort because commercialization activity provides a larger economic benefit to the company.

During the second quarter, CryoPort added 29 clinical trials and removed 16, according to Vice President of Corporate Development and Investor Relations Thomas Heinzen. Of the removed trials, six were terminated and 10 were completed.

Profitability and Cash Flow Progress

CryoPort reported adjusted EBITDA from continuing operations of $400,000, an improvement of $1.3 million from the prior-year quarter. Shelton described the result as an important milestone in the company’s pathway-to-profitability initiative.

Chief Financial Officer Robert Stefanovich said the company expects additional operating leverage as utilization increases across its network of global supply chain centers. He also said CryoPort generated about $5 million in positive net cash from operating activities during the first half of 2026, representing a $17 million improvement compared with the first half of 2025.

The company maintained its revenue forecast despite first-half revenue of about $97 million and a second-quarter result that analysts characterized as ahead of consensus expectations. Shelton said CryoPort considered it prudent to retain the existing outlook because of geopolitical and macroeconomic uncertainties.

Stefanovich said the assumptions underlying the company’s 2026 outlook had remained largely unchanged and that demand for both Life Sciences Services and Life Sciences Products remained robust through the first half.

Products, Facilities and China Strategy

In Life Sciences Products, CryoPort said MVE Biological Solutions benefited from demand from animal health customers and improved demand in the Americas. While products revenue was flat year over year in the second quarter, Shelton said the prior-year period was strong and that the business remained on plan. He said the company continued to expect product growth in the upper single digits for the full year.

MVE began shipping several new products during the quarter, including the MVE Fusion 811 self-regenerating cryogenic freezer, which operates without cryogenic infrastructure or routine liquid nitrogen refills. The company also began producing cryogenic freezers in China and shipped initial orders of HE and open-top models equipped with newly introduced CryoVerse Connect controllers.

Sawicki said the Fusion platform could help community-care hospitals support cell and gene therapies, and that CryoPort has seen significant industry interest in the offering.

China represented about 2% to 3% of CryoPort’s current revenue, Stefanovich said. Shelton said local manufacturing is intended to help the company avoid potential tariff issues and strengthen its competitive position in the country. He added that the company has increased its business-development focus in China, though he does not expect an immediate material contribution.

IntegriCell and Network Expansion

CryoPort said IntegriCell cryopreservation services now has clinical processes operating in Houston and Liège, Belgium. The company was also selected by Verismo Therapeutics to support two clinical-trial CAR T-cell therapy programs.

Sawicki characterized the Houston and Liège locations as proofing sites for a broader IntegriCell initiative. He said the service is expected to ramp modestly through 2026 and is not anticipated to be a significant revenue contributor this year, but could become a meaningful contributor over time as the industry adopts its standardized processes.

The company also plans to open new global supply chain centers in Paris and Santa Ana, California, during the fourth quarter. Shelton said capital investment would decline as those facilities begin operations.

CryoPort is also applying machine learning and generative artificial intelligence tools to automate routine work, analyze large datasets, manage risk and speed decision-making, Shelton said. He said the company has begun seeing measurable productivity benefits from those initiatives.

About CryoPort (NASDAQ:CYRX)

CryoPort, Inc (NASDAQ: CYRX) is a global provider of temperature-controlled logistics solutions for the life sciences industry. The company specializes in cryogenic shipping for critical biological materials, supporting the development, clinical testing and commercialization of cell and gene therapies, biologics, vaccines and reproductive medicine. By offering end-to-end supply chain management, CryoPort helps ensure the integrity and viability of temperature-sensitive products from point of origin to destination.

CryoPort's product portfolio includes proprietary cryogenic dry shippers, advanced active and passive thermal packaging, and real-time data monitoring platforms.

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