-- Second quarter revenue increased 14% year-over-year to $45.5 million 
 
   -- Commercial Cell & Gene Therapy revenue increased 33% year-over-year to 
      $8.7 million 
 
   -- Life Sciences Services revenue rose 21% year-over-year, including a 28% 
      increase in BioStorage/BioServices revenue 
 
   -- Launched strategic partnership agreement with the DHL Group; closed 
      CRYOPDP divestiture 
 
   -- Company reaffirms full year 2025 revenue guidance of $165 to $172 million 

NASHVILLE, Tenn., Aug. 5, 2025 /PRNewswire/ -- Cryoport, Inc. $(CYRX)$ ("Cryoport" or the "Company"), a leading global provider of temperature-controlled supply chain solutions for the life sciences, today announced financial results for its second quarter (Q2) and first half (H1) of 2025.

Jerrell Shelton, CEO of Cryoport, commented, "Cryoport delivered strong, double-digit growth across all revenue streams within Life Sciences Services in the second quarter, increasing 21% year-over-year and accounting for 54% of total revenue from continuing operations. Notably, revenue from BioLogistics Solutions increased 20% and BioStorage/BioServices revenue rose 28%, underscoring the growing demand for our integrated platform.

"Revenue from the support of commercial cell and gene therapies increased 33% year-over-year to $8.7 million. This growth continues to be fueled by the increasing development and adoption of cell & gene therapies, a positive trend we believe will continue for years to come.

"Life Sciences Products revenue grew 8% year-over-year. This solid performance was primarily driven by stronger demand, particularly from animal health customers.

"The 14% year-over-year increase in total revenue from continuing operations, combined with our planned pathway to profitability, contributed to an increase in gross margin and a meaningful improvement in our adjusted EBITDA. With strong execution across all business units, we are reaffirming our full-year 2025 revenue guidance as we move towards our goal of sustainable, long-term profitability.

"A key milestone this quarter was the launch of our strategic partnership with the DHL Group and DHL's acquisition of CRYOPDP. This transaction with DHL delivered both a strong infusion of capital, a substantial return on investment, and strengthened our global biologistics capabilities and effectiveness. By leveraging DHL's competencies, scale, and reach in APAC and EMEA, we believe we will be increasingly well positioned to expand our Life Sciences Services business and deepen our leadership in the developing global regenerative medicine market.

"In summary, the second quarter was marked by strong revenue growth, improved profitability, and the execution of a transformative partnership strategy. We are entering the second half of the year with strong momentum and a clear focus on driving long-term shareholder value, " concluded Mr. Shelton.

In tabular form, Q2 2025 and H1 2025 revenue compared to Q2 2024 and H1 2024, respectively, were as follows:

 
Cryoport, Inc. and 
Subsidiaries 
Revenue 
(unaudited) 
                                  Three Months Ended                     Six Months Ended 
                                       June 30,                              June 30, 
-----------------------  ------------------------------------  ------------------------------------ 
(in thousands)               2025          2024      % Change      2025          2024      % Change 
Life Sciences Services   $     24,369  $     20,152    21 %    $     47,234  $     39,637    19 % 
-----------------------  ------------  ------------  --------  ------------  ------------  -------- 
BioLogistics Solutions         19,874        16,628    20 %          38,404        32,585    18 % 
BioStorage/BioServices          4,495         3,524    28 %           8,830         7,052    25 % 
-----------------------  ------------  ------------  --------  ------------  ------------  -------- 
Life Sciences Products   $     21,085  $     19,557    8 %     $     39,260  $     37,363    5 % 
-----------------------  ------------  ------------  --------  ------------  ------------  -------- 
Total Revenue From 
 Continuing Operations   $     45,454  $     39,709    14 %    $     86,494  $     77,000    12 % 
-----------------------  ------------  ------------  --------  ------------  ------------  -------- 
 

BioStorage/BioServices revenue continued its strong growth trajectory year-over-year, increasing 28% in Q2 2025 as we continue to introduce our capabilities to existing clients, add new clients into our global network, and as more commercial therapies progress in the number of patients treated.

Revenue from the support of commercial cell & gene therapies increased 33% year-over-year to $8.7 million and included revenue from BioLogistics Solutions and accessories. As of June 30, 2025, we supported eighteen (18) commercial therapies.

As of June 30, 2025, Cryoport supported a total of 728 global clinical trials, a net increase of 44 clinical trials over June 30, 2024, with 82 of these clinical trials in Phase 3. The number of trials by phase and region are as follows:

 
Cryoport Supported Clinical Trials by Phase 
Clinical Trials                    June 30, 
                            ----------------------- 
                             2023     2024    2025 
Phase 1                       273     286     304 
--------------------------  -------  ------  ------ 
Phase 2                       313     322     342 
Phase 3                       82       76      82 
Total                         668     684     728 
--------------------------  -------  ------  ------ 
 
Cryoport Supported Clinical Trials by Region 
Clinical Trials                    June 30, 
                            ----------------------- 
                             2023     2024    2025 
Americas                      515     525     556 
--------------------------  -------  ------  ------ 
EMEA                          109     114     124 
APAC                          44       45      48 
Total                         668     684     728 
--------------------------  -------  ------  ------ 
 

In Q2 2025, one Marketing Authorization Applications $(MAA)$ filing occurred and two Biologics License Applications $(BLA.AU)$ filings have occurred for label/geographic expansions post the quarter end. During the quarter, Cryoport's customer Abeona Therapeutics received U.S. Food and Drug Administration (FDA) approval for their cell therapy ZEVASKYN$(TM)$ , for the treatment of Recessive Dystrophic Epidermolysis Bullosa (RDEB). During the remainder of 2025, we anticipate up to an additional twenty (20) application filings, one (1) new therapy approval and an additional three (3) approvals for label/geographic expansions.

Additionally, in late June 2025, the FDA announced it was removing the Risk Evaluation and Mitigation Strategies (REMS) requirements for approved BCMA- and CD19-directed autologous CAR-T cell immunotherapies. This reduces the regulatory burden and can lead to increased patient access and faster commercial scaling for these therapies. Cryoport-supported therapies such as Carvykti$(R)$ , Yescarta(R) , Tecartus(R) , and Breyanzi(R) are included in this FDA action.

Operational milestones

Life Sciences Services

   -- Continued plans to complete our Global Supply Chain Centers in Paris, 
      France and Santa Ana, California, with Paris expected to begin its launch 
      in late 2025 and Santa Ana in the second half of 2026. 
 
   -- CryoGene opened the first southeast regional automated sample storage 
      center in partnership with Texas Children's Hospital. 
 
   -- Launched our Cryoshuttle service in Tokyo, Japan, supporting multiple 
      commercial therapies. 

Life Sciences Products

   -- MVE Biological Solutions launched its next generation SC 4/2V and SC 4/3V 
      vapor shippers, offering improved safety and reliability for transporting 
      and preserving sensitive biological materials at cryogenic temperatures. 
 
   -- Recorded multiple sales of MVE's cryogenic storage system, the MVE 
      High-Efficiency 800C, which was released earlier this year, meeting the 
      needs of facilities that have limited space for cryostorage yet require 
      high capacity and security. 
 
   -- Deployed the highest number of MVE cryogenic dewars to the animal health 
      industry since 2013. 

Financial Highlights

On June 11, 2025, the Company completed its previously announced divestiture of its specialty courier CRYOPDP business to DHL Supply Chain International Holding B.V. ("DHL") and entered into a strategic partnership with DHL. The divestiture and strategic partnership are expected to enhance the Company's ability to develop its business, particularly in the EMEA and APAC regions, and to provide differentiated and high-value services aligned with Cryoport's long-term growth strategy. The results of CRYOPDP, a former business within Cryoport's Life Sciences Services business, are presented as discontinued operations for all periods presented within the Condensed Statements of Operations and Condensed Consolidated Balance Sheets included in this press release and are also not included in the non-GAAP financial measures presented herein.

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