Fri, Mar 7, 10:03 PM (51 days ago)
**Cryoport, Inc. (CYRX) 10-K Summary for the Year Ended December 31, 2024** Cryoport, Inc. reported total revenues of $228.4 million, down 2.1% from $233.3 million in 2023. Life Sciences Services revenue increased by 6.6% to $153.7 million, driven by strong demand in BioStorage/BioServices. However, Life Sciences Products revenue fell 16.2% to $74.7 million, primarily due to decreased demand for cryogenic systems. The company incurred a net loss of $114.8 million, compared to a loss of $99.6 million in the previous year, impacted by a $63.8 million impairment charge related to goodwill for the MVE reporting unit. Operating expenses rose slightly to $230.5 million, primarily due to increased employee costs. The gross margin improved to 43.6%, up from 42.6% in 2023. Cryoport’s cash and cash equivalents stood at $45.3 million, with total liabilities of $301.6 million, reflecting significant debt levels. The company repurchased $160 million of its Convertible Senior Notes, leading to a net gain on extinguishment of debt. Looking ahead, Cryoport continues to focus on expanding its market presence and enhancing its integrated temperature-controlled supply chain solutions, particularly in the cell and gene therapy space, while navigating ongoing risks including regulatory changes and economic fluctuations.