Cryoport (CYRX) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $49.0 million, up 8% year-over-year, driven by 15% growth in Life Sciences Services and 25% growth in BioStorage/BioServices, while Life Sciences Products revenue was flat.

• Supported 779 global clinical trials (94 in Phase 3) and 22 commercial cell and gene therapies as of June 30, 2026.

• Achieved positive adjusted EBITDA of $0.4 million in Q2 2026, a $1.3 million year-over-year improvement, marking a milestone on the path to profitability.

• Net loss attributable to common stockholders for Q2 2026 was $10.3 million ($0.20 per share), improved from the prior year.

• Maintained strong liquidity with $396.7 million in cash, cash equivalents, and short-term investments as of June 30, 2026.

Financial highlights

• Life Sciences Services revenue was $28.0 million (57% of total), up 15% year-over-year; BioStorage/BioServices revenue up 25% to $5.6 million.

• Life Sciences Products revenue was $21.0 million (43% of total), flat year-over-year.

• Gross margin for Q2 2026 was 46.6% (Services: 49.9%, Products: 42.2%).

• Adjusted EBITDA from continuing operations was $0.4 million, up from a loss of $0.1 million in Q2 2025.

• Cash flow from operations was $4.9 million for H1 2026, a $16.6 million improvement year-over-year.

Outlook and guidance

• Full-year 2026 revenue guidance reaffirmed at $192 million–$196 million, reflecting 9–11% organic growth.

• Management expects further margin expansion, operating efficiency, and sustainable long-term growth.

• Anticipates growth from new supply chain centers and product launches, with additional regulatory filings and therapy approvals expected in 2026.

• Current cash and investments expected to cover operational and capital requirements for at least the next twelve months.