Cryoport (CYRX) Q4 2025 earnings summary

Executive summary

• FY2025 revenue reached $176.2 million, up 12% year-over-year and above prior guidance, reflecting strong momentum in core and cell and gene therapy markets.

• Supported 760 clinical trials and 20 commercial cell and gene therapies worldwide by year-end 2025, maintaining ~70% market share in CGT clinical trials.

• Strategic partnership with DHL completed, including the sale of CRYOPDP and a significant capital infusion.

• Expanded global partnerships with Cardinal Health and Parexel, and opened new supply chain centers in Paris and Santa Ana.

• Delivered strong gross margin expansion and improved adjusted EBITDA by $12 million year-over-year.

Financial highlights

• FY2025 total revenue grew 12% year-over-year to $176.2 million; Q4 revenue increased 10% year-over-year.

• Gross margin improved to 47.1% for FY2025, up from 44.4% in FY2024.

• Adjusted EBITDA for FY2025 was $(5.8) million, a $12 million improvement from the prior year.

• Life Sciences Services revenue grew 18% year-over-year; BioStorage/BioServices up 22%; Life Sciences Products revenue increased 7%.

• Net income for FY2025 was $78.3 million, driven by a $112.3 million gain from the CRYOPDP divestiture.

Outlook and guidance

• FY2026 revenue guidance is $190–$194 million, representing 8–10% year-over-year growth.

• Positive adjusted EBITDA anticipated in the second half of 2026.

• Anticipates 13 BLA/MAA filings, nine new therapy approvals, and two label/geographic expansions in 2026.

• Guidance is subject to macroeconomic, geopolitical, and industry-specific risks.

• Solid start to Q1 2026, with no significant disruptions expected from geopolitical events.