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    CYRX
    Earnings call· Jun 2026(Q2 FY26)

    Cryoport Q2 FY26 earnings call CYRX

    Aug 6, 2026 Source

    Executive summary

    Cryoport Q2 FY26 — Strong Revenue Growth and Positive Adjusted EBITDA Achieved

    Cryoport delivered robust Q2 FY26 results, driven by strong growth in its Life Science Services segment and the achievement of positive adjusted EBITDA, marking a key milestone in its profitability pathway. The company reaffirmed its full-year revenue guidance, balancing strong operational performance with ongoing macroeconomic uncertainties, while continuing to expand its global infrastructure and leverage AI for efficiency.

    Highlights

    5

    • Total revenue reached $49 million, with Life Science Services growing 15% YoY.

    • Achieved positive adjusted EBITDA of $400,000, an improvement of $1.3 million YoY.

    • Total clinical trial count increased by 51 YoY to 779, with 94 in Phase III.

    • Generated $5 million in positive net cash from operating activities in H1 2026, a $17 million improvement YoY.

    • Expanded IntegraCell Cryopreservation Services to Houston and Liège, securing Verismo Therapeutics as a client.

    Concerns

    2

    • Reiterated full-year revenue guidance of $192M-$196M despite strong H1, citing geopolitical and macroeconomic uncertainties.

    • Product growth was flat in Q2 due to a strong prior-year comparable, though expected to be upper single digits for the full year.

    Guidance & targets

    7
    CategoryTargetConfidence
    Full-year revenue
    $192 million to $196 million
    high materiality
    High
    BLAMAA application filings
    11 possible
    medium materiality
    Medium
    New therapy approvals
    5 additional
    medium materiality
    Medium
    Label and/or geographic expansion approvals
    1 additional
    medium materiality
    Medium
    Products growth
    upper single digits
    medium materiality
    High
    Adjusted EBITDA
    continue progressively
    high materiality
    High
    IntegraCell revenue contribution
    not significant
    low materiality
    High

    Segment performance

    2
    SegmentRevenueYoYQoQMargin
    Life Science Services
    Revenue represented 57% of total revenue for the quarter. Growth was driven by bio storage bioservices and increased patient treatments in community settings.
    Bio storage bioservices growth: 25%Commercial cell and gene therapy support revenue: $9.4 millionCommercial cell and gene therapy services revenue growth: 26% YoYCell and gene therapy clinical trials revenue: $13.4 millionCell and gene therapy clinical trials revenue growth: 12%
    		$27.93 million15%——
    Life Science Products (MVE)
    Product growth was flat in Q2 due to a strong comparable quarter last year, but the business is performing well and is a consistent cash flow generator. First half growth was 7%.
    Market leader in cryogenic systemsStrong demand from animal health customersImproved general demand from Americas region
    		—flat——

    Operational metrics

    9
    Total revenue (continuing operations)
    $49 million
    Q2 FY26

    Refers to continuing operations, excluding CryoPDP.

    Adjusted EBITDA (continuing operations)
    $400,000improved by $1.3 million YoY
    Q2 FY26

    Achieving positive adjusted EBITDA is an important milestone in the Pathway to Profitability initiative.

    Commercial cell and gene therapies supported
    22
    Q2 FY26

    Includes Orca Bio's recently FDA-approved Tregsy.

    Total clinical trial count
    779net increase of 51 YoY
    Q2 FY26

    Represents approximately 70% of the cell and gene therapy industry's clinical trials.

    Phase III clinical trials
    94
    Q2 FY26

    Part of the total clinical trial count.

    Clinical trial adds
    29
    Q2 FY26

    New trials added during the quarter.

    Clinical trial removals
    16
    Q2 FY26

    Trials removed during the quarter, split between terminations and completions.

    Revenue from China
    2% to 3%
    Q2 FY26

    Represents a small portion of total revenue, with significant upside potential.

    First half revenue
    $97 million
    H1 2026

    Used as a baseline for full-year guidance discussion.

    Industry KPIs

    5
    MetricValueDetails
    Revenue EPS guidance$192 million to $196 millionUSD
    China revenue exposure2% to 3%%
    M a contribution synergiesCryoPDP sold to DHL
    Segment organic revenue growth15%%
    Instruments vs consumables services mix57%%

    Product announcements

    4
    ProductTypeDetails
    MVE Fusion 811 self-regenerating cryogenic freezerlaunch
    Cryogenic freezers in China (models HE and OpenTops with Cryoverse Connect controllers)launch
    Global Supply Chain Center in Paris, Francelaunch
    Global Supply Chain Center in Santa Ana, Californialaunch

    Deals & partnerships

    2
    DHL GroupSale of CryoPDP

    CryoPDP was sold to DHL in June 2025, leading to its financials being reported as discontinued operations.

    Verismo TherapeuticsSupport for CAR-T cell therapy programs

    Verismo Therapeutics selected Cryoport's IntegraCell services to support its two clinical trial CAR-T cell therapy programs.

    Risks & headwinds

    3
    Geopolitical and macroeconomic uncertaintiesFY26

    Implied slower H2 growth relative to H1

    Mitigation: Prudent to hold guidance; focus on strong fundamentals and operational execution.

    Industry adaptation to new services (IntegraCell)Near-term

    Not a significant revenue contributor for 2026

    Mitigation: Acknowledged that industry changes take time due to regulatory procedures, SOPs, and quality requirements; continued focus on proving sites and demonstrating value.

    Softer funding for Phase I clinical trials

    Most money going into Phase II and Phase III programs

    Mitigation: Focus on supporting later-stage trials which offer substantial economic benefit upon commercialization.

    What to watch in Q3 FY26

    5

    Adjusted EBITDA

    Coming quarters (Q3 FY26)
    CurrentPositive $400,000
    TargetFurther increase

    Why it matters

    Continued improvement is key to the "Pathway to Profitability" initiative and demonstrates operating leverage.

    believe these results will continue progressively over the coming quarters and that we were, are posi, we're positioned to drive more efficiencies more scale in our operations, and continued margin expansion, thereby delivering sustainable, profitable growth.

    Q&A highlights

    6

    Why reaffirm guidance despite strong H1, implying a slower H2? Is it conservatism or specific headwinds?

    Management cited geopolitical and macroeconomic uncertainties as reasons for holding guidance. They expressed satisfaction with performance and ongoing implementation of plans, noting strong fundamentals.

    “given the The geopolitical situation, the macroeconomics that are associated with that, we think it's prudent to hold our guidance to where it is today. There are just a lot of uncertainties in the world.”

    asked by Puneet Sudha (Philip Bond) · answered by Unknown Speaker

    2 min read6 chapters

    Detailed Narrative

    01

    Strategic Infrastructure Expansion

    Cryoport is significantly expanding its global supply chain network with new state-of-the-art facilities. A bio services operation and global supply chain center are set to launch in Paris, France, in Q4, alongside a new global supply chain center in Santa Ana, California, also in Q4. These facilities are expected to enhance the company's ability to deliver advanced temperature-controlled solutions worldwide.

    02

    Innovation in Cryogenic Systems

    MVE Biological Solutions introduced new products, including the MVE Fusion 811 self-regenerating cryogenic freezer, which operates without the need for cryogenic infrastructure or routine liquid nitrogen refills. The company also commenced cryogenic freezer production in China during Q2, shipping initial orders of HE and OpenTops models equipped with Cryoverse Connect controllers, aligning with its goal to make all products "smart" and data-generating.

    03

    Advancements in AI and Digital Strategy

    Cryoport is actively integrating AI and machine learning into its operations to boost productivity and advance its enterprise technology strategy. Generative AI is being deployed to automate routine tasks, analyze large datasets, manage risk, and expedite decision-making, with a "human in the loop" approach. Employees are also being equipped with enterprise-approved generative AI tools, already yielding measurable results.

    04

    IntegraCell Service Adoption

    The IntegraCell Cryopreservation Services have established clinical processes in Houston, Texas, and Liège, Belgium, serving as "proofing sites" for a broader initiative. While not expected to be a significant revenue contributor in 2026, it is seen as a cutting-edge service offering that will help standardize and scale the cell therapy industry, with Verismo Therapeutics recently selected as a client for two CAR-T cell therapy programs.

    05

    China Market Strategy

    Cryoport views China as a strategically important market, currently representing 2-3% of total revenue. The company's product strategy involves in-country production to mitigate tariff impact🌐s and enhance competitiveness. While the product side is progressing, the strategy for the service side of the business in China is still under development.

    06

    Clinical Trial Landscape

    The financing environment for biotechs has improved, with capital primarily flowing into Phase II and Phase III clinical programs, while Phase I remains softer. This trend is favorable for Cryoport, as it supports the advancement of therapies towards commercialization, which offers substantial economic benefits. In Q2, there were 29 new trial additions and 16 removals (6 terminations, 10 completions).

    AI-generated summary of the company’s earnings call. Not investment advice.