Life Sciences Services revenue grew 18% year-over-year in FY 2025, including a 22% rise in BioStorage/BioServices revenue
Commercial cell and gene therapy revenue increased 29% year-over-year to $33.4 million in FY 2025
Supported a record 760 global clinical trials and 20 commercially approved therapies as of December 31, 2025
Full-year 2026 revenue guidance of $190 million to $194 million (8%-10% growth y-o-y)
NASHVILLE, Tenn., March 3, 2026 /PRNewswire/ -- Cryoport, Inc. (NASDAQ:CYRX) ("Cryoport" or the "Company"), a leading global provider of integrated temperature-controlled supply chain solutions for the life sciences, today announced financial results for its fourth quarter (Q4) and year ended (FY) December 31, 2025.
Jerrell Shelton, CEO of Cryoport, commented, "2025 was a year of strong progress for Cryoport. We delivered full-year revenue of $176.2 million, exceeding the high end of our previous guidance and reflecting continued momentum across our core markets. We achieved double-digit revenue growth driven by expanding cell and gene therapy ("CGT") activity, with revenue from the support of commercial CGTs increasing 29% year-over-year to a record $33.4 million for FY 2025. Revenue from the support of clinical trials also remained solid, growing 14% to $47.1 million for FY 2025. At year-end, we supported a record 760 global clinical trials, representing approximately 70% of CGT trials. We believe our leadership position across both clinical and commercial programs, and the breadth of the development pipeline we support, provide a substantial foundation for sustained long-term growth.
"We continued to execute on our strategy of expanding our revenue streams and capturing more revenue per client as our Life Sciences Services revenue increased 18% year-over-year for FY 2025, including 22% growth in BioStorage/BioServices revenue. This performance reflects the expanding scale of the clinical and commercial programs we support and the increasing value customers place on our differentiated high-end supply chain solutions. While our primary focus remains on accelerating revenue growth and strengthening our market position, we continue to enhance operational discipline across the organization as we advance on our pathway to profitability. In 2025, our cost reduction initiatives contributed to our consolidated gross margin of 47% and a $12 million year-over-year improvement in adjusted EBITDA from continuing operations.
"Despite macro challenges, our Life Sciences Products segment grew 7% year-over-year and continues to support our Services businesses. MVE Biological Solutions' (MVE) focus on innovation and execution continues to further enhance its position as the global leader in the production of high- quality cryogenic systems. Recently MVE introduced integrated Condition Monitoring Solutions for its dry vapor shippers and also launched the Fusion® 800 Series, a revolutionary self-sustaining cryogenic freezer that can fit through a single door, which opens up substantial market opportunities.
"We also increased our investments into Cryoport Systems to support the traction that we are seeing across our broad portfolio of CGT clients. These targeted investments include the launch of our Global Supply Chain Center in Paris, France, the expansion of our Belgian operations to accommodate a key commercial client, and the facility buildout to consolidate three existing facilities in Irvine, California into one expansive Global Supply Chain Center in Santa Ana, California.
"Importantly, in 2025 we formed a strategic partnership with DHL Group, which included DHL's acquisition of CRYOPDP, providing a substantial capital infusion. Over time, we believe this relationship will enhance our positioning in the EMEA and APAC regions and strengthen our competitive industry profile. As part of our continuing strategic initiative to embed our market-leading solutions into the CGT ecosystem and improve our growth trajectory, we expanded our global partnerships by entering into strategic collaborations with Cardinal Health and Parexel.
"As we enter 2026 and balance the global macro puts and takes, we believe that our full-year revenue guidance of $190 million to $194 million is an appropriate starting point for the year," concluded Mr. Shelton.
In tabular form, Q4 2025 and FY 2025 revenue compared to Q4 2024 and FY 2024, respectively, were as follows:
Cryoport, Inc. and Subsidiaries
Revenue
Three Months EndedDecember 31,(unaudited)
Years EndedDecember 31,
(in thousands)
2025
2024
% Change
2025
2024
% Change
Life Sciences Services
$ 25,005
$ 21,476
16 %
$ 96,497
$ 82,044
18 %
BioLogistics Solutions
20,305
17,479
16 %
78,137
67,019
17 %
BioStorage/BioServices
4,700
3,997
18 %
18,360
15,025
22 %
Life Sciences Products
$ 20,445
$ 19,976
2 %
$ 79,680
$ 74,725
7 %
Total Revenue
$ 45,450
$ 41,452
10 %
$ 176,177
$ 156,769
12 %
BioLogistics Solutions revenue increased 17% year-over-year for FY 2025, supported by increasing customer activity and program advancement within the CGT market. BioStorage/BioServices revenue continued to experience strong year-over-year growth, increasing 22% for FY 2025, reflecting our clients' interest in our expanded and integrated services offering that provides a seamless and secure handling of temperature-sensitive materials through our global network.
Revenue from the support of commercial CGTs increased 29% year-over-year to $33.4 million and we supported twenty (20) commercial therapies as of December 31, 2025.
As of year-end, Cryoport supported a total of 760 global clinical trials, a net increase of 59 clinical trials over FY 2024, with 86 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
December 31,
2023
2024
2025
Phase 1
282
299
313
Phase 2
311
321
361
Phase 3
82
81
86
Total
675
701
760
Cryoport Supported Clinical Trials by Region
Clinical Trials
December 31,
2023
2024
2025
Americas
519
537
571
EMEA
112
116
138
APAC
44
48
51
Total
675
701
760
In Q4 2025, five Biologics License Applications (BLA) / Marketing Authorization Applications (MAA) filings occurred. Post quarter-end, two additional BLA filings have occurred. During the fourth quarter, Cryoport's customer, Fondazione Telethon received FDA approval for their gene therapy Waskyra for the treatment of Wiskott-Aldrich Syndrome (WAS). During the fourth quarter, Bristol Myers Squibb received supplemental approval from the European Commission (EC) to expand the label of Breyanzi® as a third line treatment for relapsed or refractory follicular lymphoma. Lastly, in late December, Cryoport's customer Inovio Pharmaceuticals' BLA filing for INO-3107 was accepted by the FDA as a potential treatment for adults with Recurrent Respiratory Papillomatosis (RRP). For 2026, we anticipate 13 BLA/MAA application filings (including the two already filed), nine new therapy approvals and an additional two approvals for label/geographic expansions. In the near term, Cryoport has three clients that are anticipating new therapy approval decisions in March and April 2026.
Operational milestones
Life Sciences Services
Launched state-of-the-art Global Supply Chain Center at the Charles de Gaulle airport in Paris, France, with our fourth Global Supply Chain Center in Santa Ana, California targeted for opening in late 2026.
IntegriCell®, with cryopreservation service centers located near Liège, Belgium and in Houston, Texas, onboarded its first clients from whom we will have revenues throughout 2026.
Launched cGMP sterile fulfillment/kitting services out of our Liège, Belgium facility supporting manufacturing needs for a key commercial client and the broader market.
Cryoport Systems successfully achieved certification under ISO 21973:2020, the international standard for transportation of cells for therapeutic use published by the International Organization for Standardization (ISO), underscoring its commitment to safety and traceability within supply chain management of the rapidly expanding CGT industry.
Life Sciences Products
MVE Biological Solutions (MVE) introduced its integrated Condition Monitoring Solutions for its SC 4/2V and 4/3V dry vapor shippers, combining MVE's trusted cryogenic systems with advanced, real-time condition monitoring technology supplied by Tec4med, a Cryoport company.
MVE launched its new Fusion® 800 Series, the next evolution of MVE's patented, award-winning Fusion technology, a self-sustaining cryogenic freezer that eliminates the need for a continuous liquid nitrogen (LN₂) supply, delivering exceptional reliability, safety, and sustainability in a compact footprint designed for space-constrained environments.
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") as a part of 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 segment, are presented as discontinued operations for all periods presented within the Condensed Consolidated 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.
Revenue
Total revenue for Q4 2025 was $45.5 million, compared to $41.5 million for Q4 2024, a year-over-year increase of 10%, or $4.0 million.
Life Sciences Services revenue for Q4 2025 (representing 55% of our total revenue) was $25.0 million, compared to $21.5 million for Q4 2024, up 16% year-over-year, including BioStorage/BioServices revenue of $4.7 million, up 18% year-over-year.
Life Sciences Products revenue for Q4 2025 (representing 45% of our total revenue) was $20.4 million, compared to $20.0 million for Q4 2024, up 2% year-over-year.
Total revenue for FY 2025 was $176.2 million, compared to $156.8 million for FY 2024, a year-over-year increase of 12%, or $19.4 million.
Life Sciences Services revenue for FY 2025 was $96.5 million, compared to $82.0 million for FY 2024, up 18% year-over-year, including BioStorage/BioServices revenue of $18.4 million for FY 2025, compared to $15.0 million for FY 2024, up 22% year-over-year.
Life Sciences Products revenue for FY 2025 was $79.7 million, compared to $74.7 million for FY 2024, up 7% year-over-year.
Gross Margin
Total gross margin was 47.8% for Q4 2025, compared to 47.0% for Q4 2024.
Gross margin for Life Sciences Services was 48.6% for Q4 2025, compared to 48.8% for Q4 2024.
Gross margin for Life Sciences Products was 46.8% for Q4 2025, compared to 45.1% for Q4 2024.
Total gross margin was 47.1% for FY 2025 compared to 44.4% for FY 2024.
Gross margin for Life Sciences Services was 48.8% for FY 2025, compared to 46.9% for FY 2024.
Gross margin for Life Sciences Products was 45.2% for FY 2025, compared to 41.7% for FY 2024.
Operating Costs and Expenses
Operating costs and expenses were $31.7 million for Q4 2025, compared to $32.2 million for Q4 2024. Operating costs and expenses for FY 2025 decreased to $119.9 million, compared to $191.3 million for FY 2024. The decrease for FY 2025 reflects an impairment charge of $63.8 million in Q2 2024, which was primarily related to the write off of remaining goodwill for MVE. Excluding the impairment charge, non-GAAP adjusted operating costs and expenses for FY 2025 were $119.9 million, compared to $127.5 million for FY 2024.
Loss from Continuing Operations
Loss from continuing operations was $8.5 million for Q4 2025, compared to a loss of $17.2 million for Q4 2024. Loss from continuing operations for FY 2025 was $34.0 million compared to a loss of $104.7 million for FY 2024.
Net Income (Loss), including Discontinued Operations
Net loss for Q4 2025 was $11.6 million and net income for FY 2025 was $78.3 million, compared to net losses of $18.7 million and $114.8 million for the same periods in 2024, respectively. Net income for FY 2025 was primarily driven by the divestiture of our CRYOPDP specialty courier business during Q2 2025, which contributed $112.3 million, net of taxes, to income from discontinued operations.
Net loss attributable to common stockholders for Q4 2025 was $13.6 million, or $0.27 per share. Net income attributable to common stockholders for FY 2025 was $70.3 million, or $1.40 per share. This compares to net losses attributable to common stockholders of $20.7 million, or $0.42 per share, and $122.8 million, or $2.49 per share, for Q4 2024 and FY 2024, respectively.
Non-GAAP adjusted ...
