- Second quarter revenue of $57
million, in line with previously announced preliminary
results
- Clinical trials supported by Cryoport increased to a record
668 global clinical trials by quarter end; a net increase of 42 new
trials added year-over-year
- Strong balance sheet with over $500
million in cash and short-term investments
NASHVILLE, Tenn., Aug. 9, 2023
/PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport" or
the "Company"), a leading global provider of innovative
products and services to the fast-growing cell & gene therapy
industry enabling the future of medicine for a new era of life
sciences, today announced financial results for the second quarter
(Q2) and first half (H1) of 2023.
Jerrell Shelton, CEO of Cryoport,
commented, "Today, we reported quarterly revenue results that were
consistent with the preliminary results we previously provided,
which reflected significantly weaker than expected demand for
capital equipment from China and
slower than expected ramps from certain clients during the second
quarter.
"China's economic condition and
a significant drop in orders caused a second quarter decline in MVE
Biological Solutions' China
derived revenue of 67% or $5.8
million year-over-year. For the previous two years the
Chinese market has represented approximately 23% of MVE's total
revenue and 10% of Cryoport's overall revenue. Our leadership team
has recently been to China to meet
with our MVE team based there, along with key clients, and
distributors to reinforce our strengths and relationships. As a
part of this effort, we have devised mitigation plans that we
believe will help to build on MVE's long-term market leading
position.
"We have confidence in our corporate strategy, and we remain
steadfast that our long-term growth drivers are firmly intact,
despite these short term-challenges. Our view is informed and
reinforced by the more than 20% anticipated ten-year compound
annual growth rate of the cell and gene therapy industry and the
increasing number of clinical trials and commercial therapies now
supported by Cryoport. In addition, a number of recent advancements
by our cell and gene therapy clients fuel our optimism, such as the
FDA's (U.S. Food and Drug Administration) approval for
commercial production at Bristol Myers Squibb's new,
state-of-the-art cell therapy manufacturing facility in
Devens, Massachusetts, its
acceptance of CRISPR Therapeutics/Vertex Pharmaceuticals' Biologics
License Applications (BLAs) for exagamglogene autotemcel (exa-cel)
for the treatment of severe sickle cell disease (SCD) and
transfusion-dependent beta thalassemia (TDT), and its approval of
Sarepta Therapeutics' gene therapy ELEVIDYS, for the treatment of
Duchenne Muscular Dystrophy.
"In addition to these client developments, we also continue to
make strategic investments and form relationships to further
enhance our growth prospects. These include the continued build-out
of our Global Supply Chain Center Network, an expanded
infrastructure we are creating that provides the life sciences
industry with the most advanced solutions to ensure the safe and
timely delivery of its extremely valuable, lifesaving cell and gene
therapies. Our bioservices/biostorage network revenue grew 38%
year-over-year to $3.2 million in the
second quarter. We are also making further strides in the
reproductive medicine industry, including recent agreements with
Boston IVF and IVFAustralia as a supply chain solutions partner to
support their global reproductive material shipments.
"With these recent client developments, new services and
products and strategic relationships, we believe our future growth
prospects are stronger than ever. We are committed to continue
solidifying our leadership position in the cell and gene therapy
industry, which is poised for significant expansion as it
transforms the way medicine is practiced. By doing so, we will
further strengthen our business and continue to position Cryoport
for long-term and profitable growth," concluded Mr. Shelton.
In tabular form, revenue by market for Q2 2023 and H1 2023, as
compared to the same periods in 2022 was as follows:
Cryoport, Inc. and Subsidiaries
|
|
|
|
|
|
|
|
Total revenues by market
|
|
|
|
|
|
|
|
(unaudited)
|
|
|
|
|
|
|
|
(in thousands)
|
Q2 2023
|
Q2 2022
|
% Change
|
|
H1 2023
|
H1 2022
|
% Change
|
Biopharma/Pharma
|
$
46,533
|
$
52,591
|
-12 %
|
|
$
97,655
|
$
95,601
|
2 %
|
Animal
Health
|
7,873
|
9,285
|
-15 %
|
|
16,736
|
16,079
|
4 %
|
Reproductive
Medicine
|
2,615
|
2,277
|
15 %
|
|
5,447
|
4,775
|
14 %
|
Total revenues
|
$
57,021
|
$
64,153
|
-11 %
|
|
$ 119,838
|
$ 116,455
|
3 %
|
|
|
|
|
|
|
|
|
As of June 30, 2023, the Company
supported 12 commercial therapies and
a net total of 668 global clinical trials, a net
increase of 42 clinical trials over June 30,
2022 and a sequential increase of 16 clinical trials from Q1
2023. The number of trials in Phase 3 was 82 as of the end of the
second quarter. The number of trials by phase and region are as
follows:
|
|
|
|
Cryoport Supported Clinical Trials by
Phase
|
|
|
|
|
|
|
Clinical Trials
|
June 30,
|
2021
|
2022
|
2023
|
Phase 1
|
227
|
260
|
273
|
Phase 2
|
265
|
285
|
313
|
Phase 3
|
69
|
81
|
82
|
Total
|
561
|
626
|
668
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryoport Supported Clinical Trials by
Region
|
|
|
|
|
|
|
Clinical Trials
|
June 30,
|
2021
|
2022
|
2023
|
Americas
|
444
|
488
|
515
|
EMEA
|
88
|
104
|
109
|
APAC
|
29
|
34
|
44
|
Total
|
561
|
626
|
668
|
|
|
|
|
A total of four Cryoport supported Biologic License Applications
(BLAs) or Marketing Authorization Applications (MAAs) were filed in
the second quarter of 2023. During the remainder of 2023, we
anticipate up to an additional 14 application filings, five new
therapy approvals and an additional nine label or geographic
expansion approvals.
Financial Highlights
Total revenue for Q2 2023 was $57.0
million compared to $64.2
million for Q2 2022, a year-over-year decrease of 11% or
$7.1 million.
- Biopharma/Pharma revenue decreased to $46.5 million, down 12% or $6.1 million for Q2 2023 compared to $52.6 million for Q2 2022. Revenue was impacted
by weaker than expected demand for cryogenic freezer systems,
particularly in China, and slower
than expected ramps from certain clients, partially offset by the
increase in revenue from the support of commercially launched
therapies as well as demand for our bioservices solutions. Revenue
from the support of commercial cell and gene therapies increased by
$0.4 million, or 9.2%, to
$4.3 million and bioservices revenue
increased by $0.9 million, or 38%, to
$3.2 million for Q2 2023.
- Animal Health revenue decreased to $7.9
million, down 15% or $1.4
million for Q2 2023 compared to $9.3
million for Q2 2022, primarily driven by decreased demand
for cryogenic systems.
- Reproductive Medicine revenue increased to $2.6 million, up 15% or $0.3 million for Q2 2023 compared to $2.3 million for Q2 2022. This increase was
driven by strong demand for our CryoStork® logistics
solutions and the onboarding of several fertility services networks
in the United States and
Australia.
Total revenue for H1 2023 increased to $119.8 million compared to $116.5 million for H1 2022, a year-over-year
increase of 3% or $3.4 million and 4%
at constant currency. Revenue for H1 2022 was adversely impacted by
approximately $9.4 million during Q1
2022 from the fire at our New Prague,
Minnesota manufacturing facility.
- Biopharma/Pharma revenue increased to $97.7 million, a gain of 2% or $2.1 million for H1 2023, compared to
$95.6 million for the same period in
2022. Revenue from commercial therapies increased to $9.3 million, a gain of 19% or $1.5 million for H1 2023.
- Animal Health revenue was $16.7
million, an increase of 4% or $0.7
million for H1 2023, compared to $16.1 million for the same period in 2022. This
increase was primarily a result of the revenue shortfall from the
fire at our New Prague, Minnesota
manufacturing facility during Q1 2022.
- Reproductive Medicine revenue increased to $5.4 million, a gain of 14% or $0.7 million for H1 2023, compared to
$4.8 million for the same period in
2022.
Gross margin was 43.4% for Q2 2023 compared to 45.0% for the
same period in 2022. Gross margin was 43.2% for H1 2023 compared to
43.9% for H1 2022.
Operating costs and expenses increased by $9.0 million, or 26% to $43.1 million for Q2 2023 compared to
$34.1 million for Q2 2022. The
increase was primarily attributable to the further build out of our
competencies, infrastructure, and technology development to support
the continuing scaling of our business and demand for Cryoport's
systems and solutions and the evaluation of acquisition
opportunities. Operating costs and expenses increased for H1 2023
by $15.9 million, or 25% to
$80.2 million compared to
$64.2 million for the same period in
the prior year.
Net loss for Q2 2023 and H1 2023 was $18.4 million and $23.9
million, respectively, compared to a net loss of
$9.2 million and $22.6 million for the same periods in 2022,
respectively.
Net loss attributable to common stockholders was $20.4 million, or $0.42 per share, and $27.9
million, or $0.58 per share,
for Q2 2023 and H1 2023, respectively. This compares to a net loss
attributable to common stockholders of $11.2
million, or $0.23 per share,
and $26.6 million, or $0.54 per share, for Q2 2022 and H1 2022,
respectively.
Adjusted EBITDA was a negative $1.5
million for Q2 2023, a decrease of $7.5 million year-over-year. Adjusted EBITDA for
H1 2023 was $1.4 million compared to
$8.0 million for H1 2022.
Cryoport held $504.7 million in
cash, cash equivalents, and short-term investments as of
June 30, 2023.
Note:
All reconciliations of GAAP to adjusted (non-GAAP) figures above are detailed in the reconciliation tables included later
in the press release.
Outlook
Cryoport's revenue for the full year 2023 is expected to be in
the range of $233 - $243 million. The Company's 2023 guidance is
dependent on its current business and expectations, which may be
further impacted by, among other things, factors that are outside
of our control, such as the global macroeconomic environment, the
ongoing effects and after effects of COVID-19 related shut
downs/slowdowns globally, continued supply chain constraints,
inflationary pressures, volatility in the China economy, the ongoing war between
Russia and Ukraine, economic uncertainty and the effects
of foreign currency fluctuations, as well as the other factors
described in the Company's filings with the Securities and Exchange
Commission ("SEC"), including in the "Risk Factors" section of its
most recently filed periodic reports on Form 10-K and Form 10-Q, as
well as in its subsequent filings with the SEC.
Additional Information
Further information on Cryoport's financial results is included
in the attached condensed consolidated balance sheets and
statements of operations, and additional explanations of Cryoport's
financial performance are provided in the Company's Quarterly
Report on Form 10-Q for the three months ended June 30, 2023, which is expected to be filed with
the SEC on August 9, 2023.
Additionally, the full report will be available in the SEC Filings
section of the Investor Relations section of Cryoport's website at
www.cryoport.com.
Earnings Conference Call Information
IMPORTANT INFORMATION: In addition to the earnings
release, a document titled "Cryoport Second Quarter 2023 in
Review", providing a review of Cryoport's financial and operational
performance and a general business update, will be issued at 4:05
p.m. ET on Wednesday, August 9, 2023.
The document is designed to be read in advance of the questions and
answers conference call and will be accessible at
http://ir.cryoport.com/events-and-presentations.
Cryoport management will host a conference call at 5:00 p.m. ET on August 9,
2023. The conference call will be in the format of a
questions and answers session and will address any queries
investors have regarding the Company's reported results. A slide
deck will accompany the call.
Conference Call Information
Date:
|
Wednesday, August 9,
2023
|
Time:
|
5:00 p.m.
ET
|
Dial-in
numbers:
|
1-888-886-7786
(U.S.), 1-416-764-8658 (International)
|
Confirmation
code:
|
Request the "Cryoport
Call" or Conference ID: 85344190
|
Live
webcast:
|
'Investor Relations'
section at www.cryoport.com or click here.
Please allow 10
minutes prior to the call to visit this site to download and
install any necessary audio software.
|
The questions and answers call will be recorded and available
approximately three hours after completion of the live event in the
Investor Relations section of the Company's website at
www.cryoport.com for a limited time. To access the replay of
the questions and answers click here. A dial-in replay of the call
will also be available to those interested, until August 16, 2023. To access the replay, dial
1-844-512-2921 (United States) or
1-412-317-6671 (International) and enter replay entry code:
85344190#.
About Cryoport, Inc.
Cryoport, Inc. (Nasdaq: CYRX), is a global provider of
innovative products and services to the fast-growing Cell &
Gene Therapy industry - enabling the future of medicine for a new
era of life sciences. With 48 strategic locations covering the
Americas, EMEA (Europe, the
Middle East and Africa) and APAC (Asia Pacific), Cryoport's global platform
provides mission-critical bio-logistics, bio-storage,
bio-processing, and cryogenic systems to the life sciences markets
worldwide.
For more information, visit www.cryoport.com or follow @cryoport
on Twitter at www.twitter.com/cryoport for live updates.
Forward-Looking Statements
Statements in this press release which are not purely
historical, including statements regarding the Company's
intentions, hopes, beliefs, expectations, representations,
projections, plans or predictions of the future, are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include, but are not limited to, those related to the
Company's industry, business, long-term growth prospects, including
expected growth in all of the Company's markets, plans, strategies,
acquisitions, future financial results and financial condition,
such as the Company's outlook and guidance for full year 2023
revenue and the related assumptions and factors expected to drive
revenue, projected growth trends in the markets in which the
Company operates, the Company's plans and expectations regarding
the launch of new products and services, such as the expected
timing and benefits of such products and services launches, the
Company's plans to further strengthen its business and continue to
position itself for long-term and profitable growth in the cell and
gene therapy industry, and anticipated regulatory filings or
approvals with respect to the products of the Company's clients. It
is important to note that the Company's actual results could differ
materially from those in any such forward-looking statements.
Factors that could cause actual results to differ materially
include, but are not limited to, risks and uncertainties associated
with the effect of changing economic conditions, including as a
result of the COVID-19 pandemic and its variants, supply chain
constraints, inflationary pressures, the ongoing war between
Russia and Ukraine and the effects of foreign currency
fluctuations, trends in the products markets, variations in the
Company's cash flow, market acceptance risks, and technical
development risks. The Company's business could be affected by a
number of other factors discussed in the Company's SEC reports,
including in the "Risk Factors" section of its most recently filed
periodic reports on Form 10-K and Form 10-Q, as well as in its
subsequent filings with the SEC. The forward-looking statements
contained in this press release speak only as of the date hereof
and the Company cautions investors not to place undue reliance on
these forward-looking statements. Except as required by law, the
Company disclaims any obligation, and does not undertake to update
or revise any forward-looking statements in this press release.
Cryoport, Inc. and Subsidiaries
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations
|
|
|
|
|
|
(unaudited)
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
(in thousands, except share and per share
data)
|
2023
|
2022
|
|
2023
|
2022
|
Revenues:
|
|
|
|
|
|
Service
revenues
|
$
35,204
|
$
34,585
|
|
$
71,040
|
$
67,495
|
Product
revenues
|
21,817
|
29,568
|
|
48,798
|
48,960
|
Total revenues
|
57,021
|
64,153
|
|
119,838
|
116,455
|
Cost of revenues:
|
|
|
|
|
|
Cost of service
revenues
|
20,008
|
19,111
|
|
39,084
|
37,829
|
Cost of product
revenues
|
12,280
|
16,204
|
|
28,949
|
27,447
|
Total cost of revenues
|
32,288
|
35,315
|
|
68,033
|
65,276
|
Gross Margin
|
24,733
|
28,838
|
|
51,805
|
51,179
|
Operating costs and expenses:
|
|
|
|
|
|
Selling, general and
administrative
|
38,802
|
30,563
|
|
72,043
|
57,185
|
Engineering and
development
|
4,263
|
3,522
|
|
8,139
|
7,060
|
Total operating costs and
expenses:
|
43,065
|
34,085
|
|
80,182
|
64,245
|
Loss from
operations
|
(18,332)
|
(5,247)
|
|
(28,377)
|
(13,066)
|
Other income (expense):
|
|
|
|
|
|
Investment
income
|
2,647
|
2,048
|
|
5,114
|
3,312
|
Interest
expense
|
(1,331)
|
(1,586)
|
|
(2,840)
|
(3,077)
|
Other expense,
net
|
(704)
|
(4,028)
|
|
3,301
|
(9,045)
|
Loss before provision
for income taxes
|
(17,720)
|
(8,813)
|
|
(22,802)
|
(21,876)
|
Provision for income
taxes
|
(635)
|
(364)
|
|
(1,127)
|
(705)
|
Net loss
|
$
(18,355)
|
$
(9,177)
|
|
$
(23,929)
|
$
(22,581)
|
Paid-in-kind dividend
on Series C convertible preferred stock
|
(2,000)
|
(2,000)
|
|
(4,000)
|
(4,000)
|
Net loss attributable to common
stockholders
|
$
(20,355)
|
$
(11,177)
|
|
$
(27,929)
|
$
(26,581)
|
Net loss per share attributable to common
stockholders - basic and diluted
|
$
(0.42)
|
$
(0.23)
|
|
$
(0.58)
|
$
(0.54)
|
Weighted average common
shares outstanding - basic and diluted
|
48,709,384
|
48,792,559
|
|
48,536,901
|
49,467,691
|
|
|
|
|
|
|
Cryoport, Inc. and Subsidiaries
|
|
|
Condensed Consolidated Balance
Sheets
|
|
|
|
|
|
June 30,
|
December 31,
|
|
2023
|
2022
|
(in thousands)
|
(unaudited)
|
|
Current assets:
|
|
|
Cash and
cash equivalents
|
$
67,314
|
$
36,595
|
Short-term
investments
|
437,360
|
486,728
|
Accounts
receivable, net
|
43,076
|
43,858
|
Inventories
|
28,821
|
27,678
|
Prepaid
expenses and other current assets
|
8,616
|
9,317
|
Total current assets
|
585,187
|
604,176
|
Property
and equipment, net
|
69,008
|
63,603
|
Operating
lease right-of-use assets
|
30,011
|
26,877
|
Intangible
assets, net
|
194,992
|
191,009
|
Goodwill
|
149,308
|
151,117
|
Deposits
|
1,210
|
1,017
|
Deferred
tax assets
|
934
|
947
|
Total
assets
|
$
1,030,650
|
$
1,038,746
|
|
|
|
Current liabilities:
|
|
|
Accounts
payable and other accrued expenses
|
$
26,124
|
$
28,046
|
Accrued
compensation and related expenses
|
8,717
|
8,458
|
Deferred
revenue
|
927
|
439
|
Current portion
of operating lease liabilities
|
4,234
|
3,720
|
Current portion
of finance lease liabilities
|
191
|
128
|
Current portion
of notes payable
|
61
|
60
|
Total current
liabilities
|
40,254
|
40,851
|
Convertible
senior notes , net
|
407,992
|
406,708
|
Notes payable,
net
|
347
|
355
|
Operating lease
liabilities, net
|
27,520
|
24,721
|
Finance lease
liabilities, net
|
624
|
216
|
Deferred tax
liability
|
4,658
|
4,929
|
Other long-term
liabilities
|
361
|
451
|
Contingent
consideration
|
4,639
|
4,677
|
Total liabilities
|
486,395
|
482,908
|
Total stockholders' equity
|
544,255
|
555,838
|
Total liabilities and
stockholders' equity
|
$
1,030,650
|
$
1,038,746
|
|
|
|
Note Regarding Use of Non-GAAP Financial Measures
To supplement our financial statements, which are presented on
the basis of U.S. generally accepted accounting principles (GAAP),
the following non-GAAP measures of financial performance as defined
in Regulation G of the Securities Exchange Act of 1934 are included
in this release: revenue at constant currency, revenue growth rate
at constant currency and adjusted EBITDA. Non-GAAP financial
measures are not calculated in accordance with GAAP, are not based
on any comprehensive set of accounting rules or principles and may
be different from non-GAAP financial measures presented by other
companies. Non-GAAP financial measures, including revenue at
constant currency, revenue growth rate at constant currency and
adjusted EBITDA, should not be considered as a substitute for, or
superior to, measures of financial performance prepared in
accordance with GAAP.
We believe that revenue growth is a key indicator of how
Cryoport is progressing from period to period and we believe that
the non-GAAP financial measures, revenue at constant currency and
revenue growth rate at constant currency, are useful to investors
in analyzing the underlying trends in revenue. Under GAAP, revenues
received in local (non-U.S. dollar) currency are translated into
U.S. dollars at the average exchange rate for the period presented.
As a result, fluctuations in foreign currency exchange rates affect
the results of our operations and the value of our foreign assets
and liabilities, which in turn may adversely affect results of
operations and cash flows and the comparability of period-to-period
results of operations. When we use the term "constant currency," it
means that we have translated local currency revenues for the
current reporting period into U.S. dollars using the same average
foreign currency exchange rates for the conversion of revenues into
U.S. dollars that we used to translate local currency revenues for
the comparable reporting period of the prior year. Revenue growth
rate at constant currency refers to the measure of comparing the
current reporting period revenue at constant currency with the
reported GAAP revenue for the comparable reporting period of the
prior year.
However, we also believe that data on constant currency
period-over-period changes have limitations, particularly as the
currency effects that are eliminated could constitute a significant
element of our revenue and could significantly impact our
performance. We therefore limit our use of constant currency
period-over-period changes to a measure for the impact of currency
fluctuations on the translation of local currency revenue into U.S.
dollars. We do not evaluate our results and performance without
considering both period-over-period changes in non-GAAP constant
currency revenue on the one hand and changes in revenue prepared in
accordance with GAAP on the other. We caution the readers of this
press release to follow a similar approach by considering revenue
on constant currency period-over-period changes only in addition
to, and not as a substitute for, or superior to, changes in revenue
prepared in accordance with GAAP.
Adjusted EBITDA is defined as net loss adjusted for interest
expense, income taxes, depreciation and amortization expense,
stock-based compensation expense, acquisition and integration
costs, investment income, unrealized (gain)/loss on investments,
foreign currency (gain)/loss, gain on insurance claim and charges
or gains resulting from non-recurring events.
Management believes that adjusted EBITDA provides a useful
measure of Cryoport's operating results, a meaningful comparison
with historical results and with the results of other companies,
and insight into Cryoport's ongoing operating performance. Further,
management and the Company's board of directors utilize adjusted
EBITDA to gain a better understanding of Cryoport's comparative
operating performance from period to period and as a basis for
planning and forecasting future periods. Management believes
adjusted EBITDA, when read in conjunction with Cryoport's GAAP
financials, is useful to investors because it provides a basis for
meaningful period-to-period comparisons of Cryoport's ongoing
operating results, including results of operations, against
investor and analyst financial models, helps identify trends in
Cryoport's underlying business and in performing related trend
analyses, and it provides a better understanding of how management
plans and measures Cryoport's underlying business.
Cryoport, Inc. and Subsidiaries
|
|
|
|
|
|
Reconciliation of GAAP net loss to adjusted
EBITDA
|
|
|
|
|
|
(unaudited)
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
(in thousands)
|
2023
|
2022
|
|
2023
|
2022
|
GAAP net loss
|
$
(18,355)
|
$
(9,177)
|
|
$
(23,929)
|
$
(22,581)
|
Non-GAAP adjustments to
net loss:
|
|
|
|
|
|
Depreciation and
amortization expense
|
6,723
|
5,480
|
|
13,127
|
10,845
|
Acquisition and
integration costs
|
4,372
|
566
|
|
5,629
|
823
|
Investment
income
|
(2,647)
|
(2,048)
|
|
(5,114)
|
(3,312)
|
Unrealized (gain)/loss
on investments
|
1,388
|
3,728
|
|
(36)
|
8,636
|
Gain on insurance
claim
|
-
|
-
|
|
(2,642)
|
-
|
Foreign currency
(gain)/loss
|
(753)
|
271
|
|
(596)
|
431
|
Interest expense,
net
|
1,331
|
1,586
|
|
2,840
|
3,077
|
Stock-based
compensation expense
|
5,800
|
5,258
|
|
10,984
|
9,383
|
Income
taxes
|
635
|
364
|
|
1,127
|
705
|
Adjusted EBITDA
|
$
(1,506)
|
$
6,028
|
|
$
1,390
|
$
8,007
|
|
|
|
|
|
|
Cryoport, Inc. and Subsidiaries
|
|
|
|
|
Total revenues by market at constant currency for the
three months ended June 30, 2023
|
|
(unaudited)
|
|
|
|
|
|
Biopharma/
Pharma
|
Animal
Health
|
Reproductive
Medicine
|
Total
|
(in thousands)
|
|
|
|
|
Non US-GAAP Constant
Currency
|
$
46,710
|
$
7,997
|
$
2,612
|
$
57,319
|
As Reported
|
46,533
|
7,873
|
2,615
|
57,021
|
FX Impact [$]
|
(177)
|
(124)
|
3
|
(298)
|
FX Impact [%]
|
(0.4 %)
|
(1.6 %)
|
0.1 %
|
(0.5 %)
|
|
|
|
|
|
|
|
|
|
|
Cryoport, Inc. and Subsidiaries
|
|
|
|
|
Total revenues by market at constant currency for the
six months ended June 30, 2023
|
|
(unaudited)
|
|
|
|
|
|
Biopharma/
Pharma
|
Animal
Health
|
Reproductive
Medicine
|
Total
|
(in thousands)
|
|
|
|
|
Non US-GAAP Constant
Currency
|
$
98,994
|
$
17,129
|
$
5,453
|
$
121,576
|
As Reported
|
97,655
|
16,736
|
5,447
|
119,838
|
FX Impact [$]
|
(1,339)
|
(393)
|
(6)
|
(1,738)
|
FX Impact [%]
|
(1.4 %)
|
(2.4 %)
|
(0.1 %)
|
(1.5 %)
|
|
|
|
|
|
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SOURCE Cryoport, Inc.