Cryoport expects Q2 revenue down 11% YoY; slashes FY2023 guidance to $233M-$243M

Cryoport, Inc.

2023-Q2 EPS reported -$0.58 revenue$119,838,000

Preliminary Q2 revenue $56.5M-$57.5M, down ~11% YoY; weak capital equipment demand.
FY2023 revenue guidance revised to $233M-$243M due to slower client ramps and trial delays.
Q2 impact from weaker global demand for capital equipment and clinical trial start delays.
CEO expects challenging conditions to persist into Q3 and Q4 2023.
Long-term outlook remains robust as cell and gene therapy industry CAGR expected >22%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Cryoport, Inc. reported the second quarter ended June 30, 2023 results: revenue $56.5 to $57.5 million.

Period: the second quarter ended June 30, 2023
Revenue: $56.5 to $57.5 million
Result: preliminary results

Exact text from the filing

Second quarter 2023 total revenue is expected to be in the range of $56.5 to $57.5 million

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Cryoport, Inc. reported full year 2023 results: revenue $233 to $243 million. Guidance lowered.

Period: full year 2023
Revenue: $233 to $243 million
Guidance: lowered
Result: guidance update

Exact text from the filing

Based on current information, the Company is revising its full year financial outlook, with revenue now expected to be in the range of $233 to $243 million for 2023.

View on SEC.gov

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Cryoport, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-080348

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