---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-080348"
form_type: "8-K"
ticker: "CYRX"
cik: "0001124524"
company_name: "Cryoport, Inc."
filed_at: "2023-07-12T23:59:59+00:00"
generated_at: "2026-06-13T09:18:46.483397+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001104659-23-080348
- form_type: 8-K
- ticker: CYRX
- cik: 0001124524
- company_name: Cryoport, Inc.
- filed_at: 2023-07-12T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1124524/000110465923080348/0001104659-23-080348-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1124524/000110465923080348/tm2321174d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-080348
- JSON: https://secwatch.observer/filing/0001104659-23-080348.json
- Plain text: https://secwatch.observer/filing/0001104659-23-080348.txt

## Key facts
- Earnings Releases
  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
  source text: Second quarter 2023 total revenue is expected to be in the range of $56.5 to $57.5 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1124524/000110465923080348/0001104659-23-080348-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1124524/000110465923080348/0001104659-23-080348-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.