secwatch.observer — SEC 8-K summary
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Issuer:     Cryoport, Inc. (CYRX)
CIK:        0001124524
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001104659-24-058082
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cryoport Q1 revenue falls 13% to $54.6M; net loss widens to $18.9M, adjusted EBITDA negative $7.7M
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- Life Sciences Products revenue dropped 34% YoY to $17.8M, driven by slowdown in MVE cryogenic systems demand.
- Life Sciences Services revenue rose 3% to $36.8M; BioStorage/BioServices up 9%.
- Net loss attributable to common stockholders was $20.9M ($0.43 per share) vs $7.6M ($0.16) a year ago.
- Full-year 2024 revenue guidance reaffirmed at $242-252M; CEO cites cost-reduction initiatives including workforce cuts.
- Cryoport now supports 15 commercial cell & gene therapies; 675 global clinical trials as of March 31, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1124524/000110465924058082/0001104659-24-058082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1124524/000110465924058082/tm2413756d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-058082

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer