Cryoport Q2 net loss $78M including $63.8M goodwill impairment; FY24 guidance cut to $225-235M

Cryoport, Inc.

2024-Q2 EPS reported -$2.05 revenue$112,189,000

Revenue $57.6M (+1% YoY, +5.5% sequentially); Life Sciences Services up 8%, Products down 10%.
GAAP EPS loss $1.62 (diluted); Adjusted EBITDA negative $3.8M vs. negative $1.3M a year ago.
Recorded $63.8M impairment charge related to MVE Biological Solutions goodwill write-off.
FY 2024 revenue guidance revised to $225-235M from prior range; expects positive adjusted EBITDA in 2025.
Announced $200M stock/note repurchase program; repurchased $160M of 2026 convertible notes for $141.6M.

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