Cryoport Raises Full-Year Revenue Guidance Again

The Tip Desk · November 11, 2026 · 3 min read

Third-quarter revenue reached $50.2 million as year-over-year growth accelerated to 14% and the company lifted 2026 guidance to $197 million to $199 million.

Cryoport, Inc. (CYRX), a global provider of temperature-controlled supply chain solutions for the life sciences, reported third-quarter revenue of $50.2 million, up 14% from a year earlier, and raised full-year 2026 revenue guidance to a range of $197 million to $199 million.

Year-over-year growth had been 16% in the first quarter and 8% in the second. Chief executive Jerrell Shelton said the results reflected continued momentum across the core cell and gene therapy business, with commercial CGT client revenue up 20%, BioStorage/BioServices revenue up 25%, and total Life Sciences Services revenue up 18%.

Life Sciences Services, 57% of the quarter’s total, was $28.6 million. BioLogistics Solutions revenue was $22.5 million, which the company attributed to continued commercial therapies development and clinical trial progress in the CGT market. BioStorage/BioServices revenue was $6.0 million.

Life Sciences Products revenue was $21.7 million, or 43% of the total, after 0% growth in the second quarter. Shelton said the 8% increase was supported by MVE Biological Solutions’ position as the global market leader in cryogenic systems.

As of September 30, 2026, Cryoport supported a record 788 global clinical trials and 23 commercially approved cell and gene therapies, up from 779 trials and 22 therapies as of June 30. Of the 788 trials, 99 were in Phase 3. The company said two customers filed Biologics License Applications in the third quarter and that it anticipates another five possible BLA or Marketing Authorization Applications in 2026, two possible additional new therapy approvals with PDUFA dates in the fourth quarter, and one possible supplemental geographic expansion.

During the quarter, customer Replimune received accelerated FDA approval for TUDRIQEV for adults with unresectable advanced cutaneous melanoma, and Crispr Therapeutics and Vertex Pharmaceuticals received a supplemental FDA approval expanding the CASGEVY label to people 2 years of age and older with sickle cell disease or transfusion-dependent beta thalassemia. Cryoport Systems initiated BioLogistics services at its new Global Supply Chain Center in Santa Ana, California, a facility the company had planned to open in the fourth quarter. The Paris center received ISO 9001 and ISO 21973 certifications.

Adjusted EBITDA from continuing operations was $1.1 million, compared with a negative $0.6 million a year earlier. The company had also reported positive adjusted EBITDA in the second quarter. Shelton called the third-quarter result another milestone in the company’s pathway to profitability.

GAAP results remained in the red. Loss from continuing operations was $10.9 million, compared with a $6.7 million loss a year earlier. Net loss attributable to common stockholders was $12.9 million, or $0.25 a share. Total gross margin was 47.5%, compared with 48.2% a year earlier. Life Sciences Services gross margin was 50.4% and Life Sciences Products gross margin was 43.6%. Operating costs and expenses were $32.6 million.

Cryoport held $393.1 million in cash, cash equivalents, and short-term investments as of September 30, 2026. The company said its 2026 revenue guidance is dependent on its current business and expectations, which may be impacted by factors outside its control, including the global macroeconomic and geopolitical environment, supply chain constraints, inflationary pressures, tariffs and other trade restrictions, and foreign currency fluctuations.

Shelton said strong year-to-date performance, expanding support of commercial therapies, deepening customer relationships, a robust clinical trial pipeline, and continued demand for MVE’s products give the company confidence in its outlook.