Strong Double-Digit Revenue Growth
Cryoport reported a 14% overall increase in total revenue from operations, with service revenue growing by 21% year-over-year, accounting for 54% of total revenue from continuing operations.
Commercial Cell and Gene Therapies Revenue Surge
Revenue from commercial cell and gene therapies increased by 33%, highlighting the rising demand for Cryoport's integrated temperature control supply chain platform.
BioStorage/BioServices Growth
BioStorage/BioServices revenue grew by 28%, indicating strong demand for Cryoport's storage and service offerings.
Successful Strategic Partnership with DHL
A strategic partnership with DHL Group was launched, resulting in approximately $200 million in cash payments to Cryoport, enhancing global biologics capabilities and positioning Cryoport for expansion in Asia Pac and EMEA.
Continued Clinical Trial Support
Cryoport supported a record 728 clinical trials, approximately 70% of industry cell and gene therapy trials, with expectations for additional application filings and therapy approvals.
MVE Product Line Expansion
An 8% year-over-year revenue growth was reported in Life Sciences products, driven by demand from animal health customers and the launch of new vapor shippers and cryogenic storage systems.