Cryoport reports Q4 EPS ($1.31) with items, consensus (29c)

Reports Q4 revenue $57.26M, consensus $58.4M. EPS includes a non-cash impairment charge to goodwill of $49.6M related to the MVE Biological Solutions reporting unit. Cryoport held $456.8M in cash, cash equivalents, and short-term investments as of December 31. Shelton, CEO of Cryoport, commented, “Today we reported full year results including total revenue of $233.3M for the FY23. Our results were within our revenue guidance range, despite the challenging operating environment we experienced throughout the year. Notwithstanding these challenges, there were several bright spots. In 2023, our services business, the core driver of our growth, increased to 62% of total revenue. We also experienced year-over-year growth in our revenues from BioStorage/BioServices and from the support of commercial Cell & Gene therapies of 45% and 33%, respectively, demonstrating strong demand for our services offerings. In addition, we ended the year supporting a record 675 clinical trials worldwide, a net increase of 21 clinical trials over last year with 82 of these in phase 3. We believe our clinical trials portfolio constitutes a significant long-term revenue growth opportunity for Cryoport as more therapies continue to proceed through clinical trials towards commercial approval.”