Earnings call transcript Q4 2022

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Operator

Good afternoon, and welcome to Cryoport's Fourth Quarter and Full Year 2022 Earnings Conference Call. All participants will start in a listen-only mode. A brief question-and-answer session will follow the format presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I will now turn the call over to your host, Todd Fromer, from KCSA Strategic Communications. ahead. go Please

Todd Fromer

operator. Thank you,

that begin currently statements that, today, All to we and not forward-looking or would that in and anticipate the assumptions, future to based I conference call on our everyone are management developments events this performance, statements. These our remind expect contains team. or address occurring available forward-looking Before statements. operating like information we are certain statements beliefs on forward-looking management's

these forward-looking made. that are reasonable Our when believes management statements as and team

a statements However, undertake on future or you when should any publicly statements law. such not otherwise result or not required only events as by revise place obligation any undue forward-looking of as reliance statements, as or new because speak do forward-looking update, date information, the of except to made. We any such whether

the subject our are actual those Factors from in Exchange those materially Securities risks statements Risk not and elsewhere experience results, forward-looking and or include, limited in and but and are uncertainties uncertainties cause Exchange from developments events addition Report to to other to reports differ the with XA projections. These on present that file the Form Securities Commission with Item Annual our in XX-K described time-to-time we historical Commission. could risks filed, certain and In expectations our and described and and

call Jerrell over now floor Mr. Chief the is Officer to Jerry, to turn of the yours. It is my pleasure Executive Shelton, Cryoport.

Jerrell Shelton

Scientific Stefanovich; Dr. of With us our Chief is, you Development ladies Mark gentlemen. Vice and Heinzen. appreciate today. Sawicki; our and Officer Investor Financial our joining and earnings our afternoon Todd, call Relations, afternoon good Chief and you, Officer, Robert Corporate President Thank Thomas this We

and year of a section. business Events be and It our we Relations fiscal operational a performance, and our document under to document general provides website. review and found This uploaded the and full XXXX Presentations can review our a fourth quarter Investor As reminder, have in financial outlook.

chance I are our website our future. and we to go of you in and not undertaking If assure the read a pathway terms encourage you our to to development is initiatives would had it, as elucidating download it it have to

Now, in a our on with XXXX total we'll Today, to brief provide of I'd by to like and finish revenue we revenue to Systems. Cryoport then on your a business, led from update XX% $XXX.X answering increase solid move a million reported questions. record

of strong Cryoport gene Our was fueled suite growth strong and services annual comprehensive the by at and cell in for growth products Systems and our demand market. therapy

end of the of At with eight XX since the year-end clinical the the therapies, also of total At since gain commercial XX of in an increase a supported trials net Phase XXXX. trials year-end XXX XXXX clinical year, we end supported worldwide, year, trials a XX X. and of these we from

geographic expansion we new Further, XX commercial a XX XX and XX anticipated label in filings, of industry approvals therapy additional to of total of for to approvals an result in or application anticipated an a XXXX. forecast therapies our XXXX, as anticipate XX up additional supporting approvals combined up

dosage pause capacity therapy for cell issues. in supply ancillary shipment revenue The of manufacturing biostorage to segments their clients' remained one partially as sequentially, therapeutic a separate development of while to regenerative continued ramp fastest-growing our Asian in our a constraints market to medicine shortages the robust chain its demand impacted commercial client therapy continued of XXXX Fludarabine due due the was and

development will industry we for supply growth. of continue demand. in greater support expect XXXX. activity our therapies to patient as chain recent market pent-up time, order increase Having as that of the said that, therapies capacity the meet in Over the well will new in cell has manufacturing set advancement solutions the and does, Cryoport gene the introduction gene cell into levels the advanced of as And lead and temperature-controlled way it the to will the stage

many informatic our grow $XX.X rate supply investments expect offerings of achievement chain designed manufacturing at strategic year reflected Part today and our growth. Cryoport to life the bioservice Medicine which global analysts annual is are manufacturing capacity we marked EBITDA significant XX% market. to the adjusted foreseeable the the market gene specifically XXXX growth of reason in for million compounded support to for Regenerative to center our a Notwithstanding, XX% the and cell that over constraints is sciences our of the continue capabilities and actions confidence year, further our for expand solutions end-to-end These current for therapy accelerate future. chain supply as to competencies, build market make capacities significant out and network, the to supporting a

investments, To our Our supply of investments June are New operations with we employ position located support cell diverse provide labeling, to our two are streams. first secondary Morris designed GMP therapy Jersey. in XXXX, designed to examples to kitting and Texas cutting-edge our state-of-the-art combined technologies with Bioservices and global that Houston, some storage create with centers opened revenue providing strengthen and facilities and fulfillment. These Plains, advanced of and in logistics gene you chain new market

benefits. process novel value Clients have its are acknowledge already these who facilities enjoying those of already in the services to qualifying our others join of and are the begun to

quarter Cryosphere of the SkyTrax monitoring line shippers of Elite launch a system we they number officially a the strengthened Ultra next We and Cold revolutionary we generation of second have announce as will have and condition which of includes during Elite mature. pipeline the of XXXX. also new the we Solutions, continue innovation Biological the that initiatives will At Cryoport Elite development MVE which the and

we to be And expanding have continue as San Spain. XXXX. India world the CRYOPDP logistics not has and in Ireland, biopharma CRYOGENE forgotten Philadelphia Poland build opportunities the biostorage will Antonio advanced out during Regarding our XXXX into network and expanded in the Japan, operations markets most growth global which we and in into for

Cell France acquired for and network in center Cell&Co chain for global Our targeted strategic to operation EMEA into of platform. acquisition launching the expand included us our The such supply foothold Paris. was Cell&Co in Matters initiatives and Matters XXXX a acquisitions provide expertise in we cryopreservation soon that biorepository during Belgium. Bioservices first-class will as IntegriCell our Cell provided

to service offer will important gene time manufacture This which autologous and cell cryopreservation therapy IntegriCell to from leukapheresis the biopharma it a materials industry is be able derived consistent first higher-quality starting will manufacturers the allogeneic collection to cell end-to-end therapy will therapies. as cell apheresis therapies. standardized the gene and and for source their and be

XXXX to are globally Our actions growth. development were cell drive a in therapies. an lay us support strong of support the and needs foundation unmatched of rapid a gene development The and the initiatives advancement our to long-term industry advancing requirements our and capability very help to continually technologies commercial gives step meet that in clinical to designed of

actions $XXX at line of we year the XXXX our and in midpoint XXXX are to XXXX, revenue. range represents impact growth in $XXX This the Considering planned revenue million of top providing of the million. XX% initiatives these guidance over a full

expectations improving exciting the with our initiatives. reflects macro a of our development and demand continued of conditions of outlook XXXX continued array Our solid environment,

We team XXXX as this fantastic we position and balance As stronger cash Cryoport position is a leadership and New been are and XXXX enter it Year, growth about a prospects. has long-term we of and with than in into today, sheet, confident industry closed our believe a successful motivated excited people. XXXX headed a never strong highly we

and ability there that Our to commercialization. continually such and swift global therapies. and us range company growth to from gene comprehensive offers unmatched a that the think wide support We any not other therapies the infrastructure technology life-saving these is of to end-to-end advancing support footprint solutions of critical do cell gives research

Operator? questions. happy we'll to Now, be take your

Operator

Thank you.

[Operator first the will be with go question conducting Instructions] from session. We a Puneet Please is SVB Souda ahead. Our question-and-answer of Securities. line now

Michael Almisry

Puneet. reflecting of therapies coming is new recovery more XXXX. some was a I much with in in to have is guide. much in wondering, strong strength XXXX. was after a on a MVE CRYOPDP to the these And how I online? clinical Congrats finish commercial on for some you or Hi, how this clarity bit hoping on of start and getting Michael hiccups trials

Jerrell Shelton

answer that I'll question. let Robert

Robert Stefanovich

we conviction Yeah. couple to CRYOPDP, of a the 'XX over Maybe at revenue where where we strong at our mind. loss. the on you in growth It's A about in you them we high to have look XX% yes, a MVE, of XXXX. we just at QX XX% have and growth. few on things double-digit had back of $X.X guidance. Prague couple if did go things an things, facility, But midpoint look do have damage fire One, growth revenue just end the million last some a and New unanticipated of One, the range. year, we headwinds expect And of MVE to the the if had do guidance. at

look that to about to XX% a constant be number it 'XX and If we at you were with rate, that add will currency at back currency the add constant back.

new more place during of then Houston bioservice of with So which talked achievable. in and adds this put product New in about certainly the of in importantly and acquisition Europe in if XX% our that Jerry number the midpoint introductions XXXX Jersey, expanding year. key of compare that you some But it's initiatives the a we've bioservices Cell&Co and QX capabilities

XXXX. All of the revenue these growth will contribute to in

realize. So important to I that's think

trial other clinical of filings, seeing that the supporting. not clinical as in into approvals be in seen expected maturation well is, we'll basis, as and only advancement we're trials, you've growth also into but The the clinical of part as trials growth the

So really base dynamics allows market kind for XXXX. our that us within the there's drive our of customer within to revenue growth significant

Michael Almisry

That a building expect there's I the of you're was we any I network sort clarifies bit. incremental you gross little should curious, OpEx as capacity now. also online? to great. drive right if a global and had comes And question contribution expect what that then bioservice just new margin All about

Robert Stefanovich

terms target. gross overall margin bioservices, we're quite Clearly, couple of margin yet Well, is still in of gross of general We're contribution the things. there XX.X% a not with our in That margins. expecting XX%. of targeted

space. supporting to at all is the certainly, those are designed margin therapy really revenue to revenue capture to initiatives overall of Bioservices on chain, components. cell one accretive a service. of based our temperature-controlled and supply And look margin, contribution opportunity. bioservices, And capture our the along you that gene expect we be If the it's the significant

in, fully In Cryoport At this have have think audits. and their clients audit we capabilities, every week. at before to staffed we them point, do I bioservices you have terms in come we of can set we baked the Systems, an those Jersey, these at talked up while look expenses, been as already QX, because about New in have operating if Houston and

really So on and that movement further the bioservices. the demonstrates interest

Michael Almisry

MVE If unwinding. you some with have know I Okay, I'm thoughts some one having any there. have I China. color if the last the we've of any you in curious curious could mentioned zero just and headwinds quarter to great. COVID from squeeze more. heard was if I players just closure just Chengdu tools other headwinds you on

Jerrell Shelton

We We is China. in Yes, country China. we an a domestic important manufacture manufacture do. China to monitor basis. and in regular China. We on export we import from China products us. We

working And so everything well. is far

As becomes less we any. and and lately, for rolling society that threat the had haven't the in expect a immunity any builds don't COVID shutdowns we up then of

is good So China think we shape. in

what to is fantastic and do a Now team we we we're have to a XXXX no prepared those, and in base initiatives his work in the because are with what one going China. to strong future knows have do but internal going Xi entail, President

Michael Almisry

Great. Thank you very much.

Operator

Thank you.

Jefferies. from of with is Couillard line the question ahead. next Please Brandon Our go

Matt Stanton

Maybe Hey. that on for theme. Thanks. is This Matt Brandon. sticking with

pricing third I you think discussed items at where PDP. the some China for guys was headwinds there of freezer and the kind then in quarter on you guidance, three call said

PDP, your how dynamic pricing you well thinking them just in of the down to as in headwinds Thanks. So those curious thoughts updated freezer and on into saw of status you're kind be the and kind I'd some you as touched XQ on the how but Jerry China, heading fared trade of get XXXX. of about

Jerrell Shelton

Okay.

macro up we back. with that for thanks following But that's that of due to and be mix pushback the question. the mean environment beginning some turn So, it's still and MVE business fourth getting. to good quarter of was I a in it's were stabilizing, the the challenged thing to

that As a I reservations, now And uncertainties, that's the think discussed I to those was explained capital to those things don't you disappearing. we little it conditions. of macro allocation about and because we are But bit normalize -- just tended right earlier.

well. In cryoPDP, it's of moving terms along

expanded We have our cryoPDP. in operations

our they investments expansion-wise in move -- services. alluded alluded lead last statement, as countries earlier of five I cryoPDP we that because four into impact India and to income where massive year to, in then with Some Robert did comments my did different a the the initiatives development we countries and market are

Matt Stanton

be Thanks. to lot here. as the any global just new catalysts think kind That's dollars well a to talk some of the contribute XXXX? don't potentially each And revenue the centers discussed in as maybe helpful. expected to Cryosphere we then, of could new supply chain quantify slew maybe guys as about in a have services XXXX the for few. products you coming as rank, you the up Thanks. in have how can the and XXXX there service about product Elite newer from those you Is biggest way online Cryoport well, one if ramping which And name Takeda stack or to of are

Robert Stefanovich

Yes.

the because one with think that's start IntegriCell the that platform, I back Syneos the and Let's Takeda announcements. into ties

going our first to opportunity a obviously, cell And gene and leukopaks. patient Just to therapy issue. and it's clients. through, of some industry one high-quality this the audit space addresses to go obviously, And our to to also regulatory It's infrastructure able it significant it And hit standardized out. with the has also concepts exciting it activity perspective, take a time fully quite for build to the accessibility while. to is really the most in be provide accessibility from

this will ramp start and So disclose it that in at going but we'll anything more we point, although we're XXXX. do start revenue to, become obviously, on that modest late financially see believe XXXX not material to to and in

go. we'll it and Elite mentioned, Cryosphere QX, The is platforms; in early Jerry the is, to the platforms other two as so Cryosphere launch ready

therapy now a full it take really focused process, bit processes is of initiating of year. related a they little well around can to a activity distribution, validation clients through Our as take have the around gene are which line, go as Elite because time, validation upwards those which

in -- of Elite, line we XX that example this don't folks for us see contribution been already year. validation we with we conjunction started do impact until have some these for and have like been working So Cryosphere, a Elite won't for on we'll have see actively year. negative that the material next

Matt Stanton

leave I’ll Thanks. there. Great. it

Operator

Thank you.

with is Next UBS. from the ahead. line John Please go Sourbeer question of

John Sourbeer

Hi. Thanks my taking question. for

across trials? be I your If share. you're at you talk your also Cryoport you looking you of what System? look in up clinical trials market market think like taking thoughts any may about wins the X some year-to-date, just think, around And at on you think X% and just share remarks some I mentioned is Phase prepared competitive Can

Jerrell Shelton

Yes.

As we have at XX mentioned, in Phase we're programs X.

itself. add the not to programs market. space in continue the There's within overall direct We and portfolio a head-to-head competitor our increase

but not aspects, that correlation from complementary perspective. have certain a it's to We folks are threat that some completely

regard. have concern we that don't So from a

leader And clear chain within in We aware, very, life as cell the are share related we'll grow the And fast-growing and you therapy that a very supply market revenue. base support. is gene market continue guys are and the to sciences.

we are of new geographic expansions So existing XX well potential on portfolio. as line upwards companies approvals this of anticipating year, portfolio Cryoport another and as commercial XX

really the revenue to start to on going So commercial that's drive side. obviously

John Sourbeer

on to that. that. Maybe Appreciate adding just

XX%. think mentioned you think So you long-term I growing also Medicine Regenerative and here XX%,

pointing that midpoint an maybe industry to -- think You're for commercialized trials there's at growth mature analysts range? become the where the at are your opportunity accelerate Do to here around as XXXX for of guide. some closer in the XX% to the to these you

Mark Sawicki

Yes.

kind therapies, increase up is overall stepwise and relates a really as entities So One commercial these all couple of with our manner. There's of capacity. associated ramp been move headwinds, a to hard in they working manufacturing it lot have of a to capacity, portfolio been factors. of

patient that really seeing supporting now issue second of is that's issue. commercial and The commentary, patient see clients' can in right today. XX% recent a only our lot of this to accessibility earnings a demand you And guys about -- down they're these are

reasons one to IntegriCell accessibility was of to to so launched and the facilitate we the provide platform ramp for And accessibility them. drive

we contribute things that they as believe online, acceleration So number. come will absolutely in these to

Jerrell Shelton

it at And maybe revenue look just Cryoport growth to XX% add you Systems, was there commercial actually if to the revenue grew XX%. and

dynamics increase. further it in then XXXX help to is And Mark alluded So will there's continuing significant revenue to increase. that as

Mark Sawicki

And almost remember is a commercial -- net are the number.

so, also have account that don't for And they out. programs -- dropped they

more of the -- a is second we bit volatility adds. there so year, seen, number in have on of the little half the drops And

a So number. is net it

John Sourbeer

maybe, last one guess, on last here, that point. I just

on adds, just or that there? that any additional maybe, provide. So the color guess related is drops I any is some can that seeing funding -- macro you're in slowdown projects in of just you

Mark Sawicki

slowdown. in slowdown not Absolutely, all. No at

activity a bad market clients. billion which investment we fact, still significant In into our the year, accelerating lot put There space. a was $XX.X fiscal over see in the in is a of with

John Sourbeer

Appreciate the the questions. for Thanks Great. all color.

Mark Sawicki

Thanks.

Operator

you. Thank

the Our of Larsen next BTIG. from question line David Please, is ahead. with go

David Larsen

Hey. what revenue MVE, quarter. little Can we're MVE? Congratulations out talk or of And months on two bit good in now about February almost a is a coming like the you first through of total roughly, from three percentage quarter. more

having you you're more Have energy sort helpful. warmer And have February, Thanks. color a really Europe? large impact? be any uptick favorable seeing an in summer seen over improved that the what there freezer of in costs Just a would shipments? through with Is

Jerrell Shelton

Yes.

impact little for nothing had there's out we I nothing a normalcy. time. As while grow the in this particular the market goes next has Europe It there. is while this the line returning to Systems. impact straightened of MVE energy progress buoyant a prices in which straight was to is and nothing and earlier, Look, -- has a bit talk will a -- Cryoport and is of a had there at mentioned blip, There and in about happened MVE, -- we pause made being for year

are orders back into mix. product the normal So the

David Larsen

Okay, sounds great. for revenue then, that me. And year-over-year to XX% Cryoport very high growth, Systems,

around you up clinical you're mix you've those versus trials What's like, pricing, XX% any additional that products versus is the selling into that between, color customers? can that picked Just what growth? provide driving incremental

Robert Stefanovich

mean, I dividends. you that a as focused portfolio are guys diversification been building initiatives to revenue these really around of entities. We're clinical really commercial on lot starting pay of and of recall, So focused our we've

And I of think a between revenue, that versus trials is successful of manifestation strategy that what number diversification. disconnect you're seeing of is, related to revenue that strategy, a added manifestation

David Larsen

Okay. Any with last then Gilead. capacity? Bristol, that And just generally clients' one. manufacturing like into your the across one are on seeing mean, investments board Novartis, you thoughts I like

should Just that And in happen any a be -- are that I like tailwind seeing you guess XXXX? now?

Robert Stefanovich

been in in Kite two very, in a additional and last There's Yeah. year. BMS Massachusetts facilities, -- very their middle and investment out in significant one on. in building is it Netherlands. manufacturing Frederick of capacity continues active substantial additional the launched in Maryland facility the one

will So accelerating that. we with associated absolutely activity see

Jerrell Shelton

also Dave. out, are building CDMOs

So it's in manufacturing. is customer to on the the growing addition direct outsourced manufacturing

David Larsen

queue. I’ll much. hop good Congrats Thanks on Great. Okay. quarter. very in back a the

Jerrell Shelton

Thank you.

Operator

you. Thank

is the with go Our from Company. next David ahead. Needham of & line question Saxon Please,

David Saxon

up question last to customer on question for the follow Hey, just quarter. congrats on guys. Maybe about taking Thanks that and the capacity.

therapy the in revenue have, $X [ph] range. to per in past, million talked about the being $XX guys million You

guess, far average. that, -- are on can do your of as none I So you tell, therapies I tracking and to guys as

therapy into your should Do path manufacturing kind the how rate? to long once gets take run And that that about to could capacity you we reaching it think approved, of how with expansion? have a reach visibility the steady-state customer

Mark Sawicki

are these pharmaceutical early a -- still evolutionary programs maturation still Remember standpoint. in are Yeah. the these from cycle

third treated if associated really of line second BMS or take Those these Xx you of broadening you moving of population product the those almost that threshold third at around of geographic alone, I -- at going acceleration to to that's third line achieving from look keys mean that I line patients with revenue line with patient facilitate XX,XXX. to is a are One accessibility these increase to $XX that fourth as here line line that their mean, X,XXX in the by and as that some can potential be now the a products therapy. from million well look out expansions. therapies. went

as as So you just for the head in what do opportunity can and that attribute what -- an example. math attribute your upside one could we that

David Saxon

Okay. we SG&A driving I then to came on but bit I in XXXX? modestly P&L, should nice guess that? the expanded was Thanks. base. about margin modeling gross it what OpEx how see quite above a what's And mean, was I at And for think

third And -- you $XXX to then one million just thoughts quickly. mentioned might thought if an in I I were to give the you last could a quarter $XXX you on going sneak updated LRP, million.

So just any And the much thanks update for so taking questions. there?

Robert Stefanovich

at problem all. No Yeah.

little margins. the quick on right. gross a I Just you're mean,

increase having over If at about year a you was full is for over you as overall year of the prior initiatives margin obviously basis up still seen And the In we margin XX.X%, as have as QX well about well number a impact contribution. in XXXX had product quarter. points -- as that gross services some for fourth slight year. we look see which in and in last the increase XX.X%, an margin XXX that have gross said we've that margin on XXXX

in thing place We operating that quarter of to one back impacted is end expense, we has in think been what at terms do the what the I and they what our EBITDA. doing of are a terms to we've in you how peel want initiatives we direct documents. look call XXXX, In put review

then in XXXX, at CapEx have there's that $XX.X not you we you million side, new for talked investments talked the and analysis, as that service we've about was on parts IntegriCell and made as only to that are XXXX. with expansion CapEx other technology OpEx impact peel-back software could probably relates the But bioservices, that geographic from So see an about million about. significant the offerings look been on the slightly $X just that about that and we well that to EBITDA on down

that's to player are towards the as related So and $XX about further revenue space. gene of to all really initiatives -- supply the impact XXXX essential in chain for million ourselves the geared the total that capture in establishing cell therapy

we're inflation time. In provide markets not will terms aware the of look, a guidance, economic We're to guidance. obviously, supply that there believe evaluating guidance this Ukraine given the situation the felt to in right felt that, provide topic the guidance. would But chain is are that at related give volatile have that time we appropriate. of when that long-term issues, still this outlook best still we present macroeconomic constantly, But of looking in we long-term factors at are overall not conditions, XXXX it's people understand given we lot like it long-term today The of. to COVID-XX, was point all level it uncertainty and that to environment the and

David Saxon

Okay, so for color. the great. Thanks much

Operator

you. Thank

line Jacob with go Our Please next Stephens. from the Johnson is question ahead. of

Jacob Johnson

margin expansion Maybe side? Maybe margin Thanks. the from the the Robert mid-XX%s are follow-ups greatest path margin, that areas we gross product just just path to mid-XX% about where those opportunity a talk last the today there's the think to Good lines gross couple where on for or afternoon everybody. as we on first the you about can on questions. of up, following

Robert Stefanovich

absolutely. Yeah,

Systems logistics. early only But a CRO services is that especially as area Systems clearly of that on therapies the into well as the improvement of at -- Cryoport are couple services I more as for the in both well offering we're and early on Cryoport critical meaningful said really and margin and and CRYOPDP within offering look the we the cell launched more still cell as and broadening on, contributing have with CRYOPDP the revenue. side. at side and the think been market the gene of globally And genes you if stages

Now allogeneic. and if see we're operating well in years as IntegriCell expanding cell leverage new into And market as next improving number offering into you the you'll autologous significant you'll see the coming significant solutions bioservices fast really into forward beyond in our of as both two a approvals the therapies margins. the expanding the [indiscernible] logistics of

commercial based So industry maturation it's clinical and on of a the the to commercial in the basis. on then launch these really trials maturation

Jacob Johnson

last then one it. bright the of Got other industry. And long-term But of question outlook talked a MVE? around flattish question for the I ahead to as most have end of little quick about market. guess long-term that's to and growth growth any the side moves long-term probably growth year just us kind one there's follow-up the way than But of certainly in business I you And services another XX% that Robert we think there Okay. XX% agree things guys then think I about the more kind from guidance. double-digit other on freezer bit think the for days expected XXXX. about Is

Robert Stefanovich

at $X.X thing New have the we I for Prague the in XXXX. of to that mean, up one million. part impact that think, an looking of I event Yes. the was had that And on business fact about there that last order backlog mind have onetime because revenue during year that able is significant a facility in we of the to weren't the revenue really make

when So to XXXX. look over that you apples-to-apples you do at look XXXX at of kind have

the for quality we demand. reputation that, said strong has see and very in a MVE obviously Having market

on very distributor a network global very, We basis. have strong a

but of for kind marketplace bottoms-up we what do think we in sight very in can line and certainly that next general, year view I see acknowledging the we have So lot to of outwards there's did and uncertainty still expect. of a a the

One do MVE, a part mention on good margin. they want to have I gross

the I company. margin. profitable think upward more there's But gross solid a they're on some mobility still importantly

have continue. they EBITDA expect we to good contribution that So and

Jacob Johnson

potential great. approvals that you commercial the in Okay, quantify the that headwind perhaps could question And this something then last And in plays commercial Is is or that's the year. one the then the that out? just be as to guidance for included revenue XX talked upside other revenue something Can on about me. quarter? you year

Robert Stefanovich

Yeah.

was headwinds in on the for about QX quarter the number. the headwind yeah the $X So approximation million the commercial

And for to if is very strong commercial is on closer a our which year, account rate number. obviously growth so the you really XX% that for

We coming expansions. there's even that. for modeled lot activity though with of associated conservatively, XX because obviously, the of We new everybody to commercial exact aware the know timing don't an there as therapies have timing volatility market is potential launch is expectation line of XX the although and a

if they associated we fruition on guidance launches But upside with account So come all is obviously from those standpoint. more there a schedule to for do conservatively that. opportunity

Jacob Johnson

Got it. my And for thanks taking questions. That’s update. for helpful. Thanks

Robert Stefanovich

Sure.

Operator

Thank you.

is Our Zhi ahead. line the Yuan next of from Please Securities. go B. Riley with question

Yuan Zhi

Good them. afternoon. of have taking for I you questions. a our Thank couple

anticipate XX who disclosing FDA So without can anticipating you many for they the to new you approvals, comment guys US? anticipated them are are, on of are how in the get approval

Jerrell Shelton

be on Yeah, That'd one hold nine. second.

Yuan Zhi

– there Systems. the near use provided commercial cell near logistics services and gene or Got commercialized are it. therapies commercialization few not And of did Cryoport a by

to those sites see market take is coming shares from we more territories? plan manufacturing a As there online,

Jerrell Shelton

new are that that market approvals not currently, therapies Cryoport? won't be Are on you Cryoport about are potential talking to or you are referring using that using the

Yuan Zhi

there if both, guess, I are any.

Jerrell Shelton

ice we're or today. minus at are temperature not are gene There dry primarily cryogenic approved that the therapies that range. supporting shipments They're not are some XX that

is Elite new with released have conjunction that, gene Now of therapy our Ultra which one we in customers. being XX Shipper, minus our Cryoport

see into us you'll other a I haven't before. had Cryoport gene weigh solution that therapies those think,

target more? do to want that. know, comment I Mark, So you to we're going don't

Mark Sawicki

was who Ultra actually amount significant Yeah. Cold partners, designed point our Elite the around of of activity whole I Shipper, with of coming in has key therapy filing gene a mean, one their Cryoport conjunction portfolio. the

custom market existing it's built, has from the So pull be to and from been feedback offerings therapies strongly specifically gene able that cell other that extremely queue. and do we gene, supporting in for the that we'll today the industry believe positive share and are been on

Yuan Zhi

question Thank you insight from Thank for one you And us. it. the Got that. helpful there. last for

for provides cell logistics cell a it therapy therapies radiopharma it gene I whether between well radiopharmaceuticals services to can radiopharmaceuticals? as beyond those CRYOPDP, gene So for and and similarities lot us for therapies? of provide which see and you Could remind

Jerrell Shelton

there on gene to are focus And therapy with and CRYOPDP similarities. with direction biopharma and cell cell that's on and Yeah. was With – the and There it is a – some moving biopharma therapy. focused CRYOPDP. gene

Yuan Zhi

Got it. our Thanks taking a lot for questions.

Jerrell Shelton

you. Thank

Operator

Thank you.

questions no for over there closing to CEO As this like Shelton, time, turn at the comments. to back I further floor Jerry are would

Jerrell Shelton

of our and operator, to our during questions discussion drive you They for a strategic quarter we today. actions XXXX In review. long-term and took outlined you, are Thank number your Cryoport's and thank in growth. closing, year-end

new Now and as enter our we XXXX, with services prospects more prepared about as several excited to products come. launch we're we're to

therapy, from We continue cell rapid of the and industry the to growth be gene of and driven will by capacity. benefit manufacturing expansion

We for is appreciate team our From to forward we quarter. and this and Tennessee our interest We thank Nashville, to forward on in to your updating look coming joining company. today. Our you demonstrating you to next our good committed us to in you again we look evening. you We support a bid want progress continuing the months. vision, mission,

Operator

This you. teleconference. Thank concludes today's

You lines for at participation. you your your time. may this Thank disconnect

Cryoport (CYRX) 23 Feb 232022 Q4 Earnings call transcript