CYRX - Earnings call transcript Q4 2024

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon, and welcome to Cryoport's Fourth Quarter and Full Year 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded. I will now turn the call over to your host, Mr. Todd Fromer from KCSA Strategic Communications. Please go ahead.

Todd Fromer

Thank you, operator.

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

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

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

and now Securities In turn Commission to Chief Exchange addition, to include, limited present and Risk in yours. uncertainties Mr. Executive our described and results, which but on annual materially Exchange Jerry, cause Securities floor we and Cryoport. other time differ expectations the those with Shelton, and in described with is risks in not elsewhere the Item from forward-looking experience developments events file call actual or statements could the are the and risks uncertainties our report over XX-K be to are is certain reports to filed that Commission. It historical from time These our Factors Form those my projections. Jerrell subject and pleasure the and to to, Officer of XA, to

Jerrell Shelton

is Mark Vice Relations, Sawicki; and full Thomas Officer, Investor With earnings Todd. our Officer, joining you ladies fourth and Corporate Thank us our President quarter W. for Dr. Robert Financial call. Good Development Scientific Stefanovich; gentlemen. Thank our XXXX Chief Heinzen. Chief afternoon, and of you, this afternoon and year our

Inc. a business document website. page in be As a Cryoport, year and a provides review of the found This financial on main uploaded website. and review we our general have can quarter outlook. our performance the of to our and XXXX fourth full reminder, document It operational

If you website and not I it, would go chance it. a read have do encourage to to you the download to

dynamics provide questions. we'll were felt a for will solid We conditions effects was with of update with tough to annual and concluded your results revenues our life year adapted throughout of with and take I you total the which and on million, a challenges the market then XXXX sciences. year. $XXX.X business, in the year our Now The line expectations. brief macroeconomic is and

its Bioservices the growth Sciences periods. with Life both Services year the Biostorage year-over-year continued expansion in double-digit and and business Our revenue during full fourth

and therapy year cell Sciences last and expand the full XX% year, gene business commercial to our total for year. We revenue represented market the which cell share gene for to growing Cryoport fourth the rose XX% growth support respectively. its For therapies, in Services Life and XX% of compared saw industry. and full approximately continues revenue of considerable the XX% XXXX, quarter

trials business. also cash to clinical record from a commercial provide I of beginning to positive approvals commercial programs flow to would we a potential is revenue that the opportunity net supported clinical commercial indicative last of III. is XX XX support number even patterns business, has are our we this the of from Sciences trials number signs Phase by our Life the Moreover, year, As of with of these total of downturn in trials, with stability. of developing. of our Cryoport increasing think Cryoport and remind number it management total order we that a trials team saw the record of we supported is over clinical increase XX. In you Product last the cryogenic market, over free show year-end, a systems supported continued XXX of year the XX This

initiatives cost Product As segment a of implemented with to in our number align industry we during previously current XXXX, global reported, dynamics. management our operations

strategies made gross and margin. our considerable As entire implemented capital improving were our we in company, realignment progress across cost reduction

positive our time, For the lead to same to gross positive margin most XXXX. to will for achieving we and adjusted and move time taking which important XXXX. last actions our plans, that forward. fourth our the the new been up We have EBITDA rose us quarter confident commitment during open compared plans have as with period some business been in development confident taken strive that are during We're balance these EBITDA to those return continued a of to effect underway XX.X% undertakings revenue us adjusted we to At advance XXXX, to these XX.X% same year. streams have remain will that

aspect up with clients, example, of IntegriCell generate solution chain allowing cryopreservation manufacturers, to efficiently. optimizing significant more as fourth will IntegriCell interactions cell cell-based robust, For revenue set the signed we and IntegriCell in therapy it manufacture in the therapies. state-of-the-art we the them produce to our first supply standardized to newly Houston, the material cell starting standardized product high-quality research and quarter, on Belgium. produce new IntegriCell commercialization advantages addresses for cryopreserved was a development more prospects consistent, Texas for with in therapies. believe of market Based offers located significant our and critical more Liege, opened and facilities

storage cryogenic payload this and which Cryoport of or was offers our clients in is Another efficiency, cryogenic accessibility. introduced example shipping a is January System, mobility that The HVX, HVX revolutionary shipper year. enhanced CXHVX production, Express our

smaller improved believe With at will therapies smaller into the cell and fit to vital accessibility cities this remote aircraft. areas also HVX, in patient benefit We we it outcomes as patient of will introduction large.

post further we occur X are we up in commercial off industry. anticipated January. strategic year steps is in It open XXXX, of seeking revenue to Based leverage this we unleash amount as XXXX capitalize expect now prepared implement plans and open lines in BLAs and another the demand record maintain operating At EBITDA to our XXXX. This collaborations guidance We're well to in to trials streams from start XX on of in growth or full on will filings XX XXXX. to taken and filings We're concludes could MMA happy We gene projecting adjusted operator revenue the continues year. good forward Looking we're forward, occurred and my cell $XXX already additional XXXX, push huge have for time, And of $XXX complement this, that have the providing complement of that ask we range growth to positioned million. believe the positions, the to this Cryoport's all during to throughout revenue of market are -- clinical our our therapy leading we as that base necessary we a grows. will XXXX intend market with objectives million our I'll remarks. the year. questions. last positive confident to your reach up

Operator

Instructions] comes Your Snopkowski question the from first Markets. [Operator from KeyBanc line Anna Capital of

Anna Snopkowski

whether broad-based through is commercial this? X was XX% the significant to quarter. on you in and some the Anna walk the of you in revenue or there start Paul on therapy This commercial maybe this fourth drivers Knight. saw increase that and Could impressive Maybe for drove

Jerrell Shelton

answer question. can Sawicki best I that think Mark

Mark W. Sawicki

that be answer happy question. I'd to

Number It broad-based focused factors. is, So a X X clients. a on wasn't one or of it increase. couple was

approvals year, Some We drivers as earlier last well of we've here have seen performance. basis, had get historical of seen clients. commercial contributed line of to of the as some for classes the programs with contribution to and are programs commercial X strong as as a line key those approved. as multiple We've expand and well, advancement our companies approvals starting extension continue on that we're those to see our we're additional therapy different of into all QX well pushing geographic with

Anna Snopkowski

MVE helpful. this It maybe side And to the continue some stabilization stabilize fourth will XXXX? to the in the then business. confident quarter. That's feel you you saw that even of there like Do in or seems recover Switching

Jerrell Shelton

we MVE, signs it we beginning continue stability at feel of It are continue that and but show the to throughout progress. that, We order uneven, seeing think will XXXX. may be patterns some will to

Operator

question of next line from your the Leerink And Partners. from Puneet Souda comes

Puneet Souda

on and guide? also biologistics product? you elaborate what guide your the versus and maybe -- have around Cryogene can you expectation And for one MVE service for for context assumptions the first business of 'XX, are the So the the growth within

Jerrell Shelton

for the it In add and elaborate guidance, I of of obviously, Sciences products. And and with to Robert services But, that, Life than faster to more. turn bigger to will will question. have context that say, portion guidance, what will I'll grow a to you be thank our it Robert I Puneet, think

Robert Stefanovich

don't which year-over-year. commercial side, typically X% growth, But on a Bioservices on just I in revenue the the look that was the in is, put can at double-digit, units then Maybe therapy cell guide But business you to drives growth. gene growth obviously we few the Services and what therapy strong directly. side, business say in growth things on context, the was Biostorage/Bioservices, which if it the Yes. particular,

Jerry have we on to to view comments revenue guidance in increases Product, had For just really at a call certainly this earlier product look take modest more very for on the based that purposes. conservative

it's by side. really driven the services So

Puneet Souda

from any the just wondering, anything Canada, that, U.S.? And on plant from cost the Mexico, tariffs. there's on helpful. then from or or there to otherwise? I'm freezers steel a of or you've I'm of is tariffs, any the any aluminum of the thought or sure And but quite through That's the bit dewars freezers Okay. trying are discussion just getting there understand. tariffs China serviced on is I'm that impact

Jerrell Shelton

tell We -- time the tariffs And, stainless them on and steel. we impact that on We pass about things of for however, surcharges have through they tariff that for aluminum impacts direct we us of -- Puneet. and the sure And that. have, hear except we on will through whatever do exist. period the can't thought tariffs but all

on like Robert? don't we impact that on so, comment margin. Would our further, And you expect to

Robert Stefanovich

covers we've some past really of think in margins. years had solid we been mean, the I issues in No, it. able the that gross even I I demonstrated that has what maintain prior management that think chain to the supply have with

products gross have and to the structure MVE for we the over ensure control So the the good cost I quite business. maintain for then think that we margins ability

Thomas Heinzen

like just is to are market the one Ball made clear. Ground, Georgia. U.S. This I'd in Puneet. The freezers Tom, thing for make

Jerrell Shelton

Cryogenic freezers.

Thomas Heinzen

are cryogenic Cryogenic freezers. also And manufactured Minnesota. dewars in the

U.S. is So our impact business. that no for there way

Puneet Souda

your these here A the cuts? started medical X% indirect expectation NIH setting from about in Got in of when on impact That it. And looking then, in last for number any clinical about trial this. growth, get a I was 'XX. trial schools. That's what's growth Wondering of helpful. 'XX? And appears clinical trials your net academic question then just be to at

if you're you're impact institutions. any of those or any seeing wondering So updates that contemplating from

Jerrell Shelton

trial answer with I'll then the to to for terms we last NIH, Puneet, the it the and question expectations. of in But have turn situation very first little exposure NIH. the Mark

second So the concerned this point. Mark, we directly part? at about answer would aren't you that

Mark W. Sawicki

Yes, happy to. Yes.

manifestation I you new trial acquisition. clinical can QX, a So will think trial would we've as over strong we in cell as continued space best the activity. the performance that data X the of the overall say, do it QX performance. I improvement And see to was and in, I a in that's anticipate see on relates gene the that last with had itself quarters

basis. XXXX on acquisition So I would than new a XXXX expect stronger trial that be will

Robert Stefanovich

And then, possible Puneet, document, you'll filings the XX there's see XXXX. as in in review another

commercial a already there's activity in lot Three well. as filed So of side, on the January.

expect therapies. which approvals, XX are of X We new possible another

pipeline gene robust very therapy kind of a space. it's and of the activities cell So within

Operator

from line Tejas question next Stanley. the comes your Morgan from And Savant of

Yih-Ming Tu

you geo a your on customers seeing This you guys for regions terms of your is are MVE. more Can back Edmund seeing guys on of in to little bit early Tejas. signs from Switching what elaborate stability? across

Jerrell Shelton

that's are Well, patterns, the collective the a signs of stability thing. order in and

but we -- see question. So signs This of that's do see as to far It's and stability. stable that in in signs are everything like that that we say seeing is answering doesn't those actually we stability that rosy, of as go market. I can

Yih-Ming Tu

less sufficient in nothing even Got the it. about your than that to retaliation But total. if smaller And And has in given gotten on region? what local continue few China think a available strategy on position appreciating of degree your here? you do your is happened Chinese X% over concerns market the for to has the to that the yet, presence tariffs, are China in past securing substitutes China years in in

Jerrell Shelton

and on. we're strategy speak, are there sources throughout later as that I unveil But that Asia. and will available [ our ] in certainly For implementing Yes. are mean, China other local and China we -- sources China

Robert Stefanovich

So, yes, U.S. Tom manufacturing have freezers for the mentioned and cryogenic market. European is facilities in where manufacture U.S. outside we dewars again, this that for of market, the and the our that China, here the

ways, So regards have some to in of we risk mitigate in that companies have -- that other lot space of some with China. we a the

Thomas Heinzen

Maybe a one add recovery is guide, to of there in there, assumption last that, no is thing Ed, from China. our

Yih-Ming Tu

And guys approval XXXX in for are you guidance? the thinking How hear Got approved last starting at helpful. the recent you one therapies? and for therapies XXXX That's one then contributions time lines were X to new your it. for about the cell about customers me. with And layoffs that revenue longer FDA, are gene of concerned from

Jerrell Shelton

you on let speak X give can we that I'll but that therapies, know don't I to guidance question. Mark, those

Mark W. Sawicki

break No, therapies commercial launched although that We contribute can you're don't individual as of to will anticipate we about the right. in new That's were 'XX. meaningful do the on far that. totals contribution, multiple for out I delineate absolutely as revenue XXXX that

no, governmental to standpoint FDA, have anticipate an not do from the within the cycle on FDA the time. Regarding a activities impact we

activity, fact, we there. very to continue progression see and robust we've In approval seen

on wouldn't meaningful I the portfolio. So impact anticipate a 'XX

Thomas Heinzen

have As they that of of August. fact, had announced date customers received our a their a and BLA matter today PDUFA in one

So things forward. keep moving

Operator

line from And your of David comes next from question Saxon the Needham.

David Saxon

of have be help be half, I'll 'XX. around quarter. should kind specificity, quarter, expectations the we noted with you getting second just on for directional might just profitability. any in start profitability Maybe PR for either the on a or The noticed that like first And then us Can better or half? when breakeven or year, I'll to And by thinking Congrats follow-up. expectations then worse? Robert,

Robert Stefanovich

little that million of that starting about that moving bit. really EBITDA Yes. a about measures over QX. $X.X We of we an last quarters, the now $X.X annualized from consistent the that equates majority QX, we talked negative some to progress. in and implemented activities, frame took $XX it of basis, improvement to X million. Maybe we've good adjusted just to drove cost negative -- for the in When made million On those a

targeting. So little what is we we were that better targeting, line a what in actually were bit with than

our And significant margin revenue. revenue, a profitable course, and services revenue both We the as are, gross for expanding focusing year-over-year, margins on gross as well the of seen driving for growth. you've enhancement of product

we're certain have So execute. driving I the think well to are growth on At we will same that we future. the near that believe track to revenue in initiatives continue we time, drive

aspect that's So to another consider.

particularly side, and positive to really the direct So ramp you the gene on terms timing, our expect I the side. EBITDA, see of the it adjusted EBITDA on but XXXX. we to adjusted during and of therapy that in timing on that goal services -- stated some reaching can't give reach of it of we is think timing And depends cell

David Saxon

Okay. wanted MVE. ask on helpful. That And to I then was

quarter noting The are $XX terms. million you're at patterns order pretty was So dollar strong in stable.

So point is orders -- kind like would there of mix being starting any dynamic order pattern the against that that we expectations? be Or stable? good change should if a aware backdrop quarterly of materially that of is

Jerrell Shelton

we can no There's that David, point now. to dynamic, right mix

Operator

Guggenheim. from comes question Subbu from next the of Nambi your line And

Subhalaxmi Nambi

Cryoport both. wallet the the it once indication on for increase We're just drivers to question, something? manufacturer? are growth One ramp and what that therapy the opportunities Or of volume share is Is there therapy the pursuing with are revenue commercial, your of to therapy?

Mark W. Sawicki

Yes, avenues. both we pursue

patient volume diversification. as So treated as standpoint, well both in revenue a from ramp

those that of of both many occur. in we're seeing the So cases,

Thomas Heinzen

-- asking year, to initiative. see later And you you IntegriCell starting that Bioservices/Biostorage on, it's more Thank in Mark talk yes, grow. And the hopefully, for probably this that. as that will is

So starting invested traction. we've are these now years the are get in that that projects to for some

Subhalaxmi Nambi

been to expecting you what but you trends respect are in to did XXXX? XXXX And be And biopharma with biotech XQ? expect what better, to that in see mention you funding have you seeing

Mark W. Sawicki

Yes.

all So which gene $XX.X standpoint. the an to XXXX cell in -- 'XX, think of I be going years, for a number a was in little bit more investment. best and I for was think billion from expectation fact, challenging was of it there year is

strong but the it will there. with happens think what obviously see I federal to be and year, we a what's happening have government

So I'll couch But that very markets positive. with the just a themselves caveat. are

to In standpoint sentiment standpoint, is show fact, from a time. I'm been to from market a anything activity add the it the Tom at a not trade lot that a wants we overall sure more much has in positive that? long than if were of and

Thomas Heinzen

No, document was have Subbu, XXXX. it our see when other on than it download chance year investments year, website, and on cell good by the gene you and you'll in to quarterly really a X, a review on therapy our that's Page

Mark W. Sawicki

Correct.

Subhalaxmi Nambi

And levels your guide? in XXXX so, you of are similar assuming the funding for

Mark W. Sawicki

Yes. the will looks I facilitate mean, year -- of obviously sentiment others, a we that will and was expressed it believe some JPMorgan be be the we that like on it positive. at based

expect, even would at see a bit little that 'XX. par I activity that's or So, stronger hopefully, than we'll

Thomas Heinzen

public And has our do ramps. in commercial for how you nothing our when in, that maybe think Subbu, companies and dependent revenue that large the on guide, to These just coming with when are their we're to about factoring think you from and that funding. about door that commercial clarify, pharma aren't especially or money

Subhalaxmi Nambi

'XX, saw the struggle Tom, asking companies smaller some during just I many funding was biotech their 'XX -- that of biotech because phase.

so on, I and understand -- I space. late-stage So the commercial was completely you not on more probably come what much that is hitting clinical

Mark W. Sawicki

'XX relates shaken to it out. that 'XX what Yes. And most activities as -- in already of have saw and we those

higher-than-average programs, to see And trial and evidenced we've quarters. winding last been last nonproductive by X the in tightening trials the supported culling attrition saw over trial of that's programs, the of environment. the as I that you quarters. If the X the activity you seen X quarters, X as a well down as was over that our we in strong much of clinical clinical think But clinical QX, in than followed higher last increase

Operator

line next BTIG. David Larsen from from your the comes question And of

David Larsen

year-over-year looks both I quarter, a bit good expansion? margin a the turning was quarter. It on you in XXX basis here. over corner little talk Congratulations you're about gross service. the points up the it Can think product and like

that any top thoughts it efforts? be reduction would Just there was really line more Or Just growth? was cost helpful.

Robert Stefanovich

absolutely. Yes. a is lot it related implemented we've in cost half No, Look, think the second that of I measures to year. of the the

So in the margins we that we've gross actions they the improvement to on really have seen a that helped structure taken. And where has cost the significant based drive are.

this You XX.X% year. XX.X% last on for side. We product to for moved year the right last XX.X% and service from QX from to the XX.X% year side absolutely

on as gross the product of good both services back a the So we've side bounce on margins. side, seen

margins targeted margin. at XX% are Our gross about we're And term in EBITDA in adjusted looking that XX%. the longer model,

So There's going to contribute revenue margin margins. actions our as those to some still the drive But, take side. obviously, well forward. growth gross certainly to the to and the to we going gross we're the do are expect targets, continue room cost on

David Larsen

mid-XX% results? Robert, like the XQ specific, is Like without I this you a in 'XX? a good too state gross be at steady margin guess, getting expecting would

Robert Stefanovich

Yes.

opportunity year. increase throughout there's the think I for

to of sequential 'XX you of at see improvements our year we financial expect kind if look in think I metrics. given, guidance the overall and the we've

a that I do seeing margins bit there's in want Houston, come brought be more time. there's gross to upward the So came IntegriCell, going some have Belgium on initiatives I start still door. Liege, we X also the drag they just And, some little time, obviously, remind same in margin online the new everyone, facilities that up do of and until substantial revenue on there's At through Texas. some mobility I the think a also expect upwards where we mobility on over like to margins. But

Jerrell Shelton

of we've in underway. targets David, And Robert have that adjusted online, margin our And as XX% about will and years, are of will gross those from these simply that XX% fully up sight. EBITDA. help they and our have will substantially some we have mentioned, thereby We margin, veered projects gross they we adjusted not talked drag the come EBITDA. they our operating that drive -- as just unleash leverage, for

cost extraordinary that some in for did that The we plan in cutting cost and continue. reprioritization, confident showing we our intend results, and it. way we were So implementing the we're and could, we're adjustments to where management simply required it's

David Larsen

Great. any Is will revenue more just for then what generating be the fiscal revenue one contribution 'XX? sense now? for that right quick And And IntegriCell. one in

Jerrell Shelton

on is. It And that. can Mark comment

Mark W. Sawicki

Yes. Yes.

platform we've contracts and signed this the bottom with the in IntegriCell first our line sign continue So contracts yes, is, QX quarter. to in

time in revenue some anticipate XXXX. QX, starting as manipulation a for in it significant see process to contribution although just validation lengthy see relates very there's will to considerations. notable We'll start modest. It onboard don't contribution because material XXXX. to We I regulatory FDA takes contribution audit

we have will little Is that of including the I've in about. excited MVE, some it So takes That's on all comments space, X freezer it bought large freezer, time. pharmas dewars? portfolio, their very platform of But across our small which in great. X bit it top the in use first into word large those in stabilizing. then stabilizing contracts start And that particular? signed to heard any have freezer, for we're categories a

Jerrell Shelton

the to company. you across What heard and it cuts are is beginning patterns stabilize, order

Operator

line comes next from question Richard Baldry your And ROTH from the of Capital.

Richard Baldry

sort existing trial the to On altered on side, this strictly launches? be can new clinical IntegriCell you will IntegriCell? clinical think the do Or adopt of an be protocol

Jerrell Shelton

Mark, And to further? you This This It's revolutionary comment not is want in alteration. improvement an a process. do improvement. an is

Mark W. Sawicki

Yes.

their And an that well. do as BLA, are it to in yes, have being few but a starting, into type the have they They cryopreservation can preclude an of If fact, that written that, seeing activity quite transition paradigm into obviously, addendum it that new that's but to into So, doable. transition. are programs not written we established to they is our it's ability does may platform.

Richard Baldry

commercial you we days, as that's talk any be that and holidays, on based And should specific that strength the gene business, that material segment stronger overall we take into about quarters, numbers weaker therapy consideration? becomes can -- to seasonality cell concerned more things whether like to quarters, about, whether underlying should of that,

Jerrell Shelton

Nothing the out comment can we that ordinary of there. on

Mark W. Sawicki

Yes, or a a year, standpoint. but facility there's you'll nothing manufacturing specific for from companies. X seasonality impact week is where shutdowns companies see do based ever a for on The most will a shutdown only the they're all different

impossible So it's to predict elements. those

Richard Baldry

early, like in line And in operating top look expense you done revenues back come plan cuts the largely of ahead as the bit then how of year like until begins come spending of and there up sort own realized. much little the some maybe forward, of and new got through feel the things sideways launched Or sort in pattern X back whether it you sounds it's you're earlier you're plateaus facilities your up? in a a get do more overall to of the to was come are the that profitability? that bring terms to We spending

Robert Stefanovich

actions. always CapEx can of and that Yes, things Paris. can That's opportunity a increase facilities California CFO, significant items. say there's X for do how But additional don't certainly Rich, potentially maybe as Two, and we the expect think review in cost where take any to additional I case. OpEx. we the I we'll some One, we related in in new have expenditures

at continue ways reduce look we can do improve without we to can have. efficiency, initiatives changing really us I expect growth the to that we ways cost So

So yes.

Operator

question line next Kyle And the comes your from Crews of UBS. from

Kyle Crews

and services business, therapy market broader expect your next evolve gene the cell kind you at can how Taking looking and a step year? from back of you gene over non-cell therapy the that and of market part and expect the to

Jerrell Shelton

Mark, want take to you that? do

Mark W. Sawicki

we grow, we support I see other direct-to-patient. or the or gene space. activities to Cell is do softer, but is vaccine growth nominally and see in a but our sciences. do verticals little different market activity lot some in I to we multiple modestly biopharma expect still within that mean, that but space. a Yes. because also We those Sure. bit non-cell should gene obviously, and on focus, life

On relates gene the growth it growth transportation side, and pharmaceutical non-cell product see I distribution. to -- think as also continued we'll

So...

Jerrell Shelton

to growth, maybe IVF well. add Just Mark, as

Mark W. Sawicki

Yes.

So see of role. our I contribution and ex a and from good that U.S., year as as clinical service starts in and medicine continue We're to see well space. relates quite reproductive health cell clinical support companion activity do very play space a medicine, think headway anticipate we of platform to expansion in it should trial animal reproductive we'll making this dominant space We're the we seeing companion cell the health And animal therapy for an therapy acceleration 'XX. animal products. seeing few for trial in of in the animal

Thomas Heinzen

Operator, questions? are there more

Operator

Your next question comes from the line of Matt Stanton.

Matthew Stanton

at 'XX guys item. feel. commercial But obviously a line therapy about you guide. basket better trying overall, don't the specific Maybe just we just I color give get the think go back to if appreciate the to to

think for quarter. I the the XXs year, high for was it up XX%

type for maybe I few growth So that talked over think, kind of bucket which of those X plus better XX% next Mark, about years. historically, the you've for is XXXX?

So fair XXXX? plus something bucket the range the for in is XX% here commercial in revenue

Jerrell Shelton

that Mark, but fair, that's think comment do want you I further? to on

Mark W. Sawicki

therapy Yes. I in a mean, I expansions. launches standpoint think we'll growth of year from than stronger number XX%, with the a was this be new which

getting aggressive. think probably into the is mid-XXs I a hair

seeing. the we're I in we'll probably in my time on point this be guess based So high XXs what think at is

Operator

I at no this hand Jerry any call time. the to Mr. will back There now you. further Shelton Thank closing for questions are remarks.

Jerrell Shelton

Thank you, operator, and thank you your all questions. for

interest support the the gene were Life quarter therapy. expectations. revenue continued we and fourth results The we and had year in constructive reflect I our this that commercial solid of Cryoport. We growth appreciate some cell of business, Sciences think which from with we included the your finished with our discussions, achieved consistent growth results

solid said and For Life as stabilization seeing about -- we've our we continues cash Sciences our appears Life question-and-answer talked flow. provide to of segment, Sciences what to positive the And we in Product is before, we're period. as have Products business be a orders

XXXX we our economics. Our in address Market in results -- conditions difficult, look show also this. progress to and our business improving were actions we significant took

result, beginning in initiatives, a gross notably of effects As the to most margin these we're our see improvement.

our and We these thank us to to during continue will We to next good financial positive your much, continuing our joining for we have afternoon, adjusted our report anticipate to that and the of progress appreciate EBITDA company. conversation. results call. and in on evening. forward this a you again XXXX. We first return a us updating We we at support interest appreciate guide the very look the Thank you actions as quarter your you

Operator

today. that for And our participating. for you. Thank Thank you concludes call

may You disconnect. all

Cryoport (CYRX) 4 Mar 252024 Q4 Earnings call transcript