-- Second quarter revenue grew 8% year-over-year to $49.0 million
-- Life Sciences Services revenue increased 15% year-over-year
-- BioStorage/BioServices revenue grew 25% year-over-year
-- Supporting 779 global clinical trials and 22 commercially approved cell
and gene therapies (CGT) as of June 30, 2026
NASHVILLE, Tenn., Aug. 6, 2026 /PRNewswire/ -- Cryoport, Inc. $(CYRX)$ ("Cryoport" or the "Company"), a leading global provider of integrated temperature-controlled supply chain solutions for the life sciences, today announced financial results for its second quarter (Q2) and first half (H1) of 2026.
Jerrell Shelton, CEO of Cryoport, commented, "Our revenue momentum over the past several periods continued into the second quarter, with total revenue reaching $49.0 million. Life Sciences Services revenue grew 15% year-over-year, led by 25% growth in BioStorage/BioServices revenue. Our Life Sciences Products business also generated solid results during the quarter, driven by continued demand for MVE Biological Solutions' industry-leading cryogenic systems and the successful introduction of new and innovative products.
"Total revenue from the support of commercial CGT grew 9% year-over-year to $9.4 million. The Life Science Services portion of our revenue from supporting commercial CGT grew 26% year-over-year as the number of patients treated in the community setting and on an outpatient basis continued to ramp. Total revenue for the quarter from supporting CGT clinical trials increased 12% year-over-year to $13.4 million as our customers' clinical pipelines advanced and further matured. We supported a record 779 clinical trials globally as of June 30, 2026, reflecting the strength of our industry-leading position as the CGT market continues to advance.
"Our second quarter results also reflect meaningful progress on our "pathway to profitability." Achieving positive adjusted EBITDA in the second quarter represents an important milestone in our ongoing pathway to sustainable profitability and demonstrates the value of our strategic investments and operational initiatives we have executed over the past several years. We are pleased with this accomplishment as we continue to optimize our global operations, leverage our expanding infrastructure, and benefit from the operating leverage that we anticipate will take effect as we increasingly scale and put our investments to work.
"Overall, we delivered a strong second quarter, generating growth across key revenue streams, improving profitability, and achieving an important milestone with positive adjusted EBITDA for the quarter. With our accomplishments to date, we believe that we are well positioned to further expand margins, enhance operating efficiency, and deliver sustainable, profitable long-term growth for our shareholders. We remain focused on executing our strategy, driving financial performance, and capitalizing on the significant opportunities before us. We expect upcoming growth catalysts in our business segments, represented by the expansion of our Global Supply Chain Center Network and recent launches of new products and services, will drive us to new heights in market position, growth, and productivity," concluded Mr. Shelton.
The following table presents Q2 2026 revenue compared with Q2 2025:
Cryoport, Inc. and
Subsidiaries
Revenue
----------------------- ------------- ----------- -------- ----------- ----------- --------
Three Months Ended Six Months Ended
June 30, June 30,
(unaudited) (unaudited)
(in thousands) 2026 2025 % Change 2026 2025 % Change
----------------------- ------------- ----------- -------- ----------- ----------- --------
Life Sciences Services $ 27,969 $ 24,369 15 % $ 54,867 $ 47,234 16 %
BioLogistics Solutions 22,359 19,874 13 % 44,027 38,404 15 %
----------------------- ------------- ----------- -------- ----------- ----------- --------
BioStorage/BioServices 5,610 4,495 25 % 10,840 8,830 23 %
Life Sciences Products $ 21,002 $ 21,085 0 % $ 41,902 $ 39,260 7 %
----------------------- ------------- ----------- -------- ----------- ----------- --------
Total Revenue $ 48,971 $ 45,454 8 % $ 96,769 $ 86,494 12 %
----------------------- ------------- ----------- -------- ----------- ----------- --------
BioLogistics Solutions revenue increased 13% year-over-year in Q2 2026, driven by increasing customer activity, continued commercial product development, and clinical advancement within the CGT market. BioStorage/BioServices revenue grew 25% year-over-year, reflecting strong demand for our expanded, integrated services offering, which provides seamless, secure handling of temperature-sensitive materials across our global network.
As of June 30, 2026, the number of commercial cell and gene therapies we support increased to 22 and our total clinical trial count that we support rose to 779 clinical trials worldwide, a net increase of 51 clinical trials over June 30, 2025, with 94 of these clinical trials in Phase 3. The number of trials by phase and region are as follows:
Cryoport Supported Clinical Trials by Phase
Clinical Trials June 30,
-----------------------
2024 2025 2026
Phase 1 286 304 316
-------------------------- ------- ------ ------
Phase 2 322 342 369
Phase 3 76 82 94
Total 684 728 779
-------------------------- ------- ------ ------
Cryoport Supported Clinical Trials by Region
Clinical Trials June 30,
-----------------------
2024 2025 2026
Americas 525 556 579
-------------------------- ------- ------ ------
EMEA 114 124 145
APAC 45 48 55
Total 684 728 779
-------------------------- ------- ------ ------
In Q2 2026, four of our customers filed Biologics License Applications (BLA) / Marketing Authorization Applications $(MAA)$. During the Q2 2026, Cryoport's customer, Orca Bio, received U.S. Food and Drug Administration (FDA) approval for TREGZI$(TM)$ as the first and only precision-engineered cell therapy for allogeneic stem cell transplant in the treatment of adults with hematological malignancies. Additionally, during Q2 2026, Vertex Pharmaceuticals received supplemental approval from the FDA to expand the label of CASGEVY$(R)$ for the treatment of patients aged two years and older with either sickle cell disease $(SCD)$ with recurrent vaso-occlusive crises (VOCs) or transfusion-dependent beta thalassemia (TDT). CASGEVY is the first approved gene therapy indicated for children as young as two years for both SCD and TDT. For the balance of 2026, we anticipate another 11 possible BLA/MAA applications, five possible additional new therapy approvals, and one possible additional approval for label/geographic expansion from our customer base.
Operational milestones
-- Cryoport Systems' IntegriCell(R) cryopreservation services were selected
by Verismo Therapeutics, a clinical-stage CAR T-cell therapy company
pioneering a novel multi-chain KIR-CAR platform technology for the
treatment of solid tumors (SynKIR(TM)-110) and B cell associated
disorders and malignancies (SynKIR(TM)-310).
-- Advanced toward the planned launch of BioServices operations at our
Global Supply Chain Center in Paris, France, expected in Q4 2026.
-- Continued progress toward the launch of our state-of-the-art Global
Supply Chain Center in Santa Ana, California, expected in Q4 2026.
-- Shipped first HE freezers "made in China for China" from our Chengdu,
China manufacturing facility.
Financial Highlights
On June 11, 2025, the Company completed the divestiture of its CRYOPDP specialty courier business to DHL Group. The results of CRYOPDP, a former business within Cryoport's Life Sciences Services segment, are presented as discontinued operations for all periods and are excluded from the non-GAAP financial measures in this release.
Revenue
-- Total revenue for Q2 2026 was $49.0 million, compared to $45.5 million
for Q2 2025, a year-over-year increase of 8%, or $3.5 million.
-- Life Sciences Services revenue for Q2 2026 (representing 57% of
our total revenue) was $28.0 million, compared to $24.4 million
for Q2 2025, up 15% year-over-year, including
BioStorage/BioServices revenue of $5.6 million, up 25%
year-over-year.
-- Life Sciences Products revenue for Q2 2026 (representing 43% of
our total revenue) was $21.0 million, compared to $21.1 million
for Q2 2025.
-- Total revenue for H1 2026 was $96.8 million, compared to $86.5 million
for H1 2025.
-- Life Sciences Services revenue for H1 2026 was $54.9 million,
compared to $47.2 million for H1 2025, including
BioStorage/BioServices revenue of $10.8 million, compared to $8.8
million for H1 2025.
-- Life Sciences Products revenue for H1 2026 was $41.9 million,
compared to $39.3 million for H1 2025.
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