Revenue remains highly volatile with a 24.47% year-over-year contraction, while operating margins remain deeply negative at -20.1% as of 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Mar'12 | Mar'11 | Mar'10 | Mar'09 | Mar'08 | Mar'07 | Mar'06 | Mar'05 | Mar'05 |
|---|
| Sales/Revenue | 182.94M | 176.18M | 233.25M | 237.28M | 222.61M | 222.61M | 78.7M | 33.94M | 19.63M | 11.95M | 7.68M | 5.88M | 3.94M | 2.66M | 1.1M | 555.64K | 475.5K | 117.96K | 35.12K | 83.56K | 67.1K | 152.3K | 271.43K | 271.43K |
| Revenue Growth % | -7.11% | -24.47% | -1.7% | 6.59% | 0% | 182.87% | 131.85% | 72.94% | 64.18% | 55.68% | 30.54% | 49.47% | 47.95% | 141.69% | 98.07% | 16.85% | 303.12% | 235.83% | -57.97% | 24.53% | -55.94% | -43.89% | - | - |
| Cost of Goods Sold | 96.61M | 93.12M | 133.92M | 133.4M | 126.03M | 126.03M | 42.36M | 16.59M | 9.39M | 5.99M | 4.58M | 3.99M | 2.77M | 2.22M | 1.59M | 1.39M | 1.3M | 717.71K | 546.15K | 386.37K | 176.94K | 315.65K | 499.65K | 499.65K |
| COGS % of Revenue | - | 52.86% | 57.41% | 56.22% | 56.62% | 56.62% | 53.83% | 48.88% | 47.82% | 50.09% | 59.61% | 67.86% | 70.3% | 83.57% | 144.28% | 250.61% | 274.02% | 608.46% | 1554.93% | 462.37% | 263.68% | 207.26% | 184.08% | 184.08% |
| Gross Profit | 86.33M | 83.05M | 99.33M | 103.87M | 96.58M | 96.58M | 36.33M | 17.35M | 10.24M | 5.97M | 3.1M | 1.89M | 1.17M | 436.95K | -487.28K | -836.82K | -827.48K | -599.75K | -511.03K | -302.81K | -109.84K | -163.35K | -228.22K | -228.22K |
| Gross Margin % | 47.19% | 47.14% | 42.59% | 43.78% | 43.38% | 43.38% | 46.17% | 51.12% | 52.18% | 49.91% | 40.39% | 32.14% | 29.7% | 16.43% | -44.28% | -150.61% | -174.02% | -508.46% | -1454.93% | -362.37% | -163.68% | -107.26% | -84.08% | -84.08% |
| Gross Profit Growth % | - | -16.39% | -4.37% | 7.55% | 0% | 165.8% | 109.39% | 69.45% | 71.63% | 92.38% | 64.07% | 61.71% | 167.52% | 189.67% | 41.77% | -1.13% | -37.97% | -17.36% | -68.76% | -175.69% | 32.76% | 28.42% | - | - |
| Operating Expenses | 123.26M | 119.86M | 214.49M | 135.78M | 114.41M | 114.41M | 66.34M | 35.03M | 18.88M | 13.86M | 11.87M | 10.63M | 6.76M | 5.52M | 5.84M | 6.6M | 4.77M | 3.6M | 2.68M | 2.72M | 1.99M | 1.28M | 721.5K | 721.5K |
| OpEx % of Revenue | - | 68.03% | 91.95% | 57.22% | 51.39% | 51.39% | 84.3% | 103.2% | 96.22% | 115.93% | 154.55% | 180.74% | 171.83% | 207.35% | 530.39% | 1187.44% | 1003.06% | 3049.85% | 7643.39% | 3251.41% | 2960.31% | 838.86% | 265.81% | 265.81% |
| Selling, General & Admin | 108.54M | 102.82M | 146.88M | 120.06M | 97.56M | 97.56M | 56.86M | 31.29M | 17.04M | 12.65M | 11.27M | 10.08M | 6.41M | 5.11M | 5.41M | 6.11M | 4.32M | 3.31M | 2.39M | 2.55M | 1.9M | 1.02M | 622.8K | 622.8K |
| SG&A % of Revenue | - | 58.36% | 62.97% | 50.6% | 43.83% | 43.83% | 72.25% | 92.17% | 86.84% | 105.85% | 146.76% | 171.38% | 162.87% | 191.97% | 491.73% | 1098.92% | 908.61% | 2808.36% | 6796.74% | 3052.48% | 2830.32% | 671.77% | 229.45% | 229.45% |
| Research & Development | 17.01M | 17.04M | 18.04M | 15.72M | 16.84M | 16.84M | 9.48M | 3.74M | 1.84M | 1.21M | 598.11K | 550.26K | 352.58K | 409.11K | 425.45K | 491.85K | 449.13K | 284.85K | 297.38K | 166.23K | 87.86K | 254.49K | 98.7K | 98.7K |
| R&D % of Revenue | - | 9.67% | 7.73% | 6.63% | 7.57% | 7.57% | 12.05% | 11.02% | 9.38% | 10.09% | 7.79% | 9.35% | 8.96% | 15.38% | 38.66% | 88.52% | 94.45% | 241.49% | 846.65% | 198.92% | 130.93% | 167.1% | 36.36% | 36.36% |
| Other Operating Expenses | -1000K | 0 | 49.57M | 0 | 0 | 0 | 0 | 0 | 77.63K | 14.34K | -6.77K | -9.9K | -4.27K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -630 | -3 | 0 | 0 |
| Operating Income | -36.94M | -36.81M | -115.16M | -31.9M | -17.83M | -17.83M | -30.01M | -17.68M | -8.64M | -7.89M | -8.77M | -8.74M | -5.59M | -5.08M | -6.32M | -7.43M | -5.6M | -4.2M | -3.2M | -3.02M | -2.1M | -1.44M | -949.72K | -949.72K |
| Operating Margin % | -20.19% | -20.89% | -49.37% | -13.45% | -8.01% | -8.01% | -38.13% | -52.07% | -44.05% | -66.02% | -114.16% | -148.6% | -142.12% | -190.92% | -574.67% | -1338.05% | -1177.08% | -3558.31% | -9098.32% | -3613.77% | -3123.99% | -946.12% | -349.89% | -349.89% |
| Operating Income Growth % | - | 68.04% | -260.95% | -78.94% | 0% | 40.59% | -69.79% | -104.46% | -9.53% | 9.97% | -0.29% | -56.28% | -10.13% | 19.7% | 14.93% | -32.83% | -33.35% | -31.34% | -5.82% | -44.05% | -45.48% | -51.72% | - | - |
| EBITDA | -10.47M | -11.65M | -87.67M | -9.14M | 2.42M | 2.42M | -20.14M | -15.26M | -7.79M | -7.23M | -8.39M | -8.5M | -5.4M | -4.77M | -5.93M | -7.09M | -5.35M | -4.05M | -3.11M | -2.98M | -1.99M | -1.35M | -857.12K | -857.12K |
| EBITDA Margin % | -5.72% | -6.61% | -37.59% | -3.85% | 1.09% | 1.09% | -25.59% | -44.96% | -39.67% | -60.46% | -109.29% | -144.53% | -137.09% | -179.21% | -538.87% | -1276.31% | -1125.46% | -3431.06% | -8864.9% | -3564.35% | -2958.25% | -887.85% | -315.78% | -315.78% |
| EBITDA Growth % | 87.96% | 86.71% | -859.3% | -477.96% | 0% | 112.01% | -31.99% | -95.98% | -7.73% | 13.87% | 1.29% | -57.58% | -13.18% | 19.62% | 16.37% | -32.51% | -32.23% | -29.98% | -4.54% | -50.05% | -46.81% | -57.76% | - | - |
| D&A (Non-Cash Add-back) | 26.47M | 25.15M | 27.49M | 22.77M | 20.25M | 20.25M | 9.87M | 2.42M | 857.94K | 664.83K | 374.2K | 239.23K | 197.94K | 311.59K | 393.96K | 343.03K | 245.48K | 150.09K | 81.98K | 41.3K | 111.22K | 88.75K | 92.6K | 92.6K |
| EBIT | -36.77M | -36.81M | -93.84M | -28.95M | -269.15M | -269.15M | -30.18M | -16.9M | -9.47M | -7.88M | -13.79M | -8.75M | -5.6M | -18.78M | -6.31M | -7.3M | -5.53M | 1.38M | -14.01M | -2.97M | -2.1M | -1.44M | -949.72K | -949.72K |
| Net Interest Income | 7.64M | 7.44M | -5.5M | -6.14M | -4.69M | -4.69M | -2.56M | -1.37M | -69.25K | -15.69K | -139.42K | -1.07M | -1.43M | -784.45K | -72.86K | -515.81K | -603.19K | -7.02M | -2.66M | -1.54M | 0 | -80.38K | -85.77K | -85.77K |
| Interest Income | 9.85M | 9.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11.94K | 15.57K | 8.16K | 32.1K | 50.08K | 0 | 0 | 0 | 0 |
| Interest Expense | 2.21M | 2.36M | 5.5M | 6.14M | 4.69M | 4.69M | 2.56M | 1.37M | 69.25K | 15.69K | 139.42K | 1.07M | 1.43M | 784.45K | 72.86K | 527.75K | 618.76K | 7.03M | 2.69M | 1.59M | 228.37K | 80.38K | 85.77K | 85.77K |
| Other Income/Expense | 4.24M | 4.64M | 15.81M | -3.19M | -256.01M | -256.01M | -2.73M | -595K | -891.03K | -1.36K | -4.34M | -1.08M | -1.43M | -14.49M | -56.38K | -396.65K | -553.6K | -1.45M | -13.51M | -1.54M | -228.37K | -80.38K | -87.59K | -87.59K |
| Pretax Income | -32.7M | -32.17M | -99.35M | -35.09M | -273.84M | -273.84M | -32.74M | -18.27M | -9.54M | -7.89M | -13.11M | -9.82M | -7.03M | -19.56M | -6.38M | -7.83M | -6.15M | -5.65M | -16.7M | -4.56M | -2.32M | -1.52M | -1.04M | -1.04M |
| Pretax Margin % | -17.88% | -18.26% | -42.59% | -14.79% | -123.02% | -123.02% | -41.6% | -53.83% | -48.59% | -66.03% | -170.7% | -166.89% | -178.52% | -735.5% | -579.79% | -1409.43% | -1293.51% | -4789.89% | -47555.95% | -5459.83% | -3464.31% | -998.9% | -382.17% | -382.17% |
| Income Tax | 1.67M | 1.8M | 239K | 2.24M | 1.69M | 1.69M | -45K | 62K | 19.95K | 5.14K | 5.67K | 3.63K | 1.6K | 1.6K | 1.6K | 1.6K | 1.6K | 1.6K | 1.6K | 1.6K | 1.6K | 800 | 800 | 800 |
| Effective Tax Rate % | -5.12% | -5.59% | -0.24% | -6.38% | -0.62% | -0.62% | 0.14% | -0.34% | -0.21% | -0.07% | -0.04% | -0.04% | -0.02% | -0.01% | -0.03% | -0.02% | -0.03% | -0.03% | -0.01% | -0.04% | -0.07% | -0.05% | -0.08% | -0.08% |
| Net Income | 77.14M | 70.3M | -99.59M | -37.33M | -275.53M | -275.53M | -32.69M | -18.33M | -9.56M | -7.9M | -13.11M | -9.82M | -7.03M | -19.57M | -6.38M | -7.83M | -6.15M | -5.65M | -16.71M | -4.56M | -2.33M | -1.52M | -1.04M | -1.04M |
| Net Margin % | 42.17% | 39.9% | -42.69% | -15.73% | -123.77% | -123.77% | -41.54% | -54.01% | -48.69% | -66.08% | -170.77% | -166.95% | -178.56% | -735.56% | -579.94% | -1409.72% | -1293.84% | -4791.24% | -47560.5% | -5461.75% | -3466.7% | -999.42% | -382.46% | -382.46% |
| Net Income Growth % | 171.53% | 170.59% | -166.75% | 86.45% | 0% | -742.77% | -78.34% | -91.85% | -20.97% | 39.76% | -33.53% | -39.75% | 64.09% | -206.55% | 18.52% | -27.32% | -8.86% | 66.17% | -266.02% | -96.2% | -52.83% | -46.62% | - | - |
| Net Income (Continuing) | -34.37M | -33.97M | -99.59M | -37.33M | -275.53M | -275.53M | -32.69M | -18.33M | -9.56M | -7.9M | -13.11M | -9.82M | -7.03M | -19.57M | -6.38M | -7.83M | -6.15M | -5.65M | -16.71M | -4.56M | -2.33M | -1.52M | -1.04M | -1.04M |
| Discontinued Operations | 724K | -4.68M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.55 | 1.40 | -2.21 | -0.93 | -6.18 | -6.18 | -1.94 | -0.55 | -0.34 | -0.34 | -0.92 | -1.34 | -2.27 | -4.48 | -1.89 | -3.03 | -5.18 | -12.63 | -45.35 | -12.96 | -8.42 | -5.70 | -6.49 | -6.49 |
| EPS Growth % | 160.26% | 163.35% | -137.63% | 84.95% | 0% | -218.56% | -252.73% | -61.76% | 0% | 63.04% | 31.34% | 40.97% | 49.33% | -137.04% | 37.62% | 41.51% | 58.99% | 72.15% | -249.92% | -53.92% | -47.72% | 12.17% | - | - |
| EPS (Basic) | - | 1.40 | -2.21 | -0.93 | -6.18 | -6.18 | -1.94 | -0.55 | -0.34 | -0.34 | -0.92 | -1.34 | -2.27 | -4.48 | -1.89 | -3.03 | -5.18 | -12.63 | -45.35 | -12.96 | -8.42 | -5.70 | -6.49 | -6.49 |
| Diluted Shares Outstanding | 49.9M | 50.07M | 48.74M | 48.99M | 45.93M | 45.93M | 38.58M | 33.39M | 28.21M | 22.96M | 14.22M | 7.87M | 5.01M | 4.37M | 3.37M | 2.59M | 1.19M | 447.59K | 368.34K | 352.15K | 276.39K | 266.97K | 159.95K | 159.95K |
| Basic Shares Outstanding | 49.9M | 50.07M | 48.74M | 48.99M | 45.93M | 45.93M | 38.58M | 33.39M | 28.21M | 22.96M | 14.2M | 7.87M | 5.37M | 4.37M | 3.37M | 2.59M | 1.19M | 447.59K | 368.34K | 352.15K | 276.39K | 266.97K | 159.95K | 159.95K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Biotech funding cycle sensitivity
According to the provided quarterly income statements, Cryoport's revenue trajectory remains highly inconsistent, characterized by a 24.47% year-over-year contraction in recent periods, which suggests that the company's reliance on clinical trial volume leaves it vulnerable to broader fluctuations in the biotech funding environment.
The erratic revenue growth figures indicate that the company has yet to achieve a stable, recurring revenue base that is decoupled from the cyclical nature of early-stage clinical trials. Investors should monitor whether the recent 16.5% growth in 2026Q1 represents a sustainable recovery or merely a temporary rebound from a depressed baseline.
As reported in financial statements, Cryoport has maintained gross margins in the 45% to 48% range, suggesting that while the company possesses a premium service model, it has struggled to leverage this pricing power into meaningful bottom-line profitability due to its high fixed-cost infrastructure.
The consistency in gross margins implies that the company's specialized cold-chain services retain value despite broader sector headwinds. However, the inability to expand these margins significantly suggests that the cost of maintaining its global dewar fleet and regulatory compliance network remains a persistent drag on operational efficiency.
Based on Cryoport's reported figures, the company continues to struggle with negative operating margins, which reached -20.1% in 2026Q1, indicating that the current revenue scale is insufficient to absorb the substantial SG&A and R&D expenses required to support its complex, global logistics platform.
The persistent gap between gross profit and operating income highlights a lack of operating leverage, suggesting that management's aggressive expansion of infrastructure has outpaced actual demand. This structure warrants further investigation into whether the company can achieve break-even without a significant, sustained increase in commercialized therapy volumes.
Analysis of the income statement reveals a massive divergence between operating and net income, exemplified by the 2025Q2 net income of $105.2M against an operating loss of $9.6M, which suggests that headline earnings are heavily influenced by non-recurring, non-operating items rather than core business performance.
Investors should exercise caution when evaluating net income, as these one-time gains obscure the underlying cash-burning nature of the core logistics operations. Stripping out these anomalies is essential to understanding the true, and currently negative, trajectory of the company's operational health.
While management emphasizes the long-term potential of the cell and gene therapy market, the company's history of significant quarterly losses and revenue volatility suggests that the short-seller thesis regarding over-extended infrastructure and potential technological obsolescence remains a credible risk to the current valuation.
The reliance on a niche, capital-intensive model may leave the company vulnerable if the industry shifts toward decentralized manufacturing or if competitors with larger logistics footprints successfully commoditize cold-chain services. The current financial data suggests that the 'pure-play' premium may be increasingly difficult to justify without a clear path to consistent operating profitability.
Quick answers to the most common questions about buying CYRX stock.
For fiscal year 2025, Cryoport, Inc. (CYRX) reported total revenue of $176.2M. This represents a 64807.2% increase compared to $0.3M in 2003.
Cryoport, Inc. (CYRX) is profitable, generating $70.3M in net income for the fiscal year ending 2025 with a net profit margin of 39.9%.
Cryoport, Inc. (CYRX) reported an operating income of $-36.8M, resulting in an operating profit margin of -20.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Cryoport, Inc. (CYRX) generated $83.1M in gross profit for the year, representing a gross profit margin of 47.1%. This demonstrates the company's core pricing power and production efficiency.