Cryoport, Inc.
Cryoport, Inc. provides temperature-controlled supply chain solutions for the life sciences industry, with a particular focus on cell and gene therapies. The company combines logistics, biostorage, bioservices, cryopreservation, and cryogenic equipment manufacturing to help customers move and store sensitive biological materials under tightly regulated conditions.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueTemperature-controlled logistics, biostorage, bioservices, and cryopreservation for life science customers.
Cryogenic systems such as freezers, dewars, and related accessories sold directly or through distributors.
Products
Reported · share of revenue- Products45.2 %
- Biologistics Solutions44.4 %
- Biostorage Bioservices10.4 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
Cryoport sells primarily to life sciences customers that need validated, compliant handling of sensitive biological materials. Its customer base includes biotech and pharmaceutical companies, CROs, CDMOs, central laboratories, fertility clinics, animal health companies, universities, and research facilities, with especially strong exposure to cell and gene therapy programs.
Buy logistics, storage, and cryopreservation services for clinical and commercial biologics, especially CGT programs.
Use Cryoport to move trial materials and support outsourced development/manufacturing workflows.
Need compliant, traceable transport for patient- or donor-derived materials across global trials.
Buy cryopreservation and temperature-controlled handling for reproductive materials.
Purchase cryogenic systems and logistics for biological samples and research materials.
Strategy
Cryoport is focused on deepening its position in cell and gene therapy supply chains by combining digital logistics, compliance, and global infrastructure. Management is also investing in technology, geographic expansion, and new supply chain initiatives while using the CRYOPDP divestiture and DHL partnership to sharpen its international operating model.
CGT programs require specialized, validated logistics and create sticky customer relationships.
A unified digital layer improves visibility, compliance, and execution across global shipments and storage.
The divestiture frees capital and allows focus on higher-value services and strategic partnerships.
Geography
Q1/2026Cryoport generates most of its revenue in the Americas, with meaningful exposure to EMEA and APAC. The company operates globally and uses its international footprint to support regulated life sciences supply chains, while foreign exchange and local compliance requirements affect execution and margins.
Share of the revenue the company reports by geography.
Risks
Cryoport faces execution risk from its dependence on regulated life sciences demand, especially CGT programs that can be delayed by funding or clinical setbacks. International exposure adds FX, trade, and geopolitical risk, while the company also remains vulnerable to customer concentration, government funding disruptions, and the need to keep investing before reaching sustained profitability.
- Need for continued external capitalImpact: HighLikelihood: High
The company expects near-term operating losses while investing in growth, which may require equity or debt financing.
Exposure: Liquidity and acquisition capacity
- Dependence on cell and gene therapy program activityImpact: High
Clinical and commercial programs can be delayed, canceled, or scaled back, reducing demand for specialized logistics and storage.
Exposure: BioLogistics and BioStorage demand
- Foreign currency and international operating riskImpact: MediumLikelihood: Medium
Revenue and costs in Europe and Asia are exposed to exchange-rate swings, local regulation, and geopolitical disruption.
Exposure: EMEA and APAC operations
- U.S. federal funding disruptionImpact: MediumLikelihood: Medium
Some customers rely on federal funding or agency oversight, and shutdowns can delay purchasing decisions.
Exposure: U.S. customer base
- Customer concentrationImpact: Medium
A single customer represented 10.2% of total revenue in 2025, which can create volatility if volumes change.
Exposure: Life Sciences Services segment
Accounting
Judgemental itemsRevenue is recognized upon delivery or when control transfers, so shipping cutoffs and customer-arranged couriers affect period results.
Impact: Quarterly revenue comparability
The CRYOPDP divestiture is reported separately, which changes trend analysis for continuing operations.
Impact: Segment and consolidated comparability
The company recorded prior impairments in the MVE reporting unit and still tests goodwill annually.
Impact: Non-cash earnings volatility
Changes in fair value can materially affect operating results and require judgment.
Impact: Reported earnings and balance sheet values
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Last updated: 24/09/2026