Cryoport, Inc. Files 10-Q for Period Ending March 31, 2024

AI Summary

Cryoport, Inc. (CYRX) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Cryoport, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's fiscal year ends on December 31. Cryoport, Inc. is incorporated in Nevada. The company's SIC code is 2834 (Pharmaceutical Preparations).

Why It Matters

For investors and stakeholders tracking Cryoport, Inc., this filing contains several important signals. This filing provides investors with an updated view of Cryoport's financial health and operational performance for the first quarter of 2024. Understanding the details within this 10-Q is crucial for assessing the company's current trajectory and making informed investment decisions.

Risk Assessment

Risk Level: low — Cryoport, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or material adverse events.

Analyst Insight

Review the detailed financial statements and management discussion in the 10-Q to understand Cryoport's performance drivers and outlook.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report period)
• 2024-05-08 — Filing Date (Date the report was filed)
• 1231 — Fiscal Year End (Annual fiscal year end)

Key Players & Entities

• Cryoport, Inc. (company) — Filer
• 2024-03-31 (date) — Period of report
• 2024-05-08 (date) — Filed as of date
• NV (jurisdiction) — State of incorporation
• 2834 (sic_code) — Standard Industrial Classification
• 112 Westwood Place, Suite 350 (address) — Business address street 1
• Brentwood (city) — Business address city
• TN (state) — Business address state

FAQ

Industry Context

Cryoport operates within the pharmaceutical preparations industry, providing critical logistics and supply chain solutions.

Regulatory Implications

As a publicly traded company, Cryoport is subject to SEC regulations and reporting requirements, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the revenue and expense details for Q1 2024.
2. Review any disclosed risks or uncertainties in the Management's Discussion and Analysis.
3. Compare Q1 2024 performance against prior periods and analyst expectations.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q
• 2024-05-08: Filing Date — Date the 10-Q was officially submitted to the SEC

Year-Over-Year Comparison

This is the initial filing data extracted for the 10-Q ending March 31, 2024. Comparative data from previous filings would be needed for a full analysis.

Key Financial Figures

• $0.001 — ge on which registered: Common Stock, $0.001 par value CYRX The Nasdaq Stock Mar

Filing Documents

• cyrx-20240331x10q.htm (10-Q) — 2029KB
• cyrx-20240331xex31d1.htm (EX-31.1) — 14KB
• cyrx-20240331xex31d2.htm (EX-31.2) — 13KB
• cyrx-20240331xex32d1.htm (EX-32.1) — 17KB
• cyrx-20240331x10q004.jpg (GRAPHIC) — 8KB
• 0001558370-24-007133.txt ( ) — 10694KB
• cyrx-20240331.xsd (EX-101.SCH) — 70KB
• cyrx-20240331_cal.xml (EX-101.CAL) — 95KB
• cyrx-20240331_def.xml (EX-101.DEF) — 286KB
• cyrx-20240331_lab.xml (EX-101.LAB) — 639KB
• cyrx-20240331_pre.xml (EX-101.PRE) — 504KB
• cyrx-20240331x10q_htm.xml (XML) — 2148KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements Condensed Consolidated Balance Sheets at March 31, 2024 (Unaudited) and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Comprehensive Loss for the three months ended March 31, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 31, 2024 and 2023 6 Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Quantitative and Qualitative Disclosures About Market Risk

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 39

Controls and Procedures

ITEM 4. Controls and Procedures 33

OTHER INFORMATION

PART II. OTHER INFORMATION 40

Legal Proceedings

ITEM 1. Legal Proceedings 34

Risk Factors

ITEM 1A. Risk Factors 40

Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 40

Defaults Upon Senior Securities

ITEM 3. Defaults Upon Senior Securities 40

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 35

Other Information

ITEM 5. Other Information 35

Exhibits

ITEM 6. Exhibits 42

SIGNATURES

SIGNATURES 43 Table of Contents Cryoport, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (in thousands, except share data) March 31, December 31, 2024 2023 (unaudited) ASSETS Current Assets: Cash and cash equivalents $ 49,663 $ 46,346 Short-term investments 398,881 410,409 Accounts receivable, net 41,253 42,074 Inventories 25,020 26,206 Prepaid expenses and other current assets 10,887 10,077 Total current assets 525,704 535,112 Property and equipment, net 86,008 84,858 Operating lease right-of-use assets 31,029 32,653 Intangible assets, net 190,088 194,382 Goodwill 107,588 108,403 Deposits 1,674 1,680 Deferred tax assets 758 656 Total assets $ 942,849 $ 957,744 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable and other accrued expenses $ 27,376 $ 26,995 Accrued compensation and related expenses 14,062 11,409 Deferred revenue 1,777 1,308 Current portion of operating lease liabilities 5,356 5,371 Current portion of finance lease liabilities 301 286 Current portion of notes payable 110 149 Current portion of contingent consideration — 92 Total current liabilities 48,982 45,610 Convertible senior notes, net of discount of $ 6.4 million and $ 7.0 million, respectively 379,153 378,553 Notes payable 1,305 1,335 Operating lease liabilities, net of current portion 27,798 29,355 Finance lease liabilities, net of current portion 916 954 Deferred tax liabilities 2,414 2,816 Other long-term liabilities 312 601 Contingent consideration, net of current portion 9,779 9,497 Total liabilities 470,659 468,721 Commitments and contingencies Stockholders' Equity: Preferred stock, $ 0.001 par value; 2,500,000 shares authorized: Class A convertible preferred stock - $ 0.001 par value; 800,000 shares authorized; none issued and outstanding — — Class B convertible prefer

View Full Filing

View this 10-Q filing on SEC EDGAR