Cryoport, Inc.

Cryoport reported second-quarter total revenue of $49 million. Life Science Services revenue grew 15% year over year, driven by 25% growth in biostorage and bioservices. Revenue supporting commercial cell and gene therapies rose 9% to $9.4 million, while revenue supporting cell and gene therapy clinical trials increased 12% to $13.4 million. Adjusted EBITDA from continuing operations improved by $1.3 million year over year to positive $400,000. Management reaffirmed full-year 2026 revenue guidance of $192 million to $196 million. On the cash side, the company said it generated approximately $5 million of positive net cash from operating activities in the first half of 2026, up $17 million versus the first half of 2025.

Jerrell Shelton said the quarter showed continued revenue momentum, stronger profitability, and progress across the company’s integrated temperature-controlled supply chain platform. He emphasized Cryoport’s leadership in cell and gene therapy support, the importance of new commercial approvals and clinical pipeline growth, and the long-term opportunity in standardizing services like IntegriCell and expanding global infrastructure. His tone was confident but measured, especially on guidance, where he said holding the range was prudent because of global uncertainty.

Robert Stefanovich focused on the financial trajectory, saying the key assumptions behind 2026 outlook were largely unchanged and demand remains robust across both Life Science Services and Life Science Products. He highlighted that positive adjusted EBITDA in Q2 showed the strategy is working, and said higher utilization of the global supply chain center network should drive additional operating leverage and more EBITDA expansion. He also pointed to approximately $5 million of positive operating cash flow in the first half of 2026, a $17 million improvement year over year, as evidence of the path to sustainable profitability.

On guidance, analysts asked why full-year revenue guidance was unchanged despite first-half revenue of about $97 million and a Q2 beat. Management said it was a prudent stance because of geopolitical and macro uncertainty, not a change in underlying business fundamentals. On products growth, management said the outlook is still in the upper single digits and that MVE is on solid ground, with the business remaining a strong cash generator. Questions on China, IntegriCell, and the Fusion freezer drew responses that these are important strategic opportunities, but IntegriCell will ramp slowly due to regulatory and workflow adoption hurdles, while China production is intended to improve competitiveness and avoid tariffs.