Commercial cell and gene therapy (CGT) revenue grew 26% year-over-year to $9.1 million, reflecting continued expansion in approved CGT programs
Life Sciences Services revenue increased 18% year-over-year, led by 21% growth in BioStorage/BioServices
Life Sciences Products revenue increased 15% year-over-year, driven by strong demand for cryogenic systems
Supporting a record 766 global clinical trials and 21 commercially approved CGTs as of March 31, 2026
Company raises full-year revenue guidance to $192 million - $196 million
NASHVILLE, Tenn., May 4, 2026 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: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 first quarter (Q1) of 2026.
Jerrell Shelton, CEO of Cryoport, commented, "Cryoport delivered a strong start to 2026 with first-quarter revenue of $47.8 million, up 16% year-over-year, reflecting a continuation of our momentum over the past several quarters across our integrated services and products platform. Revenue in support of commercial Cell and Gene Therapies (CGT) grew 26% to $9.1 million, while clinical trial support revenue grew 18% to $12.9 million. We continue to support one of the industry's broadest CGT pipelines, and our leadership across both clinical and commercial programs positions us well for sustainable growth.
"Our Life Sciences Services segment delivered another strong quarter, with revenue increasing 18% year-over-year, including 21% growth in BioStorage/BioServices. This performance reflects the increasing scope and complexity of the Cell & Gene Therapy programs we support and underscores the critical role we play in supporting our clients with our integrated, temperature-controlled supply chain services.
"Our Life Sciences Products segment also performed very well, generating 15% revenue growth, driven by global demand for MVE Biological Solutions' cryogenic systems. MVE continues to innovate and further solidify its position as the global leader in high-quality cryogenic systems.
"This growth across both our reporting segments, combined with solid gross margins and continued operational discipline, drove a $2.2 million year-over-year improvement in adjusted EBITDA from continuing operations, advancing us meaningfully along our "pathway to profitability."
"Looking ahead, we see multiple growth catalysts extending beyond 2026, including the planned launch of BioServices operations at our Global Supply Chain Center in Paris, France in the third quarter, and the planned opening of our new Global Supply Chain Center in Santa Ana, California in the fourth quarter. These strategic investments expand our global footprint in key geographies and further strengthen our ability to support the advancement and commercialization of life-saving therapies globally. Reflecting on our strong performance in the first quarter and increased visibility into the remainder of the year, we are raising our full-year revenue guidance to $192 million to $196 million," concluded Mr. Shelton.
The following table presents Q1 2026 revenue compared with Q1 2025:
Cryoport, Inc. and Subsidiaries
Revenue
Three Months EndedMarch 31,(unaudited)
(in thousands)
2026
2025
% Change
Life Sciences Services
$ 26,898
$ 22,865
18 %
BioLogistics Solutions
21,668
18,531
17 %
BioStorage/BioServices
5,230
4,334
21 %
Life Sciences Products
$ 20,900
$ 18,175
15 %
Total Revenue
$ 47,798
$ 41,040
16 %
BioLogistics Solutions revenue increased 17% year-over-year in Q1 2026, driven by increasing customer activity, continued commercial product maturation, and clinical advancement within the CGT market. BioStorage/BioServices revenue grew 21% 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.
Revenue from the support of commercial CGTs increased 26% year-over-year to $9.1 million and as of March 31, 2026, the number of commercial therapies we support increased to 21.
As of March 31, 2026, Cryoport supported a total of 766 global clinical trials, a net increase of 55 clinical trials over March 31, 2025, with 91 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
March 31,
2024
2025
2026
Phase 1
286
304
318
Phase 2
312
328
357
Phase 3
77
79
91
Total
675
711
766
Cryoport Supported Clinical Trials by Region
Clinical Trials
March 31,
2024
2025
2026
Americas
518
544
569
EMEA
112
118
143
APAC
45
49
54
Total
675
711
766
In Q1 2026, four Biologics License Applications (BLA) / Marketing Authorization Applications (MAA) filings occurred. During the first quarter, Cryoport's customer, Rocket Pharmaceuticals, received U.S. Food and Drug Administration (FDA) accelerated approval for their gene therapy KRESLADI™ for the treatment of pediatric patients with severe leukocyte adhesion deficiency-I (LAD-I). Severe LAD-I is an ultra-rare, life-threatening pediatric genetic immunodeficiency characterized by recurrent infections and high early-childhood mortality without treatment. For the balance of 2026, we anticipate another 10 possible BLA/MAA application filings and 8 additional new therapy approvals.
Operational milestones
Life Sciences Services
BioServices launch at our Global Supply Chain Center in Paris, France, expected in Q3, 2026.
Continued progress toward the launch of our state-of-the-art Global Supply Chain Center in Santa Ana, California, expected in Q4, 2026.
First cryopreserved clinical trial patient materials shipped in Q1 for two of our clients at our IntegriCell® facilities in Belgium and the U.S.
Cryoport Systems named Best Logistics & Supply Chain Management Supplier - Digital Technology & Software at the 2026 Asia Pacific Biopharma Excellence Awards in Singapore.
Life Sciences Products
MVE Biological Solutions (MVE) introduced its new Fusion® 800 Series, the next evolution of MVE's patented, award-winning Fusion technology, a self-sustaining cryogenic freezer that eliminates the need for a continuous liquid nitrogen (LN₂) supply feed, delivering exceptional reliability, safety, and sustainability in a compact footprint designed for space-constrained environments.
Release of MVE HE (High Efficiency) cryogenic storage systems series integrated with the new MVE CryoVerse™ Connect Controller platform.
Financial Highlights
On June 11, 2025, the Company completed the divestiture of its CRYOPDP specialty courier business to DHL Group as part of a strategic partnership. 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 Q1 2026 was $47.8 million, compared to $41.0 million for Q1 2025, a year-over-year increase of 16%, or $6.8 million.
Life Sciences Services revenue for Q1 2026 (representing 56% of our total revenue) was $26.9 million, compared to $22.9 million for Q1 2025, up 18% year-over-year, including BioStorage/BioServices revenue of $5.2 million, up 21% year-over-year.
Life Sciences Products revenue for Q1 2026 (representing 44% of our total revenue) was $20.9 million, compared to $18.2 million for Q1 2025, up 15% year-over-year.
Gross Margin
Total gross margin was 45.8% for Q1 2026, compared to 45.4% for Q1 2025.
Gross margin for Life Sciences Services was 48.9% for Q1 2026, compared to 47.9% for Q1 2025.
