Business
Cryoport Reports Record Third Quarter and Nine Months Revenue for 2021
- Third quarter revenue increased 407% year over year, reaching $56.7 million; Nine Months 2021 revenue $166.2 million - Organic Revenue Growth of 38% coupled
About this update from Cryoport, Inc.
[{"type":"text","content":"- Third quarter revenue increased 407% year over year, reaching $56.7 million; Nine Months 2021 revenue $166.2 million\n - Organic Revenue Growth of 38% coupled with continuing strong performance by MVE Biological Solutions and CRYOPDP\n - Now supporting a record 582 clinical trials and eight commercial therapies in regenerative medicine\n\n\nNASHVILLE, Tenn., Nov. 4, 2021 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) (\"Cryoport\" or the \"Company\"), a global leader in temperature-controlled supply chain solutions for the life sciences industry, today announced financial results for the three- and nine-month periods ended September 30, 2021.\n\n \n \n \n \n \n \n\n \nJerrell Shelton, CEO of Cryoport, commented, \"We delivered an outstanding third quarter and nine months of the year for the Company with strength across the board in all areas of our business. During the third quarter, our total revenue grew to a record $56.7 million driven by 38% organic growth year-over-year from Cryoport Systems and CRYOGENE and continuing strong revenue performance by MVE Biological Solutions and CRYOPDP. Our robust performance was driven by superlative execution by our global teams across all our business units. Our markets are strong and growing. Demand for MVE Biological Solutions' products remained at record highs, Cryoport Systems added 38 new customers during the quarter, and we successfully expanded the footprints for both CRYOPDP and CRYOGENE.\n\"Our Biopharma/Pharma revenue increased 371% year over year in the third quarter of 2021 or 41%, organically. But the story does not end there, we now support a record 582 clinical trials, compared with 561 at the end of the second quarter of 2021 and 517 at the end of the third quarter of 2020. We also support eight commercial therapies in regenerative medicine, including Novartis' KYMRIAH®, Gilead/Kite's YESCARTA® and TECARTUS®, bluebird bio's ZYNTEGLO™ and SKYSONA™, Bristol Myers Squibb's BREYANZI® and ABECMA® and Orchard Therapeutics' LIBMELDY™. Additionally, four of the approved therapies received extended or supplemental approvals in the third quarter.\n\"Our revenue by market for the three- and nine-months ended September 30, 2021, as compared to the same periods in 2020 was as follows:\nCryoport, Inc. and Subsidiaries\nTotal revenues by market\n(unaudited)\nThree Months Ended September...