Cryoport, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Cryoport, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025
Revenue	7.68	12	19.6	33.9	78.7	223	237	169	157	176
Cost of revenue	4.58	5.99	9.39	16.6	42.4	126	133	93.3	87.1	93.1
Gross profit	3.1	5.97	10.2	17.4	36.3	96.6	104	75.3	69.7	83.1
Research and development	0.6	1.21	1.84	3.74	9.48	16.8	15.7	18	17.7	17
Selling, general and administrative				31.3	56.9	97.6	120	108	110	103
Selling and marketing	4.82	5.23	7.25	13.8
General and administrative	6.45	7.42	9.8	17.5
Operating expenses	11.9	13.9	18.9	35	66.3	114	136	176	191	120
Operating income	-8.77	-7.89	-8.64	-17.7	-30	-17.8	-31.9	-101	-122	-36.8
Interest expense	0.14	0.02	0.07	1.37	2.56	4.69	6.14	5.5	3.98	2.36
Other non-operating income	-4.34	-0	-0.89	-0.6	-2.73	-256	-3.19	16.3	17.3	4.64
Pre-tax income	-13.1	-7.89	-9.54	-18.3	-32.7	-274	-35.1	-84.2	-104	-32.2
Income tax	0.01	0.01	0.02	0.06	-0.05	1.69	2.24	0.35	0.36	1.8
Income from continuing operations								-84.6	-105	-34
Net income	-13.1	-7.9	-9.56	-18.3	-32.7	-276	-37.3	-99.6	-115	78.3
EBITDA	-8.39	-7.23	-7.79	-15.3	-20.1	2.42	-9.14	-73.1	-90.9	-9.09
EPS, basic	-0.93	-0.34	-0.34	-0.55	-1.94	-6.18	-0.93	-2.21	-2.49	1.40
EPS, diluted	-0.93	-0.34	-0.34	-0.55	-1.94	-6.18	-0.93	-2.21	-2.49	1.40
Shares, basic (weighted)	14.2	23	28.2	33.4	38.6	45.9	49	48.7	49.3	50.1
Shares, diluted (weighted)	14.2	23	28.2	33.4	38.6	45.9	49	48.7	49.3	50.1

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	4.52	15	37.3	47.2	36.9	139	29.2	35.2	34.1	250
Short-term investments		0	9.93	47.1	56.4	490	487	410	216	161
Receivables	1.2	1.63	3.54	7.1	31.4	39.4	43.9	42.1	25.3	33.4
Inventory	0.09	0.11	0.22	0.47	10.5	16.5	27.7	26.2	21.5	23.2
Other current assets	0.29	0.52	0.75	1.1	11.9	8.8	9.32	10.1	7.94	8.42
Total current assets	6.1	17.3	51.8	103	147	694	604	535	342	476
Property, plant and equipment	1.65	2.51	4.36	11.8	30	49	63.6	84.9	80	85.4
Lease right-of-use assets			0	4.46	14	20.7	26.9	32.7	39.9	39.7
Goodwill			0	11	145	147	151	76.4	20.6	22.4
Intangible assets	0.01	0.09	0.14	5.18	214	201	191	194	148	138
Other non-current assets				0	0.79	0.42	0.95
Total assets	8.11	20.3	56.6	136	552	1,113	1,039	958	703	765
Accounts payable	1.16	1.2	1.71	2.5	24.8	28.6	28	27	15.9	15.3
Accrued liabilities	0.42	0.93	1.26	1.9	7.44	9.91	8.46	11.4	11.2	13
Deferred revenue		0.07	0.07	0.37	0.45	0.55	0.44	1.31	1.06	0.94
Total current liabilities	2.23	2.2	3.06	5.46	35	42.6	40.9	45.6	64.6	219
Long-term debt				0	4.91	1.09	0.36	1.34	1.11	1.09
Lease liabilities			0	4.1	12.3	18.1	24.7	29.4	38.6	39.1
Other non-current liabilities				0	0.18	0.3	0.45	0.6	0.3	0.44
Total liabilities	2.43	2.38	18.1	9.59	170	471	483	469	302	262
Paid-in capital	129	149	180	286	566	1,100	1,115	1,131	1,146	1,153
Retained earnings	-124	-131	-141	-159	-192	-468	-543	-642	-757	-689
Treasury stock							-37.9
Other comprehensive income		0	0	-0.05	5.38		-34.5	-26.1	-20.9	-3.48
Shareholders' equity	5.68	17.9	38.5	126	383	642	556	489	402	503
Total equity	5.68	17.9	38.5	126	383	642	556	489	402	503
Total liabilities and equity	8.11	20.3	56.6	136	552	1,113	1,039	958	703	765
Shares outstanding	17.6	25.7	30.3	37.3	39.8	49.6	48.3	49	49.9	49.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025
Net income	-13.1	-7.9	-9.56	-18.3	-32.7	-276	-37.3	-99.6	-115	78.3
Depreciation and amortization	0.37	0.66	0.86	2.42	9.87	20.2	22.8	27.5	30.8	27.7
Stock-based compensation	3.12	3.55	5.48	16.5	8.92	15.3	20.1	19.8	16.6	10.1
Deferred income tax		0	0	0.02	-0.5	0.23	-0.41	-1.98	-0.38	0.66
Change in inventory	-0.07	-0.03	-0.11	-0.25	1.32	-5.98	-14.2	1.51	3.25	-2.19
Change in payables	0.05	0.12	0.41	0.57	4.25	-0.4	-6.48	-2.77	-0.08	-3.46
Cash from operations	-5.72	-3.58	-3.35	-1.32	-14.9	8.13	-1.85	-0.76	-16.3	-8.58
Capital expenditures	-1.06	-1.71	-2.91	-5.34	-8.92	-23.9	-22.1	-38.8	-17.3	-16.4
Acquisitions				-20.3	-363	-5.54	-6.55	-7.34	-0.31
Purchases of investments		0	-9.92	-43.2	-159	-483	-164	-42.7	-50.7
Cash from investing	-1.07	-1.8	-12.9	-62.9	-382	-469	-59.7	36	177	250
Debt repaid								-25	-164
Stock issued	0	0	9.81	0	28.2	0		1.48	2.79	3.97
Share buybacks					0	0	-38			-10
Cash from financing	6.06	15.9	38.5	74.2	386	564	-39.2	-23.8	-162	-21.1
Exchange rate effect		0	-0.01	0.01	1.23	-0.99	-1.8	-1.74	-0.02	-15.5
Net change in cash	-0.72	10.5	22.3	9.91	-10.4	102	-103	9.75	-1.06	205
Free cash flow	-6.78	-5.3	-6.27	-6.66	-23.8	-15.8	-24	-39.5	-33.6	-25
Interest paid	0.01	0	0	0.71	1.82	3.3	3.63	3.4	2.69	1.63
Income taxes paid	0.01	0.01	0.02	0.01	0.06	1.32	1.98	0.71	0.76	1.94

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $17.41 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	47.1%	Gross profit / revenue.
Operating margin	-21.2%	Operating income / revenue.
EBITDA margin	-7.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-16.6%	Pre-tax income / revenue.
Net margin	-20.1%	Net income / revenue.
FCF margin	-10.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	4.3%	Cash from operations / revenue.
Return on equity (ROE)	-7.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-4.9%	Net income / average total assets.
Return on invested capital (ROIC)	-14.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	9.5%	Research and development expense / revenue.
SG&A / revenue	58.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	5.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	15.0%	Capital expenditures / revenue.
D&A / revenue	13.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	12.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-9.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	17.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	19.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-7.2%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	18.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	25.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-3.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	5.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	8.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-9.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	6.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	5.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.08x	Current assets / current liabilities.
Quick ratio	1.96x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.79x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	35.1%	Total liabilities / total assets.
Interest coverage	-18.8x	Operating income / interest expense.
Working capital	$239.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	20.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	$332.6M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.25x	Revenue / average total assets.
Fixed asset turnover	1.97x	Revenue / average property, plant and equipment.
Inventory turnover	4.59x	Cost of revenue / average inventory.
Days inventory	80 days	365 x average inventory / cost of revenue.
Receivables turnover	5.11x	Revenue / average receivables.
Days sales outstanding	71 days	365 x average receivables / revenue.
Days payables	60 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	91 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	351.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.74	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$3.70	Revenue / diluted weighted shares.
FCF per share	-$0.40	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.16	Cash from operations / diluted weighted shares.
Book value per share	$9.69	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$6.57	Tangible book value / shares outstanding.
Cash per share	$7.83	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$881.8M	Share price x shares outstanding.
Enterprise value	$485.1M	Market cap + total debt - cash - short-term investments.
P/S	4.73x	Market cap / revenue.
P/B	1.80x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.65x	Market cap / tangible book value, when positive.
P/OCF	111x	Market cap / cash from operations, when positive.
EV/Sales	2.60x	Enterprise value / revenue.
FCF yield	-2.3%	Free cash flow / market cap.
Earnings yield	-4.2%	Net income / market cap (the inverse of P/E).

What was Cryoport, Inc.'s revenue in fiscal 2025?

Cryoport, Inc. reported revenue of $176.2M for fiscal 2025, 12.4% higher than the year before.

Was Cryoport, Inc. profitable in fiscal 2025?

Yes. Net income was $78.3M, a net margin of 44.4%.

How much free cash flow did Cryoport, Inc. generate in fiscal 2025?

Cash from operations of $8.6M minus capital expenditures of $16.4M left free cash flow of -$25.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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