Cryoport Q1 Revenue Jumps 16% to $47.8M, Raises Guidance to $196M
Cryoport's Q1 revenue rose 16% year-over-year to $47.8 million, driven by 26% growth in commercial cell and gene therapy services to $9.1 million, 18% life sciences services growth and 15% products growth. The company supported 766 clinical trials, reached 21 approved CGTs and raised full-year guidance to $192 million–$196 million.
1. Q1 Financial Performance
Cryoport posted Q1 2026 revenue of $47.8 million, up 16% year-over-year. Life Sciences Services revenue increased 18% to $26.9 million, including 17% growth in BioLogistics Solutions and 21% in BioStorage/BioServices, while Life Sciences Products grew 15% to $20.9 million. Adjusted EBITDA improved by $2.2 million year-over-year.
2. Clinical and Commercial Milestones
As of March 31, 2026, Cryoport supported 766 global clinical trials, up 55 trials year-over-year, including 91 Phase 3 studies. Commercial cell and gene therapy support revenue rose 26% to $9.1 million, and the number of approved CGTs under its network reached 21.
3. Outlook and Strategic Investments
Cryoport raised its full-year 2026 revenue guidance to $192 million–$196 million. The company plans to launch a BioServices operation in Paris in Q3 and open a new Global Supply Chain Center in Santa Ana, California in Q4, expanding its global temperature-controlled network.