# Cryoport, Inc. (CYRX)

> Source: Nexqual · https://nexqual.com/CYRX · data as of 2026-10-29 14:17 UTC · cite as "Nexqual, Cryoport, Inc. (CYRX), nexqual.com/CYRX" · informational, not investment advice.

**Price:** USD 18.43 (-1.15% today) · US market open, as of October 29, 2026 at 14:17 UTC; quotes may be delayed. Prev close 18.64 · day 18.31–18.69 · 52w 7.61–18.88 · market cap $933M · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $186M, net income -$37.4M (-20.1% margin), free cash flow -$20.0M (SEC filings).
- 1 of 80 tracked superinvestors hold CYRX (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $4.1M; 3 not under a Rule 10b5-1 plan ($3.6M); 0 by opportunistic insiders, 2 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (9 analysts), mean target USD 19.78 (range 15–26).
- Total return with dividends: 1Y +99.4% vs S&P 500 +13.1%; 5Y -77.4% vs S&P 500 +79.1%.
- Next earnings: 2026-11-05, EPS estimate USD -0.17, revenue estimate $48.7M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $223M | $237M | $169M | $157M | $176M | $186M |
| Gross profit | $96.6M | $104M | $75.3M | $69.7M | $83.1M | — |
| Operating income | -$17.8M | -$31.9M | -$101M | -$122M | -$36.8M | -$39.6M |
| Net income | -$276M | -$37.3M | -$99.6M | -$115M | $78.3M | -$37.4M |
| EPS (diluted) | -$6.18 | -$0.93 | -$2.21 | -$2.49 | $1.40 | — |
| Free cash flow | -$15.8M | -$24.0M | -$39.5M | -$33.6M | -$25.0M | -$20.0M |
| Gross margin | 43.4% | 43.8% | 44.7% | 44.4% | 47.1% | — |
| Operating margin | -8.0% | -13.4% | -59.6% | -77.6% | -20.9% | -21.2% |
| Net margin | -123.8% | -15.7% | -59.0% | -73.2% | 44.4% | -20.1% |
| Revenue growth | +182.9% | +6.6% | -28.9% | -7.1% | +12.4% | — |
| Cash + short-term investments | $629M | $523M | $457M | $251M | $411M | — |
| Total debt | $404M | $407M | $379M | $184M | $1.1M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 5.0x · EV/Sales 2.9x · P/B 1.9x · FCF yield -2.15% · Earnings yield -4.01% · Net cash $396M · EV $537M
P/E at fiscal year-ends: Dec 2025 6.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold CYRX. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.03% | $20.0M | Added +70.7% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
1 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-11 | Shelton Jerrell | President, CEO | 28,800 | $429K | 2.3% | Yes (adopted May 11, 2026) | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
| 2026-06-10…2026-06-11 | Zecchini Edward J | Chief Digital and Tech Officer | 35,000 | $508K | 24.2% | No | Too little history (no open-market trades in 2023) |
| 2026-06-08 | Mandalam Ramkumar | Director | 23,214 | $358K | 25.5% | No | Too little history (no open-market trades in 2023) |
| 2026-06-04 | Stefanovich Robert | Chief Financial Officer | 169,427 | $2.8M | 60.7% | No | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 9 analysts; mean target USD 19.78 (low 15, high 26).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | BTIG | Target raised | Buy | $25 → $26 |
| 2026-10-01 | Guggenheim | Target raised | Buy | $16 → $19 |
| 2026-09-18 | BTIG | Reiterated | Buy | $25 |
| 2026-08-07 | Guggenheim | Target raised | Buy | $12 → $16 |
| 2026-08-07 | Needham | Target raised | Buy | $15 → $19 |
| 2026-07-24 | BTIG | Target raised | Buy | $17 → $25 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +99.4% | -77.4% |
| S&P 500 (SPY) | +13.1% | +79.1% |
| Per year | +99.5% | -25.7% |
| Volatility (annualized) | 45.8% | 68.2% |
| Max drawdown | -31.5% (Jan 2026→Mar 2026) | -93.4% (Oct 2021→Mar 2025) |

## Peers (Integrated Freight & Logistics)
FWRD (Forward Air Corporation) USD 17.88 +1.94% · HUBG (Hub Group, Inc.) USD 26.26 -0.06% · RLGT (Radiant Logistics, Inc.) USD 9.02 -0.22% · PBI (Pitney Bowes Inc.) USD 17.32 -0.69% · LSTR (Landstar System, Inc.) USD 141.1 +1.65% · GXO (GXO Logistics, Inc.) USD 49.67 +0.58%

## More
Full page: https://nexqual.com/CYRX · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CYRX's own 10-K filed 2026-03-05 (https://www.sec.gov/Archives/edgar/data/1124524/000110465926024180/cyrx-20251231x10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | DHL Supply Chain International Holding | "The divestiture and strategic partnership with DHL are expected to enhance our ability to develop our business, particularly in the Europe, the Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions, and to provi…" |
| Competitor | Cencora (COR) | "Life Sciences Services competition is primarily with specialty couriers, who fall into the category of coopetition and include companies such as World Courier (a Cencora company), UPS Healthcare, Quick (a Kuehne+Nagel co…" |
| Competitor | UPS (UPS) | "Life Sciences Services competition is primarily with specialty couriers, who fall into the category of coopetition and include companies such as World Courier (a Cencora company), UPS Healthcare, Quick (a Kuehne+Nagel co…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Reportable Segment Aggregation Before Other Operating | $49.0M | 100.0% | +7.7% |
| — Life Sciences Services (part of Reportable Segment Aggregation Before Other Operating) | $28.2M | 57.6% | +9.3% |
| — Life Sciences Products (part of Reportable Segment Aggregation Before Other Operating) | $20.8M | 42.4% | +5.7% |
| Total revenue | $49.0M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Service | $28.0M | 57.1% | +14.8% |
| — Biologistics Solutions (part of Service) | $22.4M | 45.7% | +12.5% |
| — Biostorage Bioservices (part of Service) | $5.6M | 11.5% | +24.8% |
| Product | $21.0M | 42.9% | -0.4% |
| Total revenue | $49.0M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Americas | $36.9M | 75.3% | +11.0% |
| EMEA | $8.0M | 16.4% | +37.7% |
| Asia Pacific | $4.0M | 8.3% | -36.6% |
| Total revenue | $49.0M | 100% | — |

## Customer concentration

Period ended 2026-06-30: 11.2% of revenue from unnamed direct customers (10-Q, filed 2026-08-06).

## Company outlook (8-K filed 2026-08-06)

- "For the balance of 2026, we anticipate another 11 possible BLA/MAA applications, five possible additional new therapy approvals, and one possible additional approval for label/geographic expansion from our customer base."
- "Advanced toward the planned launch of BioServices operations at our Global Supply Chain Center in Paris, France, expected in Q4 2026. ·"
- "Continued progress toward the launch of our state-of-the-art Global Supply Chain Center in Santa Ana, California, expected in Q4 2026. ·"

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.17 | $-0.16 | −$0.01 | $48.7M | 3 |
| Next quarter (ends 2026-12-31) | $-0.17 | $-0.15 | −$0.02 | $50.0M | 3 |
| Current fiscal year (ends 2026-12-31) | $-0.77 | $-0.73 | −$0.04 | $195.5M | 3 |
| Next fiscal year (ends 2027-12-31) | $-0.66 | $-0.62 | −$0.04 | $215.2M | 3 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.20 | −$0.18 | Miss −11.1% | — |
| — | Quarter ended Mar 31, 2026 | −$0.19 | −$0.19 | In line | — |
| — | Quarter ended Dec 31, 2025 | −$0.17 | −$0.21 | Beat +19.0% | — |
| — | Quarter ended Sep 30, 2025 | −$0.13 | −$0.19 | Beat +31.6% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-08-14 | Schedule 13G/A | Cadian Capital Management, LP, Cadian Capital Management GP, LLC: 5.8% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1124524/000101143826000542/0001011438-26-000542-index.htm |
| 2026-08-13 | Schedule 13G/A | Morgan Stanley, Morgan Stanley Capital Services LLC: 4.5% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1124524/000089542126000261/0000895421-26-000261-index.htm |
| 2026-08-06 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1124524/000110465926092107/0001104659-26-092107-index.htm |
| 2026-08-06 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1124524/000110465926092064/0001104659-26-092064-index.htm |
| 2026-07-29 | Schedule 13G/A | Integrated Core Strategies (US) LLC, Millennium Management LLC: 3.4% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1124524/000110465926088284/0001104659-26-088284-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.