$CYRX
Cryoport, Inc.

2021 Q2 Form 10-Q Financial Statement

#000110465921100909 Filed on August 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $56.19M $9.389M
YoY Change 498.48% 10.93%
Cost Of Revenue $30.79M $4.262M
YoY Change 622.41% 3.32%
Gross Profit $25.40M $5.127M
YoY Change 395.46% 18.19%
Gross Profit Margin 45.21% 54.61%
Selling, General & Admin $24.69M $9.026M
YoY Change 173.52% 47.92%
% of Gross Profit 97.19% 176.05%
Research & Development $4.462M $1.947M
YoY Change 129.17% 259.93%
% of Gross Profit 17.57% 37.98%
Depreciation & Amortization $4.947M $850.0K
YoY Change 482.0% 70.0%
% of Gross Profit 19.47% 16.58%
Operating Expenses $29.15M $10.97M
YoY Change 165.65% 65.19%
Operating Profit -$3.748M -$5.845M
YoY Change -35.88% 153.69%
Interest Expense $1.164M $398.0K
YoY Change 192.46% 19.19%
% of Operating Profit
Other Income/Expense, Net -$1.142M $93.00K
YoY Change -1327.96% -22.14%
Pretax Income -$4.890M -$5.753M
YoY Change -15.0% 128.4%
Income Tax $499.0K $50.00K
% Of Pretax Income
Net Earnings -$5.389M -$5.803M
YoY Change -7.13% 129.5%
Net Earnings / Revenue -9.59% -61.81%
Basic Earnings Per Share -$0.16 -$0.15
Diluted Earnings Per Share -$0.16 -$151.5K
COMMON SHARES
Basic Shares Outstanding 45.76M
Diluted Shares Outstanding 45.76M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $349.4M $208.2M
YoY Change 67.83% 119.85%
Cash & Equivalents $60.36M $44.33M
Short-Term Investments $289.1M $191.2M
Other Short-Term Assets $12.57M $900.0K
YoY Change 1297.11% 80.0%
Inventory $11.67M $538.4K
Prepaid Expenses
Receivables $38.10M $7.039M
Other Receivables $0.00 $0.00
Total Short-Term Assets $411.8M $216.7M
YoY Change 90.02% 113.06%
LONG-TERM ASSETS
Property, Plant & Equipment $37.81M $13.70M
YoY Change 175.94% -5.5%
Goodwill $147.0M $11.00M
YoY Change 1236.13%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $759.0K $500.0K
YoY Change 51.8% 25.0%
Total Long-Term Assets $413.6M $36.09M
YoY Change 1045.9% 14.94%
TOTAL ASSETS
Total Short-Term Assets $411.8M $216.7M
Total Long-Term Assets $413.6M $36.09M
Total Assets $825.3M $252.8M
YoY Change 226.5% 89.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.34M $6.500M
YoY Change 351.32% 91.18%
Accrued Expenses $8.304M $2.500M
YoY Change 232.16% 19.05%
Deferred Revenue $459.0K $330.3K
YoY Change 38.98%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $55.00K $100.0K
YoY Change -45.0%
Total Short-Term Liabilities $38.15M $9.442M
YoY Change 304.11% 65.64%
LONG-TERM LIABILITIES
Long-Term Debt $116.4M $111.1M
YoY Change 4.76% 655.78%
Other Long-Term Liabilities $176.0K $5.500M
YoY Change -96.8% 41.03%
Total Long-Term Liabilities $176.0K $116.6M
YoY Change -99.85% 526.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.15M $9.442M
Total Long-Term Liabilities $176.0K $116.6M
Total Liabilities $177.3M $126.1M
YoY Change 40.56% 416.88%
SHAREHOLDERS EQUITY
Retained Earnings -$200.9M -$169.1M
YoY Change 18.85%
Common Stock $841.6M $295.5M
YoY Change 184.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $648.0M $126.7M
YoY Change
Total Liabilities & Shareholders Equity $825.3M $252.8M
YoY Change 226.5% 89.91%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$5.389M -$5.803M
YoY Change -7.13% 129.5%
Depreciation, Depletion And Amortization $4.947M $850.0K
YoY Change 482.0% 70.0%
Cash From Operating Activities $2.626M -$1.370M
YoY Change -291.68% 29.25%
INVESTING ACTIVITIES
Capital Expenditures -$4.213M -$1.990M
YoY Change 111.71% 34.46%
Acquisitions
YoY Change
Other Investing Activities -$26.69M -$117.1M
YoY Change -77.2% 487.01%
Cash From Investing Activities -$30.91M -$119.1M
YoY Change -74.04% 455.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.886M 114.1M
YoY Change -98.35% 62.21%
NET CHANGE
Cash From Operating Activities 2.626M -1.370M
Cash From Investing Activities -30.91M -119.1M
Cash From Financing Activities 1.886M 114.1M
Net Change In Cash -26.39M -6.290M
YoY Change 319.6% -113.14%
FREE CASH FLOW
Cash From Operating Activities $2.626M -$1.370M
Capital Expenditures -$4.213M -$1.990M
Free Cash Flow $6.839M $620.0K
YoY Change 1003.06% 47.62%

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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2020Q2 us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2020Q2 cyrx Stock Issued During Period Value Stock Options And Warrants Exercised
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CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Profit Loss
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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cyrx Stock Issued During Period Value Stock Options And Warrants Exercised
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us-gaap Profit Loss
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us-gaap Stock Issued During Period Value Share Based Compensation
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us-gaap Amortization Of Financing Costs And Discounts
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us-gaap Unrealized Gain Loss On Investments
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us-gaap Unrealized Gain Loss On Investments
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cyrx Realized Loss On Investments In Equity Securities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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cyrx Realized Loss On Investments In Equity Securities
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us-gaap Debt Securities Available For Sale Realized Gain Loss
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us-gaap Debt Securities Available For Sale Realized Gain Loss
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Provision For Doubtful Accounts
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us-gaap Increase Decrease In Long Term Receivables Current
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Deposit Other Assets
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us-gaap Increase Decrease In Deposit Other Assets
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cyrx Right Of Use Asset Obtained In Exchange For Operating Leases Liability
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-220000
cyrx Right Of Use Asset Obtained In Exchange For Operating Leases Liability
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-13000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Employee Related Liabilities
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us-gaap Increase Decrease In Employee Related Liabilities
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Deferred Income Tax Expense Benefit
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105000
us-gaap Deferred Income Tax Expense Benefit
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36000
us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Develop Software
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449000
us-gaap Payments To Develop Software
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
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us-gaap Payments To Acquire Businesses And Interest In Affiliates
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us-gaap Payments To Acquire Businesses And Interest In Affiliates
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us-gaap Payments To Acquire Intangible Assets
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109000
us-gaap Payments To Acquire Intangible Assets
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75000
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Warrant Exercises
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us-gaap Proceeds From Convertible Debt
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us-gaap Proceeds From Convertible Debt
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115000000
us-gaap Proceeds From Issuance Initial Public Offering
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269825000
us-gaap Proceeds From Issuance Initial Public Offering
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us-gaap Payments Of Financing Costs
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us-gaap Payments Of Financing Costs
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cyrx Repayment Of Finance Lease Liabilities
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32000
cyrx Repayment Of Finance Lease Liabilities
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32000
us-gaap Net Cash Provided By Used In Financing Activities
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273276000
us-gaap Net Cash Provided By Used In Financing Activities
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116991000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36873000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
60357000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Conversion Of Stock Amount Converted1
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us-gaap Conversion Of Stock Amount Converted1
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cyrx Cost Of Series C Preferred Stock Conversion Included In Additional Paid In Capital And Accounts Payable And Accrued Liabilities
CostOfSeriesCPreferredStockConversionIncludedInAdditionalPaidInCapitalAndAccountsPayableAndAccruedLiabilities
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cyrx Cost Of Series C Preferred Stock Conversion Included In Additional Paid In Capital And Accounts Payable And Accrued Liabilities
CostOfSeriesCPreferredStockConversionIncludedInAdditionalPaidInCapitalAndAccountsPayableAndAccruedLiabilities
0
cyrx Goodwill Adjustment Included In Deferred Tax Liability
GoodwillAdjustmentIncludedInDeferredTaxLiability
877000
cyrx Goodwill Adjustment Included In Deferred Tax Liability
GoodwillAdjustmentIncludedInDeferredTaxLiability
0
cyrx Goodwill Adjustment Included In Fixed Assets
GoodwillAdjustmentIncludedInFixedAssets
71000
cyrx Goodwill Adjustment Included In Fixed Assets
GoodwillAdjustmentIncludedInFixedAssets
0
cyrx Acquiree Working Capital Settlement Included In Goodwill And Accounts Payable
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500000
cyrx Acquiree Working Capital Settlement Included In Goodwill And Accounts Payable
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0
cyrx Note Valuation Adjustment Included In Note Payable And Goodwill
NoteValuationAdjustmentIncludedInNotePayableAndGoodwill
275000
cyrx Note Valuation Adjustment Included In Note Payable And Goodwill
NoteValuationAdjustmentIncludedInNotePayableAndGoodwill
0
cyrx Non Cash Net Unrealized Gain On Available For Sale Securities
NonCashNetUnrealizedGainOnAvailableForSaleSecurities
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cyrx Non Cash Net Unrealized Gain On Available For Sale Securities
NonCashNetUnrealizedGainOnAvailableForSaleSecurities
336000
cyrx Reclassification Of Realized Gain On Available For Sale Debt Securities To Earnings
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-38000
cyrx Reclassification Of Realized Gain On Available For Sale Debt Securities To Earnings
ReclassificationOfRealizedGainOnAvailableForSaleDebtSecuritiesToEarnings
27000
cyrx Purchase Of Equipment Through Capital Lease Obligation
PurchaseOfEquipmentThroughCapitalLeaseObligation
0
cyrx Purchase Of Equipment Through Capital Lease Obligation
PurchaseOfEquipmentThroughCapitalLeaseObligation
205000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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cyrx Convertible Debt Costs Included In Accounts Payable And Accrued Liabilities
ConvertibleDebtCostsIncludedInAccountsPayableAndAccruedLiabilities
0
cyrx Convertible Debt Costs Included In Accounts Payable And Accrued Liabilities
ConvertibleDebtCostsIncludedInAccountsPayableAndAccruedLiabilities
212000
us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Note 2. Nature of the Business</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Cryoport is a life sciences services company that is an integral part of the temperature-controlled supply chain supporting the biopharma/pharma, animal health, and reproductive medicine markets. We are redefining logistics for the life sciences industry by providing a unique platform of critical solutions including highly differentiated temperature-controlled supply chain solutions, which include advanced packaging, informatics, specialty logistics services, biostorage services and cryogenic life sciences equipment. Through our products, services and expertise, we enable our clients to ship, store and deliver cellular-based materials and drug products as well as other life sciences commodities in a precise, defined temperature-controlled state.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Cryoport’s advanced platform, comprised of comprehensive and technology-centric systems and solutions are designed to support the global high-volume distribution of commercial biologic and cell-based products and therapies regulated by the United States Food and Drug Administration (FDA) and other international regulatory bodies for distribution in the Americas, EMEA (Europe, the Middle East, and Africa) and APAC (Asia-Pacific) regions. Cryoport’s solutions are also designed to support pre-clinical and clinical trials, Biologics License Applications (BLA), Investigational New Drug Applications (IND), New Drug Applications (NDA) and Commercialized Products with the FDA, as well as global clinical trials and commercialized products initiated in other countries, where strict regulatory compliance and quality assurance is mandated. Our industry standard setting Chain of Compliance<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">TM</sup> solutions, which include vital analytics, such as ‘chain-of-condition’ and ‘chain-of-custody’ information in a single data stream, empower our clients’ continuous vigilance over their respective commodities. In addition, our Chain of Compliance<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">TM</sup> standard ensures full traceability of all equipment used and the processes employed, further supporting each client’s goal of minimizing risk and maximizing success of their respective biologics or other products and therapies as they are introduced into the global markets.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">On August 21, 2020, the Company entered into a Securities Purchase Agreement to acquire CRYOPDP, a leading global provider of innovative temperature-controlled logistics solutions to the clinical research, pharmaceutical and cell and gene therapy markets, headquartered in Paris, France. Under the terms of the Securities Purchase Agreement, the Company acquired 100% of the equity interests in Advanced Therapy Logistics and Solutions, a company organized under the laws of France, which is the holding company that owns CRYOPDP (the “CRYOPDP Acquisition”). The purchase price under the Securities Purchase Agreement was €49 million (approximately $58.0 million), subject to customary closing working capital and other adjustments. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">On August 24, 2020, the Company entered into a Purchase Agreement with Chart Industries, Inc. (“Chart”) pursuant to which the Company acquired Chart’s MVE Biological Solutions’ (“MVE”) cryobiological storage business (the “MVE Acquisition”) for a cash purchase price at closing of $320 million, subject to customary closing working capital and other adjustments. The MVE Acquisition was structured as the acquisition of certain equity interests and assets and the transfer of certain liabilities in connection therewith.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">On October 1, 2020, the Company completed both the MVE Acquisition and the CRYOPDP Acquisition.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The Company is a Nevada corporation and its common stock is traded on the NASDAQ Capital Market exchange under the ticker symbol “CYRX.”</p>
cyrx Maturity Period Of Highly Liquid Investments
MaturityPeriodOfHighlyLiquidInvestments
P90D
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from estimated amounts. The Company’s significant estimates include the allowance for doubtful accounts, fair value of short-term investments, valuations, purchase price allocations and contingent consideration related to business combinations, expected future cash flows including growth rates, discount rates, terminal values and other assumptions and estimates used to evaluate the recoverability of long-lived assets, estimated fair values of intangible assets and goodwill, intangible asset useful lives and amortization methods, allowance for inventory obsolescence, equity-based instruments, tax reserves and recoverability of the Company’s net deferred tax assets and related valuation allowance.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Although the Company regularly assesses these estimates, actual results could differ materially from these estimates. Changes in estimates are recorded in the period in which they become known. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Future events, including the extent and the duration of the COVID-19 related economic impacts, and their effects cannot be predicted with certainty, and, accordingly the Company’s accounting estimates require the exercise of judgment.</p>
CY2021Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0300
us-gaap Concentration Risk Credit Risk
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentrations of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash, cash equivalents and short-term investments. From time to time, we maintain cash, cash equivalent and short-term investment balances in excess of amounts insured by the Federal Deposit Insurance Corporation (“FDIC”) and the Securities Investor Protection Corporation (“SIPC”).  Primarily all of our cash, cash equivalents and short-term investments at June 30, 2021 were in excess of amounts insured by the FDIC and SIPC.  The Company performs ongoing evaluations of these institutions to limit its concentration risk exposure.  We manage such risks in our portfolio by investing in highly liquid, highly-rated instruments, and limit investing in long-term maturity instruments.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Our investment policy requires that purchased instruments in marketable securities may only be in highly-rated instruments, which are primarily U.S. Treasury bills or treasury-backed securities, and also limits our investment in securities of any single issuer.</p>
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1200000
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1100000
us-gaap Impairment Of Intangible Assets Excluding Goodwill
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0
CY2021Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
cyrx Operating Loss Carryforwards Percent
OperatingLossCarryforwardsPercent
0.80
cyrx Tax Examination Period For Foreign Subsidiaries
TaxExaminationPeriodForForeignSubsidiaries
P3Y
CY2020Q2 cyrx Statutory Credit Usage Limit For Research And Development For Tax Relief
StatutoryCreditUsageLimitForResearchAndDevelopmentForTaxRelief
5000000
CY2021Q1 us-gaap Charity Care Reimbursements Received
CharityCareReimbursementsReceived
1000000
us-gaap Revenue Practical Expedient Initial Application And Transition Nondisclosure Of Transaction Price Allocation To Remaining Performance Obligation
RevenuePracticalExpedientInitialApplicationAndTransitionNondisclosureOfTransactionPriceAllocationToRemainingPerformanceObligation
true
CY2021Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
200000
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
200000
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
500000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
300000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
300000
CY2021Q2 us-gaap Revenues
Revenues
56191000
CY2020Q2 us-gaap Revenues
Revenues
9389000
us-gaap Revenues
Revenues
109475000
us-gaap Revenues
Revenues
19163000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-5389000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-5803000
us-gaap Net Income Loss
NetIncomeLoss
-8916000
us-gaap Net Income Loss
NetIncomeLoss
-9746000
CY2021Q2 cyrx Paid In Kind Dividend On Series C Convertible Preferred Stock Value
PaidInKindDividendOnSeriesCConvertiblePreferredStockValue
2000000
cyrx Paid In Kind Dividend On Series C Convertible Preferred Stock Value
PaidInKindDividendOnSeriesCConvertiblePreferredStockValue
4196000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-7389000
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5803000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13112000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9746000
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
45757532
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
38281087
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Reclassification</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Prior year amounts in sales and marketing expense have been reclassified to selling, general and administrative expense to conform to the current period presentation, which reflects how the Company tracks operating costs. These reclassifications had no effect on the previously reported net loss.</p>
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cyrx Debt Instrument Registration Default Threshold Maximum Combined Interest Rate
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cyrx Lessee Option To Extend
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CY2021Q2 us-gaap Finance Lease Right Of Use Asset
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CY2020Q4 us-gaap Finance Lease Right Of Use Asset
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CY2020Q4 us-gaap Finance Lease Right Of Use Asset
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cyrx Finance Lease Rightofuse Asset Accumulated Depreciation
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100000
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us-gaap Operating Lease Cost
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1997
us-gaap Operating Lease Cost
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us-gaap Finance Lease Interest Expense
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us-gaap Finance Lease Interest Expense
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cyrx Finance Lease Cost
FinanceLeaseCost
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cyrx Finance Lease Cost
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23
us-gaap Lease Cost
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2032
us-gaap Lease Cost
LeaseCost
624
us-gaap Operating Lease Payments
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us-gaap Finance Lease Interest Payment On Liability
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us-gaap Finance Lease Principal Payments
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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5440
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2021Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.053
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
937
CY2021Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
29
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2021Q2 us-gaap Finance Lease Liability Payments Due Year Four
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CY2021Q2 us-gaap Operating Lease Liability
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19600000

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