$CYRX
Cryoport, Inc.

2021 Q4 Form 10-Q Financial Statement

#000110465921134496 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $56.44M $56.69M $11.17M
YoY Change 16.71% 407.46% 16.58%
Cost Of Revenue $33.33M $33.18M $5.117M
YoY Change 17.06% 548.43% 3.24%
Gross Profit $23.11M $23.51M $6.055M
YoY Change 16.18% 288.32% 30.86%
Gross Profit Margin 40.95% 41.47% 54.2%
Selling, General & Admin $27.59M $23.90M $14.48M
YoY Change 5.09% 65.11% -5.62%
% of Gross Profit 119.35% 101.65% 239.08%
Research & Development $3.890M $4.188M $2.312M
YoY Change 11.46% 81.14% 40.93%
% of Gross Profit 16.83% 17.81% 38.18%
Depreciation & Amortization $5.303M $5.157M $830.0K
YoY Change -28.05% 521.33% 5.06%
% of Gross Profit 22.94% 21.93% 13.71%
Operating Expenses $31.48M $28.09M $16.79M
YoY Change 5.84% 67.32% -1.12%
Operating Profit -$8.362M -$4.576M -$10.73M
YoY Change -15.08% -57.36% -13.12%
Interest Expense $509.0K $1.189M $1.889M
YoY Change -259.06% -37.06% 660.44%
% of Operating Profit
Other Income/Expense, Net -$1.354M -$926.0K -$714.0K
YoY Change -7.89% 29.69% -634.84%
Pretax Income -$261.0M -$5.502M -$11.45M
YoY Change 2143.87% -51.94% -8.18%
Income Tax -$876.0K $1.024M -$29.00K
% Of Pretax Income
Net Earnings -$260.1M -$6.526M -$11.42M
YoY Change 2155.73% -42.84% -8.43%
Net Earnings / Revenue -460.82% -11.51% -102.2%
Basic Earnings Per Share -$5.46 -$0.18 -$0.29
Diluted Earnings Per Share -$5.413M -$0.17 -$0.29
COMMON SHARES
Basic Shares Outstanding 46.30M 46.14M 39.14M
Diluted Shares Outstanding 46.14M 39.14M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $628.8M $349.5M $202.9M
YoY Change 573.95% 72.24% 117.01%
Cash & Equivalents $139.1M $43.68M $162.0M
Short-Term Investments $601.0M $305.8M $133.6M
Other Short-Term Assets $8.804M $8.958M $1.400M
YoY Change -26.02% 539.86% 55.56%
Inventory $16.50M $13.48M $476.6K
Prepaid Expenses
Receivables $39.41M $38.46M $7.784M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $693.5M $410.4M $212.6M
YoY Change 371.28% 92.99% 108.07%
LONG-TERM ASSETS
Property, Plant & Equipment $49.03M $42.85M $15.18M
YoY Change 63.23% 182.32% -5.13%
Goodwill $147.0M $146.4M $11.00M
YoY Change 1.15% 1230.65%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $419.0K $158.0K $500.0K
YoY Change -47.23% -68.4% 25.0%
Total Long-Term Assets $419.5M $414.0M $39.72M
YoY Change 3.51% 942.32% 20.73%
TOTAL ASSETS
Total Short-Term Assets $693.5M $410.4M $212.6M
Total Long-Term Assets $419.5M $414.0M $39.72M
Total Assets $1.113B $824.4M $252.4M
YoY Change 101.48% 226.67% 86.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.58M $29.24M $9.700M
YoY Change 15.25% 201.39% 212.9%
Accrued Expenses $13.45M $11.47M $3.200M
YoY Change 38.7% 258.41% 52.38%
Deferred Revenue $547.0K $308.0K $237.0K
YoY Change 22.92% 29.97%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $61.00K $61.00K $100.0K
YoY Change -39.0% -39.0%
Total Short-Term Liabilities $42.65M $41.07M $13.19M
YoY Change 21.77% 211.5% 131.32%
LONG-TERM LIABILITIES
Long-Term Debt $405.3M $116.5M $111.3M
YoY Change 248.2% 4.67% 652.03%
Other Long-Term Liabilities $349.0K $148.0K $7.800M
YoY Change 98.3% -98.1% 81.4%
Total Long-Term Liabilities $349.0K $148.0K $119.1M
YoY Change 98.3% -99.88% 523.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.65M $41.07M $13.19M
Total Long-Term Liabilities $349.0K $148.0K $119.1M
Total Liabilities $471.1M $177.2M $132.3M
YoY Change 177.62% 33.88% 435.74%
SHAREHOLDERS EQUITY
Retained Earnings -$467.5M -$207.5M -$180.5M
YoY Change 143.49% 14.94%
Common Stock $1.100B $846.2M $300.3M
YoY Change 94.24% 181.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $641.8M $647.2M $120.0M
YoY Change
Total Liabilities & Shareholders Equity $1.113B $824.4M $252.4M
YoY Change 101.48% 226.67% 86.8%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$260.1M -$6.526M -$11.42M
YoY Change 2155.73% -42.84% -8.43%
Depreciation, Depletion And Amortization $5.303M $5.157M $830.0K
YoY Change -28.05% 521.33% 5.06%
Cash From Operating Activities $2.614M $8.876M -$4.840M
YoY Change -126.89% -283.39% 497.53%
INVESTING ACTIVITIES
Capital Expenditures -$8.544M -$9.200M -$2.620M
YoY Change 92.87% 251.15% 61.73%
Acquisitions
YoY Change
Other Investing Activities -$187.4M -$17.81M $123.0M
YoY Change -50.5% -114.48% -450.98%
Cash From Investing Activities -$196.0M -$27.01M $120.3M
YoY Change -48.84% -122.44% -428.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 288.6M 2.491M 2.150M
YoY Change 8.3% 15.86% 52.48%
NET CHANGE
Cash From Operating Activities 2.614M 8.876M -4.840M
Cash From Investing Activities -196.0M -27.01M 120.3M
Cash From Financing Activities 288.6M 2.491M 2.150M
Net Change In Cash 95.22M -15.64M 117.7M
YoY Change -175.37% -113.29% -426.35%
FREE CASH FLOW
Cash From Operating Activities $2.614M $8.876M -$4.840M
Capital Expenditures -$8.544M -$9.200M -$2.620M
Free Cash Flow $11.16M $18.08M -$2.220M
YoY Change -310.93% -914.23% -374.07%

Facts In Submission

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CY2021Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
384000
CY2020Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
105000
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
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us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
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CY2021Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
31000
CY2020Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
19000
CY2021Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-512000
CY2020Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
24000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-3666000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
252000
CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-7453000
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-20645000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-20912000
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
126657000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
20000
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-927000
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-53000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-5203000
CY2020Q3 us-gaap Profit Loss
ProfitLoss
-11418000
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-53000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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2412
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
252000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6293000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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cyrx Stock Issued During Period Value Stock Options And Warrants Exercised
StockIssuedDuringPeriodValueStockOptionsAndWarrantsExercised
8312000
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Profit Loss
ProfitLoss
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2020Q3 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2020Q3 cyrx Stock Issued During Period Value Stock Options And Warrants Exercised
StockIssuedDuringPeriodValueStockOptionsAndWarrantsExercised
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CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
120036000
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2021Q3 us-gaap Profit Loss
ProfitLoss
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CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4148000
CY2021Q3 cyrx Stock Issued During Period Value Stock Options And Warrants Exercised
StockIssuedDuringPeriodValueStockOptionsAndWarrantsExercised
2502000
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Profit Loss
ProfitLoss
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11152000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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cyrx Adjustments To Additional Paid In Capital Conversion Costs
AdjustmentsToAdditionalPaidInCapitalConversionCosts
-1800000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
269825000
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0
cyrx Stock Issued During Period Value Stock Options And Warrants Exercised
StockIssuedDuringPeriodValueStockOptionsAndWarrantsExercised
5985000
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
647226000
us-gaap Net Income Loss
NetIncomeLoss
-15442000
us-gaap Net Income Loss
NetIncomeLoss
-21164000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
14944000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2499000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
736000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
248000
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-308000
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
438000
cyrx Realized Loss On Investments In Equity Securities
RealizedLossOnInvestmentsInEquitySecurities
805000
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
-77000
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
10000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11163000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6355000
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
-125000
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
-214000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
263000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
64000
us-gaap Increase Decrease In Long Term Receivables Current
IncreaseDecreaseInLongTermReceivablesCurrent
6564000
us-gaap Increase Decrease In Long Term Receivables Current
IncreaseDecreaseInLongTermReceivablesCurrent
749000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2980000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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-2722000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-151000
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-210000
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
99000
cyrx Right Of Use Asset Obtained In Exchange For Operating Leases Liability
RightOfUseAssetObtainedInExchangeForOperatingLeasesLiability
-303000
cyrx Right Of Use Asset Obtained In Exchange For Operating Leases Liability
RightOfUseAssetObtainedInExchangeForOperatingLeasesLiability
-61000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2334000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
6365000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
1245000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
651000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-137000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-131000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
873000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
27000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5512000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5154000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
15556000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5119000
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
757000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
292280000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
136293000
us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
41000000
us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
142276000
cyrx Mve Net Working Capital Settlement
MveNetWorkingCapitalSettlement
500000
us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
5040000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
150000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
116000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-273283000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
748000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
5986000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
8312000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
269825000
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
115000000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
4118000
cyrx Repayment Of Finance Lease Liabilities
RepaymentOfFinanceLeaseLiabilities
44000
cyrx Repayment Of Finance Lease Liabilities
RepaymentOfFinanceLeaseLiabilities
52000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
275767000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
119142000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1189000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6807000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
114752000
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
47235000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43680000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
161987000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
765000
cyrx Cost Of Series C Preferred Stock Conversion Included In Additional Paid In Capital And Accounts Payable And Accrued Liabilities
CostOfSeriesCPreferredStockConversionIncludedInAdditionalPaidInCapitalAndAccountsPayableAndAccruedLiabilities
1800000
cyrx Goodwill Adjustment Included In Deferred Tax Liability
GoodwillAdjustmentIncludedInDeferredTaxLiability
930000
cyrx Goodwill Adjustment Included In Fixed Assets
GoodwillAdjustmentIncludedInFixedAssets
70000
cyrx Fair Value Adjustment Of Ctsa Contingent Consideration Included In Goodwill And Contingent Consideration Accrual
FairValueAdjustmentOfCtsaContingentConsiderationIncludedInGoodwillAndContingentConsiderationAccrual
112000
cyrx Note Valuation Adjustment Included In Note Payable And Goodwill
NoteValuationAdjustmentIncludedInNotePayableAndGoodwill
284000
cyrx Non Cash Net Unrealized Gain Loss On Available For Sale Securities
NonCashNetUnrealizedGainLossOnAvailableForSaleSecurities
-1544000
cyrx Non Cash Net Unrealized Gain Loss On Available For Sale Securities
NonCashNetUnrealizedGainLossOnAvailableForSaleSecurities
251000
cyrx Reclassification Of Realized Gain On Available For Sale Debt Securities To Earnings
ReclassificationOfRealizedGainOnAvailableForSaleDebtSecuritiesToEarnings
-10000
cyrx Reclassification Of Realized Gain On Available For Sale Debt Securities To Earnings
ReclassificationOfRealizedGainOnAvailableForSaleDebtSecuritiesToEarnings
19000
cyrx Purchase Of Equipment Through Capital Lease Obligation
PurchaseOfEquipmentThroughCapitalLeaseObligation
205000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1554000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
327000
cyrx Financing Costs Included In Accounts Payable And Accrued Liabilities
FinancingCostsIncludedInAccountsPayableAndAccruedLiabilities
473000
us-gaap Nature Of Operations
NatureOfOperations
<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 the temperature-controlled supply chain for the life sciences industry by providing a unique platform of critical solutions including highly differentiated temperature-controlled supply chain solutions, which include advanced methods, processes, 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;">Cell and gene therapies are a rapidly growing area of biological drug development, with over 1,320 industry-sponsored, global clinical trials underway and nearly 1,200 regenerative medicine and advanced therapy developers, as reported by the Alliance for Regenerative Medicine in its H1 2021 update. These therapeutic approaches have certain supply chain challenges that the Company believes its solutions are best tailored to address.</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 final purchase price for the CRYOPDP acquisition was $56.7 million. In the second quarter of 2021, the Company completed the acquisitions of Critical Transport Solutions Australia (CTSA) in Australia and F-airGate in Belgium to further enhance CRYOPDP’s existing global temperature-controlled supply chain capabilities in the APAC and EMEA regions.</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”). The final purchase price for the MVE acquisition was $318.0 million. 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 Acquisitions.</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>
CY2021Q3 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0300
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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 September 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>
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1200000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1100000
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0
CY2021Q3 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0
CY2021Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q3 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
CY2021Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
200000
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
200000
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
300000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
300000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
300000
CY2021Q3 us-gaap Revenues
Revenues
56693000
CY2020Q3 us-gaap Revenues
Revenues
11172000
us-gaap Revenues
Revenues
166168000
us-gaap Revenues
Revenues
30335000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
us-gaap Net Income Loss
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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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us-gaap Amortization Of Intangible Assets
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DebtInstrumentConvertibleConversionPrice1
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DebtInstrumentRedemptionThresholdConsecutiveTradingDays
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cyrx Debt Instrument Registration Default Additional Interest Rate
DebtInstrumentRegistrationDefaultAdditionalInterestRate
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LongTermDebtTerm
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DebtInstrumentInterestRateEffectivePercentage
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CY2021Q3 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
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InterestExpenseDebtExcludingAmortization
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cyrx Debt Instrument Registration Default Threshold Maximum Combined Interest Rate
DebtInstrumentRegistrationDefaultThresholdMaximumCombinedInterestRate
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cyrx Debt Instrument Registration Default Cash Payment To Each Noteholder Percentage
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cyrx Lessee Option To Extend
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CY2021Q3 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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46
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FinanceLeaseRightOfUseAssetAmortization
30
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
6
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
8
cyrx Finance Lease Cost
FinanceLeaseCost
52
cyrx Finance Lease Cost
FinanceLeaseCost
38
us-gaap Lease Cost
LeaseCost
3214
us-gaap Lease Cost
LeaseCost
1009
us-gaap Operating Lease Payments
OperatingLeasePayments
2862
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6810
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2021Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M18D
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.053
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.053
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
259
CY2021Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
14
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3137
CY2021Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
58
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2739
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
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2213
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
23207
CY2021Q3 us-gaap Finance Lease Liability Payments Due
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CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2021Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
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8
CY2021Q3 us-gaap Operating Lease Liability
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CY2021Q3 us-gaap Finance Lease Liability
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CY2021Q3 us-gaap Preferred Stock Shares Authorized
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CY2020Q4 us-gaap Preferred Stock Shares Authorized
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2500000
CY2021Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.001
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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us-gaap Stock Issued During Period Value Issued For Services
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us-gaap Stock Issued During Period Value Issued For Services
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us-gaap Dividends Paidinkind
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CY2020 us-gaap Dividends Paidinkind
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2500000
CY2020Q4 cyrx Deemed Dividend
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CY2021Q1 cyrx Preferred Stock Convertible Conversion Cost
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us-gaap Debt Conversion Converted Instrument Shares Issued1
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CY2021Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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cyrx Share Based Compensation Arrangement By Share Based Payment Award Options Exercise Price Premium
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisePricePremium
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2021Q3 us-gaap Share Based Compensation
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6355000
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
35700000

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