$CYRX
Cryoport, Inc.

2017 Q3 Form 10-Q Financial Statement

#000114420417041557 Filed on August 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2016 Q4
Revenue $3.003M $2.917M $2.229M
YoY Change 51.9% 52.09% 52.78%
Cost Of Revenue $1.396M $1.524M $1.290M
YoY Change 18.32% 34.22% 20.56%
Gross Profit $1.606M $1.393M $941.0K
YoY Change 101.51% 78.13% 145.05%
Gross Profit Margin 53.48% 47.75% 42.22%
Selling, General & Admin $3.250M $3.026M $2.840M
YoY Change 18.48% 15.27% 0.16%
% of Gross Profit 202.35% 217.25% 301.81%
Research & Development $344.8K $230.7K $100.0K
YoY Change 60.61% 69.91% -56.1%
% of Gross Profit 21.47% 16.56% 10.63%
Depreciation & Amortization $180.0K $180.0K $100.0K
YoY Change 80.0% 80.0% 25.0%
% of Gross Profit 11.21% 12.92% 10.63%
Operating Expenses $3.595M $3.257M $2.940M
YoY Change 21.54% 17.96% -4.02%
Operating Profit -$1.988M -$1.864M -$2.002M
YoY Change -8.01% -5.81% -25.27%
Interest Expense $0.00 $26.00 -$20.00K
YoY Change -100.0% -99.88% -125.02%
% of Operating Profit
Other Income/Expense, Net $8.456K $3.463K -$2.260M
YoY Change -280.84% 167680.25%
Pretax Income -$1.980M -$1.860M -$4.280M
YoY Change -9.26% -52.69% 55.06%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.980M -$1.860M -$4.284M
YoY Change -9.34% -52.73% 55.19%
Net Earnings / Revenue -65.93% -63.76% -192.19%
Basic Earnings Per Share
Diluted Earnings Per Share -$80.39K -$77.60K -$254.0K
COMMON SHARES
Basic Shares Outstanding 24.67M shares 23.98M shares 17.60M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2017 Q2 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.40M $12.90M $4.500M
YoY Change 492.31% 186.67% -13.46%
Cash & Equivalents $15.40M $12.85M $4.525M
Short-Term Investments
Other Short-Term Assets $300.0K $300.0K $300.0K
YoY Change -50.0% 0.0% 3.82%
Inventory $100.0K $100.0K $89.50K
Prepaid Expenses
Receivables $1.500M $1.300M $1.195M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $17.20M $14.49M $6.096M
YoY Change 304.97% 145.54% -1.77%
LONG-TERM ASSETS
Property, Plant & Equipment $2.100M $2.312M $1.647M
YoY Change 52.93% 65.12% 88.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $400.0K $400.0K $400.0K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $2.500M $2.705M $2.016M
YoY Change 42.63% 50.27% 60.91%
TOTAL ASSETS
Total Short-Term Assets $17.20M $14.49M $6.096M
Total Long-Term Assets $2.500M $2.705M $2.016M
Total Assets $19.70M $17.19M $8.112M
YoY Change 228.33% 123.27% 8.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.100M $1.400M $1.200M
YoY Change -8.33% 0.0% 9.09%
Accrued Expenses $600.0K $600.0K $400.0K
YoY Change 50.0% 50.0% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $700.0K
YoY Change -100.0% -100.0% -30.0%
Total Short-Term Liabilities $1.800M $2.000M $2.231M
YoY Change -21.47% -23.08% -9.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K $200.0K $200.0K
YoY Change
Total Long-Term Liabilities $200.0K $200.0K $200.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.800M $2.000M $2.231M
Total Long-Term Liabilities $200.0K $200.0K $200.0K
Total Liabilities $2.000M $2.200M $2.432M
YoY Change -12.75% -15.38% -1.49%
SHAREHOLDERS EQUITY
Retained Earnings -$127.2M -$123.5M
YoY Change
Common Stock $142.2M $129.2M
YoY Change 13.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.80M $15.03M $5.680M
YoY Change
Total Liabilities & Shareholders Equity $19.70M $17.19M $8.112M
YoY Change 228.33% 123.27% 8.76%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2016 Q4
OPERATING ACTIVITIES
Net Income -$1.980M -$1.860M -$4.284M
YoY Change -9.34% -52.73% 55.19%
Depreciation, Depletion And Amortization $180.0K $180.0K $100.0K
YoY Change 80.0% 80.0% 25.0%
Cash From Operating Activities -$960.0K -$570.0K -$760.0K
YoY Change -37.25% -60.69% -45.71%
INVESTING ACTIVITIES
Capital Expenditures -$230.0K -$410.0K -$390.0K
YoY Change 187.5% -311.5% 5.41%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$230.0K -$410.0K -$390.0K
YoY Change 187.5% 115.79% 5.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.700M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.740M -700.0K 3.120M
YoY Change -1138.89% -120.71% -7900.0%
NET CHANGE
Cash From Operating Activities -960.0K -570.0K -760.0K
Cash From Investing Activities -230.0K -410.0K -390.0K
Cash From Financing Activities 3.740M -700.0K 3.120M
Net Change In Cash 2.550M -1.680M 1.970M
YoY Change -229.44% -196.55% -208.84%
FREE CASH FLOW
Cash From Operating Activities -$960.0K -$570.0K -$760.0K
Capital Expenditures -$230.0K -$410.0K -$390.0K
Free Cash Flow -$730.0K -$160.0K -$370.0K
YoY Change -49.66% -90.27% -64.08%

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us-gaap Nature Of Operations
NatureOfOperations
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt">Note 2.&#160;Nature of the Business</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.38in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Cryoport is the premier provider of cryogenic logistics solutions to the life sciences industry through its purpose-built proprietary packaging, information technology and specialized cold chain logistics expertise. The Company provides leading edge logistics solutions for biologic materials, such as immunotherapies, stem cells, CAR-T cells and reproductive cells for clients worldwide. Leading global companies, such as FedEx, UPS and DHL have each separately selected Cryoport as the preferred cryogenic logistics provider for time- and temperature-sensitive biological material. &#160;Cryoport actively&#160;supports points-of-care, contract research organizations, central laboratories, pharmaceutical and biotechnology companies, contract manufacturers and university researchers.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 27pt; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.38in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The Company is a Nevada corporation and its common stock is traded on the NASDAQ Capital Market exchange under the ticker symbol &#8220;CYRX.&#8221;</font></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><strong><i><font style="FONT-SIZE: 10pt"><i>Use of Estimates</i></font></i></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 24.5pt; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.31in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The preparation of the condensed 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&#8217;s significant estimates include the allowance for doubtful accounts, recoverability of long-lived assets, allowance for inventory obsolescence, deferred taxes and their accompanying valuations, and valuation of equity instruments and conversion features.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1389693 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2553733 shares
CY2017Q3 cyrx Class Of Warrant Or Right Exercisable Term
ClassOfWarrantOrRightExercisableTerm
(i) October 28, 2019 and (ii) the thirtieth (30th) day after the date that the closing price of the Company&#8217;s common stock equals or exceeds $4.50 for ten consecutive trading days.
cyrx Noncash Or Part Noncash Acquisition Reclassification Of Shipper Inventory To Fixed Assets
NoncashOrPartNoncashAcquisitionReclassificationOfShipperInventoryToFixedAssets
0 USD
cyrx Noncash Or Part Noncash Acquisition Reclassification Of Shipper Inventory To Fixed Assets
NoncashOrPartNoncashAcquisitionReclassificationOfShipperInventoryToFixedAssets
38276 USD
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
0 USD
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
200000 USD
cyrx Stock Issued During Period Shares Cashless Exercise Of Warrants
StockIssuedDuringPeriodSharesCashlessExerciseOfWarrants
37989 shares
CY2017Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
90000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
34200 USD

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