$CYRX
Cryoport, Inc.

2018 Q3 Form 10-Q Financial Statement

#000114420418043294 Filed on August 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q2
Revenue $5.285M $4.627M $2.917M
YoY Change 75.99% 58.62% 52.09%
Cost Of Revenue $2.549M $2.123M $1.524M
YoY Change 82.6% 39.31% 34.22%
Gross Profit $2.736M $2.504M $1.393M
YoY Change 70.36% 79.76% 78.13%
Gross Profit Margin 51.77% 54.12% 47.75%
Selling, General & Admin $4.434M $4.520M $3.026M
YoY Change 36.44% 49.36% 15.27%
% of Gross Profit 162.06% 180.52% 217.25%
Research & Development $463.4K $448.6K $230.7K
YoY Change 34.39% 94.42% 69.91%
% of Gross Profit 16.94% 17.91% 16.56%
Depreciation & Amortization $210.0K $190.0K $180.0K
YoY Change 16.67% 5.56% 80.0%
% of Gross Profit 7.68% 7.59% 12.92%
Operating Expenses $4.897M $4.969M $3.257M
YoY Change 36.24% 52.56% 17.96%
Operating Profit -$2.161M -$2.465M -$1.864M
YoY Change 8.7% 32.24% -5.81%
Interest Expense $0.00 $0.00 $26.00
YoY Change -100.0% -99.88%
% of Operating Profit
Other Income/Expense, Net $19.68K $7.120K $3.463K
YoY Change 132.68% 105.6% -280.84%
Pretax Income -$2.142M -$2.458M -$1.860M
YoY Change 8.18% 32.12% -52.69%
Income Tax $2.102K $12.83K $0.00
% Of Pretax Income
Net Earnings -$2.144M -$2.471M -$1.860M
YoY Change 8.28% 32.85% -52.73%
Net Earnings / Revenue -40.57% -53.4% -63.76%
Basic Earnings Per Share
Diluted Earnings Per Share -$74.38K -$88.82K -$77.60K
COMMON SHARES
Basic Shares Outstanding 28.57M shares 23.98M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.70M $20.00M $12.90M
YoY Change 53.9% 55.04% 186.67%
Cash & Equivalents $13.85M $20.01M $12.85M
Short-Term Investments $10.00M
Other Short-Term Assets $900.0K $500.0K $300.0K
YoY Change 200.0% 66.67% 0.0%
Inventory $130.3K $97.29K $100.0K
Prepaid Expenses
Receivables $3.197M $3.619M $1.300M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $27.94M $24.23M $14.49M
YoY Change 62.47% 67.26% 145.54%
LONG-TERM ASSETS
Property, Plant & Equipment $3.578M $3.039M $2.312M
YoY Change 70.4% 31.45% 65.12%
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 $4.055M $3.508M $2.705M
YoY Change 62.21% 29.71% 50.27%
TOTAL ASSETS
Total Short-Term Assets $27.94M $24.23M $14.49M
Total Long-Term Assets $4.055M $3.508M $2.705M
Total Assets $32.00M $27.74M $17.19M
YoY Change 62.43% 61.35% 123.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.900M $2.200M $1.400M
YoY Change 72.73% 57.14% 0.0%
Accrued Expenses $900.0K $900.0K $600.0K
YoY Change 50.0% 50.0% 50.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $2.785M $3.133M $2.000M
YoY Change 54.74% 56.65% -23.08%
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 0.0% 0.0%
Total Long-Term Liabilities $200.0K $200.0K $200.0K
YoY Change 0.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.785M $3.133M $2.000M
Total Long-Term Liabilities $200.0K $200.0K $200.0K
Total Liabilities $2.965M $3.317M $2.200M
YoY Change 48.25% 50.75% -15.38%
SHAREHOLDERS EQUITY
Retained Earnings -$138.7M -$136.6M -$127.2M
YoY Change 7.39%
Common Stock $167.8M $161.0M $142.2M
YoY Change 13.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $29.03M $24.42M $15.03M
YoY Change
Total Liabilities & Shareholders Equity $32.00M $27.74M $17.19M
YoY Change 62.43% 61.35% 123.27%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$2.144M -$2.471M -$1.860M
YoY Change 8.28% 32.85% -52.73%
Depreciation, Depletion And Amortization $210.0K $190.0K $180.0K
YoY Change 16.67% 5.56% 80.0%
Cash From Operating Activities -$660.0K -$1.270M -$570.0K
YoY Change -31.25% 122.81% -60.69%
INVESTING ACTIVITIES
Capital Expenditures -$870.0K -$720.0K -$410.0K
YoY Change 278.26% 75.61% -311.5%
Acquisitions
YoY Change
Other Investing Activities -$9.920M
YoY Change
Cash From Investing Activities -$10.78M -$720.0K -$410.0K
YoY Change 4586.96% 75.61% 115.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.310M 2.990M -700.0K
YoY Change 41.98% -527.14% -120.71%
NET CHANGE
Cash From Operating Activities -660.0K -1.270M -570.0K
Cash From Investing Activities -10.78M -720.0K -410.0K
Cash From Financing Activities 5.310M 2.990M -700.0K
Net Change In Cash -6.130M 1.000M -1.680M
YoY Change -340.39% -159.52% -196.55%
FREE CASH FLOW
Cash From Operating Activities -$660.0K -$1.270M -$570.0K
Capital Expenditures -$870.0K -$720.0K -$410.0K
Free Cash Flow $210.0K -$550.0K -$160.0K
YoY Change -128.77% 243.75% -90.27%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 0;text-align: justify;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Note 2.&#160;Nature of the Business</div></div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.38in;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">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.</div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.38in;">&#160;</div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.38in;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">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;</div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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<div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 0;text-align: justify;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;"><div style="font-weight:bold;display:inline;">Concentrations of Credit Risk</div></div></div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.34in;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company maintains its cash accounts in financial institutions. Accounts at these institutions are insured by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) with basic deposit insurance coverage limits up to $250,000 per owner. At June 30, 2018, the Company had cash balances of approximately $19.8 million which exceeded the FDIC insurance limit. The Company performs ongoing evaluations of these institutions to limit its concentration risk exposure.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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us-gaap Increase Decrease In Long Term Receivables Current
IncreaseDecreaseInLongTermReceivablesCurrent
56888 USD
CY2018Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
19106 USD
CY2017Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
26654 USD
CY2018Q2 us-gaap Liabilities Current
LiabilitiesCurrent
3132980 USD
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
2185143 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-17506 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-16878 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-25369 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
22010 USD
CY2018Q2 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
183557 USD
CY2017Q4 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
192202 USD
CY2018Q2 us-gaap Liabilities
Liabilities
3316537 USD
CY2017Q4 us-gaap Liabilities
Liabilities
2377345 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
961787 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
205633 USD
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-22595 USD
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
179291 USD
CY2018Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2017Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
0 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-1843 USD
CY2018Q2 us-gaap Common Stock Value
CommonStockValue
28451 USD
CY2017Q4 us-gaap Common Stock Value
CommonStockValue
25702 USD
CY2018Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
160979798 USD
CY2017Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
149293947 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
969083 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1022321 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
27172 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
24728 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-136586533 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-131432883 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
24421716 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
17886766 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-996255 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1047049 USD
CY2018Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
27738253 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
20264111 USD
cyrx Maturity Period Of Highly Liquid Investments
MaturityPeriodOfHighlyLiquidInvestments
P90D
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11405924 USD
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
4641807 USD
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
0 USD
CY2018Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 USD
CY2018Q2 us-gaap Cash
Cash
19800000 USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
3652144 USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
25438 USD
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0 USD
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
656221 USD
CY2018Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8293951 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
10775141 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
4968948 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
8329997 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4524529 USD
CY2017Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12854526 USD
CY2018Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
99400 USD
CY2018Q1 cyrx Class Of Warrant Or Right Number Of Warrants Exercised
ClassOfWarrantOrRightNumberOfWarrantsExercised
1580388 shares
CY2018Q1 cyrx Class Of Warrant Or Right Exercisable Terms
ClassOfWarrantOrRightExercisableTerms
The terms of the New Warrants included (i) an exercise price of $3.00 per share and (ii) an exercise period that expired concurrently with the expiration of the Offer at 5:00 p.m. (Eastern Time) on February 2, 2018 (the &#8220;Expiration Date&#8221;). In addition, the shares issuable upon exercise of the New Warrants (the &#8220;New Warrant Shares&#8221;) were subject to a 60-day lock-up period.
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2328748 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1398095 USD
cyrx Warrants Exercised Intrinsic Value
WarrantsExercisedIntrinsicValue
17500000 USD

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