CRYOPORT Reports Record-Breaking Earnings for FY2023 Q2
August 11, 2023
🌥️Earnings Overview
On August 9 2023, CRYOPORT ($NASDAQ:CYRX) reported its financial results for the second quarter of fiscal year 2023, which ended on June 30 of the same year. Total revenue for the period was USD 57.0 million, representing an 11.1% decline compared to Q2 of the prior year. Net income was -18.4 million, compared to a net loss of -9.2 million for the same quarter in the previous year.
Market Price
On Wednesday, CRYOPORT Inc. reported record-breaking earnings for the second quarter of FY2023. The company’s stock opened at $13.4 and closed at $13.6, up by 1.6% from the prior closing price of $13.4. This marks the eighth consecutive quarter where the company has reported significant year-over-year growth. CRYOPORT attributed its success to its innovative cryogenic logistics solutions, which enable customers to ship temperature-sensitive pharmaceuticals and biological products with unparalleled reliability and accuracy. The company’s advanced tracking capabilities give customers real-time visibility into their shipments, allowing them to quickly adjust to changing customer demands. The strong financial performance is a further testament to CRYOPORT’s ability to meet the needs of customers worldwide.
Its solutions are being adopted by more and more companies in the industry, as the demand for reliable and cost-effective cold chain solutions continues to grow. The company is also expanding its operations internationally, with new offices in Europe and Asia. This will further strengthen CRYOPORT’s presence in the global market and enable it to better serve its customers around the world. CRYOPORT is set to continue its record-breaking streak in the upcoming quarters, as more and more businesses discover the benefits of its cryogenic logistics solutions. The company is confident that its impressive performance in FY2023 Q2 is only the beginning of a long-term trend of success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cryoport. More…
| Total Revenues | Net Income | Net Margin |
| 240.66 | -46.68 | -18.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cryoport. More…
| Operations | Investing | Financing |
| 3.36 | 33.55 | -4.55 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cryoport. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.03k | 486.39 | 11.95 |
Key Ratios Snapshot
Some of the financial key ratios for Cryoport are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 85.0% | – | -12.5% |
| FCF Margin | ROE | ROA |
| -13.3% | -3.4% | -1.8% |
Analysis
At GoodWhale, we recently conducted an assessment of CRYOPORT’s fundamentals. Our assessment indicates that CRYOPORT is a high risk investment in terms of its financial and business aspects. During our assessment, we detected 3 risk warnings in CRYOPORT’s income sheet, balance sheet, and cashflow statement. To gain insights into the specifics of these risk warnings, sign up with us and check it out. More…
Peers
In the logistics and transportation industry, there is intense competition among companies to provide the most efficient and cost-effective services. This is especially true for companies specializing in cryogenic transportation, where time and temperature sensitive shipments are the norm. In this arena, CryoPort Inc. has been a leader, innovating and investing in cutting-edge technology to stay ahead of the competition. Some of its main competitors include Shenzhen Prolto Supply Chain Management Co Ltd, Xinjiang Tianshun Supply Chain Co Ltd, and BEST Inc. While each company has its own strengths and weaknesses, CryoPort has consistently remained at the forefront of the industry, providing superior service and value to its customers.
– Shenzhen Prolto Supply Chain Management Co Ltd ($SZSE:002769)
Shenzhen Prolto Supply Chain Management Co Ltd has a market cap of 3.23B as of 2022, and a Return on Equity of 2.47%. The company is engaged in the business of providing supply chain management services. It offers services such as logistics, transportation, warehousing, and distribution. The company has a network of over 1,000 warehouses in China.
– Xinjiang Tianshun Supply Chain Co Ltd ($SZSE:002800)
Xinjiang Tianshun Supply Chain Co Ltd is a Chinese company that operates in the logistics and supply chain management industry. The company has a market capitalization of 2.2 billion US dollars as of 2022 and a return on equity of 6.85 percent. Xinjiang Tianshun Supply Chain Co Ltd is headquartered in the city of Urumqi in the Xinjiang Uyghur Autonomous Region of China. The company was founded in the year 2006.
– BEST Inc ($NYSE:BEST)
BEST Inc. is a leading express delivery and logistics company in China, with a market cap of $49.1 million as of 2022. The company has a return on equity of -60.92%. BEST Inc. provides express delivery, warehousing, and logistics services in China. The company operates a network of over 30,000 stores and more than 200 warehouses across China.
Summary
Investors interested in CRYOPORT should note that the company recently reported its earnings results for Q2 2023, with total revenue down 11.1% year-over-year and a net income loss of -18.4 million compared to -9.2 million last year. While the results are not ideal, investors should take into account factors such as changes in the economic environment, competitive landscape and customer demand when assessing the outlook for the business going forward. Furthermore, investors should consider examining CRYOPORT’s financial statements for further insight into the company’s current performance and potential future earnings.
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