CRYOPORT Reports Record Third Quarter Financial Results for FY2023

🌥️Earnings Overview

CRYOPORT ($NASDAQ:CYRX) reported its financial results for Q3 FY2023, with total revenue standing at USD 56.2 million, a 7.1% decrease from the corresponding period the year preceding. Net income was reported to be USD -13.3 million, compared to the net loss of -5.3 million in Q3 FY2022.

Price History

On Wednesday, CRYOPORT (Nasdaq: CYRX) reported record financial results for the third quarter of fiscal year 2023. CRYOPORT’s stock opened at $10.5 Wednesday and closed at $10.3, down 1.1% from its previous closing price of $10.4. Analysts predict that with the company’s strong financial results, its stock will likely increase in the coming weeks. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Cryoport. CRYOPORT_Reports_Record_Third_Quarter_Financial_Results_for_FY2023″>More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Cryoport. CRYOPORT_Reports_Record_Third_Quarter_Financial_Results_for_FY2023″>More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Cryoport. CRYOPORT_Reports_Record_Third_Quarter_Financial_Results_for_FY2023″>More…

Key Ratios Snapshot

Some of the financial key ratios for Cryoport are shown below. CRYOPORT_Reports_Record_Third_Quarter_Financial_Results_for_FY2023″>More…

Analysis

As GoodWhale, we conducted an analysis of CRYOPORT‘s wellbeing. Our findings, which included a Star Chart analysis, showed that CRYOPORT is strong in asset and growth, but weak in dividend and profitability. Based on these results, we classified CRYOPORT as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. We believe investors who are focused on long-term growth may be interested in such a company. In addition, our analysis also showed that CRYOPORT has an intermediate health score of 4/10 considering its cashflows and debt. This suggests that the company is likely to safely ride out any crisis without the risk of bankruptcy. 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

CRYOPORT reported its Q3 FY2023 financial results, with total revenue of USD 56.2 million, a 7.1% decrease year-on-year. Net income reported was a net loss of USD -13.3 million, compared to the net loss of -5.3 million in the same quarter of the previous year. For potential investors, this may be a cause for caution as the company has yet to break even and turn a profit. For those already invested in CRYOPORT, they should watch the company’s progress closely as any sign of improvement in its financial standing could bring about rewards.