Cryoport (CYRX) Prelim. Q2 Results Miss Consensus
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Cryoport Announces Certain Preliminary Results for Second Quarter & Updates 2023 Revenue Expectations
July 12, 2023 4:05 PM EDTSecond quarter results were impacted by weaker than expected global demand for capital equipment; clinical trial start delays; and slower than expected ramps from certain clientsSecond quarter revenue expected in the range of $56.5 - $57.5 millionFull year 2023 revenue now expected in the range of $233 - $243 millionLong-term outlook robust with cell and gene therapy industry expected to grow at a ten-year CAGR in excess of 22%
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