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Cryoport Reports 92% Revenue Growth for First Quarter of Fiscal 2015
Date:7/31/2014

s in the life sciences community. We are excited to report that our distinct strategic agreements with FedEx and DHL, two of the largest integrators in the world, have allowed us to extend our reach and positioning to address a larger portion of the market. Our unique approach with each partnership remains proactive, as we look to help educate and provide ongoing support to each company's respective sales team for our cryogenic solutions."

"We are empowered by the growing demand within the life science industry to utilize our superior cryogenic logistics solutions to deliver shipments of biologic materials. Our advanced technology ensures the reliable and efficient delivery of biologic materials, on a global scale. Our clients include companies working with biologic materials, including stem cells, cell therapies and cell line manufacturing and research, vaccines and other biologic drug development, IVF, animal health, and many other cell based sciences. In particular, our penetration into the reproductive medicine/in vitro fertilization market has shown exceptional success with a revenue growth rate of 129% year-over-year."

Net revenues were $0.94 million, a 92% increase for the three months ended June 30, 2014, as compared with $0.49 million for the three months ended June 30, 2013.  Contributors to this increase were the ramp up and expansion of logistics services provided to animal health, an increase in revenues from the reproductive medicine/in vitro fertilization market, the increasing number of customers utilizing Cryoport's solutions and an increase in the frequency of shipments compared to the prior year.

Mr. Shelton concluded, "Our team is working hard to continue our drive to profitability. We are encouraged by the life science market's growing acceptance of our solutions. As mentioned in our last earnings release, our SG&A and R&D costs will increase as we continue to scale the business."

Gross margins for the
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SOURCE Cryoport, Inc.
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