Cryoport, Inc. (CYRX): Business Model Canvas [Dec-2025 Updated]

You're digging into how Cryoport, Inc. actually makes money, especially after their big 2025 strategic plays. Honestly, their model is a fascinating blend: they run a high-touch, asset-heavy global supply chain that derisks the transport of sensitive cell and gene therapies, while also selling their own proprietary cryogenic gear. This structure is clearly working, given their Q3 2025 gross margin hit 48.2% and the full-year revenue guidance sits between $170 million and $174 million. This is logistics meets life science, pure and simple. Dive below to see the nine blocks that make up this specialized, high-stakes business machine.

Cryoport, Inc. (CYRX) - Canvas Business Model: Key Partnerships

You're looking at the core relationships that make Cryoport, Inc.'s specialized logistics platform work in late 2025. These aren't just vendor agreements; they are strategic integrations that underpin the company's focus on the high-growth regenerative medicine sector.

Strategic collaboration with DHL Group for global logistics leverage

The relationship with DHL Group is foundational, solidified by DHL's acquisition of CRYOPDP for an enterprise valuation that included cash payments of approximately $195 million to Cryoport, Inc.. This transaction, completed in June 2025, established a strategic partnership designed to leverage DHL's expansive global health logistics infrastructure. DHL Group itself brought significant scale, having reported over EUR 5 billion in global revenue for its Life Sciences and Healthcare business in 2024. The partnership is in its early stages but is expected to significantly enhance Cryoport, Inc.'s positioning in the APAC (Asia Pacific) and EMEA (Europe, Middle East and Africa) regions by utilizing DHL's global scale and capabilities.

Technology partners like Tec4med for integrated condition monitoring

Cryoport, Inc. brought technology integration in-house by acquiring Tec4med Lifescience GmbH in late 2023. This internal partnership bore fruit in Q3 2025 with the unveiling of MVE Biological Solutions' next-generation SC4/2V and SC4/3V vapor shippers. These new products integrate MVE's cryogenic systems with advanced, real-time condition monitoring technology supplied by Tec4med, a Cryoport company. This move strengthens Cryoport, Inc.'s digital supply chain solutions and offers clients enhanced performance and reliability for extended or challenging shipments.

Key relationships with Contract Development and Manufacturing Organizations (CDMOs)

While specific CDMO partnership financial terms aren't public, the scale of Cryoport, Inc.'s support for the ecosystem is a direct measure of these relationships' importance. As of Q3 2025, Cryoport, Inc. was supporting a record total of 745 global clinical trials in regenerative medicine. Furthermore, revenue from the support of commercial cell and gene therapies grew 36% year-over-year in Q3 2025, reaching $8.3 million. This high-growth commercial activity is a direct reflection of deep integration with the manufacturers, which often include CDMOs.

Airlines and specialized freight forwarders for global transport

The collaboration with DHL Group inherently involves leveraging the air capabilities of DHL Express and DHL Global Forwarding to enhance specialized pharma logistics. This access to a vast global network is critical for Cryoport, Inc.'s mission-critical bio-logistics services, which span the Americas, EMEA, and APAC.

Academic and research institutions for early-stage trial support

The pipeline of future commercial therapies is directly tied to the early-stage work supported by Cryoport, Inc. As of June 30, 2025, the company supported 728 global clinical trials in regenerative medicine. Of these, 82 were in Phase 3, and 342 were in Phase 2. This level of trial support demonstrates a pervasive, embedded relationship with the research and academic entities driving the pipeline.

Here's a quick look at the scale of the business these partnerships support as of late 2025:

The operational footprint supporting these partnerships includes significant infrastructure investments:

• Opened a new 55,000 square foot global supply chain center at Charles de Gaulle Airport in Paris in Q3 2025.
• Began onboarding first clients for IntegriCell cryopreservation services in Belgium and Texas.
• Supported 556 trials in the Americas, 124 in EMEA, and 48 in APAC as of June 30, 2025.
• Life Sciences Services revenue accounted for 55% of total revenue from continuing operations in Q3 2025.

Cryoport, Inc. (CYRX) - Canvas Business Model: Key Activities

Managing a global, temperature-controlled supply chain for life sciences involves executing complex logistics to support clinical trials and commercial therapies worldwide.

The scale of this activity is reflected in the company's financial performance and operational footprint as of late 2025.

The company's infrastructure expansion directly supports this activity, with a new global supply chain center opened.

• Opened logistics portion of new Global Supply Chain Center at Charles de Gaulle Airport in Paris.
• Another facility in Santa Ana, California, is expected in the second half of 2026.
• The company is implementing a strategic partnership with DHL Group to enhance positioning in the APAC and EMEA regions.

Manufacturing and selling proprietary cryogenic systems (MVE Biological Solutions) is a core component of the Life Sciences Products segment.

This segment showed stability and product innovation during the period.

Key product activities included:

• Launch of next generation SC 4/2V and SC 4/3V dry vapor shippers.
• Deployment of the highest number of MVE cryogenic dewars to the animal health industry since 2013.
• Life Sciences Products revenue grew 15% year-over-year in Q3 2025.

Operating BioStorage and BioServices facilities globally drives growth within the Life Sciences Services revenue stream.

The BioStorage/BioServices component demonstrated significant year-over-year acceleration.

For Q3 2025, BioStorage/BioServices revenue was $4.8 million, marking a 21% increase year-over-year. For the first half of 2025, this revenue reached $8.8 million. The Life Sciences Services gross margin for Q3 2025 stood at 49.7%.

Research and development for next-generation cryopreservation solutions, such as IntegriCell, is an investment activity supporting future service lines.

The company is actively moving this solution toward commercialization.

• Began onboarding first clients for IntegriCell cryopreservation services in Belgium and Texas.
• The company is continuing to invest in priority growth initiatives.

Regulatory compliance and validation for global biopharma shipments is an underlying activity ensuring service quality and market access.

This is evidenced by specific quality certifications achieved or in progress.

The company is seeing momentum related to ISO 21973 certification. Furthermore, as of Q3 2025, Cryoport, Inc. supported 19 commercial therapies and 745 active clinical trials globally.

Finance: draft 13-week cash view by Friday.

Cryoport, Inc. (CYRX) - Canvas Business Model: Key Resources

You're looking at the core assets that make Cryoport, Inc. a critical player in the specialized life sciences supply chain, especially as advanced therapies scale up. These aren't just assets; they are the barriers to entry for competitors.

The physical assets, particularly the proprietary cryogenic shipping containers and dewars under the MVE Biological Solutions brand, are central. You've seen the next-generation vapor shippers, the SC 4/2V and SC 4/3V models, which were redesigned for enhanced reliability. The SC 4/2V now offers a hold time of up to 19 days, up from 13 days, and the SC 4/3V extends to 26 days, up from 21 days. These leverage MVE's patented BEND DON'T BREAK technology to absorb impact, plus the patent-pending Vapor Shield Technology to minimize nitrogen loss. Also, the MVE High-Efficiency 800°C cryogenic freezer was launched earlier in 2025 to serve high-capacity storage needs.

The physical infrastructure supporting this is expanding rapidly. Cryoport, Inc. opened its newest Global Supply Chain Center (GSCC) in Louvres, France, near Paris Charles de Gaulle Airport in October 2025. This is a 55,000-square-foot facility and the third campus in the GSCC network. It immediately supports logistics, with plans to phase in BioServices and biostorage capabilities. To be fair, this expansion is part of a broader strategy, with another facility planned for Santa Ana, California, in the second half of 2026.

The digital backbone is just as important as the physical containers. The company relies on its advanced informatics platform, which includes the Cryoportal® Logistics Management Platform, to provide real-time shipment monitoring and compliance oversight across its integrated supply chain.

When it comes to intellectual property, the focus is on protecting the technology that enables these long-duration, secure shipments. While I don't have the exact figure of 245 patents and applications for late 2025, we know the proprietary nature of the MVE systems, including the BEND DON'T BREAK™ technology and the Vapor Shield Technology, are key protected assets.

Financially, the balance sheet provides significant operational flexibility. As of the third quarter of 2025, Cryoport, Inc. reported a strong cash position of approximately $421 million in cash and short-term investments. This solid foundation allows for continued investment in growth initiatives.

Here's a quick look at some of the operational metrics supporting the value of these resources as of Q3 2025:

The platform's effectiveness is also reflected in the revenue breakdown:

• Life Sciences Services revenue was 55% of total revenue from continuing operations in Q3 2025.
• BioStorage/BioServices revenue within Services grew 21% year-over-year in Q3 2025.
• Commercial Cell & Gene Therapy revenue grew 36% year-over-year in Q3 2025, reaching $8.3 million.

Finance: draft 13-week cash view by Friday.

Cryoport, Inc. (CYRX) - Canvas Business Model: Value Propositions

End-to-end, validated temperature-controlled supply chain for high-value materials

• Unveiled next-generation vapor shippers, SC 4/2V and SC4/3V, in July 2025, offering enhanced performance and reliability for challenging shipments.
• Ensures end-to-end integrity from the manufacturing site to the point of care.

Derisking the transport of sensitive, living cell and gene therapies

Revenue from the support of commercial cell & gene therapies grew 36% year-over-year in Q3 2025, reaching $8.3 million. As of September 30, 2025, Cryoport, Inc. supported 19 commercial therapies. The company also supports therapies where REMS (Risk Evaluation and Mitigation Strategy) requirements have been eliminated, such as Carvykti®, Yescarta®, Tecartus®, and Breyanzi®.

Supporting a large portfolio of 19 commercial therapies and 745 clinical trials

As of September 30, 2025, Cryoport, Inc. supported a total of 745 global clinical trials, a net increase of 54 clinical trials over September 30, 2024. The support breakdown across phases and regions is detailed below:

Real-time data and condition monitoring for compliance and certainty

• Unveiled integrated condition monitoring solutions for MVE Biological Solutions dewars.
• Incorporates SmartTag and CryoBeacon devices powered by Tec4med.
• Data is centralized in the FDA-compliant MVECloud platform for enhanced monitoring of cryogenic storage.

Integrated BioStorage/BioServices platform for long-term sample integrity

BioStorage/BioServices revenue increased 21% year-over-year in Q3 2025, reaching $4.8 million. For the first nine months of 2025, BioStorage/BioServices revenue was $13.7 million, also up 21% year-over-year. The company is onboarding first clients for its IntegriCell cryopreservation service in Belgium and Texas. The total revenue from continuing operations for Q3 2025 was $44.2 million, with a gross margin of 48.2%.

Cryoport, Inc. (CYRX) - Canvas Business Model: Customer Relationships

The relationship Cryoport, Inc. (CYRX) builds with its clients centers on being the indispensable, pure-play, end-to-end temperature-controlled supply chain platform for life sciences, especially in the high-stakes Cell & Gene Therapy (CGT) space. Trust is cemented by performance; for instance, total gross margin from continuing operations reached 48.2% in Q3 2025, up from 45.5% in Q3 2024. This margin expansion shows operational discipline while supporting complex logistics.

Here's a quick look at the Q3 2025 performance metrics that underpin client confidence:

For complex, patient-specific logistics, you rely on dedicated account management, which is critical when dealing with living therapies. The consultative service aspect is evident in the sheer scale of clinical support; Cryoport, Inc. was supporting 745 global clinical trials as of September 30, 2025. This includes 83 trials in Phase III, which are the most advanced stages before potential commercialization. This deep involvement means the service is inherently high-touch, guiding clients through regulatory and logistical hurdles.

The relationship is designed for longevity, often secured through strategic, long-term contracts that include recurring storage and logistics components. This structure provides near-term revenue visibility. The pipeline conversion potential is a key driver here; historical data suggests a roughly 65% conversion rate from Phase 3 to approval in CGT. With 83 trials in Phase 3 as of Q3 2025, this implies a potential for 50-58 new commercial launches over the next three to five years, with each launch potentially adding $2-5 million in high-margin annualized recurring revenue.

To balance the high-touch service, Cryoport, Inc. deploys automated, self-service tools. This is visible in the integration of advanced, real-time condition monitoring technology, such as the SmartTag or CryoBeacon, built directly into their MVE Biological Solutions shippers. Furthermore, the platform is underpinned by the Cryoportal® Logistics Management Platform, which provides informatics and visibility across the entire supply chain, helping clients manage orders and track shipments digitally. The strategic partnership with DHL, finalized in June 2025, also enhances the relationship by extending global reach, particularly in the EMEA and APAC regions, through integrated services.

• Support for 19 commercial cell and gene therapies as of Q3 2025.
• BioStorage/BioServices revenue grew 21% year-over-year in Q3 2025.
• Life Sciences Services revenue accounted for 55% of total revenue from continuing operations in Q3 2025, at $24.3 million.
• The company is introducing cryopreservation services via IntegriCell in Houston, Texas, and Liege, Belgium, to standardize starting materials for clients.

Finance: review the impact of the DHL partnership on EMEA/APAC revenue contribution by Q4 2025 close.

Cryoport, Inc. (CYRX) - Canvas Business Model: Channels

Direct sales team focused on biopharma and regenerative medicine companies

• Total employees across the organization as of October 31, 2025: 1,186.
• Commercial Cell & Gene Therapy revenue reached $8.3 million in Q3 2025.
• Commercial Cell & Gene Therapy revenue grew 36% year-over-year in Q3 2025.
• As of September 30, 2025, Cryoport, Inc. supported nineteen (19) commercial therapies.
• As of June 30, 2025, Cryoport, Inc. supported 728 global clinical trials.

Global network of owned and partnered logistics hubs (e.g., Paris, Tokyo)

• Opened a new 55,000-Square-Foot global supply chain center at Charles de Gaulle Airport in Paris.
• A facility in Santa Ana, California is expected in the second half of 2026.
• Launched a strategic partnership agreement with the DHL Group on June 11, 2025.
• Geographically, the company operates in the Americas, Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC).

E-commerce and direct ordering for Life Sciences Products (MVE)

• Life Sciences Products revenue was $20.0 million in Q3 2025.
• Life Sciences Products revenue represented 45% of total revenue from continuing operations in Q3 2025.
• Life Sciences Products revenue grew 15% year-over-year in Q3 2025.
• MVE Biological Solutions introduced next-generation SC4/2V and SC4/3V vapor shippers in Q2 2025.

BioStorage facilities for direct sample intake and retrieval

• BioStorage/BioServices revenue was $4.8 million in Q3 2025.
• BioStorage/BioServices revenue increased 21% year-over-year in Q3 2025.
• BioStorage/BioServices revenue was $8.8 million for the first nine months (9M) of 2025.
• Began onboarding first clients for IntegriCell cryopreservation services in Belgium and Texas.

Here's the quick math on revenue contribution by service type for Q3 2025:

The full-year 2025 revenue guidance is set between $170.0 million and $174.0 million from continuing operations.

Cryoport, Inc. (CYRX) - Canvas Business Model: Customer Segments

You're looking at the core clientele Cryoport, Inc. (CYRX) serves as of late 2025. Honestly, the business model is laser-focused on the high-growth, high-stakes world of advanced therapies. The customer base isn't a broad mix; it's a targeted group that needs mission-critical, temperature-controlled logistics.

Cell and Gene Therapy (CGT) developers (fastest growing segment)

This is where the action is. The support for commercial cell and gene therapy was the clear standout performer in the third quarter of 2025. Revenue specifically from this support grew a massive 36% year-over-year, hitting $8.3 million for the quarter ending September 30, 2025. This segment is the engine, fueled by the global adaptation of these life-saving treatments. As of the third quarter of 2025, Cryoport, Inc. was supporting 19 commercial therapies globally. Furthermore, the company was actively involved in 745 global clinical trials, with approximately 70% of those being in Phase III, showing deep engagement with near-commercial and established pipelines. Commercial revenue, which is heavily weighted by CGT, represented about 18% to 19% of total revenue from continuing operations in Q3 2025.

Large Biopharma and Pharmaceutical companies

These giants represent the bulk of the Life Sciences Services revenue stream, which is the company's largest revenue component. Life Sciences Services revenue increased 16% year-over-year in Q3 2025, reaching $24.3 million. This service revenue accounted for 55% of the total revenue from continuing operations for that quarter. These customers rely on Cryoport, Inc.'s integrated platform for their complex biologics needs, from storage to final delivery.

Contract Research Organizations (CROs) and CDMOs

CROs and CDMOs are key users of the BioStorage and BioServices offerings, which fall under the Life Sciences Services umbrella. This specific sub-segment showed excellent momentum, with BioStorage/BioServices revenue rising 21% year-over-year in Q3 2025. For the third quarter of 2025, BioStorage/BioServices revenue specifically amounted to $4.8 million. These organizations need reliable, compliant storage and handling for materials during outsourced development and manufacturing phases.

Animal Health and Reproductive Medicine markets

While not the primary focus, this market is a clear driver for the Life Sciences Products segment. Earlier in 2025, the Life Sciences Products revenue growth was explicitly noted as being driven by stronger demand, particularly from animal health customers. The company's stated capabilities include supporting the shipment and storage of human and animal reproductive materials. Specific Q3 2025 revenue figures segmented for Animal Health aren't broken out, but the overall Life Sciences Products segment grew 15% year-over-year in Q3 2025, contributing $20.0 million to the top line.

Academic and government research institutions

These institutions are significant consumers of the cryogenic systems and accessories manufactured by Cryoport, Inc., which fall into the Life Sciences Products category. This segment represented 45% of total revenue from continuing operations in Q3 2025. The segment's revenue for Q3 2025 was $20.0 million, marking a 15% year-over-year increase. These customers require reliable, market-leading cryogenic systems for their research and storage needs.

Here's a quick look at the financial contribution of the major service/product groupings that serve these customer segments as of the third quarter of 2025:

The overall full-year 2025 revenue guidance for Cryoport, Inc. from continuing operations was updated to a range of $170 million to $174 million. Finance: draft 13-week cash view by Friday.

Cryoport, Inc. (CYRX) - Canvas Business Model: Cost Structure

You're looking at the hard numbers behind Cryoport, Inc.'s operational engine as of late 2025. This is where the money goes to keep that global, temperature-controlled supply chain running, especially with the focus on high-value life sciences logistics.

High fixed costs from operating global supply chain centers and storage facilities are evident in the ongoing infrastructure build-out. For instance, Cryoport, Inc. opened a new 55,000 square foot global supply chain center at Charles de Gaulle Airport in Paris during the third quarter of 2025. This expansion represents a commitment to fixed asset base growth, necessary for supporting global scale.

Significant investment in R&D and capital expenditures for new facilities has been a balancing act. While the company deferred capital expenditures and reprioritized engineering and other R&D projects during 2024 to manage costs, the 2025 facility opening shows continued investment in physical infrastructure. The general operating costs reflect these overheads.

Costs of goods sold for Life Sciences Products (MVE manufacturing) are best reflected by the segment's gross margin performance. The Life Sciences Products segment achieved a gross margin of 46.4% in the third quarter of 2025. For the first nine months of 2025, the gross margin for this segment was 44.6%. This segment generated $20.0 million in revenue for Q3 2025.

Personnel costs for specialized logistics and scientific staff are embedded within the overall operating expenses. The company has been actively managing these costs, as evidenced by cost reduction initiatives implemented in 2024, which included reductions in headcount and external contractors. The total operating costs and expenses from continuing operations for the third quarter of 2025 were $31.3 million.

Freight and transportation costs for global shipments are a major variable cost component, though specific line items aren't broken out. Management noted that supply chain diversification and the use of surcharges have mitigated potential impacts from global tariff changes. The company is working towards long-term EBITDA margin targets of 30%.

Here's a quick look at the top-line cost and margin metrics for the nine months ended September 30, 2025:

The overall cost structure is being managed with an eye toward profitability, as shown by the improvement in adjusted EBITDA. Cash flow from operating activities was $2.2 million positive for the third quarter of 2025. The company's long-term target for EBITDA margin is 30%.

• Q3 2025 Total Revenue from Continuing Operations: $44.2 million
• Q3 2025 Life Sciences Services Revenue: $24.3 million
• Q3 2025 Life Sciences Products Revenue: $20.0 million
• Q3 2025 Commercial Cell & Gene Therapy Revenue: $8.3 million
• Total Global Clinical Trials Supported (as of June 30, 2025): 728

Cryoport, Inc. (CYRX) - Canvas Business Model: Revenue Streams

You're looking at how Cryoport, Inc. (CYRX) is bringing in money as of late 2025. It's all about specialized, temperature-controlled logistics for the life sciences sector, and the numbers show a clear split between services and products.

The total annual revenue guidance for 2025 is set between $170 million and $174 million from continuing operations. This reflects management's confidence despite the macro environment.

The revenue streams are clearly segmented, with a strong leaning toward the service side of the business as of the third quarter of 2025. Here's how the Q3 2025 revenue of $44.2 million broke down by segment:

The Life Sciences Services revenue stream is the larger component, showing strong demand for integrated support. This segment includes fees for long-term sample management, specifically the BioStorage and BioServices component.

• Life Sciences Services revenue, representing 55% of Q3 2025 total revenue.
• Revenue from support of commercial Cell & Gene Therapy grew 36% year-over-year to $8.3 million in Q3 2025.
• BioStorage and BioServices fees for long-term sample management revenue increased 21% year-over-year to $4.8 million in Q3 2025.

On the product side, the MVE systems are holding steady, showing growth that management noted as encouraging stability. The Life Sciences Products revenue for the quarter was $20.0 million, making up the remaining 45% of total revenue.

• Life Sciences Products revenue (MVE systems), representing 45% of Q3 2025 total revenue.

Honestly, the growth in commercial cell and gene therapy support is the key indicator here; that 36% jump to $8.3 million shows the market is adopting these therapies and relying on Cryoport, Inc. to manage the complex logistics. Finance: draft 13-week cash view by Friday.