Cryoport, Inc. (NASDAQ:CYRX) Q1 2024 Earnings Call Transcript

David Saxon: Okay. And so it sounds like $3 million might be the right ballpark [indiscernible].

Robert Stefanovich: [Indiscernible] lower end, but I think for modeling purposes, that’s fine.

David Saxon: Okay, great. All right, thanks so much.

Robert Stefanovich: Thank you, David.

Operator: There are no further questions at this time. Speakers, please proceed with your closing remarks.

Jerrell Shelton: Okay, thank you. Thank you for your questions and our discussions. Our first quarter results echoed a challenging global environment. Through market improvements – through market improvements and our actions, we expect our results will progressively improve during the remainder of the year. And based on the recent momentum we’ve seen with cell and gene therapy approvals, we’re encouraged and feel confident in our full year 2024 revenue guidance. Cryoport is well positioned to capitalize on the growth of the life sciences, and particularly the cell and gene therapy industry, as more therapies receive FDA approval and achieve commercialization, and our services and product initiatives take effect. Even with the current economic and geopolitical climate, the market is expected to expand substantially over the next few years, and Cryoport is built to support its rapid growth.

In summary, while our start in 2024 was softer than we would have liked, we will remain focused on our strategic priorities, continuing to expand our physician and our top accounts, delivering innovation, and differentiated new services and products, and remaining diligent on cost controls and productivity improvements to support increases in margins as we move through 2024. Thank you for joining us today. We appreciate your continued support and interest in our company. We look forward to updating you on our progress again next quarter. We hope you have a good evening. Thank you. Operator?

Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for joining. You may now disconnect.