Imilian
- Shares of Cryoport (NASDAQ:CYRX) sank 24.7% to $19.96 in Friday early trading, as the cold-storage logistics company reported a quarterly miss on both top and bottom line and slashed its FY 2022 revenue guidance.
- The stock was already on a two-day losing streak, and is down 55.2% YTD up to its last closing price.
- The company after hours on Thursday posted Q3 GAAP EPS of -$0.15 which missed estimates by $0.01. Revenue rose 6.7% Y/Y to $60.5M, but missed expectations by $9.47M.
- CYRX CEO Jerrell Shelton in the earnings report attributed the quarterly performance to a combination of macroeconomic pressures, including a negative foreign exchange impact, COVID-19 lockdowns in China and supply chain related issues.
- "During the third quarter, we also saw a shift in cryogenic freezer sales through distributors to smaller, lower cost units as customers became more reserved in regard to capital purchases," Shelton said.
- CYRX slashed its FY 2022 revenue guidance to a range of $232M-$238M, well below the consensus estimate of $251.74M. It had provided a prior outlook of $260M-$265M.