CYRX - Cryoport stock advances nearly 9% on strong FY 2023 revenue guidance
- Shares of Cryoport ( NASDAQ: CYRX ) on Friday gained 8.8% to $22.41 after the company provided FY 2023 revenue guidance above estimates.
- CYRX stock was already on a two-day win streak.
- The company after hours on Thursday reported Q4 GAAP EPS of -$0.24 which missed expectations by five cents . Revenue increased 7% Y/Y to $60.36M which beat consensus by $2.1M .
- Nashville, Tenn.-based CYRX provides temperature-controlled supply chain solutions for the life sciences industry.
- CYRX CEO Jerrell Shelton in the earnings release said that the revenue increase was helped by strong demand and growth in the cell and therapy market.
- Shelton on the earnings conference call also highlighted that the introduction of new cell and gene therapies into the market "has set the stage for greater activity levels in 2023."
- The company also said it sees FY 2023 revenue of $270M to $290M, above the consensus estimate of $269.32M.
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Cryoport stock advances nearly 9% on strong FY 2023 revenue guidance