CYRX - Cryoport stock plunges after Q2 revenue update cuts FY forecast
2023-07-12 16:31:25 ET
- Cryoport ( NASDAQ: CYRX ) said Wednesday it expects revenue to be between $56.5 and $57.5 million for the second quarter of 2023.
- The Seeking Alpha consensus estimate for Q2 revenue is $67.4 million.
- The results reflect weaker than expected global demand for capital equipment, clinical trial start delays, and slower than expected ramps from certain clients, the company said.
- The company's 2023 revenue is now expected to be in the range of $233 to $243 million, compared to its previous guidance range of $270 to $290 million. The consensus estimate is $274.9 million.
- Press Release .
- Shares -28.1% at $13.95 after hours.
For further details see:
Cryoport stock plunges after Q2 revenue update, cuts FY forecast