10-Q Filing

Cryoport, Inc. CIK: 1124524 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001144204-17-024582`
Period End Date	20170331
Filing Date	20170504
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	cyrx-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 34 Cash Flow Statement 54

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.53M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$75.00K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$60.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $60,000 and $75,000, respectively	`AccountsReceivableNetCurrent`	$1.20M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $60,000 and $75,000, respectively	`AccountsReceivableNetCurrent`	$1.47M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$70.96K	USD	Point-in-time
Inventories	`InventoryNet`	$89.50K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.50M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$321.42K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.50M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$286.92K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.39M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.10M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.13M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.65M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$5.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$15.20K	USD	Point-in-time
Deposits	`DepositsAssets`	$363.40K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Deposits	`DepositsAssets`	$363.40K	USD	Point-in-time
Total assets	`Assets`	$8.11M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.60M	shares	Point-in-time
Total assets	`Assets`	$18.90M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.94M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.60M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	23.94M	shares	Point-in-time
Accounts payable and other accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.16M	USD	Point-in-time
Accounts payable and other accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.66M	USD	Point-in-time
Accrued compensation and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$419.03K	USD	Point-in-time
Accrued compensation and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$413.62K	USD	Point-in-time
Related-party notes payable and accrued interest, net of discount of $0 and $6,100, respectively	`NotesPayableRelatedPartiesClassifiedCurrent`	$651.93K	USD	Point-in-time
Related-party notes payable and accrued interest, net of discount of $0 and $6,100, respectively	`NotesPayableRelatedPartiesClassifiedCurrent`	$563.84K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.63M	USD	Point-in-time
Deferred rent liability	`DeferredRentCreditNoncurrent`	$200.26K	USD	Point-in-time
Deferred rent liability	`DeferredRentCreditNoncurrent`	$199.36K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.43M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.83M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 23,937,696 and 17,604,283 issued and outstanding at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$17.60K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 23,937,696 and 17,604,283 issued and outstanding at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$23.94K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$141.37M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$129.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-123.53M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-125.32M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$16.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$5.68M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$18.90M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$8.11M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$1.56M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$2.71M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.46M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$973.74K	USD	1 Quarter
Gross margin	`GrossProfit`	$581.81K	USD	1 Quarter
Gross margin	`GrossProfit`	$1.25M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.81M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.70M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.07M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.25M	USD	1 Quarter
Engineering and development	`ResearchAndDevelopmentExpense`	$144.48K	USD	1 Quarter
Engineering and development	`ResearchAndDevelopmentExpense`	$249.84K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$3.02M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$3.21M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.77M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.62M	USD	1 Quarter
Interest expense	`InterestExpense`	$15.67K	USD	1 Quarter
Interest expense	`InterestExpense`	$81.19K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-4.87K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.78M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.71M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.23K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.79M	USD	1 Quarter
Undeclared cumulative preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	-	USD	1 Quarter
Undeclared cumulative preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$75.46K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.79M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.79M	USD	1 Quarter
Net loss per share attributable to common stockholders - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.26	USD	1 Quarter
Net loss per share attributable to common stockholders - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.60M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.60M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.79M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$131.55K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$72.90K	USD	1 Quarter
Amortization of debt discounts and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$6.13K	USD	1 Quarter
Amortization of debt discounts and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$66.06K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$770.44K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$788.94K	USD	1 Quarter
Loss on disposal of property and equipment	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$-17.24K	USD	1 Quarter
Loss on disposal of property and equipment	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$-131.47K	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$2.50K	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInLongTermReceivablesCurrent`	$406.72K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInLongTermReceivablesCurrent`	$272.37K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$55.20K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-18.54K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-40.24K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$34.50K	USD	1 Quarter
Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-37.32K	USD	1 Quarter
Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$329.51K	USD	1 Quarter
Accrued compensation and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$131.64K	USD	1 Quarter
Accrued compensation and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-5.41K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-1.84K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$6.03K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-829.92K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.97M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$631.08K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$405.26K	USD	1 Quarter
Trademark costs	`PaymentsToAcquireIntangibleAssets`	$10.20K	USD	1 Quarter
Trademark costs	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-641.28K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-405.26K	USD	1 Quarter
Proceeds from the common stock offering, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from the common stock offering, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$11.57M	USD	1 Quarter
Repayment of related-party notes payable	`RepaymentsOfConvertibleDebt`	$92.38K	USD	1 Quarter
Repayment of related-party notes payable	`RepaymentsOfConvertibleDebt`	$80.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-80.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$11.48M	USD	1 Quarter
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-2.45M	USD	1 Quarter
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$10.01M	USD	1 Quarter
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.52M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.25M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.79M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.53M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.52M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.25M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.79M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.53M	USD	Point-in-time
Cumulative undeclared preferred dividends recorded upon conversion of Class A convertible preferred stock and Class B convertible preferred stock into common	`ConversionOfStockAmountConverted1`	-	USD	1 Quarter
Cumulative undeclared preferred dividends recorded upon conversion of Class A convertible preferred stock and Class B convertible preferred stock into common	`ConversionOfStockAmountConverted1`	$1.07M	USD	1 Quarter
Issuance of common stock for accrued board of director compensation	`ProceedsFromIssuanceOfCommonStockAccruedBoardOfDirectorCompensation`	$26.90K	USD	1 Quarter
Issuance of common stock for accrued board of director compensation	`ProceedsFromIssuanceOfCommonStockAccruedBoardOfDirectorCompensation`	-	USD	1 Quarter
Offering costs included in additional paid-in capital and accounts payable and other accrued expenses	`LiabilitiesAssumed1`	-	USD	1 Quarter
Offering costs included in additional paid-in capital and accounts payable and other accrued expenses	`LiabilitiesAssumed1`	$165.99K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.