10-Q Filing

Cryoport, Inc. CIK: 1124524 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001144204-17-055868`
Period End Date	20170930
Filing Date	20171102
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	cyrx-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 72 Cash Flow Statement 70

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.56M	USD	Point-in-time
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`	$15.40M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$75.00K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$70.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $70,000 and $75,000, respectively	`AccountsReceivableNetCurrent`	$1.46M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $70,000 and $75,000, respectively	`AccountsReceivableNetCurrent`	$1.20M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$89.50K	USD	Point-in-time
Inventories	`InventoryNet`	$90.25K	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$264.34K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.50M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$6.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.22M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.65M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.08M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$5.00K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$56.53K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Deposits	`DepositsAssets`	$363.40K	USD	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`	$19.72M	USD	Point-in-time
Total assets	`Assets`	$8.11M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	25.22M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.60M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.60M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.22M	shares	Point-in-time
Accounts payable and other accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.14M	USD	Point-in-time
Accounts payable and other accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.16M	USD	Point-in-time
Accrued compensation and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$419.03K	USD	Point-in-time
Accrued compensation and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$628.79K	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`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.77M	USD	Point-in-time
Deferred rent liability	`DeferredRentCreditNoncurrent`	$200.26K	USD	Point-in-time
Deferred rent liability	`DeferredRentCreditNoncurrent`	$194.59K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.43M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.97M	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; 25,217,535 and 17,604,283 issued and outstanding at September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$25.22K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 25,217,535 and 17,604,283 issued and outstanding at September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$17.60K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$146.89M	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`	$-129.16M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$17.75M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$5.68M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$19.72M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$8.11M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$1.98M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$3.00M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$5.45M	USD	3 Qtrs
Revenues	`SalesRevenueNet`	$8.63M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$1.40M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$3.29M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$1.18M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$4.38M	USD	3 Qtrs
Gross margin	`GrossProfit`	$796.84K	USD	1 Quarter
Gross margin	`GrossProfit`	$4.25M	USD	3 Qtrs
Gross margin	`GrossProfit`	$2.16M	USD	3 Qtrs
Gross margin	`GrossProfit`	$1.61M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.39M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.75M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.90M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.51M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.68M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$1.35M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.24M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.66M	USD	3 Qtrs
Engineering and development	`ResearchAndDevelopmentExpense`	$494.96K	USD	3 Qtrs
Engineering and development	`ResearchAndDevelopmentExpense`	$825.38K	USD	3 Qtrs
Engineering and development	`ResearchAndDevelopmentExpense`	$214.68K	USD	1 Quarter
Engineering and development	`ResearchAndDevelopmentExpense`	$344.80K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$2.96M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$8.92M	USD	3 Qtrs
Total operating costs and expenses	`OperatingExpenses`	$9.87M	USD	3 Qtrs
Total operating costs and expenses	`OperatingExpenses`	$3.59M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.16M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.76M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-5.62M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.99M	USD	1 Quarter
Interest expense	`InterestExpense`	$19.30K	USD	1 Quarter
Interest expense	`InterestExpense`	$15.69K	USD	3 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$121.74K	USD	3 Qtrs
Warrant repricing expense	`FairValueAdjustmentOfWarrants`	$1.93M	USD	3 Qtrs
Warrant repricing expense	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Warrant repricing expense	`FairValueAdjustmentOfWarrants`	-	USD	3 Qtrs
Warrant repricing expense	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$8.46K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-1.45K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-8.24K	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$11.92K	USD	3 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.18M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-8.82M	USD	3 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.63M	USD	3 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.98M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.23K	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.36K	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.88K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.83M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.98M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.18M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.63M	USD	3 Qtrs
Undeclared cumulative preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$75.46K	USD	3 Qtrs
Undeclared cumulative preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	-	USD	1 Quarter
Undeclared cumulative preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	-	USD	1 Quarter
Undeclared cumulative preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	-	USD	3 Qtrs
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.63M	USD	3 Qtrs
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.18M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.98M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-8.90M	USD	3 Qtrs
Net loss per share attributable to common stockholders - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.25	USD	3 Qtrs
Net loss per share attributable to common stockholders - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.67	USD	3 Qtrs
Net loss per share attributable to common stockholders - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.14	USD	1 Quarter
Net loss per share attributable to common stockholders - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.34M	shares	3 Qtrs
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	24.63M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.12M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.09M	shares	3 Qtrs

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.83M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.98M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.18M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.63M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$271.52K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$491.98K	USD	3 Qtrs
Amortization of debt discounts and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$78.52K	USD	3 Qtrs
Amortization of debt discounts and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$6.13K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$2.34M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$2.53M	USD	3 Qtrs
Warrant repricing expense	`FairValueAdjustmentOfWarrants`	$1.93M	USD	3 Qtrs
Warrant repricing expense	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Warrant repricing expense	`FairValueAdjustmentOfWarrants`	-	USD	3 Qtrs
Warrant repricing expense	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Loss on disposal of property and equipment	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$-147.84K	USD	3 Qtrs
Loss on disposal of property and equipment	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$-76.22K	USD	3 Qtrs
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$2.50K	USD	3 Qtrs
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$11.64K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInLongTermReceivablesCurrent`	$280.29K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInLongTermReceivablesCurrent`	$385.94K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$755.00	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$67.59K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$317.86K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-22.58K	USD	3 Qtrs
Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$200.95K	USD	3 Qtrs
Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-124.91K	USD	3 Qtrs
Accrued compensation and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-8.88K	USD	3 Qtrs
Accrued compensation and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$209.76K	USD	3 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$13.04K	USD	3 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-1.84K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.95M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.36M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.23M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$666.46K	USD	3 Qtrs
Trademark costs	`PaymentsToAcquireIntangibleAssets`	$51.53K	USD	3 Qtrs
Trademark costs	`PaymentsToAcquireIntangibleAssets`	$5.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-671.46K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.28M	USD	3 Qtrs
Proceeds from the common stock offering, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Proceeds from the common stock offering, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$11.41M	USD	3 Qtrs
Proceeds from April 2016 tender offer, net of offering costs	`ProceedsFromIssuanceOfWarrants`	$2.24M	USD	3 Qtrs
Proceeds from April 2016 tender offer, net of offering costs	`ProceedsFromIssuanceOfWarrants`	-	USD	3 Qtrs
Proceeds from the rights offering, net of offering costs	`ProceedsFromRightsOfferingNetOfOfferingCost`	$-998.16K	USD	3 Qtrs
Proceeds from the rights offering, net of offering costs	`ProceedsFromRightsOfferingNetOfOfferingCost`	-	USD	3 Qtrs
Proceeds from exercise of stock options and warrants, net of costs	`ProceedsFromWarrantExercises`	$3.77M	USD	3 Qtrs
Proceeds from exercise of stock options and warrants, net of costs	`ProceedsFromWarrantExercises`	-	USD	3 Qtrs
Repayment of related-party notes payable	`RepaymentsOfConvertibleDebt`	$656.22K	USD	3 Qtrs
Repayment of related-party notes payable	`RepaymentsOfConvertibleDebt`	$306.97K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.52M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.94M	USD	3 Qtrs
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$10.87M	USD	3 Qtrs
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-2.69M	USD	3 Qtrs
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.56M	USD	Point-in-time
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`	$15.40M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.56M	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`	$15.40M	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`	$1.07M	USD	3 Qtrs
Cumulative undeclared preferred dividends recorded upon conversion of Class A convertible preferred stock and Class B convertible preferred stock into common	`ConversionOfStockAmountConverted1`	-	USD	3 Qtrs
Reduction of accounts payable for returned fixed assets	`ReductionOfAccountsPayableForReturnedFixedAssets`	$225.11K	USD	3 Qtrs
Reduction of accounts payable for returned fixed assets	`ReductionOfAccountsPayableForReturnedFixedAssets`	-	USD	3 Qtrs
Reclassification of shipper inventory to fixed assets	`NoncashOrPartNoncashAcquisitionReclassificationOfShipperInventoryToFixedAssets`	-	USD	3 Qtrs
Reclassification of shipper inventory to fixed assets	`NoncashOrPartNoncashAcquisitionReclassificationOfShipperInventoryToFixedAssets`	$38.28K	USD	3 Qtrs
Leasehold improvements paid by tenant allowance included in accounts payable and other accrued expenses	`CapitalLeaseObligationsIncurred`	$200.00K	USD	3 Qtrs
Leasehold improvements paid by tenant allowance included in accounts payable and other accrued expenses	`CapitalLeaseObligationsIncurred`	-	USD	3 Qtrs
Issuance of common stock for accrued board of director compensation	`ProceedsFromIssuanceOfCommonStockAccruedBoardOfDirectorCompensation`	-	USD	3 Qtrs
Issuance of common stock for accrued board of director compensation	`ProceedsFromIssuanceOfCommonStockAccruedBoardOfDirectorCompensation`	$26.90K	USD	3 Qtrs

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