10-Q Filing

Cryoport, Inc. CIK: 1124524 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001144204-18-025078`
Period End Date	20180331
Filing Date	20180503
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	cyrx-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 32 Cash Flow Statement 54

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$70.00K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$70.00K	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.50M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.53M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.50M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.99M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.04M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $70,000	`AccountsReceivableNetCurrent`	$1.63M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $70,000	`AccountsReceivableNetCurrent`	$2.39M	USD	Point-in-time
Inventories	`InventoryNet`	$114.80K	USD	Point-in-time
Inventories	`InventoryNet`	$121.93K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$516.43K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$541.46K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.04M	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.57M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	25.70M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.51M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	27.59M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.70M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$106.00K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$90.65K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	27.59M	shares	Point-in-time
Deposits	`DepositsAssets`	$363.40K	USD	Point-in-time
Deposits	`DepositsAssets`	$363.40K	USD	Point-in-time
Total assets	`Assets`	$20.26M	USD	Point-in-time
Total assets	`Assets`	$25.08M	USD	Point-in-time
Accounts payable and other accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.23M	USD	Point-in-time
Accounts payable and other accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.35M	USD	Point-in-time
Accrued compensation and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$925.51K	USD	Point-in-time
Accrued compensation and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$1.07M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$23.07K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$26.65K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.44M	USD	Point-in-time
Deferred rent liability	`DeferredRentCreditNoncurrent`	$192.20K	USD	Point-in-time
Deferred rent liability	`DeferredRentCreditNoncurrent`	$189.05K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.38M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.63M	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; 27,593,118 and 25,701,924 issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$27.59K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 27,593,118 and 25,701,924 issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$25.70K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$156.54M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$149.29M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-131.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-134.12M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$17.89M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$22.45M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$25.08M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$20.26M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$2.71M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$4.02M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.46M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.84M	USD	1 Quarter
Gross margin	`GrossProfit`	$2.18M	USD	1 Quarter
Gross margin	`GrossProfit`	$1.25M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.07M	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`	$1.58M	USD	1 Quarter
Engineering and development	`ResearchAndDevelopmentExpense`	$329.73K	USD	1 Quarter
Engineering and development	`ResearchAndDevelopmentExpense`	$249.84K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$3.98M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$3.02M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.80M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.77M	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$15.67K	USD	1 Quarter
Warrant inducement and repricing expense	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Warrant inducement and repricing expense	`FairValueAdjustmentOfWarrants`	$899.41K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$15.77K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.78M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.68M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.23K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$813.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.68M	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	26.77M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.60M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.68M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$187.83K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$131.55K	USD	1 Quarter
Amortization of debt discounts and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	-	USD	1 Quarter
Amortization of debt discounts and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$6.13K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.05M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$770.44K	USD	1 Quarter
Warrant inducement and repricing expense	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Warrant inducement and repricing expense	`FairValueAdjustmentOfWarrants`	$899.41K	USD	1 Quarter
Loss on disposal of property and equipment	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$-17.24K	USD	1 Quarter
Loss on disposal of property and equipment	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$-20.59K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInLongTermReceivablesCurrent`	$760.43K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInLongTermReceivablesCurrent`	$272.37K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$7.13K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-18.54K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$34.50K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$25.04K	USD	1 Quarter
Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$329.51K	USD	1 Quarter
Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$105.34K	USD	1 Quarter
Accrued compensation and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$149.02K	USD	1 Quarter
Accrued compensation and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-5.41K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	-	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-1.84K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.06M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-829.92K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$631.08K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$269.54K	USD	1 Quarter
Patent and trademark costs	`PaymentsToAcquireIntangibleAssets`	$15.35K	USD	1 Quarter
Patent and trademark costs	`PaymentsToAcquireIntangibleAssets`	$10.20K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-284.89K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-641.28K	USD	1 Quarter
Proceeds from the public offering, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from the public offering, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$11.57M	USD	1 Quarter
Proceeds from February 2018 tender offer, net of offering costs	`ProceedsFromIssuanceOfWarrants`	-	USD	1 Quarter
Proceeds from February 2018 tender offer, net of offering costs	`ProceedsFromIssuanceOfWarrants`	$4.64M	USD	1 Quarter
Proceeds from exercise of stock options and warrants	`ProceedsFromWarrantExercises`	$658.54K	USD	1 Quarter
Proceeds from exercise of stock options and warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Repayment of related-party notes payable	`RepaymentsOfConvertibleDebt`	-	USD	1 Quarter
Repayment of related-party notes payable	`RepaymentsOfConvertibleDebt`	$92.38K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.48M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.30M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.01M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.95M	USD	1 Quarter
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.53M	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`	$18.99M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.04M	USD	Point-in-time
Cash and cash equivalents end 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`	$18.99M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.04M	USD	Point-in-time
Offering costs included in additional paid-in capital and accounts payable and other accrued expenses	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	-	USD	1 Quarter
Offering costs included in additional paid-in capital and accounts payable and other accrued expenses	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$165.99K	USD	1 Quarter

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