Management's Representation and Basis of Presentation

6 Months Ended

Jun. 30, 2026

Management's Representation and Basis of Presentation

Management's Representation and Basis of Presentation

Note 1. Management’s Representation and Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared by Cryoport, Inc. (the “Company”, “Cryoport”, “our” or “we”) in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and pursuant to the instructions to Form 10-Q and Article 10 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statement presentation. However, the Company believes that the disclosures are adequate to make the information presented not misleading. In the opinion of management, all adjustments (consisting primarily of normal recurring accruals) considered necessary for a fair presentation have been included.

Operating results for the three and six months ended June 30, 2026 are not necessarily indicative of the results that may be expected for the year ending December 31, 2026. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

The condensed consolidated financial statements for the three and six months ended June 30, 2025 reflect a $3.7 million correction for an adjustment to goodwill impacting the gain on disposal of the CRYOPDP business, classified as discontinued operations. The condensed consolidated financial statements for the nine months ended September 30, 2025 were not impacted by this change. The Company evaluated the materiality of these corrections and concluded that they were not material to the prior period condensed consolidated financial statements.

The following table summarizes the effects of the correction to discontinued operations by financial statement line item affected (in thousands, except per share data):


		Three Months Ended June 30, 2025									Six Months Ended June 30, 2025
		Previously Reported			Adjustments			As Corrected			Previously Reported			Adjustments			As Corrected
Condensed Consolidated Statements of Operations:
Income (loss) from discontinued operations, net		$	117,194		$	3,689		$	120,883		$	111,951		$	3,689		$	115,640
Net income (loss)		$	105,180		$	3,689		$	108,869		$	93,199		$	3,689		$	96,888
Net income (loss) attributable to common stockholders		$	103,180		$	3,689		$	106,869		$	89,199		$	3,689		$	92,888
Net income (loss) per share from discontinued operations — basic and diluted		$	2.33		$	0.08		$	2.41		$	2.23		$	0.08		$	2.31
Net income (loss) per share — basic and diluted		$	2.05		$	0.08		$	2.13		$	1.78		$	0.07		$	1.85
Condensed Consolidated Statements of Comprehensive Income (Loss):
Total comprehensive income (loss)		$	115,519		$	3,689		$	119,208		$	108,729		$	3,689		$	112,418
Condensed Consolidated Statements of Cash Flows:
Gain on divested business		$	116,662		$	3,689		$	120,351		$	116,662		$	3,689		$	120,351

The Company has evaluated subsequent events through the date of this filing and determined that no subsequent events have occurred that would require recognition in the unaudited condensed consolidated financial statements or disclosure in the notes thereto.