Cryoport stock is a buy, this analyst says

Roth Capital analyst Richard Baldry maintained a “Buy” rating and $15.00 target on Cryoport (Cryoport Stock Quote, Chart, News, Analysts, Financials NASDAQ:CYRX) after what he called a good first quarter, with revenue ahead of his forecast and Adjusted EBITDA losses narrowing.

Cryoport reported revenue of $47.8-million, up 16.5% year-over-year after adjusting for the CryoPDP divestiture and above Baldry’s $44.7-million estimate. The company also narrowed its Adjusted EBITDA loss to $0.6-million from a $1.4-million loss in the prior quarter.

“We have left our revenue forecasts for the balance of 2026 unchanged and incrementally conservative,” Baldry said.

Baldry said the key positive was accelerating growth in core services, which are more recurring-oriented than product revenue. Cell and gene therapy trial revenue rose 18%  to $12.9-million, commercial CGT revenue rose 26%  to $9.1-million, BioServices/BioStorage revenue rose 21%  to $5.2-million and BioLogistics revenue rose 17%  to $21.7-million.

Cryoport raised 2026 revenue guidance to $192-million to $196-million from $190-million to $194-million. Baldry lifted his full-year revenue estimate to $193.4-million from $190.2-million, but said the guidance still looks conservative given the first-quarter upside.

“If this pattern proves correct, we would view the underlying acceleration of recurring and higher-margined services revenues as an important improvement to its overall financial model,” Baldry said.

The analyst expects Cryoport to reach positive Adjusted EBITDA in the second half of 2026, helped by record clinical trial support, new product offerings and growing services scale.

Baldry expects Cryoport to generate $0.1-million in Adjusted EBITDA on $193.4-million in revenue in fiscal 2026, improving to $3.2-million on $212.9-million in fiscal 2027.

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