What CryoPort, Inc. told the SEC could break it.

CryoPort acquires various component parts for its cold-chain and cryogenic solutions from independent manufacturers, some of which are sole-sourced, and warns it would likely experience significant delays or cessation in producing some of these components if a labor strike, natural disaster, public-health crisis, act of war or other supply disruption occurred; inability to procure a component could harm its delivery, reputation and competitiveness.

“We currently acquire various component parts for our solutions from various independent manufacturers, some of which are sole sourced. We would likely experience significant delays or cessation in producing some of these components if a labor strike, natural disaster, public health crisis, act of war or other supply disruption were to occur.”

CryoPort's revenue is concentrated in the biopharma/cell-and-gene-therapy industry — one customer in its Life Sciences Services segment generated ~10.2% of total revenue in 2025 (no single customer exceeded 10% in 2024/2023) — with ~25.5% of revenue from foreign customers (UK, France, Germany, China); loss of that key customer or sector-wide CGT spending weakness would materially affect revenue, and its accounts-receivable are concentrated in these industries. (Customer not named.)

“One customer in our Life Sciences Services reportable segment generated approximately 10.2 % of revenue during the year ended December 31, 2025.”

CryoPort's MVE Biological Solutions cryogenic-systems manufacturing is located in the United States and China, and its operations span ~20 sites across the Americas, EMEA and APAC; its MVE manufacturing facility in Chengdu, China was temporarily shut by COVID-19 lockdowns in 2022 and similar disruptions could recur, concentrating manufacturing and geopolitical risk in the U.S./China footprint.

“MVE has manufacturing facilities located in the United States and China.”

CryoPort's business depends on FDA and foreign regulatory regimes — certain operations are FDA-regulated, future products could be regulated as medical devices (and China's NMPA applies abroad), and its growth tracks accelerating cell-and-gene-therapy approvals — while 2025 U.S. trade-policy changes (higher tariffs on imports from China, the EU and others, plus reciprocal/retaliatory tariffs) could raise its costs and disrupt cross-border trade, with uncertain ultimate impact.

“beginning in 2025, the current Trump administration instituted changes in trade policies that included the imposition of higher tariffs on imports into the U.S. and other government regulations affecting trade between the U.S. and other countries where we conduct our business, such as China and the European Union (EU), among others.”