CryoPort, Inc.

Good afternoon, and welcome to the CryoPort Fourth Quarter and Full Year 2021 Earnings Conference Call. As a reminder, this call is being recorded. It is my pleasure to turn the call over to Todd Frommer, President, KCSA Strategic Communications. Please go ahead, sir.

Thank you, Operator. Before we begin today, I would like to remind everyone that this conference call contains certain forward-looking statements. All statements that address our operating performance, events, or developments that we expect or anticipate occurring in the future are forward-looking statements. These forward-looking statements are based on management's beliefs and assumptions and not on information currently available to our management team. Our management team believes that these forward-looking statements are reasonable as and when made. However, you should not place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We do not undertake any obligation to publicly update or revise any of these statements, whether as a result of new information or future events or otherwise, except as required by law. In addition, these statements are subject to certain risks and uncertainties that could cause actual results, events and development to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in Item 1A, Risk Factors, elsewhere in our annual report on Form 10-K, filed with the Securities and Exchange Commission, and those described from time to time in other reports which we file with the Securities and Exchange Commission. It is now my pleasure to turn the call over to Mr. Gerald Shelton, Chief Executive Officer of Cryoport. Jerry, the floor is yours.

Thank you, Todd. Good afternoon, ladies and gentlemen. We appreciate your joining our earnings call today. With me this afternoon is our Chief Financial Officer, Mr. Robert Stavanovich, our Chief Scientific Officer, Dr. Mark Sawicki, and our Vice President of Corporate Development and Investor Relations, Thomas Heinzen. As a reminder, we have uploaded our fourth quarter 2021 in-review document to our website. It can be found under Investor Relations in the Event and Presentation sections. This document provides a review of our recent financial and operational performance and a general business outlook. If you have not had a chance to read it, I would encourage you to go to our website and download it. I will provide you with a brief update on our business, and then we'll move on to answering your questions. We continue to successfully execute by having a client focus, embracing innovation, operating with excellence and certainty, and driving productivity. In turn, we delivered excellent results in 2021 as multiple engines of growth drove double-digit gains in revenue. This strong performance was fueled by new product and services, geographic expansion, and a sharpening of our competencies across all our industry-leading brands, specifically MVE and Cryo PDP. Having completed financing in November, we closed the year in the strongest position in our company's history with $628 million in cash, cash equivalents, and short-term investments. This positioned us well to continue investing in the business and delivering strong growth in the years ahead. Our core business is strong and our team is executing at a very high level. This is reflected in our financial results with solid organic revenue growth of 34% in the fourth quarter and total revenue of $222.6 million for the full year, which represents 183% year-over-year growth. During the quarter, we onboarded 311 new Pharma BioPharma customers. Revenue from our eight commercial agreements ramped on a global basis. We continued to build out of pipeline of potential commercial customers, with our total number of regenerative medicine clinical trials supported reaching a record 602, an increase of 14% from 2020. It's worth noting that a record 74 of these trials are now in phase three. In recent months, there have been significant milestones accomplished in regenerative medicine markets around the world. A total of 11 crowd support supported BLAs or MAAs were filed in 2021. Currently, we anticipate an additional 19 filings and as many as four new therapy approvals and an additional six label or geographic expansion approvals in 2022. Complementing this, we expect an additional 12 filings in 2023. Amongst other market drivers, this growing pipeline reflects the rising activity in the cell and gene therapies market and the strong demand for our industry-leading, comprehensive supply chain solutions for the life sciences. In short, we believe the stage is set for Crowdport to experience significant growth in 2022 and beyond. Expanding our geographic footprint was an important initiative in 2021, which we accomplished via acquisitions, partnerships, and business alliances. As a result, we now operate 33 facilities in 15 countries, covering key biopharmaceutical regions in the Americas, EMEA, and APAC. Today, we're well positioned to support the increasing demands from our customers in the cell and gene therapy market throughout the world, and we'll continue to expand our capabilities, competencies, and footprint to meet the needs of this rapidly growing market we serve. We're pleased with our 2021 results and will continue to sharpen our focus on the cell and gene therapy markets, strengthening our brands with the ultimate objective of building out our market share leadership and achieving maximum value for our shareholders. Now, we'll be happy to answer your questions. Operator, please open the lines for the participants.