10-Q · July 15, 2026
Cryo-Cell International, Inc. reported Q2 2026 revenues of $7.78 million, down 2% from $7.93 million in Q2 2025, with diluted EPS of $0.07. Although revenue slightly declined year-over-year due to a decrease in new cord…
Earnings analysis · 10-Q
CCEL earnings analysis
Filed October 9, 2026 · Our reading of the company's report
The latest report
Cryo-Cell reported Q3 2026 revenue of $7,824,156, essentially unchanged from $7,825,432 a year earlier, while diluted EPS increased to $0.16 from $0.09. Lower cost of sales of $1,613,213 drove gross margin to…
Read full summary
Cryo-Cell reported Q3 2026 revenue of $7,824,156, essentially unchanged from $7,825,432 a year earlier, while diluted EPS increased to $0.16 from $0.09. Lower cost of sales of $1,613,213 drove gross margin to approximately 79.4% and operating margin to approximately 28.0%, despite a 16% decline in new domestic specimens processed. Liquidity improved, with cash rising to $1,425,663 and nine-month operating cash flow of $3,639,507, but the company remains exposed to NYSE American compliance, potential dilution, and the unresolved Duke arbitration, with a decision expected by the end of 2026.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.16
What stood out
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Revenue Stable Despite Lower New Specimens
Q3 revenue was $7,824,156, essentially flat versus $7,825,432 a year earlier and up from approximately $7.78 million in Q2 2026. Recurring annual storage fee revenue increased 3%, partially offset by a 16% decline in new domestic specimens processed.
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Gross Margin Expanded
Gross margin increased to approximately 79.4%, based on revenue of $7,824,156 and cost of sales of $1,613,213, versus 77.0% in Q3 2025 and 78.4% in Q2 2026.
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Operating Leverage Improved
Operating margin improved to approximately 28.0%, based on operating income of approximately $2,193,731 after $3,779,109 of SG&A, $53,624 of R&D and $184,479 of depreciation and amortization. This compares with 24.3% in Q3 2025 and 15.4% in Q2 2026.
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EPS Increased Materially
Diluted EPS was $0.16, up from $0.09 in Q3 2025 and $0.07 in Q2 2026. The improvement benefited from lower interest expense of $438,305 versus $538,219 a year earlier and a $69,755 gain on marketable securities versus a $193,886 loss.
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Cash Position Strengthened
Cash and cash equivalents rose to $1,425,663 at August 31, 2026 from $319,031 at November 30, 2025. Nine-month operating cash flow was $3,639,507, while equipment purchases were $201,645.
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Revolver Repaid
The revolving credit facility balance was $0 at August 31, 2026. During the first nine months, the Company paid $3,629,517 toward the Susser Bank note and revolving line of credit, partially offset by $1,200,000 of new revolver borrowings.
What to watch
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NYSE American Listing Risk
The Company received notice that it was not compliant with NYSE American Section 1003(a) on March 9, 2026. Although the compliance plan was accepted on May 6, 2026 with an extension to September 9, 2027, failure to regain compliance could result in delisting and impair access to capital.
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Duke Arbitration Uncertainty
The Duke License Agreement was terminated effective May 17, 2025, and the final arbitration hearing concluded in late July 2026, with a ruling anticipated by the end of calendar 2026. Cryo-Cell has stated that claimed damages exceed $100 million, while Duke's counterclaims seek unspecified damages.
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Duke Growth Initiative On Hold
Management states that it is unlikely the Company will commercialize the Duke-licensed rights, open the Cryo-Cell Institute for Cellular Therapies or complete the proposed Celle Corp. spinoff. The Company had previously estimated that more than $50 million would be required over five years for Duke-related activities.
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Potential Equity Dilution
The Company may need to issue additional equity to regain NYSE American compliance or fund operations. Any issuance could dilute existing shareholders, and management states that additional debt or equity financing may not be available on favorable terms or at all.
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New Enrollment Pressure
Nine-month revenue declined to $23,283,386 from $23,723,155 despite a 3% increase in recurring annual storage fee revenue, because new domestic specimens processed declined 15% for the period. Continued weakness in new enrollments could pressure future revenue growth.
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Legal Costs Increased
Nine-month SG&A increased 5% to $13,408,955, driven primarily by a $1.98 million increase in legal fees and expenses. Higher litigation spending could continue to offset operating improvements.
Management's outlook
No explicit numeric revenue or EPS guidance was provided. Management states that cash, marketable securities, operating cash flow and external capital are expected to fund known cash needs for at least the next 12 months. Until the Duke dispute is resolved, the Company does not anticipate further investments in Duke-related activities.
Earlier filings 4
10-Q · April 14, 2026
Q1 revenue declined to $7.683M (down $285,763, -3.6% y/y) while gross margin improved to 78.5% from 75.1%. Operating income fell to $765,134 (down $290,877, -27.5% y/y) and EPS declined to $0.01 from $0.03. Operating…
10-K · February 27, 2026
Cryo-Cell (CCEL) remains a specialized cord blood and tissue storage operator with three reportable segments (family storage, PrepaCyte® CB manufacture, and public cord blood storage) and a large asset base of stored…
10-Q · April 14, 2025
Cryo-Cell reported slight revenue growth to $7,968,880 for the three months ended February 28, 2025 (up $116,645 vs. $7,852,235). Operating income improved to $1,056,011 (operating margin ~13.3%), and operating cash…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.