Cryosite Limited (ASX:CTE) is an Australian company specialising in temperature-controlled storage and logistics solutions for the life sciences and pharmaceutical industries, in particular for clinical trials and biological materials. CTE has released a trading update for the financial year-to-date to 30 April 2026 which continues to show a strong revenue and earnings growth trajectory. Revenue was up 22% on the previous corresponding period (pcp) while EBITDA was up 28% and EBIT was up 37% on the pcp. Operating leverage is coming through, with EBITDA margins up to 25% from 24% in the pcp. Growth in underlying demand, particularly in the Ultra-Frozen and Cryogenic segment, continues to be a driving force. Importantly, growth initiatives in expansion projects are on time and on/under budget. Finally, CTE has refinanced its debt facility with the National Australia Bank (NAB) on competitive terms, with the facility extended on a four-year term to 2030 to provide greater certainty and long-term financial flexibility. Strong operating cash flows have resulted in accelerated debt repayment, leaving only ~$5.6m of gross debt outstanding currently.
