[Second Quarter 2025 Financial and Business Overview](index=1&type=section&id=Second%20Quarter%202025%20Financial%20and%20Business%20Overview) The company reported strong Q2 2025 results, driven by cell processing revenue growth and strategic acquisitions, despite a GAAP net loss impacted by a one-time IPR&D expense [Management Commentary and Business Highlights](index=1&type=section&id=Management%20Commentary%20and%20Business%20Highlights) Management reported strong Q2 performance, with cell processing revenue up 28% year-over-year, driven by the biopreservation media franchise and strategic acquisitions - Cell processing revenue increased by **28% year-over-year**, achieving its **seventh consecutive quarter** of sequential growth, primarily led by the biopreservation media (BPM) franchise[4](index=4&type=chunk) - The company's biopreservation media is utilized in **over 250** commercially sponsored clinical trials in the U.S., representing **over 70% market share**, and is embedded in **16 unique commercial cell and gene therapies**[6](index=6&type=chunk) - Strategic growth initiatives included the **acquisition of the remaining 90% of PanTHERA CryoSolutions** to enhance biopreservation capabilities and a **$2.0 million investment in Pluristyx, Inc.** to support iPSC-based product development[10](index=10&type=chunk) [Key Financial Highlights](index=1&type=section&id=Key%20Financial%20Highlights) Q2 2025 saw Cell Processing revenue grow 28% to $23.0 million, with a GAAP net loss of $15.8 million largely due to a $15.5 million IPR&D expense Q2 2025 Key Financial Metrics | Metric | Value | | :--- | :--- | | Cell Processing Revenue | $23.0 million (+28% YoY) | | GAAP Gross Margin | 62% | | Non-GAAP Adj. Gross Margin | 65% | | GAAP Net Loss | $15.8 million | | Non-GAAP Adj. EBITDA | $6.1 million (24% of revenue) | - The GAAP net loss includes a significant one-time, non-cash charge of **$15.5 million** for in-process research and development (IPR&D) from the PanTHERA acquisition, impacting GAAP EPS by approximately **$0.32** for the quarter[1](index=1&type=chunk)[7](index=7&type=chunk) [Second Quarter 2025 Financial Results](index=2&type=section&id=Second%20Quarter%202025%20Financial%20Results) Q2 2025 financial results show significant revenue growth across platforms, improved adjusted profitability, and a solid cash position [Revenue](index=2&type=section&id=Revenue) Total revenue for Q2 2025 increased 29% year-over-year to $25.4 million, driven by strong growth in both Cell Processing and evo and Thaw platforms Revenue Performance (Q2 2025 vs Q2 2024) | Revenue Stream | Q2 2025 (Millions USD) | YoY Growth | | :--- | :--- | :--- | | Total Revenue | $25.4 | 29% | | Cell Processing Platform | $23.0 | 28% | | evo and Thaw Platform | $2.5 | 44% | Revenue Performance (Six Months Ended June 30, 2025 vs 2024) | Revenue Stream | H1 2025 (Millions USD) | YoY Growth | | :--- | :--- | :--- | | Total Revenue | $49.4 | 29% | | Cell Processing Platform | $44.6 | 30% | | evo and Thaw Platform | $4.8 | 22% | [Profitability and Margins](index=3&type=section&id=Profitability%20and%20Margins) Q2 2025 GAAP gross margin was 62%, with a GAAP operating loss of $16.6 million, while adjusted EBITDA improved to $6.1 million, or 24% of revenue Gross Margin Performance (Q2 2025 vs Q2 2024) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | GAAP Gross Margin | 62% | 64% | | Non-GAAP Adj. Gross Margin | 65% | 67% | Profitability Metrics (Q2 2025 vs Q2 2024) | Metric | Q2 2025 (Millions USD) | Q2 2024 (Millions USD) | | :--- | :--- | :--- | | GAAP Operating Loss | ($16.6) | ($1.3) | | GAAP Net Loss | ($15.8) | ($5.6) | | GAAP Loss Per Share | ($0.33) | ($0.12) | | Non-GAAP Adj. Net Income/(Loss) | $0.5 | ($1.0) | - Adjusted EBITDA for Q2 2025 increased to **$6.1 million** (**24% of revenue**) from **$3.9 million** (**20% of revenue**) in Q2 2024, with the six-month adjusted EBITDA at **$11.8 million** (**24% of revenue**), up from **$6.5 million** (**17% of revenue**) in the prior year[16](index=16&type=chunk)[19](index=19&type=chunk) [Financial Position](index=5&type=section&id=Financial%20Position) As of June 30, 2025, the company maintained a strong financial position with $100.2 million in cash, cash equivalents, and marketable securities - The company's cash, cash equivalents, and marketable securities totaled **$100.2 million** as of June 30, 2025[20](index=20&type=chunk) [2025 Financial Guidance](index=1&type=section&id=2025%20Financial%20Guidance) The company raised its full-year 2025 revenue guidance, reflecting strong performance and an optimistic outlook for gross and EBITDA margins [Updated Revenue and Margin Outlook](index=1&type=section&id=Updated%20Revenue%20and%20Margin%20Outlook) BioLife Solutions raised its full-year 2025 revenue guidance to $100.0 - $103.0 million, anticipating GAAP gross margin in the low 60% range Full-Year 2025 Revenue Guidance | Category | Revised Guidance (Millions USD) | Prior Guidance (Millions USD) | YoY Growth | | :--- | :--- | :--- | :--- | | Total Revenue | $100.0 - $103.0 | $95.5 - $99.0 | 22% - 25% | | Cell Processing Revenue | $91.0 - $93.0 | $86.5 - $89.0 | 24% - 26% | | evo and Thaw Revenue | $9.0 - $10.0 | Affirmed | 3% - 15% | - Management expects full-year 2025 GAAP gross margin to be in the **low 60% range** and adjusted gross margin (non-GAAP) in the **mid-60% range**, with continued expansion of adjusted EBITDA margin compared to 2024[20](index=20&type=chunk) [Consolidated Financial Statements (Unaudited)](index=8&type=section&id=Consolidated%20Financial%20Statements%20%28Unaudited%29) This section provides the unaudited consolidated financial statements, including statements of operations, balance sheet, and cash flows for the periods presented [Condensed Consolidated Statements of Operations](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) This section presents the unaudited statements of operations for Q2 and H1 2025, detailing revenue, operating expenses, and net loss from continuing operations Condensed Consolidated Statements of Operations (in thousands) | | Three Months Ended June 30, | Six Months Ended June 30, | | :--- | :--- | :--- | | | **2025** | **2024** | **2025** | **2024** | | **Total revenue** | **$25,421** | **$19,715** | **$49,362** | **$38,148** | | Total operating expenses | $42,064 | $21,021 | $67,222 | $42,749 | | *IPR&D expense* | *$15,521* | *$—* | *$15,521* | *$—* | | **Operating loss** | **($16,643)** | **($1,306)** | **($17,860)** | **($4,601)** | | **Net loss from continuing operations** | **($15,838)** | **($5,560)** | **($16,286)** | **($8,759)** | | **Loss per share from continuing ops** | **($0.33)** | **($0.12)** | **($0.34)** | **($0.19)** | [Condensed Consolidated Balance Sheet](index=10&type=section&id=Condensed%20Consolidated%20Balance%20Sheet) This section provides a snapshot of the company's financial position, comparing assets, liabilities, and equity as of June 30, 2025, and December 31, 2024 Condensed Consolidated Balance Sheet Information (in thousands) | | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash, cash equivalents, and marketable securities | $100,237 | $109,212 | | Total assets | $387,240 | $399,487 | | Total liabilities | $40,085 | $50,578 | | Total shareholders' equity | $347,155 | $348,909 | [Condensed Consolidated Statement of Cash Flows](index=12&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) This statement details cash flows for the six months ended June 30, 2025, showing positive operating cash flow and a net decrease in cash Condensed Consolidated Statement of Cash Flows (in thousands, for six months ended June 30) | | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $9,095 | $1,984 | | Net cash used in investing activities | ($66,709) | ($13,656) | | Net cash used in financing activities | ($5,870) | ($1,656) | | **Net decrease in cash and cash equivalents** | **($63,484)** | **($13,393)** | [Reconciliation of GAAP to Non-GAAP Financial Measures](index=12&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Financial%20Measures) This section provides detailed reconciliations of GAAP financial measures to their non-GAAP adjusted counterparts, highlighting key adjustments [Reconciliation of Gross Profit and Gross Margin](index=12&type=section&id=Reconciliation%20of%20Gross%20Profit%20and%20Gross%20Margin) This section reconciles GAAP gross profit to non-GAAP adjusted gross profit, showing Q2 2025 GAAP gross margin at 62% and adjusted gross margin at 65% Reconciliation of Gross Profit (in thousands) | | Three Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | | :--- | :--- | :--- | | **GAAP GROSS PROFIT** | **$15,831 (62%)** | **$31,022 (63%)** | | Intangible asset amortization | $602 | $1,198 | | **ADJUSTED GROSS PROFIT** | **$16,433 (65%)** | **$32,208 (65%)** | [Reconciliation of Operating Loss/Income](index=16&type=section&id=Reconciliation%20of%20Operating%20Loss%2FIncome) This table reconciles GAAP operating loss to non-GAAP adjusted operating loss by excluding specific non-recurring and non-cash items Reconciliation of Operating Loss (in thousands) | | Three Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | | :--- | :--- | :--- | | **GAAP OPERATING LOSS** | **($16,643)** | **($17,860)** | | IPR&D expense | $15,521 | $15,521 | | Intangible asset amortization | $708 | $1,410 | | Other adjustments | ($59) | $1,347 | | **ADJUSTED OPERATING (LOSS)/INCOME** | **($473)** | **$418** | [Reconciliation of Net Loss/Income](index=18&type=section&id=Reconciliation%20of%20Net%20Loss%2FIncome) This section reconciles GAAP net loss to non-GAAP adjusted net income by removing the impact of non-recurring or non-cash items Reconciliation of Net Loss (in thousands) | | Three Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | | :--- | :--- | :--- | | **GAAP NET LOSS** | **($15,838)** | **($16,286)** | | IPR&D expense | $15,521 | $15,521 | | Intangible asset amortization | $708 | $1,410 | | Other adjustments | $67 | $1,487 | | **ADJUSTED NET INCOME** | **$458** | **$2,132** | [Reconciliation of Adjusted EBITDA](index=19&type=section&id=Reconciliation%20of%20Adjusted%20EBITDA) This table reconciles GAAP net loss to non-GAAP adjusted EBITDA, incorporating adjustments for non-cash and non-recurring expenses Reconciliation to Adjusted EBITDA (in thousands) | | Three Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | | :--- | :--- | :--- | | **GAAP NET LOSS** | **($15,838)** | **($16,286)** | | Interest, Taxes, Depreciation & Amortization | $823 | $1,541 | | **EBITDA** | **($15,215)** | **($15,050)** | | Share-based compensation | $5,849 | $10,002 | | IPR&D expense | $15,521 | $15,521 | | Other adjustments | ($59) | $1,347 | | **ADJUSTED EBITDA** | **$6,096 (24% of Revenue)** | **$11,820 (24% of Revenue)** |

Core Insights - BioLife Solutions, Inc. has invested $2 million in convertible notes of Pluristyx, Inc., a Seattle-based developer of iPSC-based products for cell therapy [1] - This investment is part of a larger financing round and includes a board observer seat and rights related to potential future acquisitions of Pluristyx [1] Company Overview - BioLife Solutions specializes in bioproduction products and services for the cell and gene therapy market, facilitating the commercialization of new therapies [4] - Pluristyx focuses on developing next-generation cell-based tools and therapies, offering products like PluriKit™, PluriForm™ Organoids, and PluriBank™ stem cells [3] Strategic Rationale - The investment aligns with BioLife's strategy to explore biological assays as a product portfolio adjacency, following similar investments in other companies [2] - Pluristyx's recent development of an iPSC-based biological assay for organoid manufacturing complements BioLife's interests [2]

Core Insights - BioLife Solutions, Inc. is set to release its second quarter 2025 financial results on August 7, 2025, after market close [1] - A conference call and live webcast will be held at 4:30 PM ET to discuss the financial results and provide a business update [1] Company Overview - BioLife Solutions is a prominent developer and supplier of bioproduction products and services for the cell and gene therapy (CGT) market [3] - The company specializes in solutions that preserve the health and function of biological materials throughout their lifecycle, including collection, development, storage, and distribution [3] Investor Relations - Investors can access the webcast through the Investor Relations page on the BioLife Solutions website [2] - The conference call can be joined via toll-free numbers for domestic and international callers [2] - A replay of the webcast will be available approximately two hours after the call and archived for 90 days [2]

Group 1 - BioLife Solutions, Inc. (BLFS) closed at $22.03, with a 3.2% gain over the past four weeks, and a mean price target of $31.22 indicating a 41.7% upside potential [1] - The average of nine short-term price targets ranges from $30 to $34, with a standard deviation of $1.48, suggesting a low variability among analysts [2] - Analysts are optimistic about BLFS's earnings prospects, with a significant increase in the Zacks Consensus Estimate for the current year by 123.1% [12] Group 2 - The Zacks Rank for BLFS is 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimates [13] - Analysts' agreement on higher earnings estimates is a strong indicator of potential stock price movements, as empirical research shows a correlation between earnings estimate revisions and stock price changes [11] - While price targets are often viewed skeptically, the direction they imply for BLFS appears to be a good guide for potential upside [10][13]

Core Insights - BioLife Solutions, Inc. is a prominent developer and supplier of bioproduction products and services specifically for the cell and gene therapy (CGT) market [1] - The company is actively participating in several upcoming investor conferences, indicating a focus on investor relations and market engagement [3] Company Overview - BioLife Solutions specializes in solutions that preserve the health and functionality of biological materials throughout their lifecycle, including collection, development, storage, and distribution [1] Upcoming Investor Conferences - The company will participate in the following conferences: - 22nd Annual Craig-Hallum Institutional Investor Conference on May 28, 2025, in Minneapolis, MN [3] - Benchmark 2025 Healthcare House Call Virtual Conference on May 29, 2025, virtually [3] - Jefferies Global Life Sciences Conference from June 3 to June 5, 2025, in New York, NY [3] - Wolfe Research Small & Mid-Cap Conference on June 5, 2025, in New York, NY [3] - Northland Growth Conference 2025 on June 25, 2025, virtually [3]

Core Viewpoint - BioLife Solutions, Inc. (BLFS) shares have increased by 8.2% recently, with a mean price target of $31.22 suggesting a potential upside of 30.7% from the current price of $23.89 [1] Price Targets and Analyst Estimates - The mean estimate consists of nine short-term price targets with a standard deviation of $1.48, indicating variability among analysts [2] - The lowest price target is $30, representing a 25.6% increase, while the highest target is $34, indicating a potential surge of 42.3% [2] - A low standard deviation suggests a high degree of agreement among analysts regarding the stock's price movement [9] Earnings Estimates and Analyst Sentiment - Analysts are optimistic about BLFS's earnings prospects, as indicated by a positive trend in earnings estimate revisions [4][11] - The Zacks Consensus Estimate for the current year has risen by 19.2% over the past month, with no negative revisions [12] - BLFS holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimates [13]

Company Performance - BioLife Solutions, Inc. reported quarterly earnings of $0.04 per share, exceeding the Zacks Consensus Estimate of a loss of $0.03 per share, and showing improvement from a loss of $0.19 per share a year ago, resulting in an earnings surprise of 233.33% [1] - The company achieved revenues of $23.94 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 5.28%, although this represents a decline from year-ago revenues of $31.73 million [2] - Over the last four quarters, BioLife Solutions has consistently surpassed consensus EPS estimates [2] Stock Performance - BioLife Solutions shares have declined approximately 17.8% since the beginning of the year, in contrast to the S&P 500's decline of 4.3% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.03 on revenues of $23.29 million, and for the current fiscal year, it is -$0.09 on revenues of $97.18 million [7] Industry Outlook - The Medical - Products industry, to which BioLife Solutions belongs, is currently ranked in the bottom 32% of over 250 Zacks industries, indicating potential challenges ahead [8] - The performance of BioLife Solutions may be influenced by the overall outlook of the industry, as historical data shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

Financial Data and Key Metrics Changes - The company reported Q1 revenue of $23.9 million, representing a 30% year-over-year increase, primarily driven by a 33% increase in the cell processing platform revenue [14][17] - GAAP gross margin for Q1 2025 was 63%, consistent with Q1 2024, while adjusted gross margin remained at 66% [14][15] - Adjusted EBITDA for Q1 2025 was $5.7 million, or 24% of revenue, compared to $2.6 million, or 14% of revenue in the prior year [17][18] Business Line Data and Key Metrics Changes - Cell processing revenue increased to $21.6 million, a 33% year-over-year increase and a 6% sequential increase from Q4 last year [6][7] - The biopreservation media (BPM) product line continues to be a significant driver, with 80% of BPM revenue coming from the top 20 customers [8][9] - Approximately 60% of BPM revenue comes from direct sales, with 40% from distribution channels [9] Market Data and Key Metrics Changes - The company estimates that its BPM products are used in at least 70% of relevant commercially sponsored cell and gene therapy (CGT) trials in the U.S., with a share of late-stage clinical trials exceeding 75% [10] - The company has a strong position in the market, with only homebrew formulations as meaningful alternatives to its offerings [11] Company Strategy and Development Direction - The company is focused on delivering leading solutions to the cell and gene therapy market and is committed to sustainable growth throughout 2025 [7][13] - The acquisition of Panthera CryoSolutions is aimed at expanding the biopreservation portfolio and enhancing scientific capabilities [13] - The company is optimistic about long-term industry fundamentals but acknowledges near-term uncertainties from factors like tariffs and NIH funding cuts [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating potential headwinds with minimal impact on financial results [71] - The company reaffirmed its full-year revenue guidance of $95.5 million to $99 million, with growth led by the cell processing platform [14][19] Other Important Information - The company ended the quarter with over $100 million in cash, providing a solid foundation for growth initiatives [7] - Adjusted operating income for Q1 2025 was $900,000, compared to an adjusted operating loss of $2.4 million in Q1 2024 [17] Q&A Session Summary Question: Insights on clinical side demand trends - Management noted that clinical customers showed reasonable performance, with growth driven primarily by commercial customers [22][23] Question: Details on the Panthera acquisition - The acquisition was timed to leverage proven technology and aims to develop next-generation cryopreservation products [26][27] Question: Current status of pricing changes - Management indicated that they are more than halfway through pricing adjustments for key customers, with a gradual implementation over three years [33][34] Question: Impact of tariffs and NIH funding - Management assessed that they have limited exposure to tariffs and NIH funding cuts, with minimal impact expected on their cost of goods [39][40] Question: Future M&A pipeline and CapEx projects - The company is exploring small tuck-in acquisitions and has plans for significant CapEx projects, including facility expansions [46][47] Question: Potential for media swaps with Panthera products - Management indicated that switching costs for customers to change biopreservation media are significant, making it unlikely for existing commercial products to switch [52][54] Question: Ability to pass on tariff costs to customers - Management confirmed that they could implement surcharges for any material increases in costs due to tariffs [55][56]

Financial Data and Key Metrics Changes - The company reported Q1 revenue of $23.9 million, representing a 30% year-over-year increase, primarily driven by a 33% increase in the cell processing platform revenue [13][15] - GAAP gross margin for Q1 2025 was 63%, consistent with Q1 2024, while adjusted gross margin remained at 66% [13][14] - Adjusted EBITDA for Q1 2025 was $5.7 million, or 24% of revenue, compared to $2.6 million, or 14% of revenue in the prior year [15][16] Business Line Data and Key Metrics Changes - Cell processing revenue increased to $21.6 million, a 33% year-over-year increase and a 6% sequential increase from Q4 last year [6][15] - The biopreservation media (BPM) product line continues to be the primary driver of revenue, with top 20 customers accounting for approximately 80% of BPM revenue [6][7] - The company expects continued growth from commercial customers, with around 40% of BPM revenue coming from customers with approved commercial therapies [7][12] Market Data and Key Metrics Changes - Approximately 60% of BPM revenue comes from direct sales, while 40% is through distribution [7] - The company estimates its BPM products are used in at least 70% of relevant commercially sponsored cell and gene therapy trials in the U.S., with a share of late-stage clinical trials exceeding 75% [8][9] Company Strategy and Development Direction - The company is committed to delivering leading solutions to the cell and gene therapy market and has reaffirmed its full-year revenue guidance of $95.5 million to $99 million [12][13] - The acquisition of Panthera CryoSolutions is aimed at expanding the biopreservation portfolio and enhancing scientific capabilities, with a focus on developing next-generation cryopreservation products [12][26] - The company is actively monitoring potential near-term headwinds from tariffs and NIH funding cuts but does not expect any material impact on its financial outlook [12][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating potential headwinds with minimal impact on financial results, emphasizing the strength of the balance sheet with over $100 million in cash [6][68] - The company remains optimistic about long-term industry fundamentals despite recognizing near-term uncertainties [12][68] Other Important Information - The company expects adjusted gross margin for the full year to be in the mid-60s, with a reduction in GAAP net loss and expansion in adjusted EBITDA margin due to higher expected revenue [18] - The company has a cash and marketable securities balance of $107.6 million as of March 31, 2025 [16] Q&A Session Summary Question: Insights on clinical side demand trends - Management noted that clinical customers buying directly showed reasonable performance, with growth driven primarily by commercial customers [21][22] Question: Rationale behind Panthera acquisition - The acquisition was timed to leverage proven technology and enhance the development of next-generation cryopreservation products [24][26] Question: Current status of pricing changes - Management indicated that they are more than halfway through pricing adjustments for key customers, with a gradual implementation over three years [31][32] Question: Impact of tariffs and NIH funding - Management assessed that they have limited exposure to tariffs and NIH funding cuts, with most products manufactured in the U.S. [37][39] Question: Future M&A pipeline - The company is exploring small tuck-in acquisitions similar to Panthera, with a strict filter criteria for potential targets [32][33] Question: Incremental OpEx from Panthera acquisition - Expected incremental OpEx from the Panthera acquisition is around $1 million for the remaining nine months of the year [60]

Core Viewpoint - BioLife Solutions, Inc. is a prominent player in the cell and gene therapy market, focusing on the development and supply of cell processing tools and services [2]. Group 1: Company Overview - BioLife Solutions specializes in providing solutions that ensure the health and functionality of biological materials throughout their lifecycle, including collection, development, manufacturing, and distribution [2]. - The company is publicly traded on Nasdaq under the ticker symbol BLFS [1]. Group 2: Earnings Call Information - BioLife Solutions has announced corrected call-in numbers for their upcoming Earnings Call scheduled for May 8, 2025, at 4:30 PM ET [1]. - The call-in number for participants in the United States is 1-833-630-0431, while international participants can dial 1-412-317-1808 [1].