Revenue Performance - Total revenue for the three months ended March 31, 2025, was $23.9 million, representing a 30% increase from $18.4 million in the same period in 2024[154]. - Product revenue increased by $5.6 million, or 33%, to $22.3 million for the three months ended March 31, 2025, driven by increased customer demand for cell processing products[155]. - Cell processing product revenue rose by $5.4 million, or 33%, during the three months ended March 31, 2025, compared to the same period in 2024, due to market improvement and increased purchases from major customers[156]. - Service revenue was immaterial during the three months ended March 31, 2025, with rental revenue decreasing by $0.1 million, or 5%, to $1.6 million compared to the same period in 2024[158][159]. Operating Expenses - Total operating expenses for the three months ended March 31, 2025, were $25.2 million, an increase of $3.4 million, or 16%, from $21.7 million in the same period in 2024[160]. - General and administrative expenses increased by $1.1 million, or 11%, primarily due to professional fees related to the acquisition of PanTHERA[164]. Interest and Cash Position - Interest income for the three months ended March 31, 2025, was $681,000, a significant increase of $821,000 compared to a net interest expense of $140,000 in the same period in 2024[169][170]. - As of March 31, 2025, the company had $107.6 million in cash, cash equivalents, and available-for-sale securities, a slight decrease from $109.2 million as of December 31, 2024[171]. Divestitures and Acquisitions - The company divested its Global Cooling and SciSafe businesses, which are now presented as discontinued operations in the financial statements[146][147]. - The acquisition of PanTHERA was finalized on April 4, 2025, and is considered a subsequent event to the financial results presented as of March 31, 2025[150]. - The Global Cooling Divestiture was completed on April 17, 2024, involving cash funding of $6.7 million and additional cash expenditures of $6.1 million related to post-closing requirements and severance expenses for 47 employees[172]. - The SciSafe Divestiture was finalized on November 12, 2024, generating net proceeds of $71.3 million, with additional expenses of $0.5 million for transaction services and $4.0 million in stock compensation[173]. - The CBS Divestiture was completed on November 14, 2024, resulting in net proceeds of $3.4 million and $2.0 million in stock compensation expenses for former employees[174]. - The acquisition of PanTHERA was finalized on April 4, 2025, with a total purchase price of $22.7 million, including $10.0 million in cash and contingent stock payments of $7.2 million[176]. Cash Flow and Liquidity - Net cash provided by operating activities was $1.7 million for the three months ended March 31, 2025, a significant improvement from $4.5 million used in the same period in 2024[179]. - Net cash used in investing activities increased to $27.2 million for the three months ended March 31, 2025, primarily due to $24.0 million in additional purchases of marketable securities[180]. - Net cash used in financing activities totaled $3.0 million for the three months ended March 31, 2025, compared to $1.0 million in the same period in 2024, driven by a $2.5 million increase in Term Loan payments[181]. - As of March 31, 2025, total short-term purchase obligations amounted to $10.0 million[183]. - The company believes its current cash and liquid assets will meet liquidity needs for at least the next twelve months, but may consider raising additional capital for strategic purposes[177]. - The company’s long-term debt primarily bears interest at a fixed rate, with fluctuations in interest rates not materially impacting financial statements[184].

Revenue Performance - Cell Processing revenue for Q1 2025 was $21.6 million, representing a 33% increase compared to Q1 2024[1] - Total revenue for Q1 2025 was $23.9 million, up $5.5 million or 30% from $18.4 million in Q1 2024[11] - Total revenues for the three months ended March 31, 2025, increased to $23,941,000, up from $18,433,000 in the same period of 2024, representing a growth of 30.4%[31] - BioLife Solutions affirms its 2025 revenue guidance of $95.5 million to $99.0 million, indicating growth of 16% to 20% compared to 2024[13] Profitability Metrics - GAAP gross margin for Q1 2025 was 63%, consistent with Q1 2024, while non-GAAP adjusted gross margin was 66%[7] - Adjusted EBITDA for Q1 2025 was $5.7 million, or 24% of revenue, compared to $2.6 million, or 14% of revenue, in Q1 2024[12] - Adjusted net income from continuing operations for Q1 2025 was $1,675,000, compared to a loss of $2,257,000 in Q1 2024, indicating a significant improvement[35] - Adjusted EBITDA from continuing operations for Q1 2025 was $5,724,000, representing 24% of revenue, compared to $2,595,000 or 14% of revenue in Q1 2024[36] Net Loss and Cash Flow - The net loss from continuing operations for Q1 2025 was $0.4 million, significantly improved from a net loss of $3.2 million in Q1 2024[9] - The company reported a net cash provided by operating activities of $1,727,000 for Q1 2025, a turnaround from a cash used of $4,475,000 in Q1 2024[30] Assets and Liabilities - Total cash, cash equivalents, restricted cash, and marketable securities at the end of Q1 2025 amounted to $107,635,000, compared to $46,126,000 at the end of Q1 2024[30] - The company’s accumulated deficit increased slightly to $(335,549,000) as of March 31, 2025, from $(335,101,000) at the end of 2024[28] - The company’s total assets as of March 31, 2025, were $395,141,000, a slight decrease from $399,487,000 at the end of 2024[28] - Current liabilities decreased to $27,723,000 as of March 31, 2025, down from $32,734,000 at the end of 2024[28] Operational Highlights - The company processed 13 new U.S. FDA Master File cross references for biopreservation media, bringing the total to 782[4] - BioLife's biopreservation media is now embedded in 17 unique commercial CGTs, with expectations for 10 additional product approvals in the next 12 months[4] - The acquisition of PanTHERA CryoSolutions was completed on April 4, 2025, enhancing BioLife's capabilities in cryopreservation solutions[4] - The company expects gross margin in the low 60% range and adjusted gross margin in the mid-60% range for 2025[13] Operating Expenses - Operating expenses from continuing operations for Q1 2025 were $25,159,000, up from $21,728,000 in Q1 2024[33]

Core Insights - BioLife Solutions, Inc. reported a strong start to 2025 with a 33% year-over-year growth in cell processing revenue, reaching $21.6 million [1][2] - The company achieved a GAAP gross margin of 63% and a non-GAAP adjusted gross margin of 66% for Q1 2025, consistent with the same period in 2024 [5] - The net loss from continuing operations was reduced to $0.4 million in Q1 2025, compared to $3.2 million in Q1 2024, indicating improved financial performance [10][11] Financial Performance - Total revenue for Q1 2025 was $23.9 million, a 30% increase from $18.4 million in Q1 2024 [8] - Adjusted EBITDA for Q1 2025 was $5.7 million, representing 24% of revenue, up from $2.6 million or 14% of revenue in Q1 2024 [12] - The operating loss from continuing operations decreased to $1.2 million in Q1 2025 from $3.3 million in Q1 2024 [6][29] Business Highlights - The company processed 13 new U.S. FDA Master File cross references for its biopreservation media, bringing the total to 782 [7] - BioLife's biopreservation media is now embedded in 17 unique commercial cell and gene therapies, with expectations for further approvals and geographic expansions [7] - The acquisition of PanTHERA CryoSolutions was completed on April 4, 2025, enhancing BioLife's capabilities in the biopreservation market [7] Guidance and Outlook - BioLife Solutions affirmed its 2025 revenue guidance of $95.5 million to $99.0 million, reflecting a growth of 16% to 20% compared to 2024 [13] - The company anticipates maintaining gross margins in the low 60% range and adjusted gross margins in the mid-60% range for 2025 [13]

Core Viewpoint - BioLife Solutions, Inc. is set to release its first quarter 2025 financial results on May 8, 2025, after market close, followed by a conference call and live webcast to discuss the results and provide a business update [1]. Group 1: Financial Results Announcement - The financial results for the first quarter of 2025 will be announced after market close on May 8, 2025 [1]. - A conference call and live webcast will take place at 4:30 PM ET (1:30 PM PT) on the same day [1]. Group 2: Accessing the Webcast - Investors can access the webcast through the Investor Relations page of the BioLife Solutions website [2]. - The conference call can be joined by dialing 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 3: Company Overview - BioLife Solutions is a leading developer and supplier of bioproduction products and services for the cell and gene therapy (CGT) market [3]. - The company specializes in maintaining the health and function of biologic materials during various stages including collection, development, storage, and distribution [3].

Strategic acquisition enhances biopreservation media portfolio with novel Ice Recrystallization Inhibitor technologyMarks the second acquisition from Bioproduction Innovation Accelerator programBOTHELL, Wash., April 7, 2025 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS) ("BioLife" or the "Company"), a leading developer and supplier of bioproduction products and services for the cell and gene therapy ("CGT") market, today announced the acquisition of privately-held PanTHERA CryoSolutions, Inc., ("Pan ...

Core Insights - The article introduces Colum Manning as a new contributing analyst for Seeking Alpha, highlighting his background in Economics and Biomedical Engineering, and his interest in finance and investment, particularly in the Venture Capital field focused on Biotech and Healthcare sectors [2]. Group 1 - The analyst aims to identify unique investment opportunities within the Biotech, Healthcare, and Life Sciences industries that can yield returns for readers [2]. - Manning emphasizes the importance of continuous learning in investing, mentioning his engagement with financial news sources like the Wall Street Journal and Bloomberg to stay updated on market trends [2]. - The article reflects a commitment to articulate investment views compellingly, indicating a focus on thorough analysis and communication of insights [2].

Core Viewpoint - The U.S. stock market showed slight gains on March 21, 2025, as investors reacted to the Federal Reserve's stable interest rate projections amidst concerns over President Trump's import tariffs [1] Group 1: Stock Market Overview - The majority of U.S. stock indices ended slightly positive, overcoming recent declines [1] - Investor sentiment remains cautious due to potential long-term economic impacts from enhanced import tariffs [1] - The Federal Reserve's unchanged interest rate cut projections contributed to a sense of economic stability [1] Group 2: Investment Strategy - Investors are encouraged to consider low-leverage stocks to mitigate risks during market volatility [2][6] - Recommended low-leverage stocks include BioLife Solutions (BLFS), Wildan Group (WLDN), Nextracker Inc. (NXT), Novo Nordisk (NVO), and EZCORP (EZPW) [2] - These stocks are characterized by low debt levels, making them safer options during economic downturns [2][5] Group 3: Understanding Leverage - Leverage refers to the practice of borrowing capital for operations and expansion, typically through debt financing [4] - Excessive debt financing can lead to significant losses, making low-leverage stocks preferable for risk-averse investors [5][6] - The debt-to-equity ratio is a common metric used to assess a company's financial risk, with lower ratios indicating better solvency [7] Group 4: Stock Selection Criteria - Stocks should have a debt-to-equity ratio lower than the industry median, a current price of at least $10, and an average 20-day trading volume of 50,000 or more [11] - Additional criteria include positive earnings growth expectations and a strong Zacks Rank [12] Group 5: Company Highlights - **BioLife Solutions (BLFS)**: Reported a 31% year-over-year revenue increase and a narrowing adjusted operating loss of $746 million [13][14] - **Wildan Group (WLDN)**: Secured a $17.7 million contract, with a projected earnings improvement of 13.2% year-over-year [15][16] - **Nextracker Inc. (NXT)**: Achieved a backlog of over $4.5 billion and a 7.3% year-over-year increase in adjusted earnings per share [17][18] - **Novo Nordisk (NVO)**: Announced positive results from a phase 3 trial, with a long-term earnings growth rate of 24.2% [19][20] - **EZCORP (EZPW)**: Reported a 14% year-over-year increase in adjusted net income and a 7% revenue growth [21]

Core Insights - BioLife Solutions, Inc. has appointed Cathy Coste to its board of directors, increasing the total board membership to seven [1] - Ms. Coste will serve as chair of the audit committee, succeeding Joydeep Goswami, who will remain a director and member of the audit committee [1] Company Overview - BioLife Solutions is a leading developer and supplier of bioproduction tools and services specifically for the cell and gene therapy (CGT) market [4] - The company focuses on maintaining the health and function of biologic materials during their collection, development, storage, and distribution [4] Leadership and Expertise - Cathy Coste brings over four decades of experience as a senior executive, with a strong background in audits, risk and controls, and compliance [2] - She has worked with more than two dozen life sciences companies during her tenure at Deloitte and has extensive experience in governance initiatives and strategic planning [2][3] - Ms. Coste has served as a director and audit committee chair for multiple companies, including Biomerica, Inc., Minerva Surgical, Inc., and Renalytix plc [3] Future Outlook - Ms. Coste expressed optimism about BioLife's position for revenue growth and sustained profitability following its transition to a pure-play enabler of cell and gene therapies [2]

Company Overview - The company operates as a life sciences entity focused on bioproduction products and services for the cell and gene therapy industry[182]. - The current portfolio includes two revenue lines: cell processing and Evo/ThawSTAR devices, with offerings such as biopreservation media and automated thawing systems[183]. - The company divested its Global Cooling, SciSafe, and CBS businesses, which are now classified as discontinued operations[184][185][186]. Financial Performance - Total revenue for the year ended December 31, 2024, was $82.3 million, an increase of $6.4 million, or 8%, compared to 2023[212]. - Product revenue increased to $76.0 million in 2024, up $7.1 million, or 10%, primarily driven by a $7.7 million, or 12%, increase in cell processing products[213]. - Evo and thaw product line experienced a revenue decrease of $0.6 million, or 19%, in 2024 compared to 2023, attributed to lower volumes of consumable products sold[214]. - Rental revenue for 2024 was $6.1 million, a decrease of $0.5 million, or 7%, compared to 2023, due to a reduction in fleet size from the largest customer[217]. - The net loss for 2024 was $20,184,000, compared to a net loss of $68,002,000 in 2023, representing a significant improvement[293]. - Comprehensive loss for 2024 was $20,202 thousand, compared to $67,668 thousand in 2023, reflecting a decrease of about 70%[296]. Expenses and Cost Management - Total operating expenses decreased by $9.9 million, or 10%, in 2024, totaling $89.4 million compared to $99.3 million in 2023[219]. - Cost of product, rental, and service revenue decreased by $1.3 million, or 4%, in 2024, attributed to a decrease in supply expenses and increased operational efficiencies[220]. - General and administrative expenses decreased by $2.7 million, or 6%, in 2024, primarily due to lower severance and consulting expenses[225]. - Research and development expenses decreased by $4.2 million, or 34%, in 2024, mainly due to reductions in personnel and severance costs[231]. Cash Flow and Liquidity - Cash and cash equivalents increased to $95.4 million in 2024, a 242% rise from $27.9 million in 2023[247]. - Total cash, cash equivalents, and available-for-sale securities reached $109.2 million as of December 31, 2024, up 144% from $44.7 million in 2023[246]. - The company generated $58.3 million in cash from investing activities in 2024, significantly higher than $17.8 million in 2023[255]. - Operating activities provided cash of $8.4 million in 2024, a turnaround from cash used of $12.5 million in 2023[251]. Tax and Valuation - As of December 31, 2024, the company recorded U.S. federal net operating loss carryforwards of approximately $165.2 million, with $38.7 million expiring between 2025 and 2037[209]. - A full valuation allowance on deferred tax assets was recorded as of December 31, 2024, due to cumulative losses and forecasted near-term losses[206]. - The company has an unrecognized tax benefit of $1.2 million related to tax attributes being carried forward as of December 31, 2024[208]. Divestitures and Acquisitions - The company recognized $71.3 million in net proceeds from the SciSafe divestiture and $3.4 million from the CBS divestiture in 2024[244][245]. - The company completed the sale of Global Cooling in Q2 2024 and the sales of CBS and SciSafe in Q4 2024, optimizing its product portfolio towards higher margin revenue streams[368]. - The Company incurred a net loss of $8.9 million on the disposal of Global Cooling, which included $6.7 million in cash funded by the Company and $2.6 million in assumed liabilities[371]. Shareholder Equity and Stock - The company’s total shareholders' equity at the end of 2024 was $348,909 thousand, an increase from $337,663 thousand in 2023[299]. - The company issued 1,649,290 shares of common stock in 2024, increasing total common stock shares to 46,906,765[299]. - Basic and diluted loss per share from continuing operations for 2024 was $(0.25), compared to $(0.42) in 2023[324]. Internal Controls and Compliance - The company identified a material weakness in internal control over financial reporting as of December 31, 2024[281]. - The company is currently evaluating the effects of recently issued accounting standards on its consolidated financial statements, including ASU 2024-03 and ASU 2023-09[358][360].

Financial Data and Key Metrics Changes - Total revenue for 2023 was $143.3 million, an 11% decrease compared to 2022, with ex-COVID revenue decreasing 4% [36] - Q4 revenue was $32.7 million, representing a 26% year-over-year decrease, and a 23% decline when excluding COVID-related revenue from Q4 2022 [41] - Adjusted EBITDA for Q4 2023 was $700,000, down from $1.7 million in the prior year, but increased sequentially by $3.8 million from Q3 [60] Business Line Data and Key Metrics Changes - Cell processing platform revenue for 2023 declined 4% to $65.8 million, while biopreservation media revenue decreased by 6% [36] - Freezer and thaw platform revenue declined 23% or $15.1 million from 2022, primarily due to a difficult capital equipment environment [37] - Biostorage and services platform revenue for Q4 was $6.6 million, a decrease of 1% year-over-year, but increased 26% when excluding COVID-related revenue [42] Market Data and Key Metrics Changes - The top 20 media customers accounted for 78% of media revenue in 2023, up slightly by 1% year-over-year [31] - Distributors accounted for 40% of total media revenue in 2023, compared to 38% in 2022 [31] - The company estimates that its biopreservation media is embedded in more than 70% of over 230 active US commercially sponsored clinical trials [39] Company Strategy and Development Direction - The company is divesting its freezer product lines to refocus on higher-margin recurring revenue streams [29][35] - The company expects to close the divestiture transactions within the next 45 to 60 days, which will improve overall financial performance and margin profile [32][37] - The company aims to leverage its market position in biopreservation media to drive adoption of other tools and services in its portfolio [120] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding improving market conditions in the second half of 2024, despite a challenging environment in 2023 [40][46] - The company anticipates 2024 revenue guidance to range from $95.5 million to $100 million, reflecting an overall growth of 2% to 7% [61] - Management noted that macro headwinds may be subsiding, with early signs of stabilization in the CGT industry [30][35] Other Important Information - The company reported a GAAP net loss of $13.4 million in Q4, with adjusted operating loss of $9.3 million [44] - Cash and marketable securities balance at December 31, 2023, was $52.3 million, up from $42.2 million at September 30, 2023 [45] - The company is currently consolidating its two Boston area facilities, expected to save approximately $0.5 million in annual operating costs [56] Q&A Session Summary Question: Confidence in freezer sale completion - Management expressed 75% to 80% confidence that the freezer sales will be completed within the expected timeframe [20][21] Question: Steps taken to achieve positive EBITDA - Management highlighted a reduction in force, increased self-processing revenue, and control over discretionary expenses as key steps [14] Question: Potential revenue from cell and gene therapies - Management explained that revenue growth from new therapies will depend on ramp-up periods and the nature of approvals [16][17] Question: Media revenue growth expectations - Management indicated that media revenue is expected to grow in the second half of the year, with a focus on understanding customer needs [23][80] Question: Impact of freezer business on adjusted EBITDA - Management noted that the freezer business had a significant impact on adjusted EBITDA, but specific figures were not disclosed [69][101]