BioLife Solutions(US:BLFS)2025-05-08 20:10Revenue 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]