BioLife Solutions(US:BLFS)2025-11-06 21:17Revenue Performance - Total revenue for the three months ended September 30, 2025, was $28.1 million, representing a 31% increase compared to $21.4 million for the same period in 2024[190]. - Product revenue for the three months ended September 30, 2025, was $26.3 million, an increase of $6.3 million, or 32%, compared to the same period in 2024[191]. - Cell processing product revenue increased by $6.3 million, or 33%, during the three months ended September 30, 2025, driven by increased customer demand for commercially approved therapies[192]. - Rental revenue for the three months ended September 30, 2025, was $1.8 million, representing a 24% increase compared to $1.4 million for the same period in 2024[197]. - Total revenue for the nine months ended September 30, 2025, was $77.4 million, a 30% increase from $59.5 million for the same period in 2024[190]. - Product revenue from cell processing products increased by $16.6 million, or 31%, during the nine months ended September 30, 2025, compared to the same period in 2024[193]. - Product revenue from evo and Thaw products increased by $0.9 million, or 54%, during the nine months ended September 30, 2025, compared to the same period in 2024[195]. - Service revenues were immaterial during the three and nine months ended September 30, 2025, and 2024[196]. Operating Expenses - Total operating expenses increased by $6.3 million, or 29%, for the three months ended September 30, 2025, and by $30.8 million, or 48%, for the nine months ended September 30, 2025 compared to the same periods in 2024[199]. - Cost of product, rental, and service revenue rose by $2.7 million, or 37%, for the three months ended September 30, 2025, and by $7.2 million, or 36%, for the nine months ended September 30, 2025 compared to the same periods in 2024[200]. - General and administrative expenses increased by $2.7 million, or 29%, for the three months ended September 30, 2025, and by $5.9 million, or 20%, for the nine months ended September 30, 2025 compared to the same periods in 2024[204][205]. - Research and development expenses increased by $0.8 million, or 43%, for the three months ended September 30, 2025, and by $1.6 million, or 27%, for the nine months ended September 30, 2025 compared to the same periods in 2024[209][210]. Financial Position - The company had $98.4 million in cash, cash equivalents, and available-for-sale securities as of September 30, 2025, down from $109.2 million at the end of 2024[216]. - The company believes its current level of cash and liquid assets will be sufficient to meet liquidity needs for at least the next twelve months[223]. - Net cash provided by operating activities increased to $15.2 million for the nine months ended September 30, 2025, up from $6.8 million in the same period of 2024, reflecting stronger revenues and improved working capital management[225]. - Net cash used in investing activities rose to $72.7 million for the nine months ended September 30, 2025, compared to $15.3 million in 2024, primarily due to $61.4 million in additional purchases of marketable securities[226]. - The company invested $10.2 million in the acquisition of PanTHERA during the nine months ended September 30, 2025, which was $2.8 million less than the cash used for the divestiture of Global Cooling in Q2 2024[227]. - Net cash used in financing activities totaled $8.4 million for the nine months ended September 30, 2025, compared to $2.7 million in 2024, driven by a $7.5 million increase in Term Loan payments[228]. - As of September 30, 2025, the company's total short-term purchase obligations amounted to $7.4 million[230]. - The company does not use derivative financial instruments in its investment portfolio, and fluctuations in interest rates have not materially impacted its consolidated financial statements[234]. Strategic Actions - The divestiture of SAVSU was completed on October 6, 2025, and is presented as part of continuing operations as of September 30, 2025[181]. - The company continues to evaluate opportunities for organic growth innovations, partnerships, and acquisitions to maximize the value of its product platforms[180]. - The company entered into the SAVSU Purchase Agreement for an aggregate purchase price of $25.5 million on October 6, 2025[217]. - The PanTHERA Transaction was completed on April 4, 2025, with an aggregate purchase price of $16.8 million, including $11.5 million in cash[218]. - The company received net proceeds of $71.3 million from the SciSafe Divestiture on November 12, 2024[221]. Interest Income - Interest income increased by $0.7 million, or 321%, for the three months ended September 30, 2025, and by $2.6 million, or 369%, for the nine months ended September 30, 2025 compared to the same periods in 2024[213][215].