BioLife Solutions Announces Preliminary Fourth Quarter and Full Year 2024 Unaudited Revenue from Continuing Operations

Core Insights - BioLife Solutions reported a 7% sequential increase in fourth quarter Cell Processing revenue, reaching $20.3 million, and a full year revenue of $73.5 million, exceeding the high end of previously raised guidance [1][2][8] - The company experienced its fifth consecutive quarter of sequential revenue growth in the Cell Processing platform, indicating strong operational execution and strategic focus [2][8] - The divestiture of its freezer and biostorage businesses has streamlined operations, allowing BioLife to concentrate on its core competencies in the cell and gene therapy market [2][4] Financial Performance - Preliminary unaudited revenue for the fourth quarter of 2024 was $22.7 million, a 31% increase from $17.4 million in the same quarter of 2023 [8] - For the full year 2024, total revenue was $82.3 million, reflecting an 8% increase from $75.9 million in 2023 [8] - The Cell Processing platform revenue for 2024 was $73.5 million, up 12% from the previous year, while the Evo and Thaw platform revenue decreased by 14% to $8.7 million [8] Strategic Focus - The company emphasizes its role in biopreservation solutions, which are embedded in 17 approved therapies, highlighting its importance in enabling lifesaving therapies [2] - Looking ahead to 2025, BioLife aims to leverage its strong balance sheet and core business momentum to achieve sustainable growth and profitability [2]