Financial Data and Key Metrics Changes - In Q3 2025, total revenue increased by 31% year-over-year to $28.1 million, driven by a 33% increase in cell processing revenue [4][12] - Adjusted EBITDA margin expanded by 500 basis points year-over-year to 28%, reflecting improved profitability [4][14] - GAAP net income was $621,000 or $0.01 per share, compared to a net loss of $471,000 or $0.01 per share in the prior year [14] Business Line Data and Key Metrics Changes - Cell processing revenue reached $25.4 million, a 33% year-over-year increase, with biopreservation media products representing over 80% of total cell processing revenue [6][12] - The direct versus distributor sales mix shifted to approximately 70/30, indicating a stronger focus on direct sales [7] Market Data and Key Metrics Changes - BioLife's biopreservation media products were embedded in 16 approved therapies and utilized in over 250 relevant commercially sponsored CGT clinical trials in the U.S., representing over a 70% market share [9] - The company is involved in more than 30 phase III trials, where its share is nearly 80%, highlighting its market leadership [9] Company Strategy and Development Direction - The sale of the Evo Cold Chain Logistics product line for approximately $25.5 million allows the company to focus on its core competencies and operational strengths [5] - The company aims to explore inorganic growth opportunities while maintaining a disciplined approach to capital allocation [36][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustainable revenue growth and margin expansion due to the strong performance of commercial customers and late-stage clinical programs [11][54] - The company raised its full-year 2025 revenue guidance to $95-$96 million, reflecting a growth rate of 27%-29% on a like-for-like basis [17] Other Important Information - Cash and marketable securities balance as of September 30, 2025, was approximately $98.4 million, slightly down from $100.2 million as of June 30, 2025 [15] - 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 compared to 2024 [18] Q&A Session Summary Question: What is the pricing outlook for the upcoming years? - Management anticipates a price increase of 4% to 6% in 2026, with year-to-date pricing growth higher than list price increases due to customer contract negotiations [22][23] Question: What is the status of direct sales headcount? - The company has added one sales representative focused on cross-selling, bringing the total to about six, with plans to potentially add more in 2026 [24][25] Question: How is the company viewing the funding environment for biotech? - Management noted that commercial customers are expected to drive growth, with a robust clinical pipeline supporting this outlook [28][29] Question: Are there any lingering costs from the Evo platform? - There are no lingering operational expenses from the Evo platform, and the Q3 results serve as a good baseline for Q4 [36] Question: What are the capital allocation plans post-Evo sale? - The company is interested in exploring adjacent opportunities that align with its core competencies while being disciplined in its approach to avoid negatively impacting its financial profile [37][38]