Core Viewpoint - BioLife Solutions, Inc. has sold its biostorage subsidiary SciSafe Holdings, Inc. for $73 million in cash, marking a strategic shift towards proprietary, higher-margin cell processing products and enhancing its balance sheet [1][2]. Group 1: Transaction Details - The sale of SciSafe generated approximately $10.4 million in revenue for the six months ended June 30, 2024 [1]. - BioLife acquired SciSafe in October 2020 for $39 million, and the current sale represents a solid return for shareholders [2]. - The transaction was facilitated by Stephens Inc. as the financial advisor and K&L Gates LLP as legal counsel [3]. Group 2: Management Changes - Following the divestiture, Todd Berard will take on the role of Chief Commercial Officer, overseeing all sales and marketing functions [2]. - Garrie Richardson, previously the Chief Revenue Officer at BioLife, will become the CEO of the now-independent SciSafe [3]. Group 3: Company Overview - BioLife Solutions specializes in developing and supplying cell processing tools and services for the cell and gene therapy market, focusing on maintaining the health and function of biologic materials [4].

BOTHELL, Wash., Oct. 31, 2024 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS), a leading developer and supplier of bioproduction products and services for the cell and gene therapies ("CGT") and broader biopharma markets, today announced the Company's third quarter 2024 financial results will be released after market close on Tuesday, November 12, 2024. The Company will host a conference call and live webcast at 4:30pm ET (1:30pm PT) that day. Management will provide an overview of the Company's fina ...

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The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has BioLife Solutions, Inc. (BLFS) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question. BioLife Solutions, Inc. is one of 1019 companies in the Medical group. The Medical group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank in ...

Financial Data and Key Metrics Changes - The company reported Q2 revenue from continuing operations of $28.3 million, a decrease of 3% year-over-year, primarily due to a 4% decrease in the cell processing platform [15] - Total revenue increased sequentially from Q1 2024 by $1.5 million or 6%, driven by an 11% sequential increase in cell processing revenue [15][17] - Adjusted gross margin for Q2 was 52%, up from 45% in the prior year, attributed to product mix and operational efficiencies [15][17] - Adjusted EBITDA for Q2 was $4.8 million or 17% of revenue, compared to $1.7 million or 6% of revenue in the prior year [17] Business Line Data and Key Metrics Changes - Cell processing revenue increased 11% sequentially to $18 million in Q2 from $16.1 million in Q1 [10] - The biopreservation media revenue is a fundamental driver of growth, with the company holding over 70% market share in commercially sponsored clinical trials in the U.S. [8] - Distributor sales represented approximately 35% of biopreservation media revenue, indicating a recovery in the earlier-stage research market segment [11] Market Data and Key Metrics Changes - The company noted easing industry-wide headwinds that began late last year, contributing to improved revenue performance [5] - The CGT regulatory environment showed forward momentum with new indications and treatments approved, enhancing the market outlook [8] Company Strategy and Development Direction - The company is focusing on streamlining its business and divesting from lower-margin freezer products to enhance profitability [7] - A two-pronged growth strategy for the cell processing platform includes maintaining market share and leveraging relationships for cross-selling [12][13] - The company aims to capitalize on the growing CGT industry by providing premium biopreservation tools and services [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the macro environment for bioproduction, anticipating continued revenue growth in the second half of 2024 [4][5] - The company expects to achieve a total revenue of $99 million to $101 million for the full year, reflecting a growth of 5% to 8% [18] - Management highlighted the importance of the divestiture of lower-margin products to improve overall margins and operational efficiency [16][18] Other Important Information - The company divested its GCI or Stirling Freezer unit, positively impacting Q2 financial results [7] - Cash and marketable securities balance was $36.9 million at June 30, 2024, down from $46.1 million at the end of Q1 2024 [17] Q&A Session Summary Question: Any one-time benefits in cell processing in the quarter? - Management indicated that while there was a strong quarter in HPL, they do not expect it to repeat in the second half of the year [20] Question: Insights on product portfolio review? - Management stated that they have been focusing on streamlining the cell processing platform and will provide updates in future calls [21] Question: Commentary on funding environment and its impact? - Management noted that direct customers with commercial therapies are well-funded, while distribution revenue has seen solid growth [24] Question: Comfort with 20% plus exit rate for EBITDA margins? - Management remains committed to this target, citing media growth and the divestiture of CBS as key factors [28][29] Question: Validation process for CryoCase? - Early interest has been noted, but adoption timelines are uncertain as clients go through their validation protocols [31] Question: Impact of CBS divestiture on EBITDA margins? - Management indicated that the divestiture would allow for the removal of low-margin operational expenses [41]

Table of Contents ____________________________________________________ Title of each class Trading symbol Name of exchange on which registered Common stock, par value $0.001 per share BLFS The NASDAQ Stock Market, LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ____________________________________________________ FORM 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 o TRANSITION REPORT PURSUA ...

BioLife Solutions, Inc. (BLFS) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.14. This compares to loss of $0.23 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 57.14%. A quarter ago, it was expected that this company would post a loss of $0.26 per share when it actually produced a loss of $0.19, delivering a surprise of 26.92%. Over the last four quarters, the company ha ...

3303 Monte Villa Parkway, Suite 310 | Bothell, WA 98021 USA | 866.424.6543 phone | BioLifeSolutions.com BioLife Solutions Reports Second Quarter 2024 Financial Results Cell Processing revenue increased 11% sequentially to $18.0 million GAAP gross margin of 51% and non-GAAP adjusted gross margin of 52% GAAP net loss from continuing operations of $7.1 million and non-GAAP adjusted EBITDA of $4.8 million or 17% Raising full-year 2024 total revenue guidance to $99.0 million to $101.0 million; Cell Processing re ...

Cell Processing revenue increased 11% sequentially to $18.0 million GAAP gross margin of 51% and non-GAAP adjusted gross margin of 52% GAAP net loss from continuing operations of $7.1 million and non-GAAP adjusted EBITDA of $4.8 million or 17% Raising full-year 2024 total revenue guidance to $99.0 million to $101.0 million; Cell Processing revenue guidance increased to $70.0 million to $71.0 million Conference call begins at 4:30 p.m. Eastern time today BOTHELL, Wash., Aug. 8, 2024 /PRNewswire/ -- BioLife S ...

BOTHELL, Wash., July 25, 2024 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS), a leading supplier of class-defining bioproduction tools and services for the cell and gene therapies ("CGT") and broader biopharma markets, today announced the Company's second quarter 2024 financial results will be released after market close on Thursday, August 8, 2024. The Company will host a conference call and live webcast at 4:30pm ET (1:30pm PT) that day. Management will provide an overview of the Company's financi ...