Core Viewpoint - The article emphasizes the importance of confirming the sustainability of stock trends for successful short-term investing, highlighting that price movements should be supported by strong fundamentals and positive earnings estimates [1][2]. Group 1: Stock Performance - BioLife Solutions, Inc. (BLFS) has shown a solid price increase of 18.4% over the past 12 weeks, indicating investor confidence in its potential upside [4]. - The stock has also maintained a price increase of 3.2% over the last four weeks, suggesting that the upward trend is still intact [5]. - Currently, BLFS is trading at 87.7% of its 52-week high-low range, indicating a potential breakout opportunity [5]. Group 2: Fundamental Strength - BLFS holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, which are critical for near-term price movements [6]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [7]. Group 3: Investment Strategy - The article suggests using the "Recent Price Strength" screen to identify stocks like BLFS that are on an uptrend supported by strong fundamentals [3]. - It also mentions that there are over 45 Zacks Premium Screens available for investors to find stocks that align with their investment strategies [8].

Group 1 - BioLife Solutions, Inc. (BLFS) has shown strong year-to-date performance, returning 56.7%, significantly outperforming the Medical sector average return of 12.1% [4] - The Zacks Consensus Estimate for BLFS's full-year earnings has increased by 18.1% over the past 90 days, indicating improving analyst sentiment and a positive earnings outlook [4] - BioLife Solutions, Inc. holds a Zacks Rank of 2 (Buy), suggesting it has characteristics favorable for outperforming the market in the near term [3] Group 2 - BioLife Solutions, Inc. is part of the Medical - Products industry, which consists of 88 stocks and currently ranks 65 in the Zacks Industry Rank, with an average gain of 15.9% this year [6] - In comparison, Sensus Healthcare, Inc. (SRTS), another stock in the Medical sector, has achieved a year-to-date return of 159.3% and has a Zacks Rank of 2 (Buy) [5] - The Medical - Instruments industry, which includes Sensus Healthcare, has returned +10.2% since the beginning of the year and consists of 85 stocks, currently ranked 63 [7]

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]

Revenue Performance - Total revenue for Q2 2024 was $28.3 million, a decrease of $0.9 million, or 3%, compared to Q2 2023, with a total revenue of $29.2 million[127]. - Product revenue for Q2 2024 was $21.3 million, representing a decrease of $1.5 million, or 6%, compared to Q2 2023[128]. - Cell processing product revenue decreased by $0.7 million, or 4%, in Q2 2024 compared to Q2 2023, driven by customer destocking and reduced biotech funding[129]. - Biostorage services revenue decreased by $0.4 million, or 72%, in Q2 2024 compared to Q2 2023, attributed to lower volumes of consumables sold[130]. - Service revenue increased by $0.3 million, or 6%, in Q2 2024 compared to Q2 2023, primarily from the expansion of SciSafe storage services[132]. - Rental revenue increased by $0.3 million, or 14%, in Q2 2024 compared to Q2 2023, associated with the expansion of new customers[133]. Cost and Expense Management - Total costs and operating expenses for Q2 2024 were $31.1 million, a decrease of $8.7 million, or 22%, compared to Q2 2023[134]. - General and administrative expenses decreased by $2.6 million, or 20%, in Q2 2024 compared to Q2 2023, primarily due to lower professional fees and headcount[136]. - Research and development expenses decreased by $1.4 million, or 37%, in Q2 2024 compared to Q2 2023, mainly due to reduced headcount and lower milestone payments[138]. Cash Flow and Liquidity - The company reported a net cash provided by operating activities of $2.0 million for the six months ended June 30, 2024, compared to a net cash used of $10.4 million in the same period of 2023, indicating a significant improvement of $12.4 million[148]. - The company had $36.9 million in cash, cash equivalents, and available-for-sale securities as of June 30, 2024, down from $50.2 million at the end of 2023[144]. - The company’s liquidity is expected to meet its needs for at least the next twelve months based on current cash levels and revenue expectations[146]. Investment and Financing Activities - Net cash used by investing activities totaled $13.7 million for the six months ended June 30, 2024, compared to $12.2 million provided in the same period of 2023, reflecting a decrease of $25.9 million[149]. - Interest expense, net for the six months ended June 30, 2024, was $(529) thousand, a decrease of 31% compared to $(767) thousand in the same period of 2023[147]. - The company may consider raising additional capital through debt or equity financing for strategic purposes, although such capital may not be available on reasonable terms[146]. Discontinued Operations - The company divested Global Cooling, Inc. on April 17, 2024, presenting it as a discontinued operation in the financial statements[123]. - The company recognized $6.1 million in cash expenditures related to the Global Cooling divestiture during the three months ended June 30, 2024[145]. - The company incurred a change in fair value of equity investments of $(4.1) million during the three months ended June 30, 2024, indicating a full impairment of its equity interest in iVexSol[140]. Other Financial Metrics - Total other (expense) income for the three months ended June 30, 2024, was $(4.4) million, a decrease of $9.5 million or 185% compared to $5.1 million in the same period of 2023[147]. - The company’s total short-term purchase obligations were $5.8 million as of June 30, 2024[153].

Company Performance - BioLife Solutions reported a quarterly loss of $0.06 per share, better than the Zacks Consensus Estimate of a loss of $0.14, and an improvement from a loss of $0.23 per share a year ago, representing an earnings surprise of 57.14% [1] - The company posted revenues of $28.33 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 19.03%, although this is a decline from year-ago revenues of $39.51 million [2] - Over the last four quarters, BioLife Solutions has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Stock Performance - BioLife Solutions shares have increased approximately 35.7% since the beginning of the year, significantly outperforming the S&P 500's gain of 9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.11 on revenues of $24.5 million, and for the current fiscal year, it is -$0.47 on revenues of $105.93 million [7] Industry Outlook - The Medical - Products industry, to which BioLife Solutions belongs, is currently ranked in the top 34% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Revenue Performance - Total revenue for Q2 2024 was $28.3 million, a decrease of 3% year-over-year but an increase of 6% sequentially[6]. - Cell Processing revenue for Q2 2024 was $18.0 million, down 4% year-over-year but up 11% sequentially[6]. - Product revenue for the three months ended June 30, 2024, was $21,310, a decrease of 6.5% compared to $22,786 for the same period in 2023[23]. - Total revenue for the six months ended June 30, 2024, was $55,107, down 5.9% from $58,419 in the prior year[23]. - Total revenues for the three months ended June 30, 2024, were $28,328, a decrease of 3.1% from $29,237 for the same period in 2023[30]. Profitability Metrics - GAAP gross margin for Q2 2024 was 51%, an increase from 35% in Q2 2023; non-GAAP adjusted gross margin was 52%, up from 45%[8]. - Adjusted EBITDA for Q2 2024 was $4.8 million, or 17% of revenue, compared to $1.7 million, or 6% of revenue, in Q2 2023[12]. - Gross profit for the three months ended June 30, 2024, was $14,316, representing a gross margin of 51%, compared to a gross profit of $10,291 and a margin of 35% in the prior year[30]. - Adjusted gross profit for the three months ended June 30, 2024, was $14,868, with an adjusted gross margin of 52%, up from 45% in the same period last year[30]. - The company reported a gross margin of 51% for the six months ended June 30, 2024, compared to 40% for the same period in 2023[30]. Guidance and Expectations - The company raised its full-year 2024 revenue guidance to $99.0 million to $101.0 million, up from previous guidance of $95.5 million to $100.0 million[13]. - Cell Processing revenue guidance for 2024 was increased to $70.0 million to $71.0 million, representing a growth of 6% to 8% compared to 2023[13]. - Management expects full-year positive adjusted EBITDA and adjusted EBITDA growth in 2024[14]. Operating Expenses and Losses - Total operating expenses for the three months ended June 30, 2024, were $31,122, down from $39,865 in the same quarter of 2023[23]. - Research and development expenses for the three months ended June 30, 2024, were $2,382, a decrease of 37.2% compared to $3,793 in the same period of 2023[23]. - Operating loss for the three months ended June 30, 2024, was $(2,794), significantly improved from $(10,628) in the same quarter of 2023[23]. - The net loss from continuing operations for the three months ended June 30, 2024, was $(7,145), compared to a net loss of $(5,518) for the same period in 2023[33]. - The adjusted net loss from continuing operations for the six months ended June 30, 2024, was $(5,348), compared to $(11,446) in the same period last year[33]. Cash Flow and Financial Position - Cash used in operating activities for the six months ended June 30, 2024, was $1,984, a significant improvement from cash used of $(10,430) in the prior year[29]. - The company reported a net decrease in cash, cash equivalents, and restricted cash of $(13,393) for the six months ended June 30, 2024[29]. Product Development and Market Position - The company processed 12 new U.S. FDA Master File cross references for biopreservation media, bringing the cumulative total to 728[3]. - The biopreservation media is now embedded in 15 unique commercial CGTs, with expectations for 11 additional product approvals in the next 12 months[3]. - The company introduced the CellSeal CryoCase at the ISCT conference, aimed at replacing cryopreservation bags[3].

Core Insights - BioLife Solutions reported a sequential revenue increase of 11% in Cell Processing revenue, reaching $18.0 million, and raised its full-year 2024 revenue guidance to between $99.0 million and $101.0 million [1][12][13] Financial Performance - Total revenue for Q2 2024 was $28.3 million, a decrease of 3% year-over-year but an increase of 6% sequentially [6] - Cell Processing platform revenue for Q2 2024 was $18.0 million, down 4% from Q2 2023 but up 11% sequentially [6] - Gross margin for Q2 2024 was 51%, up from 35% in Q2 2023, while adjusted gross margin was 52%, compared to 45% in the same period [7] - The company reported a GAAP net loss from continuing operations of $7.1 million for Q2 2024, which included a $4.1 million write-off of an equity investment [9] Business Highlights - The company processed 12 new U.S. FDA Master File cross references for its biopreservation media, bringing the total to 728 [3] - BioLife's biopreservation media is now embedded in 15 unique commercial CGTs, with expectations for 9 additional product approvals or geographic expansions in the next 12 months [3] - The introduction of the CellSeal® CryoCase™ aims to meet the needs of CGT primary packaging [3] Revenue Guidance - The revised guidance for Cell Processing platform revenue is now set at $70.0 million to $71.0 million, reflecting a growth of 6% to 8% compared to 2023 [13] - Biostorage Services platform revenue guidance has been adjusted to $29.0 million to $30.0 million, indicating a growth of 3% to 7% compared to 2023 [13] Management Commentary - The CEO highlighted the stabilization of the business and the benefits from high-margin, recurring product offerings, indicating a positive outlook for the second half of the year [2] - The company is strategically aligned with favorable trends in the CGT market, including a more favorable regulatory environment and increased therapy approvals [2]

Core Insights - BioLife Solutions, Inc. will release its second quarter 2024 financial results on August 8, 2024, after market close [1] - A conference call and live webcast will be held at 4:30 PM ET on the same day to discuss the financial results and provide a business update [1] Company Overview - BioLife Solutions is a leading supplier of bioproduction tools and services for cell and gene therapies (CGT) and the broader biopharma markets [3] - The company's expertise supports the commercialization of new therapies by providing solutions that preserve the health and function of biologic materials throughout their lifecycle [3] Investor Relations - Investors can access the webcast through the BioLife Solutions Investor Relations page [2] - The conference call can be joined by dialing a toll-free number or an international number [2] - A replay of the webcast will be available approximately two hours after the call and archived for 90 days [2]

Core Viewpoint - The article emphasizes the importance of identifying sustainable trends in short-term investing, highlighting that while price momentum can be profitable, it requires strong fundamentals to maintain that momentum [1][2]. Group 1: Stock Performance - BioLife Solutions, Inc. (BLFS) has shown a solid price increase of 32.2% over the past 12 weeks, indicating strong investor interest [4]. - The stock has also increased by 2.1% in the last four weeks, suggesting that the upward trend is still intact [5]. - BLFS is currently trading at 83.7% of its 52-week high-low range, indicating a potential breakout [5]. Group 2: Fundamental Strength - BLFS holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [6]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [7]. Group 3: Investment Strategy - The article suggests using the "Recent Price Strength" screen to identify stocks like BLFS that are on an upward trend supported by strong fundamentals [3][8]. - It also mentions that there are over 45 Zacks Premium Screens available for investors to find winning stock picks based on their personal investing styles [8].

Core Insights - BioLife Solutions, Inc. has introduced the CryoCase, a new primary packaging solution for cell and gene therapy (CGT) that aims to replace traditional cryopreservation bags with a more durable and efficient container [2][3]. Product Features - The CryoCase is designed for closed-system fill and retrieval of larger fluid volumes (less than 75mL) and features a transparent design for better compliance with inspection standards [3]. - It is manufactured under strict controls to minimize particulates, which are a growing concern in drug product manufacturing [3][4]. - Early testing indicates that the CryoCase maintains comparable cell viability and recovery compared to existing storage methods, while also demonstrating high resistance to leaks and fractures [3]. Market Positioning - The introduction of the CryoCase is positioned as a solution to reduce risks and costs in CGT manufacturing, aligning with the industry's need for improved primary containers [4]. - The product is compatible with various downstream processing systems, enhancing its integration into existing workflows [4]. Availability and Demonstration - The CryoCase is expected to be available for CGT developers in August and is currently being demonstrated at the ISCT event in Vancouver, Canada [2]. - Samples of the CryoCase are available for testing, indicating the company's proactive approach to market engagement [4]. Company Overview - BioLife Solutions is recognized as a leading supplier of bioproduction tools and services for the CGT and broader biopharma markets, focusing on maintaining the health and function of biologic materials throughout their lifecycle [5].