BioLife Solutions Reports First Quarter 2026 Financial Results
Rhea-AI Summary
BioLife Solutions (Nasdaq: BLFS) reported Q1 2026 revenue of $27.5M, up 25% year-over-year, GAAP gross margin of 64%, GAAP net income of $1.2M, and non-GAAP adjusted EBITDA of $6.2M (22% of revenue). Cash, cash equivalents and marketable securities totaled $111.5M. The company reiterated 2026 revenue guidance of $112.5M–$115.0M and mid-60% gross margin.
Positive
- Revenue +25% year-over-year to $27.5M
- Adjusted EBITDA $6.2M (22% of revenue)
- GAAP net income of $1.2M for Q1 2026
- Cash and marketable securities of $111.5M
- Reiterated 2026 revenue guidance of $112.5M–$115.0M
Negative
- GAAP gross margin down from 67% to 64% year-over-year
- Adjusted gross margin fell from 68% to 64% year-over-year
- Total operating expenses increased ~14% to $17.5M
- R&D expense rose from $1.4M to $2.65M (≈84% increase)
- Net cash used in operating activities of $(0.5)M in Q1
Key Figures
Market Reality Check
Peers on Argus
BLFS gained 0.93% while peers were mixed: STAA and KMTS were up, AZTA and EMBC were down, and PLSE rose. With no broad, same-direction move across 2+ peers, today’s action appears stock-specific rather than sector-driven.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 26 | Q4 & FY25 earnings | Positive | +7.7% | Strong Q4 and full-year 2025 growth with positive EBITDA and 2026 guidance. |
| Nov 06 | Q3 2025 earnings | Positive | -4.0% | Q3 2025 revenue and EBITDA growth plus guidance raise after evo sale. |
| Aug 07 | Q2 2025 earnings | Positive | +9.9% | Q2 2025 revenue up 29% with strong adjusted EBITDA and guidance raise. |
| May 08 | Earnings call details | Neutral | +4.2% | Updated dial-in information for scheduled earnings call, logistics-focused. |
| May 08 | Q1 2025 earnings | Positive | +4.2% | Strong Q1 2025 revenue growth, positive EBITDA and reaffirmed guidance. |
Earnings-related news for BLFS has typically produced meaningful moves, averaging about 4.36% over the last five tagged events, with most reactions positive and aligned with upbeat fundamentals.
Recent BLFS history shows consistent revenue growth and improving profitability. Q1 2025, Q2 2025, Q3 2025, and Q4/FY 2025 earnings all highlighted double‑digit revenue growth, solid 60%+ gross margins and recurring adjusted EBITDA. The sale of non-core assets like evo and acquisitions such as PanTHERA refocused the business on cell processing. Today’s Q1 2026 report, with $27.5M revenue and GAAP net income, continues that trajectory and reiterates the $112.5M–$115.0M 2026 revenue outlook.
Historical Comparison
Across the last five earnings-related announcements, BLFS moved an average of 4.36%, usually reacting positively to strong revenue growth, high gross margins and recurring adjusted EBITDA.
Earnings updates from Q1 2025 through Q4/FY 2025 show sustained double‑digit growth, expanding EBITDA, portfolio focus via acquisitions/divestitures and growing CGT embedding. The Q1 2026 report continues this pattern with higher revenue and GAAP profitability while reiterating 2026 guidance.
Market Pulse Summary
This announcement reports Q1 2026 revenue of $27.5M (up 25% year-over-year), a 64% GAAP gross margin, GAAP net income of $1.2M, and adjusted EBITDA of $6.2M (22% margin). Management reiterated 2026 revenue guidance of $112.5M–$115.0M with mid‑60% gross margins and full‑year GAAP profitability. Investors may track future quarters for sustained growth, margin trajectory, cash balance of $111.5M, and continued CGT adoption across commercial therapies and clinical pipelines.
Key Terms
gaap financial
non-gaap financial
adjusted ebitda financial
cell and gene therapy ("cgt") medical
AI-generated analysis. Not financial advice.
Total revenue of
GAAP gross margin and non-GAAP adjusted gross margin of
GAAP net income of
Conference call begins at 4:30 p.m. Eastern time today
"We delivered a solid start to 2026, with first quarter revenue up
First Quarter 2026 Business Highlights
- Our biopreservation media is utilized in approximately 250 ongoing commercially sponsored clinical trials in the
U.S. , representing a more than70% market share. This includes over 30 Phase III trials, or nearly80% of these late-stage trials. Our CellSeal vials and hPL products are used in over 35 clinical trials. - Our biopreservation media is embedded in 17 unique commercial CGTs as of March 31, 2026, with expectations that approvals for 9 additional products, geographic expansions, earlier lines of treatment, or new indications will occur over the next 12 months. Our CellSeal cryogenic vials and hPL products are embedded in four approved therapies.
First Quarter 2026 Financial Results
BioLife is presenting various financial metrics under
REVENUE
- Total revenue for the first quarter of 2026 was
$27.5 million $5.4 million 25% , from$22.1 million $2.7 million 11% , from the fourth quarter of 2025.
GROSS MARGIN
- Gross margin (GAAP) for the first quarter of 2026 was
64% compared with67% for the first quarter of 2025. Adjusted gross margin (non-GAAP) for the first quarter of 2026 was64% compared with68% for the first quarter of 2025.
OPERATING INCOME / (LOSS)
- Operating income (GAAP) for the first quarter of 2026 was
$27 thousand $0.5 million $1.0 million $1.2 million
NET INCOME
- Net income (GAAP) for the first quarter of 2026 was
$1.2 million $0.3 million $2.1 million $2.0 million
NET INCOME PER SHARE
- Net income per share (GAAP) for the first quarter of 2026 was
$0.02 $0.01
ADJUSTED EBITDA
- Adjusted EBITDA, a non-GAAP measure, for the first quarter of 2026 was
$6.2 million 22% of revenue, compared with$5.4 million 24% of revenue, for the first quarter of 2025.
CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES
- Cash, cash equivalents, and marketable securities as of March 31, 2026, were
$111.5 million
(As a result of presenting amounts in millions, rounding differences may exist in the percentages above.) |
2026 Financial Guidance
BioLife is reiterating its 2026 financial guidance as follows:
- Revenue of
$112.5 million $115.0 million 17% to20% compared with 2025 revenue from continuing operations; - Gross margin (GAAP) and adjusted gross margin (non-GAAP) in the mid
-60% range; - Net income (GAAP) for the full year; and
- Continued expansion of adjusted EBITDA margin (non-GAAP).
Conference Call & Webcast
Management will discuss the Company's financial results, provide a business update and answer questions during a conference call and live webcast today at 4:30 p.m. ET (1:30 p.m. PT).
To access the webcast, log onto the Investor Relations page of the BioLife Solutions website at https://www.biolifesolutions.com/earnings. In addition, the conference call will be accessible by dialing toll-free 1-833-630-0431 or 1-412-317-1808 for international callers. A webcast replay will be available approximately two hours after the call ends and will be archived on https://www.biolifesolutions.com for 90 days.
About BioLife Solutions
BioLife is a leading developer and supplier of cell processing tools and services for the CGT market. Our expertise facilitates the commercialization of new therapies by supplying solutions that maintain the health and function of biologic materials during the collection, development, manufacturing and distribution. For more information, please visit www.biolifesolutions.com, and follow BioLife on LinkedIn and X.
Cautions Regarding Forward Looking Statements
Certain statements contained in this press release are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "plans," "expects," "believes," "anticipates," "designed," "may," "estimate," "guidance," and similar words are intended to identify forward-looking statements. Forward-looking statements are based on our current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A description of certain of these risks, uncertainties and other matters can be found in filings we make with the
Non-GAAP Measures of Financial Performance
To supplement our financial statements, which are presented on the basis of
We believe these non-GAAP financial measures are useful to investors in assessing our operating performance. We use these financial measures internally to evaluate our operating performance and for planning and forecasting of future periods. We also believe it is in the best interests of investors to provide this non-GAAP information.
While we believe these non-GAAP financial measures provide useful supplemental information to investors, there are limitations associated with the use of these non-GAAP financial measures. These non-GAAP financial measures may not be reported by competitors, and they may not be directly comparable to similarly titled measures of other companies due to differences in calculation methodologies. The non-GAAP financial measures are not an alternative to GAAP information and are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures. They should be used only as a supplement to GAAP information and should be considered only in conjunction with our consolidated financial statements prepared in accordance with GAAP.
Media & Investor Relations
At the Company
Troy Wichterman
Chief Financial Officer
(425) 402-1400
twichterman@biolifesolutions.com
Investors
Alliance Advisors IR
Jody Cain
(310) 691-7100
jcain@allianceadvisors.com
BIOLIFE SOLUTIONS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, amounts in thousands, except share and per share amounts) | |||
Three Months Ended March 31, | |||
(In thousands, except per share and share data) | 2026 | 2025 | |
Revenue | $ 27,500 | $ 22,054 | |
Cost of revenue | 10,004 | 7,254 | |
Gross profit | 17,496 | 14,800 | |
Operating expenses: | |||
General and administrative | 12,208 | 11,351 | |
Sales and marketing | 2,526 | 2,443 | |
Research and development | 2,650 | 1,439 | |
Intangible asset amortization | 85 | 66 | |
Total operating expenses | 17,469 | 15,299 | |
Operating income (loss) | 27 | (499) | |
Other income: | |||
Interest income, net | 1,041 | 683 | |
Other income | 180 | 101 | |
Total other income, net | 1,221 | 784 | |
Income before income tax expense | 1,248 | 285 | |
Income tax expense | 62 | 14 | |
Net income from continuing operations | $ 1,186 | $ 271 | |
Discontinued operations: | |||
Loss from discontinued operations before income tax expense | — | (719) | |
Income tax benefit | — | — | |
Loss from discontinued operations | $ — | $ (719) | |
Net income (loss) | $ 1,186 | $ (448) | |
Earnings per share - Basic: | |||
Continuing operations | $ 0.02 | $ 0.01 | |
Discontinued operations | $ — | $ (0.02) | |
Net income (loss) | $ 0.02 | $ (0.01) | |
Earnings per share - Diluted: | |||
Continuing operations | $ 0.02 | $ 0.01 | |
Discontinued operations | $ — | $ (0.01) | |
Net income (loss) | $ 0.02 | $ — | |
Weighted average shares used to compute net loss per share attributable to common | |||
Basic | 48,458,536 | 47,134,720 | |
Diluted | 49,248,075 | 48,367,556 | |
BIOLIFE SOLUTIONS, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited, amounts in thousands)
| |||
Three Months Ended March 31, | |||
(In thousands) | 2026 | 2025 | |
Net income (loss) | $ 1,186 | $ (448) | |
Other comprehensive (loss) income | (252) | 9 | |
Comprehensive income (loss) | $ 934 | $ (439) | |
BIOLIFE SOLUTIONS, INC. CONDENSED CONSOLIDATED BALANCE SHEET INFORMATION (Unaudited, amounts in thousands)
| |||
March 31, | December 31, | ||
(In thousands) | 2026 | 2025 | |
Cash, cash equivalents, and marketable securities | $ 111,495 | $ 120,177 | |
Working capital | 114,969 | 113,582 | |
Current assets | 133,222 | 136,561 | |
Total assets | 400,906 | 405,884 | |
Current liabilities | 18,253 | 22,979 | |
Long-term obligations | 10,423 | 11,017 | |
Accumulated deficit | (338,510) | (339,696) | |
Total shareholders' equity | $ 372,230 | $ 371,888 | |
BIOLIFE SOLUTIONS, INC. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS INFORMATION (Unaudited, amounts in thousands)
| |||
Three Months Ended | |||
(In thousands) | 2026 | 2025 | |
Net cash (used in) provided by operating activities | $ (491) | $ 1,727 | |
Net cash used in investing activities | (1,830) | (27,176) | |
Net cash used in financing activities | (7,895) | (2,992) | |
Net decrease in cash and cash equivalents | $ (10,216) | $ (28,441) | |
Cash and cash equivalents – beginning of period | $ 33,038 | $ 95,386 | |
Cash and cash equivalents – end of period | 22,822 | 66,945 | |
Marketable securities | 88,673 | 40,690 | |
Total cash, cash equivalents, and marketable securities | $ 111,495 | $ 107,635 | |
BIOLIFE SOLUTIONS, INC. RECONCILIATION OF GAAP GROSS PROFIT TO NON-GAAP ADJUSTED GROSS MARGIN (Unaudited, amounts in thousands)
| |||
Three Months Ended | |||
(In thousands) | 2026 | 2025 | |
Revenue | $ 27,500 | $ 22,054 | |
Cost of revenue | (10,004) | (7,254) | |
GROSS PROFIT | $ 17,496 | $ 14,800 | |
GROSS MARGIN | 64 % | 67 % | |
ADJUSTMENTS TO GROSS PROFIT: | |||
Gain on disposal of assets | (6) | (12) | |
Intangible asset amortization | 241 | 259 | |
ADJUSTED GROSS PROFIT | $ 17,731 | $ 15,047 | |
ADJUSTED GROSS MARGIN | 64 % | 68 % | |
BIOLIFE SOLUTIONS, INC. RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP ADJUSTED OPERATING EXPENSES (Unaudited, amounts in thousands)
| |||
Three Months Ended | |||
(In thousands) | 2026 | 2025 | |
OPERATING EXPENSES | $ 17,469 | $ 15,299 | |
ADJUSTMENTS TO OPERATING EXPENSES | |||
Acquisition and divestiture costs | (229) | (1,001) | |
Severance costs | (407) | (416) | |
Intangible asset amortization | (85) | (66) | |
Gain on disposal of assets | 9 | 10 | |
ADJUSTED OPERATING EXPENSES | $ 16,757 | $ 13,826 | |
BIOLIFE SOLUTIONS, INC. RECONCILIATION OF GAAP OPERATING INCOME / (LOSS) TO NON-GAAP ADJUSTED OPERATING INCOME (Unaudited, amounts in thousands)
| |||
Three Months Ended | |||
(In thousands) | 2026 | 2025 | |
OPERATING INCOME / (LOSS) | $ 27 | $ (499) | |
ADJUSTMENTS TO OPERATING INCOME / (LOSS) | |||
Acquisition and divestiture costs | 229 | 1,001 | |
Severance costs | 407 | 416 | |
Intangible asset amortization | 325 | 325 | |
Gain on disposal of assets | (9) | (10) | |
ADJUSTED OPERATING INCOME | $ 979 | $ 1,233 | |
BIOLIFE SOLUTIONS, INC. RECONCILIATION OF GAAP NET INCOME FROM CONTINUING OPERATIONS TO NON-GAAP ADJUSTED NET INCOME (Unaudited, amounts in thousands)
| |||
Three Months Ended | |||
(In thousands) | 2026 | 2025 | |
NET INCOME FROM CONTINUING OPERATIONS | $ 1,186 | $ 271 | |
ADJUSTMENTS TO NET INCOME FROM CONTINUING OPERATIONS | |||
Acquisition and divestiture costs | 229 | 1,001 | |
Severance costs | 407 | 416 | |
Intangible asset amortization | 325 | 325 | |
Gain on disposal of assets | (9) | (10) | |
Income tax expense | 62 | 14 | |
Other (income) expense | (58) | 4 | |
ADJUSTED NET INCOME | $ 2,142 | $ 2,021 | |
BIOLIFE SOLUTIONS, INC. RECONCILIATION OF GAAP NET INCOME FROM CONTINUING OPERATIONS TO NON-GAAP ADJUSTED EBITDA (Unaudited, amounts in thousands)
| |||
Three Months Ended | |||
(In thousands) | 2026 | 2025 | |
NET INCOME FROM CONTINUING OPERATIONS | $ 1,186 | $ 271 | |
ADJUSTMENTS: | |||
Interest income, net | (1,041) | (683) | |
Accretion of available-for-sale investments | (122) | (105) | |
Income tax expense | 62 | 14 | |
Depreciation | 374 | 185 | |
Intangible asset amortization | 325 | 325 | |
EBITDA | $ 784 | $ 7 | |
OTHER ADJUSTMENTS: | |||
Share-based compensation (non-cash) | 4,806 | 3,982 | |
Acquisition and divestiture costs | 229 | 1,001 | |
Severance costs | 407 | 416 | |
Gain on disposal of assets | (9) | (10) | |
Other (income) expense | (58) | 4 | |
ADJUSTED EBITDA | $ 6,159 | $ 5,400 | |
% of Revenue | 22 % | 24 % | |
View original content to download multimedia:https://www.prnewswire.com/news-releases/biolife-solutions-reports-first-quarter-2026-financial-results-302766138.html
SOURCE BioLife Solutions, Inc.