Welcome to our dedicated page for Biolife Solutions news (Ticker: BLFS), a resource for investors and traders seeking the latest updates and insights on Biolife Solutions stock.
BioLife Solutions develops and supplies cell processing tools and bioproduction products for the cell and gene therapy market and broader biopharma customers. Company news commonly covers financial results from continuing operations, demand for biopreservation media, and the role of its products in maintaining biologic material during collection, development, manufacturing, storage, distribution, and thawing.
Recurring updates also include product-portfolio expansion, supply agreements for cell and gene therapy manufacturing inputs, CellSeal vial systems, human platelet lysate products, cytokine and growth factor distribution, and research activity tied to biopreservation and cryopreservation technologies.
BioLife Solutions (NASDAQ: BLFS), a leading supplier of bioproduction tools for the cell and gene therapy market, has appointed Cathy Coste to its board of directors, expanding the board to seven members. Coste will serve as chair of the audit committee, replacing Joydeep Goswami, who remains a director and committee member.
Coste brings over 40 years of senior executive experience, including 30+ years at Deloitte where she served as a senior partner and life sciences industry executive leader. She has worked with more than two dozen life sciences companies and currently serves as audit committee chair for Biomerica, Minerva Surgical, and Renalytix plc.
The appointment comes as BioLife completes its transition to a pure-play enabler of cell and gene therapies, positioning the company for revenue growth and sustained profitability.
BioLife Solutions (BLFS) reported strong Q4 and full-year 2024 results, with notable growth in its Cell Processing segment. Q4 total revenue reached $22.7 million, up 31% year-over-year, driven by Cell Processing revenue of $20.3 million, representing a 37% increase.
The company achieved a GAAP gross margin of 60% and adjusted EBITDA of $4.0 million (18% of revenue) in Q4. Full-year 2024 revenue totaled $82.3 million, an 8% increase from 2023. The company strengthened its financial position by divesting non-core businesses, including SciSafe and CBS, resulting in a cash position exceeding $100 million.
Looking ahead, BioLife projects 2025 revenue guidance of $95.5-99.0 million, representing 16-20% growth. The Cell Processing platform is expected to grow 18-21% to $86.5-89.0 million. The company's biopreservation media is now embedded in 17 approved cell and gene therapies, with 8 additional approvals anticipated in the next 12 months.
BioLife Solutions (NASDAQ: BLFS), a leading developer and supplier of bioproduction products and services for the cell and gene therapy market, has scheduled its fourth quarter and full year 2024 financial results release for March 3, 2025, before market open.
The company will host a conference call and webcast at 8:00am ET (5:00am PT) on the same day, where management will present financial results and provide a business update. Investors can access the webcast through BioLife's website or join via phone using the toll-free number 1-833-630-0431 (international: 1-412-317-1808). A replay will be available approximately two hours after the call and remain accessible for 90 days on the investor relations website.
BioLife Solutions (NASDAQ: BLFS) reported preliminary Q4 2024 unaudited revenue from continuing operations of $22.7 million, up 31% from Q4 2023. The company's Cell Processing platform revenue reached $20.3 million in Q4, marking a 37% year-over-year increase and 7% sequential growth.
For full-year 2024, revenue from continuing operations totaled $82.3 million, an 8% increase from 2023. Cell Processing platform revenue grew 12% to $73.5 million, exceeding the high end of previously raised guidance. However, Evo and Thaw platform revenue decreased 14% to $8.7 million.
The company completed strategic divestitures in 2024, selling its freezer business (Global Cooling and Arctic Solutions) and storage business (SciSafe), streamlining operations to focus on the cell and gene therapy market. Including SciSafe's discontinued operations revenue of $18.44 million, total preliminary unaudited revenues reached $100.69 million for 2024.
BioLife Solutions (BLFS) has appointed Tony J. Hunt, Executive Chairman of Repligen , to its board of directors effective January 2, 2025, expanding the board to six members. Hunt brings extensive experience in bioprocessing innovation and leadership, having served as Repligen's CEO for nine years before becoming Executive Chairman in September 2024. His prior roles include President of Bioproduction at Life Technologies and Senior Director of Pharma Programs at Applied Biosystems. BioLife Solutions, a leading supplier of cell processing tools for the cell and gene therapy market, aims to leverage Hunt's expertise to strengthen its position in CGT bioprocessing solutions.
BioLife Solutions (NASDAQ: BLFS) has announced the sale of its Custom Biogenic Systems (CBS) freezer subsidiary for $6.1 million in cash. This transaction completes the company's strategic divestiture of all freezer and related businesses, following the sale of Global Cooling in April. The move aligns with BioLife's strategic refocus on proprietary, higher-margin, recurring-revenue cell processing products for the cell and gene therapy market, moving away from capital equipment freezer and storage businesses that previously included Stirling, SciSafe, and CBS.
BioLife Solutions (Nasdaq: BLFS) reported its Q3 2024 financial results, showing a 30% increase in total revenue to $30.6 million compared to Q3 2023. Cell Processing revenue grew 6% sequentially to $19.0 million, marking a 43% increase year-over-year. The company achieved a GAAP gross margin of 51% and a non-GAAP adjusted gross margin of 54%. Despite a GAAP net loss of $1.7 million, BioLife posted a non-GAAP adjusted EBITDA of $6.1 million, or 20% of revenue. The sale of the SciSafe biostorage business for $73 million in cash was completed, and 2024 revenue guidance was updated to $98.0-$100.0 million. The company also noted a reduction in GAAP net loss from $15.8 million in Q3 2023 to $1.7 million in Q3 2024. BioLife's cash, cash equivalents, and marketable securities stood at $39.3 million as of September 30, 2024.
BioLife Solutions (NASDAQ: BLFS) has sold its biostorage subsidiary SciSafe for $73 million in cash. SciSafe, which generated $10.4 million in revenue during the first half of 2024, was originally purchased by BioLife in October 2020 for $39 million. The sale aligns with BioLife's strategy to focus on proprietary, higher-margin recurring-revenue consumable solutions. Following the transaction, Todd Berard, BioLife's Chief Marketing Officer, will become Chief Commercial Officer, while Garrie Richardson will transition to CEO of the independent SciSafe.
BioLife Solutions (NASDAQ: BLFS), a leading developer and supplier of bioproduction products for cell and gene therapies and biopharma markets, has scheduled its third quarter 2024 financial results release for November 12, 2024, after market close. The company will host a conference call and webcast at 4:30pm ET to discuss financial results and provide a business update. Investors can access the webcast through BioLife's website, or join via phone using toll-free numbers. A replay will be available for 90 days on the company's investor relations page.
BioLife Solutions (Nasdaq: BLFS) announced its Q2 2024 financial results, highlighting an 11% sequential increase in Cell Processing revenue to $18 million. Total revenue for Q2 was $28.3 million, a 3% decrease year-over-year but a 6% sequential increase. The GAAP gross margin improved to 51%, while non-GAAP adjusted gross margin was 52%. The company experienced a GAAP net loss of $7.1 million and non-GAAP adjusted EBITDA of $4.8 million, or 17%.
BioLife revised its full-year 2024 revenue guidance to between $99 million and $101 million and increased Cell Processing revenue guidance to $70 million to $71 million. The company also noted a $4.1 million write-off related to its iVexSol equity investment.
Additional business highlights include 12 new FDA Master File cross-references and the launch of the CellSeal CryoCase. The sale of the GCI freezer division was completed in April, and its financials have been excluded.