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.
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BioLife Solutions reported a record full year revenue of $161.8 million for 2022, marking a 36% increase from 2021, with biopreservation media revenue growing by 45%. Q4 2022 revenue reached $44.3 million, up 19% year-on-year. Adjusted EBITDA for the year was $3.6 million, and for Q4, it was $1.7 million. The company anticipates 2023 revenue between $188 million and $202 million, reflecting growth rates of 16% to 25%. CEO Mike Rice emphasized continued demand for their products in the growing cell and gene therapy markets, with expected revenue growth largely driven by cell processing platforms and storage services.