BioLife Solutions (NASDAQ: BLFS) guides to 17–20% revenue growth and GAAP profitability in 2026
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
BioLife Solutions, Inc. furnished an investor presentation outlining its strategy and recent financial performance for cell-based therapy tools. The company reported pro forma 2025 revenue of $96.2M, up 29% from 2024, with a 65% gross margin and 26% adjusted EBITDA margin.
Q1 2026 revenue was $27.5M with adjusted EBITDA of $6.2M, a 22% margin. Management highlights leadership in biopreservation media, growing adoption across more than 950 active clinical trials and multiple approved therapies, and targets 17–20% revenue growth and positive GAAP net income for full-year 2026.
Positive
- Strong 2025 financial performance: Pro forma 2025 revenue reached $96.2M, up 29% from 2024, with a 65% gross margin and 26% adjusted EBITDA margin, indicating improved scale and profitability.
- Robust start to 2026: Q1 2026 revenue of $27.5M and adjusted EBITDA of $6.2M (22% margin) show continued growth and solid operating leverage early in the year.
- Constructive 2026 outlook: Management targets 17–20% revenue growth and positive GAAP net income for full-year 2026, along with ongoing adjusted EBITDA margin expansion.
Negative
- None.
Insights
BioLife shows strong 2025 growth, margin expansion and bullish 2026 guidance.
BioLife Solutions reports pro forma $96.2M 2025 revenue, up 29% year over year, with gross margin at 65% and adjusted EBITDA margin at 26%. Q1 2026 revenue reached $27.5M and adjusted EBITDA $6.2M at a 22% margin.
The business mix is heavily weighted to consumables and biopreservation media, which often carry higher margins and recurring usage. The company emphasizes specification in >70% of US cell-based therapy trials and ~90% of major approved therapies, which supports revenue visibility as these programs progress.
Management guides to 17–20% revenue growth and positive GAAP net income for full-year 2026, while continuing adjusted EBITDA margin expansion. Future filings may clarify how clinical trial conversions, pricing, and operating leverage track against these targets, especially as the cell-based therapy market is projected to grow >20% annually through 2030.
8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
2025 Revenue: $96.214M
2025 Gross Margin: 65%
2025 Adjusted EBITDA: $24.984M
+5 more
8 metrics
2025 Revenue
$96.214M
Pro forma 2025 total revenues after evo divestiture
2025 Gross Margin
65%
GAAP gross margin for 2025
2025 Adjusted EBITDA
$24.984M
Non-GAAP adjusted EBITDA for 2025
2025 Adjusted EBITDA Margin
26%
Adjusted EBITDA as a percentage of 2025 revenue
Q1 2026 Revenue
$27.500M
Total revenues in Q1 2026
Q1 2026 Adjusted EBITDA
$6.159M
Non-GAAP adjusted EBITDA in Q1 2026
2024–2025 Revenue Growth
29%
Year-over-year revenue growth from 2024 to 2025
2026 Revenue Growth Guidance
17–20%
Management target for full-year 2026 revenue growth
Key Terms
Non-GAAP, adjusted EBITDA, biopreservation media, cGMP, +2 more
6 terms
Non-GAAP financial
"Non-GAAP measures of financial performance: To supplement our financial statements..."
Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.
adjusted EBITDA financial
"GAAP to Non-GAAP Adjusted EBITDA (In thousands)... ADJUSTED EBITDA $5,400..."
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
biopreservation media financial
"Leading provider of biopreservation and processing tools for cell-based therapies..."
Biopreservation media are specially formulated liquids used to keep cells, tissues or biological samples alive and stable during storage and transport, like a refrigerated packing solution that prevents damage and decay. For investors, the quality of these media matters because they influence product shelf life, success of lab tests, regulatory acceptance, and logistics costs for therapies and diagnostics—factors that affect revenue, margins and market adoption.
cGMP technical
"Manufactured under cGMP and widely adopted across clinical and commercial programs..."
cGMP (current Good Manufacturing Practice) are government-enforced quality standards that manufacturers must follow to ensure drugs, medical devices, and related products are made consistently, safely, and meet specified quality tests. For investors, cGMP compliance is like a restaurant passing health inspections: it reduces the risk of product recalls, regulatory fines, or production stoppages that can hurt revenue and company value, and it supports market access and long-term trust.
allogeneic medical
"Expansion of addressable patient populations: Allogeneic vs. Autologous..."
Allogeneic describes a process or material involving different individuals of the same species, such as cells, tissues, or organs donated from one person to another. It is important to investors because products or treatments based on allogeneic sources can enable scalable, off-the-shelf solutions, potentially reducing costs and increasing accessibility in healthcare and biotech industries.
cell-based therapies medical
"Industry-Leading Solutions for Cell-Based Therapies..."
Therapies made from living cells that are given to patients to replace damaged tissue, turn off harmful immune responses, or stimulate healing; they are produced, tested, and administered much like medicines but are alive and can act in the body over time. Investors watch them because successful products can create large, long-lasting markets—think of them like breakthrough tools that could transform treatment—yet they also carry high scientific, regulatory and manufacturing risks that can make outcomes unpredictable.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 3, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (425 ) 402-1400
| N/A | ||
| (Former name or former address, if changed since last report) | ||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol | Name of exchange on which registered | ||||||
The | ||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 7.01 Regulation FD Disclosure.
On June 3, 2026, BioLife Solutions, Inc. (the “Company”) issued an investor presentation. A copy of the presentation is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. The investor presentation may be used by management in connection with the Jefferies Global Healthcare Conference, other investor conferences, and meetings with investors, analysts and other members of the investment community. The investor presentation is also available on the Company’s website located at https://investors.biolifesolutions.com/investor_presentation.
The information contained in this Item 7.01, including Exhibit 99.1 attached hereto, is intended to be furnished and will not be deemed to be “filed” for any purpose, including for the purposes of Section 18 the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor will such information or exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | Investor Presentation, dated June 3, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BioLife Solutions, Inc. | ||||||||
Date: June 3, 2026 | By: | /s/ Troy Wichterman | ||||||
| Name: Troy Wichterman | ||||||||
| Title: Chief Financial Officer | ||||||||
Investor Presentation June 2026
2 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 © Copyright 2026 BioLife Solutions® Safe Harbor Statement Certain statements contained in this presentation 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,” 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 U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by us. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. We undertake no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date of this presentation or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events. This presentation contains industry, statistical and market data, which was obtained from the company’s own internal estimates and research as well as from industry and general publications and research, surveys and studies conducted by third parties. All of the market data used in this presentation involves a number of assumptions and limitations. While the company believes that the information from these industry publications, surveys and studies is reliable, the industry in which it operates is subject to a high degree of uncertainty and risk due to a variety of important factors. These and other factors could cause results to differ materially from those expressed in the estimates made by third parties and by the company. This presentation contains trademarks, trade names and service marks of other companies, which are the property of their respective owners. The company does not intend its use or display of other parties' trademarks, trade names or service marks to imply, and such use or display should not be construed to imply, a relationship with, or endorsement or sponsorship of the company by, these other parties. Non-GAAP Measures of Financial Performance: To supplement our financial statements, which are presented on the basis of U.S. generally accepted accounting principles (GAAP), the following non-GAAP measures of financial performance are included on a consolidated basis in this release: adjusted gross margin, earnings before interest, taxes, depreciation and amortization (EBITDA), and adjusted EBITDA from continuing operations. A reconciliation of GAAP to adjusted non-GAAP financial measures is included on slides 24 – 27 of this presentation. 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.
3 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 Our Mission Our mission is to protect the integrity of cells and provide trusted tools, services, and expertise that enable our customers to advance and de-risk the development and delivery of cell-based therapies © Copyright 2026 BioLife Solutions® 241 245 248
4 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 © Copyright 2026 BioLife Solutions® BioLife at a Glance Leading provider of biopreservation and processing tools for cell-based therapies Note: 2025 figures pro forma for divestitures. (1) Reflects specification of both biopreservation media products (CryoStor®, HypoThermosol® and/or other biopreservation media) and/or cell processing tools products (CellSeal®, hPL solutions and/or Signata); as of October 2025. (2) Includes Phase 2/3 and Phase 3 trials. Revenue Mix (FY 2025) 13% 87% 98% 2% EquipmentBiopreservation Media ConsumablesCell Processing Tools 46% 20% 34% Direct Customer with Commercial Therapies Distributors Other Direct Customers (For Biopreservation Media Customers Only) $96M FY 2025 Revenue 29% FY 2025 Organic Revenue Growth 26% FY 2025 Adj. EBITDA Margin 65% FY 2025 Gross Margin ~35 (>80% BPM Share) Active Phase 3 US commercially-sponsored cell-based therapy trials specifying BioLife Products(1)(2) >950 Active global cell-based therapy trials specifying BioLife Products(1) 17 Biopreservation Media (BPM) 3 CellSeal® Vial • 1 hPL Solutions Commercially approved cell-based therapies specifying BioLife Products ~250 (>70% BPM Share) Active US commercially-sponsored cell-based therapy trials specifying BioLife Products(1) Product Product Type Geographic 81% 14% 5% North America EMEA Other Channel / Customer
5 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 25+ Years of Innovation in Cell-Based Applications 1987 - 2002 2003 - 2013 2014 - 2018 2023 - 20262019 - 2022 Scientific Foundation Biopreservation Focus Becoming Gold Standard Revenue Diversification Cell Processing & Consumables Focus R&D origins, proof of concept & technology validation Commercial pivot and operational scale Market leadership in cell biopreservation Integrated tools & services Strategic refocus & value optimization 1998 Incorporated as subsidiary of publicly traded Cryomedical Sciences, Inc. 2008 Submitted FDA Master Files for CryoStor® and HypoThermosol® FRS; < 300 customers 2009-2010 ISO13485 standard for quality management system; 12,000-20,000L annual capacity 2019-2021 Acquired adjacent cold chain storage & transport assets Acquired Astero Bio (ThawSTAR®) Sep 2021 Acquired Sexton Biotechnologies (hPL, CellSeal® and fill & finish) 2024-2025 Divestitures of Storage & Services (SciSafe, evo) & Freezers (CBS, Stirling) Oct 2023 Rod de Greef appointed CEO (20+ years of experience with BLFS) 2002 Divestiture of cryosurgical assets and portfolio focus on biopreservation 2017 Commercial approval of Kite Pharma’s cell-based therapy Yescarta; signed long-term supply agreement with Kite Pharma in 2016 2025 Acquisition of PanTHERA & investment in Pluristyx 2014 Spec’d into >175 clinical trials 2025 Spec’d into >950 clinical trials 2026 Signed Qkine partnership to expand CGT exposure, providing Cytokines © Copyright 2026 BioLife Solutions®
6 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 Executed Successful Portfolio Refocusing Note: 2025 figures pro forma for the divestiture of evo. (1) Excludes prior-year COVID-related revenue. (2) Reflects cash & cash equivalents and short- and long-term assets held for sale net of debt (including financing leases). 2023 Cell Processing Tools, Freezers and Cold Chain Services Divestiture of Storage & Services + Freezers Targeted Acquisitions, Investments & Partnerships & (Cryopreservation technology) Acquisition of (iPSC technologies) Investment in 42% 16% 41% 43% 41% 10% 6% Cell Processing Freezer & Thaw Storage & Cold Chain Equipment ConsumablesRental Service 87% 13% 98% 2% Equipment Biopreservation Media Consumables Cell Processing Tools $143M (4)% Revenue: $44M / 31% (3)% ’22-’23 % Growth: % Adj. EBITDA: Net Cash Balance(2): $26M Gross Margin: $96M 29% FY’25 Revenue: $62M / 65% 26% FY’24-’25 % Growth: FY’25 % Adj. EBITDA: Net Cash Balance(2): $114M FY’25 Gross Margin: Higher sustainable growth Improved profitability 100% Cell processing ~100% consumables (1) 2025 Cell Processing Tools © Copyright 2026 BioLife Solutions® (Cytokines & Growth Factors) Partnership with
7 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 Genetic Modification Therapy Delivery Sample Collection Expansion (of gene- modified cells) BioLife Supports Diverse Cell-Based Applications BioLife provides solutions for therapies involving ex vivo cell processing Ex Vivo Cell Therapy (Gene Un-Modified) Cells are collected from the patient or a donor, activated or expanded outside the body and reinfused without genetic alteration Ex Vivo Gene-Modified Cell Therapy Cells are collected, genetically engineered to perform therapeutic functions, expanded and reinfused into the patient In Vivo Cell / Gene Therapy Genetic material is delivered directly into the patient to modify cells within the body and enable therapeutic activity Sample Collection Activation Expansion Therapy Delivery Transfection reagent Genetic material + N o t c u rr e n t B io L if e a re a o f fo c u s Pluripotent Cells Natural Killer (NK) Cells Tumor-Infiltrating Lymphocytes (TILs) Gamma Delta T-Cells Undifferentiated or less differentiated cells capable of self-renewal and specialization Innate immune cells that identify and eliminate abnormal cells without prior sensitization, often developed as off-the-shelf therapies Naturally occurring T-Cells extracted from tumors, expanded ex vivo, and reinfused to amplify the body’s own immune response A unique T-cell subset that recognizes stressed or malignant cells without MHC restriction, enabling allogeneic therapy potential CAR-T Cells TCR T-Cells Genetically modified T-Cells engineered to express synthetic receptors bind and respond to cells T-Cells modified with enhanced receptors that detect intracellular and extracellular tumor antigens presented on MHC molecules E x a m p le s i n c lu d in g b u t n o t lim it e d t o : E x a m p le s i n c lu d in g b u t n o t lim it e d t o : © Copyright 2026 BioLife Solutions®
8 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 13% BioLife Solutions Product Platforms Cell Processing Tools BioLife’s cell processing tools support critical steps in the preparation, transfer, and recovery of cell-based therapies by enhancing efficiency and reproducibility through closed-system handling. BioLife’s human platelet lysate (hPL) solutions enable robust, reliable cell expansion, while CellSeal® closed-system containers and complementary systems such as Signata and ThawSTAR® provide secure cryogenic storage and transfer, reducing contamination risk and improving process uniformity. 87% CryoStor® (Cryopreservation Media) HypoThermosol® (Hypothermic Biopreservation Media) hPL Solutions (Cell Culture Media Supplement) CellSeal® (Cryovials & Cases) Signata (Automated Fill & Finish System & Consumables) ThawSTAR® (Thawing Equipment & Consumables) Biopreservation Media BioLife’s biopreservation media are foundational tools that protect cell viability and function throughout manufacturing, freezing, storage and transport. Formulated with optimized, serum-free components, CryoStor®, HypoThermosol® and BioLife’s other media products(1) deliver consistent performance across diverse cell types and processing conditions. Manufactured under cGMP and widely adopted across clinical and commercial programs, these solutions underpin the reliability and consistency of modern cell-based therapy processes. (1) Includes BloodStor® and Cell Thawing Media. FY 2025 FY 2025 © Copyright 2026 BioLife Solutions®
9 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 Pathogen-reduced and xeno-free supplements that support faster cell growth, higher yield, and improved functionality during cell expansion BioLife Differentiation Innovating vs. Traditional Options BioLife Solutions Key Products B io p re s e rv a ti o n M e d ia C e ll P ro c e s s in g T o o ls Product CryoStor® HypoThermosol® hPL Solutions CellSeal® Signata ThawSTAR® Description / Application Proprietary serum-free, protein-free cryo- preservation media (-70 to -196ºC) that protects cells and tissues during freezing and thawing, and optimizes post-thaw viable recovery + functionality Proprietary serum-free, protein-free hypothermic biopreservation media that preserves cell and tissue stability during storage & transport (2-8ºC) Automated, closed fluid management system and related consumables for cell fill-finish, media formulation, and bioreactor transfers; compatible with CellSeal® and other generic packing Automated, water-free thawing platform for consistent, contamination-free recovery of frozen cells and biologics ‘24-’25 YoY % Growth Approx. % Revenue Purpose built for maintaining cell viability under hypothermic conditions Improved performance of cells grown with hPL vs. traditional supplements Home-brew Isotonic Saline Solution Home-brew Water baths Freezing bags Standard cryovials Benchtop fillers Automated / robotic fillers Sterile containment solutions that safeguard cells and increase preservation while maintaining flexibility throughout the manufacturing workflow Traditional FBS & AB Serum cell culture media offering ~80-85% ~3-5% ~3-5% ~5-7% ~1-2% ~1-2% +32% +2% 0% +25% +54% +95% (+18% ’21-’25 CAGR) Benchmark for reliable high post-thaw cell recovery and functionality Fracture resistant and closed aseptic filling minimizing contamination risk High precision delivery, protocol flexibility, and ease of implementation Reduced contamination risks and easy to use reliability © Copyright 2026 BioLife Solutions®
10 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 Products Used Throughout Cell-Based Therapy Workflow Upstream Processing Downstream Processing Cells are collected from the patient or donor and sent to manufacturing Target cells are separated and purified from the initial sample Cells are stimulated and, if applicable, genetically modified to gain therapeutic function Cells are cultured and multiplied to reach the required therapeutic dose Expanded cells are collected and prepared for formulation Cells are mixed with cryoprotectant media and filled into final containers Product is cryopreserved to preserve viability for storage and transport Cells are thawed onsite and administered to the patient Cells preserved + shipped (hypo- thermic or cryo- thermic; thawed pre- processing if latter) Frozen therapy is stored and shipped through a controlled cold chain Sample Collection Selection & Isolation Expansion Activation Modification Harvest Formulate / Fill Freeze Thaw & Administer Storage + Transport Biopreservation KEY to Therapy Efficacy Quality control integral throughout therapy production HypoThermosol® (Hypothermic Biopreservation Media) hPL Solutions (Cell Culture Media Supplement) CellSeal® & Signata (Cryovials & Cases + Automated Fill & Finish System & Consumables) CryoStor® (Cryopreservation Media) ThawSTAR® (Thawing Equipment & Consumables) BioLife Products Biopreservation & Transport CryoStor® (Cryopreservation Media)ThawSTAR® (Thawing Equipment & Consumables) BioLife Technical Expertise Application Science Process Development Support Center of Excellence © Copyright 2026 BioLife Solutions®
11 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 Active US, Commercially Sponsored Cell-Based Therapy Trials and US Approved Cell-Based Therapies A significant number of active clinical trials and commercial cell-based therapies are supported by BioLife’s biopreservation media Trusted by Leaders in Cell-Based Therapies (1) Based on active US commercially sponsored cell-based therapy trials; reflects specification of biopreservation media products (CryoStor®, Hypothermosol® and/or other biopreservation media); as of October 2025. (2) Based on US commercially approved cell-based therapies with >$100M of revenue; reflects seven approved cell-based therapies specifying BioLife products out of eight; as of October 2025. (3) Based on EvaluatePharma. Total Clinical Trials (P1 – P3)(1) Selected Customers Direct Phase 3 Clinical Trials (P2/3 & P3)(1) Commercially Approved (with >$100M Revenue)(2) Top 8 US Comm. Cell-Based Therapies(3) Drug Name 2025E Revenue ’25-’28E CAGR BLFS Specified Carvykti $1.9B 30% Yescarta 1.6B 3% Breyanzi 1.3B 16% Kymriah 0.4B (4%) Abecma 0.4B (0%) Tecartus 0.4B 2% Amtagvi 0.2B 38% Casgevy 0.1B 67% Total $6.5B 25% >70% >80% ~90% Distributors CDMOs Clinical Centers N = ~325 N = ~45 N = 8 © Copyright 2026 BioLife Solutions®
12 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 Embedded Across Cell-Based Applications Therapy Type Cell Source Therapeutic Area Breakdown of active US, commercially-sponsored cell-based therapy clinical trials in which biopreservation media is specified (N=~250) 59% 32% 9% 57% 14% 7% 5% 3% 13% Unidentified Allogeneic 51% 8% 11% 7% 4% 3% 16% G en e -M o d ifie d (5 9 % ) U n- m o d ifi e d (2 5 % ) Note: As of October 2025. Musculo- skeletal Other CNS Immunology Hematological CAR-T TCR Pluripotent Cell Gamma Delta T-Cell Unidentified TIL NK Cell Autologous Oncology © Copyright 2026 BioLife Solutions®
13 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 CryoStor®: Industry-Leading Cryopreservation Solution in a Market with High Switching Costs CryoStor® Differentiation Obstacles to Switch by Phase Performance (Cell Viability) Regulatory Documentation Technical Support Supply Consistency & Reliability Source: Advancy and Dark Horse Consulting. Clinical precedent and regulatory acceptance with brand recognition and customer trust Master File and US FDA cross-references, cGMP evidence and full traceability, closed system-packaging for use in clinical and commercial applications Pre-Clinical $100k - $500k $300k - $1.7m $300k - $1.7m $3m - $6m $3m - $6m 3-6mo 12-24mo 12-24mo 2-4yr 2-4yr Phase I Phase II Phase III Manufacturing Phase Ability to Switch Est. Cost Est. Time Easier to SwitchHarder to Switch Reliably high post-thaw recovery and functional viability across a wide range of cell types and consistently outperforms top competitors and generic cryopreservation media Availability of experienced regulatory support and scientific and technical assistance for troubleshooting and integration of the product into cryopreservation workflows and navigation of global regulatory pathways Strong logistics and supply stability ensuring consistency of lot-to-lot, on time delivery, and validated cold-chain for global distribution Reputation © Copyright 2026 BioLife Solutions®
14 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 Diversity of Products and Multi-Product Specification Greater specification of non-CryoStor® products and increasing multi-product specification in global early-stage trials position BioLife for sustained growth Note: Reflects global clinical trials specifying BioLife products; as of October 2025. (1) Trials in which multiple BioLife products are specified are counted multiple times (once for each product). 5 4 1 19 43 21 24 47 22 6 HTS CSV HPL SignataHypoThermosol® h Solutions Phase 2/3 + 3 Phase 1-2 Greater specification of Non-CryoStor® in early-stage trials Clinical Trials With Non-CryoStor® Products(1) Clinical Trials With Multiple Products Specified Cell eal® Vials Increasing early-stage trials with multiple products specified 32 4 Phase 1-2 Phase 2/3 + 3 36 Trials with Multiple Products © Copyright 2026 BioLife Solutions®
15 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 +12% ‘25-’30 CAGR 23K 30K 50K33K Global Number of Cell-Based Therapy Patients (Clinical & Commercial) 34K 42K 59K 68K 74K 81K 89K $1.1 $1.7 $2.7 $3.8 $4.8 $6.7 $9.2 $12.1 $14.6 $17.0 $19.0 '20 '21 '22 '23 ' 4 '25F '26F '27F '28F '29F '30F Cell-Based Therapy Market Positioned To Grow 20%+ Success of commercial cell- based therapies: De novo New indications Geographic expansions Movement up in treatment Cell-Based Therapy Market Growth Drivers Global Commercial Cell-Based Therapy Revenue ($B, 2020-2030) Expansion of addressable patient populations: Allogeneic vs. Autologous Solid tumors vs. Blood cancers Autoimmune indications Source: EvaluatePharma. ’25F-’30F CAGR +23% +44% ’20-’24 CAGR © Copyright 2026 BioLife Solutions®
16 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 Large ~$4B Total Addressable Market for BioLife Current Market Opportunity Breakdown (2025) Addressable by BioLife Today Future Expansion Potential Source: Advancy. Total Biopreservation and Cell Processing Tools Market Global demand for: • Cell-based applications • Other applications such as organ, biospecimen, and fertility as well as broader cell culture reagents and equipment Serviceable Adjacent Market Includes adjacent segments that BioLife products can address but are not currently in focus Core Cell-Based Therapy Market Leader in biopreservation media with significant share gain opportunity in other product categories ~$550M Analytical control (QA) Cell banking Tissue preservation hPL for extracellular vesicles Other cell processing equipment hPL for cosmetics ~$1.2B ~$4B Fertility Tissue / organ preservation Other cell culture media supplements (cytokines, amino acids) Broader cell processing equipment and instruments Addressed by BioLife Today Total addressable market expected to grow from ~$4B to ~$6B by 2030 hPL for cell processing Biopreservation media Containment & selected cell processing equipment © Copyright 2026 BioLife Solutions®
17 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 2021 2025 Customer Annual Revenue Customer Case Study: Trusted Partner for Solutions Across the Workflow Large biopharma with multiple commercial cell-based therapy programs Long-term relationship with customer across multiple product platforms and therapies and through acquisitions BioLife viewed as partner for supporting commercial scale-up by optimizing process changes and improving compliance across the workflow 2011 CryoStor® Assisted with biopreservation opt- imization; subsequent Quality/Regulatory support 2015 CellSeal® Vials Integration into workflow to solve specific customer challenge TODAY Other Cell Processing Tools Additional workflow solutions under evaluation >2x BioLife Products in 2 Commercial Therapies and ~40 Active Clinical Trials(1) (1) Global trials; as of October 2025. Cell Processing Tools Biopreservation Media © Copyright 2026 BioLife Solutions®
18 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 Organizational Overview Organizational Breakdown by Functional Area 24% 21% 19% 13% 13% 10% ~157 Employees Quality Manufacturing Finance Sales & Marketing R&D Corporate & Other Executive Team Roderick de Greef Chairman & CEO Aby J. Mathew, PhD EVP, Chief Scientific Officer Sean Werner, PhD Chief Technology Officer Troy Wichterman Chief Financial Officer Seasoned team with deep experience developing industry-leading tools for cell-based therapies Todd Berard Chief Commercial Officer © Copyright 2026 BioLife Solutions®
19 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 Overview of Operational Footprint Overview of Key Facilities Headquarters & BPM Manufacturing (Bothell, WA) Facility Overview (69K SF) • Office space (17K SF) • 3 GMP clean rooms (10K SF) • Center of Excellence (5K SF) • Product finishing, QC, warehouse, cold storage (37K SF) Certifications: • ISO 13485:2016 Cell-Processing Tools Manufacturing (Indianapolis, IN) + (Noblesville, IN) Facility Overview (22K SF) • Office space (1,100 SF) • GMP hPL clean room & support space (1,800 SF) • Hardware/Service (700 SF) • QC, warehouse, cold storage, shared (18K SF) Certifications: • ISO 9001:2015 Media Storage & Thaw Service (Woodinville, WA) Facility Overview (13.5K SF) • Media Warehouse (11.7K SF) • Thaw Service (1.8K SF) Contracted CDMOs for Hardware and Consumables BPM GMP Cold Storage (Reno, NV) • Eliminated when Noblesville is online Lab & IRI Manufacturing (Ottawa, Canada) Current Facility Overview (3K SF) Lease ends Dec ’26 – future 4K SF facility identified nearby © Copyright 2026 BioLife Solutions®
20 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 17% 27%24% 28% © Copyright 2026 BioLife Solutions® BioLife Solutions Financial Overview Total Revenue ($M) Adjusted EBITDA ($M) $16 $18 $19 $21 $22 $23 $26 $25 $28 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Key Future Growth Drivers +29% ‘24-’25 % Growth 17-20% 2026 Revenue Growth Guidance $1.9 $3.1 $4.6 $3.7 $5.4 $5.6 $7.1 $6.9 $6.2 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 % Margin +88% ‘24-’25 % Growth Spec’d in commercial therapies & hundreds of clinical trials Increasing patient population (e.g., allogeneic, solid tumor, autoimmune indications, etc.) Multi-product penetration Pro forma for the divestiture of evo Key Future Growth Drivers Pricing Direct vs. distributor mix Fixed cost leverage 24%24%18%11% 22%
21 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 Investment Highlights (1) Based on EvaluatePharma. (2) Based on active US commercially sponsored cell-based therapy trials; reflects specification of biopreservation media products (CryoStor®, Hypothermosol® and/or other biopreservation media); as of October 2025. (3) Based on US commercially approved cell-based therapies with >$100M of revenue; reflects seven approved cell-based therapies specifying BioLife products out of eight; as of October 2025. Industry-leading biopreservation and cell processing solutions designed to improve quality and de-risk cell-based therapy manufacturing and delivery Pure-play provider to cell-based therapy market, which is expected to grow 20%+ through 2030(1) BioLife products are spec’d in to >70% of cell-based therapy clinical trials(2) and used in ~90% of commercially relevant, FDA-approved cell-based therapies(3) Spec’d in status enables predictable, growing, sticky and high-margin revenue stream Significant competitive moat characterized by high switching costs and mission critical function of BioLife solutions in cell-based therapies 17-20% revenue growth expected for FY 2026 with positive net income (GAAP) for the full year and continued expansion of adj. EBITDA margin © Copyright 2026 BioLife Solutions®
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23 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 GAAP to Non-GAAP Financial Information © Copyright 2026 BioLife Solutions®
24 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 GAAP Gross Profit to Non-GAAP Gross Profit (In thousands) Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY2024 Total revenues $ 16,485 $ 18,042 $ 19,405 $ 20,715 $ 74,647 Cost of revenues (4,961) (5,905) (5,888) (6,829) (23,583) COGS intangible asset amortization (246) (241) (240) (241) (968) Gross profit $ 11,278 $ 11,896 $ 13,277 $ 13,645 $ 50,096 Gross margin 68% 66% 68% 66% 67% ADJUSTMENTS TO GROSS PROFIT: Inventory reserve costs - - 247 - 247 Gain on disposal of assets - - - 87 87 Intangible asset amortization 246 241 240 241 968 ADJUSTED GROSS PROFIT $ 11,524 $ 12,137 $ 13,764 $ 13,973 $ 51,398 ADJUSTED GROSS MARGIN 70% 67% 71% 67% 69% © Copyright 2026 BioLife Solutions® Pro forma for the divestiture of evo
25 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 GAAP Gross Profit to Non-GAAP Gross Profit (In thousands) Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2026 Total revenues $ 22,054 $ 23,438 $ 25,958 $ 24,764 $ 96,214 $ 27,500 Cost of revenues (6,995) (7,938) (9,130) (8,989) (33,052) (9,763) COGS intangible asset amortization (259) (267) (259) (259) (1,044) (241) Gross profit $ 14,800 $ 15,233 $ 16,569 $ 15,516 $ 62,118 $ 17,496 Gross margin 67% 65% 64% 63% 65% 64% ADJUSTMENTS TO GROSS PROFIT: Gain on disposal of assets (12) - - - (12) (6) Intangible asset amortization 259 267 259 259 1,044 241 ADJUSTED GROSS PROFIT $ 15,047 $ 15,500 $ 16,828 $ 15,775 $ 63,150 $ 17,731 ADJUSTED GROSS MARGIN 68% 66% 65% 64% 66% 64% © Copyright 2026 BioLife Solutions® Pro forma for the divestiture of evo
26 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 GAAP to Non-GAAP Adjusted EBITDA (In thousands) Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Income (loss) from continuing operations $ (2,715) $ (5,158) $ 300 $ (1,216) $ (8,789) ADJUSTMENTS: Interest expense, net 200 316 226 24 766 Accretion of available-for-sale investments (183) (137) (88) (68) (476) Income tax expense (benefit) 17 1 (80) 24 (38) Depreciation 172 159 151 161 643 Intangible asset amortization 312 307 307 307 1,233 EBITDA $ (2,197) $ (4,512) $ 816 $ (768) $ (6,661) EBITDA margin (13)% (25)% 4% (4)% (9)% OTHER ADJUSTMENTS: Share-based compensation (non-cash) 3,886 3,730 3,918 3,748 15,282 Acquisition and divestiture costs 237 134 334 540 1,245 (Gain) loss on disposal of assets - - - 129 129 Change in fair value of investments - 4,074 - - 4,074 Other (income) expense (68) (308) (688) 68 (996) Inventory reserve costs - - 247 - 247 ADJUSTED EBITDA $1,858 $3,118 $4,627 $3,717 $13,320 ADJUSTED EBITDA MARGIN 11% 17% 24% 18% 18% © Copyright 2026 BioLife Solutions® Pro forma for the divestiture of evo
27 | Industry-Leading Solutions for Cell-Based Therapies | June 2026 GAAP to Non-GAAP Adjusted EBITDA (In thousands) Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2026 Income (loss) from continuing operations $271 ($15,320) $811 $2,108 ($12,130) $1,186 ADJUSTMENTS: Interest income, net (683) (684) (508) (831) (2,706) (1,041) Accretion of available-for-sale investments (105) (201) (235) (228) (769) (122) Income tax expense (benefit) 14 126 82 (173) 49 62 Depreciation 185 199 203 262 849 374 Intangible asset amortization 325 332 325 325 1,307 325 EBITDA $ 7 $ (15,548) $ 678 $ 1,463 $ (13,400) $ 784 EBITDA margin 0% (66)% 3% 6% (14)% 3% OTHER ADJUSTMENTS: Share-based compensation (non-cash) 3,982 5,707 5,779 5,804 21,272 4,806 Acquisition and divestiture costs 1,001 (61) 367 597 1,904 229 Severance costs 416 - 316 - 732 407 IPR&D expense - 15,521 - - 15,521 - (Gain) loss on disposal of assets (10) - - 11 1 (9) Other (income) expense 4 (46) (48) (956) (1,046) (58) ADJUSTED EBITDA $5,400 $5,573 $7,092 $6,919 $24,984 $6,159 ADJUSTED EBITDA MARGIN 24% 24% 27% 28% 26% 22% © Copyright 2026 BioLife Solutions® Pro forma for the divestiture of evo
© Copyright 2026 BioLife Solutions® BioLife Solutions Inc. 3303 Monte Villa Parkway, Suite 310 Bothell, WA 98021 USA T +1.866.424.6543 or 425.402.1400 F +1.425.402.1433 E info@biolifesolutions.com biolifesolutions.com NASDAQ: BLFS For additional questions or comments Troy Wichterman | Chief Financial Officer twichterman@BioLifeSolutions.com John Graziano | Investor Relations jgraziano@BioLifeSolutions.com
FAQ
What revenue did BioLife Solutions (BLFS) report for 2025 in this investor presentation?
BioLife Solutions reported pro forma 2025 revenue of $96.2 million. The company also highlighted a 29% year-over-year revenue increase versus 2024 and a 65% gross margin, reflecting growth driven by biopreservation media and cell processing tools for cell-based therapies.
How profitable was BioLife Solutions (BLFS) on an adjusted EBITDA basis in 2025?
BioLife Solutions generated 2025 adjusted EBITDA of $25.0 million. This corresponds to a 26% adjusted EBITDA margin, up from 18% in 2024, after adjustments such as share-based compensation, acquisition and divestiture costs, and other non-core items.
What guidance does BioLife Solutions (BLFS) give for 2026 revenue growth?
Management expects 17–20% revenue growth for full-year 2026. The presentation also states an expectation of positive GAAP net income for 2026 and continued expansion of adjusted EBITDA margin as the business scales within the cell-based therapy market.
How did BioLife Solutions (BLFS) perform in Q1 2026 according to the presentation?
In Q1 2026, BioLife Solutions reported revenue of $27.5 million. The company achieved gross profit of $17.5 million and adjusted EBITDA of $6.2 million, representing a 64% gross margin and 22% adjusted EBITDA margin in the quarter.
What is BioLife Solutions’ (BLFS) role in cell-based therapy clinical trials?
BioLife products are specified in a large share of cell-based therapy trials. The presentation notes specification in more than 950 active global trials, and over 70% of US commercially sponsored cell-based therapy trials, supporting recurring, high-margin consumables demand.
How large is the addressable market BioLife Solutions (BLFS) targets?
BioLife targets an estimated $4 billion total addressable market in 2025. This includes biopreservation media, human platelet lysate, containment, and selected cell processing equipment, with expectations that the market could grow to about $6 billion by 2030.