BioLife Solutions Inc ( (BLFS) ) has released its Q1 earnings. Here is a breakdown of the information BioLife Solutions Inc presented to its investors.
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BioLife Solutions Inc., a prominent player in the cell and gene therapy market, specializes in developing and supplying cell processing tools and services. The company has reported a robust start to 2025 with a significant 33% increase in cell processing revenue compared to the previous year, driven by growth in its core biopreservation media product line. This growth highlights the resilience of BioLife’s business model, particularly with commercial therapy customers contributing to 40% of the biopreservation media revenue.
In the first quarter of 2025, BioLife Solutions achieved a total revenue of $23.9 million, marking a 30% increase from the same period in 2024. The company’s adjusted EBITDA also saw a notable improvement, reaching $5.7 million, which is 24% of the revenue, compared to $2.6 million or 14% of revenue in the first quarter of 2024. The acquisition of PanTHERA CryoSolutions further strengthens BioLife’s position in the biopreservation market, adding innovative cryopreservation solutions to its portfolio.
Key financial metrics include a GAAP gross margin of 63% and a non-GAAP adjusted gross margin of 66%, consistent with the previous year. The company reported a GAAP net loss of $0.4 million, a significant improvement from the $3.2 million loss in the first quarter of 2024. Additionally, BioLife processed 13 new U.S. FDA Master File cross-references for its biopreservation media, indicating continued expansion and integration into commercial therapies.
Looking ahead, BioLife Solutions remains optimistic about its growth prospects for 2025, with revenue guidance set between $95.5 million and $99.0 million, reflecting a growth rate of 16% to 20% over 2024. The company is focused on maintaining a healthy balance sheet and leveraging its strategic acquisitions to advance its leadership in the cell and gene therapy market.