Business
BioLife Solutions Announces Fourth Quarter and Full Year 2019 Financial Results
- Fourth quarter revenue of $8.3 million, up 52% over the prior year - Full year revenue of $27.4 million, up 39% over the prior year - 2020 revenue guidance
About this update from Biolife Solutions, Inc.
[{"type":"text","content":"- Fourth quarter revenue of $8.3 million, up 52% over the prior year\n - Full year revenue of $27.4 million, up 39% over the prior year\n - 2020 revenue guidance of $48 million to $53 million; up 75% to 94% over 2019; expect to exit 2020 with an adjusted EBIDTA margin of 20% - 25%\n Conference call begins today at 4:30 p.m. Eastern time\n\n\nBOTHELL, Wash., March 11, 2020 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS) (\"BioLife\" or the \"Company\"), a leading developer and supplier of a portfolio of best-in-class bioproduction tools for cell and gene therapies, today reported financial results and operational highlights for the fourth quarter and full year ended December 31, 2019.\n\n \n \n \n \n \n \n\n \nMike Rice, BioLife CEO, commented, \"2019 saw a remarkable transition for BioLife, as we transformed the business from a single product company to a multi-solution provider of class-defining bioproduction tools to the cell and gene therapy industry. \nWe posted record revenue of $27.4 million and record adjusted EBITDA of $5.7 million, driven by our 2019 acquisitions, which we believe confirms that our strategy to innovate and consolidate in this highly-fragmented industry is bearing fruit. In 2019, we gained nearly 200 new customers and confirmed our biopreservation media products were spec'd into 69 additional clinical trials. Our customer base includes most of the leading and late stage cell and gene therapy companies and with our 2019 acquisitions, we are currently serving a majority of the companies in the space with at least one product in our bioproduction tools portfolio. In addition to our products being embedded in the commercial shipments of YESCARTA® and ZOLGENSMA®, at least one of our portfolio products is spec'd into seven additional cell or gene therapies that could gain approval in 2020.\nWe believe that we have a tremendous opportunity to expand our product offering and grow revenue organically and from additional acquisitions of other innovative tools providers.\"\n2019 M&A Recap\nApril: Astero Bio; automated, water-free thawing products for biologic source material and manufactured cell and gene therapy products August: SAVSU Technologies; class-defining cloud-connected, evo shipping containers and a SaaS for cold chain management of biologic source material and manufactured cell and gene therapy p...