Business
BioLife Solutions Reports First Quarter 2025 Financial Results
Cell Processing revenue of $21.6 million, up 33% over Q1 2024 GAAP gross margin of 63% and non-GAAP adjusted gross margin of 66% GAAP net loss of $0.4 million
About this update from Biolife Solutions, Inc.
[{"type":"text","content":"Cell Processing revenue of $21.6 million, up 33% over Q1 2024\nGAAP gross margin of 63% and non-GAAP adjusted gross margin of 66%\nGAAP net loss of $0.4 million and non-GAAP adjusted EBITDA of $5.7 million or 24% of revenue\nConference call begins at 4:30 p.m. Eastern time today\nBOTHELL, Wash., May 8, 2025 /PRNewswire/ -- BioLife Solutions, Inc. (Nasdaq: BLFS) (\"BioLife\" or the \"Company\"), a leading developer and supplier of cell processing tools and services for the cell and gene therapy (\"CGT\") market, announces financial results for the three months ended March 31, 2025.\n\n \n \n \n \n \n \n\n \nRoderick de Greef, Chairman and CEO, commented, \"We are off to a strong start to 2025, delivering 33% year-over-year growth in cell processing revenue and building on the sequential momentum carried throughout last year. Performance was driven primarily by growth in our core biopreservation media product line, particularly from customers with commercial therapies who now represent approximately 40% of total biopreservation media revenue – underscoring the resilience and durability of our model. Adjusted EBITDA margin expanded meaningfully as our streamlined organization and reshaped portfolio continues to unlock operating leverage following the strategic moves carried out last year.\"\n\"With a healthy balance sheet and disciplined approach to capital allocation, we are well positioned to continue advancing innovative solutions to the growing CGT market – organically and inorganically through acquisitions like PanTHERA CryoSolutions,\" he added. \"Even as we navigate a dynamic operating environment, we remain confident in our outlook for 2025 and our ability to deliver growth, extend our leadership position and create sustained value for shareholders.\"\nFirst Quarter 2025 Business Highlights\nProcessed 13 new U.S. FDA Master File cross references for our biopreservation media, bringing the cumulative total processed to 782.Our biopreservation media is embedded in 17 unique commercial CGT's as of March 31, 2025, with expectations that approvals for 10 additional products, geographic expansions, earlier lines of treatment, or new indications will occur in the next 12 months. There was one additional geographic expansion and one new indication for an existing approved therapy in the first quarter. Our CellSeal vials and hPL pro...