BioLife Solutions Announces Preliminary Fourth Quarter and Full Year 2024 Unaudited Revenue from Continuing Operations
BioLife Solutions (NASDAQ: BLFS) reported preliminary Q4 2024 unaudited revenue from continuing operations of $22.7 million, up 31% from Q4 2023. The company's Cell Processing platform revenue reached $20.3 million in Q4, marking a 37% year-over-year increase and 7% sequential growth.
For full-year 2024, revenue from continuing operations totaled $82.3 million, an 8% increase from 2023. Cell Processing platform revenue grew 12% to $73.5 million, exceeding the high end of previously raised guidance. However, Evo and Thaw platform revenue decreased 14% to $8.7 million.
The company completed strategic divestitures in 2024, selling its freezer business (Global Cooling and Arctic Solutions) and storage business (SciSafe), streamlining operations to focus on the cell and gene therapy market. Including SciSafe's discontinued operations revenue of $18.44 million, total preliminary unaudited revenues reached $100.69 million for 2024.
BioLife Solutions (NASDAQ: BLFS) ha riportato entrate preliminari non verificate per il Q4 2024 da operazioni continuative di 22,7 milioni di dollari, con un incremento del 31% rispetto al Q4 2023. Le entrate della piattaforma di elaborazione cellulare hanno raggiunto i 20,3 milioni di dollari nel Q4, segnando un aumento del 37% anno su anno e una crescita sequenziale del 7%.
Per l'intero anno 2024, le entrate da operazioni continuative hanno totalizzato 82,3 milioni di dollari, con un aumento dell'8% rispetto al 2023. Le entrate della piattaforma di elaborazione cellulare sono cresciute del 12% a 73,5 milioni di dollari, superando il limite superiore delle stime precedentemente innalzate. Tuttavia, le entrate delle piattaforme Evo e Thaw sono diminuite del 14% a 8,7 milioni di dollari.
L'azienda ha completato disinvestimenti strategici nel 2024, vendendo la propria attività di congelamento (Global Cooling e Arctic Solutions) e l'attività di stoccaggio (SciSafe), semplificando le operazioni per concentrarsi sul mercato delle terapie cellulari e geniche. Includendo le entrate delle operazioni discontinue di SciSafe di 18,44 milioni di dollari, le entrate preliminari totali non verificate hanno raggiunto 100,69 milioni di dollari per il 2024.
BioLife Solutions (NASDAQ: BLFS) reportó ingresos preliminares no auditados del cuarto trimestre de 2024 de operaciones continuas de $22.7 millones, un aumento del 31% en comparación con el cuarto trimestre de 2023. Los ingresos de la plataforma de procesamiento celular alcanzaron $20.3 millones en el cuarto trimestre, marcando un aumento del 37% interanual y un crecimiento secuencial del 7%.
Para el año completo 2024, los ingresos de operaciones continuas totalizaron $82.3 millones, un aumento del 8% respecto a 2023. Los ingresos de la plataforma de procesamiento celular crecieron un 12% hasta $73.5 millones, superando el límite superior de las previsiones previamente elevadas. Sin embargo, los ingresos de las plataformas Evo y Thaw disminuyeron un 14% hasta $8.7 millones.
La empresa completó desinversiones estratégicas en 2024, vendiendo su negocio de congeladores (Global Cooling y Arctic Solutions) y su negocio de almacenamiento (SciSafe), optimizando las operaciones para centrarse en el mercado de terapias celulares y génicas. Incluyendo los ingresos de las operaciones discontinuadas de SciSafe de $18.44 millones, los ingresos totales preliminares no auditados alcanzaron $100.69 millones en 2024.
BioLife Solutions (NASDAQ: BLFS)는 2024년 4분기 지속 운영에서 비감사 preliminary 수익이 2천 2백 7십만 달러로, 2023년 4분기 대비 31% 증가했다고 보고했습니다. 회사의 세포 처리 플랫폼에서의 수익은 4분기에 2천 3백만 달러에 도달하여, 지난해 대비 37% 증가, 또한 전 분기 대비 7% 성장했습니다.
2024년 전체 연도에 대한 지속 운영의 수익은 8천 2백 3십만 달러로, 2023년 대비 8% 증가했습니다. 세포 처리 플랫폼의 수익은 12% 증가하여 7천 3백 5십만 달러에 이르렀으며, 이는 이전에 상향 조정된 가이던스의 상단을 초과했습니다. 그러나 Evo 및 Thaw 플랫폼의 수익은 14% 감소하여 8백 7십만 달러에 달했습니다.
회사는 2024년에 전략적 매각을 완료하였으며, 냉동기 사업(글로벌 쿨링 및 아틱 솔루션)과 저장 사업(SciSafe)을 판매함으로써 세포 및 유전자 치료 시장에 집중하기 위해 운영을 간소화했습니다. SciSafe의 중단된 운영 수익 1천 8백 4십4만 달러를 포함 시, 2024년의 총 preliminary 비감사 수익은 1억 6백 9십만 달러에 도달했습니다.
BioLife Solutions (NASDAQ: BLFS) a annoncé des revenus préliminaires non audités pour le quatrième trimestre de 2024 provenant d'opérations continues s'élevant à 22,7 millions de dollars, soit une augmentation de 31 % par rapport au quatrième trimestre de 2023. Les revenus de la plateforme de traitement cellulaire ont atteint 20,3 millions de dollars au quatrième trimestre, marquant une augmentation de 37 % d'une année sur l'autre et une croissance séquentielle de 7 %.
Pour l'ensemble de l'année 2024, les revenus des opérations continues ont totalisé 82,3 millions de dollars, soit une augmentation de 8 % par rapport à 2023. Les revenus de la plateforme de traitement cellulaire ont augmenté de 12 % pour atteindre 73,5 millions de dollars, dépassant le haut de la fourchette des prévisions précédemment rehaussées. Cependant, les revenus des plateformes Evo et Thaw ont diminué de 14 % pour atteindre 8,7 millions de dollars.
L'entreprise a réalisé des désinvestissements stratégiques en 2024, vendant ses activités de congélateurs (Global Cooling et Arctic Solutions) ainsi que son activité de stockage (SciSafe), rationalisant ses opérations pour se concentrer sur le marché des thérapies cellulaires et géniques. En incluant les revenus des opérations discontinuées de SciSafe de 18,44 millions de dollars, les revenus totaux préliminaires non audités ont atteint 100,69 millions de dollars pour 2024.
BioLife Solutions (NASDAQ: BLFS) meldete vorläufige, ungeprüfte Einnahmen aus fortgeführten Betrieben für das 4. Quartal 2024 in Höhe von 22,7 Millionen US-Dollar, was einem Anstieg von 31 % im Vergleich zum 4. Quartal 2023 entspricht. Die Einnahmen der Zellverarbeitungsplattform erreichten im 4. Quartal 20,3 Millionen US-Dollar, was einem Anstieg von 37 % gegenüber dem Vorjahr und einem sequenziellen Wachstum von 7 % entspricht.
Für das Gesamtjahr 2024 betrugen die Einnahmen aus fortgeführten Betrieben insgesamt 82,3 Millionen US-Dollar, was einem Anstieg von 8 % gegenüber 2023 entspricht. Die Einnahmen der Zellverarbeitungsplattform wuchsen um 12 % auf 73,5 Millionen US-Dollar und übertrafen damit die obere Grenze der zuvor angehobenen Prognosen. Die Einnahmen der Evo- und Thaw-Plattformen hingegen sanken um 14 % auf 8,7 Millionen US-Dollar.
Das Unternehmen vollzog im Jahr 2024 strategische Veräußerungen, indem es seine Gefriertherapie (Global Cooling und Arctic Solutions) sowie das Lagergeschäft (SciSafe) verkaufte, um sich auf den Markt für Zell- und Gentherapien zu konzentrieren. Unter Berücksichtigung der nicht fortgeführten Betriebsumsätze von SciSafe in Höhe von 18,44 Millionen US-Dollar beliefen sich die ungeprüften vorläufigen Gesamteinnahmen im Jahr 2024 auf 100,69 Millionen US-Dollar.
- Q4 revenue increased 31% YoY to $22.7M
- Cell Processing revenue grew 37% YoY to $20.3M in Q4
- Full-year revenue up 8% to $82.3M
- Cell Processing platform exceeded guidance with $73.5M revenue
- Five consecutive quarters of sequential revenue growth in Cell Processing
- Evo and Thaw platform revenue declined 14% YoY to $8.7M
- Q4 Evo and Thaw revenue decreased 8% YoY
Insights
The preliminary Q4 and FY2024 results demonstrate notable operational momentum for BioLife Solutions. The 31% YoY revenue growth in Q4 to
The Cell Processing platform, contributing
Integration in 17 approved therapies provides recurring revenue streams and significant barriers to entry. However, the
The strategic repositioning as a pure-play CGT enabler aligns perfectly with market dynamics, as the cell and gene therapy sector is projected for substantial growth. The company's embedded position in 17 approved therapies creates a robust foundation for expansion as more CGT products reach commercialization.
Key competitive advantages emerge from this transformation:
- Streamlined operations focusing solely on high-margin cell processing
- Enhanced market visibility as a pure-play CGT supplier
- Strengthened balance sheet following divestitures
The company's strategic pivot to focus exclusively on CGT enablement represents a significant market opportunity. With 17 approved therapies already utilizing BioLife's biopreservation solutions, the company is well-positioned to capture value from the expanding CGT pipeline. The
The divestiture of non-core assets (freezer and biostorage businesses) allows for concentrated investment in CGT-focused innovation and customer support. This specialization is important as the CGT market matures and demands increasingly sophisticated processing solutions. The potential for additional therapy approvals in 2025 could further accelerate growth trajectories.
Fourth quarter Cell Processing revenue increased
Unaudited revenue for FY2024 from Cell Processing of
Roderick de Greef, Chairman and CEO, commented, "2024 was a transformative year for BioLife Solutions, marked by solid execution and strategic clarity. We exceeded the upper end of our previously raised revenue guidance for cell processing, with the fourth quarter representing our fifth consecutive quarter of sequential revenue growth for this platform. The divestiture of our freezer and biostorage businesses further streamlined our operations and sharpened our focus as a leading pure-play enabler in the CGT market, positioning BioLife to meet the demands of this rapidly growing modality."
de Greef continued, "Our biopreservation solutions, embedded in 17 approved therapies, highlight our essential role in enabling lifesaving therapies and we expect that to accelerate as the sector continues to mature. As we look to 2025, the momentum in our core business coupled with our fortified balance sheet positions us to deliver sustainable growth and profitability, expand and deepen customer relationships, and create long-term value for our shareholders. We look forward to providing additional detail regarding our 2024 financial performance and outlook for 2025 on our earnings call in February."
Fourth Quarter and Full Year 2024 Preliminary Unaudited Revenue for Continuing Operations
- Preliminary and unaudited revenue for continuing operations for the fourth quarter of 2024 was
$22.7 million 31% from$17.4 million - Cell processing platform revenue was
$20.3 million $5.5 million 37% , over the same period in 2023, and up7% sequentially over the third quarter of 2024. - Evo and Thaw platform revenue was
$2.4 million $0.2 million 8% , from the same period in 2023.
- Cell processing platform revenue was
- Preliminary and unaudited revenue from continuing operations for the full year 2024 was
$82.3 million 8% from$75.9 million - Cell processing platform revenue was
$73.5 million $7.8 million 12% , from 2023. - Evo and Thaw platform revenue was
$8.7 million $1.4 million 14% , from 2023.
- Cell processing platform revenue was
Reconciliation of Full Year 2024 Revenue Guidance to Preliminary Unaudited Revenue for Continuing Operations
During the fiscal year ended December 31, 2024, the Company divested its freezer business through the previously disclosed sales of its former subsidiaries Global Cooling, Inc. ("GCI") in April 2024 and Arctic Solutions, Inc. (doing business as Custom Biogenics Systems) ("CBS") in November 2024. The Company also divested its storage business through the previously disclosed sale of its former subsidiary SciSafe, Inc. ("SciSafe") in November 2024. Each of the divested businesses previously qualified as a discontinued operation.
As disclosed in our earnings release of November 12, 2024, our revenue guidance for fiscal year 2024 did not include anticipated results from GCI or CBS for that period. Our revenue guidance for fiscal year 2024 did include anticipated results from SciSafe for fiscal year 2024.
The table below reconciles our preliminary unaudited revenue from continuing operations as disclosed herein, plus preliminary unaudited revenue from the discontinued operations of SciSafe for fiscal year 2024 (through the date of its divestiture), to our previously announced revenue guidance range that included anticipated fiscal year 2024 results from SciSafe.
Product line | Preliminary (a) | Preliminary (b) | Preliminary (a) + (b) | Previously | Difference $ | Difference | |||||
Cell Processing | $ 73,535 | $ — | $ 73,535 | ||||||||
Evo and Thaw | 8,719 | — | 8,719 | ||||||||
SciSafe | — | 18,440 | 18,440 | ||||||||
Total Biostorage | 8,719 | 18,440 | 27,159 | ||||||||
Total | $ 82,254 | $ 18,440 | $ 100,694 |
(1) Column includes revenue from SciSafe through the date of its divestiture, which will be disclosed in the footnotes of our Form 10-K as a key component of the gain/loss from discontinued operations. This amount does not include revenues from GCI or CBS. |
About BioLife Solutions
BioLife Solutions is a leading supplier of cell processing tools and services for the cell and gene therapy (CGT) market. Our expertise facilitates the commercialization of new therapies by supplying solutions that maintain the health and function of biologic materials during collection, development, storage and distribution. For more information, please visit www.biolifesolutions.com, and follow BioLife on LinkedIn and X.
Cautions Regarding Forward Looking Statements
Certain statements contained in this press release 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
Media & Investor Relations
At the Company
Troy Wichterman
Chief Financial Officer
(425) 402-1400
twichterman@biolifesolutions.com
Investors
Alliance Advisors IR
Jody Cain
(310) 691-7100
jcain@allianceadvisors.com
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SOURCE BioLife Solutions, Inc.
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