NASDAQ$BLFS
BioLife Solutions Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
BioLife Solutions reported financial results for Q2 2024, showing sequential revenue growth and increased adjusted EBITDA.
BioLife Solutions reported Q2 2024 financial results with a total revenue of $28.3 million, a decrease of 3% year-over-year, but up 6% sequentially. The company's cell processing platform revenue was $18.0 million, down 4% year-over-year but up 11% sequentially. GAAP gross margin was 51%, and non-GAAP adjusted EBITDA was $4.8 million, or 17% of revenue. The company raised its full-year 2024 total revenue guidance to $99.0 million to $101.0 million.
- Total revenue for the second quarter of 2024 was $28.3 million, a decrease of 3% from the second quarter of 2023, but an increase of 6% sequentially from the first quarter of 2024.
- Cell Processing platform revenue was $18.0 million, a decrease of 4% from the same period in 2023, but up 11% sequentially from the first quarter of 2024.
- GAAP gross margin for the second quarter of 2024 was 51%, compared to 35% for the second quarter of 2023.
- Adjusted EBITDA for the second quarter of 2024 was $4.8 million, or 17% of revenue, compared to $1.7 million, or 6% of revenue, for the second quarter of 2023.
Headline financials
Revenue & EPS history
BioLife · Revenue · Quarterly
$28.3M
Revenue by segment
BioLife · $22.7M total across 2 segments · Q4 2024
- Cell Processing platform$20.3M—89.4%
- evo and Thaw platform$2.4M—10.6%
Forward guidance
BioLife Solutions updated its 2024 revenue guidance to $99.0 million to $101.0 million. Cell Processing platform revenue is revised to $70.0 million to $71.0 million, and Biostorage Services platform revenue is revised to $29.0 million to $30.0 million.
Tailwinds
- Total revenue guidance raised to $99.0 million - $101.0 million.
- Cell Processing platform revenue revised to $70.0 million - $71.0 million, representing a 6-8% increase compared to 2023.
- Cell Processing platform growth is expected to be 25-26% compared with annualizing the second half of 2023 revenue run rate.
- Biostorage Services platform revenue revised to $29.0 million - $30.0 million, representing a 3-7% increase compared to 2023.
- Management expects full year positive adjusted EBITDA and adjusted EBITDA growth in 2024.
Headwinds
- Revised Biostorage Services platform guidance represents a smaller increase compared to previous expectations.
- Total revenue for the second quarter of 2024 decreased by 3% compared to the second quarter of 2023.
- Cell Processing platform revenue decreased by 4% compared to the same period in 2023.
- The revised Biostorage Services platform guidance represents an increase of 3% to 7% compared with 2023. Without ThawSTAR, the growth rate is expected to be 8% to 12%.
- Net loss from continuing operations for the second quarter of 2024 was $7.1 million, including a $4.1 million write-off of iVexSol equity investment.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+0.1%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+4.3%
Avg return
30 days after
44%
22 / 50 earnings
Positive
+21.4%
Q3 2022
Best reaction
-34.5%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +6.3% | -2.4% | +22.4% | |
| Q4 2025 | +8.0% | -8.1% | -17.3% | |
| Q3 2025 | -4.2% | -4.1% | -5.8% | |
| Q2 2025 | +10.0% | +24.4% | +28.2% | |
| Q1 2025 | +4.0% | -1.4% | +6.0% | |
| Q4 2024 | +2.1% | +7.6% | -0.9% | |
| Q3 2024 | -9.4% | -21.0% | +0.5% | |
| Q2 2024 | +14.5% | +20.3% | +7.9% | |
| Q1 2024 | +8.9% | +25.0% | +13.2% | |
| Q4 2023 | +5.1% | -0.5% | +8.5% | |
| Q3 2023 | -5.7% | +3.1% | +14.2% | |
| Q2 2023 | -29.7% | -34.9% | -30.3% | |
| Q1 2023 | -2.9% | +3.5% | +20.6% | |
| Q4 2022 | +0.2% | +2.7% | -7.4% | |
| Q3 2022 | +21.4% | +14.1% | -4.6% | |
| Q2 2022 | +13.7% | +15.7% | +25.6% | |
| Q1 2022 | -3.8% | +1.6% | +18.3% | |
| Q4 2021 | -0.3% | +0.9% | -3.7% | |
| Q3 2021 | -6.0% | +5.2% | -30.3% | |
| Q2 2021 | -1.8% | -3.9% | +12.0% | |
| Q1 2021 | -2.1% | +4.8% | +25.1% | |
| Q4 2020 | +8.3% | -7.8% | -14.7% | |
| Q3 2020 | +5.8% | +0.8% | +21.6% | |
| Q2 2020 | +0.3% | -5.4% | +5.6% | |
| Q1 2020 | +3.0% | +10.5% | +1.5% | |
| Q4 2019 | -34.5% | -36.7% | -27.8% | |
| Q3 2019 | -12.8% | -8.8% | -7.4% | |
| Q2 2019 | -6.2% | +1.1% | +7.7% | |
| Q1 2019 | -2.4% | +4.5% | +8.8% | |
| Q4 2018 | +10.7% | +19.4% | +5.5% | |
| Q3 2018 | +15.0% | -8.0% | -7.8% | |
| Q2 2018 | -4.8% | -1.0% | +2.3% | |
| Q1 2018 | -3.7% | +7.6% | +23.5% | |
| Q4 2017 | -4.4% | -10.2% | +22.4% | |
| Q3 2017 | +18.0% | +21.6% | +8.2% | |
| Q2 2017 | +3.8% | +8.2% | +30.6% | |
| Q1 2017 | +3.7% | -1.4% | +7.8% | |
| Q4 2016 | -5.0% | -9.5% | -7.7% | |
| Q3 2016 | +0.7% | +2.7% | +5.4% | |
| Q2 2016 | -2.4% | -7.7% | -15.9% | |
| Q3 2012 | +10.0% | — | — | |
| Q1 2012 | +0.0% | — | — | |
| Q4 2011 | +0.0% | — | — | |
| Q3 2011 | +0.0% | — | — | |
| Q2 2011 | -14.3% | — | — | |
| Q1 2011 | +0.0% | — | — | |
| Q4 2010 | -11.1% | — | — | |
| Q3 2010 | +0.0% | — | — | |
| Q2 2010 | +0.0% | — | — | |
| Q1 2010 | +0.0% | — | — |
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