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Mar 31, 2021
BioLife Q1 2021 Earnings Report
BioLife Solutions achieved record quarterly revenue driven by growth across all platforms and strategic acquisitions.
Key Takeaways
BioLife Solutions reported record first-quarter revenue of $16.8 million, a 39% increase year-over-year. The company gained 80 new customers and saw strong performance across its biopreservation media, freezer & thaw, and biostorage platforms. Full year revenue guidance was raised to $106 to $115 million.
Total revenue reached a record $16.8 million, a 39% increase year-over-year.
The company acquired 80 new customers in Q1 2021.
Revised full-year revenue guidance to $106 million to $115 million.
Completed the acquisition of Stirling Ultracold.
BioLife
BioLife
Forward Guidance
BioLife updated its 2021 revenue guidance, expecting total revenue to range from $106 million to $115 million.
Positive Outlook
- Total revenue for 2021 is expected to range from $106 million to $115 million, reflecting year-over-year growth of 120% to 129%.
- Expected contribution from the Global Cooling product line of $40 million to $42 million.
- Media platform revenue is expected to be between $38 million and $40 million, reflecting growth of 23% to 29% over 2020.
- Freezer and thaw platform revenue is expected to be between $55 million and $59 million.
- Biostorage services and shipping platform revenue is expected to be between $13 million and $16 million.