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Mar 31, 2022
BioLife Q1 2022 Earnings Report
BioLife Solutions reported strong topline growth and improvements in gross margin and adjusted EBITDA.
Key Takeaways
BioLife Solutions reported a 115% increase in revenue to $36.2 million compared to Q1 2021, with organic revenue growth of 45%. The company affirms its 2022 revenue guidance of $159.5 million to $171.0 million.
Total revenue for the first quarter of 2022 was $36.2 million, an increase of 115% from $16.8 million for the first quarter of 2021, with organic revenue growth of 45%.
Gross margin (GAAP) for the first quarter of 2022 was 29% compared with 52% for the first quarter of 2021.
Operating loss (GAAP) for the first quarter of 2022 was $7.6 million compared with operating loss of $981,000 for the first quarter of 2021.
The company affirms 2022 revenue guidance of $159.5 million to $171.0 million, reflecting year-over-year growth of 34% to 44% and organic growth of 28% to 39%.
BioLife
BioLife
BioLife Revenue by Segment
Revenue by Segment
Cell Processing platform Revenue
CapyFin.com Forward Guidance
Management is affirming 2022 revenue guidance, which is based on expectations for our existing business. Total revenue for 2022 is expected to range from $159.5 million to $171.0 million, reflecting year-over-year growth of 34% to 44% and organic growth of 28% to 39%. Although the company does not provide guidance below the revenue line, we expect positive 2022 full year adjusted EBITDA.
Positive Outlook
- Total revenue for 2022 is expected to range from $159.5 million to $171.0 million.
- Cell Processing platform: $64.0 million to $67.5 million, an increase of 42% to 50% over 2021 and organic growth of 30% to 35%.
- Freezers and Thaw Systems platform: $74.0 million to $77.5 million, an increase of 31% to 37% over 2021 and organic growth of 28% to 39%.
- Total and organic revenue in a range of $21.5 million to $26.0 million, an increase of 22% to 48% over 2021 for Storage and Storage Services platform.
- Expect positive 2022 full year adjusted EBITDA.