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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%.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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