BioLife Q2 2020 Earnings Report
Key Takeaways
BioLife Solutions reported a 48% increase in total revenue for Q2 2020, reaching $9.9 million, driven by acquisitions completed in the second half of 2019. Biopreservation media accounted for 67% of the total revenue. The company gained 88 new customers in the first half of 2020 and raised $106 million year-to-date to support its consolidation strategy.
Total revenue increased by 48% to $9.9 million compared to Q2 2019.
Biopreservation media revenue was $6.7 million, representing 67% of total revenue.
The company gained 48 new customers during the quarter.
Raised gross proceeds of $86 million through an oversubscribed public offering of common stock subsequent to the quarter close.
BioLife
BioLife
BioLife Revenue by Segment
Forward Guidance
Due to uncertainty regarding the impact of COVID-19, the Company withdrew its financial guidance for 2020 on May 1, 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income