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Jun 30, 2021
BioLife Q2 2021 Earnings Report
Estimated Revenue:$27.6M
+187.9% YoY
Estimated EPS:-$0.07
133.3% YoY
Key Takeaways
BioLife Solutions announced a record quarter with a 215% increase in total revenue compared to Q2 2020. The company's growth was fueled by its bioproduction tools and services, including contributions from recent acquisitions like Stirling Ultracold and SciSafe. They updated their 2021 revenue guidance to $108 million to $117 million.
Total revenue increased by 215% compared to Q2 2020, reaching $31.2 million.
Organic revenue grew by 49% compared to Q2 2020, driven by a 45% increase in media revenue.
The acquisition of Stirling Ultracold contributed $13.3 million to the Freezers and Thaw Systems platform revenue.
Full year revenue guidance was raised to $108 million to $117 million, including expected contribution from Sexton Biotechnologies.
Forward Guidance
BioLife Solutions updated its 2021 revenue guidance to a range of $108 million to $117 million, reflecting a year-over-year growth of 125% to 143%.
Positive Outlook
- Cell processing platform (media and Sexton): $40 million to $42 million, including $2 million from Sexton. This is an increase of 29% to 36% over the prior year.
- Freezers and Thaw Systems: $55 million to $59 million, an increase of 306% to 350% over the prior year.
- Storage and Cold Chain Services platform; $13 million to $16 million, an increase of 262% to 345% over the prior year.
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