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Sep 30, 2020
BioLife Q3 2020 Earnings Report
Revenue increased significantly, driven by biopreservation media sales and acquisitions.
Key Takeaways
BioLife Solutions reported a strong third quarter with a 71% increase in total revenue compared to the prior year. The growth was fueled by increased biopreservation media sales and recent acquisitions. The company also gained 56 new customers and expanded its product offerings with the acquisition of SciSafe.
Total revenue increased by 71% to $11.3 million compared to Q3 2019.
Biopreservation media revenue increased by 22% compared to Q3 2019, accounting for 66% of total revenue.
56 new customers were gained across the business.
SciSafe acquisition was completed, expected to contribute at least $9 million in revenue in 2021.
BioLife
BioLife
BioLife Revenue by Segment
Revenue by Segment
Cell Processing platform Revenue
CapyFin.comevo and Thaw platform Revenue
CapyFin.com Forward Guidance
Due to uncertainty regarding the impact of the COVID-19 pandemic on BioLife and its customers, on May 1, 2020 the Company withdrew its financial guidance for 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income