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Sep 30, 2021
BioLife Q3 2021 Earnings Report
BioLife Solutions experienced significant revenue growth and addressed operational challenges.
Key Takeaways
BioLife Solutions reported a 200% increase in total revenue for Q3 2021 compared to Q3 2020, with organic revenue growth of 37%. The company is addressing operational issues related to Stirling ULT freezers to improve gross margins.
Total revenue increased by 200% compared to Q3 2020.
Organic revenue grew by 37% year-over-year.
Completed the acquisition of Sexton Biotechnologies.
Updated 2021 revenue guidance to $115 million to $119 million.
BioLife
BioLife
BioLife Revenue by Segment
Revenue by Segment
Cell Processing platform Revenue
CapyFin.com Forward Guidance
BioLife updated its 2021 revenue guidance to a range of $115 million to $119 million, reflecting a year-over-year growth of 139% to 147%.
Positive Outlook
- Cell processing platform revenue is expected to be $42 million to $43 million, an increase of 36% to 39% over the prior year.
- Freezers and Thaw Systems platform revenue is expected to be $57 million to $59 million, an increase of 321% to 335% over the prior year.
- Storage and Cold Chain Services platform revenue is expected to be $16 million to $17 million, an increase of 345% to 373% over the prior year.
- Strong demand for proprietary biopreservation media products.
- Focus on reducing cost variances and warranty expense.
Challenges Ahead
- No specific negatives were mentioned in the provided text.