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Dec 31, 2020
BioLife Q4 2020 Earnings Report
Reported stellar operational and financial results, gaining over 200 new direct customers and driving adoption of portfolio offerings.
Key Takeaways
BioLife Solutions reported a 78% increase in Q4 total revenue, reaching $14.7 million. Despite the COVID-19 pandemic, the company gained over 200 new direct customers and drove further adoption of its portfolio offerings. The acquisition of SciSafe Holdings, Inc. was completed on October 1, 2020.
Q4 total revenue increased by 78% to $14.7 million.
Biopreservation media revenue increased by 58% to $8.2 million.
Acquired SciSafe Holdings, Inc. on October 1, 2020.
Gained 213 new direct customers across the bioproduction tools and services portfolio.
BioLife
BioLife
Forward Guidance
Total revenue for 2021 is expected to be in the range of $101 million to $110 million, reflecting year-over-year revenue growth of 110% to 129%.
Positive Outlook
- Expected contribution of $35 million to $37 million from the Stirling Ultracold product line.
- Media revenue is expected to be between $38 million and $40 million, reflecting growth of 23% to 29% over 2020 and accounting for approximately 37% of total revenue.
- Freezer and thaw systems revenue is expected to be between $50 million and $54 million, accounting for approximately 50% of total revenue.
- Services revenue is expected to be between $13 million and $16 million, accounting for approximately 13% of total revenue.