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Dec 31, 2021
BioLife Q4 2021 Earnings Report
BioLife Solutions reported a significant increase in revenue for Q4 2021, driven by strong organic growth and contributions from recent acquisitions, but faced challenges with gross margin due to supplier issues and warranty accruals.
Key Takeaways
BioLife Solutions reported record quarterly revenue of $37.3 million, a 153% increase over Q4 2020, with organic revenue growth of 64%. The company's gross margin was impacted by issues related to the acquisition of Global Cooling, including increased warranty accruals and supply chain surcharges.
Total revenue increased by 153% compared to Q4 2020, reaching $37.3 million.
Organic revenue growth was 64% for the quarter.
Gross margin was 15%, impacted by issues related to the Global Cooling acquisition.
The company provided initial 2022 revenue guidance of $159.5 million to $171 million.
Revenue by Segment
Forward Guidance
Total revenue for 2022 is expected to range from $159.5 million to $171.0 million, reflecting year-over-year growth of 34% to 44% and organic growth of 28% to 39%.
Positive Outlook
- Cell processing platform: $64.0 million to $67.5 million, an increase of 42% to 50% over 2021 and organic growth of 30% to 35%.
- Freezers and Thaw Systems platform: $74.0 million to $77.5 million, an increase of 31% to 37% over 2021 and organic growth of 28% to 39%.
- Storage and Storage Services platform: $21.5 million to $26.0 million, an increase of 22% to 48% over 2021 and organic growth of 22% to 48%.
- Expects positive 2022 full year adjusted EBITDA.
- COVID-19 related revenue is expected to account for approximately 8% to 9% of total revenue.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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