BioLife Q4 2021 Earnings Report
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.
BioLife
BioLife
BioLife 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.