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Dec 31, 2022
BioLife Q4 2022 Earnings Report
BioLife Solutions reported a revenue increase of 19% year-over-year, driven by growth in cell processing and biopreservation media.
Key Takeaways
BioLife Solutions reported Q4 2022 revenue of $44.3 million, a 19% increase year-over-year. The company reported an adjusted EBITDA of $1.7 million for the quarter and ended the year with $64.1 million in cash and short-term investments. The company reaffirms 2023 revenue guidance of $188 million to $202 million.
Q4 2022 revenue increased by 19% year-over-year to $44.3 million.
Biopreservation media revenue grew by 35%.
Adjusted EBITDA for Q4 2022 was $1.7 million.
The company gained 217 new customers in Q4 2022.
BioLife
BioLife
BioLife Revenue by Segment
Revenue by Segment
Cell Processing platform Revenue
CapyFin.com Forward Guidance
BioLife Solutions reaffirms 2023 revenue guidance, which is based on expectations for its existing business. Total revenue for 2023 is expected to range from $188 million to $202 million, reflecting year-over-year growth of 16% to 25%.
Positive Outlook
- Approvals of new cell and gene therapies
- Additional approvals of commercial CGT in new geographies
- Additional approvals of CGT in new indications
- Migration of commercial therapies to first or second-line treatment
- An eventual transition to allogeneic therapies