BioLife Solutions Q1 revenue up 4% to $37.7M; net loss widens, explores sale of freezer lines

BIOLIFE SOLUTIONS INC

2024-Q1 EPS reported -$0.32 revenue$37,703,000

Revenue $37.7M (+4% YoY); ex-COVID growth 16%; biopreservation media revenue +28%.
GAAP net loss $13.7M (-$0.32/share) vs $7.4M loss in Q1 2022; adjusted EBITDA -$1.9M.
Adjusted gross margin improved to 37% from 32% in Q4 2022; GAAP gross margin 35%.
Exploring strategic alternatives for ULT cryogenic freezer businesses, including potential divestitures.
Affirmed FY2023 revenue guidance $188-$202M (16-25% YoY growth); Q4'24 aspirational targets reaffirmed.

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