BioLife Q2 revenue falls 3% to $39.5M; net loss $0.23/share; cuts FY guidance; plans freezer divest

BIOLIFE SOLUTIONS INC

2023-Q2 EPS reported -$0.55 revenue$77,210,000

Q2 2023 revenue $39.5M, down 3% YoY; cell processing up 22% but freezers down 26%.
GAAP net loss $10.2M ($0.23 EPS); adjusted EBITDA -$1.2M vs +$1.2M a year ago.
FY2023 revenue guidance lowered to $144M-$158M; previous cell processing guidance $89-93M now $65-74M.
Committed to divest Stirling Ultracold and CBS freezer assets by end of 2023; focus on recurring higher-margin products.
Pro forma H1 2023 revenue ex-freezers $51.5M; adj. gross margin 52%; adj. EBITDA margin 16-18%.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BIOLIFE SOLUTIONS INC updated its second quarter ended June 30, 2023 guidance (reaffirmed).

Period: second quarter ended June 30, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On August 8, 2023, BioLife Solutions, Inc., a Delaware corporation, issued a press release announcing unaudited financial results and operational highlights for the second quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0001628280-23-028201

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