BioLife Solutions Q3 revenue falls 18% YoY; net loss widens to $29.1M on $15.5M impairment

BIOLIFE SOLUTIONS INC

2023-Q3 EPS reported -$1.22 revenue$110,538,000

Total revenue $33.3M, down 18% YoY; ex-COVID revenue down 10%.
GAAP net loss $29.1M ($0.67 EPS) vs $10.3M loss in Q3 2022; includes $15.5M non-cash impairment.
Biostorage and Services ex-COVID revenue grew 50% YoY; cell processing revenue down 26%.
Cash $42.2M at quarter end; raised $10.4M via share sale in October 2023.
FY2023 revenue guidance narrowed to low end of $144-158M; freezer divestiture expected in early 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

BIOLIFE SOLUTIONS INC reported third quarter ended September 30, 2023 results: revenue $33.3 million, net income Net loss (GAAP) for the third quarter of 2023 was $29.1 million, EPS Loss per share (GAAP) for the third quarter of 2023 was $0.67. Guidance reaffirmed.

Period: third quarter ended September 30, 2023
Revenue: $33.3 million
Net income: Net loss (GAAP) for the third quarter of 2023 was $29.1 million
EPS: Loss per share (GAAP) for the third quarter of 2023 was $0.67
Guidance: reaffirmed
Result: reported results

Exact text from the filing

news release. 3303 Monte Villa Parkway, Suite 310 | Bothell, WA 98021 USA | 866.424.6543 phone | BioLifeSolutions.com REVENUE • Total revenue for the third quarter of 2023 was $33.3 million, a decrease of $7.4 million, or 18%, from $40.7 million for the third quarter of 2022. There was no COVID related revenue in the third quarter of 2023. Ex-COVID related revenue

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Source: SEC EDGAR

accession 0001628280-23-038225

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