---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-022218"
form_type: "8-K"
ticker: "BLFS"
cik: "0000834365"
company_name: "BIOLIFE SOLUTIONS INC"
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T07:49:15.509380+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# BioLife Q1 net loss $10.2M; revenue down 16% YoY; divests GCI freezer unit, reaffirms 2024 guidance

## Summary
- Q1 total revenue $31.7M (-16% YoY); Cell Processing $16.2M (+10% seq), Biostorage $7.1M (+25% YoY), Freezers $8.4M (-35% YoY).
- GAAP net loss $10.2M ($0.22 loss per share); adjusted EBITDA -$1.2M; pro forma ex-GCI adj. EBITDA +$3.6M (13% of revenue).
- Closed sale of GCI freezer business Apr 17; funded $4.9M cash into GCI and repaid $2.6M debt to facilitate transaction.
- Affirms FY24 revenue guidance $95.5M-$100.0M (ex-freezers); expects full-year positive adjusted EBITDA.

## SEC filing metadata
- accession: 0001628280-24-022218
- form_type: 8-K
- ticker: BLFS
- cik: 0000834365
- company_name: BIOLIFE SOLUTIONS INC
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/834365/000162828024022218/0001628280-24-022218-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/834365/000162828024022218/blfs-20240509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-022218
- JSON: https://secwatch.observer/filing/0001628280-24-022218.json
- Plain text: https://secwatch.observer/filing/0001628280-24-022218.txt

## Key facts
- Earnings Releases
  BIOLIFE SOLUTIONS INC reported first quarter ended March 31, 2024 results: revenue $31.7 million, net income $10.2 million, EPS $0.22. Guidance reaffirmed.
  - Period: first quarter ended March 31, 2024
  - Revenue: $31.7 million
  - Net income: $10.2 million
  - EPS: $0.22
  - Guidance: reaffirmed
  - Result: reported results
  source text: 51 % Adjusted Gross Margin 53 % Net Loss $ (4,453) Adjusted EBITDA $ 3,583 Adjusted EBITDA as a % of Revenue 13 % REVENUE • Total revenue for the first quarter of 2024 was $31.7 million, a decrease of $6.0 million, or 16%, from $37.7 million for the first quarter of 2023 and down $1.0 million, or 3%, sequentially from the fourth quarter of 2023. ◦ Cell
  evidence_url: https://www.sec.gov/Archives/edgar/data/834365/000162828024022218/0001628280-24-022218-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.