secwatch.observer — SEC 8-K summary
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Issuer:     BIOLIFE SOLUTIONS INC (BLFS)
CIK:        0000834365
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001628280-24-022218
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/834365/000162828024022218/0001628280-24-022218-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/834365/000162828024022218/blfs-20240509.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-022218

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