BioLife Solutions (NASDAQ: BLFS) reported Q4 EPS of ($0.01), $0.01 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $14.73 million versus the consensus estimate of $13.5 million.

Fourth Quarter 2020 Highlights

• Acquired SciSafe Holdings, Inc., which became a wholly owned subsidiary of the Company on October 1, 2020. Management now estimates that SciSafe will contribute revenue of at least $12 million in 2021, up from previous expectations of $9 million.
• Biopreservation media revenue was $8.2 million, an increase of 58% compared with the same period in 2019.
• Gained 213 new direct customers including 63 using biopreservation media, 29 using ThawSTAR® systems, 43 using evo® cold chain management services, 73 using CBS freezers and accessories, and 5 using biologic storage services.
• Processed 75 new U.S. FDA Drug Master File cross-reference requests, indicating the planned use of CryoStor® or HypoThermosol® in pending cell and gene therapy clinical trials. To date, the Company's biopreservation media products have been incorporated into more than 450 customer clinical applications.

Mike Rice, BioLife President & CEO, commented, "Despite the COVID-19 pandemic, the BioLife team delivered another quarter and year of stellar operational and financial results. We gained more than 200 new direct customers across our bioproduction tools and services portfolio and more than 3,500 new indirect media customers that sourced our products from distributors. We also drove further adoption of all our other portfolio offerings within the cell and gene therapy space.

"With our acquisition of Stirling Ultracold announced earlier today, we expect to surpass our goal of $100 million in total revenue this year and expect to reach $250 million in total revenue in the next three to four years."

For earnings history and earnings-related data on BioLife Solutions (BLFS) click here.