BioLife Solutions (NASDAQ: BLFS) reported Q2 EPS of ($0.50), $0.36 worse than the analyst estimate of ($0.14). Revenue for the quarter came in at $28.3 million versus the consensus estimate of $23.95 million.

GUIDANCE:

BioLife Solutions sees FY2024 revenue of $99-101 million, versus the consensus of $106.2 million. This guidance is based on expectations for BioLife\'s Cell Processing and Biostorage Services platforms, which now include results from its ThawSTAR® product line and do not include revenue from the freezer product line (GCI and CBS).

Cell Processing platform revenue: Revised to $70.0 million to $71.0 million from prior guidance of $66.0 million to $68.5 million. The revised guidance represents an increase of 6% to 8% compared with 2023. Compared with annualizing the second half of 2023 revenue run rate, growth is expected to be 25% to 26%
Biostorage Services platform revenue: Revised to $29.0 million to $30.0 million from prior guidance of $29.5 million to $31.5 million. The revised guidance represents an increase of 3% to 7% compared with 2023. This platform now includes the ThawSTAR automated thawing product line. Without ThawSTAR, the growth rate is expected to be 8% to 12%.

Management expects full year positive adjusted EBITDA and adjusted EBITDA growth in 2024.

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