BioLife Solutions, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:17 pm EST
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BioLife Solutions, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 2.06 million compared to USD 2.75 million a year ago. Revenue was USD 33.33 million compared to USD 40.75 million a year ago. Net loss was USD 29.13 million compared to USD 10.32 million a year ago. Basic loss per share from continuing operations was USD 0.67 compared to USD 0.24 a year ago.
For the nine months, sales was USD 5.98 million compared to USD 8.16 million a year ago. Revenue was USD 110.54 million compared to USD 117.5 million a year ago. Net loss was USD 53.05 million compared to USD 90.62 million a year ago. Basic loss per share from continuing operations was USD 1.22 compared to USD 2.14 a year ago.
BioLife Solutions, Inc. is a supplier of cell processing tools and services for the cell and gene therapy (CGT) and broader biopharma markets. Its expertise facilitates the commercialization of new therapies by supplying solutions that maintain the health and function of biologic materials during collection, development, storage and distribution. Its biopreservation media products, HypoThermosol FRS and CryoStor Freeze Media, are formulated to mitigate preservation-induced, delayed-onset cell damage and death which result when cells and tissues are subjected to reduced temperatures. Its bioproduction tools portfolio includes human platelet lysates for cell expansion. It is a provider of biological and pharmaceutical storage and cold chain logistics. Its monitoring systems allow customers real time tracking of the storage temperatures of their materials throughout the logistics process. It operates about five storage facilities in the United States and one facility in the Netherlands.
BIOLIFE SOLUTIONS, INC. 
