Fourth quarter 2025 revenue from continuing operations of $24.8 million, up 20% year-over-year; Full year 2025 revenue of $96.2 million, up 29% year-over-year
GAAP gross margin of 63% and non-GAAP adjusted gross margin of 64% for the fourth quarter
GAAP net income of $2.1 million or $0.04 per share and adjusted EBITDA of $6.9 million, or 28% of total revenue for the fourth quarter
Expects 2026 revenue growth of $112.5 million to $115.0 million, up 17%-20% over 2025
Conference call begins at 4:30 p.m. Eastern time today
BOTHELL, Wash., Feb. 26, 2026 /PRNewswire/ -- BioLife Solutions, Inc. (Nasdaq: BLFS) ("BioLife" or the "Company"), a leading developer and supplier of cell processing tools and services for the cell and gene therapy ("CGT") market, today announced financial results for the fourth quarter and full year 2025, and introduced 2026 financial guidance.
"2025 was a transformative year for BioLife. We delivered 29% revenue growth, led by sustained strength in our biopreservation media franchise and completed a strategic divestiture that firmly established BioLife as a focused, pure-play cell processing company centered on high-value, recurring revenue. With a streamlined cost structure and a scaled core business, we are now realizing the operating leverage inherent in our model." said Roderick de Greef, BioLife's Chairman and CEO. "Looking to 2026, we expect growth across our portfolio, operating margin expansion, continued improvement in adjusted EBITDA, and full year GAAP profitability.
"Continued growth of the CGT end market -- including new, unique therapy approvals, geographic expansions, a shift to earlier lines of treatment and additional indications for approved therapies -- will further embed our gold-standard tools into more commercial therapies that drive demand. An improving biotech funding environment, strategic investment by large pharma, and ongoing clinical progress underscore this market's long-term attractiveness and provides a meaningful opportunity ahead for BioLife," he added.
Fourth Quarter 2025 Business Highlights
-- Our biopreservation media is utilized in approximately 250 ongoing
commercially sponsored CGT clinical trials in the U.S., representing a
more than 70% market share. This includes over 30 Phase III trials, or
nearly 80% of the late-stage CGT trials. Our CellSeal$(R)$ vials and human
platelet lysate ("hPL") products are used in over 35 clinical trials.
-- Our biopreservation media is embedded in 16 unique commercial CGT
products as of December 31, 2025, with expectations for 7 additional
product approvals, including 5 unique therapies, geographic expansions,
earlier lines of treatment, or new indications over the next 12 months.
Our CellSeal cryogenic vials and hPL products are embedded into four
approved therapies.
-- On October 6, 2025, we completed the sale of evo, a previously wholly
owned subsidiary operated under SAVSU Cleo Technologies, LLC (formerly
known as SAVSU Technologies, Inc.), for an aggregate sales price of $25.5
million in cash.
Fourth Quarter and Full Year 2025 Financial Results from Continuing Operations
BioLife is presenting various financial metrics under U.S. generally accepted accounting principles (GAAP) and as adjusted (non-GAAP). BioLife completed the divestitures of evo in 2025 and Global Cooling, Inc., SciSafe, Inc. and Custom Biogenic Systems in 2024, and is presenting the below results as discontinued operations for all periods presented. All amounts, percentages, and disclosures for all periods presented in this press release reflect only the continuing operations of the Company unless otherwise noted.
REVENUE
-- Total revenue for the fourth quarter of 2025 was $24.8 million, an
increase of $4.0 million, or 20%, from $20.7 million for the fourth
quarter of 2024.
-- Total revenue for 2025 was $96.2 million, an increase of $21.6 million,
or 29%, from $74.6 million for 2024.
GROSS MARGIN
-- Gross margin (GAAP) for the fourth quarter of 2025 was 63% compared with
66% for the fourth quarter of 2024. Adjusted gross margin (non-GAAP) for
the fourth quarter of 2025 was 64% compared with 67% for the fourth
quarter of 2024.
-- Gross margin (GAAP) for 2025 was 65% compared with 67% for 2024. Adjusted
gross margin (non-GAAP) for 2025 was 66% compared with 69% for 2024.
OPERATING LOSS
-- Operating loss (GAAP) for the fourth quarter of 2025 was $0.1 million,
compared with $1.2 million for the fourth quarter of 2024. Adjusted
operating income (non-GAAP) for the fourth quarter of 2025 was $0.9
million compared with adjusted operating loss (non-GAAP) of $0.2 million
for the fourth quarter of 2024.
-- Operating loss (GAAP) for 2025 was $16.6 million, compared with $4.5
million for 2024. Adjusted operating income (non-GAAP) for 2025 was $2.9
million compared with adjusted operating loss (non-GAAP) of $2.6 million
for 2024.
NET INCOME / (LOSS)
-- Net income (GAAP) for the fourth quarter of 2025 was $2.1 million,
compared with net loss of $1.2 million for the fourth quarter of 2024.
Adjusted net income (non-GAAP) for the fourth quarter of 2025 was $1.9
million compared with adjusted net loss (non-GAAP) of $0.1 million for
the fourth quarter of 2024.
-- Net loss (GAAP) for 2025 was $12.1 million, compared with $8.8 million
for 2024. Adjusted net income (non-GAAP) for 2025 was $6.3 million
compared with adjusted net loss (non-GAAP) of $2.9 million for 2024.
NET INCOME / (LOSS) PER SHARE
-- Net income per share (GAAP) for the fourth quarter of 2025 was $0.04,
compared with net loss per share of $0.03 for the fourth quarter of 2024.
-- Net loss per share (GAAP) for 2025 was $0.25, compared with $0.19 for
2024.
ADJUSTED EBITDA
-- Adjusted EBITDA, a non-GAAP measure, for the fourth quarter of 2025 was
$6.9 million, or 28% of revenue, compared with $3.7 million, or 18% of
revenue, for the fourth quarter of 2024.
-- Adjusted EBITDA, a non-GAAP measure, for 2025 was $25.0 million, or 26%
of revenue, compared with $13.3 million, or 18% of revenue, for 2024.
CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES
-- Cash, cash equivalents, and marketable securities as of December 31,
2025, were $120.2 million. The Company received net proceeds of $23.5
million in cash from the sale of evo during October 2025.
(As a result of presenting amounts in millions, rounding differences may exist
in the percentages above.)
2026 Financial Guidance
BioLife is introducing 2026 financial guidance as follows:
-- Revenue of $112.5 million to $115.0 million, representing growth of 17%
to 20% compared with 2025 revenue from continuing operations;
-- Gross margin (GAAP) in the mid-60% range, adjusted gross margin
(non-GAAP) in the mid-60% range;
-- Net income (GAAP) for the full year; and
-- Continued expansion of adjusted EBITDA margin (non-GAAP).
Conference Call & Webcast
Management will discuss the Company's financial results, provide a general business update and answer questions during a conference call and live webcast today at 4:30 p.m. ET (1:30 p.m. PT).
To access the webcast, log onto the Investor Relations page of the BioLife website at https://www.biolifesolutions.com/earnings. In addition, the conference call will be accessible by dialing toll-free 1-833-630-0431 or 1-412-317-1808 for international callers. A webcast replay will be available approximately two hours after the call ends and will be archived on https://investors.biolifesolutions.com/ for 90 days.
About BioLife Solutions
BioLife is a leading developer and supplier of cell processing tools and services for the CGT market. Our expertise facilitates the commercialization of new therapies by supplying solutions that maintain the health and function of biologic materials during the collection, development, manufacturing and distribution. For more information, please visit www.biolifesolutions.com, and follow BioLife on LinkedIn and X.
Cautions Regarding Forward Looking Statements
Certain statements contained in this press release are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "plans," "expects," "believes," "anticipates," "designed," "may," "estimate," "guidance," and similar words are intended to identify forward-looking statements. Forward-looking statements are based on our current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A description of certain of these risks, uncertainties and other matters can be found in filings we make with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by us. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events.
Non-GAAP Measures of Financial Performance
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