BioLife Solutions (BLFS) investor relations material

Executive summary

• Q1 2026 revenue grew 25% year-over-year to $27.5 million, driven by strong demand for biopreservation media (BPM) and cell processing tools.

• GAAP net income was $1.2 million ($0.02 per share), up from $0.3 million ($0.01 per share) in Q1 2025.

• Adjusted EBITDA increased 15% year-over-year to $6.2 million, representing 22% of revenue.

• BPM accounted for over 82% of total revenue, with top 20 customers representing 80% of BPM revenue.

• The business is focused on high-margin, recurring revenue streams and expanding its CGT workflow product portfolio.

Financial highlights

• Q1 2026 GAAP gross margin was 64%, down from 67% in Q1 2025, mainly due to product mix shift and manufacturing yield issues.

• GAAP operating expenses rose to $17.5 million, driven by increased R&D and personnel costs.

• Cash and marketable securities were $111.5 million as of March 31, 2026.

• Net cash used in operating activities was $0.49 million in Q1 2026.

• Weighted average shares outstanding for diluted EPS: 49.2 million.

Outlook and guidance

• 2026 revenue guidance affirmed at $112.5–$115 million, representing 17–20% growth.

• Full-year GAAP and adjusted gross margin expected in the mid-60s, with margin expansion anticipated as yield issues are resolved.

• Expectation to achieve full-year positive GAAP net income for the first time in many years.

• Management expects current liquidity to be sufficient for at least the next twelve months.