BioLife Solutions (BLFS) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue increased 29% year-over-year to $25.4 million, driven by strong cell processing demand and new customer acquisitions in evo and Thaw product lines.

• Adjusted EBITDA margin expanded by 400 basis points to 24%, reflecting operating leverage and an optimized product portfolio.

• Net loss from continuing operations was $15.8 million, primarily due to a $15.5 million immediate IPR&D expense from the PanTHERA acquisition.

• Three major divestitures (Global Cooling, SciSafe, CBS) were completed, focusing the business on higher-margin, recurring revenue streams.

• Strategic investment in Pluristyx and acquisition of PanTHERA support long-term growth and product portfolio expansion.

Financial highlights

• Q2 2025 revenue reached $25.4 million, up 29% year-over-year, with cell processing revenue at $23.0 million, up 28% year-over-year.

• GAAP gross margin was 62% (down from 64% in Q2 2024); adjusted gross margin was 65% (down from 67%).

• Adjusted EBITDA was $6.1 million (24% of revenue), up from $3.9 million (20%) in the prior year.

• GAAP net loss was $15.8 million ($0.33/share), mainly due to the $15.5 million IPR&D expense from PanTHERA.

• Cash and marketable securities totaled $100.2 million at quarter end.

Outlook and guidance

• Full-year 2025 total revenue guidance increased to $100–$103 million (22–25% growth); Cell Processing platform expected to contribute $91–$93 million (24–26% growth).

• Adjusted gross margin for the year expected in the mid-60s; adjusted EBITDA margin expansion anticipated.

• No material revenue expected from PanTHERA in 2025.

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