BioLife Solutions (BLFS) Q4 2025 earnings summary

Executive summary

• Achieved double-digit revenue growth, operating margin expansion, and improved profitability in 2025, driven by strategic transformation and portfolio optimization.

• Achieved fourth quarter 2025 revenue of $24.8 million, up 20% year-over-year; full year 2025 revenue reached $96.2 million, up 29% year-over-year.

• Divested evo product line/subsidiary, resulting in a simpler, more focused business with a strong balance sheet and $25.5 million in cash proceeds.

• Positioned as a market leader in biopreservation media (BPM) with products embedded in 16 approved/commercial therapies and over 250 CGT trials in the U.S., holding over 70% market share in U.S. CGT clinical trials.

• Entered a strategic distribution and product development agreement with Qkine Limited for cytokines, complementing the hPL product line.

Financial highlights

• Full year 2025 revenue grew 29% year-over-year to $96.2 million, at the high end of guidance.

• Q4 2025 revenue was $24.8 million, up 20% year-over-year.

• Adjusted EBITDA for 2025 was $25 million (26% of revenue), up from $13 million (18%) in 2024.

• Adjusted net income for 2025 was $6.3 million, compared to a net loss of $2.9 million in 2024.

• Adjusted gross margin for 2025 was 66%, down from 69% in 2024, due to product mix and lower bag yields.

Outlook and guidance

• 2026 revenue guidance is $112–$115 million, representing 17–20% growth.

• Guidance includes mid-60% GAAP and adjusted gross margins, full year GAAP net income, and continued adjusted EBITDA margin expansion.

• Expect continued operating and adjusted EBITDA margin expansion, with positive full-year GAAP net income projected for the first time in years.

• Gross margins expected to remain in the mid-sixties, with improvement in bag yields targeted for late 2026.

• Commercial customers expected to account for 50–55% of revenue in 2026.