Published on 6 Oct 2024 on GuruFocus.com · via Yahoo Finance
BioLife Solutions Inc (BLFS) Q2 2024 Earnings Call Highlights: Navigating...
Total Revenue: $28.3 million in Q2 2024, a decrease of 3% year-over-year.Cell Processing Revenue: $18 million in Q2, an 11% sequential increase from Q1 2024.Adjusted Gross Margin: 52% in Q2 2024, up from 45% in the prior year.Adjusted Operating Expenses: $16.9 million in Q2 2024, down from $19 million in the prior year.Adjusted Operating Loss: $2.1 million in Q2 2024, compared to $5.8 million in Q2 2023.GAAP Net Loss: $7.1 million in Q2 2024, compared to $5.5 million in the prior year.Adjusted EBITDA: $4.8 million or 17% of revenue in Q2 2024, compared to $1.7 million or 6% of revenue in the prior year.Cash and Marketable Securities: $36.9 million as of June 30, 2024.Full Year Revenue Guidance: $99 million to $101 million, reflecting 5% to 8% growth.Cell Processing Platform Guidance: $70 million to $71 million, reflecting 6% to 8% growth over 2023.Biostorage Services Platform Guidance: $29 million to $30 million, reflecting 3% to 7% growth over 2023.Shares Outstanding: 46 million as of August 1, 2024.