BioLife Solutions, Inc. (BLFS) reported fourth‑quarter 2025 revenue of $24.8 million, a 20% year‑over‑year increase, and full‑year revenue of $96.2 million, up 29% from the prior year.
GAAP gross margin for the quarter was 63%, while adjusted gross margin stood at 64%. Net income for Q4 was $2.1 million, translating to GAAP earnings per share of $0.04. Adjusted EBITDA reached $6.9 million, representing 28% of total revenue. The company’s high‑margin cell‑processing business drove the margin expansion, although a product‑mix shift toward lower‑margin bags and lower bag yields in the second half of 2025 compressed gross margins slightly compared with the 66% GAAP gross margin reported in Q4 2024.
The company’s GAAP EPS of $0.04 beat the consensus estimate of a $-0.02 loss by $0.06, a significant turnaround that reflects disciplined cost control, operational leverage, and strong demand in its core biopreservation media franchise.
Management guided 2026 revenue to $112.5 million–$115 million, a 17%–20% increase over 2025, and reiterated confidence in sustaining growth across its biopreservation media and cell‑processing platforms. The guidance signals a belief that the company’s dominant market position and cross‑selling strategy will continue to drive revenue momentum, while the mid‑60% gross‑margin range and full‑year GAAP profitability expectation underscore confidence in margin expansion.
Revenue is driven primarily by biopreservation media, which accounts for approximately 85% of total revenue, with the high‑margin cell‑processing business contributing the remaining 15%. The shift toward lower‑margin bags and lower bag yields in Q4 2025 compressed gross margins, but management expects improvements in bag yields and a more favorable product mix in Q4 2026.
"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." "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."
Investors reacted positively to the earnings beat and the company’s forward‑looking guidance, which highlighted a return to profitability and a clear path to continued growth.
Headwinds include ongoing bag yield issues and a product‑mix shift toward lower‑margin products, which have pressured gross margins in the short term. Tailwinds are driven by the expanding cell and gene therapy market, new therapy approvals, geographic expansions, and strategic partnerships such as the QKine collaboration, all of which are expected to reinforce demand for BioLife’s products.
BioLife’s strong Q4 performance, margin expansion, and optimistic 2026 outlook demonstrate effective execution and a solid competitive position, while the company’s focus on improving bag yields and product mix will be key to sustaining its high‑margin profile in the coming quarters.
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