BioLife Solutions Reports Third Quarter 2024 Financial Results
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BioLife Solutions reported its Q3 2024 financial results, highlighting a 6% sequential growth in Cell Processing revenue and a 43% increase compared to 2023. The company posted a GAAP net loss of $1.7 million but a non-GAAP adjusted EBITDA of $6.1 million. Revenue guidance for Cell Processing was increased by $2 million, with total 2024 revenue expected to be between $98.0 million and $100.0 million.
November 12, 2024 | 9:15 pm
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BioLife Solutions reported a 6% sequential growth in Cell Processing revenue and a 43% increase compared to 2023. The company posted a GAAP net loss of $1.7 million but a non-GAAP adjusted EBITDA of $6.1 million. Revenue guidance for Cell Processing was increased by $2 million, with total 2024 revenue expected to be between $98.0 million and $100.0 million.
The increase in Cell Processing revenue and the raised revenue guidance are positive indicators for BioLife Solutions. Despite the GAAP net loss, the non-GAAP adjusted EBITDA shows profitability on an adjusted basis, which is likely to be viewed favorably by investors. The raised revenue guidance suggests confidence in future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100