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BioLife Solutions narrows FY22 revenue view to $160M-$164M from $160M-$166M
The Fly

BioLife Solutions narrows FY22 revenue view to $160M-$164M from $160M-$166M

Consensus is for FY22 revenue $163.4M. FY22 revenue view reflects year-over-year growth of 34%-38% and organic growth of 37%-40%. COVID-19 related revenue is expected to account for approximately 7% to 8% of total revenue. Sees FY22 cell Processing platform $67.0M-$68.0M, an increase of 49%-51% over 2021 and organic growth of 42%-43%. This includes biopreservation media and Sexton products. Previous revenue guidance was in a range from $67.0M-$69.5M. This modest reduction in the top of the range is due to anticipated supply chain constraints. Freezers and Thaw Systems platform: $66.0M-$68.0M, an increase of 17%-20% over 2021 and organic growth of 8%-13%. COVID-19 related revenue is expected to account for 3% of the freezer and thaw systems platform revenue. This includes ThawSTAR thawing devices, cryogenic liquid nitrogen freezers and ULT Stirling freezers. There continues to be some supply chain risk which could impact this platform in Q1. Previous revenue guidance was in a range from $70.0M-$71.5M. This reduction is due to anticipated supply chain constraints. Storage and Storage Services platform $27.0M-$28.0M a total and organic increase of 54%-59% over 2021. COVID-19 related revenue is expected to account for approximately 40%-45% of the storage and storage services platform revenue. COVID-19 related storage revenue is primarily generated from contracts, including some that extend beyond 2022. Previous revenue guidance was in a range from $23.0M-$25.0M. The increase is due to anticipated increased demand for our Storage and Storage Services Although the Company does not provide guidance below the revenue line, BioLife expects positive full year adjusted EBITDA.

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