BioLife Solutions reports Q3 preliminary revenue $33.3 M, consensus $32.72M

The Company is reporting preliminary, unaudited revenue for the third quarter of 2023 of approximately $33.3 M. This includes cell processing platform preliminary revenue of $13.3M, which is in line with management’s guidance issued on August 8th. Preliminary revenue for Storage and Storage Services, and Freezers and Thaw Systems platforms was $6.6M and $13.4M, respectively. The Company now expects full year 2023 revenue at the low end of the previously announced guidance range of $144M to $158M, which assumes flat to modest sequential growth for its cell processing platform in the fourth quarter.de Greef continued, “As we navigate this dynamic operating environment, we will continue to work closely with customers to manage inventory to normalized levels as quickly as possible. Our updated outlook reflects near-term trends in the business based on this macro backdrop and recent customer interactions. With a leading position in attractive and growing end markets, I am confident about the long-term trajectory of our cell processing and biostorage franchises”. Total FY2023 and Freezers and Thaw Systems platform revenue may be impacted by the timing of the freezer product line divestitures. The preliminary revenue set forth above are unaudited and remain subject to ongoing review and adjustment. The Company will report complete results on its third quarter 2023 earnings call currently scheduled for November .