BIOLIFE SOLUTIONS Reports Record Third Quarter Earnings for FY2023
November 21, 2023
☀️Earnings Overview
BIOLIFE SOLUTIONS ($NASDAQ:BLFS) released their financial results for the third quarter of FY2023, which concluded on September 30, 2023. Revenue for the quarter amounted to USD 33.3 million, a decline of 18.2% compared to the same period in the prior year. Net income for the quarter was -29.1 million, significantly lower than the -10.0 million reported in the same quarter of the prior year.
Price History
On Thursday, BIOLIFE SOLUTIONS reported record third quarter earnings for FY2023. The company opened at $11.6 and closed at $11.4, down by 1.9% from its previous closing price of 11.6. This marks the first time that the company has reported a quarterly loss in the last five years. The report detailed that while BIOLIFE SOLUTIONS had reported growth in revenue over the same period last year, it wasn’t enough to offset the costs of higher expenses and investments made throughout the quarter. Despite the dip in earnings, BIOLIFE SOLUTIONS remains optimistic about their performance going forward.
The company has invested heavily in research and development, which it hopes will lead to increased sales and profits in the future. With new products and services in the pipeline, BIOLIFE SOLUTIONS aims to deliver on their promise of providing innovative solutions to the healthcare sector. The biopharmaceuticals firm is confident that its investments in research and development will pay off in the long run and help them remain competitive in the healthcare industry. With an experienced management team at the helm and promising products and services in the pipeline, BIOLIFE SOLUTIONS looks poised to continue its strong performance in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Biolife Solutions. More…
| Total Revenues | Net Income | Net Margin |
| 154.8 | -102.23 | -41.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Biolife Solutions. More…
| Operations | Investing | Financing |
| -6.95 | -1.01 | 0.12 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Biolife Solutions. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 411.15 | 79.14 | 7.43 |
Key Ratios Snapshot
Some of the financial key ratios for Biolife Solutions are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 54.9% | – | 2.5% |
| FCF Margin | ROE | ROA |
| -10.9% | 0.7% | 0.6% |
Analysis
GoodWhale is presenting an in-depth analysis of the fundamentals of BIOLIFE SOLUTIONS. After studying the Star Chart, we concluded that BIOLIFE SOLUTIONS is classified as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. This makes it an attractive opportunity to investors who are looking for long-term growth with a lower risk profile. Analyzing the financial data, BIOLIFE SOLUTIONS is strong in asset, growth, and medium in profitability and weak in dividend. Despite this, its high health score of 7/10 considering its cashflows and debt, shows that it is able to pay off debt and fund future operations. This makes it an attractive investment option for investors who are looking for companies with strong financials. More…
Peers
BioLife Solutions Inc is a life sciences company that develops, manufactures, and markets biopreservation tools and services for cells and tissues. The company offers its products and services to customers in the research, clinical, and commercial markets worldwide. BioLife Solutions Inc’s competitors include Alpha Teknova Inc, Medite Cancer Diagnostics Inc, and Rapid Micro Biosystems Inc.
– Alpha Teknova Inc ($NASDAQ:TKNO)
Teknova Inc is a biotechnology company that focuses on the development and commercialization of novel vaccines and therapeutics. The company has a market capitalization of 96.32 million as of 2022 and a return on equity of -9.71%. The company’s products are used in the treatment of cancer, infectious diseases, and autoimmune disorders. Teknova’s products are sold in over 60 countries worldwide.
– Medite Cancer Diagnostics Inc ($OTCPK:MDIT)
Medite Cancer Diagnostics Inc is a medical device company that develops and manufactures cancer diagnostic products. The company’s products are used to detect and diagnose various types of cancer. Medite Cancer Diagnostics Inc’s products are sold to healthcare professionals and institutions worldwide. The company was founded in 1989 and is headquartered in Toronto, Canada.
– Rapid Micro Biosystems Inc ($NASDAQ:RPID)
The company’s market cap is $137.57 million as of 2022, and its ROE is -20.93%. The company develops and manufactures microorganisms detection systems for the food, beverage, and pharmaceutical industries. Its products are used in the manufacturing of a variety of foods, beverages, and pharmaceuticals.
Summary
Investors should consider the recent financial performance of BIOLIFE SOLUTIONS when considering if it is a good investment opportunity. Total revenue for the quarter ending September 30, 2023 decreased by 18.2% compared to the previous year, while net income decreased from -10.0 million to -29.1 million. Current market conditions may be unfavorable, but investors should consider the company’s long-term performance and potential. Analyzing the company’s fundamentals and management team, as well as their strategy and competitive advantage could provide further insight into the company’s future outlook and whether or not it is a good investment.
