BioLife Solutions, Inc. reported its financial results for the third quarter of 2025, revealing a total revenue of $28.1 million, a 31% increase from $21.4 million in the same period last year. The growth was primarily driven by a significant rise in product revenue, which reached $26.3 million, up from $19.9 million in Q3 2024, reflecting a 32% increase. For the nine months ending September 30, 2025, total revenue was $77.4 million, compared to $59.5 million for the same period in 2024, marking a 30% increase. Despite the revenue growth, the company reported a net loss of $15.7 million for the nine months, an increase from a loss of $32.6 million in the prior year.
The company’s operational expenses also saw a notable rise, with total operating expenses for the third quarter amounting to $28.2 million, a 29% increase from $21.8 million in Q3 2024. This increase was attributed to higher costs in product revenue, general and administrative expenses, and research and development. Specifically, general and administrative expenses rose by 29% to $12.1 million, driven by increased personnel costs and professional fees. Research and development expenses surged by 43% to $2.7 million, reflecting the company's commitment to innovation and product development.
In terms of strategic developments, BioLife Solutions completed the acquisition of PanTHERA CryoSolutions in April 2025, which is expected to enhance its capabilities in biopreservation technology. The company also announced the divestiture of its SAVSU business on October 6, 2025, for an aggregate purchase price of $25.5 million, which is anticipated to be presented as discontinued operations in future financial statements. These strategic moves are part of the company's ongoing efforts to optimize its product portfolio and focus on higher-margin revenue streams.
Operationally, BioLife Solutions reported an increase in customer demand for its cell processing products, which contributed significantly to revenue growth. The company’s cash and cash equivalents, along with available-for-sale securities, totaled $98.4 million as of September 30, 2025, down from $109.2 million at the end of 2024. The decrease in cash was primarily due to increased investments in available-for-sale securities and the acquisition of PanTHERA. The company anticipates that its current liquidity will be sufficient to meet its operational needs for at least the next twelve months.
Looking ahead, BioLife Solutions remains focused on expanding its market presence and enhancing its product offerings in the cell and gene therapy industry. The company is optimistic about future revenue growth driven by increased customer demand and the successful integration of acquired technologies. However, it acknowledges the ongoing challenges posed by market conditions and the need for continued investment in research and development to maintain its competitive edge.
About BIOLIFE SOLUTIONS INC
BioLife Solutions, Inc. develops and manufactures bioproduction products and services that support cell and gene therapy (CGT) manufacturing and distribution. Its portfolio includes proprietary biopreservation media, cell processing tools, automated thawing devices, and cloud-connected cold chain shipping containers. Serving biopharma and research customers globally, BioLife’s products enhance biologic material viability, extend shelf-life, and improve process consistency, leveraging cGMP manufacturing and scientific expertise to reduce risks in CGT workflows.
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