BioLife Solutions Reports 21% Revenue Growth to $28.5 Million in Latest Quarter

BioLife Solutions, Inc. reported significant financial improvements in its latest quarterly results, with total revenue reaching $28.5 million for the three months ended June 30, 2026, a 21% increase from $23.4 million in the same period last year. For the first half of 2026, revenue totaled $56.0 million, up 23% from $45.5 million in the prior year. The growth was primarily driven by increased customer demand for the company's biopreservation media products. Gross profit for the second quarter was $18.3 million, yielding a gross margin of 64%, slightly down from 65% in the previous year, attributed to a less favorable product mix.

Operating expenses saw a substantial decrease, totaling $16.6 million for the second quarter, down 47% from $31.4 million in the same period of 2025. This decline was largely due to the absence of a $15.5 million in-process research and development (IPR&D) expense recorded in the prior year, related to the acquisition of PanTHERA. General and administrative expenses decreased by 5% to $10.7 million, while research and development expenses increased by 51% to $3.0 million, reflecting higher personnel costs and testing expenses. The company reported an operating income of $1.7 million, a significant turnaround from an operating loss of $16.1 million in the prior year.

In terms of strategic developments, BioLife announced a merger agreement with Repligen Corporation on July 21, 2026, under which Repligen will acquire all outstanding shares of BioLife's common stock for $11.25 in cash and 0.1442 shares of Repligen's common stock per share. This merger is expected to close in the fourth quarter of 2026, subject to customary closing conditions. Additionally, the company completed the divestiture of its SAVSU business in October 2025, which is now classified as a discontinued operation.

Operationally, BioLife's customer base and product adoption rates have shown positive trends. The company reported an increase in accounts receivable, reflecting higher sales volumes, and inventory levels rose to $35.6 million from $30.2 million at the end of 2025, indicating increased production to meet demand. The company maintained a strong liquidity position with $113.1 million in cash, cash equivalents, and available-for-sale securities as of June 30, 2026.

Looking ahead, BioLife Solutions anticipates continued growth driven by its core biopreservation products and the integration of the PanTHERA technology, which is expected to enhance its capabilities in the cell and gene therapy market. The company believes its current cash reserves will be sufficient to meet operational needs for at least the next twelve months, although it may consider raising additional capital for strategic initiatives.