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BioLife Solutions Expects 34%-42% Revenue Growth In 2022

Shares of BioLife Solutions Inc. (BLFS) are down a whopping 77% from their 52-week high of $60.67, recorded last September, and trade around $14.

BioLife Solutions is a developer and supplier of bioproduction products and services for the cell and gene therapies and the broader biopharma markets. The company's products enable significant improvement in shelf life and post-preservation viability and function of biologic materials.

The financial results for the first quarter ended March 31, 2022, were reported earlier this month.

Net loss for the first quarter of 2022 widened to $7.1 million or $0.17 per share from $1.1 million or $0.03 per share in the year-ago period. Revenue for Q1, 2022 soared to $36.2 million from $16.8 million in Q1, 2021.

Looking ahead to full-year 2022, the company expects revenue to range from $159.5 million to $171.0 million, implying a growth of 34%-42% over the prior year. Revenue was $119 million in 2021.

Cash position:

The company's cash on hand totaled $59.5 million as of March 31, 2022.

BLFS has traded in a range of $10.40 to $60.67 in the last 1 year.

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