The chart below shows how BLFS performed 10 days before and after its earnings report, based on data from the past quarters. Typically, BLFS sees a +3.75% change in stock price 10 days leading up to the earnings, and a +9.07% change 10 days following the report. On the earnings day itself, the stock moves by -3.89%. This data can give you a slight idea of what to expect for the next quarter's release.
Positive
Cell Processing Revenue Growth: Our Cell Processing platform revenue totaled $19 million, representing a sequential increase of 6% and up 43% compared to the third quarter of 2023.
Margin Expansion Achievement: Adjusted gross margin for Q3 came in at 54%, up from 44% in the same period last year, reflecting continued margin expansion.
EBITDA Margin Improvement: We delivered an adjusted EBITDA margin of 20% compared to 6% last year, demonstrating significant improvement in profitability.
Strategic Business Divestiture: We announced the strategic divestiture of our SciSafe bios storage business, which serves as another pivotal step in our evolution.
Cash and Marketable Securities Increase: Our cash and marketable securities balance reported as of September 30, 2024, was $39.3 million, compared to $36.9 million as of June 30, 2024.
Negative
Gross Margin Improvement: GAAAP gross margin for Q3 2024 was 51%, compared with 48% in Q3 2023.
Operating Expenses Comparison: GAAP operating expenses for Q3 2024 were $32.1 million versus $39 million in Q3 2023.
Net Loss Comparison: GAAP net loss was $1.7 million or $0.04 per share in Q3 2024 compared to $15.8 million or $0.36 per share in the prior year.
Operating Loss Improvement: Adjusted operating loss for Q3 2024 was $600,000 compared with $8.3 million in Q3 2023.
Operating Loss Improvement: The decrease in operating loss was primarily due to an $8.3 million impairment the company took in Q3 2023 related to its freezer business.
BioLife Solutions, Inc. (BLFS) Q3 2024 Earnings Call Transcript
BLFS.O
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