Financial PerformanceThe company exceeded revenue projections for 3Q24 with total revenue of $30.6M, despite an 8% YoY decline due to divestitures.
Market PositionBiolife is now focused on its 'sticky', high margin, recurring-revenue, cell processing platform and remains deeply entrenched within the Cell and Gene therapy sector with market share in excess of 70% of relevant commercially-approved therapies.
Strategic FocusBioLife Solutions completed the divestiture of its freezer and related businesses, aligning with its strategic focus on higher-margin, recurring-revenue cell processing products.