BioLife Solutions' Q1 Revenue Rises 25% to $27.5M with $6.2M EBITDA
BioLife Solutions posted Q1 revenue of $27.5 million, up 25% year-over-year, with non-GAAP adjusted EBITDA of $6.2 million (22% of revenue) and GAAP net income of $1.2 million. The company holds a >70% market share in biopreservation media across 250 clinical trials and reaffirmed 2026 revenue guidance of $112.5M-$115M.
1. Financial Results
BioLife Solutions recorded total revenue of $27.5 million in Q1 2026, a 25% increase from $22.1 million a year earlier. GAAP net income reached $1.2 million, while non-GAAP adjusted EBITDA was $6.2 million, representing 22% of revenue, and gross margins stood at 64%.
2. Market Position
The company’s biopreservation media holds over 70% market share across approximately 250 ongoing clinical trials, including nearly 80% of Phase III studies. Its CellSeal vials and hPL products support more than 35 clinical trials and are embedded in 17 unique commercial cell and gene therapies.
3. 2026 Guidance
BioLife reaffirmed its full-year 2026 revenue projection of $112.5 million to $115.0 million, implying 17% to 20% growth. Management also expects gross margins to stay in the mid-60% range and anticipates further expansion of adjusted EBITDA margins.
4. Cash Position
As of March 31, 2026, BioLife held $111.5 million in cash, cash equivalents, and marketable securities, underpinning its financial flexibility for product development and strategic initiatives.