BioLife Solutions, Inc. (NASDAQ:BLFS) Q4 2024 Earnings Conference Call February 29, 2024 4:30 PM ET

Company Participants

Troy Wichterman - CFO

Rod de Greef - Chairman and CEO

Conference Call Participants

Paul Knight - KeyBanc

Jacob Johnson - Stephen

Steven Mah - TD Cowen

Thomas Flaten - Lake Street

Jack Siedow - Craig-Hallum

Michael Okunewitch - Maxim Group

Operator

Good afternoon, ladies and gentlemen, and thank you for standing by. Welcome to the BioLife Solutions Q4, 2023 Shareholder and Analyst Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. Please also note today's event is being recorded.

I would now like to turn the call over to Troy Wichterman, Chief Financial Officer of BioLife Solutions. Please go ahead.

Troy Wichterman

Thank you, operator. Good afternoon, everyone, and thank you for joining the BioLife Solutions 2023 Fourth Quarter Earnings Conference Call. On this call, we will cover business highlights, financial performance for the quarter and 2024 revenue guidance. Earlier today, we issued a press release announcing our financial results and operational highlights for the fourth quarter of 2023 and 2024 revenue guidance, which is available at biolifesolutions.com.

As a reminder, during this call, we will make forward-looking statements. These statements are subject to risks and uncertainties that can be found in our SEC filings. These statements speak only as of the date given, and we undertake no obligation to update them. We will also speak to non-GAAP or adjusted results. Reconciliations of GAAP to non-GAAP or adjusted financial metrics are included in the press release we issued this afternoon.

Now, I'd like to turn the call over to Rod de Greef, Chairman and CEO of BioLife.

Rod de Greef

Thanks, Troy. Good afternoon and thank you for joining us for BioLife's Fourth Quarter and Full Year 2023 Conference Call. It has been a busy four months since rejoining the company as CEO, and I'm encouraged by our team's ability to navigate one of the more challenging environments for the life sciences industry in recent memory, not to mention their consistent execution throughout the organizational changes related to our strategic refocusing on higher margin recurring revenue streams.

Over time, BioLife has become the industry standard in terms of biopreservation media and has established itself as a leading provider of premium bioproduction tools and services, the critical picks and shovels that support the fast-growing cell and gene therapy industry. This is our mission and I'm convinced more than ever that BioLife is in an excellent position to benefit as this space matures, expanding upon our already dominant share of the market and offering diversified exposure to the nascent industry which we expect to grow at a 20% to 25% CAGR through 2033.