BioLife Solutions, Inc. (NASDAQ:BLFS) Q2 2024 Earnings Conference Call August 8, 2024 4:30 PM ET

Company Participants

Troy Wichterman – Chief Financial Officer
Rod de Greef – Chairman and Chief Executive Officer
Garrie Richardson – Chief Revenue Officer

Conference Call Participants

Jacob Johnson – Stephens
Anna Snopkowski – KeyBanc
Matt Stanton – Jefferies
Steven Mah – TD Cowen
Thomas Flaten – Lake Street Capital Markets

Operator

Good afternoon, and welcome to the BioLife Solutions Q2 2024 Shareholder and Analyst Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference 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 2024 second quarter earnings conference call. On today’s call, we will cover business highlights and financial performance for the quarter and provide an update on our full year 2024 revenue guidance. Earlier today, we issued a press release announcing our financial results and operational highlights for the second quarter of 2024, 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 second quarter 2024 earnings call. Today, I’m joined by Troy Wichterman, our CFO; as well as Garrie Richardson, our Chief Revenue Officer, who will offer a deeper look into our Q2 revenue results and our strategy to grow BioLife’s market-leading biopreservation franchise.

To begin, I’m pleased to report another quarter of sequential revenue growth in our core cell processing business. Now halfway through the year, these results underscore our belief that we are seeing an improvement in the macro environment, specifically the bioproduction subsector we operate in.

With the strategic shift away from our legacy freezer products largely behind us, our revenue is primarily driven by our high-margin cell processing platform and our biostorage and services platform.