BioLife Solutions Hits Profitability, Riding a Wave of CGT Growth

BOTHELL, WA – February 26, 2026 – BioLife Solutions, Inc. (Nasdaq: BLFS) today announced robust financial results for the fourth quarter and full year of 2025, revealing significant revenue growth and a pivotal return to profitability that underscores the success of its strategic transformation into a specialized provider for the booming cell and gene therapy (CGT) market. The company posted fourth-quarter revenue of $24.8 million, a 20% increase year-over-year, and achieved a GAAP net income of $2.1 million, signaling that its disciplined focus is yielding substantial returns.

Looking ahead, the company issued strong guidance for 2026, projecting continued double-digit revenue growth and, crucially, full-year GAAP profitability. The results and optimistic forecast highlight BioLife's successful navigation of a strategic pivot and its entrenchment as a critical supplier in one of modern medicine's most promising frontiers.

A Strategy of Focus Pays Dividends

The strong financial performance marks a triumphant capstone on what the company's leadership described as a transformative period. Over the past two years, BioLife has deliberately shed non-core assets to sharpen its focus. This strategy culminated in the October 2025 sale of its evo subsidiary for $25.5 million, which followed the divestiture of its freezer and cold-chain logistics businesses in 2024. The moves have repositioned BioLife as a 'pure-play' cell processing company centered on high-value, recurring revenue from its biopreservation media and related tools.

"2025 was a transformative year for BioLife," said Roderick de Greef, BioLife's Chairman and CEO, in a statement. "With a streamlined cost structure and a scaled core business, we are now realizing the operating leverage inherent in our model."

The numbers bear this out. The company's adjusted EBITDA—a key measure of operational profitability—reached $6.9 million in the fourth quarter, representing a margin of 28% of revenue. This is a dramatic improvement from the 18% margin reported in the same quarter of 2024, demonstrating enhanced efficiency and cost control. The shift from a GAAP operating loss of $1.2 million in Q4 2024 to a near break-even loss of just $0.1 million in Q4 2025 further illustrates the positive impact of this focused approach on the company's bottom line.

Powering the Cell and Gene Therapy Boom

BioLife's success is inextricably linked to the explosive growth of the cell and gene therapy sector itself. These revolutionary treatments, which can offer cures for once-intractable genetic diseases and cancers, rely on a complex and sensitive supply chain. BioLife's core products, particularly its biopreservation media, are the unsung heroes of this process, acting as a life-support system that maintains the viability and function of cells as they are collected, manufactured, and transported to patients.

The company's market penetration is formidable. BioLife's media is used in approximately 250 commercially sponsored CGT clinical trials in the United States, giving it a commanding market share of over 70%. Its dominance is even more pronounced in late-stage development, where its products are used in nearly 80% of Phase III trials. This deep integration into the clinical pipeline provides a powerful engine for future growth, as each trial that progresses to commercial approval becomes a long-term, recurring revenue stream.

As of the end of 2025, BioLife's media was already embedded in 16 unique approved commercial CGT products. The company anticipates this number will grow significantly, with seven additional product approvals—including five entirely new therapies as well as expansions for existing ones—expected over the next 12 months. This growth is fueled by a wave of regulatory approvals, with the FDA greenlighting nine innovative CGTs in 2024 and another five in 2025, and a pipeline of over 1,300 gene therapies in clinical development.

Riding Favorable Market Tailwinds

BioLife's strategic positioning is amplified by a highly favorable market environment. The global CGT market, valued at nearly $9 billion in 2025, is projected by industry analysts to expand at a compound annual growth rate exceeding 17% over the next decade, potentially reaching over $45 billion by 2035. This expansion is driven by scientific breakthroughs, increasing therapy approvals, and the application of these treatments to earlier lines of care and a broader range of diseases beyond oncology.

De Greef noted that an "improving biotech funding environment, strategic investment by large pharma, and ongoing clinical progress underscore this market's long-term attractiveness." This sentiment is supported by market data showing robust investment in the sector. In 2023 alone, CGT developers raised over $3.5 billion, and major pharmaceutical companies have engaged in high-profile acquisitions to secure a foothold in the space, signaling strong commercial confidence.

This influx of capital and strategic interest ensures a continuous flow of new therapies into the clinical pipeline, directly fueling demand for the essential tools and services that BioLife provides. As the industry's 'picks and shovels' provider, the company is well-insulated to benefit from the sector's overall growth, regardless of which specific therapies ultimately succeed.

A Closer Look at the Numbers and 2026 Outlook

For the full year of 2025, BioLife's revenue from continuing operations grew an impressive 29% to $96.2 million, up from $74.6 million in 2024. While full-year GAAP results showed a net loss, largely due to expenses incurred earlier in the year, the strong fourth-quarter profitability and positive non-GAAP income for the full year of $6.3 million paint a clear picture of a company on an upward trajectory.

The company's guidance for 2026 reinforces this positive narrative. BioLife projects revenue to reach between $112.5 million and $115.0 million, representing growth of 17% to 20% over 2025. This growth rate is in lockstep with the expansion of the broader CGT market, indicating the company is poised to continue capturing its share of the industry's momentum. Perhaps most significantly, the company forecasts achieving full-year GAAP net income, marking a major milestone in its journey as a focused, profitable enterprise.

With a strong balance sheet showing over $120 million in cash and marketable securities and a clear path to sustained profitability, BioLife Solutions appears to have successfully executed its strategic pivot. By cementing its role as an indispensable partner to the cell and gene therapy industry, the company has positioned itself to thrive alongside the medical breakthroughs it helps make possible.