Cell Processing revenue grew 6% sequentially to $19.0 million ; 43% increase compared to 2023 GAAP gross margin of 51% and non-GAAP adjusted gross margin of 54% GAAP net loss from continuing operations of $1.7 million and non-GAAP adjusted EBITDA of $6.
1 million or 20% Increasing Cell Processing revenue guidance by $2 million to $72.0 to $73.0 million ; total 2024 revenue guidance of $98.
0 million to $100.0 million reflecting impact of SciSafe divestiture Conference call begins at 4:30 p.m.
Eastern time today BOTHELL, Wash. , Nov. 12, 2024 /PRNewswire/ -- BioLife Solutions, Inc.
(Nasdaq: BLFS ) ("BioLife" or the "Company"), a leading developer and supplier of cell processing tools and services for the cell and gene therapy ("CGT") market, today announced financial results for the three and nine months ended September 30, 2024 and updated revenue guidance for 2024. "I'm pleased to report our fourth consecutive quarter of sequential Cell Processing revenue growth and expansion of adjusted gross and adjusted EBTIDA margins," said Roderick de Greef , BioLife Chairman and CEO. "With Q3 now in the books and with good visibility into Q4, we are increasing our projected 2024 Cell Processing revenues by $2 million above our previous guidance.
Adjusting for the absence of revenue from the sale of our SciSafe biostorage business, this puts the total revenue for 2024 in the range of $98.0 to $100.0 million .
" de Greef continued, "The sale of our SciSafe biostorage business for $73 millio.
