BioLife Solutions Inc (BLFS)

[techisbest]

"We now have 18.5 million common shares issued and outstanding. Since the beginning of this year, the nonaffiliate warrant overhang, which totaled 2.8 million warrants has effectively been eliminated, and we now have only 209,000 of these warrants outstanding. Adding insight, our options and warrants brings our current fully diluted share count to 25.9 million."

https://finance.yahoo.com/news/biolife-solutions-announces-third-quarter-210500833.html

"Roderick de Greef, BioLife Solutions, Inc. - CFO & Secretary [4]

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Thanks, Mike. As you noted, biopreservation media revenue for the third quarter of 2018 reached a record $5.3 million, representing a 79% increase over the third quarter of last year. For the 9 months ended September 30, revenue grew 81% to $14.3 million, up from $7.9 million last year. The increase in revenue for both periods was primarily the result of higher direct sales to our customers in the regen med space and to our indirect distribution channel.

The gross margin for the third quarter of 2018 increased to 70% compared to 63% in the third quarter of last year. For the first 9 months of this year, gross margin was 68% compared to 62% for the same period in 2017. The increase in gross margin for both periods compared to 2017 was primarily driven by volume-related reductions in cost of goods sold and higher blended product ASPs.

Operating expenses in Q3 totaled $2.5 million compared to $1.9 million in Q3 of 2017. For the first 9 months of 2018, operating expenses totaled $7.2 million compared to $5.7 million in the first 9 months of 2017. The increase in operating expenses for both periods is primarily the result of higher performance-based compensation expense, increased sales and marketing expenditures and increase cost related to enhancing our quality management systems.

The third quarter's operating profit was $1.2 million compared to an operating loss of $32,000 in the third quarter of 2017. For the 9-month period, operating profit totaled $2.6 million compared to an operating loss of $838,000 for the same period.

For the third quarter, net income attributable to common shareholders was $1.2 million or $0.05 per diluted share. This compares to a net loss attributable to common shareholders for the third quarter of 2017 of $425,000 or $0.03 per diluted share. For the first 9 months of 2018, net income attributable to common shareholders was $2.1 million or $0.10 per diluted share compared to a net loss of $2.1 million or $0.16 per diluted share last year.

EBITDA for the third quarter was positive $1.2 million compared to negative $234,000 in the same period last year. For the 9 months, EBITDA was positive $2.5 million compared to negative $1.4 million in the first 9 months of 2017.

Cash provided by operations for the third quarter totaled $809,000 compared to $74,000 in the third quarter of 2017. For the 9 months, cash provided by operations was $1.8 million this year compared to cash used by operations of $198,000 for the same period last year.

The combination of cash flow from operations, proceeds from the exercise of outstanding warrants, and the $20 million equity investment made by Casdin Capital, less our incremental $5 million investment in SAVSU, resulted in an ending cash balance at September 30 of $32.4 million compared to $6.7 million at December 31, 2017.

With respect to our outlook for the full year of 2018, we affirm the guidance we have previously provided. As we noted in our preliminary revenue release in early October, we expect revenue to range between $19 million and $20 million, representing 72% to 82% growth over 2017. We expect our gross margin for the full year to come in between 68% to 70% compared to 61% in 2017.

2018 operating expenses are expected to range between $9.5 million and $10 million, and we expect full year operating profitability, net income and positive cash flow from operations. We will provide guidance for 2019 on our next earnings call."