BLFS

Good afternoon, welcome to the call. Roderick DeGrief mentioned 2026 started solid with 25% revenue growth and 15% adjusted EBITDA growth vs prior year. BPM drove growth, over 85% of revenue. Market position strengthened with BPM in 17 approved therapies and visibility into 9 more. Cell seal vials and HPL lines growing. Focus on cross-selling and strategic initiatives. Operating leverage seen. Mentioned cell therapy landscape trends.

Affirming 2026 guidance: revenue 112.5 to 115 million, growth 17 - 20%. Expect continued operating and adjusted EBITDA margin expansion, full year positive gap net income.

Total revenue reached $27.5 million, increasing 25% year-over-year. Adjusted EBITDA was $6.2 million, or 22% of revenue. BPM represents over 85% of total revenue. Gap gross margin for Q1 2026 was 64%, adjusted gross margin was 64%.

Gross margin and adjusted EBITDA as percent of revenue declined due to bag yield dynamics. Also, biotech funding impact on early stage customers (though minimal).

Q: On bags, clarification on margins and scrap.

A: Work with customers, 90-day notice, on track.

Q: Sector level biotech funding.

A: Funding impact minimal on BioLife, bulk revenue from well-capitalized firms.

Q: Cryo case commercial.

A: Received award, many validations, waiting for customer announcement.

Q: Homebrew share in cell therapy.

A: Numbers in favor of BioLife, hard to justify homebrew.

Q: R&D expense.

A: Related to Center of Excellence and internal projects.

Q: Commercial BPM customers revenue.

A: Target 55% realistic near term.

Q: Plurisix and QKIND deal.

A: No direct revenue impact from that deal.