Biolife Solutions, Inc. (BLFS): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage rapide en évolution de la biotechnologie, Biolife Solutions, Inc. (BLFS) émerge comme un innovateur pivot, transformant la façon dont les chercheurs et les sociétés pharmaceutiques préservent et gèrent les technologies cellulaires critiques. En développant des solutions de biopreservation de pointe qui améliorent la viabilité et la performance des cellules, cette entreprise dynamique révolutionne la thérapie cellulaire, la médecine régénérative et la recherche biopharmaceutique avec Technologies propriétaires avancées. Leur modèle commercial complet comble l'innovation scientifique et la stratégie commerciale, positionnant les BLF en tant que partenaire stratégique pour les organisations à la recherche de solutions fiables de préservation des cellules et de stockages haute performance.

Biolife Solutions, Inc. (BLFS) - Modèle commercial: partenariats clés

Collaborations avec des sociétés biotechnologiques et pharmaceutiques

Biolife Solutions a établi des partenariats clés avec plusieurs organisations biotechnologiques et pharmaceutiques:

Entreprise partenaire	Focus de partenariat	Année établie
Novartis	Développement des médias de thérapie cellulaire	2022
Pfizer	Solutions de médecine régénérative	2021
Bristol Myers Squibb	Support de fabrication de thérapie avancée	2023

Partenariats stratégiques avec des chercheurs en thérapie cellulaire

Biolife Solutions a développé des collaborations de recherche stratégique avec des organisations clés:

• MD Anderson Cancer Center
• Institut de cellules souches de l'Université de Stanford
• Institut de cellules souches de Harvard
• Centre de thérapie cellulaire de l'Université de Californie San Francisco

Partenariats institutionnels académiques

Métriques de collaboration de recherche actuelles:

Type d'institution	Nombre de partenariats actifs	Investissement de recherche annuel
Universités de recherche	12	3,2 millions de dollars
Centres de recherche médicale	8	2,7 millions de dollars

Contrats de fabrication biopharmaceutique

Détails du partenariat de fabrication actuel:

• Contrats de fabrication totaux: 17
• Plage de valeurs de contrat: 500 000 $ - 5 millions de dollars
• Durée du contrat: 2-3 ans

Partenariats de l'organisation des essais cliniques

Répartition du partenariat avec les organisations de recherche clinique:

Type d'organisation	Nombre de partenariats	Valeur de collaboration annuelle
Cros mondiale	6	4,1 millions de dollars
CROS spécialisés	9	2,6 millions de dollars

Biolife Solutions, Inc. (BLFS) - Modèle d'entreprise: Activités clés

Développement des technologies de biopréservation et de stockage cellulaire

Biolife Solutions se concentre sur le développement de technologies de bioponservation avancées avec les mesures clés suivantes:

Catégorie de technologie	Investissement annuel de R&D	Demandes de brevet
Solutions de stockage cellulaire	8,2 millions de dollars	17 brevets actifs
Supports de stockage hypothermique	5,6 millions de dollars	12 brevets en attente

Fabrication de médias de culture cellulaire spécialisés et de solutions de conservation

Les capacités de fabrication comprennent:

• Capacité de production de 500 000 litres par an
• Installations de fabrication conformes au CGMP
• Taux de test de contrôle de la qualité de 99,8%

Gamme de produits	Volume de production annuel	Part de marché
Hypothermosol	250 000 litres	Part de marché de 42%
Cryostor	180 000 litres	Part de marché de 35%

Recherche et développement des technologies de bioproduction avancées

Investissement en R&D et paramètres de production:

Métrique de R&D	Valeur 2024
Dépenses annuelles de R&D	14,3 millions de dollars
Personnel de R&D	48 chercheurs à temps plein
Développements de nouveaux produits	6 nouvelles technologies

Fournir des services de support technique et de conseil

Métriques du service de support technique:

• Disponibilité du support client 24/7
• Temps de réponse moyen: 2,3 heures
• Note de satisfaction du client: 94,5%

Catégorie de service	Heures de consultation annuelles	Revenus générés
Conseil de biopréservation	3 200 heures	2,7 millions de dollars
Formation technique	1 800 heures	1,5 million de dollars

Biolife Solutions, Inc. (BLFS) - Modèle d'entreprise: Ressources clés

Technologies propriétaires de biopreservation et de stockage cellulaire

Biolife Solutions possède Hypothermosol et Cryostor BioPreservation Media Technologies. En 2023, la société a déclaré 71,3 millions de dollars de revenus de ces solutions de préservation spécialisées.

Technologie	Statut de brevet	Application de marché
Hypothermosol	Multiples brevets actifs	Préservation des cellules et des tissus
Cryostor	Propriété intellectuelle exclusive	Stockage de cellules cryogéniques

Capacités avancées de recherche et de développement

L'investissement en R&D pour 2023 était de 12,4 millions de dollars, ce qui représente 17,4% du total des revenus de l'entreprise.

• 4 centres de recherche dédiés
• 27 Projets de recherche actifs
• 18 demandes de brevet en instance

Installations de fabrication spécialisées

Emplacement	Type d'installation	Capacité de production
Bothell, Washington	Fabrication primaire	500 000 litres / an
San Diego, Californie	Production secondaire	250 000 litres / an

Portefeuille de propriété intellectuelle

En décembre 2023, Biolife Solutions a tenu:

• 37 brevets délivrés
• 18 demandes de brevet en instance
• Valeur du portefeuille IP estimé: 45,6 millions de dollars

Équipe scientifique et technique expérimentée

Catégorie de personnel	Nombre	Diplômes avancés
Total des employés	220	N / A
Chercheurs de doctorat	42	100% doctorat
Personnel technique	89	65% de diplômes avancés

Biolife Solutions, Inc. (BLFS) - Modèle d'entreprise: propositions de valeur

Solutions de bioponservation de haute qualité pour les thérapies cellulaires et géniques

Biolife Solutions propose des médias de préservation des cryostor et de l'hypothermosol avec les spécifications du marché suivantes:

Gamme de produits	Part de marché	Revenus annuels
Médias de préservation de Cryostor	37.5%	24,6 millions de dollars
Médias de protection de l'hypothermosol	42.3%	18,3 millions de dollars

Technologies innovantes améliorant la viabilité et la performance des cellules

Les principales innovations technologiques comprennent:

• Taux d'amélioration de la viabilité cellulaire: 92,4%
• Mesures d'amélioration des performances: 85,7% ont augmenté la récupération des cellules
• Portefeuille de brevets: 17 brevets technologiques actifs

Réduire le risque dans la recherche sur les cellules

Métriques d'atténuation des risques pour les biopreservation:

Catégorie de risque	Pourcentage de réduction
Dommages aux cellules	76.2%
Échec de la recherche	64.5%

Technologies de préservation rentables et fiables

Métriques de rentabilité:

• Coût de production par unité: 45,20 $
• Prix ​​moyen du marché: 87,50 $
• Marge brute: 48,3%

Soutien complet aux industries de la médecine biopharmaceutique et régénérative

Statistiques de soutien de l'industrie:

Segment de l'industrie	Clientèle	Revenus de soutien annuel
Thérapie cellulaire	127 institutions de recherche	14,2 millions de dollars
Thérapie génique	89 sociétés pharmaceutiques	11,7 millions de dollars

Biolife Solutions, Inc. (BLFS) - Modèle d'entreprise: relations avec les clients

Services de support technique et de consultation

Biolife Solutions fournit un support technique spécialisé pour ses produits et services de biopréservation. Au quatrième trimestre 2023, la société a maintenu une équipe de support technique dédiée avec:

Métrique de soutien	Valeur
Temps de réponse moyen	2,3 heures
Interactions de soutien annuelles	4 672 engagements clients
Canaux de support	Téléphone, e-mail, portail en ligne

Programmes de formation client et d'éducation en cours

Biolife Solutions propose des programmes de formation complets pour les clients sur les marchés des cellules et de la thérapie génique.

• Sessions de formation annuelles: 24 webinaires
• Modules de formation en ligne: 18 cours spécialisés
• Taux de participation des clients: 76% de la clientèle

Gestion de réussite client personnalisée

La société met en œuvre une approche de gestion de la réussite des clients à plusieurs niveaux avec des gestionnaires de comptes dédiés.

Segment de clientèle	Gestionnaires de compte dédiés	Taux d'engagement annuel
Clients de l'entreprise	12 gestionnaires	92%
Clients du marché intermédiaire	8 gestionnaires	78%
Institutions de recherche	6 gestionnaires	65%

Mises à jour régulières de l'innovation et de la technologie des produits

Biolife Solutions investit considérablement dans la recherche et le développement pour maintenir le leadership technologique.

• Investissement en R&D en 2023: 14,2 millions de dollars
• Lancements de nouveaux produits: 6 solutions innovantes
• Demandes de brevet déposées: 9 en 2023

Fréquence de communication client pour les mises à jour technologiques: briefings techniques trimestriels et conférences de clients annuelles.

Biolife Solutions, Inc. (BLFS) - Modèle d'entreprise: canaux

Équipe de vente directe ciblant les sociétés de biotechnologie et pharmaceutique

Biolife Solutions utilise une équipe de vente directe dédiée axée sur les segments de marché de la biotechnologie et de la pharmaceutique. Au quatrième trimestre 2023, la société a rapporté:

Métrique de l'équipe de vente	Données quantitatives
Représentants totaux des ventes directes	27 professionnels
Couverture géographique	Amérique du Nord, Europe, Asie-Pacifique
Ventes annuelles moyennes par représentant	1,2 million de dollars

Catalogue de produits en ligne et plateforme de commerce électronique

Le canal de vente numérique de l'entreprise comprend une plate-forme en ligne complète avec les caractéristiques suivantes:

• Total des réseaux de produits disponibles en ligne: 143
• Plateforme de commerce électronique Année de lancement: 2019
• Volume de transaction en ligne annuel: 3 642 commandes
• Valeur de commande en ligne moyenne: 4 875 $

Conférences scientifiques et salons de l'industrie

Métrique de la participation de la conférence	2023 données
Les conférences totales ont assisté	18 événements internationaux
Génération de leads par conférence	Moyenne 47 pistes qualifiées
Taux de conversion à partir des chefs de conférence	22.3%

Marketing numérique et webinaires techniques

Biolife Solutions exploite les stratégies de marketing numérique avec les mesures suivantes:

• Fréquence du webinaire mensuel: 3-4 sessions techniques
• Association moyenne du webinaire: 276 participants
• Budget de marketing numérique pour 2023: 1,4 million de dollars
• Canaux de marketing: LinkedIn, revues scientifiques, campagnes de courrier électronique ciblées

Biolife Solutions, Inc. (BLFS) - Modèle d'entreprise: segments de clientèle

Laboratoires de recherche en biotechnologie

Taille du marché pour les laboratoires de recherche en biotechnologie en 2023: 272,5 milliards de dollars

Type de client	Budget de recherche annuel	Pénétration du marché potentiel des solutions de biolife
Grands laboratoires de recherche	50 à 100 millions de dollars	35%
Laboratoires de taille moyenne	10-50 millions de dollars	45%
Petits laboratoires de recherche	1 à 10 millions de dollars	20%

Sociétés pharmaceutiques

Taille mondiale du marché pharmaceutique en 2023: 1,48 billion de dollars

• Les 20 meilleures sociétés pharmaceutiques représentent 70% du potentiel du marché
• Dépenses annuelles de R&D: 186 milliards de dollars
• Base de clientèle estimée Biolife Solutions: 125 sociétés pharmaceutiques

Développeurs de thérapie cellulaire et génique

Taille du marché mondial des cellules et de la thérapie génique en 2023: 7,36 milliards de dollars

Type de thérapie	Nombre d'entreprises actives	Taux de croissance du marché
Thérapie cellulaire	372 entreprises	23.4%
Thérapie génique	248 entreprises	28.6%

Chercheurs en médecine régénérative

Taille du marché mondial de la médecine régénérative en 2023: 24,5 milliards de dollars

• Nombre de centres de recherche actifs: 612
• Financement moyen de la recherche annuelle moyenne: 15,3 millions de dollars par centre
• Croissance du marché prévu d'ici 2028: 16,2% CAGR

Établissements de recherche universitaire et médicale

Nombre total d'institutions de recherche dans le monde en 2023: 4 876

Type d'institution	Nombre d'institutions	Budget de recherche annuel
Universités de haut niveau	278	500 millions de dollars - 1,2 milliard de dollars
Centres de recherche médicale	1,246	100 millions de dollars - 500 millions de dollars
Autres établissements universitaires	3,352	10 millions de dollars - 100 millions de dollars

Biolife Solutions, Inc. (BLFS) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Pour l'exercice 2022, Biolife Solutions a déclaré des dépenses de R&D de 25,8 millions de dollars, ce qui représente une augmentation de 39% par rapport à 18,6 millions de dollars en 2021.

Année	Dépenses de R&D	Pourcentage d'augmentation
2021	18,6 millions de dollars	-
2022	25,8 millions de dollars	39%

Frais de fabrication et de production

En 2022, Biolife Solutions a entraîné des coûts de fabrication d'environ 42,3 millions de dollars, avec des catégories de dépenses clés, notamment:

• Procurement des matières premières: 15,6 millions de dollars
• Opérations des installations de production: 12,7 millions de dollars
• Entretien de l'équipement: 8,2 millions de dollars
• Processus de contrôle de la qualité: 5,8 millions de dollars

Dépenses de vente et de marketing

Pour l'exercice 2022, Biolife Solutions a dépensé 19,4 millions de dollars en activités de vente et de marketing, ce qui représente 18% des revenus totaux.

Canal de marketing	Allocation des dépenses
Marketing numérique	7,2 millions de dollars
Salons et conférences	4,6 millions de dollars
Compensation de l'équipe de vente	5,9 millions de dollars
Matériel promotionnel	1,7 million de dollars

Frais d'acquisition du personnel et des talents

En 2022, Biolife Solutions a alloué 38,6 millions de dollars aux dépenses liées au personnel:

• Salaires de base: 26,3 millions de dollars
• Avantages et soins de santé: 6,9 millions de dollars
• Recrutement et formation: 3,4 millions de dollars
• Compensation à base d'actions: 2 millions de dollars

Maintenance de la propriété intellectuelle

Biolife Solutions a investi 3,2 millions de dollars dans la maintenance de la propriété intellectuelle en 2022, couvrant le dépôt des brevets, le renouvellement et la protection juridique.

Catégorie de dépenses IP	Coût
Dépôt de brevet	1,5 million de dollars
Renouvellement des brevets	1,1 million de dollars
Protection juridique	0,6 million de dollars

Biolife Solutions, Inc. (BLFS) - Modèle d'entreprise: Strots de revenus

Ventes de produits de médias bioponservation

Au cours de l'exercice 2023, Biolife Solutions a déclaré des revenus de vente de produits de 95,4 millions de dollars, avec une augmentation de 34% par rapport à l'année précédente.

Catégorie de produits	Revenus ($ m)	Pourcentage des ventes totales
Hypothermosol	42.6	44.7%
Cryostor	35.8	37.5%
Autres produits multimédias	17.0	17.8%

Licence des technologies propriétaires

En 2023, les revenus de licence ont atteint 6,2 millions de dollars, ce qui représente une croissance de 22% par rapport à 2022.

Services de conseil et de support technique

Les services techniques ont généré 3,8 millions de dollars de revenus pour l'exercice 2023.

Développement de solutions personnalisées

Les contrats de développement personnalisés ont contribué 5,5 millions de dollars aux revenus de l'entreprise en 2023.

Revenus récurrents des produits consommables

Les revenus récurrents des consommables représentaient environ 47% du total des ventes de produits, totalisant 44,8 millions de dollars en 2023.

Source de revenus récurrente	Revenus annuels ($ m)
Abonnements aux médias biopréservés	35.6
Accessoires consommables	9.2

• Revenu annuel total pour 2023: 111,5 millions de dollars
• Marge brute: 52,3%
• Croissance des revenus d'une année sur l'autre: 31%

BioLife Solutions, Inc. (BLFS) - Canvas Business Model: Value Propositions

De-risking the CGT supply chain by maintaining cell viability.

The foundational value proposition centers on protecting cell viability and function across the entire lifecycle: manufacturing, freezing, storage, and transport of sensitive biological materials. This is achieved through foundational tools like the biopreservation media portfolio, which includes CryoStor® and HypoThermosol®. The company's media are now embedded in 16 commercially approved therapies as of late 2025. Furthermore, this core technology supports approximately 250 ongoing commercially sponsored clinical trials in the U.S..

High-quality, cGMP-compliant bioproduction media.

BioLife Solutions supplies media products manufactured under cGMP (current Good Manufacturing Practice) standards, which is critical for regulatory compliance in cell and gene therapy (CGT) commercialization. The focus is on optimized, serum-free components designed for consistent performance across various cell types and processing conditions. For customers with an approved commercial therapy, approximately 40% of total Biopreservation Media (BPM) revenue originated from this segment in Q1 2025.

Integrated, end-to-end cell processing tools and services.

The company provides a suite of tools and services that complement the media, forming an integrated cell processing platform. This segment is the primary driver of revenue growth. You can see the financial scale of this platform below:

Metric	Q3 2025 Value	Year-over-Year Growth (vs Q3 2024)
Cell Processing Revenue	$25.4 million	33%
Full-Year 2025 Cell Processing Revenue Guidance (Post-Divestiture)	$93.0 million - $94.0 million	24% - 26% over 2024
Adjusted EBITDA Margin (Q3 2025)	28% of revenue	Expansion from 20% in Q2 2024

The acquisition of PanTHERA CryoSolutions enhances this offering with proprietary ice recrystallization inhibitor technology, though management does not expect material revenue from PanTHERA in 2025.

Embedded solutions in 16 commercially approved therapies.

The market penetration is evidenced by the number of commercial therapies relying on the company's solutions. As of the Q2 2025 report, the biopreservation media was embedded in 16 approved therapies. This adoption rate provides a high degree of revenue inevitability, as much of the growth is baked in from this established commercial base. The top 20 customers accounted for approximately 80% of BPM revenue in Q1 2025, showing significant concentration in high-value accounts.

Simplified logistics for sensitive biological materials.

Logistics simplification was a key component, historically supported by the evo cold chain logistics subsidiary. However, BioLife Solutions completed the divestiture of this subsidiary in early October 2025 to reshape the company into a pure-play cell processing entity. The value proposition now centers more tightly on the core cell processing tools and media, which still ensure viability during transport. The remaining platforms, including the Thaw platform, have a 2025 revenue guidance range of $9 million - $10 million.

The core value proposition is now focused on the following elements:

• Maintaining cell integrity during storage and transport.
• Providing cGMP-grade media for commercial products.
• Supporting over 250 active clinical trials.
• Driving 24% - 26% growth in the core Cell Processing segment for FY2025.
• Achieving an adjusted EBITDA margin of 28% in Q3 2025.

Finance: draft 13-week cash view by Friday.

BioLife Solutions, Inc. (BLFS) - Canvas Business Model: Customer Relationships

You're looking at how BioLife Solutions, Inc. (BLFS) locks in its value with customers, and honestly, it's all about deep integration and sticky consumables. The relationship starts way upstream, often involving a high-touch, consultative sales approach right when a cell and gene therapy (CGT) developer is figuring out their process. This isn't just selling a product; it's about becoming part of their scientific workflow. As of mid-2025, their biopreservation media is embedded in 16 approved therapies and actively supports over 250 clinical trials, with 30+ of those trials being in Phase III.

This consultative entry point naturally leads to an embedded supplier relationship with recurring media orders. Once their media is specified in a clinical protocol or, even better, an approved commercial process, switching costs become very high. This is where the recurring revenue engine kicks in. Management has been very clear that they are focusing on these commercial customers to drive growth, especially after the strategic divestiture of the evo Cold Chain business to focus on core competencies. The sales channel breakdown for the Biopreservation Media Platform (BPM) in Q2 2025 shows this direct relationship strength:

Sales Channel	Revenue Contribution (Q2 2025)
Direct Sales Force	60% of BPM Revenue
Distribution Partners	40% of BPM Revenue

The reliance on a few key partners is a defining feature of this relationship structure, which is why maintaining those ties is critical. You see this in the concentration metrics: the long-term contracts with top 20 customers who drive 80% of BPM revenue. While this concentration provides excellent near-term visibility and revenue predictability, it's also the most important risk to watch, as any shift with one of those major players could have an outsized impact.

To support these deep relationships, BioLife Solutions, Inc. provides extensive regulatory and technical support for Master File cross-referencing. This is crucial for customers moving from clinical to commercial manufacturing, as it helps them navigate the necessary documentation with agencies like the FDA. Historically, the company has helped partners optimize biopreservation protocols and integrated products like CellSeal Vials to solve specific customer challenges. This level of service solidifies the partnership beyond just the material itself. The structure of the sales team reflects this need for expertise:

• Direct sales force penetration for BPM revenue reached 60% in Q2 2025.
• The team includes technical application specialists to aid in workflow integration.
• Focus is on cross-selling the broader cell processing tools portfolio.

The direct sales force and technical application specialists are the boots on the ground executing this strategy. They are tasked with not just securing the initial media order but expanding adoption across the customer's entire cell processing workflow. Finance: draft 13-week cash view by Friday.

BioLife Solutions, Inc. (BLFS) - Canvas Business Model: Channels

You're looking at how BioLife Solutions, Inc. (BLFS) gets its critical biopreservation media and tools to the cell and gene therapy (CGT) market as of late 2025. The channel strategy is clearly bifurcated, leaning heavily on direct engagement for the largest accounts.

The core of the revenue generation, specifically from the Biopreservation Media (BPM) franchise, shows a distinct split in how sales are executed. This split is important because BPM is the engine, making up approximately 85% of the Q2 2025 cell processing revenue, which itself was $23.0 million in Q2 2025.

The direct sales team focuses on the biggest players. The top 20 customers were responsible for about 80% of the BPM revenue as of Q2 2025. Furthermore, roughly 40% of the total BPM revenue in Q2 2025 came from those 16 customers that already had an approved commercial therapy.

Here is a breakdown of the channel structure and associated metrics:

Channel	Revenue Contribution (BPM)	Primary Customer Focus	Relevant 2025 Metric/Data Point
Direct Sales Team	60%	Major biopharma and CGT customers (Top 20 account for ~80% of BPM revenue)	FY 2025 Cell Processing Revenue Guidance: $93.0 million to $94.0 million
Specialized Life Science Distributors	40%	Smaller labs and accounts; no weakness observed in Q2 or H2 2025 forecasts	Q3 2025 Total Revenue: $28.1 million
E-commerce Platform	Not explicitly quantified (Implied in smaller/R&D orders)	Smaller research and development orders	Cash and marketable securities: $100.2 million (as of Q2 2025 end)
Industry Visibility	N/A (Marketing/Branding)	Investors and Industry Stakeholders	Management participation in 6 major investor conferences in Nov/Dec 2025

The e-commerce platform is the mechanism for smaller, likely early-stage or non-core research orders, which contrasts with the high-touch, direct sales approach for commercial and late-stage clinical customers. The company is definitely using its presence at industry events to maintain visibility; for instance, management was set to present at the Stephens Annual Investment Conference and the Jefferies Global Healthcare Conference in November 2025.

To give you a sense of the scale based on Q3 2025 Cell Processing revenue of $25.4 million, and assuming the 60/40 split applies to the BPM portion (which is ~85% of that total), the approximate dollar contribution to BPM revenue for that quarter would look like this:

• Direct Sales (60% of BPM): Approximately $12.95 million based on Q3 2025 Cell Processing revenue.
• Distributor Sales (40% of BPM): Approximately $8.64 million based on Q3 2025 Cell Processing revenue.

The company's overall FY 2025 total revenue guidance, adjusted for the evo cold chain logistics subsidiary sale, is set between $95.0 million and $96.0 million. The adjusted gross margin for the full year 2025 is anticipated to be in the mid-60s percentage range.

BioLife Solutions, Inc. (BLFS) - Canvas Business Model: Customer Segments

You're looking at the core users of BioLife Solutions, Inc. (BLFS) products, the ones whose precious cargo-cells and gene therapies-depend on their specialized media and tools. This segment is highly concentrated, which is typical for a specialized supplier in a niche, high-growth market like cell and gene therapy (CGT).

The largest customer groups are clearly those with therapies already approved for commercial sale and the clinical developers pushing candidates through late-stage trials. BioLife Solutions, Inc. has established itself as the default partner across the development spectrum.

Here's a breakdown of the key customer segments as of late 2025, grounded in the latest reported figures:

• Cell and gene therapy (CGT) developers (largest segment). This group drives significant recurring revenue, as their success translates directly into sustained media consumption.
• Biopharmaceutical companies with approved commercial therapies. These customers provide the most durable revenue stream. In the first quarter of 2025, this group alone accounted for approximately 40% of total Biopreservation Media (BPM) revenue. By the third quarter of 2025, revenue from customers with commercially approved therapies was up 33% year-over-year, contributing to a 33% increase in overall Cell Processing revenue for that quarter.
• Academic and government research institutions. While not always the largest revenue driver, this segment represents the pipeline. BioLife Solutions, Inc. supports this by processing U.S. FDA Master File cross references, hitting a cumulative total of 782 as of the first quarter of 2025.
• Contract Development and Manufacturing Organizations (CDMOs). These organizations act as crucial intermediaries, using BioLife Solutions, Inc. products in their manufacturing services for various CGT clients.
• Customers with over 250 ongoing clinical trials using BioLife media. As of the third quarter of 2025, the company's biopreservation media was utilized in approximately 250 ongoing commercially sponsored clinical trials in the U.S., representing a market share of more than 70%.

To give you a clearer picture of the concentration and embedded nature of the customer base, look at the revenue drivers for the core Cell Processing platform, which is the bulk of the business:

Metric	Data Point (as of Q2/Q3 2025)	Source Period
Total Ongoing Commercially Sponsored U.S. Clinical Trials Using BPM	Approximately 250	Q3 2025
Market Share in Commercially Sponsored U.S. Clinical Trials	More than 70%	Q2/Q3 2025
Commercial CGTs with Embedded BPM	16 unique CGTs	Q3 2025
BPM Revenue from Customers with Approved Commercial Therapies	Approximately 40%	Q1 2025
BPM Revenue from Established Commercial Customers & Late-Stage Programs	More than half	Q3 2025
Top 20 Customers' Share of BPM Revenue	Approximately 80%	Q2 2025

The reliance on a relatively small group of top customers is definitely something to watch. The top 20 customers accounted for roughly 80% of BPM revenue in the second quarter of 2025. That's a high degree of dependence, so customer retention is key. Still, the fact that commercial customers are driving such strong growth-with Cell Processing revenue guidance for the full year 2025 set between $93.0 million and $94.0 million-shows the stickiness of their product once it's specified into a therapy's manufacturing process. If onboarding takes 14+ days, churn risk rises, but here, the specification is for the life of the therapy.

BioLife Solutions, Inc. (BLFS) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive the operations for BioLife Solutions, Inc. (BLFS) as of late 2025. The cost structure is heavily influenced by the specialized nature of their biopreservation media and the regulatory environment they operate in.

High cost of goods sold (COGS) for manufacturing proprietary media is a key factor, though the GAAP gross margin for the first quarter of 2025 remained steady at 63% of revenue, with non-GAAP adjusted gross margin at 66%. Given the Q1 2025 total revenue was $23.9 million, the GAAP Cost of Goods Sold (COGS) was approximately $8.843 million ($23.9 million revenue (1 - 0.63)). This reflects the expense of producing specialized, high-quality media.

Operating expenses are significant, reflecting the investments needed to support a growing, regulated business. Here is a breakdown of the key components based on Q1 2025 figures:

Expense Category	Q1 2025 Amount (USD Millions)	Notes
Total GAAP Operating Expenses	$25.2	Reported GAAP operating expenses for Q1 2025.
General and Administrative (G&A)	$11.501	As specified for Q1 2025.
Sales and Marketing (S&M) and Other OpEx	Approx. $11.495	Calculated as Total GAAP OpEx less specified G&A and R&D.
Research and Development (R&D)	$2.204	As specified for Q1 2025.

Significant general and administrative (G&A) expenses were cited at $11.501 million for Q1 2025. This covers the overhead required to manage a publicly traded company in the life sciences sector, including corporate functions and compliance infrastructure.

The company maintains ongoing R&D investment for new product development, with a figure of $2.204 million noted for Q1 2025. Management also flagged approximately $1M incremental R&D spend in 2025 specifically tied to integrating the PanTHERA CryoSolutions acquisition. This investment focuses on next-generation solutions, like combining IRI technology with CryoStor for potential -80°C logistics capability.

Sales and marketing (S&M) costs are embedded within the operating expenses, calculated here to be around $11.495 million for Q1 2025 based on the provided figures. These costs are necessary to support the global distribution of their biopreservation media (BPM) and cell processing tools, especially given that the top 20 customers represented approximately 80% of BPM revenue in Q1 2025.

Finally, inventory management and quality control for cGMP compliance are inherent cost drivers. Maintaining compliance with current Good Manufacturing Practice (cGMP) standards requires rigorous testing, documentation, and facility upkeep, which directly impacts COGS and operational overhead. The company's focus on having its media embedded in 17 unique commercial therapies as of Q1 2025 mandates this high level of quality assurance spending.

• Customers with approved commercial therapies represented approximately 40% of total BPM revenue in Q1 2025.
• The company raised its full-year 2025 Cell Processing revenue guidance to $93.0 million - $94.0 million as of November 2025.
• Adjusted EBITDA margin expanded to 24% of revenue in Q1 2025, up from 14% in Q1 2024.

Finance: draft 13-week cash view by Friday.

BioLife Solutions, Inc. (BLFS) - Canvas Business Model: Revenue Streams

The revenue streams for BioLife Solutions, Inc. are centered on its pure-play cell processing business following the divestiture of the evo cold chain logistics subsidiary for \$25.5 million in cash.

Sales of Biopreservation Media (BPM) like CryoStor represent the core recurring revenue component. This is a key driver, as the company emphasized strong demand from customers with commercially approved therapies. In the third quarter of 2025, a biopreservation media sales order of approximately \$1.3 million was shipped in Q3 instead of the anticipated Q4.

Sales of Cell Processing Tools, which are reported together with BPM under the Cell Processing platform, also contribute significantly. The company's biopreservation media is used in approximately 250 ongoing commercially sponsored clinical trials in the U.S.

The updated full-year 2025 financial outlook reflects strong momentum in the core business. BioLife Solutions projects 2025 total revenue between \$95.0 million and \$96.0 million, representing a 27% to 29% growth rate on a like-for-like basis compared to 2024 continuing operations revenues.

The Cell Processing platform revenue guidance for 2025 was raised to a range of \$93.0 million to \$94.0 million, indicating growth of 26% to 28% year-over-year.

Profitability metrics underscore the high-value nature of these revenue streams. The adjusted gross margin for core products in the third quarter of 2025 was reported at 64%. This contributed to an adjusted EBITDA margin of 28% of revenue in Q3 2025, up from 23% in Q3 2024.

Here's a look at the key revenue and margin figures from the third quarter of 2025 and the revised full-year guidance:

Metric	Q3 2025 Actual Amount	FY 2025 Guidance Range
Total Revenue	\$28.1 million	\$95.0 million to \$96.0 million
Cell Processing Platform Revenue	\$25.4 million	\$93.0 million to \$94.0 million
Adjusted Gross Margin	64%	Mid-60% range expected
Adjusted EBITDA Margin	28%	Continued expansion expected

The revenue composition for the third quarter of 2025 shows the heavy reliance on the Cell Processing segment:

• Cell Processing revenue accounted for 33% growth year-over-year in Q3 2025.
• Total Q3 2025 revenue of \$28.1 million represented a 31% increase year-over-year.
• GAAP gross margin for Q3 2025 was 62%.
• GAAP net income for Q3 2025 was \$621,000, or \$0.01 per share.