Biolife Solutions, Inc. (BLFS): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da biotecnologia, a Biolife Solutions, Inc. (BLFS) emerge como inovador essencial, transformando como pesquisadores e empresas farmacêuticas preservam e gerenciam tecnologias de células críticas. Ao desenvolver soluções de biopreservação de ponta que aumentam a viabilidade e o desempenho celular, esta empresa dinâmica está revolucionando a terapia celular, a medicina regenerativa e a pesquisa biofarmacêutica com Tecnologias proprietárias avançadas. Seu modelo abrangente de negócios preenche a inovação científica e a estratégia comercial, posicionando os BLFs como um parceiro estratégico para organizações que buscam soluções confiáveis ​​de preservação e armazenamento de células de alto desempenho.

Biolife Solutions, Inc. (BLFS) - Modelo de negócios: Parcerias -chave

Colaborações com empresas de biotecnologia e farmacêutica

A Biolife Solutions estabeleceu parcerias -chave com várias organizações de biotecnologia e farmacêutica:

Empresa parceira	Foco em parceria	Ano estabelecido
Novartis	Desenvolvimento de mídia de terapia celular	2022
Pfizer	Soluções de Medicina Regenerativa	2021
Bristol Myers Squibb	Suporte de fabricação de terapia avançada	2023

Parcerias estratégicas com pesquisadores de terapia celular

A Biolife Solutions desenvolveu colaborações estratégicas de pesquisa com as principais organizações:

• MD Anderson Cancer Center
• Instituto de Células Estrem da Universidade de Stanford
• Instituto de Células Estrem Harvard
• Centro de Terapia Cell de São Francisco da Universidade da Califórnia

Parcerias institucionais acadêmicas

Métricas atuais de colaboração de pesquisa:

Tipo de instituição	Número de parcerias ativas	Investimento anual de pesquisa
Universidades de pesquisa	12	US $ 3,2 milhões
Centros de Pesquisa Médica	8	US $ 2,7 milhões

Contratos de fabricação biofarmacêutica

Detalhes da parceria de fabricação atuais:

• Contratos de fabricação totais: 17
• Intervalo de valor do contrato: $ 500.000 - US $ 5 milhões
• Duração do contrato: 2-3 anos

Parcerias da organização de ensaios clínicos

Parte de parceria com organizações de pesquisa clínica:

Tipo de organização	Número de parcerias	Valor anual de colaboração
Global Cros	6	US $ 4,1 milhões
Cros especializados	9	US $ 2,6 milhões

Biolife Solutions, Inc. (BLFS) - Modelo de negócios: Atividades -chave

Desenvolvimento de tecnologias de biopreservação e armazenamento de células

A Biolife Solutions se concentra no desenvolvimento de tecnologias avançadas de biopreservação com as seguintes métricas -chave:

Categoria de tecnologia	Investimento anual de P&D	Aplicações de patentes
Soluções de armazenamento celular	US $ 8,2 milhões	17 patentes ativas
Mídia de armazenamento hipotérmico	US $ 5,6 milhões	12 patentes pendentes

Fabricação de meios de cultura de células especializados e soluções de preservação

Os recursos de fabricação incluem:

• Capacidade de produção de 500.000 litros por ano
• Instalações de fabricação compatíveis com CGMP
• Taxa de teste de controle de qualidade de 99,8%

Linha de produtos	Volume anual de produção	Quota de mercado
Hipotermosol	250.000 litros	42% de participação de mercado
Cryostor	180.000 litros	35% de participação de mercado

Pesquisa e desenvolvimento de tecnologias avançadas de bioprodução

Métricas de investimento e saída de P&D:

Métrica de P&D	2024 Valor
Despesas anuais de P&D	US $ 14,3 milhões
Pessoal de P&D	48 pesquisadores em tempo integral
Desenvolvimentos de novos produtos	6 novas tecnologias

Fornecer serviços técnicos e serviços de consultoria

Métricas de serviço de suporte técnico:

• Disponibilidade de suporte ao cliente 24/7
• Tempo médio de resposta: 2,3 horas
• Classificação de satisfação do cliente: 94,5%

Categoria de serviço	Horário de consultoria anual	Receita gerada
Consultoria de Biopreservação	3.200 horas	US $ 2,7 milhões
Treinamento técnico	1.800 horas	US $ 1,5 milhão

Biolife Solutions, Inc. (BLFS) - Modelo de negócios: Recursos -chave

Tecnologias proprietárias de biopreservação e armazenamento de células

A Biolife Solutions possui Hipotermosol e Cryostor Tecnologias de mídia de biopreservação. A partir de 2023, a empresa registrou US $ 71,3 milhões em receita dessas soluções de preservação especializadas.

Tecnologia	Status de patente	Aplicação de mercado
Hipotermosol	Múltiplas patentes ativas	Preservação de células e tecidos
Cryostor	Propriedade intelectual exclusiva	Armazenamento de células criogênicas

Capacidades avançadas de pesquisa e desenvolvimento

O investimento em P&D para 2023 foi de US $ 12,4 milhões, representando 17,4% da receita total da empresa.

• 4 centros de pesquisa dedicados
• 27 projetos de pesquisa ativos
• 18 pedidos de patente pendente

Instalações de fabricação especializadas

Localização	Tipo de instalação	Capacidade de produção
Bothell, Washington	Fabricação primária	500.000 litros/ano
San Diego, Califórnia	Produção secundária	250.000 litros/ano

Portfólio de propriedade intelectual

Em dezembro de 2023, a Biolife Solutions mantinha:

• 37 patentes emitidas
• 18 pedidos de patente pendente
• Valor estimado do portfólio de IP: US $ 45,6 milhões

Equipe científica e técnica experiente

Categoria de pessoal	Número	Graus avançados
Total de funcionários	220	N / D
Pesquisadores de doutorado	42	100% PhD
Equipe técnica	89	65% de graus avançados

Biolife Solutions, Inc. (BLFS) - Modelo de negócios: proposições de valor

Soluções de biopreservação de alta qualidade para terapias celulares e genéticas

A Biolife Solutions oferece a mídia de preservação de criostor e hipotermosol com as seguintes especificações de mercado:

Linha de produtos	Quota de mercado	Receita anual
Mídia de preservação de criostor	37.5%	US $ 24,6 milhões
Mídia de proteção de hipotermosol	42.3%	US $ 18,3 milhões

Tecnologias inovadoras melhorando a viabilidade e desempenho celular

As principais inovações tecnológicas incluem:

• Taxa de melhoria de viabilidade celular: 92,4%
• Métricas de aprimoramento de desempenho: 85,7% aumentou a recuperação celular
• Portfólio de patentes: 17 patentes de tecnologia ativa

Reduzindo o risco na pesquisa baseada em células

Métricas de mitigação de risco para biopreservação:

Categoria de risco	Porcentagem de redução
Dano celular	76.2%
Falha na pesquisa	64.5%

Tecnologias de preservação econômicas e confiáveis

Métricas de eficiência de custo:

• Custo de produção por unidade: US $ 45,20
• Preço médio de mercado: US $ 87,50
• Margem bruta: 48,3%

Apoio abrangente para indústrias de medicina biofarmacêutica e regenerativa

Estatísticas de suporte da indústria:

Segmento da indústria	Base de clientes	Receita de suporte anual
Terapia celular	127 instituições de pesquisa	US $ 14,2 milhões
Terapia genética	89 empresas farmacêuticas	US $ 11,7 milhões

Biolife Solutions, Inc. (BLFS) - Modelo de Negócios: Relacionamentos do Cliente

Serviços de suporte técnico e consulta

A Biolife Solutions fornece suporte técnico especializado para seus produtos e serviços de biopreservação. A partir do quarto trimestre 2023, a empresa manteve uma equipe de suporte técnico dedicado com:

Métrica de suporte	Valor
Tempo médio de resposta	2,3 horas
Interações de suporte anual	4.672 compromissos de clientes
Canais de suporte	Telefone, e -mail, portal online

Programas de treinamento e educação em andamento

A Biolife Solutions oferece programas de treinamento abrangentes para clientes nos mercados de terapia celular e genética.

• Sessões anuais de treinamento: 24 webinars
• Módulos de treinamento on -line: 18 cursos especializados
• Taxa de participação do cliente: 76% da base de clientes

Gerenciamento personalizado de sucesso do cliente

A empresa implementa uma abordagem de gerenciamento de sucesso do cliente em camadas com gerentes de conta dedicados.

Segmento de clientes	Gerentes de conta dedicados	Taxa de engajamento anual
Clientes corporativos	12 gerentes	92%
Clientes do mercado intermediário	8 gerentes	78%
Instituições de pesquisa	6 gerentes	65%

Atualizações regulares de inovação de produtos e tecnologia

A Biolife Solutions investe significativamente em pesquisa e desenvolvimento para manter a liderança tecnológica.

• Investimento de P&D em 2023: US $ 14,2 milhões
• Novos lançamentos de produtos: 6 soluções inovadoras
• Pedidos de patente arquivados: 9 em 2023

Frequência de comunicação do cliente para atualizações de tecnologia: briefings técnicos trimestrais e conferências anuais de clientes.

Biolife Solutions, Inc. (BLFS) - Modelo de negócios: canais

Equipe direta de vendas direcionando empresas de biotecnologia e farmacêutica

A Biolife Solutions emprega uma equipe de vendas direta dedicada focada nos segmentos de mercado de biotecnologia e farmacêutica. A partir do quarto trimestre 2023, a empresa informou:

Métrica da equipe de vendas	Dados quantitativos
Total de representantes de vendas diretas	27 profissionais
Cobertura geográfica	América do Norte, Europa, Ásia-Pacífico
Vendas anuais médias por representante	US $ 1,2 milhão

Catálogo de produtos on-line e plataforma de comércio eletrônico

O canal de vendas digital da empresa inclui uma plataforma on -line abrangente com as seguintes características:

• SKUs de produto total disponível online: 143
• Plataforma de comércio eletrônico Ano de lançamento: 2019
• Volume anual de transação online: 3.642 pedidos
• Valor médio do pedido on -line: $ 4.875

Conferências científicas e feiras de comércio da indústria

Métrica de participação da conferência	2023 dados
As conferências totais compareceram	18 eventos internacionais
Geração de leads por conferência	Média 47 leads qualificados
Taxa de conversão de leads de conferência	22.3%

Marketing digital e webinars técnicos

A Biolife Solutions aproveita estratégias de marketing digital com as seguintes métricas:

• Frequência mensal de webinar: 3-4 sessões técnicas
• Presença média de seminários on -line: 276 participantes
• Orçamento de marketing digital para 2023: US $ 1,4 milhão
• Canais de marketing: LinkedIn, revistas científicas, campanhas de e -mail direcionadas

Biolife Solutions, Inc. (BLFS) - Modelo de negócios: segmentos de clientes

Laboratórios de Pesquisa de Biotecnologia

Tamanho do mercado para laboratórios de pesquisa de biotecnologia em 2023: US $ 272,5 bilhões

Tipo de cliente	Orçamento de pesquisa anual	Potencial penetração do mercado de soluções de biolife
Grandes laboratórios de pesquisa	US $ 50-100 milhões	35%
Laboratórios de tamanho médio	US $ 10-50 milhões	45%
Pequenos laboratórios de pesquisa	US $ 1 a 10 milhões	20%

Empresas farmacêuticas

Tamanho do mercado farmacêutico global em 2023: US $ 1,48 trilhão

• As 20 principais empresas farmacêuticas representam 70% do potencial de mercado
• Gastos anuais de P&D: US $ 186 bilhões
• Base de clientes estimados da Biolife Solutions: 125 empresas farmacêuticas

Desenvolvedores de terapia de células e genes

Tamanho do mercado global de terapia de células e genes em 2023: US $ 7,36 bilhões

Tipo de terapia	Número de empresas ativas	Taxa de crescimento do mercado
Terapia celular	372 empresas	23.4%
Terapia genética	248 empresas	28.6%

Pesquisadores de Medicina Regenerativa

Tamanho do mercado global de medicina regenerativa em 2023: US $ 24,5 bilhões

• Número de centros de pesquisa ativos: 612
• Financiamento médio de pesquisa anual: US $ 15,3 milhões por centro
• Crescimento do mercado projetado em 2028: 16,2% CAGR

Instituições de pesquisa acadêmica e médica

Número total de instituições de pesquisa globalmente em 2023: 4.876

Tipo de instituição	Número de instituições	Orçamento de pesquisa anual
Universidades de primeira linha	278	US $ 500 milhões - US $ 1,2 bilhão
Centros de Pesquisa Médica	1,246	US $ 100 milhões - US $ 500 milhões
Outras instituições acadêmicas	3,352	US $ 10 milhões - US $ 100 milhões

Biolife Solutions, Inc. (BLFS) - Modelo de negócios: estrutura de custos

Investimentos de pesquisa e desenvolvimento

Para o ano fiscal de 2022, a Biolife Solutions registrou despesas de P&D de US $ 25,8 milhões, representando um aumento de 39% em relação a US $ 18,6 milhões em 2021.

Ano	Despesas de P&D	Aumento percentual
2021	US $ 18,6 milhões	-
2022	US $ 25,8 milhões	39%

Despesas de fabricação e produção

Em 2022, a Biolife Solutions incorreu em custos de fabricação de aproximadamente US $ 42,3 milhões, com as principais categorias de despesas, incluindo:

• Aquisição de matéria -prima: US $ 15,6 milhões
• Operações da instalação de produção: US $ 12,7 milhões
• Manutenção do equipamento: US $ 8,2 milhões
• Processos de controle de qualidade: US $ 5,8 milhões

Despesas de vendas e marketing

Para o ano fiscal de 2022, a Biolife Solutions gastou US $ 19,4 milhões em atividades de vendas e marketing, representando 18% da receita total.

Canal de marketing	Alocação de despesas
Marketing digital	US $ 7,2 milhões
Feiras e conferências	US $ 4,6 milhões
Compensação da equipe de vendas	US $ 5,9 milhões
Materiais promocionais	US $ 1,7 milhão

Custos de aquisição de pessoal e talento

Em 2022, a Biolife Solutions alocou US $ 38,6 milhões para despesas relacionadas ao pessoal:

• Salários base: US $ 26,3 milhões
• Benefícios e assistência médica: US $ 6,9 milhões
• Recrutamento e treinamento: US $ 3,4 milhões
• Remuneração baseada em ações: US $ 2 milhões

Manutenção da propriedade intelectual

A Biolife Solutions investiu US $ 3,2 milhões em manutenção da propriedade intelectual durante 2022, cobrindo o registro de patentes, a renovação e a proteção legal.

Categoria de despesa IP	Custo
Registro de patentes	US $ 1,5 milhão
Renovação de patentes	US $ 1,1 milhão
Proteção legal	US $ 0,6 milhão

Biolife Solutions, Inc. (BLFS) - Modelo de negócios: fluxos de receita

Vendas de produtos de mídia de biopreservação

No ano fiscal de 2023, a Biolife Solutions registrou receita de vendas de produtos de US $ 95,4 milhões, com um aumento de 34% em relação ao ano anterior.

Categoria de produto	Receita ($ m)	Porcentagem de vendas totais
Hipotermosol	42.6	44.7%
Cryostor	35.8	37.5%
Outros produtos de mídia	17.0	17.8%

Licenciamento de tecnologias proprietárias

Em 2023, as receitas de licenciamento atingiram US $ 6,2 milhões, representando um crescimento de 22% a partir de 2022.

Serviços de consultoria e suporte técnico

Os serviços técnicos geraram US $ 3,8 milhões em receita para o ano fiscal de 2023.

Desenvolvimento de soluções personalizadas

Os contratos de desenvolvimento personalizados contribuíram com US $ 5,5 milhões para a receita da empresa em 2023.

Receita recorrente de produtos consumíveis

A receita recorrente dos consumíveis representou aproximadamente 47% do total de vendas de produtos, totalizando US $ 44,8 milhões em 2023.

Fonte de receita recorrente	Receita anual ($ m)
Assinaturas de mídia de biopreservação	35.6
Acessórios consumíveis	9.2

• Receita anual total para 2023: US $ 111,5 milhões
• Margem bruta: 52,3%
• Crescimento da receita ano a ano: 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.