BioLife Solutions (BLFS) Q2 2026 earnings summary

Executive summary

• Revenue grew 21% year-over-year to $28.5 million for Q2 2026 and 23% to $56.0 million for the first half, driven by increased demand for biopreservation media products and cell processing tools for the CGT market.

• Net income from continuing operations was $45.1 million for Q2 2026, compared to a net loss of $15.3 million in Q2 2025, primarily due to a $42.4 million discrete tax benefit from the release of a valuation allowance.

• The company entered into a merger agreement with Repligen Corporation, under which shareholders will receive $11.25 in cash and 0.1442 shares of Repligen per share; the merger is valued at $1.5 billion and is expected to close in Q4 2026.

• Biopreservation media holds over 70% market share in U.S. clinical trials, embedded in 18 commercial CGTs, with further product and geographic expansion anticipated.

Financial highlights

• Q2 2026 revenue was $28.5 million, up 21% year-over-year and 4% sequentially; six-month revenue was $56.0 million, up 23% year-over-year.

• GAAP gross margin was 64% (Q2 2026), slightly down from 65% in Q2 2025; adjusted gross margin was 65%.

• GAAP net income for Q2 2026 was $45.1 million, including a $42.4 million non-cash income tax benefit; adjusted net income was $4.2 million.

• Adjusted EBITDA for Q2 2026 was $7.4 million (26% of revenue), up from $5.6 million (24%) in Q2 2025.

• Cash, cash equivalents, and available-for-sale/marketable securities totaled $113.1 million as of June 30, 2026.

Outlook and guidance

• Management expects current liquidity to be sufficient for at least the next twelve months and the foreseeable future.

• Anticipates approvals for 8 additional products, geographic expansions, and new indications over the next 12 months.

• The merger with Repligen is anticipated to close in Q4 2026, subject to regulatory and shareholder approvals.