Biolife Solutions Inc (NASDAQ:BLFS) Q4 2019 Earnings Conference Call - Final Transcript

Mar 11, 2020 • 04:30 pm ET

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Biolife Solutions Inc (NASDAQ:BLFS) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by and welcome to the Q4 and Full Year 2019 BioLife Solutions, Inc. Earnings Conference Call. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Mr. Roderick de Greef Chief Financial Officer. Thank you. Please go ahead.

Executive
Rod de Greef

Thank you, Timmy. Good afternoon everyone, and thank you for joining us for the BioLife Solutions conference call to review the operating and financial results for the fourth quarter and full year of 2019. A few minutes ago, we issued a press release which summarizes our financial results for the three and 12 months ended December 31, 2019.

As a reminder, during this call we will make certain projections and other forward-looking statements regarding future events or the future financial performance of the Company. These statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations. For a detailed discussion of the risks and uncertainties that affect the Company's business and that qualify as forward-looking statements, I refer you to our periodic and other public filings filed with the SEC.

Company projections and forward-looking statements are based on factors that are subject to change and therefore these statements speak only as of the date they are given. The company assumes no obligation to update any projections or forward-looking statements except as required by law.

During this call we will speak to non-GAAP or adjusted results and guidance. Reconciliations of GAAP to non-GAAP or adjusted financial metrics are included in the press release we issued this afternoon. These non-GAAP or adjusted financial metrics should not be viewed as an alternative to GAAP. However, in light of our M&A activity, we believe that the use of non-GAAP or adjusted metrics provides investors with a clear view of our current financial results when compared to prior periods.

Now, I'd like to turn the call over to Mike Rice, President and CEO of BioLife.

Executive
Michael Rice

Thanks, Rod, and good afternoon everyone. Thank you for joining our call. 2019 was a remarkable year for BioLife on several fronts, we generated record revenue. Saw our media products embedded in 69 additional clinical applications, gained nearly 200 new customers, and through our acquisitions transform the Company from a single product supplier to a multi-solution provider of class-defining bioproduction tools to the high-growth cell and gene therapy market. We were early to realize that the base of bioproduction tools suppliers is highly fragmented, and also that cell and gene therapy developers are in desperate need of much better solutions in biopreservation, storage, cold chain management and sign.

Before we dive into the details of how our business performed in 2019, and what we expect for 2020 and beyond, I'd like to share some information about how we're managing through the current COVID-19 situation. Our corporate headquarters in biopreservation media production facility and warehouse are located in Bothell, Washington, just a few miles from the epicenter of the corona outbreak in the U.S. Over the