BioLife Solutions Inc (BLFS)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	35,951	-28,326	62,545	23,366	2,993
Revenue	US$ in thousands	142,625	160,996	118,837	48,087	27,366
Gross profit margin		25.21%	-17.59%	52.63%	48.59%	10.94%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $35,951K ÷ $142,625K
= 25.21%

BioLife Solutions Inc's gross profit margin has exhibited significant fluctuations over the past five years. In 2023, the gross profit margin improved to 25.21%, indicating that the company generated 25.21 cents of gross profit for every dollar of revenue. This marks a notable recovery from the negative gross profit margin of -17.59% in 2022, which suggested that the company incurred more costs than the revenue it generated from its core operations.

The gross profit margin peaked at 52.63% in 2021, showcasing strong profitability and efficiency in managing production costs and pricing strategies. This positive trend was also evident in 2020, with a solid gross profit margin of 48.59%. The lowest gross profit margin of 10.94% was recorded in 2019, reflecting a potential challenge in maintaining profitability and managing cost structures effectively.

Overall, the fluctuating trend in BioLife Solutions Inc's gross profit margin highlights the company's varying ability to control production costs, set competitive pricing, and optimize operational efficiency over the past five years. Monitoring this key financial metric is essential for assessing the company's profitability and performance in the competitive marketplace.