$BLFS
BIOLIFE SOLUTIONS INC

2017 Q1 Form 10-Q Financial Statement

#000143774918009522 Filed on May 11, 2018

View on sec.gov

Income Statement

Concept 2017 Q1
Revenue $2.366M
YoY Change 27.76%
Cost Of Revenue $928.4K
YoY Change 20.41%
Gross Profit $1.438M
YoY Change 33.0%
Gross Profit Margin 60.76%
Selling, General & Admin $1.615M
YoY Change -21.95%
% of Gross Profit 112.33%
Research & Development $286.8K
YoY Change -43.13%
% of Gross Profit 19.94%
Depreciation & Amortization $89.55K
YoY Change -2.44%
% of Gross Profit 6.23%
Operating Expenses $1.902M
YoY Change -26.1%
Operating Profit -$464.0K
YoY Change -68.91%
Interest Expense $83.33K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$406.3K
YoY Change -21269.93%
Pretax Income -$870.0K
YoY Change -41.61%
Income Tax
% Of Pretax Income
Net Earnings -$870.3K
YoY Change -29.06%
Net Earnings / Revenue -36.78%
Basic Earnings Per Share
Diluted Earnings Per Share -$67.13K
COMMON SHARES
Basic Shares Outstanding 13.00M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.300M
YoY Change 35.29%
Cash & Equivalents $2.290M
Short-Term Investments
Other Short-Term Assets $400.0K
YoY Change 0.0%
Inventory $1.812M
Prepaid Expenses
Receivables $1.061M
Other Receivables $0.00
Total Short-Term Assets $5.582M
YoY Change 5.19%
LONG-TERM ASSETS
Property, Plant & Equipment $1.135M
YoY Change -17.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.800M
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $3.017M
YoY Change -44.84%
TOTAL ASSETS
Total Short-Term Assets $5.582M
Total Long-Term Assets $3.017M
Total Assets $8.599M
YoY Change -20.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $638.0K
YoY Change -17.45%
Accrued Expenses $69.33K
YoY Change -38.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.086M
YoY Change -26.65%
LONG-TERM LIABILITIES
Long-Term Debt $3.900M
YoY Change
Other Long-Term Liabilities $800.0K
YoY Change 0.0%
Total Long-Term Liabilities $4.700M
YoY Change 487.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.086M
Total Long-Term Liabilities $4.700M
Total Liabilities $5.795M
YoY Change 158.01%
SHAREHOLDERS EQUITY
Retained Earnings -$72.10M
YoY Change 9.99%
Common Stock $74.90M
YoY Change 2.61%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.800M
YoY Change
Total Liabilities & Shareholders Equity $8.599M
YoY Change -20.2%

Cashflow Statement

Concept 2017 Q1
OPERATING ACTIVITIES
Net Income -$870.3K
YoY Change -29.06%
Depreciation, Depletion And Amortization $89.55K
YoY Change -2.44%
Cash From Operating Activities -$169.3K
YoY Change -89.35%
INVESTING ACTIVITIES
Capital Expenditures $37.15K
YoY Change 37.93%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$37.15K
YoY Change -103.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.091M
YoY Change 10806.0%
NET CHANGE
Cash From Operating Activities -169.3K
Cash From Investing Activities -37.15K
Cash From Financing Activities 1.091M
Net Change In Cash 884.1K
YoY Change -273.35%
FREE CASH FLOW
Cash From Operating Activities -$169.3K
Capital Expenditures $37.15K
Free Cash Flow -$206.5K
YoY Change -87.23%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2017Q1 blfs Payments On Equipment Financing
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CY2018Q1 us-gaap Concentration Risk Credit Risk
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Concentrations of credit risk and business risk</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 31, 2018, </div>we derived approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30%</div> of our product revenue from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> customers. In the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 31, 2017, </div>we derived approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21%</div> of our product revenue from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> customers. <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No</div> other customer accounted for more than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10%</div> of revenue in the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 31, 2018 </div>or <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017.</div> At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 31, 2018, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> customers accounted for approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34%</div> of total gross accounts receivable. At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> customers accounted for approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41%</div> of total gross accounts receivable.&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Revenue from customers located in foreign countries represented <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13%</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22%</div> of total revenue during the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 31, 2018 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> respectively. All revenue from foreign customers are denominated in United States dollars.&nbsp;</div></div></div></div></div></div></div></div></div>
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ProceedsFromNotesPayable
CY2017Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1000000
CY2018Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
57000
CY2018Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3171420
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3114963
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1086651
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1106036
CY2018Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
3271
CY2017Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
346454
CY2017Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
286751
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-74060651
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-73957883
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3814882
CY2017Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2366201
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3.80
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
55613
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
1.78
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1637951
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.76
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
CY2018Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
611502
CY2017Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
511944
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
373425
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
329895
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
6100
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
1.76
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
161768
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
237926
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
337981
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
1.79
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2390012
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2326844
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.85
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.87
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.16
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.62
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2018Q1 us-gaap Stock Issued1
StockIssued1
35625
CY2017Q1 us-gaap Stock Issued1
StockIssued1
35624
CY2018Q1 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
730
CY2018Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
62438
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
10471464
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
10092586
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14098610
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
12964639

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