$BLFS
BIOLIFE SOLUTIONS INC

2017 Q2 Form 10-Q Financial Statement

#000143774918015098 Filed on August 09, 2018

View on sec.gov

Income Statement

Concept 2017 Q2
Revenue $2.558M
YoY Change 28.53%
Cost Of Revenue $956.8K
YoY Change 9.62%
Gross Profit $1.601M
YoY Change 43.3%
Gross Profit Margin 62.59%
Selling, General & Admin $1.624M
YoY Change -23.13%
% of Gross Profit 101.41%
Research & Development $318.6K
YoY Change -46.81%
% of Gross Profit 19.9%
Depreciation & Amortization $90.00K
YoY Change 0.0%
% of Gross Profit 5.62%
Operating Expenses $1.942M
YoY Change -28.36%
Operating Profit -$341.2K
YoY Change -78.59%
Interest Expense $104.6K
YoY Change -1145.82%
% of Operating Profit
Other Income/Expense, Net -$427.0K
YoY Change 239.37%
Pretax Income -$768.2K
YoY Change -55.34%
Income Tax
% Of Pretax Income
Net Earnings -$768.2K
YoY Change -43.35%
Net Earnings / Revenue -30.03%
Basic Earnings Per Share -$0.06
Diluted Earnings Per Share -$0.06
COMMON SHARES
Basic Shares Outstanding 13.10M
Diluted Shares Outstanding 13.10M

Balance Sheet

Concept 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.300M
YoY Change 76.92%
Cash & Equivalents $2.315M
Short-Term Investments
Other Short-Term Assets $400.0K
YoY Change 0.0%
Inventory $1.769M
Prepaid Expenses
Receivables $1.173M
Other Receivables $0.00
Total Short-Term Assets $5.679M
YoY Change 15.53%
LONG-TERM ASSETS
Property, Plant & Equipment $1.181M
YoY Change -13.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.600M
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $2.803M
YoY Change -50.26%
TOTAL ASSETS
Total Short-Term Assets $5.679M
Total Long-Term Assets $2.803M
Total Assets $8.482M
YoY Change -19.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $531.9K
YoY Change -38.47%
Accrued Expenses $63.62K
YoY Change -20.51%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.045M
YoY Change -53.83%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $56.14K
YoY Change -91.98%
Total Long-Term Liabilities $56.14K
YoY Change -91.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.045M
Total Long-Term Liabilities $56.14K
Total Liabilities $1.661M
YoY Change -44.72%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $79.69M
YoY Change 8.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.800M
YoY Change
Total Liabilities & Shareholders Equity $8.482M
YoY Change -19.61%

Cashflow Statement

Concept 2017 Q2
OPERATING ACTIVITIES
Net Income -$768.2K
YoY Change -43.35%
Depreciation, Depletion And Amortization $90.00K
YoY Change 0.0%
Cash From Operating Activities -$100.0K
YoY Change -91.6%
INVESTING ACTIVITIES
Capital Expenditures -$40.00K
YoY Change -80.95%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$40.00K
YoY Change -80.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 170.0K
YoY Change -83.81%
NET CHANGE
Cash From Operating Activities -100.0K
Cash From Investing Activities -40.00K
Cash From Financing Activities 170.0K
Net Change In Cash 30.00K
YoY Change -108.57%
FREE CASH FLOW
Cash From Operating Activities -$100.0K
Capital Expenditures -$40.00K
Free Cash Flow -$60.00K
YoY Change -93.88%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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blfs Class Of Warrant Or Right Exercised During Period
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blfs Class Of Warrant Or Right Exercised During Period Exercise Price
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blfs Deferred Costs Related To Stock Issuance Not Yet Paid
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blfs Payments On Equipment Financing
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blfs Payments On Equipment Financing
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blfs Proceeds From Exercise Of Common Stock Options And Warrants
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blfs Proceeds From Exercise Of Common Stock Options And Warrants
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blfs Receivables Converted To Equity Investment
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blfs Receivables Converted To Equity Investment
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us-gaap Allocated Share Based Compensation Expense
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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=" 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;"> June 30, 2018, </div>we derived approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38%</div> of our product revenue from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> customers and in the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2018, </div>we derived approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27%</div> of our 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> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017, </div>we did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> derive <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10%</div> or more of our product revenue from any <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> customer. <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;"> June 30, 2018, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> customers accounted for approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38%</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.</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;">Revenue from customers located in foreign countries represented <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11%</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13%</div> of total revenue during the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2018, </div>respectively, and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14%</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18%</div> during the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017, </div>respectively. All revenue from foreign customers is denominated in United States dollars.</div></div></div></div>
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us-gaap Net Cash Provided By Used In Financing Activities
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1139178
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CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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-427009
us-gaap Nonoperating Income Expense
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-281831
us-gaap Nonoperating Income Expense
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us-gaap Notes Issued1
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17604
us-gaap Notes Issued1
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us-gaap Number Of Operating Segments
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1
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1424491
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32537
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us-gaap Payment Of Financing And Stock Issuance Costs
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us-gaap Payments Of Stock Issuance Costs
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42228
us-gaap Payments To Acquire Property Plant And Equipment
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CY2018Q2 us-gaap Preferred Stock Dividends Income Statement Impact
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93258
CY2017Q2 us-gaap Preferred Stock Dividends Income Statement Impact
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us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
199508
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2018Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
3187
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
4250
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
3
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
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CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
352507
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
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us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
us-gaap Proceeds From Related Party Debt
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CY2018Q2 us-gaap Proceeds From Warrant Exercises
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8600000
us-gaap Proceeds From Warrant Exercises
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8700000
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3114963
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1043778
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1106036
us-gaap Repayments Of Long Term Capital Lease Obligations
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6541
us-gaap Repayments Of Long Term Capital Lease Obligations
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4360
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
324612
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
318607
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
671066
us-gaap Research And Development Expense
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-73014731
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RetainedEarningsAccumulatedDeficit
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CY2018Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5177854
CY2017Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2557765
us-gaap Revenue From Contract With Customer Including Assessed Tax
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us-gaap Revenue From Contract With Customer Including Assessed Tax
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4923966
CY2018Q2 us-gaap Selling And Marketing Expense
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641168
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
546455
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1252670
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1058399
us-gaap Share Based Compensation
ShareBasedCompensation
747805
us-gaap Share Based Compensation
ShareBasedCompensation
643768
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
13952
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
2.47
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
173768
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
6.47
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
237926
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
321204
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
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
4.29
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
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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
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us-gaap Stock Issued1
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us-gaap Stock Issued1
StockIssued1
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CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2017Q4 us-gaap Stockholders Equity
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CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
5194189
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4421217
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20374358
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13100820
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19063595
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13033106
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15180169
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13100820
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14642378
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13033106

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