BLFS · CIK 0000834365
What BioLife Solutions, Inc. told the SEC could break it.
Concentration runs through every part of BioLife's disclosures. Its revenue leans heavily on a single product family — about 82% came from its CryoStor line in 2025 — and on a few buyers, with three customers accounting for roughly 29% of revenue. The supply side mirrors that: two suppliers made up 12% and 11% of purchases, and it relies on single- and sole-source suppliers, including an outside U.S. contract manufacturer for its ThawSTAR thaw systems, so a disruption at any of them could impair its manufacturing. In short, the company is exposed if demand for CryoStor softens, a top customer pulls back, or a key supplier fails.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Customer concentration
- Three customers = ~29% of revenuemedium
BioLife derived approximately 29% of revenue from three customers in 2025 (32% in 2024); principal customers vary period to period and may not continue purchasing at current levels.
“During the years ended December 31, 2025, 2024, and 2023, we derived approximately 29%, 32%, and 29% of our revenue from three customers, respectively.”
SEC filing →As of 2026
Other disclosures
- ~82% of revenue from CryoStor product linemedium
Approximately 82% of revenue was derived from CryoStor products in 2025 (80% in 2024), concentrating results in a single product family.
“In the years ended December 31, 2025, 2024, and 2023, we derived approximately 82%, 80%, and 82% of our revenue from CryoStor products, respectively.”
SEC filing →As of 2026
Supplier concentration
- Two suppliers = 12%/11% of purchases; single/sole-source reliancemedium
Two suppliers accounted for 12% and 11% of purchases in 2025 (one was 27% in 2023), and BioLife relies on single-source and sole-source suppliers — including an unnamed US contract manufacturer for its ThawSTAR thaw systems — so supply-chain disruption could impair manufacturing.
“In the year ended December 31, 2025, two suppliers accounted for 12 % and 11 % of purchases, respectively. In the year ended December 31, 2023, one supplier accounted for 27 % of purchases.”
SEC filing →As of 2026
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