BIOLIFE SOLUTIONS INC
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 29, 2024
BLFS$38.61+3.5%Stored close · as of Oct 5, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| (In thousands) | 2023 | 2022 | 2021 |
| Cash flows from operating activities | |||
| Net loss | $(66,427) | $(139,805) | $(8,908) |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Impairment of intangible assets | 5,758 | 110,364 | — |
| Impairment of long-lived assets | 9,727 | — | — |
| Gain on settlement of Global Cooling escrow | (5,115) | — | — |
| Depreciation | 7,114 | 6,775 | 4,663 |
| Amortization of intangible assets | 5,181 | 9,697 | 8,202 |
| Amortization of loan costs | 13 | 18 | 121 |
| Stock-based compensation | 31,670 | 25,334 | 13,956 |
| Non-cash lease expense | 404 | 3,486 | 2,053 |
| Deferred income tax benefit | (62) | (5,238) | (20,127) |
| Change in fair value of contingent consideration | (2,193) | (4,754) | 2,875 |
| Change in fair value of warrant liability | — | — | 121 |
| Change in fair value of investments | — | (697) | — |
| Accretion of investments | (1,262) | (447) | — |
| Gain on acquisition of Sexton Biotechnologies, Inc. | — | — | (6,451) |
| Loss on disposal of assets held for rent, net | 594 | 773 | 609 |
| Loss on disposal of property and equipment, net | 633 | 745 | 482 |
| Forgiveness of loans payable | — | — | (284) |
| Other | — | 166 | 353 |
| Change in operating assets and liabilities, net of effects of acquisitions | |||
| Accounts receivable, trade, net | 15,351 | (10,753) | (10,132) |
| Inventories | (8,552) | (6,559) | 114 |
| Prepaid expenses and other current assets | 137 | 26 | 2,663 |
| Accounts payable | (8,425) | 414 | 2,018 |
| Accrued expenses and other current liabilities | 2,002 | 1,787 | (3,936) |
| Sales taxes payable | 1,311 | 1,526 | 1,412 |
| Warranty liability | (454) | (1,086) | 5,833 |
| Other | 97 | (260) | (230) |
| Net cash used in operating activities | (12,498) | (8,488) | (4,593) |
| Cash flows from investing activities | |||
| Cash acquired in acquisition of Global Cooling, Inc. and Sexton Biotechnologies, Inc. | — | — | 1,559 |
| Purchases of property and equipment | (6,381) | (10,385) | (8,385) |
| Purchases of assets held for rent | (4,856) | (3,536) | (6,371) |
| Proceeds from sale of equipment | — | — | 5 |
| Proceeds from sale of available-for-sale securities | 3,469 | 420 | — |
| Maturities of available-for-sale securities | 52,700 | 8,500 | — |
| Investment in available-for-sale securities | (27,095) | (53,116) | — |
| Net cash provided by (used in) investing activities | 17,837 | (58,117) | (13,192) |
| Cash flows from financing activities | |||
| Proceeds from term loan | — | 20,000 | — |
| Payments on term loan | (300) | (1,666) | — |
| Payments on equipment loans | (198) | (498) | (214) |
| Proceeds from equipment loans | — | — | 1,550 |
| Issuance of common stock | 10,244 | — | — |
| Fees paid related to issuance of common stock | — | (131) | (145) |
| Proceeds from line of credit | — | — | 27,306 |
| Payments on line of credit | — | — | (31,536) |
| Proceeds from exercise of common stock options | 507 | 323 | 1,418 |
| Proceeds from financed insurance premium | 2,639 | — | — |
| Payments on financed insurance premium | (2,365) | (1,375) | (1,033) |
| Other | 64 | (337) | (124) |
| Net cash provided by (used in) financing activities | 10,591 | 16,316 | (2,778) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 15,930 | (50,289) | (20,563) |
| Cash, cash equivalents, and restricted cash – beginning of period | 19,473 | 69,870 | 90,456 |
| Effects of currency translation on cash, cash equivalents, and restricted cash | 35 | (108) | (23) |
| Cash, cash equivalents, and restricted cash – end of period | $35,438 | $19,473 | $69,870 |
| Non-cash investing and financing activities | |||
| Cashless exercise of warrants reclassified from warrant liability to common stock | $— | $— | $2,901 |
| Stock issued as consideration to acquire Global Cooling, Inc. and Sexton Biotechnologies, Inc. | $— | $— | $264,718 |
| Assets acquired under operating leases | $880 | $243 | $6,875 |
| Assets acquired under finance leases | $1,682 | $— | $440 |
| Purchase of property and equipment not yet paid | $359 | $478 | $197 |
| Unrealized (gain) loss on available-for-sale securities | $(56) | $50 | $— |
| Unrealized gain on currency translation | $(12) | $— | $— |
| Cashless issuance of SciSafe earnout shares | $2,263 | $817 | $— |
| Returned shares from settlement of Global Cooling escrow | $(5,115) | $— | $— |
| Cash interest paid | $1,927 | $586 | $452 |
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