How did BLFS outperform forecasts in Q1 2024?

BioLife Solutions (BLFS) outperformed forecasts in Q1 2024 primarily due to a strong sequential increase in core cell processing revenues, which grew by 11% to $14.8 million. This growth was driven by a focus on high-margin, recurring revenue streams and the divestiture of the slower-growing freezer business. Additionally, the company's portfolio of cell processing products is embedded in therapies that have the potential for significant growth, with 10 more therapies potentially approved by the end of the year. The company's strategic focus on high-margin业务 and favorable market trends contributed to this outperformance.