BioLife Solutions (NASDAQ: BLFS) saw its stock plummet 6.08% in pre-market trading on Friday, following the release of its first-quarter 2025 earnings report. The medical equipment company's results, while showing some improvements, failed to meet investor expectations, particularly in terms of revenue.

The Q1 report, released after market close on Thursday, revealed a significant year-over-year revenue decline of 24.5%, with the company posting $23.94 million in sales. This figure fell short of the $22.22 million anticipated by analysts. Despite the revenue miss, BioLife Solutions reported a narrower-than-expected loss, with adjusted earnings per share (EPS) of -$0.01, beating the consensus estimate of -$0.05.

While the company's financial performance showed some resilience with a reduced net loss of $448,000, the substantial revenue decline appears to have spooked investors. The pre-market sell-off suggests that market participants are concerned about BioLife Solutions' growth trajectory, despite the company's efforts to control costs and improve profitability. It's worth noting that despite the current negative sentiment, Wall Street maintains a generally positive outlook on the stock, with a consensus "buy" rating and a median 12-month price target of $31.00.