Reconciliation of Full Year 2024 Revenue Guidance to Preliminary Unaudited Revenue for Continuing Operations
During the fiscal year ended December 31, 2024, the Company divested its freezer business through the previously disclosed sales of its former subsidiaries Global Cooling, Inc. ("GCI") in April 2024 and Arctic Solutions, Inc. (doing business as Custom Biogenics Systems) ("CBS") in November 2024. The Company also divested its storage business through the previously disclosed sale of its former subsidiary SciSafe, Inc. ("SciSafe") in November 2024. Each of the divested businesses previously qualified as a discontinued operation.
As disclosed in our earnings release of November 12, 2024, our revenue guidance for fiscal year 2024 did not include anticipated results from GCI or CBS for that period. Our revenue guidance for fiscal year 2024 did include anticipated results from SciSafe for fiscal year 2024.
The table below reconciles our preliminary unaudited revenue from continuing operations as disclosed herein, plus preliminary unaudited revenue from the discontinued operations of SciSafe for fiscal year 2024 (through the date of its divestiture), to our previously announced revenue guidance range that included anticipated fiscal year 2024 results from SciSafe.
| Product line (amounts in thousands) | Preliminaryunauditedtotalrevenuefromcontinuingoperationsfor fiscalyear 2024 (a) | Preliminaryunauditeddiscontinuedoperationsrevenue ofSciSafe forfiscal year2024(1) (b) | Preliminaryunauditedtotalrevenues ofoperationsfor fiscal year2024 (a) + (b) | Previously disclosed fiscal year 2024 revenue guidance range | Difference $ | Difference % | |||||
| Cell Processing | $ 73,535 | $ — | $ 73,535 | $72,000 - $73,000 | $1,535 - $535 | 2% - 1% | |||||
| Evo and Thaw | 8,719 | — | 8,719 | ||||||||
| SciSafe | — | 18,440 | 18,440 | ||||||||
| Total Biostorage services | 8,719 | 18,440 | 27,159 | $26,000 - $27,000 | $1,159 - $159 | 4% - 1% | |||||
| Total | $ 82,254 | $ 18,440 | $ 100,694 | $98,000 - $100,000 | $2,694 - $694 | 3% - 1% |
| (1) Column includes revenue from SciSafe through the date of its divestiture, which will be disclosed in the footnotes of our Form 10-K as a key component of the gain/loss from discontinued operations. This amount does not include revenues from GCI or CBS. |
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