BioLife Solutions, Inc. — Earnings Quality Grade F
BLFS · Healthcare
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 30 days, change -11 days YoY
AR growth -6.2% vs revenue growth 28.9%
Revenue 28.9%, CFFO 138.6%. Cash follows revenue
Expense Quality
Inventory 3.9% vs COGS 38.9%. Normal
CapEx growth 458.5% is >2x revenue growth 28.9%
SG&A/Gross Profit = 89.1%, exceeds 70%
Gross margin 64.6%, change -2.5pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF $0.0B, FCF/NI = -0.09
Accruals ratio = -6.1%. Low accruals
Cash $0.1B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.2B = 57% of equity. Over 50%
Debt/EBITDA = -1.5x. Healthy
Other assets -78.9% vs revenue 28.9%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change -1% YoY. Normal
Manipulation Score
M-Score = -2.46 (< -2.22). Unlikely manipulator
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Beneish M-Score
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Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25