BioLife Solutions, Inc. (NASDAQ:BLFS) Q4 2022 Earnings Call Transcript

Mike Rice: I’ll just speak mostly about channels, right, about direct and indirect and compared to what we have today in terms of a very modest number of feet on the street and a lot of distributors. And then our efforts to rationalize that network of distributors in APAC to make sure we’ve got the most productive, the most technically fluent from a sales perspective, most productive distributors carrying our solutions. So that’s the stuff we’re focused on.

Thomas Flaten: Got it. And then just one quick one on cross-selling. Is there a particular direction from which cross-selling has been most meaningful? Is it media customers buying freezers or maybe it’s freezer customers buying media? I’m just curious if you could characterize that a little bit for us?

Mike Rice: Yes, I’ll try. Well, the obvious one is within cell processing, the highest affinity is between the biopreservation media and the Sexton media vials and film machines because those are opportunities where it’s the exact same call point decision maker, influencer based amongst those two parts of that platform. And then I would draw some parallels to between freezers and our storage services because and it’s a benefit that we have now that in today’s capital equipment environment with some projects being delayed, we can in the same conversation offer to the customer or the prospect to store their biological material for them and our freezers and our facilities as opposed to just kind of having to walk away with our hat in their hands saying, well, okay, give me a call if your caskets freed up and you can place the order for freezers. So that’s another one that we’re really focused on.

Thomas Flaten: Got it. Appreciate you taking the questions. Thank you.

Mike Rice: Thank you, Thomas.

Operator: All right. And there are no further questions. I would like to turn the call back over to Mike Rice for any additional or closing comments.

Mike Rice: Thank you, Lisa. Thanks again everyone for your interest in BioLife. We hope you have a great evening and we look forward to seeing many of you next week at our Analyst Investor Day in Boston. Good night.

Operator: And that does conclude today’s presentation. Thank you for your participation and you may now disconnect.