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Side-by-side financial comparison of BIOLIFE SOLUTIONS INC (BLFS) and MIDDLEFIELD BANC CORP (MBCN). Click either name above to swap in a different company.

MIDDLEFIELD BANC CORP is the larger business by last-quarter revenue ($19.9M vs $18.8M, roughly 1.1× BIOLIFE SOLUTIONS INC). BIOLIFE SOLUTIONS INC runs the higher net margin — 58.9% vs 26.7%, a 32.2% gap on every dollar of revenue. On growth, BIOLIFE SOLUTIONS INC posted the faster year-over-year revenue change (24.3% vs 18.3%). Over the past eight quarters, MIDDLEFIELD BANC CORP's revenue compounded faster (13.7% CAGR vs 1.0%).

Biolife Solutions Inc. develops, manufactures and distributes specialized biopreservation products and cold chain management solutions for the cell and gene therapy, biopharmaceutical and regenerative medicine industries. It offers cryopreservation media, automated thawing systems, and temperature monitoring tools, serving biotech firms, research institutions and clinical labs globally.

Star Banc Corporation was a Cincinnati, Ohio-based regional bank holding company that acquired Firstar in 1998 and took the Firstar name; the merged bank acquired U.S. Bancorp in 2001 and took the U.S. Bancorp name. The company can trace its origins back to 1863 when it was first founded as the First National Bank of Cincinnati.

BLFS vs MBCN — Head-to-Head

Bigger by revenue
MBCN
MBCN
1.1× larger
MBCN
$19.9M
$18.8M
BLFS
Growing faster (revenue YoY)
BLFS
BLFS
+6.1% gap
BLFS
24.3%
18.3%
MBCN
Higher net margin
BLFS
BLFS
32.2% more per $
BLFS
58.9%
26.7%
MBCN
Faster 2-yr revenue CAGR
MBCN
MBCN
Annualised
MBCN
13.7%
1.0%
BLFS

Income Statement — Q4 FY2025 vs Q3 FY2025

Metric
BLFS
BLFS
MBCN
MBCN
Revenue
$18.8M
$19.9M
Net Profit
$11.1M
$5.3M
Gross Margin
Operating Margin
7.2%
32.2%
Net Margin
58.9%
26.7%
Revenue YoY
24.3%
18.3%
Net Profit YoY
-11.1%
127.4%
EPS (diluted)
$0.23
$0.65

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
BLFS
BLFS
MBCN
MBCN
Q4 25
$18.8M
Q3 25
$28.1M
$19.9M
Q2 25
$25.4M
$20.5M
Q1 25
$23.9M
$18.0M
Q4 24
$15.1M
$17.5M
Q3 24
$21.4M
$16.8M
Q2 24
$19.7M
$16.8M
Q1 24
$18.4M
$16.8M
Net Profit
BLFS
BLFS
MBCN
MBCN
Q4 25
$11.1M
Q3 25
$621.0K
$5.3M
Q2 25
$-15.8M
$6.2M
Q1 25
$-448.0K
$4.8M
Q4 24
$12.5M
$4.8M
Q3 24
$-1.7M
$2.3M
Q2 24
$-20.7M
$4.2M
Q1 24
$-10.2M
$4.2M
Operating Margin
BLFS
BLFS
MBCN
MBCN
Q4 25
7.2%
Q3 25
-0.3%
32.2%
Q2 25
-65.5%
35.9%
Q1 25
-5.1%
31.9%
Q4 24
3.6%
33.4%
Q3 24
-2.0%
16.1%
Q2 24
-6.6%
28.8%
Q1 24
-17.9%
29.4%
Net Margin
BLFS
BLFS
MBCN
MBCN
Q4 25
58.9%
Q3 25
2.2%
26.7%
Q2 25
-62.3%
30.0%
Q1 25
-1.9%
26.8%
Q4 24
82.5%
27.8%
Q3 24
-8.0%
13.9%
Q2 24
-105.1%
24.7%
Q1 24
-55.4%
24.9%
EPS (diluted)
BLFS
BLFS
MBCN
MBCN
Q4 25
$0.23
Q3 25
$0.01
$0.65
Q2 25
$-0.33
$0.76
Q1 25
$-0.01
$0.60
Q4 24
$0.27
$0.60
Q3 24
$-0.04
$0.29
Q2 24
$-0.45
$0.52
Q1 24
$-0.22
$0.51

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
BLFS
BLFS
MBCN
MBCN
Cash + ST InvestmentsLiquidity on hand
$33.0M
Total DebtLower is stronger
$5.0M
Stockholders' EquityBook value
$371.9M
$224.1M
Total Assets
$405.9M
$2.0B
Debt / EquityLower = less leverage
0.01×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BLFS
BLFS
MBCN
MBCN
Q4 25
$33.0M
Q3 25
$29.5M
Q2 25
$31.9M
Q1 25
$66.9M
Q4 24
$91.5M
Q3 24
$24.0M
Q2 24
$22.0M
Q1 24
$29.7M
Total Debt
BLFS
BLFS
MBCN
MBCN
Q4 25
$5.0M
Q3 25
$7.5M
Q2 25
$10.1M
Q1 25
$12.9M
Q4 24
$15.9M
Q3 24
$20.1M
Q2 24
$21.1M
Q1 24
$24.3M
Stockholders' Equity
BLFS
BLFS
MBCN
MBCN
Q4 25
$371.9M
Q3 25
$353.7M
$224.1M
Q2 25
$347.2M
$216.1M
Q1 25
$352.6M
$213.8M
Q4 24
$348.9M
$210.6M
Q3 24
$325.5M
$210.7M
Q2 24
$321.4M
$206.8M
Q1 24
$333.4M
$205.6M
Total Assets
BLFS
BLFS
MBCN
MBCN
Q4 25
$405.9M
Q3 25
$392.1M
$2.0B
Q2 25
$387.2M
$1.9B
Q1 25
$395.1M
$1.9B
Q4 24
$399.5M
$1.9B
Q3 24
$381.7M
$1.9B
Q2 24
$375.0M
$1.8B
Q1 24
$401.6M
$1.8B
Debt / Equity
BLFS
BLFS
MBCN
MBCN
Q4 25
0.01×
Q3 25
0.02×
Q2 25
0.03×
Q1 25
0.04×
Q4 24
0.05×
Q3 24
0.06×
Q2 24
0.07×
Q1 24
0.07×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
BLFS
BLFS
MBCN
MBCN
Operating Cash FlowLast quarter
$4.9M
$4.8M
Free Cash FlowOCF − Capex
$3.4M
FCF MarginFCF / Revenue
17.0%
Capex IntensityCapex / Revenue
7.2%
Cash ConversionOCF / Net Profit
0.44×
0.91×
TTM Free Cash FlowTrailing 4 quarters
$32.0M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BLFS
BLFS
MBCN
MBCN
Q4 25
$4.9M
Q3 25
$6.1M
$4.8M
Q2 25
$7.4M
$4.8M
Q1 25
$1.7M
$8.0M
Q4 24
$1.6M
$17.5M
Q3 24
$4.8M
$6.0M
Q2 24
$6.5M
$3.4M
Q1 24
$-4.5M
$5.4M
Free Cash Flow
BLFS
BLFS
MBCN
MBCN
Q4 25
Q3 25
$3.4M
Q2 25
$4.2M
Q1 25
$7.7M
Q4 24
$16.7M
Q3 24
$5.8M
Q2 24
$3.3M
Q1 24
$5.3M
FCF Margin
BLFS
BLFS
MBCN
MBCN
Q4 25
Q3 25
17.0%
Q2 25
20.5%
Q1 25
42.9%
Q4 24
95.6%
Q3 24
34.7%
Q2 24
19.3%
Q1 24
31.9%
Capex Intensity
BLFS
BLFS
MBCN
MBCN
Q4 25
Q3 25
7.2%
Q2 25
3.0%
Q1 25
1.5%
Q4 24
4.4%
Q3 24
1.0%
Q2 24
0.6%
Q1 24
0.5%
Cash Conversion
BLFS
BLFS
MBCN
MBCN
Q4 25
0.44×
Q3 25
9.83×
0.91×
Q2 25
0.78×
Q1 25
1.66×
Q4 24
0.13×
3.60×
Q3 24
2.57×
Q2 24
0.81×
Q1 24
1.31×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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