[Q2 2025 Performance Overview](index=1&type=section&id=Repligen%20Reports%20Second%20Quarter%202025%20Financial%20Results) The company reported strong Q2 2025 organic non-COVID growth, robust order momentum, and strategic product launches [Management Commentary](index=1&type=section&id=Management%20Commentary) The CEO highlighted an outstanding Q2 with 17% organic non-COVID growth, driven by strong momentum in both consumables and capital equipment. Order growth exceeded 20% year-over-year, marking the eighth consecutive quarter of orders surpassing non-COVID revenue. This performance led to an increase in the midpoint of the full-year 2025 organic growth guidance - Key performance drivers in Q2 2025 included: - **Organic Growth:** 17% organic non-COVID growth. - **Order Momentum:** Orders grew over 20% YoY, the fifth consecutive quarter of sequential order growth and the eighth straight quarter of orders exceeding non-COVID revenue. - **Guidance:** The company raised its full-year 2025 organic growth guidance midpoint due to strong performance and second-half visibility.[3](index=3&type=chunk)[4](index=4&type=chunk) [Q2 2025 Business Highlights](index=1&type=section&id=Q2%202025%20Business%20Highlights) Repligen reported strong, broad-based revenue growth across all franchises and geographies. Consumables grew over 20% and capital equipment grew in the high-teens. The company also launched a new single-use mixer, ProConnex® MixOne, and published its 2024 Sustainability report - Operational and strategic achievements in Q2 2025 include: - **Broad-Based Strength:** All franchises and geographies posted year-over-year growth, with consumables up >20% and biopharma revenue up 20%. - **New Product Launch:** Introduced ProConnex® MixOne, a single-use mixer integrating technology from several fluid management acquisitions. - **Sustainability:** Published the 2024 Sustainability report, "Perspectives on Progress", detailing ESG initiatives.[7](index=7&type=chunk) [Detailed Financial Results](index=1&type=section&id=Detailed%20Financial%20Results) Repligen achieved strong Q2 2025 revenue growth and improved GAAP profitability, with a solid cash and working capital position [Q2 2025 Financial Performance](index=1&type=section&id=Q2%202025%20Financial%20Performance) In the second quarter of 2025, Repligen achieved total revenue of $182 million, a 15% increase as reported and 17% on an organic non-COVID basis. GAAP EPS was $0.26, up from $0.10 in the prior year, while adjusted EPS was $0.37, compared to $0.40 in Q2 2024 Q2 2025 Key Financial Metrics (vs. Q2 2024) | Metric | Q2 2025 | Q2 2024 | Change | Growth Type | | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | $182M | $159M | +15% | As Reported | | **Organic Growth** | - | - | +11% | Organic | | **Organic Non-COVID Growth** | - | - | +17% | Organic Non-COVID | | **GAAP Income from Operations** | $14M | $5M | +180% | - | | **Adjusted Income from Operations** | $22M | $20M | +10% | - | | **GAAP EPS (Diluted)** | $0.26 | $0.10 | +160% | - | | **Adjusted EPS (Diluted)** | $0.37 | $0.40 | -7.5% | - | [Margin Summary](index=2&type=section&id=Margin%20Summary) For Q2 2025, GAAP gross margin was 50.0% and operating margin was 7.6%. On an adjusted basis, gross margin was flat year-over-year at 51.1%, while adjusted operating margin contracted to 12.0% from 12.8%. Adjusted EBITDA margin was stable at 17.6% Margin Performance: Q2 & 1H 2025 vs. 2024 | Margin Type | Q2 2025 | Q2 2024 | 1H 2025 | 1H 2024 | | :--- | :--- | :--- | :--- | :--- | | **GAAP Gross Margin** | 50.0% | 51.3% | 51.7% | 50.7% | | **GAAP Operating Margin** | 7.6% | 3.4% | 5.8% | 3.0% | | **Adjusted Gross Margin** | 51.1% | 51.1% | 52.3% | 50.2% | | **Adjusted Operating Margin** | 12.0% | 12.8% | 12.9% | 10.9% | | **Adjusted EBITDA Margin** | 17.6% | 17.6% | 18.5% | 16.0% | [Balance Sheet and Cash Position](index=2&type=section&id=Balance%20Sheet%20and%20Cash%20Position) As of June 30, 2025, the company held $709 million in cash, cash equivalents, and short-term investments, a decrease from $757 million at the end of 2024. Working capital remained stable at approximately $934 million Key Balance Sheet Data (in thousands) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $708,855 | $757,355 | | Working capital | $933,853 | $939,254 | [Full Year 2025 Financial Guidance](index=2&type=section&id=FINANCIAL%20GUIDANCE%20FOR%20FISCAL%20YEAR%202025) The company raised its full-year 2025 revenue and EPS guidance, reflecting strong performance and favorable currency trends [Updated Guidance Metrics](index=2&type=section&id=Updated%20Guidance%20Metrics) Repligen raised its full-year 2025 revenue guidance to a range of $715-$735 million, representing 12.5%-15.5% organic non-COVID growth. The company projects adjusted EPS to be between $1.65 and $1.72, with an adjusted operating margin of 13.5%-14.5% FY 2025 Guidance (as of July 29, 2025) | Metric | GAAP Guidance | Adjusted (non-GAAP) Guidance | | :--- | :--- | :--- | | **Total Reported Revenue** | $715M - $735M | $715M - $735M | | **Organic, Non-COVID Growth** | 12.5% - 15.5% | - | | **Gross Margin** | 51.5% - 52.5% | 52% - 53% | | **Operating Margin** | 7% - 8% | 13.5% - 14.5% | | **Adjusted EBITDA Margin** | - | 19.5% - 20.5% | | **Net Income** | $48M - $51.5M | $93.5M - $97M | | **EPS - Diluted** | $0.85 - $0.92 | $1.65 - $1.72 | [Guidance Assumptions](index=2&type=section&id=Guidance%20Assumptions) The updated guidance incorporates a 1% tailwind from foreign currency, a shift from a previously assumed 1.5% headwind. It also accounts for a ~1% headwind from new modalities, which is offset by strength in other portfolio areas, and a modest impact from tariff surcharges - Key assumptions underpinning the FY2025 guidance include: - **Foreign Currency:** A 1% tailwind, revised from a prior 1.5% headwind assumption. - **New Modalities:** An approximate 1% headwind, which is more than offset by strength elsewhere in the business. - **Tariffs:** A modest impact from tariff surcharges is included.[10](index=10&type=chunk) [Reconciliation of GAAP to Non-GAAP Measures](index=3&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) Non-GAAP adjustments clarify core business performance by excluding non-recurring or non-operational items from GAAP results [Overview of Non-GAAP Measures](index=3&type=section&id=Overview%20of%20Non-GAAP%20Measures) The company provides non-GAAP financial measures to supplement its GAAP results. These adjustments exclude items such as acquisition and integration costs, restructuring charges, intangible amortization, non-cash interest expense, and other costs that management believes do not reflect the performance of ongoing operations - Non-GAAP results exclude various items to provide a clearer view of core business performance. Key exclusions include: - Acquisition and integration costs - Restructuring charges - Inventory step-up costs - Intangible amortization costs - Non-cash interest expense[15](index=15&type=chunk) [Revenue Growth Reconciliation](index=6&type=section&id=Revenue%20Growth%20Reconciliation) For Q2 2025, the 15% reported revenue growth was adjusted for a 2% negative impact from acquisitions and a 2% negative impact from currency exchange, resulting in 11% organic growth. A further adjustment for a 6% positive impact from COVID-related revenue led to 17% organic non-COVID revenue growth Q2 2025 Revenue Growth Reconciliation | Description | Growth Rate | | :--- | :--- | | **Total Reported Revenue Growth (GAAP)** | **15%** | | Less: Acquisition revenue | (2)% | | Less: Currency exchange | (2)% | | **Organic Revenue Growth (Non-GAAP)** | **11%** | | Plus: COVID revenue impact | 6% | | **Organic Non-COVID Revenue Growth (Non-GAAP)** | **17%** | [Profitability Reconciliations](index=6&type=section&id=Profitability%20Reconciliations) In Q2 2025, GAAP income from operations of $13.9 million was adjusted to $21.9 million on a non-GAAP basis, primarily by excluding $10.2 million in intangible amortization and adding back a $7.9 million gain from contingent consideration. Similarly, GAAP Net Income of $14.9 million was adjusted to $21.2 million, with major adjustments for intangible amortization, contingent consideration, and non-cash interest expense - Key adjustments to reconcile GAAP to Non-GAAP profitability for Q2 2025 include: - **Intangible Amortization:** +$10.2 million adjustment to operating income. - **Contingent Consideration:** -$7.9 million adjustment to operating income due to a change in fair value. - **Acquisition and Integration Costs:** +$4.3 million adjustment to operating income. - **Non-cash Interest Expense:** +$3.8 million adjustment to net income.[24](index=24&type=chunk)[25](index=25&type=chunk) [Guidance Reconciliations](index=9&type=section&id=Guidance%20Reconciliations) The company's full-year 2025 GAAP net income guidance of $48.0-$51.5 million is reconciled to adjusted net income of $93.5-$97.0 million. The primary adjustments include excluding anticipated pre-tax amortization of intangibles ($38.8M), non-cash interest expense ($14.8M), and acquisition costs ($12.7M), while also factoring in a gain on contingent consideration (-$11.1M) FY 2025 Net Income Guidance Reconciliation (Low End) | Description | Amount (in thousands) | | :--- | :--- | | **Guidance on Net Income (GAAP)** | **$48,000** | | Anticipated amortization of intangibles | $38,808 | | Non-cash interest expense | $14,826 | | Acquisition and integration costs | $12,677 | | Contingent Consideration | ($11,053) | | Other adjustments & tax effects | ($11,359) | | **Guidance on Adjusted Net Income (Non-GAAP)** | **$93,500** |

Core Insights - Repligen Corporation reported a strong second quarter in 2025 with a 17% organic non-COVID growth and a 15% increase in revenue year-over-year, reaching $182 million [2][6][19] - The company raised its full-year revenue guidance to a range of $715 million to $735 million, reflecting a 12.5% to 15.5% year-over-year non-COVID organic growth [6][10] - The company experienced broad-based revenue strength across all franchises, with consumables up over 20% and capital equipment growing in the high teens [7][19] Financial Performance - Q2 2025 revenue was $182 million, a 15% increase from the previous year, with orders growing over 20% year-over-year [6][19] - GAAP net income for Q2 2025 was $15 million, compared to $6 million in Q2 2024, while adjusted net income was $21 million compared to $22 million [6][19][23] - Gross margin for Q2 2025 was 50.0%, down from 51.3% in Q2 2024, while operating margin improved to 7.6% from 3.4% [5][22] Business Highlights - The company launched a new product, ProConnex MixOne, enhancing its portfolio in fluid management technology [7] - Repligen published its 2024 Sustainability report, showcasing progress in environmental, social, and governance (ESG) initiatives [7] - The company reported cash and cash equivalents of $709 million as of June 30, 2025, down from $757 million at the end of 2024 [8][19] Financial Guidance - The updated guidance for FY 2025 includes total reported revenue of $715 million to $735 million, with adjusted net income projected between $93.5 million and $97 million [10][31] - The company anticipates a gross margin of 51.5% to 52.5% and an operating margin of 7% to 8% for the full year [10][30] - Adjusted earnings per share for FY 2025 is expected to be between $1.65 and $1.72 [31]

Core Insights - Zacks Premium provides various tools for investors to enhance their stock market strategies and confidence [1] - The Zacks Style Scores are designed to help investors select stocks with the highest potential to outperform the market in the short term [2] Zacks Style Scores Overview - The Style Scores categorize stocks into four types: Value Score, Growth Score, Momentum Score, and VGM Score, each focusing on different investment strategies [3][4][5][6] - Value Score identifies undervalued stocks using financial ratios [3] - Growth Score emphasizes companies with strong financial health and growth potential [4] - Momentum Score targets stocks with favorable price trends [5] - VGM Score combines all three styles to provide a comprehensive assessment of stocks [6] Zacks Rank and Style Scores Interaction - The Zacks Rank is a proprietary model that uses earnings estimate revisions to guide investment decisions, with 1 (Strong Buy) stocks historically yielding an average annual return of +23.62% since 1988 [7] - Investors are encouraged to select stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B for optimal returns [9] - Stocks with lower ranks, even with good Style Scores, may still face downward price pressure due to negative earnings forecasts [10] Company Spotlight: Repligen Corporation - Repligen Corporation, based in Waltham, MA, specializes in advanced bioprocessing technologies for biopharmaceutical manufacturing [11] - The company holds a Zacks Rank of 2 (Buy) and a VGM Score of B, indicating strong potential [11] - Repligen is projected to achieve year-over-year earnings growth of 6.3% for the current fiscal year, with an upward revision in earnings estimates [12] - The Zacks Consensus Estimate for Repligen's earnings is $1.68 per share, with an average earnings surprise of +11.3% [12]

Core Viewpoint - Repligen Corporation will report its second quarter 2025 financial results on July 29, 2025, and will host a conference call to discuss these results and business updates [1] Group 1: Financial Reporting - The financial results for the three- and six-month periods ended June 30, 2025, will be discussed during the conference call [1] - A press release will be issued before the market opens on the same day [1] Group 2: Conference Call Details - The conference call can be accessed by dialing toll-free (800) 715-9871 for domestic callers and (646) 307-1963 for international callers, with no passcode required [2] - A webcast will also be available via the Investor Relations section of the Company's website, and both the call and webcast will be archived for later access [2] Group 3: Company Overview - Repligen Corporation is a global life sciences company focused on developing and commercializing innovative bioprocessing technologies for the manufacturing of biological drugs [3] - The company serves biopharmaceutical drug developers and contract development and manufacturing organizations (CDMOs) worldwide, with a focus on areas such as Filtration and Fluid Management, Chromatography, Process Analytics, and Proteins [3] - The corporate headquarters is located in Waltham, Massachusetts, with manufacturing sites primarily in the U.S. and additional key locations in Europe [3]

Investor Presentation May 2025 1 January 14, 2025 Safe Harbor / Non-GAAP financial measures This presentation contains forward-looking statements within the meaning of the federal securities laws. Statements in this presentation which are not strictly historical statements including, without limitation, express or implied statements or guidance regarding Repligen's financial results for full year 2025, future financial performance and other statements identified by words like "estimated," "anticipated," "gu ...

Group 1 - U.S. stock futures are higher, with Dow futures gaining over 150 points [1] - Sarepta Therapeutics, Inc. shares fell 31.4% to $24.86 after suspending ELEVIDYS shipments and pausing ENVISION trial due to a second fatal liver failure in non-ambulatory Duchenne patients [1] Group 2 - KULR Technology Group, Inc. shares fell 21.9% to $0.8980 following a 1-for-8 reverse stock split [4] - Gold Royalty Corp. shares dipped 14.7% to $1.95, despite Canaccord Genuity initiating a Buy rating with a $3 price target [4] - Solid Biosciences Inc. shares fell 8% to $4.15, with JMP Securities reiterating a Market Outperform rating and maintaining a $15 price target [4] - Omada Health, Inc. shares declined 5.4% to $16.18 [4] - Repligen Corporation shares decreased 4% to $122.50 [4] - IonQ, Inc. shares slipped 3.2% to $36.65 [4] - Tango Therapeutics, Inc. shares declined 3.2% to $4.54 [4]

Repligen (RGEN) FY Conference Summary Company Overview - Repligen positions itself as an innovation leader in bioprocessing, focusing heavily on R&D to launch unique products that enhance drug manufacturing efficiency, yield, and cost-effectiveness [4][5] - The company has a global manufacturing footprint with approximately 1,700 employees [5] - Sales distribution: 65% clinical and 35% commercial, with 80% of sales coming from monoclonal antibodies (mAbs) and 18% from new modalities [5][6] Market Insights - The mAbs market is projected to reach USD 250 billion in 2024, with a CAGR of 8% to 10% over the next five to ten years [7] - New modalities are expected to grow at a significantly higher CAGR of around 30% [9] - The total addressable market (TAM) for Repligen has increased from USD 4 billion to USD 12 billion over the past few years, indicating substantial growth potential [16][25] Financial Performance - Revenue increased tenfold, with EPS rising from $0.25 to $1.58 [15][16] - The company holds a 5% market share in its total addressable market, indicating significant room for growth [17] - In Q1, organic revenue growth was 14%, with order intake up nearly 20% compared to the previous year [42][43] Strategic Initiatives - Repligen has completed 15 acquisitions over the last several years, enhancing its product portfolio and market position [13][26] - The company aims to double its size in the next few years through organic growth and smaller acquisitions [17] - Focus on digitization and process automation to improve operational efficiency and customer experience [36][40] Product Portfolio - The product portfolio includes filtration, chromatography, and protein products, with a notable shift from protein to filtration as a key growth area [7][26] - New product innovations include ATF technology for process intensification and FlowVPX for inline concentration measurement, which enhance manufacturing efficiency [19][20] Customer Focus - Repligen emphasizes customer-centricity, aiming to improve customer experience and expand relationships across multiple product lines [47][50] - The company has diversified its customer base, reducing reliance on top customers from 81% to one-third of sales [33] Future Outlook - The company is focused on maintaining growth momentum, enhancing customer experience, and expanding margins by targeting a 100 to 200 basis point EBIT expansion in 2025 [48][49] - Continued investment in innovation and integration of recent acquisitions is a priority [50][51] Industry Trends - The bioprocessing market is expected to remain resilient, with significant opportunities in both commercial and clinical sectors [54] - There is a shift towards sourcing early-phase projects from outside the U.S., indicating a changing landscape in biopharma innovation [60][61]

Company Overview - Repligen (RGEN) shares have decreased by approximately 12.2% over the past month, underperforming the S&P 500 [1] - The most recent earnings report is essential to understand the key drivers affecting the stock [1] Earnings Estimates - Estimates for Repligen have trended downward, with a consensus estimate shift of -5.33% in the past month [2] VGM Scores - Repligen has a Growth Score of B, but a low Momentum Score of D, and a Value Score of D, placing it in the bottom 40% for value investment strategy [3] - The overall aggregate VGM Score for Repligen is C, which is relevant for investors not focused on a single strategy [3] Market Outlook - The downward trend in estimates indicates a negative outlook for Repligen, with a Zacks Rank of 3 (Hold), suggesting an expectation of in-line returns in the coming months [4] Industry Comparison - Repligen is part of the Zacks Medical - Biomedical and Genetics industry, where Gilead Sciences (GILD) has seen a 1.8% increase in stock price over the past month [5] - Gilead reported revenues of $6.67 billion for the last quarter, reflecting a year-over-year decline of -0.3%, with an EPS of $1.81 compared to -$1.32 a year ago [5] - For the current quarter, Gilead is expected to report earnings of $1.99 per share, indicating a -1% change from the previous year, with a slight estimate change of -0.1% over the last 30 days [6]

Core Insights - Repligen Corporation has published its 2024 Corporate Sustainability Report themed "Perspectives on Progress," highlighting advancements in sustainability across six key impact areas: Products & Packaging, Operations, Talent, Supply Chain, Communities, and Partnerships & Pathways [1][2] - The report includes disclosures aligned with the United Nations Sustainable Development Goals (UN SDGs) and key reporting frameworks such as the Global Reporting Initiative (GRI) Standards and Sustainability Accounting Standards Board (SASB) [1] Sustainability Highlights - The company transitioned to 100% renewable electricity across all 19 manufacturing sites, representing 100% of total global consumption [6] - Waste generation was reduced by 25%, and total waste intensity decreased by 32% on a normalized-to-revenue basis from 2023 to 2024 [6] - The global Scope 3 emissions inventory was expanded to cover all material emissions categories, increasing from 9 to 11 out of 15 compared to 2023 [6] - Repligen completed the UNGC Network USA Business and Human Rights Accelerator program, integrating the learnings into its corporate sustainability strategy [6] - A new customer-focused Repligen Training and Innovation Center (RTIC) was opened in Waltham, MA [6]

Company Overview - Repligen Corporation is a global life sciences company focused on developing and commercializing innovative bioprocessing technologies and systems that enhance the manufacturing efficiency of biological drugs [3] - The company primarily serves biopharmaceutical drug developers and contract development and manufacturing organizations (CDMOs) worldwide [3] - Key focus areas include Filtration and Fluid Management, Chromatography, Process Analytics, and Proteins [3] Upcoming Event - Repligen will participate in the William Blair 45th Annual Growth Stock Conference from June 3 to June 5 in Chicago [1] - Olivier Loeillot, President and CEO, is scheduled to present a company overview on June 3 at 1:20 p.m. CT [1] - A live webcast of the presentation will be available on Repligen's Investor Relations website and will be accessible for replay for a limited time after the event [2]