Financial Data and Key Metrics Changes - The company reported first quarter revenue of $169 million, exceeding expectations despite a $2 million foreign exchange headwind, representing a 10% increase year-on-year [29] - Organic revenue growth was 11%, and organic non-COVID revenue growth was 14%, indicating strong underlying performance [29][30] - Adjusted net income was $22 million, up 29% from the previous year, with adjusted fully diluted earnings per share increasing to $0.39 from $0.30 [33][35] Business Line Data and Key Metrics Changes - Organic revenue growth in the first quarter was driven by proteins, chromatography, and analytics, with proteins showing the highest growth [13] - Filtration revenues were slightly up, while capital equipment saw some softness due to timing, but a backlog supports growth in the latter half of the year [13][17] - Chromatography grew double digits, with orders increasing over 50%, marking the highest quarterly order intake in three years [24] Market Data and Key Metrics Changes - Biopharma revenues grew more than 20% year-on-year, supported by strong execution from strategic accounts [16] - North America represented 50% of total revenue, Europe 35%, and Asia Pacific 15%, with North America and Europe both up 13% [30] - China represented only 2% of total revenue, continuing to decline, but the company believes it can offset this due to strong performance in other regions [30][19] Company Strategy and Development Direction - The company is focused on executing its strategic plan for 2025, including the acquisition of the nine zero eight devices bioprocessing portfolio and launching new products [12][20] - The management emphasized the importance of a diversified customer base, with no single customer representing more than 6% of total revenue [14] - The company aims to leverage its global manufacturing network to mitigate tariff impacts and maintain strong growth [11][10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged macro uncertainties but expressed confidence in the underlying trends and opportunities within the business [8][9] - The company expects revenue growth to accelerate throughout the year, with strong order trends indicating momentum [27] - Management remains optimistic about the mid to long-term outlook for new modalities, despite short-term challenges [63] Other Important Information - The company made investments in finance and quality to improve visibility and customer experience [21] - Adjusted gross profit was $91 million, with a gross margin of 53.7%, up nearly 450 basis points year-on-year [31] - The company expects adjusted income from operations to be between $95 million to $102 million for the full year [41] Q&A Session Summary Question: CDMO order trends and tariff impacts - Management noted no acceleration in orders due to tariffs, with strong order intake across all CDMO customers [50][51] Question: Tariff dynamics and revenue exposure - Management indicated minimal revenue exposure to tariffs, estimating less than 1% sales increase from surcharges [54][56] Question: Emerging modalities and FDA changes - Management remains optimistic about new modalities, with no significant disruptions reported from customers regarding FDA changes [64] Question: Small biotech customer trends - Orders from small biotech were flat, with a decline in sales to emerging markets, raising concerns about the health of that segment [80] Question: Impact of FDA's guidance on animal testing - Management has not heard any tangible impacts from FDA guidance on animal testing, with no significant changes reported by customers [99]

Repligen (RGEN) Q1 2025 Earnings Call April 29, 2025 08:30 AM ET Company Participants Jacob Johnson - VP, Investor RelationsOlivier Loeillot - President & CEOJason Garland - Chief Financial OfficerDan Arias - Managing DirectorPuneet Souda - Senior MDSubbu Nambi - Managing DirectorDoug Schenkel - Managing Director Conference Call Participants Rachel Vatnsdal - AnalystNone - AnalystJustin Bowers - AnalystBrendan Smith - Director - Senior AnalystMatt Stanton - AnalystDan Leonard - Managing Director & Research ...

WALTHAM, Mass., April 29, 2025 -- Repligen Corporation (NASDAQ:RGEN), a life sciences company focused on bioprocessing technology leadership, today reported financial results for its first quarter of 2025, covering the three-month period ended March 31, 2025. The company is also providing updated financial guidance for the full year 2025. Exhibit 99.1 Repligen Corporation 41 Seyon Street Building #1, Suite 100 Waltham, Massachusetts 02453 Repligen Reports First Quarter 2025 Financial Results Olivier Loeillo ...

Core Insights - Repligen Corporation reported a strong start to 2025 with revenues of $169 million, reflecting a 10% year-over-year increase and 14% organic non-COVID growth, alongside a significant expansion in adjusted operating margins [2][6][8] - The company experienced nearly 20% growth in total orders, with all four business franchises achieving double-digit growth, indicating robust business momentum [2][6] - Repligen has updated its financial guidance for the full year 2025, projecting total reported revenue between $695 million and $720 million, with organic growth expectations of 9.5% to 13.5% [10][11] Financial Performance - Q1 2025 financial highlights include: - Revenue of $169 million, a 10% increase from $153 million in Q1 2024 [6][8] - Adjusted operating income rose by 72% year-over-year [6] - GAAP net income was $6 million, compared to $3 million in the prior year [8] - Adjusted earnings per share increased to $0.39 from $0.30 [8] Margin Summary - Gross margin improved to 53.6% in Q1 2025 from 50.1% in Q1 2024 [5][28] - Adjusted operating margin increased to 13.8% from 8.9% year-over-year [5][23] - Adjusted EBITDA margin rose to 19.3% compared to 14.4% in the previous year [5][26] Business Highlights - Revenues from biopharma and consumables grew over 20% year-over-year, reaching record levels excluding COVID-related sales [7] - The acquisition of 908 Devices' bioprocessing portfolio was completed, enhancing Repligen's process analytical technology offerings [7] - The launch of the CTech™ SoloVPE® Plus System introduced next-generation UV-based Variable Pathlength Technology, emphasizing accuracy and ease of use [7] Cash Position - As of March 31, 2025, cash and cash equivalents stood at $697 million, down from $757 million at the end of 2024 [9] Updated Financial Guidance - The updated guidance for FY 2025 includes: - Total reported revenue of $695 million to $720 million [11] - Adjusted net income projected between $92 million and $97 million [11][31] - Adjusted earnings per share expected to be between $1.63 and $1.72 [11][33]

Core Points - Repligen Corporation will report its first quarter 2025 financial results on April 29, 2025, with a conference call scheduled for 8:30 a.m. ET to discuss business updates and financial results for the period ending March 31, 2025 [1] Group 1: Financial Reporting - The company will issue a press release before the market opens on the reporting date [1] - A conference call will be accessible for domestic and international callers, with no passcode required for the live call [2] Group 2: Company Overview - Repligen Corporation is a global life sciences company focused on developing and commercializing innovative bioprocessing technologies for manufacturing biological drugs [3] - The company serves biopharmaceutical drug developers and contract development and manufacturing organizations (CDMOs) worldwide, with a focus on 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 sites in Europe [3]

Core Insights - Repligen Corporation has appointed Jacob Johnson as Vice President of Investor Relations, who will lead the engagement with the investment community [1][2] - Jacob Johnson has a strong background in the life sciences tools and pharma services sector, having covered Repligen as a research analyst since 2019 [2] - The company expresses gratitude towards outgoing Vice President Sondra Newman for her contributions since 2012 [2] Company Overview - Repligen Corporation is a global life sciences company focused on developing and commercializing innovative bioprocessing technologies for manufacturing 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] - Repligen's headquarters are located in Waltham, Massachusetts, with manufacturing sites primarily in the U.S. and additional key locations in Estonia, France, Germany, Ireland, the Netherlands, and Sweden [3]

Group 1 - Repligen Corporation appointed Jacob Johnson as Vice President of Investor Relations, who will lead the investor relations team and report to CFO Jason K. Garland [1][2] - Jacob Johnson has a strong background in the life sciences tools and pharma services sector, having covered Repligen as a research analyst since 2019, which will facilitate his engagement with investors [2] - The outgoing Vice President of Investor Relations, Sondra Newman, is retiring after a successful tenure since 2012, during which she led global investor relations and corporate communications [2] Group 2 - Repligen Corporation is a global life sciences company focused on developing 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] - Repligen's headquarters are located in Waltham, Massachusetts, with manufacturing sites primarily in the U.S. and additional key locations in Estonia, France, Germany, Ireland, the Netherlands, and Sweden [3]

Company Overview - Repligen (RGEN) shares increased by 3.7% to close at $116.11, supported by higher trading volume compared to normal sessions, despite a 28.1% loss over the past four weeks [1] - The company has shown positive investor sentiment across its business segments, particularly after acquiring 908 Devices' desktop portfolio to enhance manufacturing efficiencies [2] Earnings Expectations - Repligen is projected to report quarterly earnings of $0.35 per share, reflecting a year-over-year increase of 25%, with expected revenues of $164.48 million, up 8.7% from the previous year [3] - However, the consensus EPS estimate has been revised down by 0.8% over the last 30 days, indicating a negative trend in earnings estimate revisions, which typically does not lead to price appreciation [4] Industry Context - Repligen operates within the Zacks Medical - Biomedical and Genetics industry, where another company, Zealand Pharma A/S (ZLDPF), experienced a 5% decline in its stock price, down 19.6% over the past month [4] - Zealand Pharma's consensus EPS estimate has increased by 21.5% over the past month to -$0.77, representing a 42.6% decrease from the previous year's report [5]

I assigned a ‘buy’ rating to Repligen ( RGEN ) in July 2024, highlighting its strong filtration and weak growth in China. Since then, the stock price has surged by more than 14%. I believe Repligen’s business will gradually recover in FY25, supported byMore than 15 years of professional investment experience in global equities across all sectors. My investment style is fundamental, bottom-up, long-term, and quality growth-oriented. I am seeking companies specializing in niche markets, with strong growth pot ...

Financial Performance - Total revenue for 2024 was $634.4 million, a 0.3% increase from $632.4 million in 2023[283]. - Product revenue increased by $2.2 million, or 0.3%, in 2024, driven by a $31.6 million increase in Filtration product revenue, offset by a $29.0 million decrease in Proteins product revenue[286]. - Total costs and operating expenses for 2024 were $669.6 million, an increase of $84.9 million, or 14.5%, compared to $584.7 million in 2023[288]. - Gross margin decreased to 43.3% in 2024 from 44.0% in 2023, primarily due to increased restructuring costs[291]. - The company recorded an income tax benefit of $1.5 million in 2024, with an effective tax rate of 5.6%, down from 37.2% in 2023[305]. Debt and Financing - The company issued $600.0 million aggregate principal amount of 1.00% Convertible Senior Notes due 2028 in December 2023[270]. - The carrying value of the 2023 Notes was $525.6 million as of December 31, 2024[272]. - The company recognized a $12.7 million loss on extinguishment of debt for the year ended December 31, 2023[271]. - Interest expense surged by $18.2 million, or 728.2%, in 2024, primarily due to new debt issuance and related costs[299]. - In 2023, cash provided by financing activities totaled $249.0 million, including $290.1 million from the issuance of the 2023 Notes[318]. Inventory and Cost Management - The company recorded $36.0 million in inventory adjustments in 2024 due to discontinuation of certain product SKUs and proactive material procurement during the pandemic[260]. - Cost of goods sold rose by $5.9 million, or 1.7%, in 2024, including $12.5 million of inventory adjustments and $6.1 million related to closed manufacturing facilities[289]. - The company has successfully implemented price increases and productivity improvements to mitigate supply chain disruptions and inflation[252]. Research and Development - Research and development expenses increased by $0.5 million, or 1.1%, in 2024, primarily due to a $1.8 million rise in employee-related costs[293]. - R&D expenses for expanding protein product offerings were $3.1 million in 2024, $3.8 million in 2023, and $2.6 million in 2022[294]. - The company plans to continue investing in its bioprocessing business and R&D activities for new products[322]. Acquisitions and Investments - The company acquired Tantti for $54.8 million in cash in 2024, with an obligation for up to $54.5 million in contingent earnout payments over three years[308]. - Investing activities consumed $86.4 million in 2024, primarily due to the acquisition of Tantti and capital expenditures of $29.9 million[315]. Cash Flow and Liquidity - Cash and cash equivalents increased to $757.4 million as of December 31, 2024, compared to $751.3 million at the end of 2023[307]. - Cash provided by operating activities was $175.4 million in 2024, reflecting a net loss of $25.5 million and non-cash charges totaling $140.0 million[313]. Foreign Currency and Exchange Rates - The company’s revenue is significantly influenced by foreign currency exchange rates due to its global presence[251]. - 37.0% of total revenues were denominated in foreign currencies during 2024, compared to 37.9% in 2023[331]. - The U.S. dollar strengthened against the Swedish krona by 9%, the Euro by 6%, and the British pound by 2% in 2024[320]. - The company uses foreign exchange forward contracts to hedge against currency exchange rate fluctuations[332]. Contingent Consideration and Fair Value - The fair value of contingent consideration obligations for the year ended December 31, 2024 had a net change of $3.2 million primarily related to the acquisition of Avitide, Inc.[262]. - Contingent consideration adjustments for 2024 resulted in a fair value increase of $3.2 million, compared to decreases of $30.6 million in 2023 and $28.7 million in 2022[297]. Stock-Based Compensation - Stock-based compensation expense for 2024 was $48.1 million, compared to $25.6 million in 2023[277]. - As of December 31, 2024, there was $56.5 million of total unrecognized compensation cost related to unvested share-based awards[278]. - SG&A expenses increased by $44.8 million, or 20.5%, in 2024 compared to 2023, primarily due to $22.4 million related to the former CEO's equity awards modification[296].