Repligen Reports First Quarter 2025 Financial Results

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]