Repligen's Q1 Earnings Beat Estimates, Revenues Surge Y/Y

Core Insights - Repligen Corporation reported first-quarter 2025 adjusted earnings per share of 39 cents, exceeding the Zacks Consensus Estimate of 35 cents and up from 30 cents in the same quarter last year [1][5] - Total revenues reached $169 million, reflecting a 10% year-over-year increase, and an 11% organic growth when excluding acquisition and currency impacts, surpassing the Zacks Consensus Estimate of $164 million [2][6] - The company anticipates total revenues for 2025 to be between $695 million and $720 million, slightly higher than previous guidance, while adjusted EPS is expected to be between $1.63 and $1.72, down from earlier estimates [10][11] Financial Performance - Product revenues were $169.1 million, marking a 10.5% increase from the previous year, while royalty and other revenues decreased by 2.7% to $0.04 million [5][6] - Adjusted gross margin improved to 53.7% from 49.2% year-over-year, with adjusted operating income rising to $23.4 million compared to $13.6 million in the prior year [8][9] - Total orders grew nearly 20%, with all four business franchises experiencing double-digit growth [6] Business Segments - Revenues from biopharma and consumables increased by over 20% year-over-year, driven by strong orders, although CDMO sales saw a slight decline [7] - The company reported 14% organic non-COVID revenue growth for the first quarter, indicating robust performance in its core business segments [6] Guidance and Outlook - Repligen expects adjusted gross margin for 2025 to be between 52% and 53%, reflecting a 100 basis point increase from previous expectations [11] - The updated guidance incorporates the impact of the acquisition of 908 Devices' bioprocessing analytics business, which aims to enhance Repligen's process analytical technology portfolio [11] - The company reiterated its organic revenue growth guidance for 2025 in the range of 9.5% to 13.5% [11]