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Mar 31, 2021
Repligen Q1 2021 Earnings Report
Repligen's first quarter was marked by substantial revenue growth, driven by COVID-related demand, base business strength, and acquisitions.
Key Takeaways
Repligen Corporation reported strong first-quarter results with an 88% increase in revenue to $142.8 million, driven by COVID-related demand, base business growth, and contributions from acquisitions. The company updated its full-year financial guidance to reflect expectations for operating margin expansion and organic revenue growth.
Revenue increased by 88% year-over-year, reaching $142.8 million, with organic growth of 69%.
COVID-related programs contributed 46 points, accounting for 53% of revenue growth.
The base business, excluding COVID-related contributions, grew by 31%.
GAAP operating margin was 25.5%, an increase of 980 bps, while adjusted operating margin was 32.0%, an increase of 790 bps.
Repligen
Repligen
Repligen Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comRoyalty and Other Revenue
CapyFin.com Forward Guidance
Repligen updated its financial guidance for the fiscal year 2021, expecting total revenue to be in the range of $565-$590 million, reflecting overall revenue growth of 54%-61%. Organic growth is projected to be between 42%-49%.
Positive Outlook
- Total revenue is expected to be in the range of $565-$590 million, an increase from our previous guidance of $500-$525 million.
- We expect overall revenue growth of 54%-61% and 52%-59% at constant currency.
- Organic growth is expected to be in the range of 42%-49%, an increase from our previous guidance of 26%-33%.
- Revenue from COVID-related programs is expected to be in the range of $140-$160 million, an increase from our previous guidance of $90-$100 million.
- Fully diluted GAAP EPS is expected to be in the range of $1.67-$1.74, an increase from our previous guidance of $1.30-$1.38.
Revenue & Expenses
Visualization of income flow from segment revenue to net income