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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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