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Mar 31, 2024
Repligen Q1 2024 Earnings Report
Repligen's first quarter results were reported, showing a revenue of $151 million.
Key Takeaways
Repligen reported a solid first quarter with a revenue of $151 million. The company saw growth in the Filtration franchise excluding COVID and continued strength from new modality customers. The company is maintaining its adjusted 2024 financial guidance, expecting orders to pick up during the second half of the year.
First quarter revenue was reported as $151 million.
New modalities revenue increased by 16% year-over-year.
Filtration (non-COVID) revenue increased by 12% year-over-year.
A nine-month book-to-bill ratio of 1.03 was achieved.
Repligen
Repligen
Repligen Revenue by Segment
Forward Guidance
Repligen reiterated its financial guidance for the full year 2024. The company expects total reported revenue between $620M - $650M.
Positive Outlook
- Revenue is expected to be between $620M and $650M.
- Gross margin is expected to be between 49% and 50%.
- Income from operations is projected to be between $38.5M and $43.5M.
- Operating margin is expected to be between 6% and 7%.
- Net income is forecasted to be between $28.5M and $32.5M.
Challenges Ahead
- Year-over-year change in total reported revenue is expected to be between -3% and 2%.
- Base revenue growth is expected to be between -1% and 4%.
- Other income (expense) is expected to be between ($1M) and $0.
- Tax rate on pre-tax income is expected to be 23%.
- Earnings per share - diluted is expected to be between $0.51 and $0.58.
Revenue & Expenses
Visualization of income flow from segment revenue to net income