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Jun 30, 2021
Repligen Q2 2021 Earnings Report
Repligen delivered an outstanding second quarter with significant revenue growth and margin expansion.
Key Takeaways
Repligen reported a strong second quarter of 2021, with revenue reaching $163.0 million, an 86% increase year-over-year. The company's base business grew 35% year-over-year, and COVID-related sales accounted for 27% of revenue. Gross and operating margins also increased, and the company updated its full-year financial guidance to reflect continued momentum.
Revenue increased by 86% year-over-year to $163.0 million, with organic growth of 69%.
GAAP gross margin and adjusted gross margin each increased to 62.0%.
GAAP operating margin was 29.6%, an increase of 730 bps.
Adjusted fully diluted EPS increased to $0.79 compared to $0.42 for the second quarter of 2020.
Repligen
Repligen
Forward Guidance
Repligen updated its 2021 financial guidance to reflect revenue growth in the range of 71%-76% and healthy margin expansion.
Positive Outlook
- Total revenue is expected to be in the range of $625-$645 million.
- Overall revenue growth of 71%-76% and 68%-73% at constant currency is expected.
- Organic growth is expected to be in the range of 57%-62%.
- Revenue from COVID-related programs is expected to be in the range of $170-$180 million.
- Fully diluted GAAP EPS is expected to be in the range of $2.08-$2.15.