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Jun 30, 2022
Repligen Q2 2022 Earnings Report
Repligen's performance was strong in Q2 2022, with record revenue and raised full-year guidance.
Key Takeaways
Repligen reported a record revenue of $207.6 million for Q2 2022, representing a 27% year-over-year increase as reported and 32% at constant currency. The company's strong organic revenue growth of 29% and base business growth of 41% drove the results. Repligen raised its full-year revenue guidance to $790-$810 million.
Revenue increased by $44.7 million, or 27% year-over-year, to $207.6 million.
GAAP gross margin was 58.5%, and adjusted gross margin was 58.7%.
GAAP operating margin was 30.4%, with adjusted operating margin at 31.6%.
GAAP EPS increased to $0.88, and adjusted EPS increased to $0.91.
Forward Guidance
Repligen raised its full year 2022 revenue guidance to a range of $790 million to $810 million. Base business revenue is expected to grow by 31%-33%.
Positive Outlook
- Total revenue is expected to be in the range of $790-$810 million.
- Overall revenue growth of 18-21% as reported.
- Revenue growth of 22%-25% at constant currency.
- Organic growth of 19%-22%.
- Adjusted (non-GAAP) fully diluted EPS is expected to be in the range of $3.13-$3.20.
Challenges Ahead
- Slower projected COVID-related revenue.
- Excludes the impact of potential additional acquisitions.
- Excludes future fluctuations in foreign currency exchange rates.
- Acquisition and integration expenses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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