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Jun 30, 2024
Repligen Q2 2024 Earnings Report
Repligen reported solid second quarter results, achieving year-to-date sales target and demonstrating strength in Pharma demand and CDMO activity.
Key Takeaways
Repligen reported Q2 2024 revenue of $154 million, slightly below the $159 million reported in Q2 2023. The company achieved its year-to-date sales target with first-half revenue of $305 million. The company is narrowing its revenue guidance for fiscal year 2024 but adjusted EPS guidance remains unchanged.
Second quarter revenue was reported at $154 million.
Second quarter orders reached $157 million.
Book-to-bill ratio was 1.02 for the quarter and 1.01 year-to-date.
The company is narrowing revenue guidance within the previous range for fiscal year 2024, while adjusted EPS guidance remains unchanged.
Repligen
Repligen
Repligen Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comRoyalty and Other Revenue
CapyFin.com Forward Guidance
Repligen provided financial guidance for the full year 2024, based on expectations for the existing business, including the impact of businesses acquired in 2023. The guidance excludes the impact of any potential or pending business acquisitions in 2024, and future fluctuations in foreign currency exchange rates.
Positive Outlook
- Total Reported Revenue: $620M - $635M
- Gross Margin: 49% - 50%
- Income from Operations: $12M - $17M
- Operating Margin: 2% - 3%
- Adjusted EBITDA Margin: 17% - 18%
Challenges Ahead
- Year-over-Year Change: (3%) - (1%)
- Base Revenue Growth: -(1%) - 1%
- Tax Rate on Pre-Tax Income: 35%
- Net Income: $9.5M - $13.5M
- Earnings Per Share - Diluted: $0.17 - $0.24
Revenue & Expenses
Visualization of income flow from segment revenue to net income