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Sep 30, 2022
Repligen Q3 2022 Earnings Report
Repligen's third quarter performance in 2022 demonstrated year-over-year growth, driven by strength in the base business and strategic deals.
Key Takeaways
Repligen reported revenue of $200.7 million for Q3 2022, a 13% increase year-over-year, with base business growth of 29%. The company updated its full-year 2022 financial guidance, reflecting confidence in continued growth.
Reported revenue for Q3 2022 was $200.7 million, representing a 13% year-over-year increase as reported and 19% at constant currency.
Base business growth for the quarter was 29% year-over-year and is expected to be in the range of 33%-34% for the full year.
The company signed a 15-year agreement with DRS Daylight Solutions and extended its affinity ligand relationship with Purolite until 2032.
Full-year outlook anticipates overall revenue growth of 19%-20% as reported and 24%-25% at constant currency.
Forward Guidance
Repligen provided financial guidance for the full year 2022, expecting total reported revenue between $795 and $805 million, representing a growth of 19%-20% as reported.
Positive Outlook
- Overall revenue growth of 19%-20% as reported.
- Growth at constant currency to 24%-25%.
- Organic growth guidance to 21%-22%.
- Base business revenue is expected to grow by 33%-34%.
- Adjusted (non-GAAP) fully diluted EPS is expected to be in the range of $3.15-$3.20.
Challenges Ahead
- Income from operations is expected to be in the range of $203-$207 million on a GAAP basis.
- Adjusted (non-GAAP) income from operations is expected to be in the range of $231-$235 million.
- Net income is expected to be in the range of $158-$161 million on a GAAP basis.
- Adjusted (non-GAAP) net income is expected to be in the range of $181-$184 million.
Historical Earnings Impact
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