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Dec 31, 2019
Repligen Q4 2019 Earnings Report
Reported a revenue increase and EPS growth in Q4 2019.
Key Takeaways
Repligen Corporation reported a strong fourth quarter in 2019, with a 34% increase in revenue to $69.5 million and adjusted EPS increasing to $0.20. The company's organic revenue growth was 21% for the quarter. The company is optimistic about 2020.
Revenue increased by 34% year-over-year to $69.5 million.
Organic revenue growth was 21%.
GAAP fully diluted EPS was $0.07 compared to $0.12 for the fourth quarter of 2018.
Adjusted (non-GAAP) fully diluted EPS increased to $0.20 compared to $0.19 for the fourth quarter of 2018.
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 fiscal year 2020, projecting total revenue in the range of $309-$319 million and adjusted EPS in the range of $1.07-$1.12.
Positive Outlook
- Total revenue is projected to be in the range of $309-$319 million, reflecting overall revenue growth of 14%-18% as reported and at constant currency and organic growth of 10%-14%.
- Gross margin is expected to be 55%-56% on both a GAAP and non-GAAP basis.
- Income from operations is expected to be in the range of $50-$54 million on a GAAP basis.
- Adjusted (non-GAAP) income from operations is expected to be in the range of $70-$74 million.
- Fully diluted GAAP EPS is expected to be in the range of $0.63-$0.68.
Challenges Ahead
- $4.8 million estimated acquisition and integration expenses; $0.5 million in cost of product revenue, $0.5 million in R&D and $3.8 million in SG&A.
- $15.5 million estimated intangible amortization expense; $0.3 million in cost of product revenue and $15.1 million in G&A.
- $11.0 million of non-cash interest expense (Other income (expense)) related to our convertible debt notes.
- Our non-GAAP guidance for the fiscal year 2020 includes:
- An income tax increase of $7.6 million, representing the tax impact of acquisition and integration costs, intangible amortization and non-cash interest.
Revenue & Expenses
Visualization of income flow from segment revenue to net income