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Dec 31, 2020
Repligen Q4 2020 Earnings Report
Repligen's Q4 2020 earnings were reported, showing strong year-over-year revenue and earnings growth.
Key Takeaways
Repligen reported a strong fourth quarter in 2020, with revenue increasing by 56% year-over-year to $108.6 million and organic growth of 47%. GAAP EPS was $0.36, and adjusted EPS was $0.52. The company's performance was driven by sales into COVID vaccine and therapeutic accounts, as well as robust growth across all franchises.
Revenue increased by 56% year-over-year to $108.6 million.
GAAP operating margin was 16.0%, an increase of 750 bps.
Adjusted operating margin was 25.1%, an increase of 680 bps.
GAAP fully diluted EPS was $0.36, while adjusted EPS increased to $0.52.
Repligen
Repligen
Forward Guidance
Repligen provided financial guidance for the fiscal year 2021, expecting revenue in the range of $500-$525 million and adjusted EPS in the range of $1.86-$1.94.
Positive Outlook
- Total revenue is expected to be in the range of $500-$525 million, reflecting overall revenue growth of 37%-43%.
- Organic growth of 26%-33% is expected.
- Revenue contribution from COVID-related programs are expected to be in the range of $90-$100 million.
- Gross margin is expected to be 57%-58% on both a GAAP and non-GAAP basis.
- Adjusted net income is expected to be in the range of $106-$111 million.
Challenges Ahead
- Guidance excludes the impact of potential additional acquisitions.
- Guidance excludes future fluctuations in foreign currency exchange rates.
- Non-GAAP guidance excludes acquisition and integration expenses.
- Non-GAAP guidance excludes intangible amortization expense.
- Non-GAAP guidance excludes non-cash interest expense related to convertible debt notes.