Repligen Q4 2023 Earnings Report
Key Takeaways
Repligen reported Q4 2023 revenue of $155.7 million, compared to $186.8 million for 2022. The company's book-to-bill ratio was 1.03 for the quarter. The company is optimistic that its markets will improve as it advances through 2024, with growth accelerating in the second half of the year.
Total revenue was $155.7 million, a decrease compared to $186.8 million in Q4 2022.
GAAP gross profit was $67.6 million, down from $96.1 million in Q4 2022.
GAAP loss from operations was ($0.9) million, compared to income from operations of $48.8 million in Q4 2022.
Net loss was ($25.5) million, compared to net income of $48.7 million for Q4 2022.
Repligen
Repligen
Forward Guidance
Repligen's financial guidance for fiscal year 2024 is based on expectations for its existing business and includes the expected impact of businesses acquired in 2023.
Positive Outlook
- Total Reported Revenue: $620M - $650M
- Gross Margin: 49% - 50%
- Income from Operations: $33M - $38M
- Operating Margin: 5% - 6%
- Net Income: $26M - $30M
Challenges Ahead
- Year-over-Year Change: (3%) - 2%
- Base Revenue Growth: (1%) - 4%
- Adjusted EBITDA Margin: 18% - 19%
- Tax Rate on Pre-Tax Income: 26%
- Earnings Per Share - Diluted: $0.46 - $0.53