NASDAQ$RGEN

Repligen Corp · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Reported record quarterly revenue and organic growth, driven by gene therapy accounts and strength in chromatography and filtration franchises.

Repligen Corporation reported a 25% year-over-year increase in revenue, reaching $76.1 million in Q1 2020. The company's GAAP earnings per share increased to $0.18, and adjusted EPS grew to $0.32. The company is maintaining its full year revenue guidance.

  • Revenue increased by 25% year-over-year to $76.1 million, with 16% organic growth.
  • GAAP gross margin increased to 58.0%, a year-over-year increase of 220 bps.
  • Adjusted gross margin increased to 58.5%, a year-over-year increase of 250 bps.
  • GAAP fully diluted EPS increased to $0.18 compared to $0.17 for the first quarter of 2019.

Headline financials

Total Revenue

$76.1M

Previous: $60.6M+25.5%
EPS (adj)

$0.32

Previous: $0.28+14.3%
Gross Margin

58.0%

No prior period
Capital Expenditures

-$4.13M

Previous: -$2.09M-97.6%
Free Cash Flow

$5.69M

Previous: $5.97M-4.6%
Net Income

$9.82M

Previous: $8.05M+21.9%
Operating Income

$11.9M

Previous: $11.2M+6.6%
Gross Profit

$44.1M

Previous: $33.8M+30.5%
Cash & Equivalents

$530M

Previous: $196M+170.0%
Total Assets

$1.41B

Previous: $798M+76.3%
Stock-Based Comp

$4.17M

Previous: $3.25M+28.1%

Revenue & EPS history

Repligen · Revenue · Quarterly

$76.1M

Q1 2020+25.5%vs Q1 2019
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Revenue by segment

Repligen · $76.1M total across 2 segments · Q1 2020

  • Product Revenue
    $76.1M
  • Royalty and Other
    $30K

Forward guidance

Repligen is maintaining its previous guidance for revenue in the range of $309-$319 million, reflecting overall revenue growth of 14%-18% and organic growth of 10%-14%.

Tailwinds

  • Revenue in the range of $309-$319 million, reflecting overall revenue growth of 14%-18% and organic growth of 10%-14%.
  • Gross margin is expected to be 56%-57% on both a GAAP and non-GAAP basis, an increase from our previous guidance of 55%-56%.
  • Income from operations is expected to be in the range of $52-$56 million on a GAAP basis, an increase from our previous guidance of $50-$54 million.
  • Adjusted (non-GAAP) income from operations is expected to be in the range of $72-$76 million, an increase from our previous guidance of $70-$74 million.
  • Net income is expected to be in the range of $34.5-$37.5 million on a GAAP basis, an increase from our previous guidance of $33.5-$36.5 million.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

+2.6%

Avg return

Earnings day

+3.4%

Avg return

5 days after

+4.4%

Avg return

30 days after

59%

36 / 61 earnings

Positive

+22.1%

Q3 2018

Best reaction

-23.0%

Q3 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.1%-7.8%-2.7%
Q4 2025+1.4%-4.9%-15.5%
Q3 2025-5.9%-7.5%+6.3%
Q1 2025-2.9%-1.5%-14.8%
Q4 2024+7.9%+7.1%-7.1%
Q3 2024+7.9%-10.6%+11.8%
Q2 2024+21.3%+17.2%+9.2%
Q1 2024+1.3%+2.3%-9.2%
Q4 2023-3.2%-4.0%-0.9%
Q3 2023+15.1%+31.7%+37.7%
Q2 2023+1.1%+2.5%+5.2%
Q1 2023+6.4%+4.3%+8.8%
Q4 2022+3.2%-2.7%-10.0%
Q3 2022-6.0%-4.5%+3.1%
Q2 2022+13.1%+15.9%+0.6%
Q1 2022+7.8%+11.4%+19.3%
Q4 2021-1.8%-1.4%+4.0%
Q3 2021+7.2%+11.7%+5.5%
Q2 2021+14.2%+19.3%+32.4%
Q1 2021-6.4%-9.8%-15.6%
Q4 2020+0.3%+7.4%-11.1%
Q3 2020+8.1%+0.0%+0.8%
Q2 2020+8.7%+12.8%+8.2%
Q1 2020+6.7%+11.9%+5.0%
Q4 2019-10.1%-22.2%-18.7%
Q3 2019+9.9%+6.1%+15.1%
Q2 2019-4.0%-3.2%-1.7%
Q1 2019+2.5%-0.2%+11.5%
Q4 2018-0.2%+1.0%-0.2%
Q3 2018+22.1%+25.2%+19.3%
Q2 2018-1.0%+2.0%+14.2%
Q1 2018+5.1%+10.2%+14.9%
Q4 2017+9.2%+9.5%+6.2%
Q3 2017-7.1%-13.0%-4.9%
Q2 2017+1.3%+4.4%+6.1%
Q1 2017+5.2%+6.3%+11.7%
Q4 2016+6.3%+6.4%+13.6%
Q3 2016-4.1%-1.1%+10.0%
Q2 2016-0.6%-1.1%+3.9%
Q1 2016+2.1%
Q4 2015+2.4%
Q3 2015-23.0%
Q2 2015-0.2%
Q1 2015+16.9%
Q4 2014+14.9%
Q3 2014-6.6%
Q2 2014-3.6%
Q1 2014+5.0%
Q4 2013-8.8%
Q3 2013+8.8%
Q2 2013-0.1%
Q1 2013+2.9%
Q3 2010-5.0%
Q4 2012+5.8%
Q3 2012+10.2%
Q2 2012-0.4%
Q4 2010-1.5%
Q1 2012+0.9%
Q2 2011-0.1%
Q1 2011-0.9%
Q4 2011-0.9%

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