NASDAQ$RGEN
Repligen Corp · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Repligen's financial performance declined due to bioprocessing challenges and inventory overhang.
Repligen reported a decrease in revenue for Q2 2023, with total revenue at $159.2 million, a 23.3% decrease year-over-year. The company adjusted its full-year revenue guidance to $635-$665 million. The decline was primarily due to headwinds in Filtration. Despite these challenges, the Analytics, Proteins, and Chromatography franchises saw growth. The company remains optimistic about managing through these headwinds by the end of the year.
- Second quarter revenues were reported at $159.2 million, with base business revenues at $157.1 million, a 9% year-over-year decrease.
- Full year revenue guidance was adjusted to a range of $635-$665 million.
- Analytics, Proteins, and Chromatography franchises experienced mid-single to double-digit growth.
- Sequential revenue growth in Cell & Gene Therapy was 7% due to customer scaling and new drug approvals.
Headline financials
Revenue & EPS history
Repligen · Revenue · Quarterly
$159M
Revenue by segment
Repligen · $159M total across 2 segments · Q2 2023
- Product Revenue$159M—100.0%
- Royalty and Other$36K—0.0%
Forward guidance
Repligen provided financial guidance for the fiscal year 2023. Total reported revenue is expected to be in the range of $635-$665 million. Gross margin is expected to be 49.5%-50.5% on a GAAP basis, and 50%-51% on a non-GAAP basis. Net income per share (GAAP) is expected to be in the range of $1.00-$1.08 on a fully diluted basis, and adjusted net income per share (non-GAAP) is expected to be in the range of $1.72-$1.80 on a fully diluted basis.
Tailwinds
- Total reported revenue is expected to be in the range of $635-$665 million.
- Gross margin is expected to be 49.5%-50.5% on a GAAP basis, and 50%-51% on a non-GAAP basis.
- Income from operations is expected to be in the range of $57-$63 million on a GAAP basis.
- Adjusted income from operations is expected to be in the range of $104-$110 million.
- Net income is expected to be in the range of $57-$61 million on a GAAP basis.
Headwinds
- Revenue guidance was revised down from $720-$760 million.
- Base business revenue is expected to be down 5%-10%.
- Gross margin is expected to be lower than previous guidance of 52%-53%.
- Income from operations is expected to be lower than previous guidance of $111-$116 million.
- Adjusted operating margin is expected to be in the range of 16%-17%, compared to previous guidance of 20.5%-21.5%.
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 Q2 2023
+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
| Quarter | Report date | Reaction (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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