Repligen Stock Earnings Reports

Repligen reported a strong start to 2026 with $194M in Q1 revenue (15% reported, 11% organic), 55.5% adjusted gross margin, and 15.4% adjusted operating margin. Growth was broad-based: Analytics led with 50%+ growth, Chromatography +25% (OPUS columns), Proteins mid-teens, CDMO mid-teens, and emerging biotechs showing 20%+ growth. Management reiterated full-year organic growth guidance of 9%–13% (updated reported revenue $803M–$833M to reflect sale of Polymem, which reduces revenue by ~$7M) and raised adjusted EPS guidance to $1.97–$2.05. They launched a transformation office to accelerate Fit for Growth and margin expansion, targeting at least one point of annualized margin improvement by end of 2027 (with $5M–$6M of one-time charges through 2027). China/Asia is a strategic priority: a new OEM partnership in China will localize manufacturing starting 2027 and management reports a near doubling of China revenues in Q1. Balance sheet remains strong with ~$785M cash and marketable securities and disciplined CapEx (3%–4% of revenue). Management sees continued upside from ATF and Analytics over the medium term, while noting some near-term timing/inventory dynamics (specific gene-therapy and ATF customer timing) that moderate certain 2026 assumptions.