Repligen
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Repligen (RGEN) investor relations material

Repligen Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary24 Feb, 2026

Executive summary

  • Q4 2025 revenue reached $198M, up 18% year-over-year as reported and 14% organic, with strong order momentum in Analytics and Proteins.

  • Full year 2025 revenue was $738M, a 16% increase year-over-year, exceeding guidance and driven by portfolio traction and margin expansion.

  • Delivered 16% reported and organic non-COVID revenue growth for 2025, with strong performance across proteins, analytics, and chromatography.

  • Outpaced market growth, driven by portfolio diversity, robust execution, and innovation.

  • Expanded APAC presence with a new Singapore office and a larger footprint in Japan.

Financial highlights

  • Q4 revenue up 18% year-over-year (14% organic); full-year revenue up 16% reported and organic.

  • Q4 adjusted gross profit $104M, gross margin 52.4% (+170 bps YoY); full-year gross margin 52.6% (+220 bps YoY).

  • Q4 adjusted operating income $30M (+19% YoY); full-year $102M (+24% YoY).

  • Adjusted net income for the year $28M; adjusted EPS $1.71 (+9% YoY).

  • Cash and marketable securities at year-end $768M, up $90M sequentially.

Outlook and guidance

  • FY 2026 revenue guidance: $810M–$840M, representing 10%–14% reported and 9%–13% organic growth.

  • Adjusted gross margin expected to expand to 53.6%–54.1%, up ~125 bps YoY at midpoint.

  • Adjusted operating income guidance: $122M–$130M, with 150 bps margin expansion at midpoint.

  • Adjusted EPS guidance: $1.93–$2.01, up 15% at midpoint.

  • Guidance reflects a two-point headwind from gene therapy and minor benefit from FX and M&A.

Offsetting 2026 gene therapy headwind
Drivers of 2026 operating margin expansion
New product contribution to 2026 growth
M&A strategy: balancing accretion vs. strategic fit?
Analytics growth drivers beyond SoloVPE PLUS?
FDA policy/MFN: impact on 2026 guidance range?
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Frequently asked questions

Repligen Corporation develops and commercializes bioprocessing technologies and systems for use in biological drug manufacturing process. The company's bioprocessing platforms includes technologies and systems used to develop, manufacture, store, test and distribute biotherapeutic products. It offers a portfolio that is engineered to meet the strict needs of biopharmaceutical manufacturers, and scalable to service the varied needs of manufacturing across the industry. The company sells its products through direct sales force and through applications engineering groups located in North America and Europe. Repligen Corporation is based in Waltham, Massachusetts.

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