Repligen Reports $639 Million in Full-Year Revenue

By Bobby Samwell • Wednesday, February 21 15:47 • Permanent Link

Repligen Corporation (NASDAQ:RGEN) has reported its financial results for the fourth quarter and full year of 2023, with continued strength in orders and a positive outlook for the future. The company's fourth quarter revenue was $156 million, contributing to full-year revenue of $639 million.

Tony J. Hunt, Chief Executive Officer of Repligen, highlighted the company's performance, stating, "During the fourth quarter, we again saw order strength, driven by our filtration and analytics franchises and continued momentum from new modality accounts, which reflects the differentiated nature of our products in this market." He also expressed optimism for market improvement in 2024, with growth accelerating in the second half of the year.

The company's financial performance for the fourth quarter and full year of 2023, as compared to the previous year, includes the following key points: - Total revenue for Q4 2023 was $155.7 million, compared to $186.8 million for 2022. Full-year 2023 total revenue was $638.8 million, compared to $801.5 million for 2022. - Gross profit for Q4 2023 was $67.6 million, with adjusted gross profit (non-GAAP) at $76.5 million. Full-year gross profit (GAAP) for 2023 was $284.8 million, compared to $455.7 million for 2022. - Income from operations for Q4 2023 was a loss of ($0.9) million (GAAP), with adjusted income from operations (non-GAAP) at $18.8 million. Full-year income from operations (GAAP) for 2023 was $54.6 million, compared to $224.7 million for 2022. - Net loss for Q4 2023 was ($25.5) million (GAAP), with adjusted net income (non-GAAP) at $18.8 million. Full-year net income (GAAP) for 2023 was $41.6 million, compared to $186.0 million for 2022.

Repligen also provided financial guidance for the full year 2024, expecting total reported revenue in the range of $620 million to $650 million, with a year-over-year change of (3%) to 2%. The company's adjusted guidance includes the expected impact of businesses acquired in 2023 and excludes the impact of any potential business acquisitions in 2024.

The company's full 8-K submission is available here.

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