RGEN 8-K: Repligen Q1 revenue $182.7M, down 12% YoY; cuts full-year guidance on macro headwinds

Repligen Q1 revenue $182.7M, down 12% YoY; cuts full-year guidance on macro headwinds

REPLIGEN CORP

2023-Q1 EPS reported $0.51 revenue$182,660,000

GAAP EPS $0.51 (down 37% YoY); adjusted EPS $0.64 (down 30% YoY); gross margin 55.2% (down 520 bps).

Total revenue guidance cut to $720-760M (prev $760-800M); base business growth lowered to 4-8% (prev 11-15%).

Completed acquisition of single-use bag maker FlexBiosys in April; adds to Fluid Management portfolio.

Sees softness in AsiaPac (especially China) and slower order recovery; COVID-related revenue expected $30-40M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

REPLIGEN CORP reported first quarter ended March 31, 2023 results: revenue $182.7 million, net income $28.8 million, EPS $0.51. Guidance lowered.

Period: first quarter ended March 31, 2023
Revenue: $182.7 million
Net income: $28.8 million
EPS: $0.51
Guidance: lowered
Result: reported results

Exact text from the filing

REVENUE • Total revenue for the first quarter of 2023 was $182.7 million compared to $206.4 million for the first quarter of 2022, a year-over-year decrease of 12% as reported, and down 9% at constant currency. GROSS PROFIT and GROSS MARGIN • Gross profit (GAAP) for the first quarter of 2023 was $100.8 million compared to $124.0 million for the first quarter of 2022. Adjusted gross profit (non-GAAP) for the first quarter of 2023 was $100.8 million, a decrease of 19% compared to $124.6 million for the first quarter of 2022. • Gross margin (GAAP) for the first quarter of 2023 was 55.2%, compared to 60.1% for the first quarter of 2022. Adjusted gross margin (non-GAAP) for the first quarter was 55.2%, compared to 60.4% in the 2022 period, a year-over-year decrease of approximately 520 basis points. INCOME FROM OPERATIONS • Income from operations (GAAP) for the first quarter of 2023 was $31.3 million, compared to $60.0 million for the first quarter of 2022. Our GAAP income from operations f

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