Key Highlights

  • Adjusted diluted EPS was $0.53 against $0.46 a year earlier, versus the $0.46 estimate as screened (14.49% above).
  • Revenue was $209.3 million, up 11% reported and 12.5% organic, against a $206.7 million analyst estimate.
  • Adjusted EBITDA reached $43.8 million, a 20.9% margin versus 19.0% a year earlier.
  • A $41.2 million intangible asset impairment produced a GAAP loss of $0.68 per share.
  • Full-year 2026 revenue guidance is $844 million to $852 million, with adjusted EPS of $2.05 to $2.09.

Repligen Earnings: Does the Beat Survive a GAAP Loss?

Repligen (NASDAQ:RGEN) reported third-quarter results on Tuesday, October 27, with adjusted diluted EPS of $0.53, up from $0.46 and above the $0.46 estimate as screened. Revenue of $209.3 million rose from $188.8 million, ahead of the $206.7 million analyst estimate. Management raised full-year guidance again.

On a GAAP basis the quarter was a loss of $0.68 per share, against earnings of $0.26 a year earlier. The swing was driven by a $41.2 million intangible asset impairment, which pushed the GAAP loss from operations to $29.5 million from income of $16.8 million. GAAP net loss was $38.4 million.

Repligen Growth and Margins: How Strong Was the Underlying Business?

Reported revenue growth was 11%, with organic growth of 12.5% in the release highlights (12% in the reconciliation table). The acquisition and divestiture impact added 1 point and currency added 1 point. Repligen supplies filtration, chromatography and analytics products used to make biologic drugs.

Adjusted operating income rose to $33.3 million from $26.8 million, lifting the adjusted operating margin to 15.9% from 14.2%. Adjusted EBITDA was $43.8 million, a 20.9% margin against 19.0%, and adjusted net income was $29.9 million versus $25.9 million.

Gross margin was little changed: 53.0% GAAP versus 53.2%, and 53.0% adjusted versus 53.3%.

Repligen Guidance: What Changed With the BioLife Closing?

The updated 2026 outlook calls for total revenue of $844 million to $852 million, reported growth of 14.5% to 15.5% and organic growth of 12% to 13%. Gross margin is expected at 53.7% to 54.2% and income from operations at $135 million to $139 million, a 16.0% to 16.3% operating margin.

Adjusted net income is guided to $119 million to $122 million, or $2.05 to $2.09 per diluted share, with an adjusted EBITDA margin near 21% and a tax rate near 22%. The range includes BioLife from its October 6 closing date, assumes neutral currency, and carries roughly 2.5 points of inorganic benefit net of the Polymem divestiture. The release gives no separate fourth-quarter range.

Management said end-market demand continues to improve, with healthy consumables and services trends and a growing capital equipment order book. It tied the guidance raise to year-to-date performance, order momentum and the BioLife addition, and said integration is progressing with a sizable portion of expected operating expense synergies already in motion.

Repligen Balance Sheet: Where Does Cash Stand After the Deal?

Cash, cash equivalents and marketable securities were $863 million at September 30, up from $768 million at year-end. Nine-month revenue was $607.7 million against $540.3 million, adjusted EPS was $1.55 versus $1.23, and adjusted EBITDA was $127.6 million, a 21.0% margin versus 18.7%.

Nine-month GAAP EPS was a loss of $0.44 against earnings of $0.63, reflecting the impairment. The release does not describe buybacks or a dividend.

Repligen Outlook: What Should Investors Watch Next?

The next checkpoints are the fourth-quarter results, where BioLife contributes a first partial quarter, the pace of the synergies management described, and whether the 53.0% gross margin moves toward the 53.7% to 54.2% full-year range.