Repligen ( (RGEN) ) has released its Q3 earnings. Here is a breakdown of the information Repligen presented to its investors.
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Repligen Corporation is a prominent player in the life sciences sector, specializing in bioprocessing technologies that support the manufacturing of biological drugs. The company serves primarily biopharmaceutical developers and contract development and manufacturing organizations globally.
Repligen reported its third quarter 2024 financial results with a notable 10% increase in revenue year-over-year, totaling $155 million. The company has experienced growth in its Contract Development and Manufacturing Organization (CDMO) revenue and orders, each up by approximately 20% compared to the previous year.
In its latest earnings report, Repligen highlighted several key financial metrics, including a significant increase in adjusted net income to $24 million from $13 million the previous year. The GAAP gross profit also saw a substantial rise from $37 million to $77 million. Furthermore, Repligen opened its new Repligen Training and Innovation Center (RTIC) and announced an agreement to acquire Tantti Laboratory Inc., enhancing their Chromatography and Proteins franchises.
The company has narrowed its full year revenue guidance to between $630 million and $639 million, maintaining a positive outlook as it moves into 2025. With continued strength in filtration, consumables, and equipment sales, Repligen remains optimistic about its future growth opportunities.
