Repligen's Q4 Earnings Beat Estimates, Revenues Surge Y/Y

Repligen Corporation RGEN reported fourth-quarter 2025 adjusted earnings per share of 49 cents, which came ahead of the Zacks Consensus Estimate and the year-ago adjusted earnings of 44 cents per share.

Total revenues in the fourth quarter were $198 million, up 18% year over year on a reported basis. Excluding the impact of acquisition revenues and currency exchange, revenues rose 14% organically. Revenues also beat the Zacks Consensus Estimate of $192 million.

In the past six months, shares of Repligen have increased 11% compared with the industry’s rally of 23.3%.

RGEN’s Q4 Earnings in Detail

The company’s top line comprises product revenues and minimal royalty and other revenues.

Product revenues were $197.7 million, up almost 18.1% from the year-ago level. Royalty and other revenues amounted to $0.2 million, up almost 20% year over year.

Repligen records revenues from its business franchisees that can be categorized as filtration, chromatography, proteins and process analytics. Revenues from Repligen’s base business exclude COVID-related revenues and acquisition-related revenues. The company reported 14% organic non-COVID revenue growth for the fourth quarter.

Total orders remained strong like the previous three quarters, with all the franchises witnessing year-over-year growth during the fourth quarter.

Revenues from consumables grew more than 20% while biopharma revenues were up 20% on a year-over-year basis during the fourth quarter, driven by growth from both pharma and emerging biotech. CDMO sales grew in low single digits year over year during the quarter.

In the reported quarter, both Proteins and Process Analytics revenues grew more than 30%, with Chromatography reflecting more than 25% growth on a year-over-year basis. Filtration revenues grew in high single digits during the quarter.

RGEN's Costs, Margins & Cash Position

Adjusted gross margin was 52.4%, reflecting an increase of 170 basis points year over year.

Adjusted research and development expenses totaled approximately $12.2 million, up 7% from the year-ago quarter’s level. Adjusted selling, general and administrative expenses rose around 27.4% to $61.8 million.

Adjusted operating income totaled $30 million, reflecting an increase of 20% year over year.

Adjusted operating margin was 15% in the fourth quarter, slightly higher than 14.9% in the year-ago quarter.

As of Dec. 31, 2025, Repligen had cash and cash equivalents worth $768 million compared with $749 million as of Sept. 30, 2025.

RGEN's Full-Year Results

In 2025, Repligen generated revenues of $738.3 million, which reflected around 16% growth year over year.

For the same period, the company reported adjusted earnings of $1.71 per share, up from adjusted earnings of $1.58 per share in the year-ago period.

RGEN's 2026 Guidance

Repligen expects total revenues in the range of $810-$840 million in 2026. The Zacks Consensus Estimate for the metric stands at $825.2 million.

Adjusted EPS is anticipated to be between $1.93 and $2.01 for full-year 2026.

Repligen expects an adjusted gross margin between 53.6% and 54.1% for 2026.

Adjusted operating income is expected in the range of $122-$130 million.

Repligen Corporation Price, Consensus and EPS Surprise

Repligen Corporation price-consensus-eps-surprise-chart | Repligen Corporation Quote

RGEN's Zacks Rank & Stocks to Consider

Repligen currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Harmony Biosciences HRMY, Castle Biosciences CSTL and Immunocore IMCR, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 60 days, estimates for Harmony Biosciences’ 2026 earnings per share have increased from $3.72 to $4.00. HRMY shares have fallen 24.7% in the past six months.

Harmony Biosciences’ earnings beat estimates in two of the trailing four quarters and missed in the remaining two quarters, with the average earnings surprise being 7.20%.

Over the past 60 days, Castle Biosciences’ 2026 loss per share estimates have narrowed from $1.06 to 96 cents. CSTL shares have rallied 45.8% over the past six months.

Castle Biosciences’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 66.11%.

Over the past 60 days, Immunocore’s 2026 loss per share estimates have narrowed from 97 cents to 90 cents. IMCR shares have gained 3.4% over the past six months.

Immunocore earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average earnings surprise being 53.96%.

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This article originally published on Zacks Investment Research (zacks.com).

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