Repligen's fourth-quarter profits surpass forecasts, with year-over-year revenue experiencing significant growth

Repligen Corporation Surpasses Q4 2025 Earnings Expectations

Repligen Corporation (RGEN) posted adjusted earnings of $0.49 per share for the fourth quarter of 2025, outperforming both the Zacks Consensus Estimate and the prior year's figure of $0.44 per share.

Revenue Performance

The company reported total revenue of $198 million for the quarter, reflecting an 18% increase compared to the same period last year. When excluding acquisition-related revenue and currency fluctuations, organic revenue growth stood at 14%. This result also exceeded the Zacks Consensus Estimate of $192 million.

Stock Performance

Over the past six months, Repligen’s share price has climbed 11%, while the broader medical-biomedical and genetics industry advanced by 23.3% during the same timeframe.

Detailed Breakdown of Q4 Results

Repligen’s revenue is primarily derived from product sales, with a minor contribution from royalties and other sources. Product revenue reached $197.7 million, marking an 18.1% increase year over year. Royalties and other income totaled $0.2 million, up roughly 20% from the previous year.

The company’s revenue streams are categorized into filtration, chromatography, proteins, and process analytics. Excluding COVID-19 and acquisition-related sales, Repligen achieved 14% organic growth in non-COVID business for the quarter.

Order volume remained robust, with all business segments experiencing annual growth. Consumables revenue expanded by over 20%, and biopharma sales also rose 20%, fueled by gains in both pharmaceutical and emerging biotech sectors. Contract development and manufacturing organization (CDMO) sales saw modest single-digit growth.

Within the quarter, revenues from Proteins and Process Analytics surged by more than 30%, Chromatography grew over 25%, and Filtration posted high single-digit growth compared to the previous year.

Costs, Margins, and Financial Position

Repligen’s adjusted gross margin improved to 52.4%, up 170 basis points year over year. Adjusted research and development expenses reached $12.2 million, a 7% increase, while selling, general, and administrative costs rose 27.4% to $61.8 million.

Adjusted operating income was $30 million, reflecting 20% growth, and the operating margin edged up to 15% from 14.9% a year earlier. As of December 31, 2025, the company held $768 million in cash and cash equivalents, compared to $749 million at the end of September 2025.

Full-Year 2025 Highlights

For the full year, Repligen generated $738.3 million in revenue, representing a 16% increase over the prior year. Adjusted earnings per share for 2025 were $1.71, up from $1.58 in 2024.

2026 Outlook

Looking ahead, Repligen projects total revenue for 2026 to fall between $810 million and $840 million, with the Zacks Consensus Estimate at $825.2 million. Adjusted earnings per share are expected to range from $1.93 to $2.01. The company anticipates an adjusted gross margin between 53.6% and 54.1%, and adjusted operating income in the range of $122 million to $130 million.

Repligen’s Market Standing and Peer Comparisons

Currently, Repligen holds a Zacks Rank #3 (Hold). In the biotech sector, several stocks with higher Zacks rankings include:

• Harmony Biosciences (HRMY)
• Castle Biosciences (CSTL)
• Immunocore (IMCR)

All three are rated Zacks Rank #1 (Strong Buy).

Peer Performance Highlights

• Harmony Biosciences’ 2026 EPS estimates have risen from $3.72 to $4.00 in the past 60 days, though its shares have declined 24.7% over six months. The company beat earnings estimates in two of the last four quarters, with an average surprise of 7.2%.
• Castle Biosciences’ projected 2026 loss per share narrowed from $1.06 to $0.96, and its stock surged 45.8% in six months. It exceeded earnings expectations in three of the past four quarters, with an average surprise of 66.11%.
• Immunocore’s 2026 loss per share estimate improved from $0.97 to $0.90, and shares gained 3.4% over six months. The company beat earnings estimates in three of the last four quarters, averaging a 53.96% surprise.

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Additional Resources

For the latest stock picks from Zacks Investment Research, download the report: 7 Best Stocks for the Next 30 Days.

• Repligen Corporation (RGEN): Free Stock Analysis Report
• Castle Biosciences, Inc. (CSTL): Free Stock Analysis Report
• Harmony Biosciences Holdings, Inc. (HRMY): Free Stock Analysis Report
• Immunocore Holdings PLC Sponsored ADR (IMCR): Free Stock Analysis Report

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