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Repligen beats Q1 EPS and revenue estimates, with shares rising more than 6% after results.
Chromatography, up 25%, and Process Analytics, up more than 50%, drive strong franchise growth in Q1.
2026 revenue view trimmed, but EPS outlook raised to $1.97-$2.05 with margin expansion.
Repligen Corporation (RGEN - Free Report) reported first-quarter 2026 adjusted earnings per share of 48 cents, which beat the Zacks Consensus Estimate of 38 cents. In the year-ago quarter, the company reported adjusted earnings of 39 cents per share.
Total revenues in the first quarter were $194.3 million, up 14.8% year over year on a reported basis. Excluding the impact of acquisition and currency exchange, revenues rose 11% organically. Revenues also beat the Zacks Consensus Estimate of $191 million.
Shares of Repligen were up 6.3% yesterday owing to the better-than-expected results.
However, the stock has lost 23.3% year to date, compared with the industry’s 2.4% decline.
Image Source: Zacks Investment Research
RGEN’s Q1 Earnings in Detail
The company’s top line comprises product revenues and negligible royalties and other revenues.
Product revenues were $194.2 million, up almost 14.8% from the year-ago level. Royalty and other revenues amounted to $0.04 million, up almost 26% year over year.
Repligen records revenues from its business franchisees that can be categorized as filtration, chromatography, proteins and process analytics.
Total orders remained strong, like some previous quarters, with all the franchises witnessing year-over-year growth during the first quarter. Filtration revenues grew mid-single digits on a reported basis in the quarter, driven by fluid management, ATF and other consumables.
Chromatography revenues increased over 25% year over year during the quarter, driven by growth in OPUS columns.
Consumables, including proteins, grew in double digits. Biopharma revenues also grew year over year during the first quarter, driven by growth from emerging biotech. CDMO revenues grew mid-teens year over year during the quarter.
In the reported quarter, Process Analytics revenues grew more than 50% year over year, led by strength in the downstream analytics offering and overall strong demand.
RGEN's Costs, Margins & Cash Position
Adjusted gross margin was 55.5%, reflecting an increase of 180 basis points year over year.
Adjusted operating income totaled $30 million, reflecting an increase of 30.4% year over year.
Adjusted operating margin was 15.4% in the first quarter, higher than 13.8% in the year-ago quarter.
As of March 31, 2026, Repligen had cash and cash equivalents worth $785 million compared with $768 million as of Dec. 31, 2025.
RGEN's 2026 Guidance
Repligen lowered its full-year 2026 revenue guidance while increasing its EPS outlook.
The company now expects total revenues in the range of $803-$833 million in 2026, compared with the previous expectation of $810-$840 million.
Importantly, the company expects reported as well as organic revenue growth of 9%-13% in 2026, unchanged from the previous expectation.
Adjusted EPS is now anticipated to be between $1.97 and $2.05 for full-year 2026, up from the previous expectation of $1.93 and $2.01.
Adjusted gross margin is expected to be between 53.7% and 54.2% for 2026 versus the prior expectation of 53.6%-54.1%.
Adjusted operating income is expected in the range of $124-$132 million, up from the earlier expectation of $122-$130 million.
Repligen Corporation Price, Consensus and EPS Surprise
Over the past 60 days, estimates for Agenus’ 2026 earnings per share have risen from 54 cents to $1.30, while loss per share estimates for 2027 have narrowed from $1.91 to $1.52 during the same time. AGEN shares have soared 32.8% year to date.
Agenus’ earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, with the average surprise being 31.42%.
Over the past 60 days, 2026 loss per share estimates for Castle Biosciences have narrowed from $1.42 to $1.40, while the same for 2027 have narrowed from 79 cents to 78 cents during the same time. CSTL stock has decreased 36.7% year to date.
Castle Biosciences’ earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 34.69%.
Over the past 60 days, 2026 loss per share estimates for Amarin have narrowed from $7.01 to $6.36, while the same for 2027 have narrowed from $5.50 to $4.64. AMRN stock has increased 3.9% year to date.
Amarin's earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 50.02%.
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Repligen's Q1 Earnings & Revenues Beat Estimates, Stock Rises
Key Takeaways
Repligen Corporation (RGEN - Free Report) reported first-quarter 2026 adjusted earnings per share of 48 cents, which beat the Zacks Consensus Estimate of 38 cents. In the year-ago quarter, the company reported adjusted earnings of 39 cents per share.
Total revenues in the first quarter were $194.3 million, up 14.8% year over year on a reported basis. Excluding the impact of acquisition and currency exchange, revenues rose 11% organically. Revenues also beat the Zacks Consensus Estimate of $191 million.
Shares of Repligen were up 6.3% yesterday owing to the better-than-expected results.
However, the stock has lost 23.3% year to date, compared with the industry’s 2.4% decline.
Image Source: Zacks Investment Research
RGEN’s Q1 Earnings in Detail
The company’s top line comprises product revenues and negligible royalties and other revenues.
Product revenues were $194.2 million, up almost 14.8% from the year-ago level. Royalty and other revenues amounted to $0.04 million, up almost 26% year over year.
Repligen records revenues from its business franchisees that can be categorized as filtration, chromatography, proteins and process analytics.
Total orders remained strong, like some previous quarters, with all the franchises witnessing year-over-year growth during the first quarter. Filtration revenues grew mid-single digits on a reported basis in the quarter, driven by fluid management, ATF and other consumables.
Chromatography revenues increased over 25% year over year during the quarter, driven by growth in OPUS columns.
Consumables, including proteins, grew in double digits. Biopharma revenues also grew year over year during the first quarter, driven by growth from emerging biotech. CDMO revenues grew mid-teens year over year during the quarter.
In the reported quarter, Process Analytics revenues grew more than 50% year over year, led by strength in the downstream analytics offering and overall strong demand.
RGEN's Costs, Margins & Cash Position
Adjusted gross margin was 55.5%, reflecting an increase of 180 basis points year over year.
Adjusted operating income totaled $30 million, reflecting an increase of 30.4% year over year.
Adjusted operating margin was 15.4% in the first quarter, higher than 13.8% in the year-ago quarter.
As of March 31, 2026, Repligen had cash and cash equivalents worth $785 million compared with $768 million as of Dec. 31, 2025.
RGEN's 2026 Guidance
Repligen lowered its full-year 2026 revenue guidance while increasing its EPS outlook.
The company now expects total revenues in the range of $803-$833 million in 2026, compared with the previous expectation of $810-$840 million.
Importantly, the company expects reported as well as organic revenue growth of 9%-13% in 2026, unchanged from the previous expectation.
Adjusted EPS is now anticipated to be between $1.97 and $2.05 for full-year 2026, up from the previous expectation of $1.93 and $2.01.
Adjusted gross margin is expected to be between 53.7% and 54.2% for 2026 versus the prior expectation of 53.6%-54.1%.
Adjusted operating income is expected in the range of $124-$132 million, up from the earlier expectation 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 #4 (Sell).
Some better-ranked stocks in the biotech sector are Agenus (AGEN - Free Report) , Castle Biosciences (CSTL - Free Report) and Amarin (AMRN - Free Report) , each currently 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 Agenus’ 2026 earnings per share have risen from 54 cents to $1.30, while loss per share estimates for 2027 have narrowed from $1.91 to $1.52 during the same time. AGEN shares have soared 32.8% year to date.
Agenus’ earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, with the average surprise being 31.42%.
Over the past 60 days, 2026 loss per share estimates for Castle Biosciences have narrowed from $1.42 to $1.40, while the same for 2027 have narrowed from 79 cents to 78 cents during the same time. CSTL stock has decreased 36.7% year to date.
Castle Biosciences’ earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 34.69%.
Over the past 60 days, 2026 loss per share estimates for Amarin have narrowed from $7.01 to $6.36, while the same for 2027 have narrowed from $5.50 to $4.64. AMRN stock has increased 3.9% year to date.
Amarin's earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 50.02%.