RGEN - Repligen Non-GAAP EPS of $0.64 beats by $0.05 revenue of $182.66M beats by $1.23M

2023-05-02 07:36:22 ET

• Repligen press release ( NASDAQ: RGEN ): Q1 Non-GAAP EPS of $0.64 beats by $0.05 .
• Revenue of $182.66M (-11.5% Y/Y) beats by $1.23M .

• YEAR 2023 GUIDANCE:

  • Total reported revenue is expected to be in the range of $720-$760 million vs. $779.97M consensus, a 5% downward adjustment to our previous guidance of $760-$800 million. We continue to expect COVID-related revenue to be in the range of $30-$40 million. For our base business, we are expecting growth of 4%-8% as reported and at constant currency, compared with our previous guidance of 11%-15% as reported and 12%-16% at constant currency.
  • Gross margin is expected to be 52%-53% on both a GAAP and non-GAAP basis, an adjustment from our previous guidance of 52.5%-53.5%.
  • Income from operations is expected to be in the range of $111-$116 million on a GAAP basis, compared to our previous guidance of $135-$141 million. Adjusted (non-GAAP) income from operations is expected to be in the range of $153-$158 million, compared with our previous guidance of $176-$182 million. Adjusted operating margin is expected to be in the range of 20.5%-21.5%, compared to our previous guidance of 22.5%-23.5%.
  • Net income is expected to be in the range of $97-$101 million on a GAAP basis, compared to our previous guidance of $112-$117 million. Adjusted (non-GAAP) net income is expected to be in the range of $134-$138 million, compared to our previous guidance of $149-$154 million. This reflects a tax rate of 20% on adjusted pre-tax income, consistent with our previous guidance.
  • Net income per share (GAAP) is expected to be in the range of $1.70-$1.77 on a fully diluted basis, compared with our previous guidance of $1.96-$2.04. Adjusted net income per share (non-GAAP) is expected to be in the range of $2.35-$2.42 vs. $2.64 consensus on a fully diluted basis, compared to our previous guidance of $2.61-$2.69.

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