RGEN - Repligen reports Q3 earnings beat; updates FY22 guidance range above estimates

• Repligen press release ( NASDAQ: RGEN ): Q3 Non-GAAP EPS of $0.77 beats by $0.09 .
• Revenue of $200.7M (+12.6% Y/Y) beats by $9.2M .
• Gross margin for the third quarter of 2022 was 56.9%, compared to 57.6% for the third quarter of 2021.
• Adjusted gross margin for the third quarter was 57.0%, compared to 58.3% in the 2021 period.
• Adjusted EBITDA for the third quarter of 2022 was $57.9M, compared to $60.5M for the third quarter of 2021.
• Financial Guidance for 2022: Total reported revenue is expected to be in the range of $795M-$805M vs. consensus of $803.96M, compared to our previous guidance of $790-$810 million.
• We are now guiding to overall revenue growth of 19%-20% as reported, compared to our previous guidance of 18%-21%. We are increasing our guidance for growth at constant currency to 24%-25%, and increasing our organic growth guidance to 21%-22%.
• Gross margin is expected to be 57.5%-58.5% on both a GAAP and non-GAAP basis, consistent with our previous guidance.
• Income from operations is expected to be in the range of $203-$207 million on a GAAP basis. Adjusted (non-GAAP) income from operations is expected to be in the range of $231-$235 million, compared to our previous guidance of $234-$239 million.
• Net income is expected to be in the range of $158-$161 million on a GAAP basis.
• Adjusted (non-GAAP) net income is expected to be in the range of $181-$184 million, as compared to our previous guidance of $180-$184 million. Our current guidance reflects a tax rate of 19% on adjusted pre-tax income.
• Fully diluted GAAP EPS is expected to be in the range of $2.76-$2.81. Adjusted (non-GAAP) fully diluted EPS is expected to be in the range of $3.15-$3.20 vs. consensus of $2.72, as compared to our previous guidance of $3.13-$3.20.

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