REPLIGEN CORP

Listed Company

RGENCIK 0000730272NasdaqLarge AcceleratedBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$48.89M

Total Assets

$2.95B

Equity

$2.11B

Shares Out

56.33M

Op. Cash Flow

$117.42M

Business

REPLIGEN CORP is a global life sciences company that develops and commercializes bioprocessing technologies and systems to increase efficiency and flexibility in the manufacture of biological drugs. It offers consumables and equipment across filtration, chromatography, process analytics and proteins franchises, including XCell ATF cell retention systems, TangenX and SIUS TFF consumables and devices, KrosFlo TFF and TFDF systems, OPUS pre‑packed columns, SoloVPE/FlowVPX analytics, and affinity ligands/resins and growth factors. The company operates one integrated bioprocessing business organized into four main franchises: Filtration (including fluid management), Chromatography, Process Analytics and Proteins. Its customers include global biopharmaceutical companies, contract development and manufacturing organizations and other life‑science integrators, served through direct sales, field applications support, distributors and regional manufacturing sites across North America, Europe and Asia.

Summary from filing dated 2025-03-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	738	634	632	802	671
Cost of goods sold	352	360	354	346	279
Research and development	54	43	43	44	34
Selling, general and administrative	291	263	219	216	184
Change in fair value of contingent consideration	−14	3	−31	−29	6
Total costs and operating expenses	683	670	585	577	503
Income (loss) from operations	55	−35	48	225	167
Investment income	28	36	24	7	176,000
Interest expense	−22	−21	−3	−1	—
Loss on extinguishment of debt	0	0	−13	0	0
Amortization of debt issuance costs	−2	−2	−8	—	—
Other income (expense), net	3	−5	8	−10	−1
Other income, net	7	8	9	−6	−14
Income before income taxes	62	−27	57	219	154
Income tax provision (benefit)	13	−2	21	33	25
Net income (loss)	49	−26	36	186	128
Basic (per share)	0.87	−0.46	0.64	3.35	2.33
Diluted (per share)	0.86	−0.46	0.63	3.24	2.24
Basic (shares)	56,234	55,937	55,720	55,460	55,015
Diluted (shares)	56,561	55,937	56,377	57,455	57,264
Unrealized gain on available-for-sale securities, net of tax	53,000	0	0	—	—
Foreign currency translation adjustment	50	−15	−3	−18	−19
Comprehensive income (loss)	99	−40	32	168	109

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	566	757	751	523	604
Marketable securities	202	0	—	—	—
Accounts receivable, net of allowances of $2,767 and $1,832 at December 31, 2025 and December 31, 2024, respectively	159	134	124	116	117
Inventories, net	170	143	202	238	184
Prepaid expenses and other current assets	41	32	34	20	26
Total current assets	1,137	1,066	1,111	998	932
Property, plant and equipment, net	187	198	207	191	125
Intangible assets, net	386	398	407	354	337
Goodwill	1,114	1,031	987	856	860
Deferred tax assets	694,000	749,000	2	840,000	2
Operating lease right of use assets	120	135	116	125	102
Other noncurrent assets	5	868,000	1	815,000	615,000
Total noncurrent assets	1,812	1,764	1,720	1,527	1,427
Total assets	2,950	2,830	2,831	2,525	2,358
Accounts payable	30	32	20	28	36
Operating lease liabilities	22	15	6	7	8
Contingent consideration	5	17	13	14	0
Accrued liabilities	79	62	57	71	75
Total current liabilities	136	127	165	404	375
Convertible Senior Notes due 2028, net	542	526	—	—	—
Deferred tax liabilities	22	23	39	23	33
Noncurrent operating lease liabilities	126	146	127	131	102
Noncurrent contingent consideration	1	20	14	52	94
Other noncurrent liabilities	16	17	11	4	3
Total noncurrent liabilities	708	730	701	210	233
Total liabilities	844	857	866	614	608
Commitments and contingencies (Note 12)	—	—	—	—	—
Preferred stock, $0.01 par value, 5,000,000 shares authorized, no shares issued or outstanding	0	0	0	0	0
Common stock, $0.01 par value; 80,000,000 shares authorized; 56,325,429 shares at December 31, 2025 and 56,091,677 shares at December 31, 2024 issued and outstanding	563,000	561,000	558,000	556,000	553,000
Additional paid-in capital	1,652	1,617	1,569	1,547	1,572
Accumulated other comprehensive loss	−3	−53	−38	−34	−17
Retained earnings	456	407	433	397	17
Total stockholders' equity	2,106	1,973	1,965	1,911	1,750
Total liabilities and stockholders' equity	2,950	2,830	2,831	2,525	2,358

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	79	70	69	51	38
Amortization of debt discount and issuance costs	17	16	2	—	—
Inventory step-up amortization	2	0	1	—	—
Stock-based compensation	33	48	26	27	28
Deferred income taxes, net	−3	−17	1	−1	7
Non-cash interest income	0	0	−2	0	0
Net unrealized foreign exchange gain	−13	0	0	—	—
Operating lease right of use asset amortization	18	17	18	—	—
Other adjustments and non-cash items	2	3	2	−100,000	864,000
Accounts receivable	−17	−14	−3	−4	−47
Inventories	−15	57	41	−57	−90
Prepaid expenses and other current assets	−8	2	−13	2	−10
Other noncurrent assets	−2	471,000	−461,000	—	—
Accounts payable	−4	13	−10	−8	20
Accrued liabilities	12	6	−22	−2	23
Operating lease liabilities	−16	−8	−13	−2	7
Noncurrent liabilities	−2	5	87,000	966,000	−1
Total cash provided by operating activities	117	175	114	172	119
Acquisitions, net of cash acquired	−70	−55	−187	0	−150
Purchases of marketable securities	−200	0	0	—	—
Maturities of marketable securities	0	0	102	0	0
Additions to capitalized software costs	−2	−4	−3	−4	−4
Purchases of property, plant and equipment	−24	−26	−36	−85	−67
Sale of property, plant and equipment	238,000	0	0	—	—
Purchase of intellectual property	0	−3	0	−45	0
Other investing activities	−2	1	32,000	110,000	0
Total cash used in investing activities	−298	−86	−123	−233	−221
Repurchase of common stock	0	0	−14	0	0
Proceeds from issuance of 2023 Notes	0	0	290	0	0
Proceeds from exercise of stock options	3	4	1	4	4
Payment of debt issuance costs	0	0	−7	0	0
Payment of tax withholding obligation on vesting of restricted stock	−9	−10	−13	−17	−3
Repayment of 2019 Notes	0	−70	0	0	−21,000
Payment of earnout consideration	−10	−7	−7	0	0
Other financing activities	0	0	−45,000	−26,000	−21,000
Total cash (used in) provided by financing activities	−15	−83	249	−13	961,000
Effect of exchange rate changes on cash and cash equivalents	5	−77,000	−12	−6	−12
Net (decrease) increase in cash and cash equivalents	−191	6	228	−80	−113
Income taxes paid	21	19	27	34	17
Assets acquired under operating leases	5	38	4	29	85
Fair value of shares of common stock issued for acquisitions	0	0	14	0	83
Fair value of shares of common stock issued for contingent consideration earnouts	8	6	7	0	0
Acquisition date fair value of contingent consideration earnouts	0	20	7	0	88
Issuance of 2023 Notes in exchange of 2019 Notes	0	0	42	0	0
Extinguished 2019 Notes	0	0	30	0	0

Filings

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