Repligen Corporation reported a total revenue of $169.2 million for the first quarter of 2025, reflecting a 10.4% increase from $153.2 million in the same period of 2024. The growth was primarily driven by a $16.0 million rise in product revenue, which reached $169.1 million, attributed to strong performance in the Proteins, Chromatography, and Analytics segments. However, the company noted a decline in Filtration revenue due to the absence of a significant hardware sale from the previous year and a decrease in COVID-19 related sales. The net income for the quarter was $5.8 million, or $0.10 per diluted share, compared to $3.3 million, or $0.06 per diluted share, in the prior year.
In terms of operational changes, Repligen completed the acquisition of 908 Devices Inc.'s desktop portfolio for bioprocessing applications on March 4, 2025, for $69.9 million. This acquisition is expected to enhance Repligen's capabilities in process analytical technology. Additionally, the company acquired Tantti Laboratory Inc. in December 2024, further expanding its product offerings in the bioprocessing sector. The integration of these acquisitions contributed to increased operating expenses, particularly in selling, general, and administrative costs, which rose by 15.3% to $71.3 million.
Repligen's total assets increased to $2.85 billion as of March 31, 2025, up from $2.83 billion at the end of 2024. The company reported cash and cash equivalents of $697.2 million, a decrease from $757.4 million, primarily due to cash used in the recent acquisition. The company’s employee headcount has also grown, reflecting its expansion efforts. The total liabilities stood at $866.7 million, with current liabilities increasing significantly due to contingent considerations related to acquisitions.
Looking ahead, Repligen anticipates continued growth driven by its expanding product portfolio and market demand for bioprocessing technologies. The company is focused on integrating its recent acquisitions and enhancing operational efficiencies. However, it also faces challenges such as inflationary pressures on raw materials and potential fluctuations in foreign currency exchange rates. The management remains optimistic about leveraging its innovations and strategic acquisitions to capitalize on the growing biopharmaceutical market.
About REPLIGEN CORP
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