Business
Repligen Reports Third Quarter 2022 Financial Results and Updates Full Year 2022 Financial Guidance
Reports revenue of $200.7 million for the quarter, representing year-over-year growth of 13% as reported, 19% at constant currency and 16% organicDelivers
About this update from Repligen Corporation
[{"type":"text","content":"Reports revenue of $200.7 million for the quarter, representing year-over-year growth of 13% as reported, 19% at constant currency and 16% organicDelivers base business growth of 29% for the quarterExpands Process Analytics portfolio with DRS Daylight Solutions agreement WALTHAM, Mass., Nov. 01, 2022 (GLOBE NEWSWIRE) -- Repligen Corporation (NASDAQ:RGEN), a life sciences company focused on bioprocessing technology leadership, today reported financial results for its third quarter of 2022. Provided in this press release are financial highlights for the three- and nine- month periods ended September 30, 2022, updates to our financial guidance for the year 2022 and access information for today’s webcast and conference call. Tony J. Hunt, President and Chief Executive Officer said, “I’m very pleased with our performance for the third quarter, with reported revenue of $201 million reflecting overall revenue growth of approximately 13% year-over-year, and 19% at constant currency. We continue to see strength in our base business, where third quarter revenue grew 29% year-over-year, and is expected to be in the range of 33%-34% for the full year. Strategically, we executed on two important deals, signing a 15-year agreement with DRS Daylight Solutions on real-time process monitoring using mid-infrared technology and more recently extending our affinity ligand relationship with Purolite (an EcoLab company) until 2032. We are confident about our full year outlook for the company with overall revenue growth of 19%-20% as reported and 24%-25% at constant currency.” Financial Highlights for the Third Quarter and First Nine Months of 2022 REVENUE Total revenue as reported for the third quarter of 2022 increased to $200.7 million compared to $178.2 million for the third quarter of 2021, a year-over-year gain of 13%, or 19% at constant currency, and organic growth of 16%.Total revenue as reported for the first nine months of 2022 increased to $614.8 million compared to $484.0 million for the first nine months of 2021, a year-over-year gain of 27%, or 32% at constant currency, and organic growth of 28%. REVENUE MIX For the third quarter of 2022, our base business accounted for approximately 83% of revenue, COVID-related sales accounted for 14%, and inorganic revenue from acquisitions made in 2021 accounted for 3% of revenue.For the first nine m...