Repligen Corporation · NASDAQ:RGEN
Repligen — J.P. Morgan 43rd Annual Healthcare Conference 2025
33 slides from Repligen's conference presentation, Jan 14, 2025
Slide 1: J.P. Morgan 43rd Annual Healthcare Conference
J.P. Morgan January 43rd Annual14, 2025 Investment Healthcare Conference Olivier Loeillot President and Chief Executive Officer January 14, 2025 1
Slide 2: Safe Harbor / Non-GAAP financial measures
Safe Harbor / Non-GAAP financial measures This presentation contains forward-looking statements within the meaning of the federal securities laws. Statements in this presentation which are not strictly historical statements including, without limitation, express or implied statements or guidance reg
Slide 3: Who is Repligen?
») Who is Repligen? ) REPLIGEN
Slide 4: Repligen Snapshot: Innovation Leader in Bioprocessing
Repligen Snapshot: Innovation Leader in Bioprocessing • Supporting Pharma and CDMO’s with a broad and Performing Above Market differentiated portfolio of hardware & consumables used • 14 disruptive product launches … organic in their biological drug production R&D and 14 acquisitions since 2014 • 19
Slide 5: 2024 Business Highlights
2024 Business Highlights 2-3% ~80% ~ +100 bps M&A 68% Revenue Growth 2024e Revenue from Highly Gross Margin Executing with Strict Reduction in Scope 2 ex-COVID Differentiated Products Expansion Criteria Emissions Filtration, Chrom & Examples: Net price realization Tantti acquisition … 88% global ele
Slide 6: Strong End Markets with Positive Trends Entering 2025
Strong End Markets with Positive Trends Entering 2025 Market Trends mAb-based • Biopharma market growing HSD with aging Therapeutics 8-10% Projected CAGR Most mature, ~$250B 184 US FDA approvals population Market 2024e largest, steady ~$15B ~2K Ph 1-3 clinical pipeline • Majority of R&D pipeline in
Slide 7: Broad Portfolio Across the Bioproduction Workflow; Addressing Pain Points
Broad Portfolio Across the Bioproduction Workflow; Addressing Pain Points 7
Slide 8: Broad Portfolio Across the Bioproduction Workflow; Addressing Pain Points
Broad Portfolio Across the Bioproduction Workflow; Addressing Pain Points 8
Slide 9: How are we Different?
How are we Different? Our approach to winning through differentiation 9
Slide 10: Repligen's Value Creation Equation
Repligen’s Value Creation Equation Strategy Capabilities Results: 2014 to 2024e ✓ 100% Bioprocessing including ✓ Innovation enabling customer ✓ 10-fold increase in revenue Analytics efficiency ✓ Adj. EPS $0.24 to $1.54 ✓ Disruptive technology launches ✓ Our culture … nimble, to generate productivity
Slide 11: Executing our Algorithm for Consistent Growth Above Market
Executing our Algorithm for Consistent Growth Above Market Ways we grow above market Delivered through product launches & differentiated M&A 1. Create solutions for unmet ✓ Process intensification; single use XCell® ATF needs that expand the ✓ OPUS® Pre-Packed Columns (PD to LS) overall market 2. In
Slide 12: Expanding our Total Addressable Market: $12B of ~$20B Total
Expanding our Total Addressable Market: $12B of ~$20B Total 14000 ~$12B We increased our TAM by 3x over four years through: 12000 Analytics ✓ Strategic M&A, R&D, entry into new markets 10000 3x increase Chrom in TAM ✓ Creation of new markets 8000 Filtration ✓ Expanded portfolio, workflow coverage an
Slide 13: Differentiated M&A: High Potential Technology, Strategic Relevance
Differentiated M&A: High Potential Technology, Strategic Relevance Filtration Chrom Proteins Analytics Filtration Disciplined M&A What we look for: • Technology first − Differentiated, flexible, scalable Avitide − Complementary or synergistic Refine Atoll GmbH C Technologies TangenX Tantti • Strateg
Slide 14: Recently Launched Products … Innovation for New Modalities
Recently Launched Products … Innovation for New Modalities KrosFlo® RS-10 RPM AVIPure® dsRNA Clear OPUS® columns Launched Q2 2024 Launched Q4 2024 First and only affinity resin to remove Integrated PAT dsRNA from transcribed RNA without heat or solvents Filtration Fluid Mgmt. Analytics Prepacked Fir
Slide 15: Just Launched! Next-Gen PAT System: Primary Focus on mAbs and ADCs
Just Launched! Next-Gen PAT System: Primary Focus on mAbs and ADCs CTech SoloVPE® PLUS System Launched Q1 2025 Integrated PAT Process Analytics At-line variable pathlength UV-Vis technology; precise, reproducible data in under 30 seconds, with no dilution 15
Slide 16: The Next 5-10 Years
The Next 5-10 Years Positioning for continued success 16
Slide 17: Leading the Industry in New Modality Innovation
Leading the Industry in New Modality Innovation RGEN New Modality Revenue New Modality Breakout Highlights $140 • 2024e growth ~10% ~$130M $120 Other • Purpose built solutions incl. 35% AAV ~35% Lenti/CAR-T Developer RNA ~45% 3% 6% AAV − KrosFlo® RS-10 UF/DF concentration $100 24% 5-yr CAGR − OPUS P
Slide 18: Well-Positioned for The Digitization Journey
Well-Positioned for The Digitization Journey The Digitization Model continues to mature Maturity Process Modeling and • Process Modeling & Automation broadly utilized Automation to speed R&D and improve manufacturing productivity Growing/Mature • PAT technologies have been introduced “at-line” PAT a
Slide 19: Fit for Growth … the People, Culture and Processes to Grow
Fit for Growth … the People, Culture and Processes to Grow People & • Retain & attract great talent … developing leaders for the future Culture • Collaborate across functions … fast decision making • Optimized global footprint … concentrate investments on state-of-the-art Ops ‘anchor’ sites, while m
Slide 20: Wrap Up
Wrap Up Financial Highlights & 2025 Priorities 20
Slide 21: Financial Highlights
Financial Highlights Revenue Growth Adj. EPS - Diluted Top Financial Value Creation Levers $634.5M $1.54 1. Compelling above-market revenue growth trajectory ~19% $270M $1.07 CAGR 2. Commitment to margin expansion and continued cost discipline … productivity execution and leverage 2019 2024e 2019 20
Slide 22: Our 2025 Priorities
Our 2025 Priorities Top 5 Priorities Framework 1. Accelerate growth with a Low-double digit growth ex-COVID; transformed customer experience increased investment in APAC 2. Expand margins 100 – 200 bps expansion 3. Continue to innovate (R&D) Disruptive new product launches 4. Pursue and integrate M&
Slide 23: Wrap up … Why Repligen?
Wrap up … Why Repligen? ✓ Breakthrough innovation is in our DNA … positively influencing the future of bioprocessing ✓ Top industry expertise and proven track record; capability to scale ✓ Earned reputation for customer centricity, flexibility and quick execution ✓ Well defined algorithm to continue
Slide 24: Thank You!
»)) Thank You! t) REPLIGEN
Slide 25: Reconciliation Tables
(a ») Reconciliation Tables 0 REPLIGEN
Slide 26: 2024 Guidance Reconciliation – Earnings Per Share
2024 Guidance Reconciliation – Earnings Per Share Reconciliation of Earnings Per Share (GAAP) Guidance to Adjusted Earnings Per Share (Non-GAAP) Guidance Twelve months ending December 31, Low End High End GUIDANCE ON EARNINGS PER SHARE (GAAP) - DILUTED $ 0.25 $ 0.32 ADJUSTMENTS TO GUIDANCE ON EARNIN
Slide 27: 2019 Reconciliation – Earnings Per Share
2019 Reconciliation – Earnings Per Share Reconciliation of Earnings Per Share (GAAP) to Adjusted Earnings Per Share (Non-GAAP) Twelve months ended December 31, 2019 EARNINGS PER SHARE (GAAP) - DILUTED $ 0.44 ADJUSTMENTS TO EARNINGS PER SHARE (GAAP) - DILUTED Acquisition and integration $ 0.26 Invent
Slide 28: 2014 Reconciliation – Earnings Per Share
2014 Reconciliation – Earnings Per Share Reconciliation of Earnings Per Share (GAAP) to Adjusted Earnings Per Share (Non-GAAP) Twelve months ended December 31, 2014 EARNINGS PER SHARE (GAAP) - DILUTED $ 0.25 ADJUSTMENTS TO EARNINGS PER SHARE (GAAP) - DILUTED Royalty and other revenue $ (0.09) Acquis
Slide 29: Appendix
\)) Appendix t) REPLIGEN
Slide 30: Revenue Splits 2024e
Revenue Splits 2024e 2% 5% China 15% 17% ~4% 20% 25% 35% 30% 34% 35% 25% 78% 65% 70% 75% 65% 55% 49% Biopharma Developers Consumables Clinical mAb-based Americas CDMOs Equipment Commercial New Modalities EMEA Integrator/Other Service COVID APAC 2024 revenue guidance $630 - $639M as of November 12, 2
Slide 31: Flagship Products: Gold Standard Technology, Integrated Systems
Flagship Products: Gold Standard Technology, Integrated Systems XCell® XCell® ATF ATF Systems Systems KRM Chromatography Systems with OPUS® pre-packed columns State-of-the-art integrated chroma system • Effortless scale up where “every drop counts” • 100% single-use and simple • No dead-legs, minima
Slide 32: Bioprocessing workflow and product portfolio
Media Prepara' Buffer Preparation ATF Filtration Py = L XCell* ATE ~ Clarification wi? | for Gene Therapy* AVIPure* Resins 7 ‘0PUS* columns Chromatography , 4 KrosFlo® TOF Virus Inactivation Harvest Purification Concentration Fill & Finish A A A A Upstream Systems Harvest Systems Downstream Systems
Slide 33: Questions?
Questions? Contact investors@repligen.com 33
Repligen — J.P. Morgan 43rd Annual Healthcare Conference 2025 on 6ix