Repligen (RGEN) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached $194.3 million, up 15% year-over-year as reported (14.8%–15%), with strong growth across all product franchises and geographies, especially in Analytics, Chromatography, and Asia Pacific.

• Adjusted operating margin expanded by 160 basis points, and gross margin improved to 55.7%, driven by disciplined cost management and favorable product mix.

• Strategic actions included launching a Transformation Office, divesting the Polymem business, and establishing a new OEM partnership in China.

• Analytics franchise grew over 50%, Chromatography over 25%, and services over 30%; China revenue nearly doubled year-over-year.

• Net income for Q1 2026 was $8.3 million, with GAAP EPS of $0.15 (up 50% year-over-year) and adjusted EPS of $0.48 (up 23%).

Financial highlights

• Q1 2026 revenue was $194.3 million, up 15% year-over-year (11% organic).

• Adjusted gross profit reached $108 million, with gross margin at 55.5%–55.7%, up 180 basis points year-over-year.

• Adjusted income from operations was $30 million, up from $23 million in Q1 2025; GAAP operating income was $16 million.

• Adjusted EBITDA was $40 million (margin 20.6%), and adjusted EPS was $0.48, up 23% from Q1 2025.

• Cash and marketable securities totaled $785 million at quarter-end, up from $768 million at year-end 2025.

Outlook and guidance

• Full-year 2026 revenue guidance updated to $803–$833 million (9%–13% growth), reflecting the Polymem divestiture.

• Organic growth guidance reiterated at 9%–13%; Q2 organic revenue growth expected to be similar to Q1.

• Adjusted operating income guidance raised to $124–$132 million, with 160–200 basis points of operating margin expansion.

• Adjusted EPS guidance increased to $1.97–$2.05, up 18% at the midpoint versus 2025.

• FY26 adjusted gross margin expected at 53.7%–54.2%; adjusted EBITDA margin at 20.3%–20.8%.