Repligen (RGEN) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $204 million, up 12% reported and 13% organic year-over-year, led by strong performance in Proteins (~50% growth) and Process Analytics (>30% growth), with broad-based demand and market outperformance.

• Adjusted operating income rose 55% year-over-year to $34 million, with adjusted EPS up 46% to $0.54; GAAP net income declined due to a $13.7 million loss on the Polymem sale and higher taxes.

• Announced a definitive agreement to acquire BioLife Solutions for $1.5 billion, expected to close in Q4 2026, accelerating cell therapy strategy and anticipated to be accretive to revenue, margin, and EPS.

• Opened a new Training & Innovation Center in the Netherlands and published the 2025 Sustainability Report.

Financial highlights

• Q2 revenue was $204 million, up from $182 million in Q2 2025; recurring revenue and product revenue grew across the portfolio, with APAC up 43.3% and North America up 17.3%.

• Adjusted gross profit was $110 million with a 53.9% margin, up 280 basis points year-over-year; adjusted operating margin was 16.7%, and adjusted EBITDA margin was 21.4%.

• Adjusted net income was $31 million, up 45% year-over-year; adjusted net income margin was 15.1%.

• Cash, cash equivalents, and marketable securities totaled $810 million at quarter-end.

• Operating cash flow for the first half of 2026 was $61.1 million, up from $43.6 million in the prior year period.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $813–$835 million (10–13% reported growth, 10.5–13.5% organic); adjusted EPS guidance increased to $2.03–$2.09.

• Adjusted operating income guidance increased to $128–$134 million (15.7–16% margin); adjusted EBITDA margin expected at 20.3–21.0%.

• Q3 expected to be the lowest margin quarter, with margins rebounding in Q4 due to volume leverage.

• Operating expenses expected to rise in 2026 as the company expands bioprocessing and invests in R&D and commercial capabilities.