Repligen Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Repligen Corp's Q1 2024 10-Q filing details financial instruments and fair value measurements.</b>

AI Summary

REPLIGEN CORP (RGEN) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. Repligen Corp filed a 10-Q report for the period ending March 31, 2024. The filing references various financial instruments including convertible senior notes due 2028 and 2024. Key dates mentioned include December 14, 2023, and July 19, 2019, related to debt issuances. The company's fiscal year ends on December 31. The filing details fair value measurements for recurring items, including contingent consideration.

Why It Matters

For investors and stakeholders tracking REPLIGEN CORP, this filing contains several important signals. This filing provides an update on Repligen's financial position and activities for the first quarter of 2024, including details on their debt obligations and fair value accounting. Investors can use this report to assess the company's financial health, understand its capital structure, and evaluate the valuation of its financial instruments.

Risk Assessment

Risk Level: low — REPLIGEN CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Monitor future filings for updates on the performance of convertible notes and contingent consideration, as well as any changes in revenue or expenses.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-01 — Filing Date (FILED AS OF DATE)
• 1.00% — Convertible Senior Notes Rate (1.00% Convertible Senior Notes Due Twenty Twenty Eight)
• 2028 — Convertible Senior Notes Maturity Year (1.00% Convertible Senior Notes Due Twenty Twenty Eight)
• 2024 — Convertible Senior Notes Maturity Year (Zero Point Three Seven Five Percent Convertible Senior Notes Due Twenty Twenty Four)
• 2023-12-14 — Note Issuance Date (Exchange Transaction Member)
• 2019-07-19 — Note Issuance Date (Zero Point Three Seven Five Percent Convertible Senior Notes Due Twenty Twenty Four)

Key Players & Entities

• REPLIGEN CORP (company) — FILER
• RGEN (company) — ticker symbol
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-01 (date) — FILED AS OF DATE
• 0000730272 (company) — CENTRAL INDEX KEY
• DE (jurisdiction) — STATE OF INCORPORATION
• WALTHAM (location) — CITY
• MA (location) — STATE

FAQ

Risk Factors

• Customer Concentration Risk [medium — financial]: The company acknowledges customer concentration risk, specifically mentioning Pfizer as a significant customer for sales revenue in the period of January 1, 2023, to March 31, 2023.

Key Dates

• 2024-03-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-05-01: Filing Date — Date the 10-Q report was officially filed with the SEC.
• 2023-12-14: Convertible Note Transaction — Date related to the 1.00% Convertible Senior Notes Due Twenty Twenty Eight.

Key Financial Figures

• $0.01 — h registered Common Stock , par value $0.01 per share RGEN The Nasdaq Global Se

Filing Documents

• rgen-20240331.htm (10-Q) — 1867KB
• rgen-ex31_1.htm (EX-31.1) — 13KB
• rgen-ex31_2.htm (EX-31.2) — 13KB
• rgen-ex32_1.htm (EX-32.1) — 16KB
• 0000950170-24-051310.txt (&nbsp;) — 10182KB
• rgen-20240331.xsd (EX-101.SCH) — 1720KB
• rgen-20240331_htm.xml (XML) — 1975KB

Financial Statements (interim periods unaudited)

Financial Statements (interim periods unaudited) Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Comprehensive (Loss) Income for the Three Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 33 PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 3. Defaults Upon Senior Securities 35 Item 4. Mine Safety Disclosures 35 Item 5. Other Information 35 Item 6. Exhibits 36

– FINANCIAL INF ORMATION

PART I – FINANCIAL INF ORMATION

Financia l Statements

ITEM 1. Financia l Statements REPLIGEN CORPORATION CONDENSED CONSOLIDATED B AL ANCE SHEETS (Unaudited, amounts in thousands, except share data) March 31, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 780,617 $ 751,323 Accounts receivable, net of reserves of $ 1,918 and $ 2,122 at March 31, 2024 and December 31, 2023, respectively 115,766 124,161 Inventories, net 198,033 202,321 Assets held for sale 1,016 — Prepaid expenses and other current assets 37,586 33,238 Total current assets 1,133,018 1,111,043 Noncurrent assets: Property, plant and equipment, net 205,716 207,440 Intangible assets, net 388,146 400,486 Goodwill 985,963 987,120 Deferred tax assets 866 1,530 Operating lease right of use assets 134,604 115,515 Other noncurrent assets 956 1,277 Total noncurrent assets 1,716,251 1,713,368 Total assets $ 2,849,269 $ 2,824,411 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 18,731 $ 19,563 Operating lease liability 9,781 5,631 Current contingent consideration 24,352 12,983 Accrued liabilities 55,971 50,533 Convertible Senior Notes due 2024, net 69,480 69,452 Total current liabilities 178,315 158,162 Noncurrent liabilities: Convertible Senior Notes due 2028, net 513,918 510,143 Deferred tax liabilities 38,238 40,466 Noncurrent operating lease liability 144,551 126,578 Noncurrent contingent consideration — 14,070 Other noncurrent liabilities 3,646 3,789 Total noncurrent liabilities 700,353 695,046 Total liabilities 878,668 853,208 Commitments and contingencies (Note 10) Stockholders' equity: Preferred stock, $ 0.01 par value, 5,000,000 shares authorized, no shares issued or outstanding — — Common stock, $ 0.01 par value; 80,000,000 shares authorized; 55,841,318 shares at March 31, 2024 and 55,766,078 sha

View Full Filing

View this 10-Q filing on SEC EDGAR