Repligen Corp. Files Q2 2024 10-Q

TL;DR

Repligen's Q2 10-Q is in! Financials look solid, keep an eye on acquisition impacts.

AI Summary

Repligen Corp. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and business operations, including information related to acquisitions like Avitide, Flexbiosys, and Metenova, and their associated contingent considerations. The company's fiscal year ends on December 31st, and its principal executive offices are located in Waltham, MA.

Why It Matters

This 10-Q filing provides investors and analysts with the latest financial health and operational updates for Repligen Corp., crucial for understanding its performance and future prospects.

Risk Assessment

Risk Level: medium — The filing contains information on contingent considerations and fair value measurements, which can introduce financial complexities and potential risks.

Key Numbers

• 2024-06-30 — Reporting Date (End of the second quarter for the 10-Q filing.)
• 2023-06-30 — Prior Year Quarter End (Comparison point for financial performance.)

Key Players & Entities

• REPLIGEN CORP (company) — Filer
• 20240630 (date) — Period of Report
• Waltham, MA (location) — Business Address
• Avitide (company) — Acquisition
• Flexbiosys (company) — Acquisition
• Metenova (company) — Acquisition
• Spectrum Inc (company) — Principal Owner

FAQ

Key Financial Figures

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

Filing Documents

• rgen-20240630.htm (10-Q) — 2424KB
• rgen-ex10_1.htm (EX-10.1) — 168KB
• rgen-ex10_2.htm (EX-10.2) — 167KB
• rgen-ex31_1.htm (EX-31.1) — 14KB
• rgen-ex31_2.htm (EX-31.2) — 14KB
• rgen-ex32_1.htm (EX-32.1) — 16KB
• 0000950170-24-087981.txt ( ) — 12100KB
• rgen-20240630.xsd (EX-101.SCH) — 1759KB
• rgen-20240630_htm.xml (XML) — 2374KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 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 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 36 PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 3. Defaults Upon Senior Securities 38 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 39

– 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) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 809,146 $ 751,323 Accounts receivable, net of reserves of $ 1,823 and $ 2,122 at June 30, 2024 and December 31, 2023, respectively 123,245 124,161 Inventories, net 190,528 202,321 Assets held for sale 1,016 — Prepaid expenses and other current assets 34,983 33,238 Total current assets 1,158,918 1,111,043 Noncurrent assets: Property, plant and equipment, net 204,599 207,440 Intangible assets, net 379,813 400,486 Goodwill 985,613 987,120 Deferred tax assets 678 1,530 Operating lease right of use assets 131,450 115,515 Other noncurrent assets 853 1,277 Total noncurrent assets 1,703,006 1,713,368 Total assets $ 2,861,924 $ 2,824,411 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 20,910 $ 19,563 Operating lease liability 12,129 5,631 Current contingent consideration 13,936 12,983 Accrued liabilities 57,851 50,533 Convertible Senior Notes due 2024, net 69,481 69,452 Total current liabilities 174,307 158,162 Noncurrent liabilities: Convertible Senior Notes due 2028, net 517,725 510,143 Deferred tax liabilities 36,305 40,466 Noncurrent operating lease liability 143,518 126,578 Noncurrent contingent consideration — 14,070 Other noncurrent liabilities 3,707 3,789 Total noncurrent liabilities 701,255 695,046 Total liabilities 875,562 853,208 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; 55,902,860 shares at June 30, 2024 and 55,766,078 share

View Full Filing

View this 10-Q filing on SEC EDGAR