REPLIGEN CORP
For the period ended Jun 30, 2024. Filed Jul 30, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 30, 2024
RGEN$173.49+3.0%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 1. Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023
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 shares at December 31, 2023 issued and outstanding | 559 | 558 |
| Additional paid-in capital | 1,585,782 | 1,569,227 |
| Accumulated other comprehensive loss | (44,243) | (37,431) |
| Accumulated earnings | 444,264 | 438,849 |
| Total stockholders’ equity | 1,986,362 | 1,971,203 |
| Total liabilities and stockholders’ equity | $2,861,924 | $2,824,411 |
Condensed CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Unaudited, amounts in thousands, except per share data)
| Three Months Ended June 30, | Six Months EndedJune 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue: | ||||
| Product | $154,038 | $159,133 | $305,348 | $341,754 |
| Royalty and other revenue | 35 | 36 | 71 | 75 |
| Total revenue | 154,073 | 159,169 | 305,419 | 341,829 |
| Costs and operating expenses: | ||||
| Cost of goods sold | 77,314 | 79,307 | 153,705 | 161,152 |
| Research and development | 10,575 | 9,706 | 21,813 | 21,860 |
| Selling, general and administrative | 64,697 | 48,966 | 126,383 | 105,136 |
| Contingent consideration | — | 1,791 | — | 3,026 |
| Total costs and operating expenses | 152,586 | 139,770 | 301,901 | 291,174 |
| Income from operations | 1,487 | 19,399 | 3,518 | 50,655 |
| Other income (expenses): | ||||
| Investment income | 9,411 | 5,964 | 18,404 | 11,450 |
| Interest expense | (4,981) | (274) | (9,872) | (544) |
| Amortization of debt issuance costs | (520) | (457) | (1,003) | (914) |
| Other (expenses) income | (215) | 528 | (3,751) | 605 |
| Other income, net | 3,695 | 5,761 | 3,778 | 10,597 |
| Income before income taxes | 5,182 | 25,160 | 7,296 | 61,252 |
| Income tax provision | 1,861 | 5,096 | 1,881 | 12,359 |
| Net income | $3,321 | $20,064 | $5,415 | $48,893 |
| Earnings per share: | ||||
| Basic | $0.06 | $0.36 | $0.10 | $0.88 |
| Diluted (Note 12) | $0.06 | $0.35 | $0.10 | $0.86 |
| Weighted average common shares outstanding: | ||||
| Basic | 55,884 | 55,705 | 55,838 | 55,648 |
| Diluted (Note 12) | 56,434 | 56,858 | 56,477 | 56,932 |
| Net income | $3,321 | $20,064 | $5,415 | $48,893 |
| Other comprehensive income (loss): | ||||
| Foreign currency translation adjustment | (1,531) | (6,068) | (6,812) | (2,795) |
| Comprehensive income (loss) | $1,790 | $13,996 | $(1,397) | $46,098 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.