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Repligen (RGEN) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Repligen (RGEN) Q3 2026 earnings results →

Q3 2026 Revenue up 11% year over year to $209M · 18¢ of every $1 of revenue lost · operating margin -14.1%

Repligen made $209M in Q3 2026 (+11% Y/Y): Product $209M, Royalty and other revenue $44K. Operating margin -14.1%, net loss $38.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.

Revenue$209M
Year over year+11%
Operating margin-14.1%
Net earnings−$38.4M
Operating cash flow$43.1M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $209.3M in Q3 2026, up 11% year over year and up 3% from the previous quarter. Product was the largest line at 100% of revenue. Product added $20.5M year over year (up 11%), 100% of the total change.

Operating costs exceeded revenue by $29.5M, an operating margin of -14.1%. Total costs grew 39% against revenue growth of 11%. The quarter ended with a net loss of $38.4M, after a profit of $5.0M the previous quarter.

Operating cash flow was $43.1M (down 10% year over year). Non-cash charges added back $19.1M of depreciation and amortization and $9.4M of share-based compensation. Working capital and other items added $53.1M. Capital expenditures of $4.9M left free cash flow of $38.2M.

Quarterly history

Repligen revenue by quarterRepligen revenue by quarter$169MQ1 2025$182MQ2 2025$189MQ3 2025$198MQ4 2025$194MQ1 2026$204MQ2 2026$209MQ3 2026
Repligen net earnings by quarterRepligen net earnings by quarter$5.8MQ1 2025$14.9MQ2 2025$14.9MQ3 2025$13.3MQ4 2025$8.3MQ1 2026$5.0MQ2 2026−$38.4MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 30, 2026$209M+11%-14.1%−$38.4M$43.1M
Q2 202610-QJul 29, 2026$204M+12%6.8%$5.0M$32.8M
Q1 202610-QMay 6, 2026$194M+15%8.2%$8.3M$28.3M
Q4 202510-KFeb 26, 2026$198M+18%9.0%$13.3M$25.7M
Q3 202510-QNov 4, 2025$189M+22%8.9%$14.9M$48.1M
Q2 202510-QAug 7, 2025$182M+15%7.6%$14.9M$28.6M
Q1 202510-QApr 29, 2025$169M+10%3.9%$5.8M$15.0M

Charts

Repligen: revenue growth, year over year and quarter over quarterRepligen: revenue growth, year over year and quarter over quarterY/YQ/Q+10%Q1 2025+15%+8%Q2 2025+22%+4%Q3 2025+18%+5%Q4 2025+15%-2%Q1 2026+12%+5%Q2 2026+11%+3%Q3 2026
Latest (Q3 2026): Y/Y +11%, Q/Q +3%.
Repligen: where the cash came from (+) and went (−), TTM to Q3 2026Repligen: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$130MOther investing−$128MCapital spending−$23.1MCash drawn (+) / kept (−)$19.7MShares issued$16.9MTaxes on employees’ shares−$8.6MOther financing−$5.2MExchange rates−$1.8MAcquisitions−$374KAsset & business sales$196K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Repligen: profit against cash, quarter by quarterRepligen: profit against cash, quarter by quarterNet incomeOperating cash flow−$33.9M$39.2MQ4 2024$5.8M$15.0MQ1 2025$14.9M$28.6MQ2 2025$14.9M$48.1MQ3 2025$13.3M$25.7MQ4 2025$8.3M$28.3MQ1 2026$5.0M$32.8MQ2 2026−$38.4M$43.1MQ3 2026
Latest (Q3 2026): Net income −$38.4M, Operating cash flow $43.1M.
Repligen: diluted shares by fiscal yearRepligen: diluted shares by fiscal year0MFY20200MFY20210MFY20220MFY20230MFY20240MFY2025
+5.0% since FY2020: more shares outstanding (issuance, stock pay).
Repligen in its industry: growth against margin (76 companies, SIC 2836)Repligen in its industry: growth against margin (76 companies, SIC 2836)revenue growth, year over year →↑ operating marginmedian +9%median -100%AMGNGILDBIIBMRNANBIXEXELHALOMGTXTECHVIRTARSBCRXALECADMAKRYSIOVATWSTIPSCIMCRVISKVCELADPTNVAXKYMRGLUEIBRXAUTLAGENDNAPLXRXRXFENCCSBRCHRSIVVDCRSPEDITDTILVXRTSTRORGNXCCCCBSEMSCLXACOGTSHASRZNVYGRFDMTLENZALGSXFORELUTFATEOCGNSCTXCRBUCGONDBVTINBXMGXLCTXTCRXDYAIPRMEATRAVitro Biopharma, Inc.HUMARLAYPLURBEAMPROKCRDFAIMVIVSRGEN (+11%, -14%)
Biological Products, (No Diagnostic Substances); dot size is quarterly revenue; dashed lines are the industry's medians.

In supply chains and themes

GLP-1 & obesity drugs money flowGLP-1 & obesity drugs · Bioprocess & lab tools

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Repligen

Repligen Corporation is a global life sciences company that develops and commercializes highly innovative bioprocessing technologies and systems that enable efficiencies in the process of manufacturing biological drugs. We are “inspiring advances in bioprocessing” for the customers we serve; primarily biopharmaceutical drug developers and contract development and manufacturing organizations (CDMOs) worldwide. Our focus areas are Filtration and Fluid Management, Chromatography, Process Analytics and Proteins. Our corporate headquarters are located in Waltham, Massachusetts, and the majority of our manufacturing sites are in the U.S., with additional key sites in Estonia, Germany, Ireland, the Netherlands and Sweden. For more information about the Company see our website at www.repligen.com, and follow us on LinkedIn.

In its own words, from its 8-K, filed Jul 28, 2026.

Repligen against its Biological Products, (No Diagnostic Substances) peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +11%. Operating margin: -14.1% against the peers' median 35.8%.

CompanyQuarterRevenueY/YOp. margin
RGEN RepligenQ3 2026$209M+11%-14.1%
AMGN AmgenQ3 2026$10.4B+8%35.8%
GILD Gilead SciencesQ3 2026$8.3B+7%41.7%
BIIB BiogenQ3 2026$2.8B+11%-0.3%
MRNA ModernaQ3 2026$1.3B+29%9.9%
NBIX Neurocrine BiosciencesQ3 2026$1.1B+41%29.5%
EXEL ExelixisQ3 2026$659M+10%40.8%
HALO Halozyme TherapeuticsQ3 2026$493M+39%59.8%
MGTX MeiraGTx HoldingsQ2 2026$321M87×76.0%

Source: Repligen 10-Q on SEC EDGAR · CIK 730272 · Biological Products, (No Diagnostic Substances)

Guidance and outlook

Repligen Revenue: guidance against what was reportedRepligen Revenue: guidance against what was reportedguided rangereported (above / within / below)FY2024$634MFY2025$738MFY2026
Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Repligen: what its forward-looking statements are about (10-Q filed 2026-10-30)Repligen: what its forward-looking statements are about (10-Q filed 2026-10-30)Costs6Other3Financing2Deals1Buybacks & dividends1Capital spending1
14 statements; tone +0.14 (−1 all cautious, +1 all confident); 1 hedged.
Repligen: outlook statements against the filing beforeRepligen: outlook statements against the filing beforeConfident3Cautious1

13F: who owns RGEN and who is buying

Largest holders of RGEN (13F)Largest holders of RGEN (13F)Vanguard Group$818MBlackRock$735MFMR LLC$454MUnited Capital Financial Advisors…$381MVanguard Capital Management LLC$329MVanguard Portfolio Management LLC$316MMaverick Capital$271MState Street$246MPrice T Rowe Associates$239MMassachusetts Financial Services$221M
Funds' net buying of RGEN by quarter (13F)Funds' net buying of RGEN by quarter (13F)$43.5M2024-09−$173M2024-12$208M2025-03$60.6M2025-06$183M2025-09$257M2025-12$449M2026-03−$153M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on RGEN

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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