Repligen (RGEN) reported organic revenue growth of 13% in the second quarter of 2026, management said Wednesday at the Wells Fargo 21st Annual Healthcare Conference, pushing the bioprocessing company’s full-year outlook higher.
Chief Executive Officer Olivier Loeillot noted the underlying figure was closer to 14% before the effect of tariff refunds, calling it "a great quarter." For the first half of 2026, organic growth came in at 12%. Management raised its full-year organic growth guidance to a range of 10.5% to 13.5%, with a midpoint of 12%. Adjusted for headwinds, underlying growth ran approximately 16%, while last twelve months revenue growth posted 16.5%.
Each of Repligen’s three major franchises posted notable expansion. Protein A resin grew more than 50% in the quarter, driven by sustained demand for biologic manufacturing inputs. Process Analytics surged more than 30%, following 2025 growth above 20%; the company now guides for a 25% midpoint for the full year. Filtration grew at a mid-single-digit pace, down from high single digits a year earlier. Geographic growth was led by China and APAC, which expanded 40% in Q2 and 60% over the first half of the year.
Reported growth was clipped by roughly 400 basis points in discrete headwinds: approximately two percentage points from a gene therapy program, nearly two points from two alternating tangential flow (ATF) customer issues in the filtration segment, about one point from tariff refunds, and another point from the divestiture of Polymem.
Q2 EBITDA margin expanded 380 basis points. Repligen reiterated a long-term target of reaching 30% EBITDA margins by 2030. Gross profit margin stood at 53.84%, and the current ratio was 9.05. The stock rose nearly 32% over the preceding six months and 42% over the past year, closing at $165.18.
Management highlighted accelerating adoption of its Process Analytical Technology (PAT), which jumped to 80% of systems sold over a recent three-month period, up from 20% to 25% previously. Capital equipment recovery taps were described as only about 5% opened, with 5% to 10% of the total opportunity having been realized. Loeillot said Repligen aims to outpace market growth by five percentage points, with the ability to offset weakness in one area through strength elsewhere.
Also on deck was Repligen’s pending acquisition of BioLife Solutions. The company stated the target is designed into 18 commercial cell therapy drugs and is present in more than 80% of Phase II and Phase III drugs, with cell therapy accounting for roughly 25% of the pharma and biopharma pipeline. Repligen targets $1 billion in combined revenue by 2027 and has identified $20 million in year-one synergies — $15 million from operating expenses, including public company, leadership and CEO costs, and $5 million from cost of goods sold through yield and bag manufacturing efficiencies.
CFO Jason Garland said most of the synergy savings are on the OpEx side and noted the BioLife CEO intends to remain with the company post-close.
