Repligen (RGEN) · Q1 2026 results and valuation

At −2.7% growth a year (3-year revenue growth), the model's fair value is $22.00 a share — the stock trades 684% above it. Today's price assumes 29.9% growth a year.

1. Guidance ↑

   RGEN raised its adjusted income guidance due to strong Q1 performance, the sale of Polymem, and judicious management of OpEx.

   Source quote

   “With the strong Q1 performance, the sale of Polymem and judicious management of OpEx, we are raising our adjusted income guidance.”

2. Guidance

   Following the sale of Polymem, the company now expects filtration growth to be roughly mid-single digits in 2026 on a reported basis.

   Source quote

   “With the sale of Polymem, we now expect filtration growth to be roughly mid-single digits in 2026 on a reported basis.”

3. Last period

   Asia Pacific grew high teens and EMEA grew more than 20% due to growth in Chromatography and Analytics, which matters as these regions are key growth drivers.

   Source quote

   “Asia Pacific grew high teens, driven by Chromatography and Analytics. EMEA grew more than 20%, driven by Proteins, Chromatography and Analytics. China grew for the second straight quarter, albeit off a low base.”

Management sounded noticeably less positive answering analysts than in its prepared script — a bigger drop than in 87% of calls. Scripts are polished in advance; a drop under questioning often marks the topics analysts pressed on, so the answers deserve a closer read than the script.

Sentences that drove the tone

“Consumables, including protein, grew double digit which was coupled with solid capital equipment growth and services remained a standout with 30% plus growth.”

“As we look ahead to the next several years, we see a number of opportunities across our portfolio that position us for robust growth and allow us to continue to...”

“In addition, we made tangible progress on our strategic priorities, which positions us well to drive robust growth and margin expansion in coming years.”