Repligen's Q2 2025: Navigating Contradictions in Gene Therapy Revenue and Tariff Strategies

Gene therapy market exposure and revenue expectations, tariff impact on order book and market strategy, gene therapy market exposure and growth expectations, tariff impact on order book and market strategy, and ATF business growth and market penetration are the key contradictions discussed in Repligen's latest 2025Q2 earnings call.



Revenue and Growth Trends:
- Repligen Corporation reported second quarter 2025 revenue of $182 million, representing a 15% increase.
- The growth was driven by 17% organic non-COVID revenue growth across the portfolio, with notable contributions from Chromatography and Filtration segments.

Order and Funnel Growth:
- Orders grew over 20% year-over-year and high teens organically, marking the eighth consecutive quarter where orders exceeded non-COVID revenue.
- This trend reflects strong demand across Repligen's diversified portfolio and customer base.

Strategic Modality Demand:
- The company saw 10% growth in New Modality revenue, despite a slight slowdown in growth due to headwinds faced by specific platforms like gene therapy.
- There is continued interest in cell therapy and ADC, contributing to overall new modality demand.

Capital Equipment and Regional Performance:
- Capital equipment revenue returned to growth in the high teens, with orders exceeding 20%, driven by traction in both ATS and downstream systems.
- Geographically, all regions contributed to growth, with China's orders doubling sequentially and APAC orders nearly doubling.