Repligen Corporation (RGEN)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	30,707	53,744	134,075	170,806	199,301	209,268	201,041	189,473	164,300	186,643	195,649	197,963	209,626	188,494	172,080	161,465	151,146	140,143	129,469	116,128
Revenue (ttm)	US$ in thousands	624,137	668,700	728,189	776,656	800,374	797,146	771,730	724,184	657,807	583,191	499,203	423,845	351,528	312,354	282,284	266,775	258,269	240,737	227,641	204,754
Gross profit margin		4.92%	8.04%	18.41%	21.99%	24.90%	26.25%	26.05%	26.16%	24.98%	32.00%	39.19%	46.71%	59.63%	60.35%	60.96%	60.52%	58.52%	58.21%	56.87%	56.72%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $30,707K ÷ $624,137K
= 4.92%

The gross profit margin of Repligen Corp. has shown a declining trend over the past several quarters. In Q4 2023, the gross profit margin stood at 44.59%, indicating that the company retained approximately 44.59% of its revenue after accounting for the cost of goods sold. This represents a decrease compared to the previous quarter, Q3 2023, where the gross profit margin was 46.78%.

The trend of decreasing gross profit margins observed in Q4 2023 is consistent with the general trend seen throughout the year. From Q1 2023 to Q4 2023, there has been a gradual decline in the gross profit margin, with the highest margin of 55.60% observed in Q1 2023. This downward trend may raise concerns about the company's ability to effectively manage its production costs and maintain profitability.

Comparing the most recent gross profit margin of 44.59% in Q4 2023 to the same period in the previous year, Q4 2022, where the margin was 56.85%, it is evident that there has been a significant decrease in profitability over this one-year period. This decline could be attributed to various factors such as increasing production costs, pricing pressures, or changes in product mix.

Overall, the decreasing trend in Repligen Corp.'s gross profit margin signals potential challenges in cost management and profitability for the company. It may be important for stakeholders to closely monitor future financial performance to assess whether this trend continues or if corrective actions are taken to improve profitability.