Latest news with #Repligen
Globe and Mail
22-05-2025
- Business
- Globe and Mail
Repligen Corporation to Present at William Blair Growth Conference
WALTHAM, Mass., May 22, 2025 (GLOBE NEWSWIRE) -- Repligen Corporation (NASDAQ:RGEN), a life sciences company focused on bioprocessing technology leadership, today announced that it will be participating at the William Blair 45 th Annual Growth Stock Conference being held June 3 – 5 in Chicago. Olivier Loeillot, President and Chief Executive Officer is scheduled to present a company overview on June 3 rd at 1:20 p.m. CT. A live webcast of the conference presentation will be accessible through Repligen's Investor Relations website at and will be available for replay for a limited period of time following the event. About Repligen Corporation 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, France, Germany, Ireland, the Netherlands and Sweden. For more information about the company see our website at and follow us on LinkedIn.
Yahoo
22-05-2025
- Business
- Yahoo
Repligen Corporation to Present at William Blair Growth Conference
WALTHAM, Mass., May 22, 2025 (GLOBE NEWSWIRE) -- Repligen Corporation (NASDAQ:RGEN), a life sciences company focused on bioprocessing technology leadership, today announced that it will be participating at the William Blair 45th Annual Growth Stock Conference being held June 3 – 5 in Chicago. Olivier Loeillot, President and Chief Executive Officer is scheduled to present a company overview on June 3rd at 1:20 p.m. CT. A live webcast of the conference presentation will be accessible through Repligen's Investor Relations website at and will be available for replay for a limited period of time following the event. About Repligen CorporationRepligen 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, France, Germany, Ireland, the Netherlands and Sweden. For more information about the company see our website at and follow us on LinkedIn. Repligen Contact: Jacob JohnsonVP, Investor Relations(781) 419-0204investors@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-04-2025
- Business
- Yahoo
RGEN Q1 Earnings Call: Repligen Delivers Above-Consensus Revenue, Raises Sales Outlook Amid Tariff Uncertainty
Biopharma manufacturing company Repligen Corporation (NASDAQ:RGEN) reported revenue ahead of Wall Street's expectations in Q1 CY2025, with sales up 10.4% year on year to $169.2 million. The company's full-year revenue guidance of $707.5 million at the midpoint came in 0.8% above analysts' estimates. Its non-GAAP profit of $0.39 per share was 11.4% above analysts' consensus estimates. Is now the time to buy RGEN? Find out in our full research report (it's free). Revenue: $169.2 million vs analyst estimates of $164.3 million (10.4% year-on-year growth, 3% beat) Adjusted EPS: $0.39 vs analyst estimates of $0.35 (11.4% beat) Adjusted EBITDA: $32.7 million vs analyst estimates of $28.78 million (19.3% margin, 13.6% beat) The company lifted its revenue guidance for the full year to $707.5 million at the midpoint from $697.5 million, a 1.4% increase Management lowered its full-year Adjusted EPS guidance to $1.67 at the midpoint, a 2.3% decrease Operating Margin: 3.9%, up from 2.4% in the same quarter last year Free Cash Flow Margin: 9.1%, down from 23.7% in the same quarter last year Organic Revenue rose 10.7% year on year (-12.9% in the same quarter last year) Market Capitalization: $7.83 billion Repligen's first quarter results were driven by double-digit organic revenue growth, with particular strength in proteins, chromatography, and analytics. Management attributed performance to broad-based demand from large pharma and contract manufacturers, robust order growth across product lines, and continued resilience in core bioprocessing markets. CEO Olivier Loeillot highlighted, 'Orders were up high teens year on year with all franchises growing double digits,' and noted the company's ability to secure new design wins in late-phase and commercial drugs as a significant tailwind. Looking forward, Repligen raised its annual revenue guidance while lowering non-GAAP earnings expectations, reflecting the inclusion of recent acquisitions and anticipated margin headwinds from tariffs and investment in operating expenses. While management believes tariff exposure is limited, CFO Jason Garland clarified, 'We believe that it's probably less than 1% sales increase that we would have from tariffs,' and outlined measures to mitigate further impacts. The company's emphasis on R&D, product launches, and a diversified customer base remain central to its growth strategy. Repligen's Q1 outperformance stemmed from strong demand in key franchises, broad-based order momentum, and recent product innovation. Management discussed how strategic execution and industry tailwinds contributed to results, while also addressing evolving trade and regulatory dynamics. Protein Franchise Growth: The protein business delivered the highest growth among all segments, driven by commercial demand and strong chromatography resin sales. Management noted that some timing benefits may not repeat in future quarters. Chromatography and Analytics Expansion: Both chromatography and analytics franchises saw double-digit growth, supported by increased adoption of large-scale columns and expansion into new customer segments, such as large pharmaceutical companies. Order Momentum Across End Markets: Orders rose by high teens year over year, with especially strong intake from contract development and manufacturing organizations (CDMOs), which saw order growth above 40%. The company noted no evidence of order pull-forward due to tariffs, suggesting underlying demand was robust. Tariff and Supply Chain Management: Management estimated limited tariff exposure, with most U.S. manufacturing insulated from duties. Steps to mitigate tariff risk include leveraging global manufacturing, pricing adjustments, and operational flexibility, particularly for European and Asian markets. Acquisition and Innovation Initiatives: Repligen closed the acquisition of 908 Devices' bioprocessing portfolio, accelerating process analytics offerings. Integration efforts are focused on R&D synergies and manufacturing optimization, with new product launches such as the Metanova-based MixOne mixer receiving positive customer feedback. Management's outlook centers on sustaining above-market growth through portfolio innovation, diversified end-markets, and operational discipline, while monitoring macroeconomic and regulatory risks. New Product Integration: The integration of 908 Devices' portfolio and continued R&D investment are expected to drive analytics segment growth and future product launches, broadening Repligen's addressable market. Customer and End-Market Diversification: The company's focus on expanding relationships with large pharma, CDMOs, and capturing commercial drug opportunities is expected to support resilient revenue streams even as small biotech end-markets remain challenged. Tariff and Margin Pressures: While management anticipates only modest gross margin headwinds from tariffs, ongoing inflation and potential trade volatility remain risks. The company's strategy of global manufacturing and pricing adjustments will be critical to sustaining profitability. Rachel Vatnsdal (JPMorgan): Asked if recent CDMO order strength reflected any pull-forward due to tariffs; management said there was no evidence of accelerated ordering, with growth broad-based across products and customers. Dan Arias (Stifel): Questioned the impact of FDA and regulatory changes on new modalities; management reported minimal disruption so far and maintained a positive long-term outlook for cell and gene therapy demand. Puneet Souda (Leerink Partners): Inquired about sustainability of growth between clinical and commercial segments; management explained that commercial revenue is steadily increasing, with a projected shift toward a 50/50 split over several years. Matt Larew (William Blair): Sought detail on small biotech customer trends; management acknowledged sales weakness and flat orders from this segment, citing declining biotech funding as a key concern. Justin Bowers (Deutsche Bank): Asked about the impact of large biopharma onshoring and CapEx; management expects these trends to benefit Repligen given its U.S. manufacturing base and strong customer relationships. In the coming quarters, the StockStory team will monitor (1) the pace of new product rollouts, especially analytics and single-use technologies, (2) order and sales trends among large pharma and contract manufacturers to gauge demand durability, and (3) the company's margin trajectory amid ongoing tariff and cost pressures. Execution on R&D integration and manufacturing optimization from recent acquisitions will also be key indicators of Repligen's ability to sustain above-market growth. Repligen currently trades at a forward P/E ratio of 74.7×. Should you double down or take your chips? The answer lies in our free research report. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 175% over the last five years. Stocks that made our list in 2019 include now familiar names such as Nvidia (+2,183% between December 2019 and December 2024) as well as under-the-radar businesses like Comfort Systems (+751% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
Yahoo
29-04-2025
- Business
- Yahoo
Repligen (NASDAQ:RGEN) Posts Better-Than-Expected Sales In Q1, Full-Year Outlook Slightly Exceeds Expectations
Biopharma manufacturing company Repligen Corporation (NASDAQ:RGEN) reported Q1 CY2025 results beating Wall Street's revenue expectations , with sales up 10.4% year on year to $169.2 million. The company's full-year revenue guidance of $707.5 million at the midpoint came in 1% above analysts' estimates. Its non-GAAP profit of $0.39 per share was 11.4% above analysts' consensus estimates. Is now the time to buy Repligen? Find out in our full research report. Revenue: $169.2 million vs analyst estimates of $164.3 million (10.4% year-on-year growth, 3% beat) Adjusted EPS: $0.39 vs analyst estimates of $0.35 (11.4% beat) Adjusted EBITDA: $25 million vs analyst estimates of $28.78 million (14.8% margin, 13.2% miss) The company lifted its revenue guidance for the full year to $707.5 million at the midpoint from $697.5 million, a 1.4% increase Management lowered its full-year Adjusted EPS guidance to $1.67 at the midpoint, a 2.3% decrease Operating Margin: 3.9%, up from 2.4% in the same quarter last year Organic Revenue rose 14% year on year (-12.9% in the same quarter last year) Market Capitalization: $8.07 billion Olivier Loeillot, President and Chief Executive Officer of Repligen said, 'We had a strong start to the year with $169 million of revenue, which represented 14% organic non-COVID growth and helped drive meaningful adjusted operating margin expansion. Total orders grew nearly 20%, with all four franchises growing double-digits, highlighting the momentum in our business. As a result, we are confident in our organic growth outlook for the full year. Strategically, we strengthened our Analytics franchise with the acquisition of 908's bioprocessing portfolio. Finally, we are working to navigate through the current economic environment and at this point in time, we see minimal impact from tariffs on our EPS.' With over 13 strategic acquisitions since 2012 to build its comprehensive bioprocessing portfolio, Repligen (NASDAQ:RGEN) develops and manufactures specialized technologies that improve the efficiency and flexibility of biological drug manufacturing processes. A company's long-term sales performance can indicate its overall quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Luckily, Repligen's sales grew at an impressive 17.9% compounded annual growth rate over the last five years. Its growth beat the average healthcare company and shows its offerings resonate with customers. Long-term growth is the most important, but within healthcare, a half-decade historical view may miss new innovations or demand cycles. Repligen's recent performance marks a sharp pivot from its five-year trend as its revenue has shown annualized declines of 7.5% over the last two years. Repligen also reports organic revenue, which strips out one-time events like acquisitions and currency fluctuations that don't accurately reflect its fundamentals. Over the last two years, Repligen's organic revenue averaged 7.5% year-on-year declines. Because this number aligns with its normal revenue growth, we can see the company's core operations (not acquisitions and divestitures) drove most of its results. This quarter, Repligen reported year-on-year revenue growth of 10.4%, and its $169.2 million of revenue exceeded Wall Street's estimates by 3%. Looking ahead, sell-side analysts expect revenue to grow 11.8% over the next 12 months, an improvement versus the last two years. This projection is healthy and indicates its newer products and services will spur better top-line performance. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Adjusted operating margin is one of the best measures of profitability because it tells us how much money a company takes home after subtracting all core expenses, like marketing and R&D. It also removes various one-time costs to paint a better picture of normalized profits. Repligen has been an efficient company over the last five years. It was one of the more profitable businesses in the healthcare sector, boasting an average adjusted operating margin of 22.5%. Looking at the trend in its profitability, Repligen's adjusted operating margin decreased by 14.8 percentage points over the last five years. The company's two-year trajectory also shows it failed to get its profitability back to the peak as its margin fell by 10.7 percentage points. This performance was poor no matter how you look at it - it shows its expenses were rising and it couldn't pass those costs onto its customers. In Q1, Repligen generated an adjusted operating profit margin of 13.8%, up 4.9 percentage points year on year. This increase was a welcome development and shows it was more efficient. Revenue trends explain a company's historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions. Repligen's EPS grew at a solid 8.4% compounded annual growth rate over the last five years. However, this performance was lower than its 17.9% annualized revenue growth, telling us the company became less profitable on a per-share basis as it expanded. We can take a deeper look into Repligen's earnings to better understand the drivers of its performance. As we mentioned earlier, Repligen's adjusted operating margin improved this quarter but declined by 14.8 percentage points over the last five years. Its share count also grew by 6.5%, meaning the company not only became less efficient with its operating expenses but also diluted its shareholders. In Q1, Repligen reported EPS at $0.39, up from $0.30 in the same quarter last year. This print easily cleared analysts' estimates, and shareholders should be content with the results. Over the next 12 months, Wall Street expects Repligen's full-year EPS of $1.66 to grow 10.9%. We were impressed by how significantly Repligen blew past analysts' organic revenue and EPS expectations this quarter. We were also glad it raised its full-year revenue guidance. On the other hand, its EBITDA missed and it lowered its full-year guidance. Overall, this quarter was mixed but still had some key positives. The stock remained flat at $143.63 immediately after reporting. Is Repligen an attractive investment opportunity at the current price? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
Associated Press
29-04-2025
- Business
- Associated Press
Repligen Reports First Quarter 2025 Financial Results
WALTHAM, Mass., April 29, 2025 (GLOBE NEWSWIRE) -- Repligen Corporation (NASDAQ:RGEN), a life sciences company focused on bioprocessing technology leadership, today reported financial results for its first quarter of 2025, covering the three-month period ended March 31, 2025. The company is also providing updated financial guidance for the full year 2025. Olivier Loeillot, President and Chief Executive Officer of Repligen said, 'We had a strong start to the year with $169 million of revenue, which represented 14% organic non-COVID growth and helped drive meaningful adjusted operating margin expansion. Total orders grew nearly 20%, with all four franchises growing double-digits, highlighting the momentum in our business. As a result, we are confident in our organic growth outlook for the full year. Strategically, we strengthened our Analytics franchise with the acquisition of 908's bioprocessing portfolio. Finally, we are working to navigate through the current economic environment and at this point in time, we see minimal impact from tariffs on our EPS.' Q1 2025 BUSINESS HIGHLIGHTS FINANCIAL PERFORMANCE Q1 2025 financial performance (compared to prior year periods except as noted). All adjusted figures are non-GAAP and, except for earnings per share, are rounded to the nearest million, and are reconciled in the tables included later in this press release. MARGIN SUMMARY Cash and cash equivalents at March 31, 2025, were $697 million, compared to $757 million at December 31, 2024. FINANCIAL GUIDANCE FOR FISCAL YEAR 2025 Our financial guidance for the fiscal year 2025 is based on expectations for our existing business. Our GAAP and Adjusted (non-GAAP) guidance excludes the impact of any potential business acquisitions in 2025, tariffs, and future fluctuations in foreign currency exchange rates. Updated guidance incorporates the impact of the acquisition of 908 Devices' Bioprocessing Analytics business including: a revenue increase of $10 million, a $4 million reduction in income from operations and the associated impact on operating margin, adjusted EBITDA margin, net income and earnings per share, diluted. Additionally, there is a 100-basis point increase in gross margin versus our prior guidance. This primarily relates to a shift in costs to operating expenses from cost of goods sold, where they previously were assumed in our prior guidance. There is no impact on operating income associated with this change. Conference Call and Webcast Access Repligen will host a conference call and webcast today, April 29, 2025, at 8:30 a.m. ET, to discuss first quarter 2025 financial results, corporate developments and financial guidance for the year 2025. The conference call will be accessible by dialing toll-free (844) 274-3999 for domestic callers or (412) 317-5607 for international callers. No passcode is required for the live call. In addition, a webcast will be accessible via the Investor Relations section of the Company's website. Both the conference call and webcast will be archived for a period of time following the live event. The replay dial-in numbers are (877) 344-7529 from the U.S., (855) 669-9658 from Canada and (412) 317-0088 for international callers. Replay listeners must provide the passcode 6386085. About Repligen Corporation 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, France, Germany, Ireland, the Netherlands and Sweden. For more information about the company see our website at and follow us on LinkedIn. Non-GAAP Measures of Financial Performance To supplement our financial statements, which are presented on the basis of U.S. generally accepted accounting principles (GAAP), the following Adjusted (non-GAAP) measures of financial performance are included in this release: organic non-COVID revenue and non-COVID revenue growth; organic revenue and organic revenue growth; adjusted cost of goods sold, adjusted gross profit and adjusted gross margin; adjusted R&D expense and adjusted SG&A expense; adjusted income from operations and adjusted operating margin; adjusted pre-tax income; adjusted net income; adjusted earnings per share (diluted); adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), and adjusted EBITDA margin. The Company provides the impact of foreign currency translation, to enable determination of revenue growth rates at constant currency. To calculate the impact of foreign currency translation, the Company converts actual net sales from local currency to U.S. dollars using constant foreign currency exchange rates in the current and prior year periods. The Company's non-GAAP financial results and/or non-GAAP guidance exclude the impact of: acquisition and integration costs; restructuring charges including the costs of severance and accelerated depreciation among other charges; incremental costs attributed to CEO transition; contingent consideration related to the Company's acquisitions; intangible amortization costs; non-cash interest expense related to the accretion of the debt discount; amortization of debt issuance costs related to Company's convertible debt; foreign currency impact of certain intercompany loans; and, the related impact on tax of non-GAAP charges. These costs are excluded because management believes that such expenses do not have a direct correlation to future business operations, nor do the resulting charges recorded accurately reflect the performance of our ongoing operations for the period in which such charges are recorded. NOTE: All reconciliations of above GAAP figures (reported or guidance) to adjusted (non-GAAP) figures are detailed in the tables included later in this press release. When analyzing the Company's operating performance and guidance, investors should not consider non-GAAP measures as a substitute for the comparable financial measures prepared in accordance with GAAP. Forward-Looking Statements This press release contains forward-looking statements, which are made pursuant to and in reliance upon the safe harbor provisions of federal securities laws, including the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements contained herein which do not describe historical facts, including, among others, any express or implied statements or guidance regarding current or future financial performance and position, including our 2025 financial guidance and related assumptions; expected demand in the markets in which we operate; expectations regarding the acquisition of 908 Devices' bioprocessing portfolio; and the expected performance of our business and momentum across our portfolio, are based on management's current expectations and beliefs and are forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. Such risks and uncertainties include, among others, our ability to successfully grow our bioprocessing business; our ability to manage through and predict headwinds; the risk that we have assumed that markets and franchises will improve and grow more than expected; our ability to achieve our 2025 financial guidance; our ability to develop and commercialize products and the market acceptance of our products; our ability to successfully integrate any acquired businesses and relevant personnel in a timely manner or at all, and to achieve the expected benefits of such acquisitions; that demand for our products could decline, which could adversely impact our future revenues, cash flows, results of operations and financial condition; our ability to compete with larger, better financed bioprocessing companies; risks around the Company's effectiveness of disclosure controls and procedures and the effectiveness of our internal control over financial reporting; our compliance with all U.S. Food and Drug Administration and European Medicines Evaluation Agency regulations; our volatile stock price; the impact of tariffs on our business, and other risks and uncertainties detailed in Repligen's filings with the U.S. Securities and Exchange Commission (the Commission), including our Annual Report on Form 10-K for the year ended December 31, 2024 and in subsequently filed reports with the Commission, including our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and any subsequent filings made with the Commission, which are available at the Commission's website at Actual results may differ materially from those Repligen contemplated by these forward-looking statements, which reflect management's current views, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions, and are based only on information currently available to us. Repligen cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Repligen disclaims any obligation to update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Repligen Contact: Jacob Johnson VP, Investor Relations (781) 419-0204 [email protected] REPLIGEN CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, amounts in thousands, except share and per share data) REPLIGEN CORPORATION RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES (Unaudited, amounts in thousands, except percentage and earnings per share data) In all tables below, totals may not add due to rounding Reconciliation of Total Revenue (GAAP) Growth to Organic Non-COVID Revenue Growth (Non-GAAP) Reconciliation of Income from Operations (GAAP) to Adjusted Income from Operations (Non-GAAP) Reconciliation of Net Income (GAAP) to Adjusted Net Income (Non-GAAP) Reconciliation of Earnings Per Share (GAAP) to Adjusted Earnings Per Share (Non-GAAP) Reconciliation of Net Income (GAAP) to Adjusted EBITDA (Non-GAAP) Reconciliation of Cost of Goods Sold (GAAP) to Adjusted Cost Goods Sold (Non-GAAP) Reconciliation of R&D Expense (GAAP) to Adjusted R&D Expense (Non-GAAP) Reconciliation of SG&A Expense (GAAP) to Adjusted SG&A Expense (Non-GAAP) Reconciliation of Net (Loss) Income (GAAP) Guidance to Adjusted Net Income (Non-GAAP) Guidance Reconciliation of Earnings Per Share (GAAP) Guidance to Adjusted Earnings Per Share (Non-GAAP) Guidance FOOTNOTES FOR ALL TABLES ABOVE (amounts in thousands): (1) In July 2023, we began restructuring activities to simplify and streamline our organization and strengthen the overall effectiveness of our operations. The Company continued further restructuring activities during the three months ended March 31, 2025 including severance, employee-related and facility exit costs. Cost of goods sold includes the benefit received from the sale of inventory that had previously been reserved as part of the restructuring plan of $885 and $2,007 for the three months ended March 31, 2025 and 2024, respectively. (2) Includes one-time events relating to a cybersecurity incident, net of insurance, and costs associated with the restatement of previously issued financial statements. (3) During the first quarter of 2024 we recorded foreign currency losses on certain intercompany loans of $3,787. The impact was recorded to the Other expenses, net line item within the Condensed Consolidated Statements of Operations. (4) Includes amortization of milestone payments in accordance with GAAP of $28 for the three months ended March 31, 2025 and 2024. (5) Excludes $19 of accelerated depreciation related to the restructuring plan for the three months ended March 31, 2024. This amount is included in the depreciation line item of this table.
