What Repligen Corporation told the SEC could break it.

39.5% of Repligen's fiscal 2025 revenue was denominated in foreign currencies — chiefly the Euro, South Korean Won and Japanese Yen — exposing results to currency swings versus the U.S. dollar.

“For the fiscal year ended December 31, 2025, 39.5% of our revenues were denominated in foreign currencies with the primary foreign currency exposures being the Euro, South Korean Won and Japanese Yen.”

All of Repligen's native and recombinant Protein A ligands (a critical chromatography input for biopharma) plus growth-factor products are manufactured at a single site in Lund, Sweden, concentrating supply of those products in one facility.

“The protein products we provide are manufactured at our sites in Waltham, Massachusetts and Lund, Sweden. Native Protein A ligands and our growth factor products are manufactured in Lund, while recombinant Protein A ligands are manufactured in Lund.”

Repligen depends on a limited number of suppliers — and for certain products a single supplier — of materials, with no immediate alternatives, creating supply-interruption risk for those product lines.

“We rely on a limited number of suppliers or, for certain of our products, one supplier, and we may not be able to find replacements or immediately transition to alternative suppliers, which could have a material adverse effect on our financial condition, results of operations and reputation. There are only a limited number of suppliers of materials for certain of our products.”