Acquisitions and foreign currency each contributed approximately 2 points to reported growth.
Adjusted EBITDA margin was 17.6%, flat year-over-year; adjusted net income was $21 million, down $1 million year-over-year.
Adjusted fully diluted EPS was $0.37, down 6% year-over-year, impacted by last year's high-margin COVID business.
Adjusted income from operations was $22 million, up 8% year-over-year, with adjusted operating margin at 12%, down 80 basis points due to COVID and mix headwinds.
Cash position at quarter end was $709 million, up $12 million sequentially, driven by cash flow from operations.
Geographically, North America represented 49% of revenue, Europe 38%, and Asia Pacific and rest of world 13%, with all regions growing mid-teens.
Gross margin was 51.1%, flat year-over-year, with a 3-point mix headwind due to higher resin procurement for OPUS columns.
Repligen reported Q2 2025 revenue of $182 million, a 15% reported increase, 11% organic growth, and 17% organic non-COVID growth.
For the first half of 2025, Practice Collections grew 15.7% to $1.66 billion, Care Margin increased 13.2%, and Adjusted EBITDA grew 33.3% to $55.9 million.
Implemented Providers grew 13.8% year-over-year to 5,125, and value-based lives attribution increased 15.2%.
Medicaid attributed lives grew over 31% year-over-year, with no downside risk taken on these contracts, focusing on upside shared savings.
Privia Health reported strong financial results for Q2 2025, with Practice Collections increasing 18.5% year-over-year to $862.9 million and Adjusted EBITDA rising 31.6% to $29 million, representing 25.2% of Care Margin, a 310 basis point improvement.
The company ended Q2 with over $390 million in cash and no debt, after deploying $95 million for the IMS acquisition in Arizona.
Dafinchi