Company: RPID
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001380106-25-000174
Chunk: 10

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 2
Chunk 10
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 validated are not reduced to reflect these reacquired systems.  

The number of validated Growth Direct systems and rate of growth varies from period-to-period due to factors including, but not limited to, Growth Direct system placement volume and timing, whether customers have previously validated Growth Direct systems within their site or global network, access to customer sites, customer site readiness, availability of required customer personnel and the time to install and validate each individual system. As a result, we expect to experience continued fluctuations in our period-to-period number of Growth Direct systems validated due to the aforementioned factors.

Recurring revenue

We regularly assess trends relating to our recurring revenue, which is the revenue from consumables and service contracts, based on our product offerings, our customer base and our understanding of how our customers use our products. Recurring revenue was 60.9% and 58.1% of our total revenue for the three months ended June 30, 2025 and 2024, respectively. Recurring revenue was 58.0% and 62.0% for the six months ended June 30, 2025 and 2024, respectively. Our 

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recurring revenue as a percentage of the total product and service revenue will generally vary based upon the number of Growth Direct systems placed and the cumulative number of validated systems in the period, as well as other variables such as the volume of tests being conducted and the test application(s) being used on customers' Growth Direct systems.

Components of results of operations

Revenue

We generate revenue from sales of our Growth Direct system (including our LIMS connection and RMBNucleus Mold Alarm software), consumables, validation services, service contracts, and field service. We have historically primarily sold our products and services through direct sales representatives. Our sales arrangements are noncancellable and nonrefundable after ownership passes to the customer.

Three Months Ended June 30, 2025Percentageof TotalRevenueThree Months EndedJune 30, 2024Percentageof TotalRevenue(in thousands)(in thousands)Product revenue$4,802 66.1 %$4,537 68.6 %Service revenue2,460 33.9 %2,081 31.4 %Total revenue$7,262 100.0 %$6,618 100.0 %

Six Months Ended June 30, 2025Percentageof totalrevenueSix Months EndedJune 30, 2024Percentageof totalrevenue(in thousands)(in thousands)