Company: RPID
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001380106-25-000200
Chunk: 16

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 16
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 increase in the cumulative number of Growth Direct systems validated and under such contracts.

Costs and operating expenses

Costs of revenue

Cost of product revenue increased by $0.2 million, or 4.7%. The increase was driven by higher consumables sales volume, net of the impact of two fewer system placements.

Cost of service revenue decreased by $0.1 million, or 5.3%. The decrease was primarily attributable to lower service headcount and related costs due in part to productivity improvements.

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Research and development

Three Months Ended September 30,Change20252024Amount%(dollars in thousands)Research and development$3,529 $3,609 $(80)(2.2)%Percentage of total revenue45.0 %47.5 %

Research and development expenses decreased by $0.1 million, or 2.2%. This decrease was primarily driven by reduction in headcount and was partially offset by increase in engineering and development work related to new product development activities.

Sales and marketing

Three Months Ended September 30,Change20252024Amount%(dollars in thousands)Sales and marketing$2,895 $3,376 $(481)(14.2)%Percentage of total revenue36.9 %44.4 %

Sales and marketing expenses decreased by $0.5 million, or 14.2%. This decrease was primarily driven by lower headcount-related and third-party consulting costs. 

General and administrative

Three Months Ended September 30,Change20252024Amount%(dollars in thousands)General and administrative$5,644 $5,676 $(32)(0.6)%Percentage of total revenue72.0 %74.6 %

General and administrative expenses were essentially flat in the third quarter.  

Other income (expense)

Interest income

Interest income includes interest earned on our cash equivalents and investments.  The $0.4 million, or 55.5%, change in interest income was primarily due to the higher investment in the prior period.

Interest expense

             Interest expense includes interest incurred in connection with our long term debt. The $0.4 million, or 3,472.7%, due to interest incurred with our long term debt.

Other expense, net

Other expense, net, which is comprised of miscellaneous expenses unrelated to our core business, was flat for each of the three months ended September 30, 2025 and 2024.

Income tax expense 

Income tax expense was less than