Company: RPID
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001380106-25-000058
Chunk: 117

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 117
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-term obligations.

In June 2021, we entered into a sublease agreement for office and back-up manufacturing space in Lexington, Massachusetts, which expires in June 2029. The sublease agreement includes an option to terminate the sublease in July 2026, subject to an early termination fee. Monthly rent payments are fixed and future minimum lease payments over the term of the sublease are $3.4 million as of December 31, 2024, including $0.7 million in short-term obligations. Concurrent with entering into the sublease agreement, we executed an option agreement with the property owner which provides us the option to enter into a new direct lease for the Lexington facility for an additional five years following expiration of the sublease.

For additional information on our contractual obligation and commitments please see Note 14 — Commitments and Contingencies to our consolidated financial statements.

Cash flows 

The following table summarizes our sources and uses of cash for each of the periods presented:

Year Ended December 31, 20242023Net cash used in operating activities$(44,153)$(45,081)Net cash provided by investing activities36,657 42,153 Net cash provided by financing activities203 149 Net decrease in cash and cash equivalents and restricted cash$(7,293)$(2,779)

Operating activities

During the year ended December 31, 2024, net cash used in operating activities was $44.2 million, a decrease of $0.9 million compared to the prior year. The decreased use of net cash was primarily a result of working capital and reduced headcount resulting in less employee related costs, such as travel, business insurance, etc. The timing of payments to vendors and cash collections from customers contributed to the reduction in net cash used in operating activities.

Investing activities

During the year ended December 31, 2024, net cash provided by investing activities was $36.7 million, a decrease of $5.5 million compared to the year ended December 31, 2023. The change was largely attributable to lower cash inflows 

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from maturities and sales of short-term investments (net of outflow for purchases), marginally offset by lower purchases of property and equipment.

Financing activities

During the year ended December 31, 2024, net cash provided by financing activities was $0.2 million, an increase of $0.1 million compared to the year ended December 31, 2023. In both periods