Company: RPID
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001380106-25-000200
Chunk: 17

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 17
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 $0.1 million for each of the three months ended September 30, 2025 and 2024. The expense in each period was attributable to income tax provisions related to our foreign subsidiaries.

45

Comparison of the nine months ended September 30, 2025 and 2024

The following table summarizes our results of operations for the nine months ended September 30, 2025 and 2024:

Nine Months Ended September 30,Change20252024Amount%(dollars in thousands)Revenue:Product revenue$14,117 $13,505 $612 4.5 %Service revenue8,188 6,328 1,860 29.4 %Total revenue22,305 19,833 2,472 12.5 %Costs and operating expenses:Cost of product revenue15,907 15,404 503 3.3 %Cost of service revenue5,023 5,519 (496)(9.0)%Research and development10,383 11,195 (812)(7.3)%Sales and marketing8,760 10,284 (1,524)(14.8)%General and administrative17,413 17,121 292 1.7 %Total costs and operating expenses57,486 59,523 (2,037)(3.4)%Loss from operations(35,181)(39,690)4,509 (11.4)%Other income (expense):Interest income1,188 2,617 (1,429)(54.6)%Interest expense(417)(28)(389)1389.3 %Other expense, net(190)(91)(99)108.8 %Total other income (expense), net581 2,498 (1,917)(76.7)%Loss before income taxes(34,600)(37,192)2,592 (7.0)%Income tax expense26 31 (5)(16.1)%Net loss$(34,626)$(37,223)$2,597 (7.0)%

Revenue

Product revenue increased by $0.6 million, or 4.5%. The increase was driven primarily by a higher volume of consumables as well as an increase in the average selling price of our systems.  Higher system-related revenue, particularly from software sales, also contributed to the increase. The increase from these factors was partially offset by