Company: RPID
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001380106-25-000200
Chunk: 18

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 18
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 three fewer system placements during the nine months ended September 30, 2025 compared to the same period in 2024. 

Service revenue increased by $1.9 million, or 29.4%. The increase in service revenue was primarily driven by increases in revenue related to validations and installations (including higher one-time services unrelated to new system sales) as well as higher service contract revenue as a result of an 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 $0.5 million, or 3.3%. The increase was driven by higher consumables sales volume (net of the impact of three fewer system placements) as well as higher inventory reserves in the current-year period.

Cost of service revenue decreased by $0.5 million, or 9.0%. This decrease was primarily attributable to lower headcount and related costs due in part to productivity improvements.

46

Research and development

Nine Months EndedSeptember 30,Change20252024Amount%(dollars in thousands)Research and development$10,383 $11,195 $(812)(7.3)%Percentage of total revenue46.6 %56.4 %

Research and development expenses decreased by $0.8 million, or 7.3%. The decrease was primarily driven by lower headcount and headcount-related costs as well as the timing of spending related to new product development activities.

Sales and marketing

Nine Months EndedSeptember 30,Change20252024Amount%(dollars in thousands)Sales and marketing$8,760 $10,284 $(1,524)(14.8)%Percentage of total revenue39.3 %51.9 %

Sales and marketing expenses decreased by $1.5 million, or 14.8%. This decrease was primarily due to lower headcount-related and third-party consulting costs.  

General and administrative

Nine Months EndedSeptember 30,Change20252024Amount%(dollars in thousands)General and administrative$17,413 $17,121 $292 1.7 %Percentage of total revenue78.1 %86.3 %

General and administrative expenses increased by $0.3 million, or 1.7%. This increase was primarily attributable to higher non-cash stock compensation expense and legal fees, partially offset by a reduction in consulting fees and business insurance premiums.   

Other income (expense) 

Interest income 

Interest income,