Company: RPID
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001380106-25-000102
Chunk: 283

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 283
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2025 and 2024:Three Months Ended March 31,20252024Risk-free interest rate4.5 %5.4 %Expected term (in years)0.50.5Expected volatility44.9 %49.4 %Expected dividend yield0 %0 %

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Table of Contents

Stock-based compensationStock-based compensation expense was classified in the condensed consolidated statements of operations as follows (in thousands):Three Months Ended March 31,20252024Cost of revenue$92 $147 Research and development140 129 Sales and marketing90 105 General and administrative720 704 Total stock-based compensation expense$1,042 $1,085 As of March 31, 2025, total unrecognized compensation expense related to unvested stock options held by employees and directors was $3.0 million, which is expected to be recognized over a weighted average period of 1.1 years. Additionally, unrecognized compensation expense related to unvested restricted stock units held by employees and directors was $4.5 million, which is expected to be recognized over a weighted average period of 1.3 years.

11. Income taxes

During both the three months ended March 31, 2025 and 2024, the pretax losses incurred by the Company, as well as the research and development tax credits generated, received no corresponding tax benefit because the Company concluded that it is more likely than not that the Company will be unable to realize the value of any resulting deferred tax assets. The Company will continue to assess its position in future periods to determine if it is appropriate to reduce a portion of its valuation allowance.The Company’s tax provision and the resulting effective tax rate for interim periods is determined based upon its estimated annual effective tax rate, adjusted for the effect of discrete items arising in that quarter. The income tax provision was generated from operations in Germany and Switzerland.The impact of such discrete items could result in a higher or lower effective tax rate during a particular quarter, based upon the mix and timing of actual earnings or losses versus annual projections. In each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual tax rate changes, a cumulative adjustment is made in that quarter.The Company has evaluated the positive and negative evidence bearing upon its ability to realize its deferred tax assets, which primarily consist of net operating loss carryforwards. The Company has considered its history of cumulative net losses, estimated future taxable income and prudent and feasible tax planning strategies