Company: RPID
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001380106-25-000174
Chunk: 20

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 2
Chunk 20
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 fixed and future minimum lease payments over the term of the sublease are $3.0 million as of June 30, 2025, 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 our Lexington, Massachusetts facility for an additional five years following expiration of the sublease.

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Cash flows

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

Six Months Ended June 30,20252024Net cash used in operating activities$(18,765)$(25,644)Net cash provided by investing activities20,025 38,332 Net cash provided by financing activities81 148 Net increase in cash and cash equivalents and restricted cash$1,341 $12,836 

Operating activities

During the six months ended June 30, 2025, net cash used in operating activities was $18.8 million, a decrease of $6.9 million compared to the six months ended June 30, 2024.  The lower use of net cash was primarily a result of lower personnel-related costs due to reduced headcount as well as the volume and timing of payments to vendors and increased customer cash receipts.  This decrease was partially offset by increased inventory purchases.

Investing activities

During the six months ended June 30, 2025, net cash provided by investing activities was $20.0 million, a decrease of $18.3 million compared to the six months ended June 30, 2024. Higher investment maturities in the prior-year period coupled with a decline in investment purchases contributed to the reduction in investing activities.  Additionally, cash expenditures for property and equipment were lower in the current-year period.

Financing activities

During the six months ended June 30, 2025, net cash provided by financing activities was $0.1 million, a decrease of $0.1 million compared to the six months ended June 30, 2024. The primary driver of this decrease was higher proceeds from stock option exercises, offset by tax withholding on the settlement of vested restricted stock units. 

Seasonality

Our revenues vary from quarter to quarter as a result of factors such as our customers’ budgetary cycles and extended summer vacation periods that can impact our ability to progress system sales processes, deliver products and provide onsite services to our customers during those periods.