Company: RPID
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001380106-25-000102
Chunk: 325

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 325
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 agreement that has an initial term of approximately 8 years. The furniture financing lease agreement is immaterial to the Company's condensed consolidated financial statements. Some leases include one or more options to renew, generally at the Company's sole discretion, with renewal terms that can extend the lease term by up to 5 years. In addition, certain leases contain termination options, where the rights to terminate are held by either the Company, the lessor, or both parties. Options to extend a lease are included in the lease term when it is reasonably certain that the Company will exercise the option. Options to terminate a lease are excluded from the lease term when it is reasonably certain that the Company will not exercise the option. The Company’s leases generally do not contain any material restrictive covenants or residual value guarantees.Supplemental cash flow information related to leases is as follows (in thousands):Three Months Ended March 31,20252024Cash paid for amounts included in measurement of lease liabilities:Operating cash outflows - payments on operating leases$340 $331 Operating cash outflows - payments on financing leases$12 $9 Financing cash outflows - payments on financing leases$7 $10 Supplemental balance sheet information related to the Company’s operating and financing leases is as follows (in thousands):March 31, 2025December 31, 2024Operating Leases:Operating lease assets$4,747 $4,998 Operating lease liabilities, short-term$1,186 $1,167 Operating lease liabilities, long-term4,479 4,784 Total operating lease liabilities$5,665 $5,951 Financing Leases:Office furniture and fixtures$386 $386 Accumulated depreciation(230)(221)Net property, plant and equipment$156 $165 Lease liabilities, short-term$49 $47 Lease liabilities, long-term162 170 Total financing lease liabilities$211 $217 Weighted-average remaining lease term - operating leases (in years):4.294.54Weighted-average remaining lease term - financing leases (in years):4.254.50Weighted-average discount rate - operating leases:3.8 %3.8 %Weighted-average discount rate - financing leases:12.0 %12.0 %

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The components of lease expense were as follows (in thousands):Three Months Ended March 31,20252024Operating lease cost