Company: RPID
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001380106-25-000174
Chunk: 224

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 224
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2021 ESPP at the grant date for both the six months ended June 30, 2025 and 2024:Six Months Ended June 30,20252024Risk-free interest rate4.3 %5.4 %Expected term (in years)0.50.5Expected volatility51.5 %49.4 %Expected dividend yield0 %0 %Stock-based compensationStock-based compensation expense was classified in the condensed consolidated statements of operations as follows (in thousands):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Cost of revenue$120 $148 $213 $295 Research and development50 142 190 272 Sales and marketing111 123 200 227 General and administrative937 758 1,657 1,462 Total stock-based compensation expense$1,218 $1,171 $2,260 $2,256 As of June 30, 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 1.2 years. Additionally, unrecognized compensation expense related to unvested restricted stock units held by employees and directors was $6.2 million, which is expected to be recognized over a weighted average period of 1.5 years.

11. Income taxes

During both the six months ended June 30, 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