Company: RPID
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001380106-25-000200
Chunk: 15

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 15
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 September 30, 2025 and 2024 and, therefore, have not recorded any U.S. federal or state income tax expense during those periods. However, we did record an immaterial amount of foreign income tax expense during each of those periods.

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Results of operations

Comparison of the three months ended September 30, 2025 and 2024

The following table summarizes our results of operations for the three months ended September 30, 2025 and 2024:

Three Months Ended September 30,Change20252024Amount%(in thousands)Revenue:Product revenue$5,214 $5,255 $(41)(0.8)%Service revenue2,624 2,349 275 11.7 %Total revenue7,838 7,604 234 3.1 %Costs and operating expenses:Cost of product revenue5,563 5,314 249 4.7 %Cost of service revenue1,579 1,668 (89)(5.3)%Research and development3,529 3,609 (80)(2.2)%Sales and marketing2,895 3,376 (481)(14.2)%General and administrative5,644 5,676 (32)(0.6)%Total costs and operating expenses19,210 19,643 (433)(2.2)%Loss from operations(11,372)(12,039)667 (5.5)%Other income (expense):Interest income347 779 (432)(55.5)%Interest expense(393)(11)(382)3,472.7 %Other expense, net(79)(39)(40)102.6 %Total other income (expense), net(125)729 (854)(117.1)%Loss before income taxes(11,497)(11,310)(187)1.7 %Income tax expense8 13 (5)(38.5)%Net loss$(11,505)$(11,323)$(182)1.6 %

Revenue

Product revenue decreased by less than $0.1 million, or 0.8%, with the decrease attributable to two fewer system placements offset by higher consumable volumes and higher software revenue.

Service revenue increased by $0.3 million, or 11.7%.  The increase in service revenue was primarily due to higher revenue related to validations as well as service contract revenue due to an