Company: RPID
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001380106-25-000200
Chunk: 254

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 254
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 income (expense):Interest income1,188 2,617 (1,429)(54.6)%Interest expense(417)(28)(389)1389.3 %Other expense, net(190)(91)(99)108.8 %Total other income (expense), net581 2,498 (1,917)(76.7)%Loss before income taxes(34,600)(37,192)2,592 (7.0)%Income tax expense26 31 (5)(16.1)%Net loss$(34,626)$(37,223)$2,597 (7.0)%

Revenue

Product revenue increased by $0.6 million, or 4.5%. The increase was driven primarily by a higher volume of consumables as well as an increase in the average selling price of our systems.  Higher system-related revenue, particularly from software sales, also contributed to the increase. The increase from these factors was partially offset by three fewer system placements during the nine months ended September 30, 2025 compared to the same period in 2024. 

Service revenue increased by $1.9 million, or 29.4%. The increase in service revenue was primarily driven by increases in revenue related to validations and installations (including higher one-time services unrelated to new system sales) as well as higher service contract revenue as a result of an increase in the cumulative number of Growth Direct systems validated and under such contracts.

Costs and operating expenses 

Costs of revenue

Cost of product revenue increased $0.5 million, or 3.3%. The increase was driven by higher consumables sales volume (net of the impact of three fewer system placements) as well as higher inventory reserves in the current-year period.

Cost of service revenue decreased by $0.5 million, or 9.0%. This decrease was primarily attributable to lower headcount and related costs due in part to productivity improvements.

46

Research and development

Nine Months EndedSeptember 30,Change20252024Amount%(dollars in thousands)Research and development$10,383 $11,195 $(812)(7.3)%Percentage of total revenue46.6 %56.4 %

Research and development expenses decreased by $0.8 million, or 7.3%. The decrease was primarily driven by lower headcount and headcount-related costs as well as the timing of spending related to new product development activities.

Sales and marketing

Nine Months Ended