Company: RPID
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001380106-25-000102
Chunk: 287

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 287
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in thousands):Three Months Ended March 31,20252024Operating lease cost$305 $305 Financing lease cost - amortization of right-of-use asset9 12 Financing lease cost - interest on lease liability12 9 Variable lease cost203 205 Total lease cost$529 $531 Operating lease cost is recognized on a straight-line basis over the lease term. Total rent expense, including the Company’s share of the lessors’ operating expenses, was $0.5 million for each of the three months ended March 31, 2025 and 2024. Financing lease cost includes asset amortization on a straight-line basis over the lease term and interest accretion calculated using the effective interest method. Total financing lease asset depreciation and interest expense was less than $0.1 million for each of the three months ended March 31, 2025 and 2024.Maturities of the Company’s operating lease liabilities as of March 31, 2025 were as follows (in thousands):Operating Lease Maturities2025 (excluding the three months ended March 31)$1,028 20261,401 20271,435 20281,469 2029804 Total lease payments$6,137 Less imputed interest(472)Total present value of lease liabilities$5,665 Maturities of the Company’s financing lease liability as of March 31, 2025 were as follows (in thousands):Financing Lease Maturities2025 (excluding the three months ended March 31)$56 202675 202775 202875 202939 Total lease payments$320 Less imputed interest(109)Total present value of lease liabilities$211 

14. Commitments and contingencies

Supplier agreementsIn the ordinary course of business, the Company has and may in the future enter into agreements with suppliers  that may require the Company to purchase or pay minimum or fixed amounts over the duration of the agreement.  The Company currently has minimum purchase commitments of $1.1 million, $1.8 million, and $1.6 million expected to be incurred for the remainder of 2025, 2026, and 2027, respectively, under such agreements.  These commitments are accrued 

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as a liability when it is probable that a related future expenditure will be made, and such expenditure can be reasonably estimated.  Indemnification agreementsIn the ordinary