Company: RPID
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001380106-25-000102
Chunk: 342

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 342
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 payments over the term of the sublease are $3.3 million as of March 31, 2025, including $0.7 million in short-term obligations. Concurrent with entering into the sublease agreement, we executed an option agreement with the property owner which provides us the option to enter into a new direct lease for our Lexington, Massachusetts facility for an additional five years following expiration of the sublease.

Cash flows

The following table summarizes our sources and uses of cash for each of the periods presented (in thousands):

Three Months Ended March 31,20252024Net cash used in operating activities$(9,065)$(15,525)Net cash provided by investing activities10,681 13,515 Net cash provided by financing activities379 158 Net increase (decrease) in cash and cash equivalents and restricted cash$1,995 $(1,852)

Operating activities

During the three months ended March 31, 2025, net cash used in operating activities was $9.1 million, a decrease of $6.5 million compared to the three months ended March 31, 2024.  The lower use of net cash was primarily a result of lower personnel-related costs due to reduced headcount, as well as the volume and timing of payments to vendors and increased customer cash receipts.  This decrease was offset by increased inventory purchases and the timing of recognition of product and service revenue initially included in deferred revenue.

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Investing activities

During the three months ended March 31, 2025, net cash provided by investing activities was $10.7 million, a decrease of $2.8 million compared to the three months ended March 31, 2024. Higher investment maturities in the prior-year period were offset by no investment purchases and a reduction in cash used to purchase property and equipment in the current-year period. 

Financing activities

During the three months ended March 31, 2025, net cash provided by financing activities was $0.4 million, an increase of $0.2 million compared to the three months ended March 31, 2024. Higher proceeds from stock option exercises was the primary driver of this increase. 

Seasonality

Our revenues vary from quarter to quarter as a result of factors such as our customers’ budgetary cycles and extended summer vacation periods that can impact our ability to progress system sales processes, deliver products and provide onsite services to our customers during those periods. We expect this variability