Company: RPID
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001380106-25-000200
Chunk: 234

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 234
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 2025December 31, 2024Operating Leases:Operating lease assets$4,239 $4,998 Operating lease liabilities, short-term$1,226 $1,167 Operating lease liabilities, long-term3,857 4,784 Total operating lease liabilities$5,083 $5,951 Financing Leases:Office furniture and fixtures$386 $386 Accumulated depreciation(248)(221)Net property, plant and equipment$138 $165 Lease liabilities, short-term$52 $47 Lease liabilities, long-term144 170 Total financing lease liabilities$196 $217 Weighted-average remaining lease term - operating leases (in years):3.794.54Weighted-average remaining lease term - financing leases (in years):3.754.50Weighted-average discount rate - operating leases:3.8 %3.8 %Weighted-average discount rate - financing leases:12.0 %12.0 %The components of lease expense were as follows (in thousands):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Operating lease cost$305 $305 $914 $914 Financing lease cost - amortization of right-of-use asset9 11 28 36 Financing lease cost - interest on lease liability11 10 34 27 Variable lease cost205 234 614 675 Total lease cost$530 $560 $1,590 $1,652 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 September 30, 2025 and 2024, and was $1.6 million for the nine months ended September 30, 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 and nine months ended September 30, 2025 and 2024.

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Maturities of the Company’s operating lease liabilities as of September 30, 2025 were as follows (in thousands):Operating Lease Maturities2025 (excluding