Company: RPID
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001380106-25-000174
Chunk: 360

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 360
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 business, formulate financial projections and make strategic decisions. We believe that the following metrics are representative of our current business; however, we anticipate these may change or be substituted for additional or different metrics as our business grows and evolves.

Three Months Ended June 30,Change20252024Amount%(dollars in thousands)Systems placed:Systems placed in period45(1)(20.0)%Cumulative systems placed1691492013.4 %Systems validated:Systems validated in period25-3(60.0)%Cumulative systems validated1481291914.7 %Product and service revenue — total$7,262 $6,618 $644 9.7 %Product and service revenue — recurring$4,419 $3,844 $575 15.0 %

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Six Months Ended June 30,Change20252024Amount%(dollars in thousands)Systems placed:Systems placed in period78(1)(12.5)%Cumulative systems placed1691492013.4 %Systems validated:Systems validated in period118337.5 %Cumulative systems validated1481291914.7 %Product and service revenue — total$14,467 $12,229 $2,238 18.3 %Product and service revenue — recurring$8,388 $7,588 $800 10.5 %

Growth Direct system placements

We consider a Growth Direct system to be “placed” upon transfer of control of the system to the customer, at which point the revenue for that system is recognized. We regularly review the number of Growth Direct systems placed and cumulative Growth Direct system placements in each period as a leading indicator of our business performance. Our revenue has historically been driven by, and in the future will continue to be impacted by, the rate of Growth Direct system placements as a reflection of our success selling and delivering our products. We expect our Growth Direct system placements to continue to grow over time as we increase penetration in our existing markets and expand into new markets.

The number of Growth Direct system placements and rate of growth varies from period-to-period due to factors including, but not limited to, Growth Direct system order volume and timing as well as access to customer sites (including the timing of customer site construction activities). As a result, we expect to experience continued variability in our period-to-period number of Growth Direct system placements due to the aforementioned factors.

Validated systems

We regularly review the number of Growth Direct systems validated and cumulative