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

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 10
---
 to customer sites, customer site readiness, availability of required customer personnel and the time to install and validate each individual system. As a result, we expect to experience continued fluctuations in our period-to-period number of Growth Direct systems validated due to the aforementioned factors.

Recurring revenue

We regularly assess trends relating to our recurring revenue, which is the revenue from consumables and service contracts, based on our product offerings, our customer base and our understanding of how our customers use our products. Recurring revenue was 61.7% and 48.3% of our total revenue for the three months ended September 30, 2025 and 2024, respectively. Recurring revenue was 59.3% and 56.8% for the nine months ended September 30, 2025 and 2024, 

39

respectively. Our recurring revenue as a percentage of the total product and service revenue will generally vary based upon the number of Growth Direct systems placed and the cumulative number of validated systems in the period, as well as other variables such as the volume of tests being conducted and the test application(s) being used on customers' Growth Direct systems.

Components of results of operations

Revenue

We generate revenue from sales of our Growth Direct system (including our LIMS connection and Mold Alarm software), consumables, validation services, service contracts, and field service. We have historically primarily sold our products and services through direct sales representatives. Our sales arrangements are noncancellable and nonrefundable after ownership passes to the customer.

Three Months Ended September 30, 2025Percentageof TotalRevenueThree Months EndedSeptember 30, 2024Percentageof TotalRevenue(in thousands)(in thousands)Product revenue$5,214 66.5 %$5,255 69.1 %Service revenue2,624 33.5 %2,349 30.9 %Total revenue$7,838 100.0 %$7,604 100.0 %

Nine Months Ended September 30, 2025Percentageof totalrevenueNine Months EndedSeptember 30, 2024Percentageof totalrevenue(in thousands)(in thousands)Product revenue$14,117 63.3 %$13,505 68.1 %Service revenue8,188 36.7 %6,328 31.9 %Total revenue$22,305 100.0 %$19,833 100.0 %

Product revenue

We