Company: RPID
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001380106-25-000102
Chunk: 12

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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3 %Total other income (expense), net405 954 (549)(57.5)%Loss before income taxes(11,256)(13,319)2,063 (15.5)%Income tax expense7 3 4 133.3 %Net loss$(11,263)$(13,322)$2,059 (15.5)%

Revenue

Product revenue increased by $0.4 million, or 10.4%, with the increase attributable to higher consumable volumes and other system-related revenue partially offset by a reduction in average consumable pricing due primarily to customer and product mix.

Service revenue increased by $1.2 million, or 63.5%.  The increase in service revenue was primarily due to increases in revenue related to validations and installations (including one-time services unrelated to new system sales) as well as higher service contract revenue due to an increase in the cumulative number of Growth Direct systems validated and under such contracts.

Costs and operating expenses

Costs of revenue

Cost of product revenue decreased by $0.1 million, or 2.8%. The decrease was driven by lower labor and overhead costs in part due to the impact of cost reduction activities. 

Cost of service revenue decreased by $0.2 million, or 9.6%. This decrease was primarily attributable to lower service headcount and headcount-related costs.

35

Table of Contents

Research and development

Three Months Ended March 31,Change20252024Amount%(dollars in thousands)Research and development$3,624 $3,842 $(218)(5.7)%Percentage of total revenue50.3 %68.5 %

Research and development expenses decreased by $0.2 million, or 5.7%. This decrease was primarily driven by lower head-count related costs including the impact from the cost reduction activities implemented in August 2024.

Sales and marketing

Three Months Ended March 31,Change20252024Amount%(dollars in thousands)Sales and marketing$2,751 $3,281 $(530)(16.2)%Percentage of total revenue38.2 %58.5 %

Sales and marketing expenses decreased by $0.5 million, or 16.2%. This decrease was primarily driven by lower headcount-related costs including the impact from the cost reduction activities implemented in August 2024. 

General and administrative

Three Months Ended March 31,Change20252024Amount%(dollars in thousands