10 November 2025 | Monday | Company results
Rapid Micro Biosystems CEO Robert Spignes
Rapid Micro Biosystems, Inc. (Nasdaq: RPID) (the “Company”), an innovative life sciences technology company providing mission critical automation solutions to facilitate the efficient manufacturing and fast, safe release of healthcare products, announced its financial results for the third quarter ended September 30, 2025.
"Our third quarter results once again reflected strong and consistent execution across the business," said Robert Spignesi, President and CEO. "We delivered record consumable revenue and double-digit service growth, and system placements were in line with our expectations. Recurring revenue increased more than 30% compared to the third quarter last year."
"We are also pleased to announce that, in October, we received our largest multi-system order in company history from an existing Top 20 global biopharma customer," continued Spignesi. "This follow-on purchase, which includes existing and new sites for this customer in North America, Europe and Asia Pacific, underscores the continued growing adoption of the Growth Direct platform in large-scale, global pharmaceutical manufacturing, reinforces the trust our customers place in us, and supports our outlook for growth in 2026 and beyond."
Third Quarter Financial Results
Total revenue for the third quarter of 2025 increased 3% to $7.8 million compared to $7.6 million in the third quarter of 2024. The Company placed five new Growth Direct® systems and completed the validation of four customer systems compared to seven placements and four validations in the third quarter of 2024. Product revenue was essentially flat at $5.2 million, compared to $5.3 million in the third quarter of 2024. Service revenue increased by 12% to $2.6 million, compared to $2.3 million in the third quarter of 2024. Recurring revenue increased 32% to $4.8 million, compared to $3.7 million in the third quarter of 2024.
Total cost of revenue was $7.1 million in the third quarter of 2025, an increase of 2% compared to $7.0 million in the third quarter of 2024. Gross margin was 9%, or $0.7 million, compared to 8%, or $0.6 million in the third quarter of 2024.
Total operating expenses decreased by 5% to $12.1 million in the third quarter of 2025, compared to $12.7 million in the third quarter of 2024. General and administrative expenses decreased by 1%, research and development expenses decreased by 2%, and sales and marketing expenses decreased by 14%, in each case compared to the third quarter of 2024.
Net loss for the third quarter of 2025 was $11.5 million, compared to $11.3 million in the third quarter of 2024. Net loss per share was $0.26 in the third quarters of both 2025 and 2024.
Cash, cash equivalents, short-term investments, and restricted cash were approximately $42 million as of September 30, 2025.
Record Multi-System Customer Order
In October, the Company received the largest multi-system customer order in its history from an existing Top 20 global biopharma customer. The systems will be placed across manufacturing sites in North America, Europe and Asia Pacific and include environmental monitoring, water and bioburden applications.
2025 Outlook
The Company is raising its full year 2025 total revenue guidance to at least $33.0 million, which assumes at least 27 Growth Direct system placements, including a meaningful contribution from the multi-system customer order discussed above in the fourth quarter.
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