Rapid Micro Biosystems Reports $7.2 Million Revenue in Q1 2025, 28.4% Increase Year-Over-Year

Rapid Micro Biosystems, Inc. reported a total revenue of $7.2 million for the first quarter of 2025, marking a 28.4% increase from $5.6 million in the same period of 2024. The growth was driven by a 10.4% rise in product revenue, which reached $4.1 million, and a significant 63.5% increase in service revenue, totaling $3.1 million. Despite this revenue growth, the company continued to incur losses, with a net loss of $11.3 million for the quarter, an improvement from the $13.3 million loss reported in the prior year.

In terms of operational metrics, the company placed three Growth Direct systems during the quarter, maintaining a cumulative total of 165 systems across approximately 50 customers. The number of validated systems also increased, with nine validations completed in the quarter, bringing the cumulative total to 146. The company noted that approximately 40% of its customers have purchased systems for multiple sites, indicating a growing adoption of its technology.

The financial performance reflects a strategic focus on expanding the customer base and enhancing product offerings. In February 2025, Rapid Micro entered into a Distribution and Collaboration Agreement with Millipore S.A.S., allowing the latter to sell the company’s products globally in various industrial quality control applications. This partnership is expected to drive additional sales and improve operational efficiencies through potential cost-saving measures in the supply chain.

The company’s total operating expenses decreased by 5.1% to $18.9 million, primarily due to reduced personnel-related costs following an operational efficiency program initiated in August 2024. Research and development expenses also saw a decline, reflecting the company's efforts to manage costs while continuing to invest in product innovation. As of March 31, 2025, Rapid Micro had cash and cash equivalents of $18.9 million, along with short-term investments of $22.8 million, which the company believes will be sufficient to fund operations for at least the next twelve months.

Looking ahead, Rapid Micro anticipates continued investment in sales and marketing to drive customer adoption of its Growth Direct platform, alongside efforts to enhance manufacturing capabilities and develop new products. The company remains cautious about the impact of inflation and interest rates on its operations and is focused on maintaining positive gross margins achieved in recent quarters.