0001380106-26-000034
SEC filingRapid Micro Biosystems, Inc. reported total revenue of $33.6 million for FY 2025, a 19.7% increase from $28.1 million in FY 2024. The company incurred a net loss of $47.1 million, consistent with the prior year's net loss of $46.9 million. Revenue growth was driven by a 25.1% increase in product revenue to $23.4 million, primarily from higher system placements and consumable shipments, and a 9.0% increase in service revenue to $10.2 million. Despite revenue growth, the company's operating loss was $47.4 million, with total costs and operating expenses of $81.0 million. Gross margin improved to 3.1% for FY 2025 from (0.4)% in FY 2024. The company ended the year with $38.6 million in cash, cash equivalents, and short-term investments, and believes this is sufficient to fund operations for at least the next 12 months.
Rapid Micro Biosystems reported FY 2025 total revenue of $33.6 million, a $5.5 million or 19.7% increase from $28.1 million in FY 2024. The company incurred a net loss of $47.1 million, essentially flat compared to a $46.9 million net loss in the prior year. Loss from operations was $47.4 million. Key business metrics showed 28 Growth Direct systems placed during the year (up from 21), bringing cumulative placements to 190. Cumulative validated systems reached 155, up from 137. Recurring revenue from consumables and service contracts was $17.8 million, representing 53.1% of total revenue.
Revenue is derived from two primary segments: Product and Service. Product revenue increased by $4.7 million (25.1%) to $23.4 million, driven by higher system placements, increased consumable shipment volumes due to growth in cumulative validated systems, and higher software sales. Service revenue increased by $0.8 million (9.0%) to $10.2 million, primarily due to increases in validation and installation services as well as higher service contract revenue from a growing base of validated systems. The company had 49 customers globally as of December 31, 2025.
The company achieved a gross margin of 3.1% for FY 2025, an improvement from (0.4)% in FY 2024 and (24.4)% in FY 2023. This improvement reflects positive trends, though management notes future expansion may not be linear and is subject to variability. Total costs and operating expenses were $81.0 million. Research and development expenses decreased by $1.0 million (6.8%) to $13.6 million. Sales and marketing expenses decreased by $1.2 million (8.9%) to $12.1 million. General and administrative expenses increased by $0.8 million (3.7%) to $22.8 million, primarily due to higher stock-based compensation and legal fees.
Net cash used in operating activities was $31.1 million, an improvement from $44.2 million used in the prior year, primarily due to lower personnel costs and timing of vendor payments and customer receipts. Net cash provided by investing activities was $14.3 million, and net cash provided by financing activities was $19.8 million, primarily from the issuance of $20.0 million in long-term debt. The company ended the period with $20.0 million in cash and cash equivalents, $18.3 million in short-term investments, and total assets of $74.9 million. Total liabilities were $41.6 million, including $18.9 million in notes payable. Stockholders' equity was $33.2 million.
Management believes existing cash, cash equivalents, and investments of $38.6 million will enable the company to fund operating expenses and capital expenditure requirements for at least 12 months following the issuance of the financial statements. This is based on assumptions that may prove wrong. The company has a goal of achieving positive cash flow without additional financing, contingent on revenue growth, gross margin improvement, and cost savings, but there is no assurance this goal will be attained. Key risks include the need for additional capital, significant indebtedness, fluctuations in operating results, and dependence on the commercial success of the Growth Direct platform.