Rapid Micro Biosystems(US:RPID) Globenewswireยท2025-05-09 11:00Core Insights - Rapid Micro Biosystems reported a strong revenue growth of 28% in Q1 2025, reaching $7.2 million compared to $5.6 million in Q1 2024, with record quarterly service revenue [2][3][8] - The company is focused on product cost reduction, manufacturing efficiency, and service productivity, which contributed to significant gross margin expansion from negative 27% in Q1 2024 to positive 6% in Q1 2025 [2][4][8] - A global Distribution and Collaboration Agreement with MilliporeSigma is expected to enhance system placements and improve gross margins [2][8] Financial Performance - Total revenue for Q1 2025 was $7.2 million, a 28% increase from $5.6 million in Q1 2024 [3][8] - Product revenue increased by 10% to $4.1 million, while service revenue surged by 64% to $3.1 million compared to the previous year [3][8] - Recurring revenue rose by 6% to $4.0 million [3] Cost and Expenses - Total cost of revenue decreased by 5% to $6.8 million in Q1 2025 from $7.1 million in Q1 2024 [4] - Total operating expenses also decreased by 5% to $12.1 million, with notable reductions in research and development expenses by 6% and sales and marketing expenses by 16% [5] Net Loss and Cash Position - The net loss for Q1 2025 was $11.3 million, an improvement from a net loss of $13.3 million in Q1 2024, with net loss per share decreasing from $0.31 to $0.26 [6][8] - As of March 31, 2025, the company had approximately $42 million in cash, cash equivalents, and short-term investments, with no outstanding debt [6][8] 2025 Outlook - The company reaffirmed its full-year 2025 total revenue guidance of at least $32.0 million, anticipating between 21 and 25 system placements [7][8]