Welcome to our dedicated page for Rapid Micro Biosystems news (Ticker: RPID), a resource for investors and traders seeking the latest updates and insights on Rapid Micro Biosystems stock.
Rapid Micro Biosystems, Inc. (Nasdaq: RPID), is a leading life sciences technology company known for its pioneering automation solutions designed to accelerate the manufacturing and safe release of critical healthcare products. The company's flagship product, the Growth Direct™ system, modernizes and automates the otherwise manual microbial quality control (MQC) testing workflows, which are essential in pharmaceutical manufacturing. This revolutionary platform ensures faster detection of microbial contamination, delivering significant economic benefits while enhancing the quality processes of manufacturers.
Headquartered in Lowell, Massachusetts, Rapid Micro Biosystems operates globally with locations in Lexington, Massachusetts, Switzerland, Germany, and the Netherlands. The company's solutions are pivotal in areas such as biologics, vaccines, cell and gene therapies, and sterile injectables. By automating MQC, the Growth Direct™ system meets current regulatory practices and improves operational efficiency, data integrity, and accuracy.
One of the company's recent milestones includes a collaboration with Samsung Biologics, a top global contract development and manufacturing organization (CDMO), which has adopted the Growth Direct® platform to enhance its microbial quality control processes. This partnership underscores the platform’s capability to handle the scale, data integrity, and speed demanded by modern biomanufacturing.
In 2023, Rapid Micro Biosystems reported a revenue of $22.5 million, reflecting a 31% growth compared to the previous year, and a notable increase in recurring revenue. The company ended the year with approximately $95 million in cash and investments. With a strong financial position and a growth trajectory, the company continues to focus on expanding its product offerings and improving sales and marketing processes.
Rapid Micro Biosystems is also preparing to launch a new Rapid Sterility Application for the Growth Direct® system. This application is a game-changer for sterility testing, reducing time to organism detection to as little as 12 hours and final results within one to three days, a significant improvement over the traditional 14-day incubation period.
Rapid Micro Biosystems (RPID) reported strong Q4 2024 results with record revenue of $8.2 million, up 30% year-over-year. The company achieved full-year 2024 revenue of $28.1 million, representing 25% growth compared to 2023.
Q4 highlights include six Growth Direct system placements, 27% increase in product revenue to $5.2 million, and 35% growth in service revenue to $3.0 million. The company demonstrated significant margin improvement, reaching a record Q4 gross margin of 12%, up 15 percentage points from Q4 2023.
For full-year 2024, RPID placed 21 Growth Direct systems and completed 16 system validations, reaching 162 cumulative systems placed globally. The company projects 2025 revenue of at least $32.0 million with 21-25 planned system placements. Additionally, RPID announced a global Distribution and Collaboration Agreement with MilliporeSigma.
Rapid Micro Biosystems (NASDAQ: RPID) has entered into a five-year global distribution and collaboration agreement with MilliporeSigma, the Life Science business of Merck KGaA. The partnership grants MilliporeSigma global co-exclusive rights to sell Growth Direct systems and related consumables across pharmaceutical, medical device, personal care, cosmetics, and food and beverage sectors worldwide.
The agreement includes minimum purchase commitments for Growth Direct systems in the first two years. Rapid Micro will maintain its existing sales channels and continue handling system installation, validation, and service. The collaboration aims to explore cost savings through MilliporeSigma's manufacturing capabilities, with potential for joint technology development and service enhancements.
Rapid Micro Biosystems (Nasdaq: RPID), a life sciences technology company specializing in automation solutions for healthcare product manufacturing, has announced its participation in two upcoming investor conferences.
The company will deliver a presentation at the TD Cowen 45th Annual Health Care Conference on March 4, 2025, at 11:10 a.m. ET in Boston, Massachusetts. Additionally, RPID will participate in a Q&A session at the KeyBanc Capital Markets Healthcare Forum, a virtual event scheduled for March 19, 2025, at 11:15 a.m. ET.
Both events will be accessible via live webcasts on the company's investor relations website at investors.rapidmicrobio.com, with recordings available for replay after the events.
Rapid Micro Biosystems (Nasdaq: RPID) has scheduled the release of its fourth quarter and full year 2024 financial results before market opening on February 28, 2025. The company, which specializes in providing automation solutions for healthcare product manufacturing, will accompany the results announcement with a webcast conference call hosted by the management team at 8:00 a.m. ET on the same day. The webcast will be available on the company's website and will remain accessible for replay after the event.
Rapid Micro Biosystems (NASDAQ: RPID) reported preliminary unaudited results for Q4 and full year 2024. The company expects record Q4 2024 revenue of $8.2 million, up 30% year-over-year, with recurring revenue of $4.2 million, up 27%. Full-year 2024 revenue is anticipated at $28.1 million, representing 25% growth, with recurring revenue of $15.5 million, up 14%.
The company placed six new Growth Direct systems and validated four customer systems in Q4, bringing total placements to over 160 systems and over 135 validated systems globally. Additionally, RPID announced a collaboration with Lonza, integrating Growth Direct with Lonza's MODA-EM module to create the first fully automated end-to-end environmental monitoring QC solution, which Lonza is deploying across its global cell and gene therapy manufacturing network.
Rapid Micro Biosystems (Nasdaq: RPID) has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference. The company, which specializes in providing mission critical automation solutions for healthcare product manufacturing, will deliver its presentation on Thursday, January 16, 2025, at 12:45 p.m. Eastern Time (9:45 a.m. Pacific Time).
Interested parties can access a live webcast of the presentation through the company's investor relations website at investors.rapidmicrobio.com. The presentation will also be archived and available for replay following the event.
Rapid Micro Biosystems (Nasdaq: RPID) announced its participation in the Stifel 2024 Healthcare Conference. President and CEO Rob Spignesi and CFO Sean Wirtjes will engage in a 30-minute Q&A session with the host analyst on Monday, November 18, 2024 at 11:30 a.m. Eastern Time. The company, which provides automation solutions for healthcare product manufacturing, will make the session available via live webcast on their investor relations website, with replay access available after the event.
Rapid Micro Biosystems (RPID) reported record Q3 2024 revenue of $7.6 million, up 24% year-over-year. The company placed seven Growth Direct® systems, marking the highest quarterly placements since Q3 2021. Gross margin turned positive at 8%, a 35 percentage point improvement from Q3 2023. Product revenue increased 25% to $5.3 million, while service revenue grew 21% to $2.3 million. Net loss narrowed to $11.3 million ($0.26 per share) from $13.4 million ($0.31 per share) in Q3 2023. The company reaffirmed its 2024 revenue guidance of at least $27.0 million, targeting 20% growth and minimum 20 system placements.
Rapid Micro Biosystems (Nasdaq: RPID) announced it will release its third quarter 2024 financial results before market open on Friday, November 1, 2024. The company, which provides automation solutions for healthcare product manufacturing, will host a webcast conference call at 9:00 a.m. ET on the same day. The audio webcast will be accessible through the company's website and available for replay for one year.
Rapid Micro Biosystems, Inc. (Nasdaq: RPID), a life sciences technology company specializing in automation solutions for healthcare product manufacturing, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference. The event is scheduled for September 6, 2024, in New York City.
Key details:
- President and CEO Rob Spignesi and CFO Sean Wirtjes will participate
- 35-minute Q&A session with the host analyst
- Session starts at 7:00 a.m. Eastern Time
- Live webcast available on the company's investor relations website
- Archived webcast will be accessible for replay after the event
This conference provides an opportunity for Rapid Micro Biosystems to showcase its innovative solutions and engage with industry professionals and investors.
FAQ
What is the current stock price of Rapid Micro Biosystems (RPID)?
What is the market cap of Rapid Micro Biosystems (RPID)?
What does Rapid Micro Biosystems, Inc. specialize in?
What is the Growth Direct™ system?
How did Rapid Micro Biosystems perform financially in 2023?
What are some key applications of Rapid Micro Biosystems' products?
Who recently partnered with Rapid Micro Biosystems?
What is the Rapid Sterility Application?
Where is Rapid Micro Biosystems headquartered?
What kind of economic benefits does the Growth Direct™ system provide?
How does the Growth Direct™ system fit with regulatory practices?
Where can I find more information about Rapid Micro Biosystems?
