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 (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.
Rapid Micro Biosystems (NASDAQ: RPID) reported strong Q2 2024 results, with record revenue of $6.6 million, up 32% year-over-year. The company placed its 150th Growth Direct® system and first Growth Direct Rapid Sterility system with top global pharma customers. Gross margin improved by 35 percentage points compared to Q2 2023. RPID announced an operational efficiency program expected to achieve positive cash flow without additional financing. The company reaffirmed its 2024 revenue guidance of at least $27.0 million, representing 20%+ growth. Q2 highlights include:
- Product revenue up 43.2% to $4.5 million
- Service revenue up 13.5% to $2.1 million
- Recurring revenue up 7.0% to $3.8 million
- Net loss reduced to $12.6 million ($0.29 per share)
- Cash position of $70 million with no debt
Rapid Micro Biosystems (Nasdaq: RPID), a life sciences technology company specializing in automation solutions for efficient healthcare product manufacturing, has announced its plans to release second quarter 2024 financial results before the market opens on Friday, August 2, 2024. Following the release, the company's management team will host a webcast conference call at 8:30 a.m. ET on the same day.
Investors and interested parties can access the live webcast through the company's website. The webcast will remain available for replay for one year after the event. This announcement provides an opportunity for stakeholders to gain insights into Rapid Micro Biosystems' financial performance and future outlook.
Rapid Micro Biosystems, Inc. (Nasdaq: RPID) reports a 11% growth in total revenue for the first quarter of 2024, reaching $5.6 million. The company reaffirms its full year 2024 total revenue guidance of at least $27.0 million, with growth of at least 20% compared to 2023. The first quarter saw an increase in recurring revenue by 15% to $3.7 million, including record consumable revenue. The company placed three new Growth Direct systems and completed the validation of three customer systems. Although the total cost of revenue increased by 5% to $7.1 million, the company managed to reduce its net loss and improve gross margins.
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