Rapid Micro Biosystems Reports Fourth Quarter and Full Year 2024 Financial Results and Provides 2025 Guidance
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 (RPID) ha riportato risultati solidi per il quarto trimestre del 2024, con un fatturato record di 8,2 milioni di dollari, in aumento del 30% rispetto all'anno precedente. L'azienda ha raggiunto un fatturato totale per il 2024 di 28,1 milioni di dollari, con una crescita del 25% rispetto al 2023.
I punti salienti del quarto trimestre includono sei installazioni del sistema Growth Direct, un aumento del 27% nel fatturato dei prodotti a 5,2 milioni di dollari e una crescita del 35% nel fatturato dei servizi a 3,0 milioni di dollari. L'azienda ha dimostrato un miglioramento significativo dei margini, raggiungendo un margine lordo record del 12% per il quarto trimestre, in aumento di 15 punti percentuali rispetto al quarto trimestre del 2023.
Per il 2024 completo, RPID ha installato 21 sistemi Growth Direct e completato 16 validazioni di sistema, raggiungendo un totale cumulativo di 162 sistemi installati a livello globale. L'azienda prevede un fatturato per il 2025 di almeno 32,0 milioni di dollari con 21-25 installazioni di sistemi pianificate. Inoltre, RPID ha annunciato un Accordo di Distribuzione e Collaborazione globale con MilliporeSigma.
Rapid Micro Biosystems (RPID) informó resultados sólidos para el cuarto trimestre de 2024, con un ingreso récord de 8.2 millones de dólares, un aumento del 30% en comparación con el año anterior. La compañía alcanzó un ingreso total de 28.1 millones de dólares para 2024, lo que representa un crecimiento del 25% en comparación con 2023.
Los aspectos destacados del cuarto trimestre incluyen seis colocaciones del sistema Growth Direct, un aumento del 27% en los ingresos por productos a 5.2 millones de dólares y un crecimiento del 35% en los ingresos por servicios a 3.0 millones de dólares. La compañía demostró una mejora significativa en los márgenes, alcanzando un margen bruto récord del 12% en el cuarto trimestre, un aumento de 15 puntos porcentuales en comparación con el cuarto trimestre de 2023.
Para el 2024 completo, RPID colocó 21 sistemas Growth Direct y completó 16 validaciones de sistemas, alcanzando un total acumulativo de 162 sistemas colocados a nivel global. La compañía proyecta ingresos de al menos 32.0 millones de dólares para 2025 con entre 21 y 25 colocaciones de sistemas planeadas. Además, RPID anunció un Acuerdo de Distribución y Colaboración global con MilliporeSigma.
Rapid Micro Biosystems (RPID)는 2024년 4분기 강력한 실적을 보고하며 820만 달러의 기록적인 수익을 달성했으며, 이는 전년 대비 30% 증가한 수치입니다. 회사는 2024년 전체 수익 2810만 달러를 기록하며 2023년 대비 25% 성장했습니다.
4분기 주요 내용으로는 6개의 Growth Direct 시스템 배치, 제품 수익이 520만 달러로 27% 증가, 서비스 수익이 300만 달러로 35% 성장했습니다. 회사는 4분기 총 매출 총이익률 12%의 기록적인 개선을 보여주었으며, 이는 2023년 4분기 대비 15포인트 증가한 수치입니다.
2024년 전체에 대해 RPID는 21개의 Growth Direct 시스템을 배치하고 16개의 시스템 검증을 완료하여 전 세계적으로 162개의 시스템을 누적 배치했습니다. 회사는 2025년 수익을 최소 3200만 달러로 예상하며, 21-25개의 시스템 배치를 계획하고 있습니다. 또한, RPID는 MilliporeSigma와의 글로벌 유통 및 협력 계약을 발표했습니다.
Rapid Micro Biosystems (RPID) a annoncé de solides résultats pour le quatrième trimestre 2024, avec un chiffre d'affaires record de 8,2 millions de dollars, en hausse de 30 % par rapport à l'année précédente. L'entreprise a atteint un chiffre d'affaires total de 28,1 millions de dollars pour 2024, représentant une croissance de 25 % par rapport à 2023.
Les points forts du quatrième trimestre incluent six placements de systèmes Growth Direct, une augmentation de 27 % des revenus produits atteignant 5,2 millions de dollars, et une croissance de 35 % des revenus de services atteignant 3,0 millions de dollars. L'entreprise a démontré une amélioration significative des marges, atteignant un marge brute record de 12 % au quatrième trimestre, en hausse de 15 points de pourcentage par rapport au quatrième trimestre 2023.
Pour l'année complète 2024, RPID a placé 21 systèmes Growth Direct et a complété 16 validations de système, atteignant un total cumulé de 162 systèmes placés dans le monde. L'entreprise prévoit un chiffre d'affaires d'au moins 32,0 millions de dollars pour 2025 avec 21 à 25 placements de systèmes prévus. De plus, RPID a annoncé un Accord de Distribution et de Collaboration mondial avec MilliporeSigma.
Rapid Micro Biosystems (RPID) berichtete über starke Ergebnisse im vierten Quartal 2024 mit einem Rekordumsatz von 8,2 Millionen Dollar, was einem Anstieg von 30 % im Vergleich zum Vorjahr entspricht. Das Unternehmen erzielte einen Jahresumsatz 2024 von 28,1 Millionen Dollar, was ein Wachstum von 25 % im Vergleich zu 2023 darstellt.
Zu den Höhepunkten des vierten Quartals gehören sechs Platzierungen des Growth Direct-Systems, ein Anstieg des Produktumsatzes um 27 % auf 5,2 Millionen Dollar und ein Wachstum des Serviceumsatzes um 35 % auf 3,0 Millionen Dollar. Das Unternehmen zeigte eine signifikante Verbesserung der Gewinnmargen und erreichte eine Rekord-Bruttomarge von 12 % im vierten Quartal, was einem Anstieg von 15 Prozentpunkten im Vergleich zum vierten Quartal 2023 entspricht.
Für das Gesamtjahr 2024 platzierte RPID 21 Growth Direct-Systeme und schloss 16 Systemvalidierungen ab, wodurch insgesamt 162 Systeme weltweit installiert wurden. Das Unternehmen prognostiziert Umsätze von mindestens 32,0 Millionen Dollar für 2025 mit 21-25 geplanten Systemplatzierungen. Darüber hinaus gab RPID eine globale Vertriebs- und Kooperationsvereinbarung mit MilliporeSigma bekannt.
- Record Q4 revenue of $8.2M (+30% YoY)
- Q4 gross margin improved to 12% (+15 points YoY)
- Full-year revenue grew 25% to $28.1M
- Service revenue up 35% in Q4
- Operating expenses decreased 7% in Q4
- New distribution agreement with MilliporeSigma
- Strong cash position of $50.7M with no debt
- Net loss of $9.7M in Q4 2024
- Full-year net loss of $46.9M
- R&D expenses increased 14% in 2024
- Break-even gross margin (0%) for full-year 2024
Insights
Rapid Micro Biosystems' Q4 2024 results demonstrate meaningful traction in their financial transformation. The
The
While the
The 2025 guidance of >$32 million revenue (implying
The MilliporeSigma global distribution agreement represents a potential inflection point for Rapid Micro's commercialization strategy. Merck KGaA's Life Science division brings substantial global market access and customer relationships that could significantly accelerate Growth Direct system adoption in pharmaceutical manufacturing quality control laboratories.
The "co-exclusive" structure allows RPID to maintain its direct sales capabilities while leveraging MilliporeSigma's extensive reach. More significant is the collaboration on manufacturing supply chain, services, and joint technology development—suggesting potential advantages beyond simple distribution that could further enhance margins and product innovation.
The 21 systems placed in 2024 demonstrates market validation, but the projected flat placement rate for 2025 (21-25 systems) appears surprisingly conservative given the new partnership, suggesting management may be setting achievable targets while the collaboration ramps up.
The Growth Direct system addresses a critical pain point in pharmaceutical manufacturing—microbial quality control testing that traditionally requires days of manual work. The
The improving financial metrics and strategic partnership position RPID to potentially establish Growth Direct as the standard in automating microbial QC testing, though execution of the MilliporeSigma collaboration will be critical to achieving meaningful market penetration.
- Reports record fourth quarter 2024 total revenue of
$8.2 million , representing30% growth compared to fourth quarter 2023; recurring revenue increased by27% compared to the fourth quarter of 2023. - Announces full year 2024 total revenue of
$28.1 million , representing25% growth compared to 2023; recurring revenue increase by14% compared to 2023. - Reports record fourth quarter gross margin of
12% , representing a 15-percentage point improvement over the fourth quarter of 2023; full year 2024 gross margin increased 24 percentage points compared to 2023. - Announces global Distribution and Collaboration Agreement with MilliporeSigma
LEXINGTON, Mass., Feb. 28, 2025 (GLOBE NEWSWIRE) -- Rapid Micro Biosystems, Inc. (Nasdaq: RPID) (the “Company”), an innovative life sciences technology company providing mission critical automation solutions to facilitate the efficient manufacturing and fast, safe release of healthcare products, today announced its financial results for the fourth quarter and full year ended December 31, 2024.
“We are pleased to have closed out 2024 with record fourth quarter sales and gross margin performance, demonstrating the momentum in our business,” said Robert Spignesi, President and CEO. “In 2025, we expect to build on this momentum through continued focus on our strategic priorities of accelerating system placements, improving gross margins, innovating new products and prudently managing our cash. We are excited about the global Distribution and Collaboration Agreement we announced with MilliporeSigma and expect it to accelerate our progress against each of these strategic priorities over the coming years. Together, this gives us confidence in our ability to further establish the Growth Direct as the standard in automating microbial quality control and deliver sustained shareholder value.”
Fourth Quarter Financial Results
Total revenue for the fourth quarter of 2024 was
Total cost of revenue was
Total operating expenses decreased by
Net loss for the fourth quarter of 2024 was
Cash, cash equivalents and investments were
Full Year 2024 Financial Results
Total revenue for the full year was
Total cost of revenue was
Total operating expenses decreased by
Net loss was
Full Year 2025 Outlook
For the full year 2025, the Company expects total revenue of at least
Global Distribution and Collaboration Agreement with MilliporeSigma
In a separate release issued on February 27, 2025, the Company announced a global Distribution and Collaboration Agreement with the Life Science business of Merck KGaA, Darmstadt, Germany, which operates in the U.S. as MilliporeSigma (“MilliporeSigma”). This agreement grants MilliporeSigma global co-exclusive rights to sell Growth Direct systems and related consumables. The Company will continue to utilize its existing direct sales team and distribution channels to sell, place, validate and service its products globally. The agreement also enables collaboration between both parties with respect to the Company’s manufacturing supply chain, services and joint technology development efforts.
For additional details regarding this announcement, please refer to the related press release at https://investors.rapidmicrobio.com/news-and-events/news-releases
Webcast Details
The Company will host a conference call before the market opens today, February 28, 2025, at 8:00 a.m. EST to discuss its fourth quarter and full year 2024 financial results. The live call is accessible on the Company’s website at https://investors.rapidmicrobio.com and will be archived and available for replay for one year.
About Rapid Micro Biosystems
Rapid Micro Biosystems is an innovative life sciences technology company providing mission critical automation solutions to facilitate the efficient manufacturing and fast, safe release of healthcare products such as biologics, vaccines, cell and gene therapies, and sterile injectables. The Company’s flagship Growth Direct system automates and modernizes the antiquated, manual microbial quality control (“MQC”) testing workflows used in the largest and most complex pharmaceutical manufacturing operations across the globe. The Growth Direct system brings the quality control lab to the manufacturing floor, unlocking the power of MQC automation to deliver the faster results, greater accuracy, increased operational efficiency, better compliance with data integrity regulations, and quicker decision making that customers rely on to ensure safe and consistent supply of important healthcare products. The Company is headquartered in Lexington, Massachusetts and has U.S. manufacturing in Lowell, Massachusetts, with global locations in Switzerland, Germany, and the Netherlands. For more information, please visit www.rapidmicrobio.com or follow the Company on X (formerly known as Twitter) at @rapidmicrobio or on LinkedIn.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding the Company’s full year 2025 revenue guidance; expected placements of Growth Direct systems, anticipated timing of such placements and the impact on the Company’s revenue; expectations and goals with respect to continued improvement in gross margins and cash management; and the Company’s Distribution and Collaboration Agreement and the terms thereof, including future collaboration opportunities between the parties.
In some cases, you can identify forward-looking statements by terminology such as “outlook,” “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “predict,” “potential,” “positioned,” “seek,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements involve known and unknown risks, uncertainties and assumptions which may cause actual results to differ materially from any results expressed or implied by any forward-looking statement, including, but not limited to, the Company’s significant losses since inception; the Company’s ability to meet its publicly announced guidance and other expectations about its business and operations; the effectiveness of the Company’s sales and marketing efforts; the Company’s ability to sell and place its products with customers; the Company’s ability to develop new products and adapt to technological change; the Company’s ability to establish and maintain its position as a leading provider of automated microbial quality control testing; competition within the Company’s industry; the Company’s ability to maintain its manufacturing operations; the Company’s efforts to improve gross margins for its products; the Company’s ability to maintain and grow its relationships with its collaborators, including MilliporeSigma; the Company’s ability to manage its collaboration with MilliporeSigma and to realize the intended benefits of the distribution and collaboration agreement; the impact of the terms of the distribution and collaboration agreement on the Company’s business and results of operations; the Company’s ability to negotiate and enter into future collaboration opportunities with MilliporeSigma, and to realize the intended benefits therefrom; risks related to third-parties; the Company’s ability to retain key management and other employees; risks related to regulatory and intellectual property matters; risks related to supply chain disruptions and the impact of inflation; the impact of macroeconomic volatility on the Company’s business and operations; and the other important factors outlined under the caption “Risk Factors” in the Company’s most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on November 7, 2024, as such factors may be updated from time to time in its other filings with the SEC, which are available on the SEC's website at www.sec.gov and the Investor Relations page of its website at investors.rapidmicrobio.com. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it cannot guarantee future results. The Company has no obligation, and does not undertake any obligation, to update or revise any forward-looking statement made in this press release to reflect changes since the date of this press release, except as may be required by law.
| RAPID MICRO BIOSYSTEMS, INC. Unaudited Consolidated Statements of Operations (In thousands, except share and per share amounts) | |||||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenue: | |||||||||||||||
| Product revenue | $ | 5,223 | $ | 4,112 | $ | 18,728 | $ | 14,805 | |||||||
| Service revenue | 2,995 | 2,225 | 9,323 | 7,714 | |||||||||||
| Total revenue | 8,218 | 6,337 | 28,051 | 22,519 | |||||||||||
| Costs and operating expenses: | |||||||||||||||
| Cost of product revenue | 5,637 | 4,699 | 21,041 | 20,060 | |||||||||||
| Cost of service revenue | 1,599 | 1,810 | 7,119 | 7,944 | |||||||||||
| Research and development | 3,401 | 3,318 | 14,597 | 12,820 | |||||||||||
| Sales and marketing | 2,982 | 3,161 | 13,266 | 13,322 | |||||||||||
| General and administrative | 4,827 | 5,537 | 21,947 | 24,936 | |||||||||||
| Total costs and operating expenses | 18,446 | 18,525 | 77,970 | 79,082 | |||||||||||
| Loss from operations | (10,228 | ) | (12,188 | ) | (49,919 | ) | (56,563 | ) | |||||||
| Other income (expense): | |||||||||||||||
| Interest income, net | 575 | 1,041 | 3,164 | 4,210 | |||||||||||
| Other expense, net | (21 | ) | (17 | ) | (112 | ) | (83 | ) | |||||||
| Total other income, net | 554 | 1,024 | 3,052 | 4,127 | |||||||||||
| Loss before income taxes | (9,674 | ) | (11,164 | ) | (46,867 | ) | (52,436 | ) | |||||||
| Income tax expense | (9 | ) | 8 | 22 | 31 | ||||||||||
| Net loss | $ | (9,665 | ) | $ | (11,172 | ) | $ | (46,889 | ) | $ | (52,467 | ) | |||
| Net loss per share — basic and diluted | $ | (0.22 | ) | $ | (0.26 | ) | $ | (1.08 | ) | $ | (1.22 | ) | |||
| Weighted average common shares outstanding — basic and diluted | 43,768,689 | 43,139,346 | 43,575,705 | 43,024,039 | |||||||||||
| RAPID MICRO BIOSYSTEMS, INC. Unaudited Condensed Consolidated Balance Sheets (In thousands) | |||||
| December 31, | |||||
| 2024 | 2023 | ||||
| Assets | |||||
| Current assets: | |||||
| Cash and cash equivalents | $ | 16,911 | $ | 24,285 | |
| Short-term investments | 33,821 | 67,768 | |||
| Accounts receivable | 7,519 | 5,532 | |||
| Inventory | 20,200 | 19,961 | |||
| Prepaid expenses and other current assets | 2,466 | 2,869 | |||
| Total current assets | 80,917 | 120,415 | |||
| Property and equipment, net | 11,193 | 12,832 | |||
| Right-of-use assets | 5,163 | 6,240 | |||
| Long-term investments | — | 2,911 | |||
| Other long-term assets | 531 | 770 | |||
| Restricted cash | 365 | 284 | |||
| Total assets | $ | 98,169 | $ | 143,452 | |
| Liabilities and Stockholders’ Equity | |||||
| Current liabilities: | |||||
| Accounts payable | $ | 2,535 | $ | 1,973 | |
| Accrued expenses and other current liabilities | 7,217 | 9,907 | |||
| Deferred revenue | 6,599 | 5,974 | |||
| Lease liabilities, short-term | 1,214 | 1,132 | |||
| Total current liabilities | 17,565 | 18,986 | |||
| Lease liabilities, long-term | 4,954 | 6,214 | |||
| Other long-term liabilities | 298 | 263 | |||
| Total liabilities | 22,817 | 25,463 | |||
| Total stockholders’ equity | 75,352 | 117,989 | |||
| Total liabilities and stockholders’ equity | $ | 98,169 | $ | 143,452 | |
FAQ
What was Rapid Micro Biosystems (RPID) revenue growth in Q4 2024?
How many Growth Direct systems did RPID place in 2024?
What is RPID's revenue guidance for 2025?
How did RPID's gross margin improve in Q4 2024?
What was RPID's recurring revenue growth in 2024?
