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Rapid Micro Biosystems, Inc. reports news about its life sciences automation business for microbial quality-control testing in healthcare manufacturing. The company develops and sells the Growth Direct platform, proprietary consumables, LIMS connectivity, software and services used to automate microbial analysis for pharmaceuticals, medical devices and personal care products.
Recurring updates include financial results and guidance, Growth Direct system placements and validations, customer orders from global biopharma and CDMO manufacturers, and company participation in healthcare investor conferences. News also covers equity compensation actions and Nasdaq-related employment inducement grants tied to its public-company governance.
Rapid Micro Biosystems reported first quarter 2022 commercial revenue of $4.2 million, down from $4.8 million in Q1 2021.
Recurring commercial revenue grew by 66% to $2.7 million. The company reaffirmed its full-year 2022 revenue outlook of $27 million to $32 million, expecting growth of 25% to 50% year-over-year. The net loss decreased to ($14.9 million) from ($22.1 million) in Q1 2021. Cash and investments totaled $184.2 million, with no debt. System placements are anticipated to peak in Q4 2022 as access to customer sites improves.
Rapid Micro Biosystems, Inc. (Nasdaq: RPID) will announce its first quarter 2022 financial results on May 10, 2022, before the market opens. A webcast conference call hosted by management will follow at 8:30 a.m. EDT, accessible via the company’s investor relations website. The company specializes in life sciences technology, focusing on automation solutions that enhance the manufacturing and quality control processes for healthcare products, including biologics and vaccines. Their Growth Direct System modernizes microbial quality control testing across pharmaceutical manufacturing globally.
Rapid Micro Biosystems (Nasdaq: RPID) reported a fourth quarter total revenue of $5.2 million for 2021, maintaining the same level as Q4 2020. Full year revenue reached $23.2 million, a 44% increase from 2020. Commercial revenue for the year was $21.6 million, up 54%, with recurring revenue showing remarkable growth of 100%. The company has reaffirmed its 2022 commercial revenue outlook of $27 million to $32 million, suggesting growth between 25% and 50%.
Rapid Micro Biosystems (Nasdaq: RPID) announced its participation in the Cowen 42nd Annual Health Care Conference, scheduled for March 8, 2022, at 10:30 a.m. EST. CEO Rob Spignesi and CFO Sean Wirtjes will engage in a virtual Q&A session, accessible via a live webcast on the company's website. The session will also be archived for 90 days. The company specializes in automation solutions for healthcare product manufacturing, focusing on enhancing quality control processes through its flagship product, the Growth Direct System.
Rapid Micro Biosystems (Nasdaq: RPID) will announce its fourth quarter and full year 2021 financial results on March 4, 2022, before the market opens. The management team will host a webcast conference call at 8:30 a.m. EST on the same day, accessible via their website. Rapid Micro specializes in automated solutions for microbial quality control in pharmaceutical manufacturing, ensuring faster and safer healthcare product releases. Their flagship product, the Growth Direct System, modernizes traditional testing methods, enhancing efficiency and regulatory compliance.
Rapid Micro Biosystems (Nasdaq: RPID) announced the appointment of Michael Beaulieu as Vice President of Investor Relations and Corporate Communications. Beaulieu, with over 20 years in the industry, most recently served at Integra LifeSciences, where he earned recognition as a top IR professional. His expertise is expected to enhance RPID's outreach and investor engagement, ultimately aiming to create long-term shareholder value. The company specializes in automation solutions for healthcare product manufacturing, including biologics and vaccines, driving significant operational benefits.
Rapid Micro Biosystems (Nasdaq: RPID) has announced its preliminary unaudited revenue for Q4 2021, estimating total revenue between $4.7 million and $5.2 million, with commercial revenue between $4.5 million and $4.9 million. For the full year 2021, total revenue is expected at $22.8 to $23.3 million. Looking ahead, the company projects 2022 commercial revenue of $27 million to $32 million, representing growth of 25% to 50%. Despite challenges from COVID-19, Rapid Micro secured growth in recurring revenue, expecting a 90% increase in the last quarter of 2021.
Rapid Micro Biosystems (Nasdaq: RPID) announced the appointment of Inese Lowenstein to its Board of Directors, bringing extensive leadership experience from companies like Danaher and Merck. CEO Robert Spignesi expressed enthusiasm, noting Lowenstein's track record in customer-focused innovation and strategic growth. Her expertise in life sciences is expected to enhance the company’s mission to be a leader in microbial quality control. Lowenstein has over 20 years of experience in various leadership roles, reinforcing Rapid Micro's commitment to innovative healthcare solutions.
Rapid Micro Biosystems reported third quarter 2021 revenues of $6.9 million, with commercial revenue at $6.3 million, a 27% increase year-over-year. The company reaffirmed its full-year commercial revenue outlook of at least $24.0 million, indicating 70% growth over 2020. Recurring commercial revenue surged by 154% to $2.2 million. Despite these positive trends, net loss widened to ($25.0 million) from ($8.5 million) in Q3 2020, largely due to increased operating costs and charges related to the IPO. Cash on hand stood at $220 million.
Rapid Micro Biosystems (Nasdaq: RPID) will participate in the Stifel 2021 Virtual Healthcare Conference on November 16, 2021. CEO Rob Spignesi and CFO Sean Wirtjes will lead a 30-minute Q&A session at 6:20 am PT/9:20 am ET. A live webcast will be available on the company's website and archived for 90 days. Rapid Micro specializes in automation solutions for healthcare manufacturing, enhancing the efficiency of microbial quality control testing. Its flagship Growth Direct® System modernizes testing workflows in pharmaceutical manufacturing, ensuring safe product releases.