Rapid Micro Biosystems Reports Record Fourth Quarter and Full Year 2025 Financial Results and Provides 2026 Guidance
Rhea-AI Summary
Rapid Micro Biosystems (Nasdaq: RPID) reported record Q4 2025 revenue of $11.3M (+37% YoY) and full year 2025 revenue of $33.6M (+20% YoY). The company placed 28 Growth Direct systems in 2025 and now has 190 cumulative placements with 155 validated.
Net loss was $47.1M for 2025 and cash plus short-term investments totaled $39.0M. For 2026 the company forecasts revenue of $37.0M–$41.0M, 30–38 system placements, and gross margins of ~20%.
Positive
- Full year revenue +20% to $33.6M in 2025
- Q4 revenue +37% to $11.3M
- 28 Growth Direct system placements in 2025
- 2026 guidance: $37.0M–$41.0M revenue and 30–38 placements
- Guided gross margin improvement to ~20% for 2026
Negative
- Net loss of $47.1M in 2025
- Q4 2025 gross margin negative 3% (GAAP)
- Total cost of revenue nearly matched revenue at $32.5M
News Market Reaction – RPID
On the day this news was published, RPID declined 21.80%, reflecting a significant negative market reaction. Argus tracked a trough of -31.7% from its starting point during tracking. Our momentum scanner triggered 37 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $54M from the company's valuation, bringing the market cap to $194.13M at that time. Trading volume was very high at 3.9x the daily average, suggesting heavy selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
RPID was up 6.05% with strong earnings and guidance while key peers showed mixed moves: PROF up 3.7%, SERA up 2.66–3.11%, OWLT and RCEL down modestly. The pattern points to a company-specific reaction rather than a broad medical devices move.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 07 | Q3 2025 earnings | Positive | +12.7% | Q3 revenue growth, recurring revenue strength, guidance raised on large multi-system order. |
| Aug 12 | Q2 2025 earnings | Positive | -17.8% | Q2 revenue and margin improvement plus new $45M term loan facility and reaffirmed guidance. |
| May 09 | Q1 2025 earnings | Positive | +25.7% | Strong Q1 revenue growth, record service revenue, margin improvement and new distribution deal. |
| Feb 28 | FY 2024 earnings | Positive | -7.8% | Record Q4 and full-year 2024 revenue with margin gains and 2025 growth guidance. |
| Nov 01 | Q3 2024 earnings | Positive | +1.9% | Record Q3 2024 revenue, return to positive gross margin, strong system placements. |
Earnings releases have generally been received positively, with 3 aligned upside reactions and 2 downside divergences despite constructive fundamentals.
Over the last several quarters, Rapid Micro Biosystems has steadily grown revenue, with Q3 2025 revenue at $7.8M, Q2 2025 at $7.3M, and Q1 2025 at $7.2M. Management repeatedly raised or reaffirmed full-year guidance, including targeting at least $33.0M for 2025 and expanding Growth Direct placements. Gross margin improved from negative levels in early 2024 to positive single digits in multiple quarters. Today’s full-year 2025 results and 2026 guidance build directly on that trend of revenue growth and gradual margin improvement.
Historical Comparison
Recent earnings headlines moved RPID an average of 2.93% over five events. Today’s 6.05% pre-news move is larger than that typical earnings-day reaction.
Across successive earnings, RPID has demonstrated rising revenue, more system placements, and a shift from negative to positive gross margins while repeatedly affirming or raising annual guidance.
Market Pulse Summary
The stock dropped -21.8% in the session following this news. A negative reaction despite revenue growth and guidance would fit prior instances where fundamentally positive earnings were followed by downside moves. While 2025 revenue reached $33.6M and 2026 guidance calls for $37.0M–$41.0M with gross margin near 20%, the company still reported a $47.1M net loss. History shows investors have occasionally focused on losses and margin pressure, leading to short-term weakness after strong operational updates.
AI-generated analysis. Not financial advice.
- Reports record fourth quarter 2025 total revenue of
$11.3 million , representing37% growth compared to fourth quarter 2024 - Reports full year 2025 total revenue of
$33.6 million , representing20% growth compared to 2024 - Amgen expands global Growth Direct system rollout with significant multi-system order in the fourth quarter 2025; will sponsor North American Growth Direct Day in the second quarter 2026
- Samsung Biologics continues to expand Growth Direct deployment across its manufacturing network with a meaningful multi-system order in the first quarter 2026
- For the full year 2026, the Company expects total revenue in the range of
$37.0 million to$41.0 million including a range of 30 to 38 Growth Direct system placements and gross margin percentage of approximately20%
LEXINGTON, Mass., March 12, 2026 (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, 2025.
“We closed 2025 with significant momentum, delivering
Fourth Quarter Financial Results
Total revenue for the fourth quarter of 2025 was
Total cost of revenue was
Total operating expenses increased by
Net loss for the fourth quarter of 2025 was
Cash, cash equivalents, short-term investments, and restricted cash were approximately
Full Year 2025 Financial Results
Total revenue for the full year was
Total cost of revenue was
Total operating expenses decreased by
Net loss was
Full Year 2026 Outlook
For the full year 2026, the Company expects total revenue in the range of
Webcast Details
The Company will host a conference call before the market opens today, March 12, 2026, at 8:30 a.m. EST to discuss its fourth quarter and full year 2025 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.
Non-GAAP Financial Measures
In addition to reporting financial measures in accordance with generally accepted accounting principles (“GAAP”), the Company is including in this press release "non-GAAP adjusted product gross margin," "non-GAAP adjusted product gross margin percentage," “non-GAAP adjusted total gross margin,” and “non-GAAP adjusted total gross margin percentage,” all of which are non-GAAP financial measures. The Company defines non-GAAP adjusted product gross margin as product gross margin adjusted for certain charges to write-off unusable inventory and related warranty expense. Non-GAAP adjusted product gross margin percentage is defined as non-GAAP adjusted product gross margin divided by product revenue. The Company defines non-GAAP adjusted total gross margin as total gross margin adjusted for certain charges to write-off unusable inventory and related warranty expense. Non-GAAP adjusted total gross margin percentage is defined as non-GAAP adjusted total gross margin divided by total revenue.
The Company includes these non-GAAP financial measures because it believes they allow investors to understand and evaluate the Company’s core operating performance and trends. In particular, the exclusion of certain items in calculating non-GAAP adjusted product gross margin, non-GAAP adjusted product gross margin percentage, non-GAAP adjusted total gross margin, and non-GAAP adjusted total gross margin percentage can provide useful measures for period-to-period comparisons of the Company’s core business. These non-GAAP financial measures have limitations as analytical tools, including the fact that such non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies because other companies may calculate non-GAAP adjusted product gross margin, non-GAAP adjusted product gross percentage, non-GAAP adjusted total gross margin, and non-GAAP adjusted total gross margin percentage differently than the Company does. For more information regarding these non-GAAP financial measures, see the tables included at the end of this press release.
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 guidance for 2026, including with respect to total revenue, Growth Direct system placements and gross margins; 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.
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 MillliporeSigma, 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, 2025, 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, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Revenue: | |||||||||||||||
| Product revenue | $ | 9,309 | $ | 5,223 | $ | 23,426 | $ | 18,728 | |||||||
| Service revenue | 1,973 | 2,995 | 10,161 | 9,323 | |||||||||||
| Total revenue | 11,282 | 8,218 | 33,587 | 28,051 | |||||||||||
| Costs and operating expenses: | |||||||||||||||
| Cost of product revenue | 10,073 | 5,637 | 25,979 | 21,041 | |||||||||||
| Cost of service revenue | 1,538 | 1,599 | 6,561 | 7,119 | |||||||||||
| Research and development | 3,221 | 3,401 | 13,603 | 14,597 | |||||||||||
| Sales and marketing | 3,322 | 2,982 | 12,082 | 13,266 | |||||||||||
| General and administrative | 5,340 | 4,827 | 22,754 | 21,947 | |||||||||||
| Total costs and operating expenses | 23,494 | 18,446 | 80,979 | 77,970 | |||||||||||
| Loss from operations | (12,212 | ) | (10,228 | ) | (47,392 | ) | (49,919 | ) | |||||||
| Other income (expense): | |||||||||||||||
| Interest income | 457 | 588 | 1,509 | 3,204 | |||||||||||
| Interest expense | (809 | ) | (13 | ) | (1,090 | ) | (40 | ) | |||||||
| Other expense, net | 80 | (21 | ) | (110 | ) | (112 | ) | ||||||||
| Total other income, net | (272 | ) | 554 | 309 | 3,052 | ||||||||||
| Loss before income taxes | (12,484 | ) | (9,674 | ) | (47,083 | ) | (46,867 | ) | |||||||
| Income tax expense | 14 | (9 | ) | 40 | 22 | ||||||||||
| Net loss | $ | (12,498 | ) | $ | (9,665 | ) | $ | (47,123 | ) | $ | (46,889 | ) | |||
| Net loss per share — basic and diluted | $ | (0.28 | ) | $ | (0.22 | ) | $ | (1.05 | ) | $ | (1.08 | ) | |||
| Weighted average common shares outstanding — basic and diluted | 44,619,124 | 43,768,689 | 44,679,341 | 43,575,705 | |||||||||||
RAPID MICRO BIOSYSTEMS, INC.
Unaudited Condensed Consolidated Balance Sheets
(in thousands)
| December 31, | |||||
| 2025 | 2024 | ||||
| Assets | |||||
| Current assets: | |||||
| Cash and cash equivalents | $ | 20,030 | $ | 16,911 | |
| Short-term investments | 18,266 | 33,821 | |||
| Accounts receivable | 3,134 | 7,519 | |||
| Inventory, net | 17,593 | 20,200 | |||
| Prepaid expenses and other current assets | 2,145 | 2,466 | |||
| Total current assets | 61,168 | 80,917 | |||
| Property and equipment, net | 8,972 | 11,193 | |||
| Right-of-use assets | 4,109 | 5,163 | |||
| Long-term investments | — | — | |||
| Other long-term assets | 319 | 531 | |||
| Restricted cash | 284 | 365 | |||
| Total assets | $ | 74,852 | $ | 98,169 | |
| Liabilities and Stockholders’ Equity | |||||
| Current liabilities: | |||||
| Accounts payable | $ | 4,139 | $ | 2,535 | |
| Accrued expenses and other current liabilities | 8,316 | 7,217 | |||
| Deferred revenue | 4,734 | 6,599 | |||
| Lease liabilities, short-term | 1,298 | 1,214 | |||
| Total current liabilities | 18,487 | 17,565 | |||
| Notes payable, net | 18,902 | — | |||
| Warrant liability | 186 | — | |||
| Lease liabilities, long-term | 3,674 | 4,954 | |||
| Other long-term liabilities | 397 | 298 | |||
| Total liabilities | 41,646 | 22,817 | |||
| Total stockholders’ equity | 33,206 | 75,352 | |||
| Total liabilities and stockholders’ equity | $ | 74,852 | $ | 98,169 | |
RAPID MICRO BIOSYSTEMS, INC.
Unaudited Cash, Cash Equivalents, Investments and Restricted Cash
(in thousands)
| Year Ended December 31, | |||||
| 2025 | 2024 | ||||
| Cash and cash equivalents | $ | 20,030 | $ | 16,911 | |
| Short-term investments | 18,266 | 33,821 | |||
| Restricted cash | 284 | 365 | |||
| Cash, cash equivalents, investments and restricted cash | $ | 38,580 | $ | 51,097 | |
RAPID MICRO BIOSYSTEMS, INC.
Unaudited Product Gross Margin to Non-GAAP Adjusted Product Gross Margin Reconciliation and Calculation of Product Gross Margin Percentage and Non-GAAP Adjusted Product Gross Margin Percentage
(in thousands)
| Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Product revenue | $ | 9,309 | $ | 5,223 | $ | 23,426 | $ | 18,728 | |||||||
| Cost of product revenue | 10,073 | 5,637 | 25,979 | 21,041 | |||||||||||
| Product gross margin | (764 | ) | (414 | ) | (2,553 | ) | (2,313 | ) | |||||||
| Write-off of unusable inventory and related warranty expense | 1,122 | — | 1,122 | — | |||||||||||
| Non-GAAP adjusted product gross margin | $ | 358 | $ | (414 | ) | $ | (1,431 | ) | $ | (2,313 | ) | ||||
| Product gross margin percentage | (8 | )% | (8 | )% | (11 | )% | (12 | )% | |||||||
| Non-GAAP adjusted product gross margin percentage | 4 | % | (8 | )% | (6 | )% | (12 | )% | |||||||
RAPID MICRO BIOSYSTEMS, INC.
Unaudited Total Gross Margin to Non-GAAP Adjusted Total Gross Margin
Reconciliation and Calculation of Total Gross Margin Percentage
and Non-GAAP Adjusted Total Gross Margin Percentage
(in thousands)
| Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Total revenue | $ | 11,282 | $ | 8,218 | $ | 33,587 | $ | 28,051 | |||||||
| Cost of product revenue | 10,073 | 5,637 | 25,979 | 21,041 | |||||||||||
| Cost of service revenue | 1,538 | 1,599 | 6,561 | 7,119 | |||||||||||
| Total gross margin | (329 | ) | 982 | 1,047 | (109 | ) | |||||||||
| Write-off of unusable inventory and related warranty expense | 1,122 | — | 1,122 | — | |||||||||||
| Non-GAAP adjusted total gross margin | $ | 793 | $ | 982 | $ | 2,169 | $ | (109 | ) | ||||||
| Total gross margin percentage | (3 | )% | 12 | % | 3 | % | — | % | |||||||
| Non-GAAP adjusted total gross margin percentage | 7 | % | 12 | % | 6 | % | — | % | |||||||
Investor Contact: Michael Beaulieu, CFA Vice President, Investor Relations and Corporate Communications investors@rapidmicrobio.com Media Contact: media@rapidmicrobio.com