Rapid Micro Biosystems Reports Second Quarter 2026 Financial Results
Rhea-AI Summary
Rapid Micro Biosystems (Nasdaq: RPID) reported second quarter 2026 revenue of $8.1 million, up 10.9% from $7.3 million a year earlier. Product revenue rose to $5.3 million and service revenue to $2.8 million. Recurring revenue increased 14.3% to $5.0 million and represented 63% of total revenue, with consumable revenue growing more than 20% year over year.
The company achieved a record second-quarter gross margin of 15.0%, or $1.2 million, versus 3.8% in 2025, as total cost of revenue declined 2.1% to $6.8 million. Rapid Micro Biosystems placed four new Growth Direct systems, completed nine validations, and reached its 200th system placed globally. Net loss was $12.9 million, or $0.27 per share, and non-GAAP adjusted EBITDA loss was $10.3 million. Cash, cash equivalents and short-term investments totaled approximately $20.1 million at June 30, 2026. The company reaffirmed 2026 revenue guidance of $37.0–$41.0 million, gross margin of about 20%, and raised system validation guidance to at least 27.
Positive
- Total revenue $8.1M, up 10.9% year-over-year in Q2 2026
- Recurring revenue $5.0M, up 14.3% year-over-year and 63% of total revenue
- Consumable revenue grew more than 20% year-over-year in Q2 2026
- Gross margin 15.0% vs. 3.8% in Q2 2025; cost of revenue down 2.1%
- 200th Growth Direct system placed globally; four placements and nine validations in quarter
- 2026 revenue guidance reaffirmed at $37.0–$41.0M with gross margin ~20%
- System validation guidance increased to at least 27 in 2026, up from 25
Negative
- Net loss $12.9M in Q2 2026 vs. $11.9M a year ago; EPS steady at $(0.27)
- Non-GAAP adjusted EBITDA loss $10.3M vs. $10.1M in Q2 2025
- Total operating expenses $13.5M, up 8.9% year-over-year in Q2 2026
- Cash, investments and restricted cash $20.1M vs. $38.6M at December 31, 2025
- Interest expense $646K in Q2 2026 vs. $12K in Q2 2025
- Stockholders’ equity $17.7M at June 30, 2026 vs. $33.2M at year-end 2025
News Explained
At June 30, the balance sheet reported notes payable alongside reported cash, investments and restricted cash.
For historical context, the first-quarter cash balance of
Sources and calculations
- Second-quarter 2026 financial results release (2026-08-07)
- First-quarter 2026 fundamentals (2026Q1)
- Cash and equivalents vs quarterly operating cash outflow, in days of cash use $13,815,000 / ($15,058,000 / 90) = [object Object]
Market reaction after 2Q26 earnings report: RPID -12.98%
Following this news, RPID has declined 12.98%, reflecting a significant negative market reaction. Argus tracked a trough of -16.2% from its starting point during tracking. Our momentum scanner has triggered 22 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $1.81. Trading volume is exceptionally heavy at 5.1x the average, suggesting significant selling pressure.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 13 | 1Q26 earnings | Positive | -6.5% | Revenue grew, but net loss widened and the stock declined 6.45%. |
| Mar 12 | FY25 earnings | Positive | -21.8% | Record revenue and 2026 guidance accompanied a 21.8% stock decline. |
| Nov 07 | 3Q25 earnings | Positive | +12.7% | Raised guidance and a major order accompanied a 12.73% gain. |
| Aug 12 | 2Q25 earnings | Positive | -17.8% | Revenue and margin improved, but the stock declined 17.79%. |
| May 09 | 1Q25 earnings | Positive | +25.7% | Revenue and margin improved while the stock gained 25.71%. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings-tag reactions were mixed and often negative despite operationally positive reported metrics.
Key Terms
non-gaap adjusted ebitda financial
gaap financial
regulation fd regulatory
stock-based compensation financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Reports second quarter 2026 total revenue of
$8.1 million , representing11% growth compared to the second quarter of 2025- Achieved a significant milestone with the 200th Growth Direct system placed globally; placed four Growth Direct systems and completed nine validations in the second quarter 2026
- Second quarter consumable revenue increased more than
20% year-over-year - Second quarter recurring revenue increased
14% year-over-year; comprised63% of total revenue
- Reports record second quarter total gross margin of
15% , an increase of 11 percentage points compared to the second quarter of 2025 - Merck MilliporeSigma to host European Growth Direct Day in October 2026, supporting customer engagement, education, and commercial pipeline development across Europe
- Reaffirms full year 2026 total revenue guidance range of
$37.0 million to$41.0 million , including 30 to 38 Growth Direct system placements - Reaffirms full year 2026 gross margin percentage guidance of approximately
20% , with second half 2026 margins in the mid-20% range
LEXINGTON, Mass., Aug. 07, 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 second quarter ended June 30, 2026.
"Our second quarter results reflect continued execution against the strategic and financial priorities we outlined at the beginning of the year," said Robert Spignesi, President and CEO. "Total revenue increased
Spignesi continued, "As we look to the second half of 2026, we remain encouraged by strong customer engagement, continued momentum in multi-system and enterprise deployment opportunities, and an expanding contribution from our collaboration with MilliporeSigma. Combined with favorable industry tailwinds, including increased adoption of automation and ongoing U.S. reshoring and biomanufacturing capacity expansion, we believe we are well positioned to achieve our full-year objectives and enter 2027 with positive momentum."
Second Quarter Financial Results
Total revenue for the second quarter of 2026 increased
Total cost of revenue was
Total operating expenses increased by
Net loss for the second quarter of 2026 was
Non-GAAP adjusted EBITDA loss for the second quarter of 2026 was
Cash, cash equivalents, and short-term investments were approximately
Full Year 2026 Outlook
The Company is reaffirming its full year 2026 total revenue guidance range of
Webcast Details
The Company will host a conference call before the market opens today, August 7, 2026, at 8:30 a.m. ET to discuss its second quarter 2026 financial results. The live call is accessible on the Company’s website at 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.
Rapid Micro Biosystems intends to use the Investor Relations page of its website as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor its website in addition to following press releases, filings with the Securities and Exchange Commission (“SEC”), public conference calls, presentations and webcasts.
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 EBITDA," which is a non-GAAP financial measure. The Company defines non-GAAP adjusted EBITDA as net loss excluding interest income, interest expense, other expense, net, income tax expense, depreciation and amortization, and stock-based compensation.
The Company includes this non-GAAP financial measure because it believes it allows 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 EBITDA can provide useful measures for period-to-period comparisons of the Company’s core business. This non-GAAP financial measure has limitations as an analytical tool, including the fact that such non-GAAP financial measure may not be comparable to a similarly titled measure presented by other companies because other companies may calculate non-GAAP EBITDA differently than the Company does. For more information regarding this non-GAAP financial measure, see the table 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, including with respect to full year 2026 total revenue, gross margin, number of Growth Direct placements and system validations; statements regarding the Company's achievement of its full year objectives, and the Company's growth outlook in future periods.
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 risks related to, the Company's ability to achieve positive cash flow; the Company's ability to achieve its business objectives; 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 Company's ability to fulfill customer orders on its anticipated timelines or at all; the impact of the Company's existing and any future indebtedness on its ability to operate its business; the Company’s ability to access any future tranches under its debt facility and to comply with all of its obligations thereunder; the Company’s limited experience in marketing and sales and the effectiveness of its sales processes; the Company’s need to develop new products and adapt to technological changes; the Company’s ability to establish and maintain its position as a leading provider of automated microbial quality control testing; the Company’s ability to maintain its manufacturing facility; the Company's ability to improve the gross margins of its products and services; 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; risks associated with macroeconomic events and uncertainty, including with respect to tariff and trade policy in the U.S. and abroad, as well as activity in the Company's industry and in the general economy; and the other important factors outlined under the caption “Risk Factors” in the Company’s Quarterly Report on Form 10-Q filed with the SEC, 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 Condensed Consolidated Statements of Operations (in thousands, except share and per share amounts) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenue: | ||||||||||||||||
| Product revenue | $ | 5,286 | $ | 4,802 | $ | 10,864 | $ | 8,903 | ||||||||
| Service revenue | 2,768 | 2,460 | 5,192 | 5,564 | ||||||||||||
| Total revenue | 8,054 | 7,262 | 16,056 | 14,467 | ||||||||||||
| Cost of revenue: | ||||||||||||||||
| Cost of product revenue | 5,434 | 5,315 | 11,459 | 10,344 | ||||||||||||
| Cost of service revenue | 1,408 | 1,672 | 3,014 | 3,444 | ||||||||||||
| Total cost of revenue | 6,842 | 6,987 | 14,473 | 13,788 | ||||||||||||
| Gross margin | 1,212 | 275 | 1,583 | 679 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 3,332 | 3,230 | 6,691 | 6,854 | ||||||||||||
| Sales and marketing | 3,436 | 3,114 | 6,858 | 5,865 | ||||||||||||
| General and administrative | 6,766 | 6,079 | 14,208 | 11,769 | ||||||||||||
| Total operating expenses | 13,534 | 12,423 | 27,757 | 24,488 | ||||||||||||
| Loss from operations | (12,322 | ) | (12,148 | ) | (26,174 | ) | (23,809 | ) | ||||||||
| Other income (expense): | ||||||||||||||||
| Interest income | 140 | 351 | 396 | 817 | ||||||||||||
| Interest expense | (646 | ) | (12 | ) | (1,285 | ) | (24 | ) | ||||||||
| Other expense, net | (50 | ) | (38 | ) | (82 | ) | (87 | ) | ||||||||
| Total other income (expense), net | (556 | ) | 301 | (971 | ) | 706 | ||||||||||
| Loss before income taxes | (12,878 | ) | (11,847 | ) | (27,145 | ) | (23,103 | ) | ||||||||
| Income tax expense | 45 | 11 | 53 | 18 | ||||||||||||
| Net loss | $ | (12,923 | ) | $ | (11,858 | ) | $ | (27,198 | ) | $ | (23,121 | ) | ||||
| Net loss per share — basic and diluted | $ | (0.27 | ) | $ | (0.27 | ) | $ | (0.58 | ) | $ | (0.52 | ) | ||||
| Weighted average common shares outstanding — basic and diluted | 48,346,663 | 44,648,602 | 47,008,322 | 44,321,566 | ||||||||||||
| RAPID MICRO BIOSYSTEMS, INC. Unaudited Condensed Consolidated Balance Sheets (in thousands) | ||||||
| June 30, 2026 | December 31, 2025 | |||||
| Assets | ||||||
| Current assets: | ||||||
| Cash and cash equivalents | $ | 14,687 | $ | 20,030 | ||
| Short-term investments | 5,079 | 18,266 | ||||
| Accounts receivable | 5,515 | 3,134 | ||||
| Inventory, net | 18,918 | 17,593 | ||||
| Prepaid expenses and other current assets | 2,063 | 2,145 | ||||
| Total current assets | 46,262 | 61,168 | ||||
| Property and equipment, net | 8,161 | 8,972 | ||||
| Right-of-use assets | 3,565 | 4,109 | ||||
| Other long-term assets | 178 | 319 | ||||
| Restricted cash | 284 | 284 | ||||
| Total assets | 58,450 | 74,852 | ||||
| Liabilities and Stockholders’ Equity | ||||||
| Current liabilities: | ||||||
| Accounts payable | $ | 5,177 | $ | 4,139 | ||
| Accrued expenses and other current liabilities | 6,123 | 8,316 | ||||
| Deferred revenue | 5,508 | 4,734 | ||||
| Lease liabilities, short-term | 1,342 | 1,298 | ||||
| Total current liabilities | 18,150 | 18,487 | ||||
| Lease liabilities, long-term | 2,997 | 3,674 | ||||
| Notes payable, net | 19,139 | 18,902 | ||||
| Warrant liability | 68 | 186 | ||||
| Other long-term liabilities | 348 | 397 | ||||
| Total liabilities | 40,702 | 41,646 | ||||
| Total stockholders’ equity | 17,748 | 33,206 | ||||
| Total liabilities and stockholders’ equity | $ | 58,450 | $ | 74,852 | ||
| RAPID MICRO BIOSYSTEMS, INC. Unaudited Cash, Cash Equivalents and Investments (in thousands) | ||||||
| June 30, 2026 | December 31, 2025 | |||||
| Cash and cash equivalents | $ | 14,687 | $ | 20,030 | ||
| Short-term investments | 5,079 | 18,266 | ||||
| Restricted cash | 284 | 284 | ||||
| Cash, cash equivalents, investments and restricted cash | $ | 20,050 | $ | 38,580 | ||
| RAPID MICRO BIOSYSTEMS, INC. Unaudited net Loss to Non-GAAP Adjusted EBITDA Loss Reconciliation (in thousands) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Net loss | $ | (12,923 | ) | $ | (11,858 | ) | $ | (27,198 | ) | $ | (23,121 | ) | ||||
| Interest income | (140 | ) | (351 | ) | (396 | ) | (817 | ) | ||||||||
| Interest expense | 646 | 12 | 1,285 | 24 | ||||||||||||
| Other expense, net | 50 | 38 | 82 | 87 | ||||||||||||
| Income tax expense | 45 | 11 | 53 | 18 | ||||||||||||
| Depreciation and amortization | 674 | 811 | 1,380 | 1,658 | ||||||||||||
| Stock-based compensation | 1,321 | 1,218 | 2,544 | 2,260 | ||||||||||||
| Non-GAAP adjusted EBITDA loss | $ | (10,327 | ) | $ | (10,119 | ) | $ | (22,250 | ) | $ | (19,891 | ) | ||||
Investor Contact Michael Beaulieu, CFA Vice President, Investor Relations and Corporate Communications investors@rapidmicrobio.com Media Contact media@rapidmicrobio.com