Rapid Micro Biosystems (RPID) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $8.1 million, up 11% year-over-year, with recurring revenue growing 14% and consumable revenue up over 20%.

• Gross margin improved to a record 15% in Q2 2026, up from 3.8% in Q2 2025, driven by higher consumables sales and improved product and service margins.

• Net loss for Q2 2026 was $12.9 million ($0.27 per share), flat year-over-year.

• Four Growth Direct Systems were placed and nine system validations completed in Q2 2026, achieving the 200th system milestone.

• Raised $8.8 million in an underwritten offering and $0.1 million from a direct offering to insiders in May 2026.

Financial highlights

• Product revenue was $5.3 million (up 10.1% YoY); service revenue was $2.8 million (up 12.5% YoY) in Q2 2026.

• Gross margin for Q2 2026 was $1.2 million (15%), up from $0.3 million (3.8%) in Q2 2025.

• Adjusted EBITDA loss was $10.3 million, slightly higher than $10.1 million in Q2 2025.

• Operating expenses rose 8.9% year-over-year to $13.5 million, mainly due to non-recurring corporate expenses and higher headcount.

• Cash, cash equivalents, and short-term investments totaled approximately $20 million at quarter end.

Outlook and guidance

• Full-year 2026 revenue guidance reaffirmed at $37–$41 million, with 30–38 system placements.

• Full-year gross margin guidance reaffirmed at approximately 20%, with H2 2026 margins expected in the mid-20% range.

• Increased full-year system validation guidance to at least 27.

• Q3 2026 revenue expected at least $9.5 million, with at least seven system placements.

• Cost reduction actions in August 2026 expected to yield $3 million in annual savings for 2027 and $1 million for the remainder of 2026.