Rapid Micro Biosystems (RPID) Q4 2025 earnings summary

Executive summary

• Q4 2025 revenue reached $11.3 million, up 37% year-over-year, setting a quarterly record and exceeding guidance.

• Full-year 2025 revenue was $33.6 million, up 20% from 2024.

• Major multi-system orders from Amgen in Q4 2025 and Samsung Biologics in Q1 2026 highlight strong commercial momentum.

• 28 Growth Direct systems placed and 18 validated in 2025, ending the year with 190 systems globally, 155 fully validated.

• Strategic partnership with MilliporeSigma progressing, supporting global expansion and system placements.

Financial highlights

• Q4 2025 product revenue rose 78% to $9.3 million, driven by system placements.

• Q4 2025 service revenue was $2 million, down 34% year-over-year.

• Q4 2025 recurring revenue increased 10% to $4.6 million; non-recurring revenue up 65% to $6.7 million.

• Q4 2025 gross margin was -3% (7% adjusted for inventory write-off); full-year 2025 gross margin was 3% (6% adjusted).

• Q4 2025 net loss was $12.5 million ($0.28/share); full-year 2025 net loss was $47.1 million ($1.05/share).

• Ended year with $39 million in cash and investments, plus $25 million unused debt capacity.

Outlook and guidance

• 2026 revenue guidance: $37–$41 million, with 30–38 system placements expected.

• Q1 2026 revenue expected at least $7.5 million, with at least five system placements.

• Full-year gross margin expected at ~20%, with Q4 exit rate in the mid-20% range or better.

• Operating expenses projected at $47–$51 million for 2026; $10 million in non-cash expenses.

• At least 25 validations planned for 2026.