Rapid Micro Biosystems, Inc. Class A ( (RPID) ) has released its Q4 earnings. Here is a breakdown of the information Rapid Micro Biosystems, Inc. Class A presented to its investors.
Rapid Micro Biosystems, Inc., a life sciences technology company, specializes in providing automation solutions for microbial quality control in healthcare product manufacturing. The company reported a strong financial performance for the fourth quarter and full year 2024, with a notable 30% increase in fourth-quarter revenue compared to the previous year, and a 25% growth in total revenue for the year. Key achievements include a significant improvement in gross margins and a global Distribution and Collaboration Agreement with MilliporeSigma. Financial highlights reveal a record fourth-quarter revenue of $8.2 million, driven by a 27% increase in product revenue and a 35% rise in service revenue. The company also reported a decrease in operating expenses and a reduced net loss compared to the previous year. Looking ahead, Rapid Micro Biosystems aims to continue its growth trajectory by focusing on strategic priorities such as system placements, margin improvements, and product innovation, supported by its new collaboration with MilliporeSigma.