Revenue Growth
Total revenue of $8.0M in Q1 2026, up 11% year-over-year (from $7.2M). Full-year 2026 revenue guidance reaffirmed at $37M to $41M.
Strong Product and Consumables Performance
Product revenue rose 36% year-over-year to $5.6M (driven by systems and consumables). Consumables grew more than 30% and drove a record quarter for consumables.
Recurring Revenue Expansion
Recurring revenue increased 28% year-over-year to $5.1M and represented 63% of total revenue in Q1, showing greater revenue stability and higher attach-rate trends.
System Placement Momentum
Placed 6 Growth Direct systems in the quarter (vs. 3 in Q1 2025); 196 systems placed globally as of March 31, 2026, including 160 fully validated systems. Multisystem follow-on order from Samsung Biologics highlighted large-customer traction.
Margin Improvement Trajectory
Total Q1 gross margin was 5% (in line with guidance) and product margin improved materially to negative 8% from negative 23% a year ago (15 percentage-point improvement). Consumable margins improved ~33 percentage points due to material cost reductions and manufacturing productivity.
Strategic Partnership with MilliporeSigma
Expanded collaboration includes Rapid Micro as exclusive provider of validation, qualification and maintenance services for Growth Direct systems sold by MilliporeSigma; progressing toward supply agreement expected to improve consumable sourcing and margins and expand addressable markets (pharma, personal care, medical devices).
Geographic and Commercial Progress
First Growth Direct placed in China plus placements in Singapore and Australia; hosted Japan Growth Direct Day and planned North America Growth Direct Day (sponsored by Amgen) to accelerate customer adoption and reference-site building.