Rapid Micro Biosystems, Inc.

rapidmicrobio.com

What Do They Do?

Sells automated microbial quality-control systems, consumables and support services to pharmaceutical manufacturers.

How Do They Make Money?

Customers buy Growth Direct systems, software and consumables, generally paying 30 to 90 days after shipment or delivery. Service contracts are paid over time; validation and field services are earned as milestones are reached.

revenue

Segment	Share	Revenue	How money arrives
Product Sold outright	70% FY2022: 65%		Sold outright
Service	30% FY2022: 35%

Who Are Their Customers?

Pharmaceutical manufacturers are served by direct sales teams, with distributors supporting some territories. MilliporeSigma also has rights to sell the products into industrial quality-control markets worldwide.

Do Revenues Turn Into Profits?

No. It lost $47.1M in FY2025.

Operating income, FY2025

−141% of revenue

▼ −5% (Loss) vs FY2024 (−$49.9M, −178%)

Net income, FY2025

−140% of revenue

▲ 0% (Loss) vs FY2024 (−$46.9M, −167%)

Free cash flow, FY2025

−95% of revenue

▼ −30% (Loss) vs FY2024 (−$45.5M, −162%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +11%; vs $7.3M in Q2 FY2025
Net income: ▲ +9% (Loss); vs −$11.9M in Q2 FY2025

Product share of revenue vs 66.1% in Q2 FY2025

Growing. Revenue grew 45% in 4 years, from $23.2M in FY2021 to $33.6M in FY2025, about 10% a year.

Expanded sales channels The earlier report described direct sales in North America and Europe; the latest adds direct sales in Asia-Pacific and distributor support in some territories.

Revenue over time

Product Service Non-Commercial Revenue

$50M$25M$0

FY2021 FY2022 FY2023 FY2024 FY2025

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