In This Article:
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Total Revenue: $8.2 million in Q4 2024, a 30% year-over-year increase.
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Recurring Revenue: $4.2 million, a 27% increase compared to the prior year quarter.
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Growth Direct System Placements: 6 systems placed in Q4, totaling 21 for the full year 2024.
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Cumulative System Placements: 162 Growth Direct systems placed globally by the end of 2024.
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Gross Margin: Improved to 12% in Q4 2024, up from 8% in Q3 and a 15 percentage point improvement from the prior year quarter.
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Product Revenue: $5.2 million in Q4 2024, a 27% increase from Q4 2023.
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Service Revenue: $3 million in Q4 2024, a 35% increase from Q4 2023.
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Net Loss: $9.7 million in Q4 2024, compared to $11.2 million in Q4 2023.
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Net Loss Per Share: $0.22 in Q4 2024, compared to $0.26 in Q4 2023.
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Cash and Investments: Approximately $51 million at the end of 2024.
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2025 Revenue Guidance: At least $32 million for the full year.
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2025 System Placements Guidance: Between 21 and 25 systems.
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2025 Cash Burn Guidance: Approximately $30 million, a $14 million reduction from 2024.
Release Date: February 28, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Rapid Micro Biosystems Inc (NASDAQ:RPID) reported a 30% year-over-year revenue growth in Q4 2024, reaching a record $8.2 million.
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The company placed six Growth Direct systems in Q4, bringing the total to 21 system placements for the full year.
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Gross margins improved to 12% in Q4, up from 8% in the previous quarter, reflecting progress in cost structure and operating leverage.
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A new global distribution and collaboration agreement with Millipore Sigma is expected to enhance system placements and improve supply chain efficiencies.
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The partnership with Millipore Sigma is anticipated to significantly expand Growth Direct's reach and increase its total addressable market.
Negative Points
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Despite the revenue growth, the company reported a net loss of $9.7 million in Q4 2024.
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Product margins were only 8% in Q4, a decrease from 14% in Q4 2023.
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The guidance for 2025 does not assume any contribution from the Millipore Sigma partnership, reflecting uncertainty in immediate impact.
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There is ongoing uncertainty around the timing and scale of customer purchase decisions, particularly for larger multi-system opportunities.
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The company expects to burn approximately $30 million in cash for the full year 2025, indicating continued financial pressure.
Q & A Highlights
Q: Rob, do you think that the Millipore relationship accelerates your entry into new areas that maybe you're not focused on now? A: Robert Spignesi, President, CEO: Yes, the Millipore Sigma team is well positioned in adjacent markets such as personal care and cosmetics, which are meaningful in size. This partnership is a fundamental part of our strategy to expand into these areas.