Rapid Micro Biosystems Q1 commercial revenue $4.2M, down from $4.8M; reaffirms FY2022 revenue $27-32M

RAPID MICRO BIOSYSTEMS, INC.

2022-Q1 EPS reported -$0.35 revenue$4,160,000

Commercial revenue $4.2M (Q1 2021: $4.8M, including $0.2M BARDA); recurring revenue up 66% to $2.7M.
Net loss ($14.9M) vs ($22.1M) prior year; EPS ($0.35) reflecting higher share count after IPO.
Cash and investments $184.2M, no debt; reaffirms FY2022 revenue guidance $27-32M (growth 25-50%).
Placed 2 systems, completed validation of 9 systems; expects Q2 system placements similar to Q1.
Beta testing of rapid sterility system with global top 20 pharma expected to begin later in Q2.

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