Rapid Micro Biosystems Q3 commercial revenue $4.7M, net loss $16.3M, reaffirms FY2022 guidance

RAPID MICRO BIOSYSTEMS, INC.

2022-Q3 EPS reported -$1.05 revenue$12,759,000

Commercial revenue $4.7M (down 25% YoY from $6.3M); recurring revenue up 34% to $2.9M.
Placed 3 Growth Direct systems in Q3 vs 10 in prior year; validated 4 customer systems.
Net loss $16.3M ($0.38/share) vs $25.0M ($0.71) in Q3 2021; ops expenses rose on strategic review and restructuring.
Reaffirms FY2022 revenue at least $17M; expects at least 2 system placements in Q4.
Cash $150.1M, no debt; strategic review ongoing; restructuring plan targets $8-9M annual savings by Q1 2023.

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