Rapid Micro Biosystems Q2 revenue up 32% to $6.6M; Nasdaq transfer due to bid price deficiency

RAPID MICRO BIOSYSTEMS, INC.

2024-Q2 EPS reported -$0.60 revenue$12,229,000

Q2 revenue $6.6M (+32% YoY); net loss $12.6M ($0.29 loss per share) vs $14.0M loss a year ago.
Gross margin improved 35pp vs Q2 2023; five Growth Direct systems placed; 150th system with top 15 pharma.
Operational efficiency program: ~$7M annual savings; workforce reduction; aiming for positive cash flow by end-2027.
Stock to transfer from Nasdaq Global Select to Nasdaq Capital Market on Aug 5 due to bid price <$1; 180-day compliance period.
Reaffirms FY2024 revenue guidance >=$27M (>=20% growth) and at least 20 system placements.

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