Rapid Micro Biosystems Q2 revenue $3.9M; lowers FY22 outlook to ≥$17M, cuts 20% workforce

RAPID MICRO BIOSYSTEMS, INC.

2022-Q2 EPS reported -$0.66 revenue$8,020,000

Q2 commercial revenue $3.9M vs $5.7M YoY; net loss $13.1M ($0.31 loss per share).
Full-year 2022 revenue guidance reduced to at least $17.0M (from prior higher outlook); expects 3-5 system placements in H2.
Implements restructuring: 20% workforce reduction, $1.5M charge in Q3, expected $8-9M annualized cost savings.
CCO Andy Keys departs; CEO Robert Spignesi assumes commercial leadership.
Board launches strategic alternatives review; rejects Kennedy Lewis $5.00/share acquisition proposal.

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Executive movements

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Departed

Richard Keys

Chief Commercial Officer

RPID · RAPID MICRO BIOSYSTEMS, INC.

Effective: 2022-08-11
Filed: August 12, 2022, 7:59 PM ET

Mr. Keys’ last date of employment with the Company as its Chief Commercial Officer was August 11, 2022

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Richard Keys resigned as Chief Commercial Officer at RAPID MICRO BIOSYSTEMS, INC..

Action: resigned
Role: Chief Commercial Officer

Exact text from the filing

Mr. Keys’ last date of employment with the Company as its Chief Commercial Officer was August 11, 2022

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Source: SEC EDGAR

accession 0001558370-22-013401

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