Rapid Micro Biosystems Reports Q1 2024 Financial Results
DENVER, Colo., May 03, 2024 (247marketnews.com)- Rapid Micro Biosystems, Inc. (Nasdaq:RPID) reported its first quarter financial results.
First quarter 2024 total revenue increased 11% to $5.6 million, compared to $5.0 million for the first quarter of 2023, while net loss for the first quarter of 2024 shrank to $13.3 million, compared to $13.9 million in the first quarter of 2023.
“We are pleased to report a solid start to 2024,” stated Rapid Micro Biosystems President and CEO, Robert Spignesi,. “First quarter revenues exceeded our guidance and we achieved a new record in consumable revenue in the period. We remain focused on accelerating Growth Direct® system placements, improving gross margins and driving the business to profitability. We are reaffirming our full year 2024 total revenue guidance as we look forward to the mid-year launch of our innovative Growth Direct Rapid Sterility platform.”
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