Rapid Micro Biosystems Files 2023 Annual Report on Form 10-K

TL;DR

<b>Rapid Micro Biosystems, Inc. has submitted its 2023 10-K filing, detailing financial performance and key balance sheet items.</b>

AI Summary

RAPID MICRO BIOSYSTEMS, INC. (RPID) filed a Annual Report (10-K) with the SEC on March 1, 2024. The company filed its annual report for the fiscal year ended December 31, 2023. The filing includes financial data for the fiscal years 2023, 2022, and 2021. Key financial statement components like Common Stock, Additional Paid-In Capital, Retained Earnings, and Accumulated Other Comprehensive Income are detailed for these years. The report specifies share counts for Common Class A and Common Class B members as of December 31, 2023, and December 31, 2022. Business address and phone number are listed as 1001 Pawtucket Blvd., Lowell, MA 01854 and 978-349-3200 respectively.

Why It Matters

For investors and stakeholders tracking RAPID MICRO BIOSYSTEMS, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Rapid Micro Biosystems' financial position and results of operations for the fiscal year 2023, allowing investors to assess the company's performance and stability. The detailed breakdown of financial components and share information enables stakeholders to understand the company's capital structure and equity changes over the past three fiscal years.

Risk Assessment

Risk Level: medium — RAPID MICRO BIOSYSTEMS, INC. shows moderate risk based on this filing. The company's financial statements are presented for the fiscal years ending December 31, 2023, 2022, and 2021, indicating a need to analyze trends and potential volatility over this period.

Analyst Insight

Review the detailed financial statements and balance sheet components within the 10-K to understand Rapid Micro Biosystems' financial health and operational performance trends.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported fiscal year end date)
• 2024-03-01 — Filing Date (Date the 10-K was filed)
• 2023-01-01 — Fiscal Year Start (Start date of the reported fiscal year)
• 2022-12-31 — Prior Year End (End date of the previous fiscal year)
• 2021-12-31 — Prior Year End (End date of the fiscal year prior to 2022)

Key Players & Entities

• RAPID MICRO BIOSYSTEMS, INC. (company) — Filer name
• 0001380106 (company) — Central Index Key
• 3826 (company) — Standard Industrial Classification Code
• MA (company) — State of Incorporation
• 1001 PAWTUCKET BLVD. (company) — Business Address Street 1
• LOWELL (company) — Business Address City
• 01854 (company) — Business Address ZIP
• 978-349-3200 (company) — Business Phone

FAQ

Key Dates

• 2024-03-01: 10-K Filing — Submission of the annual report for the fiscal year ended December 31, 2023.

Key Financial Figures

• $0.01 — which registered Class A common stock, $0.01 par value per share RPID The Nasdaq Gl
• $0 — trant's Class A common stock, par value $0.01, outstanding as of February 28, 2024

Filing Documents

• rmb-20231231.htm (10-K) — 1647KB
• rpid-ex47_descriptionofcap.htm (EX-4.7) — 32KB
• ex1020_rpidxsecondamendeda.htm (EX-10.20) — 20KB
• ex1021_2023inducementplana.htm (EX-10.21) — 3KB
• ex191_rpidxsecondamendedan.htm (EX-19.1) — 91KB
• rpidexhibit231-consent_2023.htm (EX-23.1) — 2KB
• rpid-20231231xex311.htm (EX-31.1) — 11KB
• rpid-20231231xex312.htm (EX-31.2) — 11KB
• rpid-20231231xex321.htm (EX-32.1) — 5KB
• rpid-20231231xex322.htm (EX-32.2) — 5KB
• ex971_rpid-compensationrec.htm (EX-97.1) — 31KB
• 0001380106-24-000073.txt (&nbsp;) — 9071KB
• rmb-20231231.xsd (EX-101.SCH) — 54KB
• rmb-20231231_cal.xml (EX-101.CAL) — 95KB
• rmb-20231231_def.xml (EX-101.DEF) — 288KB
• rmb-20231231_lab.xml (EX-101.LAB) — 854KB
• rmb-20231231_pre.xml (EX-101.PRE) — 542KB
• rmb-20231231_htm.xml (XML) — 1248KB

Business

Business 7 Item 1A.

Risk Factors

Risk Factors 21 Item 1B. Unresolved Staff Comments 50 Item 2.

Properties

Properties 51 Item 3.

Legal Proceedings

Legal Proceedings 51 Item 4. Mine Safety Disclosures 51 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 52 Item 6. Reserved 52 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 53 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 66 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 66 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 66 Item 9A.

Controls and Procedures

Controls and Procedures 66 Item 9B. Other Information 67 Item 9C. Disclosures Regarding Foreign Jurisdictions that Prevent Inspections 67 PART III Item 10. Directors, Executive Officers and Corporate Governance 68 Item 11.

Executive Compensation

Executive Compensation 68 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 68 Item 13. Certain Relationships and Related Transactions, and Director Independence 68 Item 14. Principal Accountant Fees and Services 68 PART IV Item 15. Exhibits and Financial Statement Schedules 68 Item 16. Form 10-K Summary 68 Exhibit Index 69

Signatures

Signatures 72 Index to Consolidated Financial Statements F- 1 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. All statements other than statements of historical facts contained in this Annual Report on Form 10-K may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "forecasts," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements regarding: our business strategy for our Growth Direct platform and systems; our future results of operations and financial position, including our expectations regarding revenue, gross margin, operating expenses and ability to generate positive cash flow; our expectations and assumptions related to our future funding requirements and available capital resources, which may be impacted by market uptake of our Growth Direct system, our management of inventory and supply chain, our capital expenditures, our research and development activities and the expansion of our sales, marketing, manufacturing and distribution capabilities; our ability to maintain and expand our customer base for our Growth Direct platform and systems; the effectiveness of enhancements of sales force and our sales processes; anticipated trends and growth rates in our business and in the markets in which we operate; our research and development activities and prospective new features, products and product approvals; our ability to

Business

Item 1. Business. Defining the future of pharmaceutical quality control We are leading a global transformation toward fully automated microbial quality control within pharmaceutical manufacturing. Our products safeguard the most complex and critical bioprocessing workflows in the industry, enabling faster, safer, and higher capacity drug production. Through our unique expertise at the intersection of microbiology, robotic systems, and advanced vision algorithms, we are setting the foundation for end-to-end quality control automation to enable the future of advanced pharmaceutical manufacturing. Overview We are an innovative life sciences technology company providing mission critical automation solutions to facilitate the efficient manufacturing and fast, safe release of healthcare products such as biologics and cell and gene therapies, vaccines, and sterile injectables. Our flagship Growth Direct platform automates and modernizes the antiquated, manual microbial quality control, or MQC, testing workflows used in the largest and most complex pharmaceutical manufacturing operations across the globe. The Growth Direct platform brings the quality control lab to the manufacturing floor, unlocking the power of MQC automation to deliver the faster results, greater accuracy, increased operational efficiency, better compliance with data integrity regulations, and quicker decision making that our customers rely on to ensure safe, consistent and timely supply of important healthcare products. Our Growth Direct platform is the only fully automated, high-throughput and secure MQC solution. Developed with over 15 years of active feedback from our customers, Growth Direct was purpose-built to meet the MQC challenges posed by the increasing scale, complexity, and regulatory scrutiny confronting global pharmaceutical manufacturers. Our platform delivers the robust and scalable automation necessary to support rapidly expanding demand for novel and complex therapeutic modalities,

View Full Filing

View this 10-K filing on SEC EDGAR