RPID Home Investment Highlights Valuation & Metrics Price Chart Why The Stock Moved Return vs. Risk About RPID Interactive Breakdown Better Bets vs. RPID Peer Outperformance Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Clinical Pipeline Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Investor Activity (13F) Trade Sentinel Investor Videos Industry Resource Links External Quote Links

    Rapid Micro Biosystems (RPID)

    Market Price (10/4/2026): $0.92 | Market Cap: $44.5 MilSector: Health Care | Industry: Life Sciences Tools & Services

    Rapid Micro Biosystems (RPID)

    Market Price (10/4/2026): $0.92
    Market Cap: $44.5 Mil
    Sector: Health Care
    Industry: Life Sciences Tools & Services

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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    Megatrend and thematic drivers
    Megatrends include Precision Medicine, Biotechnology & Genomics, and Automation & Robotics. Themes include Biopharmaceutical R&D, Show more.

    Key risks
    RPID key risks include [1] its significant cash burn and uncertain path to profitability, Show more.

    0 Megatrend and thematic drivers
    Megatrends include Precision Medicine, Biotechnology & Genomics, and Automation & Robotics. Themes include Biopharmaceutical R&D, Show more.
    1 Key risks
    RPID key risks include [1] its significant cash burn and uncertain path to profitability, Show more.

    RPID in ETFs

    Weight = RPID's share of each fund

    VTI0.00%
    DFAS0.00%

    Valuation & Metrics

    FYE: 12/31RPID [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$35.2 Mil—
    FY 2026 Sales$39.3 Mil—
    FY 2027 Sales$46.3 Mil—
    FY 2026 Sales Growth11.7%—
    FY 2027 Sales Growth17.9%12.8%
    EARNINGS
    LTM Net Income (GAAP) [3]$-51.2 Mil—
    FY 2026 Net Income (Non-GAAP)$-41.9 Mil—
    FY 2027 Net Income (Non-GAAP)$-31.9 Mil—
    FY 2027 Net Income Growth—18.2%
    FY 2026 EPS (Non-GAAP)$-0.94—
    FY 2027 EPS (Non-GAAP)$-0.71—
    FY 2027 EPS Growth——
    VALUATION
    FY 2026 P/S1.11.7
    FY 2027 P/S1.0—
    FY 2026 P/E—7.8
    FY 2027 P/E——

    [1] RPID forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 10/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
    RPIDS&P 500
    REVENUE GROWTHVERY GOOD
    Rev LTM ($ Bil)0.0
    Rev Chg Q10.9%9.3%
    Rev Chg LTM16.1%8.3%
    Rev Chg 3Y Avg22.6%5.8%
    PROFITABILITYVERY POOR
    Op Inc LTM ($ Bil)-0.0
    CFO LTM ($ Bil)-0.0
    Net Inc LTM ($ Bil)-0.1
    Op Mgn LTM-141.5%18.6%
    CFO/Rev LTM-113.9%21.8%
    Net Inc Mgn-145.6%13.1%
    VALUATIONLOW
    P/S1.43.0
    P/CFO-1.214.3
    P/FCF-1.218.6
    P/E-1.021.4
    STABILITYVERY GOOD
    Debt/Equity0.470.21
    Cash/Assets0.340.07

    AI Analysis | Feedback

    MetricValueDateSource
    Cumulative Growth Direct Systems Placed Globally1749302025Link
    Cumulative Growth Direct Systems Validated Globally1529302025Link
    New Growth Direct System Placements (Q3 2025)59302025Link
    Customer System Validations Completed (Q3 2025)49302025Link
    Full-Year 2025 Guidance for System PlacementsAt least 271172025Link
    Largest Multi-System Customer OrderReceived order from a Top 20 global biopharma customer for the largest multi-system order in the company's history.10312025Link

    Price Chart

    No Events

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 10/1/2026

    Rapid Micro Biosystems (RPID) stock has lost about 45% since 6/30/2026 because of the following key factors:

    1. Continued Unprofitability and Expanding Net Loss: Rapid Micro Biosystems reported an increased net loss of $12.9 million for fiscal Q2 2026, compared to a net loss of $11.9 million in fiscal Q2 2025. The adjusted EBITDA loss also slightly widened to $10.3 million from $10.1 million in the prior year period. This sustained unprofitability, with a trailing twelve months (TTM) earnings per share of -$1.12, likely contributed to negative investor sentiment despite revenue growth.

    2. Cash Burn and Potential Dilution Concerns: The company ended fiscal Q2 2026 with approximately $20 million in cash. While it has access to additional $10 million tranches from its credit facility, this access is contingent on operational milestones. An analyst model highlighted "Issuance," suggesting the company has been issuing shares or taking on financing, which can dilute existing shareholders. The target of achieving positive cash flow by the end of 2028 may be perceived as a lengthy timeline given current operational losses.

    Show more
    Updated on 10/1/2026

    Rapid Micro Biosystems (RPID) stock has lost about 45% since 6/30/2026 because of the following key factors:

    1. Continued Unprofitability and Expanding Net Loss: Rapid Micro Biosystems reported an increased net loss of $12.9 million for fiscal Q2 2026, compared to a net loss of $11.9 million in fiscal Q2 2025. The adjusted EBITDA loss also slightly widened to $10.3 million from $10.1 million in the prior year period. This sustained unprofitability, with a trailing twelve months (TTM) earnings per share of -$1.12, likely contributed to negative investor sentiment despite revenue growth.

    2. Cash Burn and Potential Dilution Concerns: The company ended fiscal Q2 2026 with approximately $20 million in cash. While it has access to additional $10 million tranches from its credit facility, this access is contingent on operational milestones. An analyst model highlighted "Issuance," suggesting the company has been issuing shares or taking on financing, which can dilute existing shareholders. The target of achieving positive cash flow by the end of 2028 may be perceived as a lengthy timeline given current operational losses.

    3. Mixed Analyst Sentiment and Rising Short Interest: Despite some analysts initiating or maintaining "Buy" ratings with price targets significantly above the current stock price, and Zacks upgrading the stock to a "Buy" in August 2026, the overall market consensus rating for RPID was a "Hold" as of late September 2026. Furthermore, short interest in Rapid Micro Biosystems recently increased by 8.16%, indicating a growing belief among some investors that the stock price will decline further.

    4. Modest Revenue Growth Against High Operating Expenses: Although Rapid Micro Biosystems reported fiscal Q2 2026 revenue of $8.1 million, an 11% increase year-over-year that exceeded guidance, and reaffirmed its full-year 2026 revenue guidance of $37 million to $41 million, this growth rate may not have been sufficient to offset concerns regarding its significant operating expenses and the extended timeline for achieving profitability. The company's total operating expenses in fiscal Q2 2026 were $13.5 million, higher than the $12.4 million in Q2 2025.

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    Stock Movement Drivers

    Fundamental Drivers

    The -46.8% change in RPID stock from 6/30/2026 to 10/1/2026 was primarily driven by a -44.6% change in the company's P/S Multiple.
    (LTM values as of)630202610012026Change
    Stock Price ($)1.730.92-46.8%
    Change Contribution By: 
    Total Revenues ($ Mil)34352.3%
    P/S Multiple2.31.3-44.6%
    Shares Outstanding (Mil)4548-6.0%
    Cumulative Contribution-46.8%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    6/30/2026 to 10/1/2026
    ReturnCorrelation
    RPID-46.8% 
    Market (SPY)2.3%20.2%
    Sector (XLV)4.8%9.7%

    Fundamental Drivers

    The -59.4% change in RPID stock from 3/31/2026 to 10/1/2026 was primarily driven by a -58.5% change in the company's P/S Multiple.
    (LTM values as of)331202610012026Change
    Stock Price ($)2.270.92-59.4%
    Change Contribution By: 
    Total Revenues ($ Mil)34354.7%
    P/S Multiple3.01.3-58.5%
    Shares Outstanding (Mil)4548-6.7%
    Cumulative Contribution-59.4%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    3/31/2026 to 10/1/2026
    ReturnCorrelation
    RPID-59.4% 
    Market (SPY)17.8%25.5%
    Sector (XLV)13.9%13.8%

    Fundamental Drivers

    The -72.4% change in RPID stock from 9/30/2025 to 10/1/2026 was primarily driven by a -74.3% change in the company's P/S Multiple.
    (LTM values as of)930202510012026Change
    Stock Price ($)3.340.92-72.4%
    Change Contribution By: 
    Total Revenues ($ Mil)303516.1%
    P/S Multiple4.91.3-74.3%
    Shares Outstanding (Mil)4548-7.6%
    Cumulative Contribution-72.4%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    9/30/2025 to 10/1/2026
    ReturnCorrelation
    RPID-72.4% 
    Market (SPY)15.6%27.3%
    Sector (XLV)21.0%22.6%

    Fundamental Drivers

    The -14.7% change in RPID stock from 9/30/2023 to 10/1/2026 was primarily driven by a -47.9% change in the company's P/S Multiple.
    (LTM values as of)930202310012026Change
    Stock Price ($)1.080.92-14.7%
    Change Contribution By: 
    Total Revenues ($ Mil)193583.7%
    P/S Multiple2.41.3-47.9%
    Shares Outstanding (Mil)4348-10.9%
    Cumulative Contribution-14.7%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    9/30/2023 to 10/1/2026
    ReturnCorrelation
    RPID-14.7% 
    Market (SPY)84.9%23.5%
    Sector (XLV)35.2%21.0%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    RPID Return-50%-89%-35%22%222%-63%-95%
    Peers Return37%-22%1%-10%4%20%22%
    S&P 500 Return27%-19%24%23%16%12%104%

    Monthly Win Rates [3]
    RPID Win Rate33%8%42%58%50%33% 
    Peers Win Rate72%37%50%40%52%60% 
    S&P 500 Win Rate75%42%67%75%67%44% 

    Max Drawdowns [4]
    RPID Max Drawdown--90%-51%-45%-49%-77% 
    Peers Max Drawdown-18%-35%-30%-25%-37%-32% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: TMO, DHR, BDX, CRL, RGEN.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 10/2/2026 (YTD)

    How Low Can It Go

    EventRPIDS&P 500
    2025 US Tariff Shock
      % Loss-46.8%-18.8%
      % Gain to Breakeven87.9%23.1%
      Time to Breakeven56 days79 days
    Summer-Fall 2023 Five Percent Yield Shock
      % Loss-10.1%-9.5%
      % Gain to Breakeven11.2%10.5%
      Time to Breakeven6 days24 days
    2023 SVB Regional Banking Crisis
      % Loss-36.2%-6.7%
      % Gain to Breakeven56.6%7.1%
      Time to Breakeven624 days31 days

    Compare to TMO, DHR, BDX, CRL, RGEN

    In The Past

    Rapid Micro Biosystems's stock fell -46.8% during the 2025 US Tariff Shock. Such a loss loss requires a 87.9% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    EventRPIDS&P 500
    2025 US Tariff Shock
      % Loss-46.8%-18.8%
      % Gain to Breakeven87.9%23.1%
      Time to Breakeven56 days79 days
    2023 SVB Regional Banking Crisis
      % Loss-36.2%-6.7%
      % Gain to Breakeven56.6%7.1%
      Time to Breakeven624 days31 days

    Compare to TMO, DHR, BDX, CRL, RGEN

    In The Past

    Rapid Micro Biosystems's stock fell -46.8% during the 2025 US Tariff Shock. Such a loss loss requires a 87.9% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Rapid Micro Biosystems (RPID)

    ```html

    Rapid Micro Biosystems (RPID) is a life sciences technology company focused on providing solutions for the detection of microbial contamination. The company's primary goal is to help manufacturers, particularly within the pharmaceutical, medical device, and personal care product sectors, ensure product safety and quality. It achieves this by automating and modernizing the traditionally manual processes involved in microbial quality control (MQC) testing.

    The core of RPID's offerings is its proprietary Growth Direct platform. This comprehensive system comprises the Growth Direct instrument, specialized consumables, software for integrating with lab information management systems (LIMS), and extensive customer support and validation services. The platform significantly enhances efficiency and accelerates critical test results by automating MQC workflows for various therapeutic modalities, including biologics, vaccines, cell and gene therapies, and sterile injectables.

    Rapid Micro Biosystems primarily serves highly regulated industries such as pharmaceuticals, medical devices, and personal care products across North America, Europe, and Asia. Its solutions are critical for essential testing applications like environmental monitoring, water testing, bioburden analysis, and sterility release testing, all of which are vital for maintaining compliance and ensuring the integrity of products in these sectors.

    ```

    AI Analysis | Feedback

    ```html
    • Imagine an Illumina, but instead of sequencing DNA, they provide automated systems and consumables for detecting microbial contamination in pharmaceutical and medical device manufacturing.
    • They're like the Cepheid (makers of the automated GeneXpert system) for industrial microbial quality control in manufacturing, bringing rapid, automated pathogen detection to factories instead of clinics.
    ```

    AI Analysis | Feedback

    • Growth Direct System: An automated system designed for rapid microbial detection in quality control workflows.
    • Proprietary Consumables: Specialized materials essential for the operation of the Growth Direct System.
    • Lab Information Management System (LIMS) Connection Software: Software that integrates the Growth Direct System with existing laboratory data management systems.
    • Installation and Verification Services: Services provided for the setup, installation, and confirmation of the proper functioning of the Growth Direct System.
    • Technical Training Services: Educational services offered to customers on the operation and maintenance of the Growth Direct System.
    • Customer Support and Validation Services: Comprehensive support and validation assistance provided for the Growth Direct Platform.

    AI Analysis | Feedback

    Rapid Micro Biosystems (RPID) sells primarily to other companies. Based on the provided background, its major customers are manufacturers in the following industries:
    • Pharmaceutical (including those producing biologics, vaccines, cell and gene therapies, and sterile injectables)
    • Medical devices
    • Personal care products

    AI Analysis | Feedback

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    AI Analysis | Feedback

    Robert Spignesi, President & CEO

    Robert Spignesi has over 20 years of leadership experience, having served as Vice President and General Manager, Americas, for the Microbiology Division of Thermo Fisher Scientific. He was also the VP of Global Strategy, Marketing, and Business Development for Fisher Scientific. Additionally, he held senior positions at McKesson Corporation and its affiliates, including EVP Operations and Development and National Vice President of Sales and Business Development. Earlier in his career, Mr. Spignesi was a senior consultant within the Life Sciences and Healthcare practice of Deloitte Consulting and an aviation officer with the U.S. Army.

    Sean Wirtjes, Chief Financial Officer

    Sean Wirtjes possesses over 30 years of broad financial experience in the healthcare and technology industries. Most recently, he was the Vice President, Finance and Controller of Asia Pacific, Middle East and Africa (AMEA) for Boston Scientific, a medical device manufacturer. Prior to that, he served as Vice President of Investor Relations at Boston Scientific and held progressive roles at Varian, Inc., including Vice President and Controller and Vice President, Finance and Treasurer. Mr. Wirtjes also served as Corporate Controller at Quova and began his career with PricewaterhouseCoopers, where he served emerging, high-growth clients across the healthcare and technology industries.

    John Wilson, Chief Operating Officer

    John Wilson brings over 20 years of experience from Medtronic and Becton Dickinson, most recently as the Vice President of Global Operations. He has held multiple leadership positions in quality, operational excellence, global operations, product development, and direct day-to-day plant management activities. Mr. Wilson also served in the U.S. Army.

    James Xu, Senior VP Legal & Secretary

    James Xu leads the global legal function at Rapid Micro Biosystems. Previously, he was a Partner in the life sciences business unit at Goodwin Procter LLP, a global law firm. During his 13 years at Goodwin, Mr. Xu advised numerous innovative and high-growth emerging companies in the healthcare industry, focusing on capital markets, corporate finance, public company reporting, and governance.

    Todd Ballantyne, VP Research & Development

    Todd Ballantyne has over 30 years of research and development experience in complex electro-mechanical systems for industries including life sciences, medical devices, machine vision, and defense. He previously led the Rapid Micro Biosystems software and vision teams. Before joining the company, Mr. Ballantyne led the Medtronic Hugo surgical robotics software team and the DEKA R&D Vivia hemodialysis systems team. He is a named inventor on patents related to computer backplane networking and surgical robotic arm control.

    AI Analysis | Feedback

    Here are the key risks to Rapid Micro Biosystems (RPID):

    1. Persistent Unprofitability and Financial Health Challenges: Rapid Micro Biosystems has consistently reported significant net losses and negative operating and net margins, resulting in an accumulated deficit of $522.4 million as of December 31, 2025. The company is also experiencing cash burn, which raises concerns about its long-term financial sustainability. A low Piotroski F-Score and Altman Z-Score further indicate potential operational challenges and financial distress.

    2. Barriers to Adoption of Rapid Microbial Methods (RMMs): Despite strong interest (93% of surveyed participants) in rapid sterility testing, the actual adoption rate of Rapid Microbial Methods (RMMs), including Rapid Micro Biosystems' Growth Direct system, remains relatively low at 28%. The primary hurdles hindering widespread adoption are the high cost of instruments and tests, the perceived complexity of the validation process, and the training requirements associated with new systems.

    3. Reliance on Large Multi-System Orders: The company's revenue growth is significantly dependent on securing and executing large, multi-system orders from major pharmaceutical manufacturers. This dependency introduces volatility and uncertainty, as evidenced by management's guidance that the lower end of their 2026 revenue projection assumes no new large multi-system orders beyond those already announced. The timing and scale of these substantial purchases pose an ongoing execution risk for the business.

    AI Analysis | Feedback

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    AI Analysis | Feedback

    The addressable markets for Rapid Micro Biosystems' main products and services are significant, primarily within the global microbial quality control (MQC) testing sector for pharmaceutical manufacturing.

    Rapid Micro Biosystems estimates its total addressable market (TAM) for its Growth Direct systems to be approximately $5.0 billion globally. Additionally, the company projects the market for annual recurring sales of its consumables and services, addressable by its MQC testing solutions, to also be approximately $5.0 billion globally. These estimates are based on a total global sales opportunity of an estimated 10,000 Growth Direct systems and approximately 350 million tests conducted annually that could be addressed by their solutions.

    The company operates within the broader global automated microbiology testing market, which was valued at approximately USD 7.62 billion in 2024 and is projected to grow to a substantial USD 21.71 billion by 2034, with a compound annual growth rate (CAGR) of around 10.71% from 2025 to 2034.

    Specifically for the pharmaceutical microbiology quality control (QC) testing market, which directly aligns with Rapid Micro Biosystems' offerings, the global market size was valued at USD 12.18 billion in 2024 and is projected to reach USD 40.85 billion by 2035, growing at a CAGR of 12.9%. North America held the largest share of this market, accounting for 39.10% in 2025.

    AI Analysis | Feedback

    Rapid Micro Biosystems (RPID) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

    • Accelerated Growth Direct System Placements: The company anticipates significant growth from the increased placement of its Growth Direct systems. Management has provided guidance for 30 to 38 system placements in 2026, building on strong commercial momentum, including multi-system orders from major pharmaceutical partners like Amgen and Samsung Biologics. These enterprise-level adoptions by larger biopharmaceutical manufacturers are crucial for expanding the installed base globally.
    • Expansion of Recurring Revenue from Consumables and Services: As the installed base of Growth Direct systems grows, the demand for proprietary consumables and comprehensive customer support and validation services is also expected to increase. Recurring revenue from these sources is already a significant portion of total revenue and is projected to expand, ensuring a consistent revenue stream.
    • Launch of New Product Innovations, Particularly Analytics Software: Rapid Micro Biosystems plans to introduce new product innovations, specifically in analytics software. A next-generation, cloud-enabled software platform is slated for release in late 2026, which is designed to offer deeper insights and faster decision-making capabilities for global quality and manufacturing operations, thereby enhancing customer value and driving new revenue.
    • Strategic Partnerships and International Market Expansion: The ongoing collaboration with MilliporeSigma is expected to play a meaningful role in contributing to system placements in 2026, especially through specialist training and demo lab setups in Europe and Asia. This partnership facilitates broader market penetration and geographic expansion.
    • Benefiting from Industry Trends in Onshoring and Automation: Broader industry trends, such as the increasing focus on onshoring manufacturing and the growing demand for automation within pharmaceutical production, are anticipated to serve as significant tailwinds for Rapid Micro Biosystems. These trends underscore the critical need for efficient microbial quality control solutions, aligning with the company's core offerings.

    AI Analysis | Feedback

    Capital Allocation Decisions for Rapid Micro Biosystems (RPID)

    Share Issuance

    • Rapid Micro Biosystems completed its initial public offering (IPO) on July 14, 2021, issuing 7,920,000 shares of Class A common stock at $20.00 per share.
    • The IPO generated expected gross proceeds of $158.4 million for the company.
    • Additionally, underwriters were granted a 30-day option to purchase up to an extra 1,188,000 shares of Class A common stock at the IPO price.

    Inbound Investments

    • In August 2025, Rapid Micro Biosystems secured a five-year, $45 million term loan facility from Trinity Capital Inc.
    • At the close of this facility, $20 million was funded.
    • This capital influx is intended to strengthen the company's financial position and support its objectives for long-term revenue growth, gross margin expansion, and shareholder value.

    Capital Expenditures

    • Capital expenditures for the fourth quarter of 2025 amounted to $0.1 million.
    • For the second quarter of 2025, capital expenditures were $0.4 million.
    • The company anticipates capital expenditures of $2 million for the full year 2026, likely focused on operational scaling, including manufacturing, service, and research and development capabilities to support the Growth Direct platform.

    Peer Outperformance in Life Sciences Tools & Services

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    Share of Life Sciences Tools & Services constituents that RPID has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    —
    insufficient peer history
    3Y
    —
    insufficient peer history
    5Y
    —
    insufficient peer history
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    Peer Comparisons

    Peers to compare with:

    Financials

    RPIDTMODHRBDXCRLRGENMedian
    NameRapid Mi.Thermo F.Danaher Becton D.Charles .Repligen  
    Mkt Price-658.78214.07176.80291.00181.61214.07
    Mkt Cap-244.4151.048.614.010.248.6
    Rev LTM-46,33625,10723,2503,99978523,250
    Op Inc LTM-8,4765,1273,344466653,344
    FCF LTM-7,3185,4662,5093711102,509
    FCF 3Y Avg-7,1505,1362,7684791112,768
    CFO LTM-9,0136,6353,2625821353,262
    CFO 3Y Avg-8,6466,4173,4877061413,487

    Growth & Margins

    RPIDTMODHRBDXCRLRGENMedian
    NameRapid Mi.Thermo F.Danaher Becton D.Charles .Repligen  
    Rev Chg LTM-7.2%4.6%17.4%-0.7%16.5%7.2%
    Rev Chg 3Y Avg-2.2%2.9%7.1%-1.4%4.1%2.9%
    Rev Chg Q-10.5%5.5%5.4%-2.7%11.9%5.5%
    QoQ Delta Rev Chg LTM-2.5%1.3%1.1%-0.7%2.9%1.3%
    Op Inc Chg LTM-7.8%16.1%26.1%37.3%366.9%26.1%
    Op Inc Chg 3Y Avg-6.1%-3.3%10.7%-5.2%36.4%6.1%
    Op Mgn LTM-18.3%20.4%14.4%11.7%8.3%14.4%
    Op Mgn 3Y Avg-18.0%20.0%13.5%11.3%1.0%13.5%
    QoQ Delta Op Mgn LTM-0.1%1.2%-0.5%0.6%1.2%0.6%
    CFO/Rev LTM-19.5%26.4%14.0%14.6%17.2%17.2%
    CFO/Rev 3Y Avg-19.7%26.5%16.8%17.5%20.6%19.7%
    FCF/Rev LTM-15.8%21.8%10.8%9.3%14.0%14.0%
    FCF/Rev 3Y Avg-16.3%21.2%13.3%11.9%16.2%16.2%

    Valuation

    RPIDTMODHRBDXCRLRGENMedian
    NameRapid Mi.Thermo F.Danaher Becton D.Charles .Repligen  
    Mkt Cap-244.4151.048.614.010.248.6
    P/S-5.36.02.13.513.15.3
    P/Op Inc-28.829.414.530.0156.929.4
    P/EBIT-26.829.919.1-180.5137.926.8
    P/E-35.137.751.6-58.6246.737.7
    P/CFO-27.122.814.924.076.024.0
    Total Yield-3.2%3.3%4.3%-1.7%0.4%3.2%
    Dividend Yield-0.3%0.6%2.4%0.0%0.0%0.3%
    FCF Yield 3Y Avg-3.9%3.4%5.3%5.2%1.5%3.9%
    D/E-0.20.20.30.20.10.2
    Net D/E-0.20.10.30.2-0.00.2

    Returns

    RPIDTMODHRBDXCRLRGENMedian
    NameRapid Mi.Thermo F.Danaher Becton D.Charles .Repligen  
    1M Rtn-9.8%3.6%-5.0%3.1%6.8%3.6%
    3M Rtn-26.0%8.3%12.5%26.1%27.5%26.0%
    6M Rtn-34.3%12.4%15.9%67.3%54.2%34.3%
    12M Rtn-24.6%1.3%20.7%70.7%24.6%24.6%
    3Y Rtn-34.2%2.1%-7.2%50.5%17.2%17.2%
    1M Excs Rtn-9.3%3.2%-5.4%2.6%6.3%3.2%
    3M Excs Rtn-23.5%5.9%10.1%23.7%25.0%23.5%
    6M Excs Rtn-16.7%-4.1%-1.9%49.5%36.5%16.7%
    12M Excs Rtn-21.5%-6.0%8.7%71.2%20.9%20.9%
    3Y Excs Rtn--47.5%-80.9%-87.2%-30.9%-66.9%-66.9%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
    Filing Date8/7/20265/15/20263/12/202611/7/20258/12/20255/9/20252/28/202511/7/20248/2/20245/3/20243/1/202411/3/2023
    Key Financials Quarterly            
    Total Revenue8811877887666
    Ebitda-12-13-11-10-11-11-12-10-13-13-11-14
    Operating Income-12-14-12-11-12-12-10-12-13-14-12-14
    Net Income-13-14-12-12-12-11-10-11-13-13-11-13
    EPS-0.27-0.31-0.28-0.26-0.27-0.26-0.22-0.26-0.29-0.31-0.26-0.31
    Key Financials TTM            
    Total Revenue TTM353434313030282625232321
    Ebitda TTM-46-45-43-44-44-46-48-48-51-53-53-58
    Operating Income TTM-50-50-47-45-46-47-50-52-54-56-57-62
    Net Income TTM-51-50-47-44-44-45-47-48-50-52-52-58
    Growth Rates Quarterly            
    Total Revenue Growth10.9%11.1%37.3%3.1%9.7%28.4%29.7%23.7%32.3%11.4%44.9%29.7%
    EBITDA Growth-4.8%-19.5%7.3%1.3%12.2%19.7%-4.3%23.6%12.1%4.6%30.5%15.4%
    Operating Income Growth-1.4%-18.8%-19.4%5.5%9.2%18.3%16.1%16.7%11.1%4.0%29.4%14.4%
    Net Income Growth-9.0%-26.7%-29.3%-1.6%5.7%15.5%13.5%15.4%10.3%4.1%32.1%18.0%
    Margins Quarterly            
    EBITDA Margin-143.5%-161.5%-97.7%-131.4%-151.8%-150.1%-144.6%-137.3%-189.6%-240.0%-179.8%-222.4%
    Operating Income Margin-153.0%-173.1%-108.2%-145.1%-167.3%-161.8%-124.5%-158.3%-202.1%-254.4%-192.3%-235.1%
    Net Income Margin-160.5%-178.4%-110.8%-146.8%-163.3%-156.3%-117.6%-148.9%-190.1%-237.4%-176.3%-217.9%
    Cash & Debt            
    Total Cash202338413142516169809289
    Total Debt2324242466667777
    Net Debt / (Cash)41-14-17-26-36-45-54-63-72-85-82
    Cash Flows Quarterly            
    FCF from Operations-13-15-3-9-10-9-10-9-10-16-9-10
    Cash Flows TTM            
    FCF from Operations TTM-40-37-31-38-37-38-44-44-45-44-45-47
    Returns to Shareholders Quarterly            
    Dividends000000000000
    Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly            
    ROIC-8.6%-9.9%-9.0%-8.5%-9.2%-9.0%-8.1%-9.7%-11.0%-12.0%-10.6%-12.5%
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM-8.7%-8.9%-8.8%-8.5%-8.7%-9.2%-9.9%-10.5%-11.2%-11.8%-12.3%-13.3%

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Product and service revenue - recurring181514118
    Product and service revenue - non-recurring16139614
    Non-commercial revenue - non-recurring    2
    Total3428231723


    Price Behavior

    Price Behavior
    Market Price$0.92 
    Market Cap ($ Bil)0.0 
    First Trading Date07/15/2021 
    Distance from 52W High-80.3% 
       50 Days200 Days
    DMA Price$1.53$2.50
    DMA Trenddowndown
    Distance from DMA-39.9%-63.1%
     3M1YR
    Volatility70.3%82.4%
    Downside Capture422.07305.06
    Upside Capture30.11100.85
    Correlation (SPY)21.4%27.5%
    RPID Betas & Captures as of 9/30/2026

     1M2M3M6M1Y3Y
    Beta1.350.441.331.321.751.29
    Up Beta4.16-0.97-1.640.450.730.88
    Down Beta3.642.901.240.131.911.42
    Up Capture-115%-155%91%66%130%248%
    Bmk +ve Days6162766132424
    Stock +ve Days4102146105341
    Down Capture479%425%331%257%174%110%
    Bmk -ve Days16263760120328
    Stock -ve Days16283767130374

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with RPID
    RPID-72.6%82.4%-1.20-
    Sector ETF (XLV)21.0%16.0%1.0022.6%
    Equity (SPY)15.7%13.0%0.8527.3%
    Gold (GLD)7.7%29.6%0.2525.1%
    Commodities (DBC)45.6%20.8%1.69-0.9%
    Real Estate (VNQ)1.2%13.6%-0.1618.3%
    Bitcoin (BTCUSD)-25.7%44.5%-0.5421.5%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with RPID
    RPID-45.2%86.1%-0.32-
    Sector ETF (XLV)6.3%15.2%0.2319.9%
    Equity (SPY)13.0%17.2%0.5724.7%
    Gold (GLD)18.6%18.9%0.809.8%
    Commodities (DBC)10.6%19.6%0.42-2.1%
    Real Estate (VNQ)0.4%18.9%-0.0818.2%
    Bitcoin (BTCUSD)13.6%52.3%0.4318.1%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with RPID
    RPID-26.9%86.4%-0.32-
    Sector ETF (XLV)10.4%16.7%0.5119.3%
    Equity (SPY)15.3%17.9%0.7224.2%
    Gold (GLD)11.6%16.4%0.589.1%
    Commodities (DBC)8.4%18.1%0.38-1.7%
    Real Estate (VNQ)4.4%20.7%0.1717.6%
    Bitcoin (BTCUSD)64.2%66.2%1.0417.3%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date9152026
    Short Interest: Shares Quantity0.9 Mil
    Short Interest: % Change Since 83120268.2%
    Average Daily Volume0.3 Mil
    Days-to-Cover Short Interest3.7 days
    Basic Shares Quantity48.3 Mil
    Short % of Basic Shares1.9%

    Returns Analyses

    Earnings Returns History

    Updated 9/10/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    8/7/2026-16.8%-18.3%-37.0%
    5/13/2026-6.5%-19.0%-29.0%
    3/12/2026-21.8%-38.8%-51.6%
    1/13/202621.1%51.6%25.2%
    11/7/202512.7%62.2%41.1%
    8/12/2025-17.8%-18.7%-7.7%
    5/9/202525.7%24.9%44.5%
    2/28/2025-7.9%-20.8%-19.0%
    ...
    SUMMARY STATS   
    # Positive999
    # Negative161616
    Median Positive7.4%14.8%18.3%
    Median Negative-8.6%-18.7%-14.9%
    Max Positive25.7%62.2%44.5%
    Max Negative-21.8%-38.8%-51.6%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    8/7/2026-16.8%-18.3%-37.0%
    5/13/2026-6.5%-19.0%-29.0%
    3/12/2026-21.8%-38.8%-51.6%
    1/13/202621.1%51.6%25.2%
    11/7/202512.7%62.2%41.1%
    8/12/2025-17.8%-18.7%-7.7%
    5/9/202525.7%24.9%44.5%
    2/28/2025-7.9%-20.8%-19.0%
    11/1/20241.9%14.8%-7.4%
    8/2/202417.3%25.4%25.4%
    5/3/2024-10.1%-18.7%-18.2%
    3/1/2024-10.9%-11.0%-12.7%
    1/10/2024-5.0%-2.0%-5.9%
    11/3/20237.4%-3.0%8.9%
    8/4/2023-2.1%-0.1%2.1%
    5/5/20232.2%1.1%18.3%
    3/3/20236.0%6.0%12.0%
    1/11/2023-2.1%-0.7%-11.3%
    11/10/20224.2%3.8%-23.7%
    8/12/2022-6.1%-22.2%-13.7%
    5/10/2022-7.1%-20.4%-8.1%
    3/4/2022-5.6%3.0%9.3%
    1/10/2022-21.2%-20.4%-7.2%
    11/12/2021-19.6%-24.1%-51.2%
    8/26/2021-9.4%-14.6%-16.1%
    SUMMARY STATS   
    # Positive999
    # Negative161616
    Median Positive7.4%14.8%18.3%
    Median Negative-8.6%-18.7%-14.9%
    Max Positive25.7%62.2%44.5%
    Max Negative-21.8%-38.8%-51.6%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202608/07/202610-Q
    03/31/202605/15/202610-Q
    12/31/202503/12/202610-K
    09/30/202511/07/202510-Q
    06/30/202508/12/202510-Q
    03/31/202505/09/202510-Q
    12/31/202402/28/202510-K
    09/30/202411/07/202410-Q
    06/30/202408/02/202410-Q
    03/31/202405/03/202410-Q
    12/31/202303/01/202410-K
    09/30/202311/03/202310-Q
    06/30/202308/04/202310-Q
    03/31/202305/09/202310-Q
    12/31/202203/10/202310-K
    09/30/202211/10/202210-Q
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202608/07/202610-Q
    03/31/202605/15/202610-Q
    12/31/202503/12/202610-K
    09/30/202511/07/202510-Q
    06/30/202508/12/202510-Q
    03/31/202505/09/202510-Q
    12/31/202402/28/202510-K
    09/30/202411/07/202410-Q
    06/30/202408/02/202410-Q
    03/31/202405/03/202410-Q
    12/31/202303/01/202410-K
    09/30/202311/03/202310-Q
    06/30/202308/04/202310-Q
    03/31/202305/09/202310-Q
    12/31/202203/10/202310-K
    09/30/202211/10/202210-Q
    06/30/202208/12/202210-Q
    03/31/202205/10/202210-Q
    12/31/202103/24/202210-K
    09/30/202111/15/202110-Q
    06/30/202108/27/202110-Q
    03/31/202107/12/2021S-1/A

    Recent Forward Guidance

    Updated 9/28/2026

    Latest: Q2 2026 Earnings Reported 8/7/2026

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    2026 Growth Direct system placementsReported3000.0%3400.0%3800.0%0 AffirmedGuidance: 3400.0% for 2026
    2026 System validationsReported 27 8.0% RaisedGuidance: 25 for 2026
    2026 RevenueReported37.00 Mil39.00 Mil41.00 Mil0 AffirmedGuidance: 39.00 Mil for 2026
    2026 Gross ProfitCalculated7.40 Mil7.80 Mil8.20 Mil  Rev x Gross Margin
    2026 Gross MarginReported 20.0%  0AffirmedGuidance: 20.0% for 2026

    null

    Insider Activity

    Updated 7/24/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Wilson, John J AddingtonCHIEF OPERATING OFFICERDirectSell31220264.329,60341,4671,367,810Form
    2Wirtjes, Sean MCHIEF FINANCIAL OFFICERDirectSell31220264.327,48032,2992,401,701Form
    3Spignesi, Robert G JRPRESIDENT AND CEODirectSell31220264.1117,92273,6864,809,830Form
    4Wilson, John J AddingtonCHIEF OPERATING OFFICERDirectSell22020263.925,40321,1961,280,330Form
    5Wirtjes, Sean MCHIEF FINANCIAL OFFICERDirectSell22020263.9217,25467,6872,211,293Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Wilson, John J AddingtonCHIEF OPERATING OFFICERDirectSell31220264.329,60341,4671,367,810Form
    2Wirtjes, Sean MCHIEF FINANCIAL OFFICERDirectSell31220264.327,48032,2992,401,701Form
    3Spignesi, Robert G JRPRESIDENT AND CEODirectSell31220264.1117,92273,6864,809,830Form
    4Wilson, John J AddingtonCHIEF OPERATING OFFICERDirectSell22020263.925,40321,1961,280,330Form
    5Wirtjes, Sean MCHIEF FINANCIAL OFFICERDirectSell22020263.9217,25467,6872,211,293Form
    6Spignesi, Robert G JRPRESIDENT AND CEODirectSell22020263.8938,327148,9124,614,843Form
    7Wilson, John J AddingtonCHIEF OPERATING OFFICERDirectSell21020263.784,61017,438975,059Form
    8Wirtjes, Sean MCHIEF FINANCIAL OFFICERDirectSell21020263.786,02722,7981,830,554Form
    9Spignesi, Robert G JRPRESIDENT AND CEODirectSell21020263.7812,84048,5703,639,324Form
    10Longitude, Capital Partners Ii, Llc Held by Longitude Prime Fund, L.P.Sell20620263.8849,000  Form
    11Longitude, Capital Partners Ii, Llc Held by Longitude Prime Fund, L.P.Sell20320264.2427,500116,641207,834Form
    12Longitude, Capital Partners Ii, Llc Held by Longitude Prime Fund, L.P.Sell20320264.2527,500116,765324,819Form
    13Longitude, Capital Partners Ii, Llc Held by Longitude Prime Fund, L.P.Sell20320264.5446,000209,001472,524Form
    14Longitude, Capital Partners Ii, Llc Held by Longitude Venture Partners II, L.P.Sell20320264.067,73931,45116,374,852Form
    15Spignesi, Robert G JRPRESIDENT AND CEODirectSell71520253.3211,88139,4813,225,138Form
    16Spignesi, Robert G JRPRESIDENT AND CEODirectSell71520253.3311,87439,4993,184,412Form
    17Spignesi, Robert G JRPRESIDENT AND CEODirectSell71020253.4011,61739,4753,207,763Form
    18Spignesi, Robert G JRPRESIDENT AND CEODirectSell71020253.5111,24739,4803,161,317Form
    19Spignesi, Robert G JRPRESIDENT AND CEODirectSell71020253.5110,82438,0213,114,662Form

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