The EPS miss and continued cash burn are the primary negatives, though gross margin improvement and reaffirmed guidance provide some offset. Monitor the upcoming conference call for color on the timing to positive cash flow and order pipeline for H2 placements. With ~$20M cash and $10M+ quarterly cash burn, the company likely needs additional financing within the next two quarters.
Price Chart
Executive Summary
Rapid Micro Biosystems reported Q2 2026 revenue of $8.1M (+11% YoY), slightly above consensus of $7.9M, but EPS of -$0.27 missed consensus of -$0.24 by ~11%. The company placed four Growth Direct systems and achieved a record gross margin of 15% (up from 3.8% YoY). Full-year 2026 guidance was reaffirmed, including $37M-$41M revenue and ~20% gross margin. The net loss widened to $12.9M from $11.9M a year ago, and cash burn continues with only ~$20M in cash/short-term investments.
Key Financial Metrics
Key Facts
- Q2 2026 total revenue of $8.1M vs consensus $7.9M (beat)
- EPS of -$0.27 vs consensus -$0.24 (miss of ~11%)
- Record Q2 gross margin of 15% vs 3.8% a year ago
- Recurring revenue grew 14% YoY to $5.0M (63% of total revenue)
- Full-year 2026 revenue guidance reaffirmed at $37M-$41M
- Net loss of $12.9M widened from $11.9M in Q2 2025
- Cash, cash equivalents, and short-term investments ~$20M (down from ~$39M at Dec 2025)
- 200th Growth Direct system placed globally; 4 placements and 9 validations in Q2
- Non-GAAP adjusted EBITDA loss of $10.3M (vs. $10.1M a year ago)
Financial Impact
EPS miss of $0.03 per share (11% below consensus) and cash burn of ~$10M/quarter with $20M remaining cash runway
Risk Factors
- Continued cash burn with ~$20M cash may require near-term capital raise/dilution
- EPS has missed consensus in 4 of the last 5 quarters, indicating persistent operating deleverage
- Commercial execution risk in placing Growth Direct systems in H2 to hit guidance midpoint of $39M
- Low gross margin of 15% remains well below the mid-20% H2 target
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001380106-26-000097 |
| Document: 0001380106-26-000097-index.html | 0001380106-26-000097 |
| Document: 0001380106-26-000097.txt | 0001380106-26-000097 |
| 8-K Data (Synthetic) | 0001380106-26-000097 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 7, 2026 11w ago | 8-K | $1.73 $1.31 | ▲ +24.28% | ▲ +23.88% | $0.7850 (+54.62%) |
Jul 23, 2026 13w ago | Press Release | $1.99 | awaiting T+20 | — | $0.7850 (−60.55%) |
May 19, 2026 22w ago | 424B5 | $2.01 $1.71 | ▲ +14.93% | ▲ +15.67% | $0.7850 (+60.95%) |
May 13, 2026 23w ago | 8-K | $2.32 $1.76 | ▲ +24.14% | ▲ +23.28% | $0.7850 (+66.16%) |
Apr 8, 2026 28w ago | DEFA14A | $2.12 $2.53 | ▲ +19.34% | ▲ +11.77% | $0.7850 (−62.97%) |
Mar 12, 2026 32w ago | 8-K | $3.43 $2.12 | ▼ −38.10% | ▼ −40.08% | $0.7850 (−77.08%) |
Mar 12, 2026 32w ago | Press Release | $3.43 $2.12 | ▼ −38.10% | ▼ −40.08% | $0.7850 (−77.08%) |
US Market Status
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