The company exceeded guidance as consumable and service revenue drove a 14% increase in recurring revenue to $5 million.
Rapid Micro Biosystems posted second-quarter revenue of $8.1 million, an 11% increase from $7.3 million a year earlier, driven by higher consumable sales and service activity. The result surpassed the company’s prior guidance as recurring revenue climbed 14% to $5 million.
Product revenue rose 10% to $5.3 million, led by a more than 20% jump in consumable sales, while service revenue increased 13% to $2.8 million. Gross margin improved to $1.2 million, or 15% of revenue, from $0.3 million, or 4%, in the prior-year period.
The company placed four Growth Direct Systems and completed nine validations during the quarter, up from two validations a year earlier. It also marked the placement of its 200th system and expects to ship its 10 millionth consumable in Q3.