Earnings call transcript Q4 2022

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Operator

Good morning, and welcome to Rapid Micro Biosystems Fourth Quarter and Full Year 2022 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the call over to Mike Beaulieu, Vice President of Investor Relations and Corporate Communications. Thank you. Please go ahead, sir.

Mike Beaulieu

you full the year thank fourth Micro and and quarter XXXX morning for Rapid joining Biosystems Good earnings call.

& the in and release on at Financial year financial on Chief is announcing our issued available me call A the and Spignesi, release under Events Rob rapidmicrobio.com Joining full quarter President a Executive section. press Officer; website Earlier copy Sean the Officer. Chief results. News company’s fourth Wirtjes, Investors today, we are and of the

including, Before considered Act condition, we interest impact placements, expectations Harbor Any and to business new statements limited future of statements, and our to predictions Safe this made system like of XXXX. federal and to, remind you call during this performance are expectations that made forward-looking cash expectations not results Growth Direct potential and Reform or Micro’s the the Alarm revenue adoption for RMBNucleus begin, relating I’d within of provisions of Rapid many of call runway forward-looking meaning which customer in to to statements events, of may growth, contained or relate the pandemic the year-end the laws, cash be macroeconomic anticipated and Private securities uncertainty pursuant that development coronavirus business. Mold statements but future are financial and for Micro’s System, on Litigation Rapid statements Securities balance,

expressed factors. statements to of due from results Actual forward-looking may a materially or implied the those in differ variety

please March with associated Form refer Annual uncertainties the risks section Report filed and business, on on XX, and to with Micro’s We future Exchange guarantee Securities and of considered a description be you performance. Factors list as are statements For SEC. the Rapid our risk and you our not XXXX, of the XX-K Commission Risk that these consider a and of aware are in be estimates the urge only should to factors subsequent filings these such factors updated with should

is and intention only because XXXX. live obligation, new projections Rapid today, This or broadcast conference disclaims to any whether except March information, as of forward-looking future law, the or accurate any financial as statements, or revise information of events or contains call X, required by update time-sensitive Micro otherwise.

that, with over the I’ll turn And call to Rob.

Rob Spignesi

morning, that our a Mike. and full a with fourth review thank in year taken you, then the call, XXXX. Thank results. today's why joining growth solid to Micro Good and QX our we On everyone, us of to quarter actions Rapid have return performance growth believe strategy, for and discuss we and will XXXX recently I you begin for summary our position

our third Now, was call $XX.X the in discussion the fourth to over and placed a new I'll detailed in million systems two January and provided our then reaffirmed top for our well quarter guidance million guidance. our the in line results and call better $X.X we in These more Sean on results quarter as pre-announcement, than customer. in new for are financial Total for to revenue XX full pharma quarter, as fourth the the turn or a August We year. one November. including

year meeting be a our proposition speaks XXXX challenging proved of which with value business site and to $XX direct, robustness growth revenue which impacted cumulative systems, million execution, recurring by our XXX strong strength the by our customer placed clearly own performance million our the we using including fully and not over to of expectations. our to are systems, basis, On Customers have in access the a X model. driving XXXX. XXX limitations validated and sold consumables grew has XX%

enhance and execution, improve launched these to the we performance. a drive comprehensive action to response plan efficiencies In business challenges, in

through we XXXX, our key first placements. we of accelerating forward made strategy: As have growth the confidence The and to our is improvements growth four stems areas excess from in look

The second commercializing is developing and new products.

initiatives as the scaling of a of which And management is most The both prudent third business. is margins balance, leveraging our expanding our by one assets. cash fourth external we and gross important cost recognize our

service we Accelerating Growth our also highest priority remains customer placements Direct Systems our experience enhanced but our sales and not only have processes, and organizations.

resources We training enhanced methodologies. have added sales launched and new programs, and focused

new generation We and we our our equipped marketing with lead capabilities, expanding are and sales have teams tools.

and scientific to held as technical partner the of webinars. sales our on focus key expand and is larger team the global and is support training This excited efforts. with our we scope about of Last these in selling accounts. continue we annual scale white meeting important development papers Also, the we to reference and our customers month,

we XXXX. expect in which conferences the the XXXX, we for over XX to on of events Growth Direct, held the around are In events additional current the planning quarter, Building attend and globally success and prospective in globe. fourth customers both

planning its use in-person system We increase help number customers' customer and and to are in of the capabilities knowledge locations. to at local Growth Massachusetts Direct demonstrations sessions These events for them our deepen value are Systems focused Direct Growth also events more robustly see proposition licensed of and to cases. and our meaningfully understand training that

have opportunities, and to customers. strong mix of which a existing of new robust placement continue includes system funnel We a

excited up this the the customer look make gaining new Geographically, including quarter. majority on as CDMO Our the about with gene category, funnel, we the the are our multi-system funnel, and of the in in accounts the highlights a product you forward up expanded and are of of including performance our biologics By course customers fourth opportunities majority important, for these opportunity make up our our Pacific global in within make as of therapies within cell is as Asia sharing our region, we well in key funnel. but U.S. traction the region win focus to over to continue XXXX. orders segment. largest We opportunities Europe

momentum new creating barriers strategy innovation to growth a development We release Mold of system between full our following software of efforts is proposition Mold Direct to and XXXX view pleased the importantly, as Direct market differentiate and customers, development early our manufacturing that platform value of gives bacteria. a products. the growth. new Alarm. a our part for of allows to to in entry the leverage product and in were Alarm environment mold increasing to way accelerating revenue with a exit product RMBNucleus Go We the Growth is our the ability major detection Another mold

plan. and differentiating little the mold alerting Customers as Alarm the day. are between require costly quickly capable grow to of Mold of is as one mold two, remediation can and interested presence and customers in a especially significant as

plan, Following across are teams which fully the sales for their full and against service our our includes executing we partnering release commercialization training our network. customers with deployment several and in December, larger of

make Top products Rapid continue we progress XX development, consumable direct to The ongoing a [Surely] global our customers. product system. to program, including will growth with with consist Turning of Surely our testing new steady beta with of existing one the

our platform technology again, So growth. for leveraging

to take drug first for five which detection, the shipped patient process The the in release method for longer, results XX days customers targeting product Sterility faster. can will days the to product allow are faster to the step before we significantly final use. or and market seven testing final to is legacy is and typically manufacturing even

completion This nearing customers. manufacturing consumable a a in are site demonstration direct of include our we manufacturing perspective lab the and will our return Lastly, backup expansion Lexington line facility. growth and

this customers forward We this hosting to year. facility at are new looking

their system and XXXX, begin and we returned customers, we to and benefits demonstrate challenges, product accelerate levels, as pandemic So, with closely allows workflows development. our are of progress the regulatory pre work which more the new micro-QC the and teams and of inside Customer to has engagement direct placements to execution further manufacturing our growth better system. growth access strategy with encouraged understand largely

like turn would fourth call the over to to discuss quarter I our outlook. our Sean and to Sean? XXXX performance Now,

Sean Wirtjes

fourth This placed in $X.X year. compared good of million, $X.X We fourth QX revenue approximately last QX and QX in growth Rob, XXXX of commercial quarter to commercial in reported three morning, offset morning, and we in revenue Consumable grew XX% two the Product compared was the year. systems to last of reported $X.X XXXX. million compared which million quarter direct sales compares Thanks, revenue, QX impact to in year. consumables, and last quarter systems which placement is the comprised $X.X to system of million fewer everyone. one

the was QX the X.X revenue validation of million year. to in systems XXXX. total quarter in XXX at completed validated We systems bringing three end the X.X Service of to last compared million

was revenue compared our less of million million, in While XXXX, quarter by driven a $X.X approximately quarter consumables and QX QX $X.X QX validation last fewer of to growth XX% both validation million nearly validated Fourth recurring systems. in XX% system was one was service due year of lower result compared service placement fourth activity, an as last Non-recurring increased year of representing lower and revenue contract to to revenue base activity. in revenue higher the contracts. due than increase to $X.X

year. in margins, Turning despite fourth product last in our product manufacturing progress continued The million initiatives, quarter unfavorable QX improvement a compared to negative $X.X to mix. on was gross of were result consumable the million margins negative efficiency $X.X

were QX. basis, On margins sequential a product consistent with

QX improved lower meaningfully and decline system as of due revenue lower travel to slightly to compared to with QX. a negative under on declined negative due year compared were The QX manufacturing Service last Consumable personnel, automated on downtime was system and they positive as sequential contracts. due and a our mainly in line. level service reduced were in margins While associated basis supporting higher validation on quarter volumes, $XX,XXX $XXX,XXX over year in both higher year. spending unplanned margins revenue systems production to margins to materials well the

from manufacturing mix, and quarter gross negative basis, offset was compared percentage fourth margins system This our year better downtime, margin consumables On last with and a flat benefits service product lower to efficiency initiatives combined relatively our by and QX unplanned margins. was unfavorable consumables XX%.

freight While during costs, we the quarter. they meaningful in continue a impact not certain to did headwinds see some material labor inflationary have and

to down August, million expenses XXXX. fourth to million in million compares related million total the marketing, was related to in $X.X $X.X fourth quarter as G&A. $X.X and operating plan review quarter the in December. the in Moving strategic August This and the in we million sales announced process retention announced concluded $X.X were well and in P&L employee severance in restructuring million R&D the in due $X.X total increase and $XX.X expenses of $XX.X of of mainly to operating million benefits The as expenses in in we consisting

in loss loss primarily QX this This fourth in quarter $XX.X a QX. in year. expenses. million higher to loss compares the million operating was Net higher net net was last to year of due The $XX.X

a XXXX, $X.XX With and a I to share attributable capital the capital of shareholders to million, the of and $X.X loss quarter. in per expenditures, XXXX. compensation prior expense in to of expenditures loss items, fourth were Net compared result in a million. QX $X.XX net As non-recurring outlined moment was amortization ago. Stock year the $X.X quarter non-cash was respect million depreciation was expenses and $X.X common

we $XXX.X December cash equivalents, XXst, at in least with cash us had As provides We and confident cash, into remained million investments. XXXX. runway this of

first be my full our in focused the to turning Now XXXX on year will comments outlook, the quarter.

represents at XXXX, least the which our expect at year million, of commercial XX least revenue assumes place XX%. and $XX For to be we that at least systems full will growth we

million, least as continue we system move For half From two and assumes there, revenue revenue commercial into to system peaking we QX, through QX. placements commercial in the $X accelerating at which we the placements. to build least as of move we expect expect with momentum year at second

and we to and that, the to placements of therefore system quarter-to-quarter subject said be Having variability timing revenue. continue

geographies most essentially mentioned, operations. Rob to back pre-pandemic are As

are we macro-economic environment. still in However, dynamic operating a

see for than As multi-system a times continue some result, we uncertainty customer longer expected our purchase variability that including expectation orders. guidance and some our will reflects lead decisions, to in

in systems other With to fact revenue nine compared XXXX validations mainly lower related we the a respect in we expect to to service, in that revenue result extent, as XXXX consumables and growth lesser to streams, place to and XXXX.

and validations volume XX first in least and We gross outlook, expect QX manufacturing in our as improve to two revenue Based increases. generate we progresses QX XXXX, our on as the margin be complete least initiatives the expect reduction at similar to at year then with XXXX leverage and efficiency quarter. cost to benefits

expenses $X.X development With that driven respect well will restructuring by million we of timing in to quarterly million as between certain be to mainly variability of $XX.X activities. first expenses, operating the expect XXXX new three with OpEx product non-recurring $XX.X year, impact in related quarters million and as the the

to $XX a a meaningful $X inventory million Finally, cash act be CapEx from capital, includes approximately working This particularly as and expect positive burn in we roughly XXXX. initiatives spend. million of of contribution reduction result

million expect end We to below slightly or and of XXXX. in this the put cash $XXX investments us at at

That comments year our QX my on and concludes full outlook.

this point, Operator? for questions. open call at up So we'll the

Operator

[Operator you. Thank Instructions].

from Our first question Dan Please ahead. from go Stifel. Arias comes

Dan Arias

And Good that but morning open uncertainty the would just guys. you the leaves the to pretty $XX comment guide, with initial guess dealing to Thanks did maybe at you'll sounded be I Rob's Sean, million for that this lead something start least say, questions. higher. on door times confident. obviously in that year. highlight

for year? think where to, more conservative related? Rapid or it talk the you And Is So think then it biggest the not do is outlook or can swing this is? factors ultimately, are just conservative how you related macro you

Rob Spignesi

Rob. take something weigh out. that Hey, Sean Yes, we the achievable. believe put it fully that slice to first Dan, is guidance and it's of up was goal I'll for can our

questions we through the confidence. some So about are seeing This answer on of the phone, other but how side that #X, sort is: it. the thought us we on I can't gives go what environment. And may

know. gives critical process, customers part our process, site planning. to in is, the a which through as on on is that are confidence facility pre-pandemic back sales encouraging seeing the multi-site that basically our multi-site are us include customers we you Critically remarks customers of and as with our type quality platform, of events, and for getting we leading indicators engaged orders, As which and customer levels. us those coordination person in very going harmonize frequency to The process touched order alignment. Global the to and robust, interactions is in be to to tends

developed That encouraging cases are being and work us. process. outlook We through procurement business seeing for is a

Team deployment, going well. is training

going We for the And just North contribution and region sales customers. our has new and our as touched engaged are both do we existing again after and and Asia of it, well, running the coming Asia our off is, America to from opportunities largely, and funnel expect multi-system and a Europe it. but existing new mix up and meeting XXXX. Pacific good in call this We opportunities global remarks in team include is on

that processes that gives the good of breaking certain in create by us macroeconomic late or total availability capital. headwinds overlay year, budgeting we offset seen budget some minute the So confidence cost generally that's can and last And of out to move. there have

year. we is to of weighing. the give long also bit a total that's you thought about this But perspective want a of So there answer. on how I full some

Dan Arias

and at That's -- generally helpful set context. uncertainty point I head the are the are you of you've so like to shapes the beginning this with guess of And we so feel mean, matter we into last you budget point, I your still as budgeting next stand the in how are you March of do of of period over it's months? end that that factor the dealing as up a past XQ? couple gotten or

Rob Spignesi

Yes.

as think, generally especially through it's in. our always some year down, I there results set but going their when and come customers is are well their risk,

clarity on to minds. we it, seem I'll the weighing around. or so to up, priority but budgets that, always of I way But the call things always budget of are, chance say, comes is environment budgets some delay on, our can be macroeconomic there facilities would sort I got that move customer's say, So or of unrelated some other economy, some -- would critical generally, decent macro does

Dan Arias

can follow-up, revenues. the time was comes were way time? I shaping long-term If just up ask into with when of the to I too over to of at Sean, you was shot way forecast, on attractive want help the things see one that that revenue could from just one P&L the that mix, just I the IPO trending was you don't recurring percentage of the far the know you coming that us get sales but it a mean, the that

XX% an believe. had as us I refreshed see I view as goal the a on just XXXX, a with you to Is you view by updated can there progression you and think help far of like that anything getting or there? the shift

Sean Wirtjes

ahead five, terms Yeah, been schedule I the we over recurring. mean, past way think with actually the six placements revenue are mix with I in we've -- you what if look of at experienced of quarters,

important was think, we that So a XXXX, recurring for growth revenue of point had in strength us. I XX%

we're going going expect where out. be. of of wouldn't if ahead we continue be revenue shouldn't still thought think over to I year of that us I'd over a look over well this you balance more the time. that's So XX% -- bit recurring. be little We to expect think stay course to we'd to I the I

at So, placements we on is thing priority I the business, us and mean, I for the getting again. this. critical one going look Rob think is touched think number system I

If recurring of is working saw, percentage you to look growth. drifts the back growth, drives we growth drive up extent get growth that and where placement I kind that That that service and service of a that. we mix back what couple revenue drives then we're large then that placement a to growth consumable of something years, think validation with

were And back again get with now. consumables. of to to little get expect couple in terms maybe that We're that. I back the the well XX% a and term we a ago, think significant I of we -- Dan, service above even down range more below longer were over kind think years bit in I we So running growth. recurring placement that as XX we out engine even

Operator

Savant Our Morgan question comes next from Tejas Stanley. from

Yuko Oku

question. Yuko on the this Hello, mode investment and any taking then you for products, preservation of alarm priorities into from cuts? Thank is call cash namely And nucleus for focus also, Tajas. on you in for in light new putting contribution Could the RMB are you our the outline cost software guide?

Rob Spignesi

approach Yeah, to that's commercial planks accelerating with part bulk consistent placements, the development activity. Investment product investment new investment in strategy. as in on constitute so, core clear related of one question. that for in the of Number is second pass activities investment priority the business priorities is regard and system portfolio. and a well, our so in I'll investment our of is our business efficiency with and

Sean Wirtjes

Yeah, and targeted. say, just some Yuko, a the did restructuring on cost out to system to be August that we're yeah. those investment obviously very I'd of first here and within point, that going take areas back we in

decision every So grounded cash. is around in our responsible we being stewards of investments make

is to forward. that But mind So, investment we we of those every the continue are investments make going in top plan. around discussion to have. that going That's

alarm. specifically product new On contribution, mold

to XXXX is sign Our the they're in to goal subscriptions that for alarm when ready a product get in recurring a using with for annual the that it number customers to mold to work of with so we get market, they're get them out to to there our software. basically is XXXX, spot where up

a that a annual into more to very I'd expect beyond. those of in that, move we said subscription our in and get ‘XX I'd Having of our say meaningful more for year periods be guidance as we do much bit them. in But modest to out it's this and forecast have ‘XX contribution.

Yuko Oku

high your digit you embedded late guidance? ‘XX into was single margin positive Got prior is potentially XQ, positive margin achieving it. helpful. indicated your in comments gross placements place ‘XX by late if gross And and That

Rob Spignesi

Yes.

-- the So there would not guidance I'd but quite in close, very say we QX. get us it,

QX. likely digit I systems us in get think, high single there would

think is year have full said, and look year expect I ‘XX, just we we if reiterate the be to we positive. what the at to

QX. and some where be there upside we on with that potentially So, very close We'd is not getting anticipate there. right we based get now, would could in our guidance

Yuko Oku

system last more, backend that us thinking one then validating given year, but be weighted? we XX if may, Should to validation roughly And think expected you're ‘XX, expect I about great. the lag except spread help how and mentioned ‘XX? between could or soft more placements quarters about placements in and of you system across validations evenly pace you systems Okay, in

Rob Spignesi

bit A overstate wouldn't weighted, more I but that. backend

say backlog, to of think we waiting have this is on I hit. last important in systems kind validation One the either or topic, I'll there's process couple that number [Yuko], more a in of things than do start. year, we to validated our

to and hit getting the there means a customers, are that head into waiting room site waiting minority, some to on, kind data but some the air the have question say from there's it's be a That for that construction, Just as we some do and to complete where go construction I'd for build. system they're and we of anything type got a wait power completed. delay that's customer's to of in

year you So to that as typically. very this existing is forward, and that placed that about systems that we shrink that working the be as you between we are hard time validation to last to a in in differs what And completed, a plus. new a we being customers customers get that number the year, higher think as the aware go we've should of then contributes little factor placed than bit

important an that's it. modeling mix question, think So as you about

half year. as to year, at the the the are But aren't end there you those of validated second going you fully in hit get typically, the many of of that look placements before

the validation sequencing indicated of to really on placements as we've lower to placed opportunity that the complete And the system be our So systems this the year. the year. be part end for guidance know year you is of in to is on the focused going going the front that

think you asked. are question mind about keep as I in those things just, think important you to So the

Operator

Vatnsdal from comes Our next from Rachel Morgan. JP question

Rachel Vatnsdal

Can unplanned, much of it this flat guide. in quantify elaborate sequential the and how of here a for the headwind my the just I why guess can on for line? embedded on maybe gross was, cadence taking maybe Rachel. Thanks you then the margin expansion was gross that unplanned Casey margins contributed is on you This to questions. downtime

mentioned margins you're more XQ. to Is going in should we how see there embedded in think, that I about kind that? downtime of there and you think flat gross

Rob Spignesi

Yes, sure. Casey.

planned. some not So, encountered have that's downtime we was we This this situation. do in particular what

understand the We of downtime. We unplanned have looked at them. the causes

And have that good them. recur. feel addressed they won't we We

We will continue sure make focus what and to on that do to that's can sure actually out. make we that what rolls we

think you we in believe that guidance, as of So 'XX We have not into recurrence we about we that. see have assumed we what kind of ran addressed QX.

impact, In was terms meaningful. of the it

We terms give I going quantified we contributor to number. compared say, quarter thought the our of would the in to what #X margin are fourth quarter. in going the into performance, from not of it's a we variance But expected what

Rachel Vatnsdal

it. Got

Rob Spignesi

And to then I interrupt. sorry, mean cadence didn't you -- about asked

You asked 'XX. about in cadence

think right. that QX like look will are You We a we guided QX. lot

that's a pretty minutes true way getting I what general. work to think positive through I for to expect year said we year, end the And few the in in close ago, as quarter given we the QX. then

So pretty as year. kind closely sequencing step-up, you your you out I through of expect the think with margin roll in volume with should I'd the increases followed come the guidance the gave we the terms of to the see there and that, revenue if along way work that

Rachel Vatnsdal

I At conference in our pull just on increasing mid-teens then talked helpful. That's range. about guidance can and around side, range? walk pull for you you end of singles guys like think And per it. that system. from XXXX. what's to And potentially instrument the guess, was just pull per needs through that I get what this the then high on just takes consumable through through in the $XX,XXX the through year high an you perspective? happen XXXX Yes, to to puts instrument embedded into to Got

Rob Spignesi

Yes.

So built $XX,XXX around finish The we excuse me. that in it. has into mark, guidance the year did 'XX

I that finish And in terms expect below, single-digits that the and put think in growth year to metric. I'd full the us where put would that of year start where the us first to would year half high us. above the in

I make think validations sure is happens. to with what moving expect the ahead we things that inline critical

on doing completed. Project get As is a are things of to to refer the what things we some reduce it where actually takes working as the amount time we validation of around to Rapid

on if haven't I'd But heroics that So to say, there is get to $XX,XXX. so main we range number those things are we guidance ability to the that. on would there, the single-digit number, the versus high can drive those to things over potentially assumed for type and growth get our the that upside execute year that

Rachel Vatnsdal

it. then ASP have you on just Got maybe if Just the about price other? way XXXX? we curious should the in think plan one moving instrument And or environment just around a given macro

Rob Spignesi

Yes.

prices in systems, do as expect compare We into we as to to year. But not a 'XX on ASPs, mix a modest I'm took get 'XX. have we -- we going of a generally ASPs this increase lot specifics. up at I think we look

Rachel Vatnsdal

in maybe visibility squeeze is got loaded your to in. generally about of high just pretty placements Okay, back-end into XQ, can that just I half from one the talk one you a single the back guess I in if can XQ, guide last And placements visibility you. get into The to year, much Two how in digit number placement conversation do the year? have so customer on that perspective. those XX you

Rob Spignesi

us of things purchase we intentions course their land. ramping expect when touched of kind shape by multiple in the process giving the Rob. on cases Yeah. and it's in Dan, some Yeah, guide still the on we're and we're customers what's having the question Case conversations to just And with in and the intro confidence as into systems is of regarding the I year.

opportunities kind the about speaking the rolling year practically other broader of of kind the a more our of mix it this as So, bit across gives sort through with funnel sort back out we total the all our think of as is well well sum us confidence just the of as outlook. of a also have in we how waiting. And in regions, end all of

Operator

TD Max Our last from Masucci from question Cowen. comes

Stephanie Yan

my quick taking a questions. Hi, have already Most this I Thanks can couple ask is if Stephanie of on of asked, from been so ones. for questions my Max.

about hear in that planned be you which on that great since events mentioned keeping the eye to prepared for your catalyst as you So milestones Conferees have we you so and head key is for remarks what the XX should the an are year? XXXX, year, or into

Rob Spignesi

chance a per day. So, facing a milestones which good key your call our customers one with got it's -- regard a trade certainly shows if and around PDA. the the day, We this referring catalyst But it new of prospective about a US hopeful the this a have around to, will year to number the we of a the wouldn't external is me. world PDA's together or to our and ecosystem shows interacting of is Europe. other to year Stephanie, always but milestones in together collection um, as big things not world. to growth events come think publicly customers. centered year, direct a key in open chance If Typically, steer our as end excited about regard around directly se, for bring full that do attend. all is to together milestone with really which with well, facing one. We're if is but the which to question one a is growth we're is we have bring I please the largest We've

Stephanie Yan

that so customers you know I but consumable already the Q&A, further acceleration existing have for been on touched bit be versus expectation? this Do on has your could year? on in utilization for versus your consumable the that utilization then side, quickly see how been the expectations a And potential there ramping

Sean Wirtjes

have a comment Rob maybe as and well. start I'll will Yeah,

I customer. think, depends on it the

also find when originally in customers to to with said of in and to them we are of more we how where work I say better. different kind that, ways expected use that's that, I pulling we increase that continuing getting customers they're through in even to plan. we utilization. it work and them to, would situation routine terms our that quickly. think is general, are their and transition with a over improving resourcing Having upon But help of dependent make lot heavily times

whether or on to they the adding customers to applications indications products, So getting capacity more system. they're new who are they ability we utilize are products or existing need we it's capacity, new the or -- more have have

be So, to we're to higher a get through for that we over pull the believe that's business. also time going way number that able

Rob Spignesi

other a Just comments that Stephanie. couple

people possible have ordering do orders. just our to them validations any work dedicated use with quickly any We sales training standing as to a slash but after in into that, routine as required, across certainly our ramp consultants, regions -- that our required, customers

we new open and the in if with grease So you be move quickly more will, any seek track easy to and applications to basically, consumables work into gears Sean's any onto also to kind through point, of sell, to the capacity systems capacity.

system. purchase for environmental course, If any plant. water of which manufacturing of a put be capacity many to monitoring, opportunities could the And new look times customer, on opportunities example, bioburden a triggers inside applications, has for automate automated further or there's or and existing

And opportunity customer. think it it's through. to well. an it's a plant. system a to -- pull So In new also of most a seek organic also, how manufacturing lead That's as actual we source for great cases, maximize as within opportunities sale

Great. Well again. Stephanie thanks

call to now. So the wrap going live we're

we the speaking forward many in reminder, today. are March the everyone Boston coming and a As you the Julien, call Wednesday, TD for in X, close to Healthcare next Conference weeks. joining Thanks Cowen attending with we'll And us to look of now.

Operator

Thank call. conference you for today's your concludes participation. This

now may disconnect. You

Rapid Micro Biosystems (RPID) 3 Mar 232022 Q4 Earnings call transcript