Rapid Micro Biosystems Inc. (RPID) Targeting 25%-30% Annual Revenue Growth Rate

Rapid Micro Biosystems (NASDAQ:RPID) is one of the best performing penny stocks to buy now. On September 9, at the HC Wainwright 27th Annual Global Investment Conference, the company reaffirmed its commitment to innovation and automation as it seeks to replace traditional testing methods.

Its GrowthDirect platform already offers automated, compliant testing solutions, expected to strengthen prospects in pharmaceutical manufacturing. The Rapid Sterility Platform is designed to accelerate the process of digital imaging technology and detection of microbial growth in as little as 12 hours.

While the company achieved $28 million in revenue in 2024, with more than half coming from recurring sources, it is targeting a 25% to 30% annual revenue growth rate. Part of the plan involves leveraging its partnership with Merck to enhance sales and innovation opportunities. The company also plans to expand its customer base, with a focus on Asia, as it seeks to enhance its revenue base.

Rapid Micro Biosystems (NASDAQ:RPID) develops and provides innovative, automated microbial quality control (MQC) testing solutions for the pharmaceutical and biologics industries, using their Growth Direct platform. Its technology brings quality control to the manufacturing floor, automating manual testing to deliver faster, more accurate results and improve operational efficiency for companies producing healthcare products, such as vaccines and sterile injectables.

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Disclosure: None. This article is originally published at Insider Monkey.