RPID — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-07

• In May 2026 we issued and sold to certain investors in an underwritten public offering (i) 3,581,000 shares (the “Shares”) of Class A common stock and accompanying Series A warrants (“Series A Warrants”) to purchase an aggregate of 3,581,000 shares of Class A common stock and Series B warrants (“Ser…

• Concurrently, we also issued and sold to certain of our directors and officers in a registered direct offering 71,607 shares of Class A common stock and accompanying Series A Warrants to purchase an aggregate of 71,607 shares of Class A common stock with an exercise price of $1.955 per share and Ser…

• shares of Class A common stock with an exercise price of $2.34 per share. Each Share was offered and sold together with an accompanying Series A Warrant and a Series B Warrant at a combined offering price of $1.955.

• In lieu of exercising warrants from the underwritten and registered direct offerings for Class A common stock, holders may exercise instead for the equivalent number of pre-funded warrants.

• Proceeds received from the underwritten and registered direct offerings, net of underwriting discounts and estimated third-party fees were $8.8 million and $0.1 million, respectively.

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• We generated revenue of $8.0 million and $7.2 million for the three months ended March 31, 2026 and 2025, respectively, and incurred net losses of $14.3 million and $11.3 million for those same periods, respectively.

• We believe that our cash, cash equivalents and investments as of March 31, 2026 and additional borrowing capacity expected to become under the LSA that is subject to the satisfaction of certain commercial and operational milestones and other conditions later this year enable us to fund our operating…

• In February 2025, we entered into a Distribution and Collaboration Agreement (the “Distribution Agreement”) with Millipore S.A.S., a subsidiary of the Life Science business of Merck KGaA, Darmstadt, Germany, which operates in the

• U.S. as MilliporeSigma ("MilliporeSigma”). Pursuant to the Distribution Agreement, we granted MilliporeSigma a global, co-exclusive right to sell our products, initially consisting of our Growth Direct systems and related consumables, into all fields related to industrial quality control application…

• Comparison of the three months ended March 31, 2026 and 2025

Text added vs the prior filing · source: 10-Q · 2026-08-07

• There were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the quarter ended June 30, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporti…

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• evaluation, our principal executive officer and principal financial officer concluded that, as of March 31, 2026, our disclosure controls and procedures were effective at the reasonable assurance level.

• There were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the quarter ended March 31, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial report…

Text added vs the prior filing · source: 10-Q · 2026-08-07

• •the overall profile and market perception of our company and its business, finances and operations.

• Our actual business results may vary significantly from such guidance due to a number of factors, many of which are outside of our control, including our customers’ demand for our Growth Direct systems, the length of the sales cycle for

• Future sales and issuances of our Class A common stock, including through our ATM facility, or rights to purchase Class A common stock, including pursuant to our equity incentive plans, or upon the exercise of outstanding warrants,

• would result in additional dilution of the percentage ownership of our stockholders and could cause our stock price to fall.*

• To the extent we raise additional capital by issuing equity securities, our stockholders may experience substantial dilution. We may sell common stock, convertible securities or other equity securities in one or more transactions at prices and in a manner we determine from time to time. If we sell c…

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• Our actual business results may vary significantly from such guidance due to a number of factors, many of which are outside of our control, including our customers’ demand for our Growth Direct systems, the length of the sales cycle for purchases of our systems, customer site readiness and the lead …

• renegotiate our agreement on terms less favorable to us or to immediately cease operations. Any declaration by the Lenders of an event of default would therefore significantly harm our business and prospects and could cause the price of our common stock to decline.

• As we continue to scale our business, we may find that certain of our products, certain customers or certain industries may require a dedicated sales force or sales personnel with different experience than those we currently employ. Identifying, recruiting and training additional qualified personnel…

• practices that violate federal, state, local or foreign laws or our internal policies. Furthermore, with respect to distributors in non-U.S. jurisdictions, sales practices utilized by any such distributors that are locally acceptable may not comply with sales practices standards required under U.S. …

• Due to the significant resources required to enable access in new markets, we must make strategic and operational decisions to prioritize certain markets, products and services. We may expend our resources to access markets and develop products and services that do not yield meaningful revenue or we…