Market SaturationRPID's system has 164 installations and is used by 70% of the top 20 biopharmas and Lonza, which could indicate approaching market saturation in top-tier biopharma.
Overreliance On Key CustomersRecord high Q3 revs of $7.6M driven by a multi-system order from existing Top 20 pharma as 'land and expand' strategy continues to materialize, suggesting reliance on a few key customers.
Technology RiskCustomer installations, including those in mission-critical settings, validate the Growth Direct technology, which places high reliance on the system's accuracy and performance.