Sean Wirtjes
Chief Financial Officer at Rapid Micro Biosystems
We expect operating expenses to step down from Q2 to Q3 and to now be between 46,000,000 and $48,000,000 for the full year. We expect full year depreciation and amortization expense of $3,000,000 stock compensation expense of $4,000,000 and CapEx of $2,000,000 Other income and expense, which will now include both interest income on our increased cash balance and interest expense on our recently issued debt, is expected to be $1,000,000 of income for the full year, with income and expense largely offsetting each other in the third and fourth quarters. Finally, I'll wrap up my prepared remarks with some additional commentary on our cash position and path to cash flow breakeven. As Rob outlined, we recently entered into a new $45,000,000 term loan facility and drew down the first tranche of 20,000,000 The facility includes two additional $10,000,000 tranches, which can be drawn subject to the achievement of certain future commercial and operational milestones as well as a further $5,000,000 tranche that is subject to the lender's discretion. Following this transaction, we believe that the combination of our new term loan facility, our existing cash balance, expected benefits from our ongoing initiatives to increase system sales, expand gross margins, and tightly control expenses and working capital, and expected benefits from our partnership with MilliporeSigma reinforces our ability to achieve positive cash flow.
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