908 Devices Inc. is a technology company that develops and manufactures purpose-built handheld and desktop mass spectrometry devices for chemical and biomolecular analysis. The company's products are used at the point-of-need to detect and identify unknown materials, catering primarily to safety, security, and defense applications such as illicit drug detection and hazardous materials response.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
56,197
47,746
50,229
46,852
Cost of Sales
27,774
23,246
24,907
20,829
Gross Profit
28,423
24,500
25,322
26,023
Selling, General & Administrative Expenses
38,528
39,462
46,069
43,879
Research & Development Expenses
15,575
14,988
21,904
17,526
Other Operating Expenses
13,741
27,443
107
—
Operating Profit
(39,421)
(57,393)
(42,758)
(35,382)
Interest and Investment Income
4,136
4,494
6,480
2,031
Interest Expense
—
—
(201)
(129)
Non-Operating Income
2,288
—
(131)
(83)
Total Non-Operating Income
6,424
4,494
6,148
1,819
Income Before Provision for Income Taxes
(32,997)
(52,899)
(36,610)
(33,563)
Provision for Income Taxes
66
—
211
—
Consolidated Net Income
(33,277)
(53,140)
(36,399)
(33,563)
Net Income Attributable to Discontinued Operations
52,766
(19,066)
—
—
Net Income Attributable to Common Shareholders
19,489
(72,206)
(36,399)
(33,563)
Basic EPS
0.54
-2.12
-1.13
-1.07
Diluted EPS
0.54
-2.12
-1.13
-1.07
Basic Weighted Average Shares Outstanding
35,899
34,076
32,239
31,493
Diluted Weighted Average Shares Outstanding
35,899
34,076
32,239
31,493
Shares Outstanding
36,322
35,098
32,519
31,860
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
70,517
43,355
121,041
188,422
Short-Term Investments
42,453
25,568
24,641
—
Total Cash and Cash Equivalents
112,970
68,923
145,682
188,422
Accounts Receivable
11,327
8,852
8,989
10,033
Total Trade Receivables
11,327
8,852
8,989
10,033
Inventories
12,990
10,886
14,938
12,513
Other Current Assets
7,272
14,394
4,181
4,658
Total Current Assets
144,559
103,055
173,790
215,626
Net Property, Plant & Equipment
8,629
5,437
9,575
7,039
Net Intangible Assets
36,412
38,679
7,860
8,488
Goodwill
—
—
10,367
10,050
Other Long-Term Assets
471
12,305
1,389
1,384
Total Assets
190,071
159,476
202,981
242,587
Accounts Payable
1,586
1,368
1,191
1,397
Accrued Expenses
6,838
7,195
8,713
8,847
Current Portion of Leases
681
1,473
2,016
1,468
Unearned Revenue
8,934
10,417
10,629
7,514
Other Current Liabilities
16,025
4,696
—
—
Total Current Liabilities
34,064
25,149
22,549
19,226
Long-Term Debt
—
—
—
15,000
Leases
3,947
2,600
3,929
3,040
Other Long-Term Liabilities
8,361
17,135
11,012
14,722
Total Long-Term Liabilities
12,308
19,735
14,941
32,762
Total Liabilities
46,372
44,884
37,490
51,988
Common Stock
36
35
33
32
Additional Paid-in Capital
366,925
356,216
334,692
323,969
Accumulated Other Comprehensive Income
54
1,146
1,365
798
Retained Earnings
(223,316)
(242,805)
(170,599)
(134,200)
Total Common Shareholders' Equity
143,699
114,592
165,491
190,599
Total Shareholders' Equity
143,699
114,592
165,491
190,599
Total Liabilities and Shareholders' Equity
190,071
159,476
202,981
242,587
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
19,489
(72,206)
(36,399)
(33,563)
Depreciation & Amortization
4,465
4,682
2,384
1,614
Share-Based Compensation Expense
9,845
11,763
9,787
7,207
Other Adjustments
(42,190)
28,056
1,436
455
Changes in Trade Receivables
220
(2,927)
680
5,930
Changes in Inventories
(3,731)
(1,664)
(3,902)
(5,475)
Changes in Accounts Payable
(5,931)
2,319
2,033
452
Changes in Unearned Revenue
(3,177)
(368)
179
1,892
Changes in Other Operating Activities
(2,678)
98
(563)
558
Cash from Operating Activities
(23,688)
(30,247)
(25,059)
(20,930)
Capital Expenditure
(955)
(602)
(2,045)
(2,045)
Purchases of Investments
(64,005)
(55,500)
(48,874)
—
Proceeds from Sale of Investments
47,798
54,564
24,519
—
Payments for Business Acquisitions
(2,000)
(44,783)
—
(13,762)
Proceeds from Business Divestments
69,909
—
—
—
Cash from Investing Activities
50,747
(46,321)
(26,400)
(15,807)
Issuance of Short-Term Debt
—
—
—
60,000
Repayments of Short-Term Debt
—
—
(15,000)
(60,000)
Net Issuance / (Repayments) of Short-Term Debt
—
—
(15,000)
0
Issuance of Common Shares
864
1,146
936
1,553
Repurchases of Common Shares
(833)
(1,105)
(776)
(262)
Net Issuance / (Repurchases) of Common Shares
31
41
160
1,291
Other Financing Activities
(728)
(417)
(1,095)
(112)
Cash from Financing Activities
(697)
(376)
(15,935)
1,179
Effect of Exchange Rate Changes on Cash and Cash Equivalents
27
(65)
13
18
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash