908 Devices Inc. MASS
We are making chemical analysis simple, smart and speedy with our purpose-built handheld devices that empower people to take swift action in life-altering applications.
We have developed an innovative suite of purpose-built handheld devices for point-of-need chemical analysis. Leveraging mass spectrometry, or Mass Spec, and optical spectroscopy, analytics and machine learning technologies, we make devices that are significantly smaller and more accessible than conventional laboratory instruments. Our devices are used at the point-of-need to interrogate unknown and invisible materials and provide quick, actionable answers to directly address some of the most critical problems in vital health, safety and defense tech applications, addressing the fentanyl and illicit drug crisis, toxic carcinogen exposure, and global security threats. The term "products" or "devices" used in this "Business" section each refer to the MX908, ThreatID, ProtectIR, XplorIR, and VipIR.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $56.2M | $47.7M | $50.2M | $46.9M | $42.2M | $26.9M | — |
| Cost of revenue | $27.8M | $23.2M | $24.9M | $20.8M | $19.0M | $12.0M | — |
| Gross profit | $28.4M | $24.5M | $25.3M | $26.0M | $23.2M | $14.9M | — |
| R&D | $15.6M | $15.0M | $21.9M | $17.5M | $13.1M | $8.2M | — |
| SG&A | $38.5M | $39.5M | $46.1M | $43.9M | $32.2M | $12.5M | — |
| Total operating expenses | $67.8M | $81.9M | $68.1M | $61.4M | $45.3M | $20.7M | — |
| Operating income | -$39.4M | -$57.4M | -$42.8M | -$35.4M | -$22.1M | -$5.8M | — |
| Interest expense | — | — | $201.0K | $129.0K | $486.0K | $976.0K | — |
| Pre-tax income | -$33.3M | -$53.1M | -$36.6M | -$33.6M | — | — | — |
| Income tax | $66.0K | $282.0K | $211.0K | $0 | — | — | — |
| Net income | $19.5M | -$72.2M | -$36.4M | -$33.6M | -$22.2M | -$12.8M | — |
| EPS, basic | 0.54 | -2.12 | -1.13 | -1.07 | -0.79 | -2.35 | — |
| EPS, diluted | 0.54 | -2.12 | -1.13 | -1.07 | -0.79 | -2.35 | — |
| Shares, diluted (wtd. avg.) | 35.9M | 34.1M | 32.2M | 31.5M | 28.0M | 5.5M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $70.5M | $44.0M | $121.2M | $188.6M | $224.1M | $159.2M | $17.9M |
| Short-term investments | $42.5M | $25.6M | $24.6M | — | — | — | — |
| Receivables | $11.3M | $8.9M | $9.0M | $10.0M | $16.4M | $6.8M | — |
| Inventory | $13.0M | $10.9M | $14.9M | $12.5M | $7.9M | $4.6M | — |
| Total current assets | $144.6M | $103.1M | $173.8M | $215.6M | $252.9M | $171.0M | — |
| Property, plant and equipment | $4.2M | $1.6M | $3.3M | $3.1M | $1.6M | $850.0K | — |
| Goodwill | $0 | $0 | $10.4M | $10.1M | — | — | — |
| Other intangibles | $36.4M | $38.7M | $7.9M | $8.5M | — | — | — |
| Total assets | $190.1M | $159.5M | $203.0M | $242.6M | $260.9M | $178.8M | — |
| Accounts payable | $1.6M | $1.4M | $1.2M | $1.4M | $1.4M | $1.0M | — |
| Short-term debt | — | — | — | — | — | $500.0K | — |
| Total current liabilities | $34.1M | $25.1M | $22.5M | $19.2M | $14.8M | $10.8M | — |
| Long-term debt | — | — | — | $15.0M | $15.0M | $14.3M | — |
| Total liabilities | $46.4M | $44.9M | $37.5M | $52.0M | $46.3M | $39.8M | — |
| Retained earnings | -$223.3M | -$242.8M | -$170.6M | -$134.2M | -$100.6M | -$78.5M | — |
| Total equity | $143.7M | $114.6M | $165.5M | $190.6M | $214.6M | $139.0M | -$63.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$23.7M | -$30.2M | -$25.1M | -$20.9M | -$29.1M | $4.1M | — |
| Depreciation and amortisation | $4.5M | $4.7M | $2.4M | $1.6M | $925.0K | $831.0K | — |
| Stock-based compensation | $9.8M | $11.8M | $9.8M | $7.2M | $2.5M | $525.0K | — |
| Capital expenditure | $955.0K | $602.0K | $2.0M | $2.0M | $737.0K | $9.0K | — |
| Investing cash flow | $50.7M | -$46.3M | -$26.4M | -$15.8M | -$737.0K | -$9.0K | — |
| Financing cash flow | -$697.0K | -$376.0K | -$15.9M | $1.2M | $94.7M | $137.2M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-050795.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $26.9M | $42.2M | $46.9M | $50.2M | $47.7M | $56.2M |
| Gross profit | — | $14.9M | $23.2M | $26.0M | $25.3M | $24.5M | $28.4M |
| Net income | — | -$12.8M | -$22.2M | -$33.6M | -$36.4M | -$72.2M | $19.5M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Results announced Item 2.02
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Results announced Item 2.02
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 3826
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| A | AGILENT TECHNOLOGIES, INC. | $48.79B | 37.9x | 6.7% |
| WAT | WATERS CORP /DE/ | $44.57B | 42.2x | 7.0% |
| ILMN | ILLUMINA, INC. | $40.68B | 49.4x | -0.7% |
| MTD | METTLER TOLEDO INTERNATIONAL INC/ | $33.47B | 39.7x | 4.0% |
| RVTY | REVVITY, INC. | $17.72B | 76.7x | 3.7% |
| AVTR | Avantor, Inc. | $11.80B | — | -3.4% |
| BIO | BIO-RAD LABORATORIES, INC. | $9.89B | 13.3x | 0.7% |
| TXG | 10x Genomics, Inc. | $9.30B | — | 5.2% |