MASS

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908 Devices Inc.

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Key Metrics

Previous Close: $10.24
52-Week Range: $5.03 – $10.70
Market Cap: $427.80M
P/E (TTM): —
EPS (TTM): -0.93
Dividend Yield: —

Advanced Metrics

Price/Book: 2.89
PEG Ratio: —
Return on Equity: -24.95%
Return on Assets: -6.81%
Gross Margin: 52.65%
Operating Margin: -39.61%
Profit Margin: -56.96%
Current Ratio: 2.67
Debt/Equity: 0.03
Total Debt: $4.30M
Free Cash Flow: $18.68M
Revenue Growth: 23.30%
Earnings Growth: —
Enterprise Value: $326.02M

MASS Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$46.85M	$50.23M	$47.75M	$56.20M
Cost of Revenue	$20.83M	$24.91M	$23.25M	$27.77M
Gross Profit	$26.02M	$25.32M	$24.50M	$28.42M
Research & Development	$17.53M	$21.90M	$14.99M	$15.57M
Selling, General & Admin	$43.88M	$46.07M	$39.46M	$38.53M
Operating Expenses	$61.41M	$67.97M	$54.45M	$54.10M
Operating Income	-$35.38M	-$42.65M	-$29.95M	-$25.68M
EBITDA	-$31.82M	-$34.02M	-$25.27M	-$21.21M
Pretax Income	-$33.56M	-$36.61M	-$53.14M	-$33.34M
Income Tax	$0.00	-$211.00K	$0.00	-$66.00K
Net Income	-$33.56M	-$36.40M	-$72.21M	$19.49M
Diluted EPS	-1.07	-1.13	-2.12	0.54
Diluted Shares	31.49M	32.24M	34.08M	35.90M

MASS Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$188.42M	$121.04M	$43.35M	$70.52M
Receivables	$10.03M	$8.99M	$8.85M	$11.33M
Inventory	$12.51M	$14.94M	$10.89M	$12.99M
Current Assets	$215.63M	$173.79M	$103.06M	$144.56M
Total Assets	$242.59M	$202.98M	$159.48M	$190.07M
Current Liabilities	$19.23M	$22.55M	$25.15M	$34.06M
Long-Term Debt	$15.00M	—	—	—
Total Debt	$19.51M	$5.95M	$4.07M	$4.63M
Total Liabilities	$51.99M	$37.49M	$44.88M	$46.37M
Retained Earnings	-$134.20M	-$170.60M	-$242.81M	-$223.32M
Shareholders' Equity	$190.60M	$165.49M	$114.59M	$143.70M
Working Capital	$196.40M	$151.24M	$77.91M	$110.50M

MASS Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$20.93M	-$25.06M	-$30.25M	-$23.69M
Capital Expenditure	-$2.04M	-$2.04M	-$602.00K	-$955.00K
Free Cash Flow	-$22.98M	-$27.10M	-$30.85M	-$24.64M
Depreciation & Amortisation	$1.61M	$2.38M	$4.68M	$4.46M
Stock-Based Compensation	$7.21M	$9.79M	$11.76M	$9.85M
Investing Cash Flow	-$15.81M	-$26.40M	-$46.32M	$50.75M
Financing Cash Flow	$1.18M	-$15.94M	-$376.00K	-$697.00K
Net Change in Cash	-$35.56M	-$67.39M	-$76.94M	$26.36M

MASS Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$11.78M	$13.04M	$14.01M	$17.38M	$13.38M
Cost of Revenue	$6.24M	$6.66M	$6.65M	$8.23M	$6.50M
Gross Profit	$5.54M	$6.37M	$7.36M	$9.15M	$6.88M
Research & Development	$3.83M	$4.41M	$3.84M	$3.50M	$3.47M
Selling, General & Admin	$10.24M	$10.34M	$9.13M	$8.82M	$9.91M
Operating Expenses	$14.07M	$14.74M	$12.97M	$12.32M	$13.38M
Operating Income	-$8.53M	-$8.37M	-$5.62M	-$3.17M	-$6.50M
EBITDA	-$7.24M	-$7.40M	-$4.53M	-$2.06M	-$5.36M
Pretax Income	-$9.84M	-$12.84M	-$14.88M	$4.21M	-$11.96M
Income Tax	—	$71.00K	$29.00K	-$166.00K	—
Net Income	$43.60M	-$13.31M	-$14.98M	$4.17M	-$11.96M
Diluted EPS	1.23	-0.37	-0.41	0.10	-0.32
Diluted Shares	35.39M	35.88M	36.10M	38.92M	36.82M

MASS Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$79.16M	$61.75M	$62.80M	$70.52M	$67.56M
Receivables	$6.93M	$6.21M	$11.00M	$11.33M	$9.87M
Inventory	$12.74M	$15.46M	$15.33M	$12.99M	$13.24M
Current Assets	$149.00M	$147.87M	$144.94M	$144.56M	$142.01M
Total Assets	$196.03M	$191.70M	$190.87M	$190.07M	$186.69M
Current Liabilities	$19.56M	$29.71M	$41.48M	$34.06M	$39.66M
Total Debt	$3.77M	$4.43M	$4.35M	$4.63M	$4.47M
Total Liabilities	$36.60M	$42.88M	$54.57M	$46.37M	$52.52M
Retained Earnings	-$199.20M	-$212.51M	-$227.49M	-$223.32M	-$235.27M
Shareholders' Equity	$159.42M	$148.82M	$136.30M	$143.70M	$134.17M
Working Capital	$129.44M	$118.16M	$103.46M	$110.50M	$102.35M

MASS Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$15.02M	-$5.78M	-$4.20M	$1.32M	$1.21M
Capital Expenditure	-$159.00K	-$122.00K	-$680.00K	—	-$40.00K
Free Cash Flow	-$15.18M	-$5.91M	-$4.88M	$1.32M	$1.17M
Depreciation & Amortisation	$1.29M	$972.00K	$1.09M	$1.11M	$1.14M
Stock-Based Compensation	$2.37M	$2.34M	$2.38M	$2.77M	$2.40M
Investing Cash Flow	$50.31M	-$11.59M	$5.21M	$6.81M	-$1.99M
Financing Cash Flow	-$189.00K	-$78.00K	-$16.00K	-$414.00K	-$2.17M
Net Change in Cash	$35.10M	-$17.45M	$991.00K	$7.71M	-$2.95M

Market Snapshot

About

908 Devices Inc. develops and manufactures handheld mass spectrometry devices for chemical and biomolecular analysis. The company provides rapid, on-site testing solutions for life sciences research, bioprocessing, and safety/security applications. 908 Devices products enable faster decision-making by bringing laboratory-quality analysis to the point of need.