Loading...
•
Mar 31, 2023
908 Devices Q1 2023 Earnings Report
Reported a 14% increase in revenue compared to the prior year, with recurring revenue growing by 67%.
Key Takeaways
908 Devices reported a 14% increase in revenue for Q1 2023, driven by growth in handheld devices and recurring revenue. The company's installed base grew, and recurring revenue saw a significant increase. They paid down debt of $15 million and ended the quarter with no debt outstanding. The company continues to expect full year 2023 revenue to be in the range of $48 million to $52 million.
Q1 2023 revenue increased by 14% compared to the prior year.
Recurring revenue grew by 67% over the prior year period.
Installed base grew to 2,468 devices with 78 devices placed during the quarter.
The company paid down debt of $15 million and ended the first quarter with no debt outstanding.
908 Devices
908 Devices
Forward Guidance
908 Devices continues to expect full year 2023 revenue to be in the range of $48 million to $52 million, representing 2% to 11% growth over full year 2022.
Positive Outlook
- Full year 2023 revenue expected to be in the range of $48 million to $52 million.
- Revenue guidance represents 2% to 11% growth over full year 2022.