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Jun 30, 2023
908 Devices Q2 2023 Earnings Report
Reported a 9% revenue increase compared to the prior year, driven by handheld revenue growth of 27%.
Key Takeaways
908 Devices reported solid second-quarter results driven by robust demand for handheld devices and strong recurring revenue. Revenue increased by 9% compared to the prior year, and the installed base grew to 2,590 devices.
Revenue for the quarter was $12.1 million, a 9% increase over the prior year period.
Handheld device revenue experienced substantial growth.
Recurring revenue grew by $1.1 million to $4.0 million, a 39% increase over the prior year period.
The installed base grew to 2,590 devices with 122 devices placed during the second quarter 2023.
908 Devices
908 Devices
Forward Guidance
908 Devices now expects full year 2023 revenue to be in the range of $49 million to $52 million, representing 4% to 11% growth over full year 2022.