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Jun 30, 2024
908 Devices Q2 2024 Earnings Report
Reported a revenue increase of 16% compared to the prior year, driven by newly acquired handheld products.
Key Takeaways
908 Devices reported a 16% increase in revenue compared to the prior year, reaching $14.0 million for the second quarter of 2024. This growth was primarily driven by an increase in handheld devices revenue, which was offset by a decrease in desktop devices revenue. The company's gross profit was $7.4 million with a gross margin of 53%.
Revenue increased by 16% year-over-year, reaching $14.0 million.
Gross profit was $7.4 million, with a gross margin of 53%.
The installed base grew to 3,067 devices.
Recurring revenue represented 38% of total revenues in the quarter.
Revenue by Segment
Forward Guidance
908 Devices expects full year 2024 revenue to be in the range of $63.0 million to $65.0 million, representing 25% to 29% growth over full year 2023. This includes $11 million of expected revenue from RedWave Technology, representing 8 months of ownership.
Positive Outlook
- Full year 2024 revenue expected to be in the range of $63.0 million to $65.0 million.
- Expected revenue from RedWave Technology is $11 million.
- Represents 25% to 29% growth over full year 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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