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Sep 30, 2024
908 Devices Q3 2024 Earnings Report
Revenue increased by 17% year-over-year, driven by recently acquired handheld products, but overall results fell short of expectations due to several challenges.
Key Takeaways
908 Devices reported a 17% increase in revenue compared to the prior year, driven by newly acquired handheld products. However, Q3 results fell short of expectations due to a delayed federal budget, international contract delays, and softness in the bioprocessing and life science instrumentation market. The company is implementing structural changes to increase cost efficiency and expand gross margins.
Revenue increased by 17% year-over-year, driven by recently acquired handheld products.
The installed base grew 20% year-over-year to 3,253 devices.
Recurring revenue represented 36% of total revenues in the quarter.
The company now expects full year 2024 revenue to be in the range of $56 million to $58 million, representing 11% to 15% growth over full year 2023.
Revenue by Segment
Forward Guidance
908 Devices now expects full year reported 2024 revenue to be in the range of $56 million to $58 million, representing 11% to 15% growth over full year 2023. This includes approximately $10 million of expected revenue from RedWave Technology, representing 8 months of ownership.
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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