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Dec 31, 2020
908 Devices Q4 2020 Earnings Report
Reported a 32% revenue decline driven by decrease in license and contract revenue, and a net loss due to a non-cash charge from preferred stock warrant revaluation.
Key Takeaways
908 Devices reported a revenue of $5.7 million for Q4 2020, a 32% decrease compared to Q4 2019. The company's net loss was $10.2 million, driven by a non-cash charge related to preferred stock warrants.
Revenue decreased by 32% compared to the same quarter last year, totaling $5.7 million.
Gross profit was $2.6 million with a gross margin of 45%.
Net loss was $10.2 million, impacted by a $6.1 million non-cash charge.
Full year revenue increased by 50% year over year.
908 Devices
908 Devices
Forward Guidance
908 Devices expects full year 2021 revenue to be in the range of $38 million to $40 million, representing 41% to 49% growth over full year 2020.
Positive Outlook
- Full year 2021 revenue expected to be in the range of $38 million to $40 million.
- Revenue growth of 41% to 49% expected over full year 2020.
- Continuing to drive adoption of technology across new and existing customers.
- Dramatically accelerate workflows for customers.
- Building a strong foundation for technology across new customers.