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Dec 31, 2021
908 Devices Q4 2021 Earnings Report
Reported a significant revenue increase driven by handheld device sales and expanded install base.
Key Takeaways
908 Devices reported a strong fourth quarter with a 177% increase in revenue compared to the prior year period. The growth was primarily driven by increased handheld revenue from shipments to the US Army and desktop revenue growth. The company's install base also expanded significantly.
Revenue increased by 177% year over year, reaching $15.8 million.
Handheld revenue grew by 262%, driven by shipments to the US Army.
Desktop revenue increased by 53% year over year.
Net loss decreased to $3.5 million, compared to $10.2 million in the prior year period.
908 Devices
908 Devices
Forward Guidance
908 Devices expects full year 2022 revenue to be in the range of $52 million to $55 million, representing 23% to 30% growth over full year 2021.
Positive Outlook
- Projected revenue growth of 23% to 30% for full year 2022.
- Continued strong demand for handheld devices.
- Growing adoption of desktop devices.
- Expansion of install base.
- Strong cash position to support growth initiatives.
Challenges Ahead
- Uncertainties in the macroeconomic environment.
- Potential supply chain disruptions.
- Increased operating expenses.
- Competition in the mass spectrometry market.
- Dependence on key customers and contracts.