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Dec 31, 2023
908 Devices Q4 2023 Earnings Report
Reported a revenue increase driven by handheld revenue, but faced headwinds in life science instrumentation.
Key Takeaways
908 Devices reported a 23% increase in revenue for the fourth quarter of 2023, primarily driven by a 57% increase in handheld device revenue. The installed base grew, and recurring revenue represented 33% of total revenues. Despite near-term headwinds in the life science sector, the company launched two additional desktop devices.
Revenue increased by 23% compared to the prior year period.
Handheld devices revenue increased by 57% year-over-year.
The installed base grew to 2,853 devices with 139 devices placed during the quarter.
Net loss narrowed to $7.4 million, compared to $9.8 million in the prior year period.
Forward Guidance
908 Devices expects full year 2024 revenue to be in the range of $52.0 million to $54.0 million, representing 4% to 8% growth over full year 2023.
Positive Outlook
- Full year 2024 revenue expected to be in the range of $52.0 million to $54.0 million.
- Projected revenue growth of 4% to 8% over full year 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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