908 DEVICES Reports 8.8% Year-over-Year Increase in Revenue of USD 12.1 Million for Q2 FY2023

August 11, 2023

☀️Earnings Overview

On June 30th, 2023, 908 DEVICES ($NASDAQ:MASS) reported their earnings results for the second quarter of their fiscal year 2023, revealing a total revenue of USD 12.1 million, an 8.8% increase from the previous year. Net income for this quarter amounted to USD -9.4 million, an improvement from last year’s -8.1 million.

Analysis

GoodWhale has conducted an analysis of 908 DEVICES‘ wellbeing, with a Risk Rating score of medium. This indicates that, in terms of financial and business aspects, 908 DEVICES is moderately risky for investors. GoodWhale has found one risk warning in the company’s balance sheet, which can be accessed by registering with GoodWhale. In general, 908 DEVICES appears to be a viable investment option. However, potential investors are advised to conduct further research into the company’s financial and business health before committing to any investments. GoodWhale provides the necessary tools and resources to evaluate the riskiness of any potential investment. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis
  • About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for 908 Devices. More…

    Total Revenues Net Income Net Margin
    49.02 -37.93 -77.4%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for 908 Devices. More…

    Operations Investing Financing
    -28.58 -36.24 -15.2
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for 908 Devices. More…

    Total Assets Total Liabilities Book Value Per Share
    210.83 36.37 5.42
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for 908 Devices are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    37.6% -76.3%
    FCF Margin ROE ROA
    -64.1% -13.2% -11.1%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items




  • Peers

    The company’s products are used in a variety of industries, including healthcare, pharmaceuticals, food and beverage, environmental testing, and forensics. 908 Devices Inc’s main competitors are Cell Kinetics Ltd, Belluscura PLC, and Armm Inc.

    – Cell Kinetics Ltd ($OTCPK:CKNTF)

    Lumicell Inc is a medical device company that develops and commercializes proprietary technologies for the treatment of cancer. The company’s products are based on its proprietary Selective Photothermolysis System, which enables the delivery of energy selectively to cancer cells while sparing healthy tissue. Lumicell’s products are designed to improve patient outcomes and reduce treatment costs.

    – Belluscura PLC ($LSE:BELL)

    Belluscura PLC is a medical technology company that develops, manufactures, and markets medical devices for the treatment of respiratory disorders and other conditions. The company has a market cap of 77.01M as of 2022 and a Return on Equity of -18.87%. Belluscura PLC is headquartered in London, United Kingdom.

    Summary

    Investors in 908 DEVICES were pleased with the company’s performance in the second quarter of FY2023, as total revenue increased 8.8% year-over-year to USD 12.1 million. Despite a net loss of USD -9.4 million, the loss narrowed compared to the prior year’s -8.1 million. Stock prices responded positively to the earnings report, indicating investor confidence in the company’s future outlook. With an attractive growth rate and strong financials, 908 DEVICES remains a solid investment for long-term investors.

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