908 Devices Inc. Financials
This page shows 908 Devices Inc. (MASS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
908 Devices Inc. has an operating margin of -70.2%, meaning the company retains $-70 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -120.2% the prior year.
908 Devices Inc.'s revenue surged 17.7% year-over-year to $56.2M, reflecting rapid business expansion. This strong growth earns a score of 63/100.
908 Devices Inc. carries a low D/E ratio of 0.32, meaning only $0.32 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.24, 908 Devices Inc. holds $4.24 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 84/100.
While 908 Devices Inc. generated -$23.7M in operating cash flow, capex of $955K consumed most of it, leaving -$24.6M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
908 Devices Inc.'s ROE of 13.6% shows moderate profitability relative to equity, earning a score of 41/100. This is up from -63.0% the prior year.
908 Devices Inc. passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, 908 Devices Inc. generates $-1.22 in operating cash flow (-$23.7M OCF vs $19.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
908 Devices Inc. generated $56.2M in revenue in fiscal year 2025. This represents an increase of 17.7% from the prior year.
908 Devices Inc.'s EBITDA was -$35.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 33.7% from the prior year.
908 Devices Inc. reported $19.5M in net income in fiscal year 2025. This represents an increase of 127.0% from the prior year.
908 Devices Inc. earned $0.54 per diluted share (EPS) in fiscal year 2025. This represents an increase of 125.5% from the prior year.
Cash & Balance Sheet
908 Devices Inc. generated -$24.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 20.1% from the prior year.
908 Devices Inc. held $70.5M in cash against $0 in long-term debt as of fiscal year 2025.
908 Devices Inc. had 36M shares outstanding in fiscal year 2025. This represents an increase of 3.5% from the prior year.
Margins & Returns
908 Devices Inc.'s gross margin was 50.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.7 percentage points from the prior year.
908 Devices Inc.'s operating margin was -70.2% in fiscal year 2025, reflecting core business profitability. This is up 50.0 percentage points from the prior year.
908 Devices Inc.'s net profit margin was 34.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 185.9 percentage points from the prior year.
908 Devices Inc.'s ROE was 13.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 76.6 percentage points from the prior year.
Capital Allocation
908 Devices Inc. invested $15.6M in research and development in fiscal year 2025. This represents an increase of 3.9% from the prior year.
908 Devices Inc. invested $955K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 58.6% from the prior year.
MASS Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $17.4M+24.1% | $14.0M+7.4% | $13.0M+10.7% | $11.8M-17.9% | $14.3M-1.2% | $14.5M+26.7% | $11.5M+54.4% | $7.4M |
| Cost of Revenue | $8.2M+23.7% | $6.7M-0.2% | $6.7M+6.8% | $6.2M-18.7% | $7.7M+13.8% | $6.7M+27.2% | $5.3M+49.9% | $3.5M |
| Gross Profit | $9.2M+24.5% | $7.4M+15.4% | $6.4M+15.0% | $5.5M-17.0% | $6.7M-14.2% | $7.8M+26.2% | $6.2M+58.5% | $3.9M |
| R&D Expenses | $3.5M-8.7% | $3.8M-12.9% | $4.4M+15.0% | $3.8M-1.8% | $3.9M-7.3% | $4.2M+17.1% | $3.6M+9.1% | $3.3M |
| SG&A Expenses | $8.8M-3.5% | $9.1M-11.6% | $10.3M+1.0% | $10.2M-2.1% | $10.5M+8.0% | $9.7M-12.8% | $11.1M+35.4% | $8.2M |
| Operating Income | $3.1M+118.9% | -$16.3M-7.7% | -$15.2M-37.5% | -$11.0M+34.2% | -$16.7M+31.6% | -$24.5M-186.8% | -$8.5M-12.2% | -$7.6M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | $29K-59.2% | $71K | N/A | -$71K+1.4% | -$72K-4.3% | -$69K+1.4% | -$70K |
| Net Income | $4.2M+127.9% | -$15.0M-12.6% | -$13.3M-130.5% | $43.6M+324.2% | -$19.4M+33.6% | -$29.3M-133.5% | -$12.5M-14.9% | -$10.9M |
| EPS (Diluted) | N/A | $-0.41-10.8% | $-0.37-130.1% | $1.23 | N/A | $-0.84-127.0% | $-0.37-12.1% | $-0.33 |
MASS Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $190.1M-0.4% | $190.9M-0.4% | $191.7M-2.2% | $196.0M+22.9% | $159.5M-10.5% | $178.3M-14.6% | $208.8M+10.0% | $189.8M |
| Current Assets | $144.6M-0.3% | $144.9M-2.0% | $147.9M-0.8% | $149.0M+44.6% | $103.1M-5.4% | $108.9M-1.4% | $110.4M-31.8% | $161.9M |
| Cash & Equivalents | $70.5M+12.3% | $62.8M+1.7% | $61.8M-22.0% | $79.2M+79.8% | $44.0M-2.2% | $45.0M-3.8% | $46.8M-55.2% | $104.6M |
| Inventory | $13.0M-15.2% | $15.3M-0.9% | $15.5M+21.4% | $12.7M+17.0% | $10.9M-39.0% | $17.8M-4.1% | $18.6M+13.7% | $16.4M |
| Accounts Receivable | $11.3M+3.0% | $11.0M+77.2% | $6.2M-10.4% | $6.9M-21.7% | $8.9M-46.9% | $16.7M+51.6% | $11.0M+46.8% | $7.5M |
| Goodwill | $0 | N/A | N/A | N/A | $0-100.0% | $10.1M-74.8% | $40.2M+296.7% | $10.1M |
| Total Liabilities | $46.4M-15.0% | $54.6M+27.3% | $42.9M+17.2% | $36.6M-18.4% | $44.9M-5.0% | $47.2M-9.9% | $52.4M+59.3% | $32.9M |
| Current Liabilities | $34.1M-17.9% | $41.5M+39.6% | $29.7M+51.9% | $19.6M-22.2% | $25.1M-2.2% | $25.7M+18.4% | $21.7M+12.3% | $19.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $143.7M+5.4% | $136.3M-8.4% | $148.8M-6.7% | $159.4M+39.1% | $114.6M-12.6% | $131.0M-16.2% | $156.4M-0.3% | $156.9M |
| Retained Earnings | -$223.3M+1.8% | -$227.5M-7.1% | -$212.5M-6.7% | -$199.2M+18.0% | -$242.8M-8.7% | -$223.4M-15.1% | -$194.1M-6.9% | -$181.5M |
MASS Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.3M+131.4% | -$4.2M+27.3% | -$5.8M+61.5% | -$15.0M-569.6% | -$2.2M+60.0% | -$5.6M+57.0% | -$13.0M-39.4% | -$9.4M |
| Capital Expenditures | -$6K-100.9% | $680K+457.4% | $122K-23.3% | $159K-16.3% | $190K+21.8% | $156K+124.1% | -$647K-171.7% | $903K |
| Free Cash Flow | $1.3M+126.9% | -$4.9M+17.3% | -$5.9M+61.1% | -$15.2M-523.8% | -$2.4M+57.8% | -$5.8M+57.9% | -$13.7M-33.4% | -$10.3M |
| Investing Cash Flow | $6.8M+30.7% | $5.2M+145.0% | -$11.6M-123.0% | $50.3M+6350.4% | $780K-79.4% | $3.8M+108.4% | -$45.1M-680.5% | -$5.8M |
| Financing Cash Flow | -$414K-2487.5% | -$16K+79.5% | -$78K+58.7% | -$189K-135.7% | $529K+2200.0% | $23K-93.7% | $367K+128.3% | -$1.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
MASS Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.7%+0.1pp | 52.5%+3.6pp | 48.9%+1.8pp | 47.0%+0.5pp | 46.5%-7.0pp | 53.6%-0.2pp | 53.8%+1.4pp | 52.4% |
| Operating Margin | 17.8%+134.3pp | -116.6%-0.2pp | -116.3%-22.7pp | -93.6%+23.1pp | -116.8%+51.9pp | -168.7%-94.2pp | -74.5%+28.1pp | -102.6% |
| Net Margin | 24.0%+131.0pp | -107.0%-4.9pp | -102.1%-472.3pp | 370.2%+505.8pp | -135.6%+66.2pp | -201.8%-92.3pp | -109.5%+37.6pp | -147.1% |
| Return on Equity | 2.9%+13.9pp | -11.0%-2.1pp | -8.9%-36.3pp | 27.4%+44.3pp | -17.0%+5.4pp | -22.4%-14.3pp | -8.0%-1.1pp | -7.0% |
| Return on Assets | 2.2%+10.1pp | -7.8%-0.9pp | -6.9%-29.2pp | 22.2%+34.4pp | -12.2%+4.2pp | -16.4%-10.4pp | -6.0%-0.3pp | -5.8% |
| Current Ratio | 4.24+0.7 | 3.49-1.5 | 4.98-2.6 | 7.62+3.5 | 4.10-0.1 | 4.24-0.9 | 5.09-3.3 | 8.37 |
| Debt-to-Equity | 0.32-0.1 | 0.40+0.1 | 0.29+0.1 | 0.23-0.2 | 0.39+0.0 | 0.36+0.0 | 0.34+0.1 | 0.21 |
| FCF Margin | 7.5%+42.4pp | -34.9%+10.4pp | -45.3%+83.6pp | -128.9%-111.9pp | -17.0%+22.7pp | -39.7%+79.7pp | -119.4%+18.8pp | -138.2% |
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Frequently Asked Questions
What is 908 Devices Inc.'s annual revenue?
908 Devices Inc. (MASS) reported $56.2M in total revenue for fiscal year 2025. This represents a 17.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is 908 Devices Inc.'s revenue growing?
908 Devices Inc. (MASS) revenue grew by 17.7% year-over-year, from $47.7M to $56.2M in fiscal year 2025.
Is 908 Devices Inc. profitable?
Yes, 908 Devices Inc. (MASS) reported a net income of $19.5M in fiscal year 2025, with a net profit margin of 34.7%.
What is 908 Devices Inc.'s EBITDA?
908 Devices Inc. (MASS) had EBITDA of -$35.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is 908 Devices Inc.'s gross margin?
908 Devices Inc. (MASS) had a gross margin of 50.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is 908 Devices Inc.'s operating margin?
908 Devices Inc. (MASS) had an operating margin of -70.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is 908 Devices Inc.'s net profit margin?
908 Devices Inc. (MASS) had a net profit margin of 34.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is 908 Devices Inc.'s return on equity (ROE)?
908 Devices Inc. (MASS) has a return on equity of 13.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is 908 Devices Inc.'s free cash flow?
908 Devices Inc. (MASS) generated -$24.6M in free cash flow during fiscal year 2025. This represents a 20.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is 908 Devices Inc.'s operating cash flow?
908 Devices Inc. (MASS) generated -$23.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are 908 Devices Inc.'s total assets?
908 Devices Inc. (MASS) had $190.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are 908 Devices Inc.'s capital expenditures?
908 Devices Inc. (MASS) invested $955K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does 908 Devices Inc. spend on research and development?
908 Devices Inc. (MASS) invested $15.6M in research and development during fiscal year 2025.
What is 908 Devices Inc.'s current ratio?
908 Devices Inc. (MASS) had a current ratio of 4.24 as of fiscal year 2025, which is generally considered healthy.
What is 908 Devices Inc.'s debt-to-equity ratio?
908 Devices Inc. (MASS) had a debt-to-equity ratio of 0.32 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is 908 Devices Inc.'s return on assets (ROA)?
908 Devices Inc. (MASS) had a return on assets of 10.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is 908 Devices Inc.'s cash runway?
Based on fiscal year 2025 data, 908 Devices Inc. (MASS) had $70.5M in cash against an annual operating cash burn of $23.7M. This gives an estimated cash runway of approximately 36 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is 908 Devices Inc.'s Piotroski F-Score?
908 Devices Inc. (MASS) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are 908 Devices Inc.'s earnings high quality?
908 Devices Inc. (MASS) has an earnings quality ratio of -1.22x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is 908 Devices Inc.?
908 Devices Inc. (MASS) scores 47 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.