908 Devices Announces Preliminary Fourth Quarter and Full Year 2024 Financial Results
908 Devices (Nasdaq: MASS) announced preliminary unaudited financial results for Q4 and full year 2024. Q4 revenue is expected to reach $17.2 million, up 20% from $14.4 million in Q4 2023. Full-year 2024 revenue is anticipated at $58.0 million, showing 15% growth compared to $50.2 million in 2023, meeting the high end of revenue guidance.
Both handheld and desktop revenues showed double-digit growth year-over-year in Q4, with desktop revenues also growing sequentially. The RedWave Technology acquisition, completed in April 2024, is expected to meet its post-acquisition revenue target of $11 million for approximately 8 months of ownership, delivering double-digit pro-forma growth. The company consumed about $2 million in cash during Q4, ending with $69.5 million in cash, cash equivalents, and marketable securities.
908 Devices (Nasdaq: MASS) ha annunciato risultati finanziari preliminari non auditati per il Q4 e per l'intero anno 2024. Si prevede che le entrate del Q4 raggiungano 17,2 milioni di dollari, con un aumento del 20% rispetto ai 14,4 milioni di dollari del Q4 2023. Le entrate dell'intero anno 2024 sono stimate in 58,0 milioni di dollari, mostrando una crescita del 15% rispetto ai 50,2 milioni di dollari del 2023, raggiungendo l'estremità alta delle previsioni di fatturato.
Sia le entrate delle unità portatili che quelle delle postazioni hanno mostrato una crescita a doppia cifra rispetto all'anno precedente nel Q4, con le entrate delle postazioni che sono anche aumentate sequenzialmente. L'acquisizione della RedWave Technology, completata ad aprile 2024, dovrebbe raggiungere il suo obiettivo di fatturato post-acquisizione di 11 milioni di dollari per circa 8 mesi di proprietà, offrendo una crescita pro-forma a doppia cifra. L'azienda ha consumato circa 2 milioni di dollari in contante durante il Q4, chiudendo con 69,5 milioni di dollari in contante, equivalenti in contante e titoli facilmente vendibili.
908 Devices (Nasdaq: MASS) anunció resultados financieros preliminares no auditados para el Q4 y para todo el año 2024. Se espera que los ingresos del Q4 alcancen 17,2 millones de dólares, un aumento del 20% respecto a los 14,4 millones de dólares del Q4 2023. Se anticipa que los ingresos del año completo 2024 sean de 58,0 millones de dólares, mostrando un crecimiento del 15% en comparación con los 50,2 millones de dólares de 2023, alcanzando el extremo superior de la guía de ingresos.
Tanto los ingresos de las unidades portátiles como los de escritorio mostraron un crecimiento de dos dígitos interanual en el Q4, con los ingresos de escritorio también creciendo secuencialmente. La adquisición de RedWave Technology, completada en abril de 2024, se espera que cumpla con su objetivo de ingresos post-adquisición de 11 millones de dólares durante aproximadamente 8 meses de propiedad, ofreciendo un crecimiento pro-forma de dos dígitos. La empresa consumió alrededor de 2 millones de dólares en efectivo durante el Q4, terminando con 69,5 millones de dólares en efectivo, equivalentes en efectivo y valores negociables.
908 Devices (Nasdaq: MASS)는 2024년 4분기 및 전체 연도에 대한 예비 감사되지 않은 재무 결과를 발표했습니다. 4분기 수익은 1,720만 달러에 이를 것으로 예상되며, 이는 2023년 4분기 1,440만 달러보다 20% 증가한 수치입니다. 2024년 전체 연도 수익은 5,800만 달러로 예상되며, 이는 2023년 5,020만 달러에 비해 15% 성장한 것으로, 수익 가이던스의 상단에 도달합니다.
휴대용 및 데스크탑 수익 모두 4분기 동안 연간 두 자릿수 성장을 보였으며, 데스크탑 수익 또한 순차적으로 성장했습니다. 2024년 4월에 완료된 RedWave Technology 인수는 약 8개월의 소유 기간 동안 1,100만 달러의 인수 후 수익 목표를 달성할 것으로 예상되며, 두 자릿수의 pro-forma 성장을 달성할 것입니다. 이 회사는 4분기 동안 약 200만 달러의 현금을 소진했으며, 현금, 현금 등가물 및 시장성 있는 증권으로 6,950만 달러로 마감했습니다.
908 Devices (Nasdaq: MASS) a annoncé des résultats financiers préliminaires non audités pour le quatrième trimestre et l'ensemble de l'année 2024. Les revenus du quatrième trimestre devraient atteindre 17,2 millions de dollars, soit une augmentation de 20 % par rapport à 14,4 millions de dollars au quatrième trimestre 2023. Les revenus de l'ensemble de l'année 2024 sont anticipés à 58,0 millions de dollars, affichant une croissance de 15 % par rapport à 50,2 millions de dollars en 2023, atteignant le haut de la fourchette des prévisions de revenus.
Tant les revenus des appareils portables que ceux des ordinateurs de bureau ont enregistré une croissance à deux chiffres d'une année sur l'autre au quatrième trimestre, les revenus des postes de travail connaissant également une croissance séquentielle. L'acquisition de RedWave Technology, finalisée en avril 2024, devrait atteindre son objectif de revenus post-acquisition de 11 millions de dollars pour environ 8 mois de propriété, offrant une croissance pro forma à deux chiffres. L'entreprise a consommé environ 2 millions de dollars en espèces au cours du quatrième trimestre, terminant avec 69,5 millions de dollars en espèces, équivalents de liquidités et titres négociables.
908 Devices (Nasdaq: MASS) hat vorläufige, ungeprüfte Finanzzahlen für das vierte Quartal und das gesamte Jahr 2024 bekannt gegeben. Der Umsatz im vierten Quartal wird voraussichtlich 17,2 Millionen Dollar erreichen, was einem Anstieg von 20% gegenüber 14,4 Millionen Dollar im vierten Quartal 2023 entspricht. Der Umsatz für das gesamte Jahr 2024 wird auf 58,0 Millionen Dollar geschätzt, was einem Wachstum von 15% im Vergleich zu 50,2 Millionen Dollar im Jahr 2023 entspricht und die obere Grenze der Umsatzprognose erreicht.
Sowohl die Umsätze aus Handhelds als auch aus Desktop-Geräten zeigten im vierten Quartal einen zweiziffrigen Anstieg im Vergleich zum Vorjahr, wobei auch die Desktop-Umsätze sequenziell zunahmen. Die Akquisition der RedWave Technology, die im April 2024 abgeschlossen wurde, wird voraussichtlich ihr Ziel nach der Übernahme von 11 Millionen Dollar für etwa 8 Monate im Besitz erreichen, was ein zweiziffriges pro-forma Wachstum liefert. Das Unternehmen verbrauchte im vierten Quartal etwa 2 Millionen Dollar in Bar, und endete mit 69,5 Millionen Dollar in Bar, Barausgleichen und handelbaren Wertpapieren.
- Q4 2024 revenue increased 20% YoY to $17.2 million
- Full year 2024 revenue grew 15% to $58.0 million
- Double-digit growth in both handheld and desktop segments
- RedWave Technology acquisition on track to meet $11 million revenue target
- Strong cash position of $69.5 million
- Cash consumption of $2 million in Q4 2024
Insights
The preliminary Q4 results showcase strong execution with revenue of
The RedWave Technology acquisition is performing according to plan, contributing
Double-digit growth in both handheld and desktop segments indicates healthy demand across product lines. The expanded handheld portfolio through RedWave's FTIR devices is gaining traction, potentially opening new market opportunities. However, investors should monitor gross margins and operating leverage in upcoming detailed results to assess profitability trajectory.
The chemical analysis instrumentation market dynamics are clearly favoring 908 Devices' positioning. The double-digit growth in handheld devices reflects increasing adoption in field applications like safety & security, while desktop growth signals expanding penetration in pharmaceutical and biotech research markets.
The successful integration of RedWave's FTIR technology broadens the addressable market significantly, complementing the existing mass spectrometry portfolio. This diversification reduces technology concentration risk and positions the company to capture a larger share of the
Think of it like expanding from selling just smartphones to offering both smartphones and tablets - it opens up new customer segments and use cases. The
Full year 2024 reported revenue growth of at least
Preliminary unaudited revenue for the fourth quarter of 2024 is expected to be approximately
Preliminary unaudited revenue for the year ended December 31, 2024 is expected to be approximately
During the fourth quarter of 2024, approximately
“We are pleased with the momentum our business delivered in the fourth quarter, across both handhelds and desktops,” said Kevin J. Knopp, CEO and Co-founder. “We saw increased demand for our recently acquired handheld FTIR devices, which reinforces our confidence in the multi-year growth trajectory of our expanded handheld portfolio.”
The Company plans to report its fourth quarter and full year 2024 financial results later this quarter, at which time the Company will discuss its 2024 financial results in more detail and provide its outlook for 2025.
The Company’s preliminary unaudited 2024 revenue results are based on current expectations and may be adjusted as a result of, among other things, completion of annual audit procedures. This financial information does not represent a comprehensive statement of the Company’s financial results for the fourth quarter or full year 2024 and remains subject to the completion of financial closing procedures and internal reviews.
About 908 Devices
908 Devices is revolutionizing chemical analysis with its simple handheld and desktop devices, addressing life-altering applications. The Company’s devices are used at the point-of-need to interrogate unknown and invisible materials and provide quick, actionable answers to directly address some of the most critical problems in forensics, bioprocessing, pharma / biopharma, life sciences research and adjacent markets. The Company is headquartered in the heart of
Forward Looking Statements
This press release includes “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements, including, without limitation, statements regarding the Company’s future revenue and growth. Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on management’s current expectations and involve known and unknown risks, uncertainties and assumptions which may cause actual results to differ materially from any results expressed or implied by any forward-looking statement, including the risks outlined under “Risk Factors” and elsewhere in the Company’s filings with the Securities and Exchange Commission which are available on the SEC's website at www.sec.gov. Additional information will be made available in our annual and quarterly reports and other filings that we make from time to time with the SEC. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it cannot guarantee future results. The Company has no obligation, and does not undertake any obligation, to update or revise any forward-looking statement made in this press release to reflect changes since the date of this press release, except as may be required by law.
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Investor Contact:
Carrie Mendivil
IR@908devices.com
Media Contact:
Barbara Russo
brusso@908devices.com
Source: 908 Devices Inc.
FAQ
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