Welcome to our dedicated page for 908 Devices news (Ticker: MASS), a resource for investors and traders seeking the latest updates and insights on 908 Devices stock.
908 Devices Inc. (Symbol: MASS) is revolutionizing the field of chemical analysis by making mass spectrometry accessible and user-friendly. Headquartered in Boston, the company specializes in developing point-of-need chemical analysis devices that range from rugged handheld tools to compact and efficient analyzers. These devices, based on advanced High Pressure Mass Spectrometry (HPMS), are designed to offer quick, actionable insights into unknown and invisible materials.
908 Devices serves a variety of industries, including safety and security, oil & gas, life sciences, and other applied markets. Their products are purpose-built and user-centric, catering to the specific needs of each market. The company is committed to providing innovative solutions that address critical problems in sectors such as life sciences research, bioprocessing, industrial biotech, and forensics.
In terms of financial performance, 908 Devices derives the bulk of its revenue from the United States, although it also has a significant presence in Europe, the Middle East, Africa, the Americas, and the Asia Pacific region. Recent achievements include the development of a suite of advanced Mass Spec devices that are compact yet highly effective. These devices are designed to be used at the point of need, offering rapid and reliable chemical analysis that is crucial for various applications.
One of the key areas of focus for 908 Devices is to democratize chemical analysis, making it more accessible and easier to use for a broader range of users. By doing so, the company aims to accelerate the pace of innovation and discovery in multiple fields. Their products are not only technologically advanced but also user-friendly, ensuring that even non-experts can operate them effectively.
In the latest news, 908 Devices continues to push the boundaries of what is possible with mass spectrometry. They have recently announced several new partnerships and product launches that aim to further enhance their capabilities and market reach. These developments highlight the company's commitment to staying at the forefront of the chemical analysis industry.
908 Devices Inc (NASDAQ: MASS) announced that National Resilience, Inc. has adopted its REBEL at-line media analyzers, enhancing the optimization of cell culture feed strategies. This partnership aims to improve biotherapeutic development by utilizing REBEL to analyze spent media samples, resulting in a reported 50% increase in titer while reducing costs by supplementing only depleted nutrients. Andy Grube from Resilience highlighted the tool's capability to accelerate media feed optimization and reduce time to submission. The REBEL analyzer is noted for its efficiency, real-time data tracking of key nutrients, and user-friendly design, facilitating better decisions during bioreactor runs.
908 Devices (NASDAQ: MASS) announced it will reveal its financial results for the first quarter 2023 on May 9, 2023, before market open. A conference call will follow at 5:30 a.m. PT / 8:30 a.m. ET, available via a webcast on the company’s website. The webcast will also be archived for playback within 24 hours post-event.
The company specializes in handheld and desktop devices for chemical and biochemical analysis, significantly impacting life sciences, bioprocessing, pharma/biopharma, and forensics. The innovative technology employs mass spectrometry and machine learning for rapid, actionable insights.
908 Devices Inc. (Nasdaq: MASS) reported a full year 2022 revenue of $46.9 million, an 11% increase year-over-year, with desktop revenue soaring 25%. Recurring revenue more than doubled, reaching $15.7 million. Despite these gains, Q4 revenue declined 27% to $11.6 million, attributed to fewer product placements compared to a significant shipment to the U.S. Army in Q4 2021. 2023 guidance projects revenue between $48 million and $52 million, reflecting a modest growth of 2% to 11%. The company ended 2022 with $188 million in cash and had a net loss of $33.6 million for the year.
908 Devices, a pioneer in handheld and desktop devices for chemical and biochemical analysis, will participate in the Cowen 43rd Annual Healthcare Conference in Boston, MA. Management is scheduled for a fireside chat on Wednesday, March 8, at 9:50 a.m. ET. Interested parties can access a live and archived webcast of the presentation via the company website at www.908devices.com. The company focuses on life sciences, bioprocessing, and forensics, providing rapid analysis to address critical issues in various markets.
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