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908 Devices Inc. (MASS) stock

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NASDAQ: MASS Nasdaq Life Sciences Tools & Services Next results ~November 10, 2026

C Fundamentals grade

908 Devices Inc. is a US-listed company in the life sciences tools & services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$3.5

Valuation models combined (3)

Base case. Range ~$2.2–$6.4. Weighted average of 3 models (growth cash-flow model, forward price-to-sales vs peers, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

908 Devices Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 6 selling0 purchases and 59 sales by directors and officers, last 12 monthsInsider trades
  • Funds56 adding, 46 cuttingOf 21 active managers that changed their stake, 13 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter 908 Devices files

Where 908 Devices stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $61m, up 13.4% on a year earlier, faster than the 10.9% growth a quarter earlier. Free-cash-flow margin rose to 1.0% from -54.6% a year earlier. Operating margin widened to -64.0% from -125.6%. The diluted share count is up 4.3% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $4.68 a share, against a share price of $12.91.

Source: 10-Q filed August 11, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 10, 2026 (estimated)

908 Devices Inc.'s trailing-twelve-month revenue grew 13.4% year on year, with a free-cash-flow margin of 1.0%. Where it lags: stock pay as % of revenue of 16.2% ranks 46 of 53 life sciences tools & services companies we cover.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 54% in the quarter to 2026-06-30, the 4th beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 61.6 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.1bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Loss-making. Operating margin is -64.0%: costs exceed revenue.
  • Heavy stock-based pay. Stock pay equals 16.2% of revenue, against a median of 4.4% for life sciences tools & services companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 4.3% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 63% and a beta of 1.6 against the S&P 500.
  • Heavily shorted. 12.8% of the shares available to trade are sold short (6.8 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 11, 2026
Earnings per share
-$0.06 against an average estimate of -$0.14: beat by 54.1%
Revenue
$16m, up 23.3% on a year earlier
Share reaction
+13.9% in the first session after the results on August 11, 2026, against -0.1% for the S&P 500
Guidance given
full year revenue guidance range $68m to $70m (full year 2026)
Next report
November 10, 2026; average EPS estimate -$0.10

908 Devices' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-9.2%
  • 1 week-12.4%
  • 1 month-19.5%
  • This year+94.5%
  • 1 year+27.9%
  • 5 years-69.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$60.8M
Operating margin
-64.0%
Net margin
-57.0%
EPS (TTM, diluted)
$-0.94

Growth

Revenue growth
+13.4%
Change in growth rate
+2.4 pts
Share count change
+4.3%

Cash

Free cash flow (TTM)
$615,000
FCF margin
1.0%
Stock pay % of revenue
16.2%

Earnings

Last results
August 11, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Insider trade
  3. Guidance
  4. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

908 Devices Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value 908 Devices Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.09 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$2.2 ~$1.8–$2.7 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$6.4 ~$5.2–$15 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$4.7 ~$4.2–$5.3 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$3.5 ~$2.2–$6.4 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare 908 Devices Inc. with Life Sciences Tools & Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025Now
Share price$56.95$25.87$7.62$11.22$2.20$5.25$10.21
Market value$1.6bn$723m$240m$362m$75m$188m$375m
+ Net debt (− = net cash)−$144m−$209m−$173m−$121m−$44m−$71m−$63m
Enterprise value$1.4bn$514m$67m$241m$31m$118m$312m
Multiples
Price / sales 58.1x17.1x5.1x7.2x1.6x3.4x6.2x
Price / earnings —————9.7x—
Price / free cash flow n/m—————n/m
EV / EBITDA ———————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

24 /100

Weak moat

How hard 908 Devices's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -6.7% of total assets over 5 years.

  • Pricing power 18 / 20

    Gross margin has been a median 52.6%, moving by 2.0 percentage points (standard deviation) across 6 years.

  • Durability 10 / 20

    Operating margin has been a median -72.8%; its worst year was -125.6%.

  • Cash conversion 2 / 20

    Free cash flow was positive in 1 of 6 years, at a median -52.2% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 122.7% over five years; stock-based pay has been a median 17.0% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (29 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 10, 2026, before the open. Analysts expect revenue of $18m and EPS of −$0.10 (range −$0.12 to −$0.07) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.48 −128% $69m +23%
Next −$0.31 +36% $83m +19%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +32.1% on 90 days ago. In the last 30 days, 1 analyst raised 908 Devices Inc.'s forecast and 0 cut it.

Consensus EPS forecast 908 Devices Inc., last 90 days
−$0.60 −$0.40 −$0.20 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.36 Current fiscal year, 60 days ago: −$0.33 Current fiscal year, 30 days ago: −$0.33 Current fiscal year, 7 days ago: −$0.33 Current fiscal year, Now: −$0.48 −$0.48 Next fiscal year, 90 days ago: −$0.29 Next fiscal year, 60 days ago: −$0.30 Next fiscal year, 30 days ago: −$0.30 Next fiscal year, 7 days ago: −$0.30 Next fiscal year, Now: −$0.31 −$0.31

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.36−$0.29
60 days ago −$0.33−$0.30
30 days ago −$0.33−$0.30
7 days ago −$0.33−$0.30
Now −$0.48−$0.31

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.14 −$0.06 +54.1%
Mar 2026 −$0.14 −$0.07 +46.9%
Dec 2025 −$0.06 $0.02 +142.0%
Sept 2025 −$0.12 −$0.04 +61.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 11, 2026
  • full year revenue guidance range full year 2026 $68m to $70m Raised
    “908 Devices updates its full year revenue guidance range to $68.0 million to $70.0 million (from $67.0 million to $70.0 million previously), raising the low end of the range and representing 21% to 25% growth compared to 2025 revenue.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

6 analysts, Oct 2026
Buy6100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202666
  2. Sep 202666
  3. Aug 202655
  4. Jul 202655

Counts of recommendations published by analysts covering 908 Devices Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
12.8%
of tradable shares
Days to cover
6.78
at average volume
Short interest, 1 month
−1%
to October 15, 2026
Held by institutions
85%
of shares
Held by insiders
7.4%
of shares
Employees
172
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +27.9%

$7.98 on October 31, 2025 to $10.21

ThenNowEffect
Revenue (last 12 months) $54m $61m +13.4%
P/S multiple 5.2x 6.2x +17.7%
Share count 35m 37m −4.1%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +55.2%

$6.58 on November 3, 2023 to $10.21

ThenNowEffect
Revenue (last 12 months) $49m $61m +24.1%
P/S multiple 4.3x 6.2x +44.0%
Share count 32m 37m −13.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
MASS−55%−71%+47%−80%+139%+95%
Industry peers (median)+5%−51%−3%−13%−7%+15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MASS33%33%50%33%50%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MASS−69%−73%−54%−83%−43%−22%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since December 18, 2020: 98% from February 16, 2021 to December 18, 2024. Getting back needed a 3889% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$5.09 – $12.87
From 52-week high
−20.7%
vs 50-day average
−8.9%
vs 200-day average
+21.7%
Volatility (1 year)
63%
Beta vs S&P 500
1.63

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±17.6%
After a week
4 up, 8 down
typical move ±17.6%
After a month
6 up, 6 down
typical move ±23.4%
Results releasedNext dayS&P 500 next day5 days21 days
August 11, 2026 +13.9% −0.1% +14.5% +6.2%
May 6, 2026 +14.0% +1.1% +6.3% +11.8%
March 3, 2026 +2.0% −0.2% −5.3% −6.1%
January 20, 2026 +23.0% −0.9% +24.9% +27.8%
November 10, 2025 −20.1% +1.8% −27.1% −10.8%
August 5, 2025 +0.2% +0.3% −0.8% −15.6%
May 13, 2025 −24.6% +0.8% −13.8% +25.5%
March 4, 2025 +70.2% −0.1% +74.7% +97.0%
November 12, 2024 −35.4% −0.3% −31.5% −41.4%
August 6, 2024 −5.0% +0.2% −8.2% −21.6%
April 30, 2024 −1.3% −1.9% −1.0% +7.0%
March 5, 2024 −1.1% −0.5% −2.9% −10.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

908 Devices Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) 908 Devices Inc.
$45M $50M $55M $60M $65M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $47.5M Revenue (TTM), FY23 Q4: $50.2M Revenue (TTM), FY24 Q1: $48.2M Revenue (TTM), FY24 Q2: $47.5M Revenue (TTM), FY24 Q3: $47.8M Revenue (TTM), FY24 Q4: $47.7M Revenue (TTM), FY25 Q1: $52.1M Revenue (TTM), FY25 Q2: $53.7M Revenue (TTM), FY25 Q3: $53.2M Revenue (TTM), FY25 Q4: $56.2M Revenue (TTM), FY26 Q1: $57.8M Revenue (TTM), FY26 Q2: $60.8M $60.8M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $47.5M
FY23 Q4 $50.2M
FY24 Q1 $48.2M
FY24 Q2 $47.5M
FY24 Q3 $47.8M
FY24 Q4 $47.7M
FY25 Q1 $52.1M
FY25 Q2 $53.7M
FY25 Q3 $53.2M
FY25 Q4 $56.2M
FY26 Q1 $57.8M
FY26 Q2 $60.8M
Revenue growth, TTM YoY 908 Devices Inc.
-10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -6.9% Revenue growth, TTM YoY, FY23 Q4: 7.2% Revenue growth, TTM YoY, FY24 Q1: 0.3% Revenue growth, TTM YoY, FY24 Q2: -3.0% Revenue growth, TTM YoY, FY24 Q3: 0.5% Revenue growth, TTM YoY, FY24 Q4: -4.9% Revenue growth, TTM YoY, FY25 Q1: 8.2% Revenue growth, TTM YoY, FY25 Q2: 12.9% Revenue growth, TTM YoY, FY25 Q3: 11.3% Revenue growth, TTM YoY, FY25 Q4: 17.7% Revenue growth, TTM YoY, FY26 Q1: 10.9% Revenue growth, TTM YoY, FY26 Q2: 13.4% 13.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -6.9%
FY23 Q4 7.2%
FY24 Q1 0.3%
FY24 Q2 -3.0%
FY24 Q3 0.5%
FY24 Q4 -4.9%
FY25 Q1 8.2%
FY25 Q2 12.9%
FY25 Q3 11.3%
FY25 Q4 17.7%
FY26 Q1 10.9%
FY26 Q2 13.4%
Operating margin (TTM) 908 Devices Inc.
-150% -100% -50% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -91.3% Operating margin (TTM), FY23 Q4: -85.1% Operating margin (TTM), FY24 Q1: -77.6% Operating margin (TTM), FY24 Q2: -73.5% Operating margin (TTM), FY24 Q3: -105.5% Operating margin (TTM), FY24 Q4: -120.2% Operating margin (TTM), FY25 Q1: -116.7% Operating margin (TTM), FY25 Q2: -125.6% Operating margin (TTM), FY25 Q3: -111.5% Operating margin (TTM), FY25 Q4: -70.1% Operating margin (TTM), FY26 Q1: -71.4% Operating margin (TTM), FY26 Q2: -64.0% -64.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -91.3%
FY23 Q4 -85.1%
FY24 Q1 -77.6%
FY24 Q2 -73.5%
FY24 Q3 -105.5%
FY24 Q4 -120.2%
FY25 Q1 -116.7%
FY25 Q2 -125.6%
FY25 Q3 -111.5%
FY25 Q4 -70.1%
FY26 Q1 -71.4%
FY26 Q2 -64.0%
FCF margin (TTM) 908 Devices Inc.
-80% -60% -40% -20% 0% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -64.3% FCF margin (TTM), FY23 Q4: -54.0% FCF margin (TTM), FY24 Q1: -53.0% FCF margin (TTM), FY24 Q2: -62.5% FCF margin (TTM), FY24 Q3: -64.2% FCF margin (TTM), FY24 Q4: -64.6% FCF margin (TTM), FY25 Q1: -68.6% FCF margin (TTM), FY25 Q2: -54.6% FCF margin (TTM), FY25 Q3: -53.4% FCF margin (TTM), FY25 Q4: -43.9% FCF margin (TTM), FY26 Q1: -14.4% FCF margin (TTM), FY26 Q2: 1.0% 1.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -64.3%
FY23 Q4 -54.0%
FY24 Q1 -53.0%
FY24 Q2 -62.5%
FY24 Q3 -64.2%
FY24 Q4 -64.6%
FY25 Q1 -68.6%
FY25 Q2 -54.6%
FY25 Q3 -53.4%
FY25 Q4 -43.9%
FY26 Q1 -14.4%
FY26 Q2 1.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 27 42 47 50 48 56 61
Gross profit 15 23 26 25 25 28 32
EBITDA −5 −21 −34 −40 −53 −35 −35
Operating income −6 −22 −35 −43 −57 −39 −39
Net income −13 −22 −34 −36 −72 19 −35
Diluted EPS −$0.47 −$0.79 −$1.07 −$1.13 −$2.12 $0.54 −$0.94
Growth (year on year)
Revenue — +56.9% +11.0% +7.2% −4.9% +17.7% +13.4%
Margins
Gross margin 55.5% 55.0% 55.5% 50.4% 51.3% 50.6% 52.2%
EBITDA margin −18.5% −50.1% −72.1% −80.4% −110.4% −62.2% −57.4%
Operating margin −21.6% −52.3% −75.5% −85.1% −120.2% −70.1% −64.0%
Net margin −47.7% −52.5% −71.6% −72.5% −151.2% 34.7% −57.0%
Free-cash-flow margin 15.3% −70.7% −49.0% −54.0% −64.6% −43.9% 1.0%
Cash flow
Cash from operations 4 −29 −21 −25 −30 −24 1
Capital spending 0 1 2 2 1 1 1
Free cash flow 4 −30 −23 −27 −31 −25 1
Stock-based pay 1 3 7 10 12 10 10
Free cash flow after stock pay 4 −32 −30 −37 −43 −34 −9
Balance sheet
Cash 159 224 188 121 44 71 63
Total debt 15 15 15 — 0 0 0
Net debt (negative = net cash) −144 −209 −173 −121 −44 −71 −63
Diluted shares 27m 28m 31m 32m 34m 36m 37m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $198m
Short-term assets $132mLonger-term assets $66m
What it owes, and who funded it · $198m
Short-term liabilities $49mLonger-term liabilities $21mShareholders' equity $127m
  • Short-term assets cover short-term liabilities $132m of assets due within a year against $49m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $132m short-term assets against $21m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From 908 Devices Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+4.3%
year over year
R&D spending
23.7%
of revenue
Sales & admin spending
64.1%
of revenue
Days sales outstanding
70 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in life sciences tools & services
Last 12 months unless stated MASS PRPO CSBR PSNL XGN BNR Median
Revenue, last 12 months $61m $61m $61m $70m $71m $75m $229m
Revenue growth, last 12 months 13.4% 29.5% 6.7% −13.3% 20.8% 4.7% 6.9%
Revenue growth, 3-year average 7.5% 43.6% 4.8% 1.2% 10.3% — 2.9%
Revenue growth, latest quarter 23.3% 21.9% 8.8% 30.0% 15.9% — 8.5%
Gross margin 52.2% 19.7% 49.8% 12.7% 58.6% 74.7% 51.9%
Operating margin −64.0% −2.5% −1.7% −164.1% −18.6% −10.2% −14.3%
Operating margin, 3-year average −87.7% −12.0% −1.2% −122.3% −23.4% — −22.4%
Net margin −57.0% −2.0% −1.8% −153.8% −26.6% −10.3% −16.1%
Cash from operations / revenue 2.5% 1.8% −9.2% −132.5% −9.1% −5.3% 1.3%
Free-cash-flow margin 1.0% 1.3% −10.1% −144.9% −10.7% −6.2% −2.2%
Free-cash-flow margin, 3-year average −38.7% −12.5% −0.4% −96.1% −16.3% — 0.6%
Stock pay / revenue 16.2% 3.4% 3.0% 15.7% 4.1% 2.6% 4.4%
Change in share count 4.3% 13.3% −2.4% 26.0% 23.9% −100.0% 1.0%

Median of all 54 companies we cover in life sciences tools & services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

54 life sciences tools & services companies
Measure Company Peer median Rank
Revenue growth Growth 13.4% 6.9% 17 of 54
Change in growth rate Growth +2.4pp +0.4pp 16 of 54
Gross margin Profitability 52.2% 52.0% 22 of 45
Operating margin Profitability -64.0% -14.3% 38 of 52
Net margin Profitability -57.0% -12.2% 40 of 54
Free-cash-flow margin Cash generation 1.0% -1.3% 25 of 54
Stock pay as % of revenue Cash generation 16.2% 4.4% 46 of 53
Change in share count Balance sheet 4.3% 1.0% 35 of 46
Days sales outstanding Balance sheet 70 days 62 days 33 of 48

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Products $43.3M ▲ 21.8%
Device Sales $36.7M ▲ 15.7%
Recurring $19.4M ▲ 21.9%
Services $12.9M ▲ 5.7%
Contract $117,000 ▼ 11.4%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
United States $41.2M 73.4% ▲ 15.7%
EMEA $10.4M 18.6% ▲ 14.2%
Asia Pacific $3M 5.3% ▲ 42.5%
Americas Other $1.5M 2.7% ▲ 76.7%

From 908 Devices Inc.'s 10-K filed March 9, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$251M
Institutions reporting
110
Shares held vs prior quarter
▲ 3.8%
Positions opened / closed
14 / 11

Top buyers and sellers, Q2 2026: 56 institutions bought and 46 sold ; the biggest buyer was First Eagle Investment Management, LLC (+1.1M shares) and the biggest seller Tao Capital Management LP (−569K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
First Light Asset Management, LLC $54.7M 6.3M 21.8% ▲ 3.5%
Awm Investment Company, Inc. $42.5M 4.9M 16.9% ▼ 6.2%
ARK Investment Management LLC $17.6M 2.0M 7.0% ▲ 4.2%
Blackrock, Inc. $16.9M 1.9M 6.7% ▲ 10.0%
First Eagle Investment Management, LLC $16.2M 1.9M 6.5% ▲ 131.5%
Needham Investment Management LLC $15.8M 1.8M 6.3% ▲ 46.8%
Vanguard Capital Management LLC $11.2M 1.3M 4.5% ▲ 15.4%
Geode Capital Management, LLC $6.6M 762K 2.6% ▲ 9.5%
Granahan Investment Management, LLC $6M 692K 2.4% ▼ 0.4%
State Street Corp $5.3M 607K 2.1% ▼ 3.1%
Essex Investment Management Co LLC $4.1M 470K 1.6% ▼ 4.3%
Morgan Stanley $3.5M 404K 1.4% ▲ 8.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not 908 Devices Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $10M 59 trades by 6 insiders · 53% under pre-set plans
Net ▼ $10M net selling
Insider Date Trade Shares Price Value
Brown Christopher D. Director October 7, 2026 Sell pre-set plan 30,000 $11.89 $356,700
Griffith Joseph H. Iv Chief Financial Officer October 6, 2026 Sell pre-set plan 5,000 $13.03 $65,150
Awm Investment Company, Inc. 10% owner September 29, 2026 Sell 18,000 $11.52 $207,322
Awm Investment Company, Inc. 10% owner September 24, 2026 Sell 24,000 $11.36 $272,640
Awm Investment Company, Inc. 10% owner September 23, 2026 Sell 1,000 $11.25 $11,250
Kenneweg John SVP, Sales & Product Marketing September 17, 2026 Sell pre-set plan 5,257 $10.22 $53,727
Kenneweg John SVP, Sales & Product Marketing September 16, 2026 Sell pre-set plan 21,399 $10.11 $216,344
Kenneweg John SVP, Sales & Product Marketing September 15, 2026 Sell pre-set plan 1,000 $10.00 $10,000
Brown Christopher D. Director September 2, 2026 Sell pre-set plan 30,000 $10.58 $317,400
Griffith Joseph H. Iv Chief Financial Officer August 25, 2026 Sell pre-set plan 11,459 $10.95 $125,476
Awm Investment Company, Inc. 10% owner August 21, 2026 Sell 41,578 $10.61 $441,143
Awm Investment Company, Inc. 10% owner August 20, 2026 Sell 8,422 $10.52 $88,599

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 28, 2026 estimated from the company's past filing pattern, not announced

  • August 11, 2026
  • May 6, 2026
  • March 3, 2026
  • January 20, 2026
  • November 10, 2025
  • August 5, 2025

Recent SEC filings

Data status

When each part of this page on 908 Devices Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

908 Devices Inc. in brief

What does 908 Devices Inc. do?
908 Devices Inc. is a US-listed company in the life sciences tools & services industry. Its financial year ends in December.
What is 908 Devices Inc.'s stock ticker?
908 Devices Inc. trades under the ticker MASS on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is 908 Devices Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, 908 Devices Inc. reported revenue of $60.8M, 13.4% higher than a year earlier, according to its SEC filings.
What is 908 Devices Inc.'s free cash flow?
908 Devices Inc.'s free-cash-flow margin is 1.0% of revenue over the trailing twelve months, ranking 25 of the 54 life sciences tools & services companies we cover.
Who are 908 Devices Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are First Light Asset Management, LLC, Awm Investment Company, Inc. and ARK Investment Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is 908 Devices Inc.'s market cap?
On November 2, 2026, 908 Devices Inc.'s market capitalisation was about $375M and net debt of -$63M. Market figures come from third-party market data and may be delayed.
Who are 908 Devices Inc.'s competitors?
In our Life Sciences Tools & Services peer group, the companies closest to 908 Devices Inc. are Precipio, Inc., Champions Oncology, Inc., Personalis, Inc., Exagen Inc. and Burning Rock Biotech Ltd. The side-by-side comparison below sets their revenue, margins and growth against 908 Devices Inc.'s.
Are insiders buying or selling 908 Devices Inc. stock?
Over the last 12 months, 908 Devices Inc.'s directors and officers reported 0 open-market purchases and 59 sales on Form 4. The insider trading page charts every trade.
When is 908 Devices Inc.'s next earnings date?
Around November 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — 908 Devices Inc. announces its own schedule.