MASS · 908 Devices Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.38M | - | $14.01M | $13.04M | $11.78M | - | $16.77M | $14.05M | $9.99M | - |
| Cost of Revenue | $6.50M | - | $6.65M | $6.66M | $6.24M | - | $8.44M | $6.63M | $4.99M | - |
| Gross Profit | $6.88M | - | $7.36M | $6.37M | $5.54M | - | $8.33M | $7.42M | $5.00M | - |
| R&D | $3.47M | - | $3.84M | $4.41M | $3.83M | - | $6.79M | $6.38M | $5.79M | - |
| SG&A | $9.91M | - | $9.13M | $10.34M | $10.24M | - | $13.38M | $14.60M | $11.90M | - |
| Total Operating Expenses | $19.77M | - | $23.68M | $21.53M | $16.57M | - | $38.55M | $20.98M | $17.69M | - |
| D&A | $1.14M | - | $300.0K | - | $1.29M | - | - | - | $1.33M | - |
| Operating Income | ($12.88M) | - | ($16.32M) | ($15.16M) | ($11.03M) | - | ($30.22M) | ($13.56M) | ($12.69M) | - |
| Interest Expense | - | - | - | - | - | - | ($350.0K) | - | - | - |
| Income Tax | - | - | $29.0K | $71.0K | - | - | ($72.0K) | ($69.0K) | ($70.0K) | - |
| Net Income | ($11.96M) | - | ($14.98M) | ($13.31M) | $43.60M | - | ($29.30M) | ($12.55M) | ($10.92M) | - |
| EPS - Basic | ($0.32) | - | ($0.41) | ($0.37) | $1.23 | - | ($0.84) | ($0.37) | ($0.33) | - |
| EPS - Diluted | ($0.32) | - | ($0.41) | ($0.37) | $1.23 | - | ($0.84) | ($0.37) | ($0.33) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $67.56M | $70.52M | $62.80M | $61.75M | $79.16M | $44.03M | $45.02M | $46.81M | $104.60M | $121.04M |
| Accounts Receivable | $9.87M | $11.33M | $11.00M | $6.21M | $6.93M | $12.63M | $16.66M | $10.99M | $7.49M | $8.99M |
| Inventory | $13.24M | $12.99M | $15.33M | $15.46M | $12.74M | $16.17M | $17.83M | $18.59M | $16.36M | $14.94M |
| Accounts Payable | $2.42M | $1.59M | $1.81M | $3.58M | $3.85M | $2.06M | $1.90M | $1.97M | $1.47M | $1.19M |
| Current Assets | $142.01M | $144.56M | $144.94M | $147.87M | $149.00M | $103.06M | $108.93M | $110.44M | $161.87M | $173.79M |
| Total Assets | $186.69M | $190.07M | $190.87M | $191.70M | $196.03M | $159.48M | $178.28M | $208.77M | $189.79M | $202.98M |
| Current Liabilities | $39.66M | $34.06M | $41.48M | $29.71M | $19.56M | $25.15M | $25.72M | $21.72M | $19.33M | $22.55M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $52.52M | $46.37M | $54.57M | $42.88M | $36.60M | $44.88M | $47.24M | $52.41M | $32.90M | $37.49M |
| Stockholders' Equity | $134.17M | $143.70M | $136.30M | $148.82M | $159.42M | $114.59M | $131.04M | $156.36M | $156.89M | $165.49M |
| Retained Earnings | ($235.27M) | ($223.32M) | ($227.49M) | ($212.51M) | ($199.20M) | ($242.81M) | ($223.36M) | ($194.06M) | ($181.52M) | ($170.60M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.21M | - | - | - | ($15.02M) | - | - | - | ($9.36M) | - |
| Investing Cash Flow | ($1.99M) | - | - | - | $50.31M | - | - | - | ($5.78M) | - |
| Financing Cash Flow | ($2.17M) | - | - | - | ($189.0K) | - | - | - | ($1.29M) | - |
| CapEx | $40.0K | - | - | - | $159.0K | - | - | - | $903.0K | - |
| Free Cash Flow | $1.17M | - | - | - | ($15.18M) | - | - | - | ($10.26M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 51.4% | - | 52.5% | 48.9% | 47.0% | - | 49.7% | 52.8% | 50.1% | - |
| Operating margin | -96.3% | - | -116.6% | -116.3% | -93.6% | - | -180.2% | -96.5% | -127.0% | - |
| EBITDA margin | -87.8% | - | -114.4% | - | -82.7% | - | - | - | -113.7% | - |
| Net margin | -89.3% | - | -107.0% | -102.1% | 370.2% | - | -174.7% | -89.3% | -109.3% | - |
| Free cash flow margin | 8.7% | - | - | - | -128.9% | - | - | - | -102.7% | - |
| FCF / Net income | -0.10 | - | - | - | -0.35 | - | - | - | 0.94 | - |
| R&D / Revenue | 25.9% | - | 27.4% | 33.8% | 32.5% | - | 40.5% | 45.4% | 58.0% | - |
| SG&A / Revenue | 74.1% | - | 65.2% | 79.3% | 86.9% | - | 79.8% | 103.9% | 119.1% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -6.4% | - | -7.8% | -6.9% | 22.2% | - | -16.4% | -6.0% | -5.8% | - |
| Return on equity | -8.9% | - | -11.0% | -8.9% | 27.4% | - | -22.4% | -8.0% | -7.0% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 3.58 | 4.24 | 3.49 | 4.98 | 7.62 | 4.10 | 4.24 | 5.09 | 8.37 | 7.71 |
| Quick ratio | 3.25 | 3.86 | 3.12 | 4.46 | 6.97 | 3.45 | 3.54 | 4.23 | 7.53 | 7.04 |
| Cash ratio | 1.70 | 2.07 | 1.51 | 2.08 | 4.05 | 1.75 | 1.75 | 2.16 | 5.41 | 5.37 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | 86.3x | - | - | - |
| Equity multiplier | 1.39 | 1.32 | 1.40 | 1.29 | 1.23 | 1.39 | 1.36 | 1.34 | 1.21 | 1.23 |
| Liabilities / Assets | 0.28 | 0.24 | 0.29 | 0.22 | 0.19 | 0.28 | 0.26 | 0.25 | 0.17 | 0.18 |
| Efficiency | ||||||||||
| Asset turnover | 0.07 | - | 0.07 | 0.07 | 0.06 | - | 0.09 | 0.07 | 0.05 | - |
| Inventory turnover | 0.49 | - | 0.43 | 0.43 | 0.49 | - | 0.47 | 0.36 | 0.30 | - |
| Days sales outstanding | 269d | - | 287d | 174d | 215d | - | 363d | 285d | 273d | - |
| Days inventory outstanding | 744d | - | 841d | 847d | 746d | - | 771d | 1024d | 1197d | - |
| Days payable outstanding | 136d | - | 99d | 196d | 225d | - | 82d | 109d | 108d | - |
| Cash conversion cycle | 877d | - | 1028d | 824d | 735d | - | 1052d | 1200d | 1363d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | 3.6x | - | - | - | - | - |
| P / B | 1.7x | - | 2.3x | 1.7x | 1.0x | - | 0.9x | 1.1x | 1.6x | - |
| P / S | 16.8x | - | 22.6x | 19.6x | 13.5x | - | 7.2x | 12.5x | 24.7x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 13.6% | - | -16.5% | -7.2% | 17.9% | - | 17.3% | 16.1% | 5.3% | - |
| Revenue CAGR (3y) | 12.1% | - | -3.9% | 5.5% | 12.3% | - | 10.2% | 19.3% | 35.7% | - |
| Revenue CAGR (5y) | 27.3% | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 24.2% | - | -11.7% | -14.1% | 10.8% | - | 5.9% | 28.0% | 14.1% | - |
| Operating income growth (YoY) | -16.9% | - | 46.0% | -11.8% | 13.1% | - | -232.5% | -24.0% | 2.5% | - |
| Net income growth (YoY) | - | - | 48.9% | -6.0% | - | - | -313.0% | -34.3% | 12.9% | - |
| EPS growth (YoY) | - | - | 51.2% | 0.0% | - | - | -281.8% | -27.6% | 15.4% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | -47.9% | - | - | - | 13.3% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -15.8% | 25.4% | 4.0% | -4.8% | 1.6% | -30.8% | -22.9% | -10.4% | -13.1% | -13.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$56.20M totalSingle Reportable Segment$56.20M · 100.0%
Product / service
$112.39M totalProduct$43.28M · 38.5%
Device Sales$36.66M · 32.6%
Recurring$19.42M · 17.3%
Service$12.92M · 11.5%
Contract$117.0K · 0.1%
Geographic
$56.20M totalUS$41.25M · 73.4%
EMEA$10.43M · 18.6%
Asia Pacific$3.00M · 5.3%
Americas Other$1.52M · 2.7%
Peer comparison
Same SIC group: Measuring & Controlling Devices, NEC
Comparing 908 Devices Inc. against the 5 most active filers in the same SIC group.