Vancouver, British Columbia--(Newsfile Corp. - April 24, 2025) - Masivo Silver Corp. (TSXV: MASS) (OTC Pink: GNYPF) ("Masivo" or the "Company") is pleased to announce the completion of its strategic drill target program design at the Cerro Colorado property, located in Sonora, Mexico. An eight-hole, 1,300-meter drill program was designed by Senior Mexican Geologist Jorge Rafael Gallardo, with guidance from P.Geo Brian Brewer and P.Geo Mark Bailey. CEO David Coburn commented: "We're thrilled to launch our hi ...

Vancouver, British Columbia--(Newsfile Corp. - April 3, 2025) - Masivo Silver Corp. (TSXV: MASS) (OTC Pink: GNYPF) ("Masivo" or the "Company") is pleased to announce that on April 1, 2025 it completed the signing of an arms-length agreement to acquire the Cerro Colorado Gold, Copper and Silver project in the state of Sonora, Mexico with Jorge Rafael Gallardo Romero, Minera GoldZone S.A. de C.V. and partners. This project is located 28 kilometres from the city of Alamos, Sonora and 11 kilometres north of th ...

Financial Performance - The company generated revenue of $59.6 million and $50.2 million for the years ended December 31, 2024 and 2023, respectively, reflecting a year-over-year increase of 27.7%[393] - The company incurred net losses of $72.2 million and $36.4 million for the years ended December 31, 2024 and 2023, respectively, with an accumulated deficit of $242.8 million as of December 31, 2024[395] - Total revenue for the year ended December 31, 2024, was $59.6 million, a $9.4 million increase from $50.2 million in 2023[443] - The net loss for 2024 was $72,206,000, compared to a net loss of $36,399,000 in 2023, indicating a worsening financial position[524] - Cash and cash equivalents decreased to $44,032,000 in 2024 from $121,041,000 in 2023, a decline of 63.6%[522] - The company experienced a net decrease in cash, cash equivalents, and restricted cash of $77.0 million in 2024, compared to a decrease of $67.4 million in 2023[473] Revenue Composition - Recurring revenue accounted for 39% of total revenue in 2024, up from 33% in 2023, indicating a growing reliance on consumables and services[414] - Product revenue increased by $3.7 million, or 9%, to $43.9 million for the year ended December 31, 2024, compared to $40.2 million in 2023[444] - Service and contract revenue increased significantly by 56.5% to $15,709,000 from $10,015,000[524] - Device sales revenue increased to $35,991,000 in 2024 from $33,379,000 in 2023, a growth of 4.8%[586] - The total handheld revenue for 2024 was $46,238,000, up from $38,240,000 in 2023, representing a growth of 20.5%[586] Expenses and Costs - Selling, general and administrative expenses rose by $7.6 million, or 16%, to $53.6 million in 2024 compared to $46.1 million in 2023[443] - Research and development expenses increased by $3.6 million, or 16%, to $25.5 million in 2024 from $21.9 million in 2023[443] - Total operating expenses surged to $106,574,000, a 56.5% increase from $68,080,000 in 2023, primarily due to higher research and development costs[524] Acquisitions and Restructuring - The company completed an acquisition of RedWave for $45.0 million in cash and 1,497,171 shares of common stock, enhancing its portfolio of handheld chemical analysis devices[392] - An organizational restructuring was announced in November 2024, resulting in an approximately 11% workforce reduction to improve operational efficiencies[397] - The company acquired RedWave Technology for $44.8 million in April 2024, enhancing its portfolio of handheld chemical analysis devices[536] Cash Flow and Financing - Net cash used in operating activities for the year ended December 31, 2024, was $30.2 million, an increase from $25.1 million in 2023, primarily due to a net loss of $72.2 million[474][475] - Cash used in investing activities increased significantly to $46.3 million in 2024 from $26.4 million in 2023, largely due to the acquisition of RedWave for $44.8 million[476][477] - Cash used in financing activities decreased to $0.4 million in 2024 from $15.9 million in 2023, primarily due to a payment for contingent consideration related to the acquisition of Trace Analytics GmbH[478][479] Goodwill and Impairment - A goodwill impairment of $40.7 million was recorded for the year ended December 31, 2024, representing 68% of total revenue[454] - The company recorded a goodwill impairment of $40,659,000 in 2024, reflecting significant changes in asset valuation[524] Market and Economic Factors - The company is closely monitoring macroeconomic factors, including inflation and interest rates, which may impact customer spending and purchasing patterns[401] - The company expects to transition manufacturing operations from Massachusetts to North Carolina and Connecticut throughout 2025, with associated costs anticipated[399] Customer and Revenue Concentration - One customer accounted for 15% of gross accounts receivable as of December 31, 2024, highlighting a concentration risk[545] - Government sector revenue accounted for $46,161,000 in 2024, an increase of 20.5% from $38,232,000 in 2023[586] Future Outlook - The company expects gross profit margins to increase over the long term as sales and production volumes rise and costs per unit decrease[431] - The company anticipates that its cash and marketable securities will be sufficient to fund operations for at least the next 12 months[539] - The company expects to continue generating operating losses in the foreseeable future, indicating ongoing financial challenges[539]

Core Viewpoint - The article discusses the significant decline in stock prices of small-cap biopharma companies over the past couple of years, highlighting the case of 908 Devices (NASDAQ: MASS) as a notable example that was once favored by high-profile ETFs [1]. Group 1: Company Analysis - 908 Devices (NASDAQ: MASS) is identified as a small-cap biopharma company that has experienced a substantial drop in its stock price [1]. - The company was previously a favorite among high-profile ETFs, indicating its prior popularity and potential investor interest [1]. Group 2: Market Context - The article reflects on the broader trend affecting small-cap biopharma companies, suggesting a challenging market environment that has led to stock price declines [1].

908 Devices Inc. (MASS) came out with a quarterly loss of $0.32 per share versus the Zacks Consensus Estimate of a loss of $0.35. This compares to loss of $0.23 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.57%. A quarter ago, it was expected that this company would post a loss of $0.29 per share when it actually produced a loss of $0.23, delivering a surprise of 20.69%.Over the last four quarters, the company has surpasse ...

Revenue Performance - Fourth quarter 2024 revenue was $18.8 million, a 31% increase compared to the fourth quarter of 2023[7] - Full year 2024 revenue reached $59.6 million, reflecting a 19% increase year over year[12] - Handheld revenue for 2024 was $46.1 million, up 22% year over year, while desktop revenue was $13.2 million, increasing 10% year over year[7] - Recurring revenue for 2024 was $23.3 million, a 42% increase year over year, representing 39% of total revenue[7] - The company expects 2025 revenue from continuing operations to be between $53 million and $55 million, indicating 11% to 15% growth compared to 2024[17] Profitability and Margins - Adjusted gross margin for the full year 2024 was 55%, an increase of approximately 250 basis points year over year[7] - Gross profit for the year ended December 31, 2024, was $29,856 million, up from $25,322 million in 2023, representing a growth of 20.0%[28] - Adjusted gross profit increased from $26,327 million in 2023 to $32,799 million in 2024, reflecting a rise of 24.8%[28] - Gross margin percentage (GAAP) for 2024 was 50%, consistent with 2023, while adjusted gross margin percentage improved from 52% in 2023 to 55% in 2024[28] - Adjusted EBITDA for the year ended December 31, 2024, was $(29,622) million, slightly improved from $(29,953) million in 2023[29] Expenses and Losses - Operating expenses for 2024 were $106.6 million, up from $68.1 million in the prior year, largely due to a $40.7 million non-cash charge for goodwill impairment[14] - Net loss for 2024 was $72.2 million, compared to a net loss of $36.4 million in 2023, primarily driven by the goodwill impairment charge[15] - Net loss for the year ended December 31, 2024, was $72,206 million, compared to a net loss of $36,399 million in 2023, indicating a worsening of 98.5%[29] Balance Sheet and Assets - Total assets decreased from $202,981 million in 2023 to $159,476 million in 2024, a decline of approximately 21.4%[26] - Cash, cash equivalents, and marketable securities dropped significantly from $145,682 million in 2023 to $69,600 million in 2024, a decrease of about 52.3%[26] - Total current liabilities increased from $22,549 million in 2023 to $25,149 million in 2024, an increase of 11.5%[26] - Intangible assets rose significantly from $7,860 million in 2023 to $45,261 million in 2024, an increase of 475.5%[26] - Total stockholders' equity decreased from $165,491 million in 2023 to $114,592 million in 2024, a decline of approximately 30.7%[26] Future Outlook - The divestiture of the desktop portfolio to Repligen for $70 million is expected to strengthen the company's balance sheet and focus on handheld markets[6] - The company anticipates achieving Adjusted EBITDA positivity by Q4 2025 and cash flow positivity in 2026[6]

WALTHAM, Mass. and BOSTON, March 04, 2025 (GLOBE NEWSWIRE) -- Repligen Corporation (NASDAQ:RGEN), a life sciences company focused on bioprocessing technology leadership, and 908 Devices Inc. (NASDAQ:MASS), a pioneer in purpose-built handheld and desktop devices for chemical analysis, announce that Repligen has purchased 908 Devices' desktop portfolio of four devices for bioprocessing process analytical technology (PAT) applications. 908 Devices remains focused on the growth of its newly expanded handheld de ...

Core Viewpoint - Masivo Silver Corp. has signed a non-binding Letter of Intent (LOI) to acquire a Gold, Silver, and Copper project in Sonora, Mexico, with the LOI expected to become binding within 2 to 3 weeks upon completion of due diligence [1] Group 1: Project Details - The Cerro Colorado Sonora project includes two mineral concessions: El Tacon Dos (Cerro Colorado) with 774 hectares and Valle del Cobre with 1875 hectares [2] - Historical sampling from a collapsed tunnel returned significant grades of 2200 g/t Ag and 4.57 g/t Au, indicating high mineralization potential [3] - A selective sample from another collapsed tunnel returned values of 1840 g/t Ag, 4.8 g/t Au, 3.06% Cu, 4.5% Pb, and 2.92% Zn, although it may not represent underlying mineralization [4] Group 2: Exploration and Sampling - Surface sampling in the alteration zone yielded values between 12 to 561 g/t Ag, along with anomalous values of Gold and Copper, aligning with the Piedras Verdes mining project [6] - A trench sample returned 7.2 meters true-wide with 0.75 g/t Au, 159 g/t Ag, 0.24% Cu, 0.52% Pb, and 0.29% Zn, confirming geochemical signatures of polymetallic mineralization [5] Group 3: Expert Insights - Senior Geologist Rafael Gallardo expressed optimism about the project, noting it has never been drill-tested at depth and hopes to find similar polymetallic values at depth where a high chargeability anomaly was detected [7] - The Masivo technical team is collaborating with Gallardo on the Cerro Colorado drill program, which is expected to complement the Boston Mine project in Nevada [8] Group 4: Drilling Plans - A series of 8 drill holes are being modeled for the project, utilizing a $75,000 drill credit with a Mexican drilling company [9]

Core Viewpoint - Masivo Silver Corp. has signed a Letter of Intent (LOI) to acquire a gold, silver, and copper project located in Sonora, Mexico, which is strategically positioned near significant mining operations [1]. Project Details - The Cerro Colorado project consists of two mineral concessions: El Tacon Dos covering 774 hectares (1911 acres) and Valle del Cobre covering 1875 hectares (4631 acres) [2]. - A comprehensive exploration program has been conducted, including mapping, sampling, soil geochemistry, and geophysics over an area of 1200 meters long by 200 meters wide, revealing strong brecciation and phyllic alteration [2]. Historical Sampling Results - Historical samples from a mineralized zone in an old collapsed tunnel returned impressive grades of 2200 g/t Ag and 4.57 g/t Au [3]. - Additional selective samples from old dumps in the same concession yielded values of 1840 g/t Ag, 4.8 g/t Au, 3.06% Cu, 4.5% Pb, and 2.92% Zn [3]. Surface Sampling Insights - Surface sampling in a hand-made trench returned significant anomalies, including 0.75 g/t Au, 159 g/t Ag, 0.24% Cu, 0.52% Pb, and 0.29% Zn over a true width of 7.2 meters [4]. - The alteration zone on the surface is heavily leached, with sampling results showing silver values ranging from 12 to 561 g/t, alongside very anomalous gold and copper values [5]. Expert Commentary - Senior Geologist Rafael Gallardo expressed high confidence in the project, noting it as one of the best he has encountered in his 40 years of experience in Mexico, and is optimistic about drilling to find similar polymetallic values at depth [6]. - The Masivo technical team, led by Mark Bailey and Brian Brewer, is collaborating with Gallardo for the drill program, which is expected to complement the Boston Mine project in Nevada [7]. Drilling Plans - A series of eight drill holes are being modeled by Gallardo, with Masivo utilizing a $75,000 drill credit with a Mexican drilling company for the upcoming program [8].

Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $16.8 million, a 17% increase from $14.3 million in the prior year period, but below expectations [7][27] - Adjusted gross profit was $9.3 million for Q3 2024, compared to $8.1 million for the prior year period, with adjusted gross margin at 55% [31][36] - Net loss for Q3 2024 was $29.3 million, compared to $7.1 million in the prior year period [35] Business Line Data and Key Metrics Changes - Handheld revenues for the forensics market were $14 million in Q3 2024, up 19% from $11.7 million in Q3 2023, driven by FTIR products and increased service revenue [27] - Revenue from desktop products serving life science and bioprocessing markets was $2.8 million, an 8% increase from $2.5 million in the prior year [29] - Recurring revenue represented 36% of total revenues, amounting to $6.1 million, a 70% increase year-over-year [30] Market Data and Key Metrics Changes - The company is experiencing softness in the bioprocessing and life science instrumentation market, elongating the sales cycle for desktop devices [8] - The desktop market is expected to see a decline in year-over-year revenue in the low teens for Q4 2024, contrasting with earlier growth expectations [40] Company Strategy and Development Direction - The company plans to move manufacturing to lower-cost locations, expecting approximately $2.4 million in annual savings starting in 2026 [12][13] - A workforce reduction of 11% was implemented to enhance agility and capitalize on market opportunities [14] - The company is focusing on five key growth drivers, including increasing enterprise adoption of FTIR handhelds and creating an upgrade cycle with the next generation of MX908 handhelds [17][19] Management Comments on Operating Environment and Future Outlook - Management acknowledged that the financial results fell short of expectations due to delays in federal budget approvals and compressed spending periods [7][8] - The company remains optimistic about future growth, citing strong initial pipeline development for enterprise accounts and anticipated improvements in desktop demand [24][40] Other Important Information - The company has identified a need for strategic partnerships to enhance market reach and scale for desktop devices [23] - The integration of RedWave Technology is expected to create operational efficiencies and expand gross margins [10][36] Q&A Session Summary Question: Concerns about structural or competitive issues in the handheld market - Management indicated that the challenges are primarily due to budget timing and political uncertainty, not structural competition [48][49] Question: Recovery expectations for the desktop market in H1 2025 - Management expects sequential improvement in desktop placements driven by partnership initiatives, but not at the same level as Q4 [50][51] Question: Workforce reductions and organizational size - Management believes the organization is right-sized for current conditions and is equipped to capitalize on future growth opportunities [52][56] Question: Impact of new administration on spending priorities - Management anticipates potential positive impacts on defense spending and contracting processes, but the direct correlation to desktop demand is unclear [60][64] Question: Changes in competitive landscape for desktops - Management has not observed significant changes in competitive dynamics, attributing challenges to macroeconomic factors rather than competition [70][71]