Financial Performance - The company generated revenue of $35.2 million for the nine months ended September 30, 2022, compared to $26.4 million for the same period in 2021, representing a year-over-year increase of 33.3%[123] - The company incurred net losses of $23.8 million for the nine months ended September 30, 2022, compared to net losses of $18.7 million for the same period in 2021, indicating an increase in losses of 27.3%[123] - Total revenue for the nine months ended September 30, 2022, was $35,209 thousand, an increase of $8,844 thousand, or 33%, compared to $26,365 thousand in 2021[176] - The net loss for the three months ended September 30, 2022, was $6,259,000, compared to a net loss of $5,185,000 in the same period of 2021, reflecting a deterioration of $1,074,000[163] - Net loss for the nine months ended September 30, 2022, was $23,772 thousand, an increase of $5,068 thousand compared to a net loss of $18,704 thousand in 2021[176] Revenue Composition - Consumables and service revenue accounted for 29% of total product and service revenue for the nine months ended September 30, 2022, up from 21% for the same period in 2021[138] - Device sales revenue accounted for 71% of total product and service revenue for the nine months ended September 30, 2022, down from 79% in the same period of 2021[146] - Total product and service revenue rose by $3.2 million, or 26%, to $15,437 thousand for the three months ended September 30, 2022, compared to $12,285 thousand in 2021[165] Expenses - Research and development expenses for the three months ended September 30, 2022, increased to $4,666,000, up 41.3% from $3,302,000 in the same period of 2021[163] - Selling, general and administrative expenses rose to $11,826,000 for the three months ended September 30, 2022, a 34.6% increase from $8,786,000 in the same period of 2021[163] - Research and development expenses increased to $12.9 million for the nine months ended September 30, 2022, up 38% from $9.3 million in the same period of 2021[185] - Selling, general and administrative expenses rose to $32.3 million for the nine months ended September 30, 2022, reflecting a 38% increase from $23.3 million in 2021[187] Cash Flow and Financing - Cash used in operating activities was $15.8 million for the nine months ended September 30, 2022, compared to $19.9 million in the same period of 2021[200] - Net cash used in investing activities was $15.2 million for the nine months ended September 30, 2022, primarily due to the acquisition of Trace for $13.8 million[202] - Cash provided by financing activities was $0.8 million for the nine months ended September 30, 2022, mainly from common stock option exercises[203] - As of September 30, 2022, the company had cash and cash equivalents of $193.7 million, expected to fund operations for at least the next twelve months[190] Acquisitions and Investments - The company completed the acquisition of Trace for a total purchase price of $17.3 million, which includes an initial cash payment of $14.4 million and contingent cash consideration of up to $2.0 million[122] - The company plans to expand its commercial operations and may seek additional funding through various financing methods[197] Market and Economic Conditions - The company is closely monitoring economic uncertainty and rising inflation, which may impact customer orders and overall sales[127] - The company aims to mitigate downward pressure on average selling prices by increasing the value proposition of its devices and consumables[142] Product and Service Metrics - Total product placements for the three months ended September 30, 2022, were 175 units, a decrease of 4.9% from 184 units in the same period of 2021[144] - For the nine months ended September 30, 2022, total product placements increased to 382 units, up 8.2% from 353 units in the same period of 2021[144] - Cumulative product placements as of September 30, 2022, reached 2,317 units, a 35.1% increase from 1,714 units as of September 30, 2021[145] Accounting Policies and Estimates - There were no significant changes to critical accounting policies for the nine months ended September 30, 2022, except as discussed[214] - Recently issued accounting pronouncements that may impact financial position and results of operations are disclosed in the Quarterly Report[215] - The company qualifies as a smaller reporting company and is not required to provide certain market risk disclosures[216]

908 Devices Inc. (NASDAQ:MASS) Q2 2022 Earnings Conference Call August 9, 2022 8:30 AM ET Company Participants Kelly Gura - Investor Relations Kevin Knopp - Chief Executive Officer & Co-Founder Joe Griffith - Chief Financial Officer Conference Call Participants Dan Arias - Stifel Max Masucci - Cowen Operator Hello, thank you for standing by. And welcome to the 908 Devices' Second Quarter 2022 Financial Results Conference Call. At this time all participants are in a listen-only mode. [Operator Instructions] ...

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Condensed Consolidated Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for 908 Devices Inc., detailing financial position, performance, cash flows, and significant accounting policies [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2022, total assets decreased to **$247.0 million** from **$260.9 million** at year-end 2021, primarily due to reduced cash and cash equivalents Condensed Consolidated Balance Sheet Data (in thousands) | Account | June 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $212,994 | $224,073 | | Inventory | $11,178 | $7,918 | | Total current assets | $238,678 | $252,893 | | Total assets | $246,995 | $260,906 | | **Liabilities & Stockholders' Equity** | | | | Total current liabilities | $15,434 | $14,836 | | Long-term debt | $15,000 | $15,000 | | Total liabilities | $45,880 | $46,302 | | Accumulated deficit | $(118,151) | $(100,637) | | Total stockholders' equity | $201,115 | $214,604 | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) For the six months ended June 30, 2022, total revenue increased to **$19.4 million**, but net loss widened to **$17.5 million** due to higher operating expenses Statement of Operations Highlights (in thousands, except per share data) | Metric | Q2 2022 | Q2 2021 | Six Months 2022 | Six Months 2021 | | :--- | :--- | :--- | :--- | :--- | | Total revenue | $11,106 | $8,277 | $19,412 | $13,820 | | Gross profit | $6,634 | $4,379 | $10,763 | $7,287 | | Loss from operations | $(8,369) | $(7,455) | $(17,890) | $(13,265) | | Net loss | $(8,099) | $(7,424) | $(17,514) | $(13,519) | | Net loss per share (basic and diluted) | $(0.26) | $(0.27) | $(0.56) | $(0.49) | [Condensed Consolidated Statements of Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) Total stockholders' equity decreased to **$201.1 million** as of June 30, 2022, primarily due to a **$17.5 million** net loss Changes in Stockholders' Equity (Six Months Ended June 30, 2022, in thousands) | Description | Amount | | :--- | :--- | | Balance at December 31, 2021 | $214,604 | | Net loss | $(17,514) | | Stock-based compensation expense | $3,183 | | Issuance of common stock (options/ESPP) | $1,382 | | Balance at June 30, 2022 | $201,115 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities improved to **$10.9 million** for the six months ended June 30, 2022, with overall cash and equivalents decreasing by **$11.0 million** Cash Flow Summary (Six Months Ended June 30, in thousands) | Cash Flow Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | $(10,876) | $(16,938) | | Net cash used in investing activities | $(689) | $(625) | | Net cash provided by (used in) financing activities | $597 | $(290) | | **Net decrease in cash** | **$(10,968)** | **$(17,853)** | | Cash at end of period | $213,165 | $141,374 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) These notes detail the company's business, accounting policies, customer concentration, disaggregated revenue, and the subsequent acquisition of TRACE Analytics GmbH - One customer accounted for **19% of total revenue** and **13% of gross accounts receivable** for the six months ended June 30, 2022[35](index=35&type=chunk) Disaggregated Revenue (Six Months Ended June 30, in thousands) | Revenue Stream | 2022 | 2021 | | :--- | :--- | :--- | | **By Type** | | | | Device sales revenue | $13,287 | $10,092 | | Consumables and service revenue | $5,350 | $3,180 | | License and contract revenue | $775 | $548 | | **Total Revenue** | **$19,412** | **$13,820** | | **By Geography** | | | | Americas | $15,538 | $10,489 | | Europe, Middle East and Africa | $2,601 | $2,171 | | Asia Pacific | $1,273 | $1,160 | - The company acquired TRACE Analytics GmbH on August 3, 2022, for an initial **$15.3 million** cash payment and up to **$2.0 million** in contingent consideration[84](index=84&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, highlighting **40% revenue growth** in H1 2022, widening net losses due to strategic investments, and a sufficient liquidity position [Overview](index=26&type=section&id=Overview) The company develops and sells mass spectrometry devices, reporting **$19.4 million** in revenue and a **$17.5 million** net loss for H1 2022, with continued losses expected due to growth investments - The company manufactures purpose-built handheld (MX908) and desktop (Rebel, ZipChip) mass spectrometry devices for point-of-need analysis[89](index=89&type=chunk)[91](index=91&type=chunk) - For the six months ended June 30, 2022, the company generated **$19.4 million** in revenue and incurred a net loss of **$17.5 million**, with an accumulated deficit of **$118.2 million**[93](index=93&type=chunk) [Factors Affecting Our Performance](index=28&type=section&id=Factors%20Affecting%20Our%20Performance) Performance is driven by device sales, recurring revenue, and revenue mix, with recurring revenue representing **29%** of product and service revenue in H1 2022 - Device sales are a primary performance driver, with varying sales cycles depending on customer type, such as long cycles for government and variable cycles for pharma/biotech[100](index=100&type=chunk)[102](index=102&type=chunk)[103](index=103&type=chunk) - Recurring revenue from consumables and services, a key focus, represented **29%** of product and service revenue for the six months ended June 30, 2022, up from **24%** in the prior year[104](index=104&type=chunk) [Key Business Metrics](index=31&type=section&id=Key%20Business%20Metrics) Product placements, a key business metric, totaled **207 units** for the six months ended June 30, 2022, contributing to **2,142 cumulative placements** Product Placements (Units) | Device | Q2 2022 | Q2 2021 | Six Months 2022 | Six Months 2021 | | :--- | :--- | :--- | :--- | :--- | | MX908 | 102 | 84 | 165 | 137 | | Rebel | 14 | 12 | 29 | 21 | | ZipChip Interface | 8 | 7 | 13 | 11 | | **Total** | **124** | **103** | **207** | **169** | Cumulative Product Placements (Units) | Device | June 30, 2022 | June 30, 2021 | | :--- | :--- | :--- | | MX908 | 1,815 | 1,295 | | Rebel | 129 | 67 | | ZipChip Interface | 198 | 168 | | **Total** | **2,142** | **1,530** | [Results of Operations](index=35&type=section&id=Results%20of%20Operations) This section details financial results, showing **34% revenue growth** in Q2 2022 and **40%** for H1 2022, alongside increased operating expenses leading to wider losses Q2 2022 vs Q2 2021 Comparison (in thousands) | Metric | Q2 2022 | Q2 2021 | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | $11,106 | $8,277 | $2,829 | 34% | | Gross Profit | $6,634 | $4,379 | $2,255 | 51.5% | | Product & Service Gross Margin | 59% | 51% | 8 p.p. | - | | R&D Expenses | $4,293 | $3,055 | $1,238 | 41% | | SG&A Expenses | $10,710 | $8,779 | $1,931 | 22% | | Loss from Operations | $(8,369) | $(7,455) | $(914) | 12% | Six Months 2022 vs 2021 Comparison (in thousands) | Metric | H1 2022 | H1 2021 | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | $19,412 | $13,820 | $5,592 | 40% | | Gross Profit | $10,763 | $7,287 | $3,476 | 47.7% | | Product & Service Gross Margin | 55% | 52% | 3 p.p. | - | | R&D Expenses | $8,198 | $6,020 | $2,178 | 36% | | SG&A Expenses | $20,455 | $14,532 | $5,923 | 41% | | Loss from Operations | $(17,890) | $(13,265) | $(4,625) | 35% | [Liquidity and Capital Resources](index=42&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2022, the company held **$213.0 million** in cash, deemed sufficient for the next twelve months, with **$10.9 million** net cash used in operations for H1 2022 - The company held **$213.0 million** in cash and cash equivalents as of June 30, 2022[153](index=153&type=chunk) - Net cash used in operating activities for the six months ended June 30, 2022, was **$10.9 million**, an improvement from **$16.9 million** in the prior year[159](index=159&type=chunk)[160](index=160&type=chunk) - The company maintains a **$25.0 million** revolving line of credit, maturing in March 2024, subject to covenants including a **$10.0 million** minimum cash level[156](index=156&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=47&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, the company is not required to provide quantitative and qualitative disclosures about market risk - As a smaller reporting company, the company is not required to provide quantitative and qualitative disclosures about market risk[169](index=169&type=chunk) [Item 4. Controls and Procedures](index=47&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2022, with no material changes in internal control over financial reporting - Management concluded that the company's disclosure controls and procedures were effective at a reasonable assurance level as of the report period end[170](index=170&type=chunk) - No material changes occurred in internal control over financial reporting during the most recently completed fiscal quarter[171](index=171&type=chunk) [PART II. OTHER INFORMATION](index=48&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=48&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any material legal proceedings - The Company is not currently party to any material legal proceedings[174](index=174&type=chunk) [Item 1A. Risk Factors](index=48&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the risk factors previously disclosed in the company's 2021 Annual Report on Form 10-K - There are no material changes to the risk factors discussed in the company's 2021 Annual Report on Form 10-K[175](index=175&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=48&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered sales of equity securities and no material change in the planned use of IPO proceeds - There has been no material change in the planned use of IPO proceeds from that described in the final prospectus filed on December 18, 2020[179](index=179&type=chunk) [Item 3. Defaults Upon Senior Securities](index=48&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities - No defaults upon senior securities were reported[181](index=181&type=chunk) [Item 4. Mine Safety Disclosures](index=48&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's operations - This item is not applicable[182](index=182&type=chunk) [Item 5. Other Information](index=49&type=section&id=Item%205.%20Other%20Information) The company reports no other information for this item - No other information is reported for this item[183](index=183&type=chunk) [Item 6. Exhibits](index=50&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Quarterly Report on Form 10-Q, including CEO and CFO certifications and XBRL data - Exhibits filed include CEO and CFO certifications pursuant to Sarbanes-Oxley Act of 2002 and Inline XBRL documents[186](index=186&type=chunk)

908 Devices, Inc. (NASDAQ:MASS) Q1 2022 Earnings Conference Call May 10, 2022 8:30 AM ET Company Participants Kelly Gura - Investor Relations Kevin Knopp - Chief Executive Officer & Co-Founder Joe Griffith - Chief Financial Officer Conference Call Participants Puneet Souda - SVB Securities Dan Arias - Stifel Brian Weinstein - William Blair Operator Good morning and thank you for standing by. Welcome to the 908 Devices' First Quarter 2022 Financial Results Conference Call. At this time, all participants are ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-39815 908 DEVICES INC. Registrant's telephone number, including area code: (857) 254-1500 Securities regist ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39815 908 DEVICES INC. (Exact name of registrant as specified in its charter) | Delaware | 45-4524096 | | --- | -- ...

908 Devices Inc. (NASDAQ:MASS) Q4 2021 Earnings Conference Call March 7, 2022 4:30 PM ET Company Participants Kelly Gura - Investor Relations Kevin Knopp - Co-Founder and CEO Joe Griffith - Chief Financial Officer Conference Call Participants Dustin Scaringe - Blair Puneet Souda - SVB Leerink Dan Arias - Stifel Max Masucci - Cowen Operator Good day and thank you for standing by. Welcome to the 908 Devices Fourth Quarter 2021 Financial Results Conference Call. At this time, all participants are in a listen-o ...

908 Devices Inc. (NASDAQ:MASS) Q3 2021 Earnings Conference Call November 4, 2021 8:30 AM ET Company Participants Kelly Gura - Investor Relations Kevin Knopp - Chief Executive Officer and Co-Founder Joe Griffith - Chief Financial Officer Conference Call Participants Puneet Souda - SVB Leerink Max Masucci - Cowen Company Dan Arias - Stifel Operator Good day, and thank you for standing by. Welcome to the 908 Devices Third Quarter 2021 Financial Results Conference Call [Operator Instructions]. I would now like ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-39815 908 DEVICES INC. (Exact name of registrant as specified in its charter) Delaware 45-4524096 (Stat ...

908 Devices, Inc. (NASDAQ:MASS) Q2 2021 Earnings Conference Call August 4, 2021 8:30 AM ET Company Participants Carrie Mendivil - IR Kevin Knopp - CEO Joe Griffith - CFO Conference Call Participants Dan Arias - Stifel Brian Weinstein - William Blair Doug Schenkel - Cowen Operator Hello. Thank you for standing by, and welcome to the 908 Devices Second Quarter 2021 Financial Results Conference Call. [Operator Instructions] Please be advised that today's conference may be recorded. [Operator Instructions] I wo ...