908 Devices (NasdaqGM:MASS) Q4 2025 Earnings call March 03, 2026 08:30 AM ET Company ParticipantsBarbara Russo - VP of Marketing and Corporate CommunicationsChad Wiatrowski - VP of Equity ResearchDan Arias - Managing DirectorJoseph Griffith - CFOKevin Knopp - CEO and Co-founderConference Call ParticipantsMatt Larew - Equity Research AnalystPuneet Souda - Senior Research AnalystOperatorHello, everyone. Thank you for joining us, and welcome to the 908 Devices fourth quarter 2025 financial results conference c ...

908 Devices (NasdaqGM:MASS) Q4 2025 Earnings call March 03, 2026 08:30 AM ET Company ParticipantsBarbara Russo - VP of Marketing and Corporate CommunicationsChad Wiatrowski - VP of Equity ResearchDan Arias - Managing DirectorJoseph Griffith - CFOKevin Knopp - CEO and Co-founderConference Call ParticipantsMatt Larew - Equity Research AnalystPuneet Souda - Senior Research AnalystOperatorHello, everyone. Thank you for joining us, and welcome to the 908 Devices Fourth Quarter 2025 Financial Results Conference C ...

Financial Data and Key Metrics Changes - The company achieved $17.4 million in revenue for Q4 2025, representing a 21% year-over-year growth from $14.3 million in Q4 2024 [16] - For the full year 2025, revenue was $56.2 million, an 18% increase from $47.7 million in 2024 [21] - Adjusted EBITDA for Q4 2025 was $0.7 million, a significant improvement from a loss of $4 million in the prior year [20] - The company ended 2025 with $113 million in cash and no debt outstanding [24] Business Line Data and Key Metrics Changes - Handheld product and service revenue for Q4 2025 was $16 million, up 18% from $13.6 million in Q4 2024, driven by FTIR products [16] - Recurring revenue represented 32% of total revenues in Q4 2025, amounting to $5.5 million, an 11% increase year-over-year [18] - The XplorIR device achieved over 40% year-over-year growth, with more than 150 units delivered in its first full year of sales [7][49] Market Data and Key Metrics Changes - 27% of revenues in 2025 came from outside the U.S., up from 25% in 2024, with significant sales growth in NATO countries [9] - The state and local sales channel grew 38% to approximately $24 million, representing 43% of total revenues for 2025 [21] Company Strategy and Development Direction - The company aims to scale proven platforms, extend platform leadership, and strengthen revenue durability in 2026 [13][14] - Focus on increasing adoption of devices to address global threats to public health and safety, particularly through the XplorIR and VipIR products [6][10] - The company is consolidating contracting partners to improve procurement efficiency and predictability in U.S. federal government business [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to capitalize on growth opportunities driven by increased funding for public safety and defense [28] - The company anticipates revenue growth of 15%-20% in 2026, with expectations for continued demand for its products amid global defense spending increases [24][25] - Management highlighted a strong late-stage pipeline and favorable U.S. policy decisions as key factors for sustained growth [28] Other Important Information - The company has made significant operational improvements, including manufacturing consolidation and cost management, leading to a right-sized cost structure [12] - The introduction of the VipIR device is expected to have a full-year impact in 2026, contributing to revenue growth [10] Q&A Session Summary Question: What is the rationale behind the partnership with Mountain Horse? - The partnership aims to drive procurement efficiency and improve forecasting visibility by consolidating from four partners to one, enhancing the ability to deliver fully configured solutions to the U.S. government [32][34] Question: How will the new MX908 platform be adopted? - The next-gen MX908 platform is on schedule for commercial launch, with expectations for demand from both existing and new customers due to its enhanced capabilities [39][41] Question: What factors will influence revenue growth in 2026? - Key growth drivers include the full-year impact of VipIR, continued demand for XplorIR, and increased funding for defense and public safety initiatives [45][49]

Analysis at the speed of life MARCH 2026 Forward looking statements / Non-GAAP financial measures This presentation and the accompanying oral presentation (this "presentation") contain forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may relate to, but are not limited to, expectations of future results of operations or financial performance of 908 Devices Inc. ...