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908 Devices Reports Second Quarter 2026 Financial Results and Raises Low End of 2026 Revenue Outlook
Revenue increased 23% compared to prior year
Updated full year 2026 outlook reflects 21% to 25% year-over-year growth
BURLINGTON, Mass., August 11, 2026–(BUSINESS WIRE)–908 Devices Inc. (Nasdaq: MASS), a core small-cap growth company focused on purpose-built handheld chemical analysis tools for vital health, safety, and defense tech applications, today reported financial results for the quarter ended June 30, 2026.
“We delivered another strong quarter, growing revenue 23% year-over-year, while narrowing our Adjusted EBITDA loss by more than half compared to a year ago,” said Kevin J. Knopp, CEO and Co-founder. “Our momentum with U.S. state and local customers remained particularly strong, representing more than half of our revenue, as agencies modernize to address today’s threats and hazards. Our newest FTIR product, VipIR, is leading that charge, and we surpassed our 100th unit shipped since launch. With the same commercial channel behind that momentum, we are now introducing NIRLab to the U.S. market. In just our first 60 days since deal close, we have engaged hundreds of prospects nationwide across more than 30 agencies. With a robust pipeline of opportunities, we are confident in our team’s ability to deliver, and we remain committed to the disciplined execution of our strategy.”
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Revenue of $16.1 million for the second quarter of 2026, increasing 23% year-over-year
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Recurring revenue was $4.9 million, representing 31% of total revenues for the quarter
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Gross margin was 52% and adjusted gross margin was 57% for the second quarter of 2026, an 85-basis point improvement in adjusted gross margin compared to the second quarter of 2025
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Net loss from continuing operations was $11.9 million and Adjusted EBITDA loss was $1.9 million for the second quarter of 2026, a reduction of more than 50% year-over-year
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Ended the quarter with a strong balance sheet, with a cash position of $101.5 million
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Shipped more than 35 VipIR chemical identification devices in the quarter, including 18 units to a major South Asia law enforcement agency
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Subsequent to quarter end, secured a $6 million ProtectIR order from a corrections agency in the Asia-Pacific region, further supporting our second-half revenue outlook
Second Quarter 2026 Financial Results
Revenue was $16.1 million for the three months ended June 30, 2026, a 23% increase over the prior year period, driven by an increase in product revenue for VipIR and the addition of NIRLab revenue. The installed base grew 23% year-over-year to 4,101 devices, with 198 devices placed during the second quarter. Recurring revenue represented 31% of total revenues in the quarter.
