908 Devices reports Q2 EPS (37c), consensus (33c)

Reports Q2 revenue $14M, consensus $13.53M. Gross margin increased 490 basis points to 53% for the second quarter 2024, partly due to timing of production but also as a result of scale across the business including higher handheld service revenues “We delivered solid execution on a multitude of fronts in the quarter, including the acquisition and integration of RedWave Technology into our company. With an expanded handheld portfolio, we are now supporting both our new and existing forensics customers more efficiently,” said Kevin J. Knopp, CEO and Co-founder. “We also maintained a strong focus on operational excellence during the quarter and have begun to see early benefits of our increasing scale.”