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908 Devices (MASS)
NASDAQ:MASS
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Earnings Data
Report Date
Mar 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.35Last Year’s EPS
-$0.23Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: -43.09%
|Next Earnings Date:Mar 11, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook with notable revenue growth and successful integration of RedWave Technology but was overshadowed by financial results falling short of expectations, lowered revenue guidance, and a significant goodwill impairment charge. Cost-saving measures and strategic adjustments are in place, yet market softness and governmental delays pose challenges.Company Guidance
In the third quarter of 2024, 908 Devices reported revenue of $16.8 million, marking a 17% increase from the previous year, driven by a rise in handheld device sales, specifically 178 units, compared to 117 the prior year. Despite this growth, the company adjusted its full-year revenue guidance to $56 million to $58 million, representing an 11% to 15% increase, due to a delayed recovery in demand and governmental budget constraints. Gross margin was 50%, down from 55% last year, attributed to shifts in service revenue and manufacturing variances. The company experienced a net loss of $29.3 million, influenced by a $30.5 million non-cash goodwill impairment charge and stock-based compensation, but maintained $71.7 million in cash, cash equivalents, and marketable securities by the end of the quarter. To counteract market challenges, 908 Devices is pursuing operational adjustments, including relocating manufacturing to lower-cost locations, reducing workforce by 11% to save $4.2 million annually, and enhancing sales strategies to boost efficiency and growth.Revenue Increase
Revenue for Q3 2024 was $16.8 million, a 17% increase from the prior year period, driven primarily by an increase in handheld device revenue.
Successful Integration of RedWave Technology
The acquisition of RedWave Technology has been integrated successfully, contributing approximately $3.2 million to revenue and offering potential for cost efficiencies and margin expansion.
Handheld Device Growth
178 handheld devices were shipped in Q3, up from 117 in Q3 2023, bringing the installed base to 2,796, showing a 20% growth excluding AVCAD and RedWave contributions.
Cost Reduction Initiatives
Structural adjustments, including moving manufacturing to lower-cost locations and a workforce reduction of 11%, are expected to save approximately $6.6 million annually.
Strong Handheld Market Penetration
New enterprise accounts include the Vietnam Border Guard, EU Drug Detect program, and U.S. National Guard Bureau Counter Drug Program.
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MASS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MASS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $3.62 | $2.92 | -19.34% |
| Aug 06, 2024 | $4.63 | $4.63 | 0.00% |
| Apr 30, 2024 | $5.76 | $5.70 | -1.04% |
| Mar 05, 2024 | $7.23 | $6.96 | -3.73% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does 908 Devices (MASS) report earnings?
908 Devices (MASS) is schdueled to report earning on Mar 11, 2025, TBA Not Confirmed.
What is 908 Devices (MASS) earnings time?
908 Devices (MASS) earnings time is at Mar 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MASS EPS forecast?
MASS EPS forecast for the fiscal quarter 2024 (Q4) is -$0.35.
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