908 Devices Raises Low End of 2026 Revenue Range

The Tip Desk · November 10, 2026 · 2 min read

Third-quarter revenue reached $19.0 million, up 35% from a year earlier, and the company lifted the low end of its 2026 outlook to $68.5 million.

908 Devices Inc. (MASS), a maker of handheld chemical-analysis tools for health, safety and defense applications, reported third-quarter revenue of $19.0 million, up 35% from a year earlier, and raised the low end of its full-year 2026 revenue outlook.

The year-over-year increase accelerated from 23% in the second quarter and 14% in the first quarter. The company said the gain was driven by higher product revenue for FTIR devices and the addition of NIRLab revenue. Product revenue was $15.8 million, compared with $10.8 million a year earlier. Service and contract revenue was $3.2 million.

Chief Executive Kevin J. Knopp said the FTIR portfolio drove the quarter and that device shipments reached a company record. He also said NIRLab was gaining traction in unit volumes and pipeline as the company builds connected, recurring revenue.

The installed base grew 26% year-over-year to 4,409 devices. The company placed 308 devices in the quarter, a record, after 198 placements in the second quarter and 167 in the first. Recurring revenue was $5.1 million, or 27% of total revenue. In the first full quarter after the NIRLAB AG acquisition, 908 Devices shipped approximately 100 NIRLab devices.

GAAP gross margin held at 53%, matching the year-earlier quarter. Adjusted gross margin was 58%. Gross profit was $10.0 million. Adjusted gross profit was $10.9 million.

Net loss from continuing operations was $4.6 million, or $0.11 a share, compared with a $14.9 million loss a year earlier. Adjusted EBITDA was a $1.7 million loss. Operating expenses were $15.5 million. The company said the $8.2 million year-over-year decrease was primarily an $11.0 million noncash reduction in expense related to the change in fair value of contingent consideration, partly offset by a $2.8 million increase in selling, general and administrative expenses. Research and development expense was $3.8 million.

Cash, cash equivalents and marketable securities were $99.1 million as of September 30, 2026, with no debt outstanding.

908 Devices updated its full-year 2026 revenue guidance to $68.5 million to $70.0 million, from $68.0 million to $70.0 million previously, representing 22% to 25% growth compared with 2025 revenue.