908 Devices reports Q3 EPS (41c), consensus (12c)

Reports Q3 revenue $14.01M, consensus $13.52M. “We are pleased with our year-to-date progress as we continue to build a more predictable and profitable business and bring our 908 Devices (MASS) 2.0 vision to life,” said Kevin Knopp, CEO and Co-founder. “Revenue for the first nine months increased 16%, with strong FTIR demand and with 47% of revenues coming from our U.S. state and local channel. This product and channel diversity strengthens our run-rate foundation and reduces reliance on the timing of larger U.S. federal and defense enterprise awards. Q3 also reflects the structural improvements we have made to our cost base, resulting in our best Adjusted EBITDA performance in our public company history, positioning us to reach positive Adjusted EBITDA in Q4. While the U.S. Government shutdown may affect the timing of certain awards and shipments, our demand outlook and strategic progress remain strong.”