What is 908 Devices' operating income?

908 Devices' total operating income in 2025 was -$39.42 million, based on the following breakdown: Total Gross Profit: $28.42 million Total Operating Expenses: $67.84 million

908 Devices (MASS) Financials

$8.69 -0.19 (-2.14%)

Closing price 04:00 PM Eastern

Extended Trading

$8.69 0.00 (0.00%)

As of 04:10 PM Eastern

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Annual Income Statements for 908 Devices

This table shows 908 Devices' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-13	-22	-34	-36	-72	19
Consolidated Net Income / (Loss)	-13	-22	-34	-36	-72	19
Net Income / (Loss) Continuing Operations	-13	-22	-34	-36	-53	-33
Total Pre-Tax Income	-13	-22	-34	-37	-53	-33
Total Operating Income	-5.82	-22	-35	-43	-57	-39
Total Gross Profit	15	23	26	25	25	28
Total Revenue	27	42	47	50	48	56
Operating Revenue	27	42	47	50	48	56
Total Cost of Revenue	12	19	21	25	23	28
Operating Cost of Revenue	12	19	21	25	23	28
Total Operating Expenses	21	45	61	68	82	68
Selling, General & Admin Expense	13	32	44	46	39	39
Research & Development Expense	8.24	13	18	22	15	16
Other Operating Expenses / (Income)	-	-	-	0.11	-13	14
Impairment Charge	-	-	-	0.00	41	0.00
Total Other Income / (Expense), net	-7.00	-0.10	1.82	6.15	4.25	6.08
Interest & Investment Income	-	0.55	2.03	6.48	4.49	4.14
Other Income / (Expense), net	-6.03	-0.16	-0.08	-0.13	-0.24	1.94
Income Tax Expense	-	-	0.00	-0.21	0.00	-0.07
Net Income / (Loss) Discontinued Operations	-	-	-	-	-19	53
Basic Earnings per Share	($2.35)	($0.79)	($1.07)	($1.13)	($2.12)	$0.54
Weighted Average Basic Shares Outstanding	5.49M	27.96M	31.49M	32.24M	34.08M	35.90M
Diluted Earnings per Share	($2.35)	($0.79)	($1.07)	($1.13)	($2.12)	$0.54
Weighted Average Diluted Shares Outstanding	5.49M	27.96M	31.49M	32.24M	34.08M	35.90M
Weighted Average Basic & Diluted Shares Outstanding	-	31.23M	32.05M	32.91M	35.33M	37.38M

This table shows 908 Devices' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-7.09	-7.43	-11	-13	-29	-19	44	-13	-15	4.17	-12
Consolidated Net Income / (Loss)	-7.09	-7.43	-11	-13	-29	-19	44	-13	-15	4.17	-12
Net Income / (Loss) Continuing Operations	-7.09	-7.43	-5.90	-7.57	-24	-19	-9.84	-13	-15	4.38	-12
Total Pre-Tax Income	-7.18	-7.48	-5.90	-7.57	-24	-20	0.00	-13	-15	4.21	0.00
Total Operating Income	-9.09	-9.71	-7.61	-8.54	-24	-20	-11	-15	-16	3.09	-13
Total Gross Profit	7.87	7.28	3.89	6.16	7.78	9.10	5.54	6.37	7.36	9.15	6.88
Total Revenue	14	14	7.42	11	15	19	12	13	14	17	13
Operating Revenue	14	14	7.42	11	15	19	12	13	14	17	13
Total Cost of Revenue	6.43	7.08	3.54	5.30	6.74	9.72	6.24	6.66	6.65	8.23	6.50
Operating Cost of Revenue	6.43	7.08	3.54	5.30	6.74	9.72	6.24	6.66	6.65	8.23	6.50
Total Operating Expenses	17	17	11	15	32	29	17	22	24	6.06	20
Selling, General & Admin Expense	11	12	8.21	11	9.69	14	10	10	9.13	8.82	9.91
Research & Development Expense	5.54	5.44	3.29	3.59	4.21	6.54	3.83	4.41	3.84	3.50	3.47
Other Operating Expenses / (Income)	0.10	-	0.00	0.00	-12	-	2.50	6.79	11	-6.26	6.38
Total Other Income / (Expense), net	1.91	2.23	1.72	0.97	0.85	0.74	1.19	2.32	1.44	1.12	0.93
Interest & Investment Income	1.45	2.33	1.73	1.13	0.88	0.75	0.82	1.20	1.10	1.02	0.94
Other Income / (Expense), net	0.11	-0.09	-0.01	-0.17	-0.03	-0.02	0.37	1.13	0.34	0.10	-0.01
Net Income / (Loss) Discontinued Operations	-	-	-5.02	-4.98	-5.65	-	53	-0.40	-0.07	-0.20	0.00
Basic Earnings per Share	($0.22)	($0.23)	($0.33)	($0.37)	($0.84)	($0.58)	$1.23	($0.37)	($0.41)	$0.09	($0.32)
Weighted Average Basic Shares Outstanding	32.35M	32.24M	32.71M	34.06M	34.67M	34.08M	35.39M	35.88M	36.10M	35.90M	36.82M
Diluted Earnings per Share	($0.22)	($0.23)	($0.33)	($0.37)	($0.84)	($0.58)	$1.23	($0.37)	($0.41)	$0.09	($0.32)
Weighted Average Diluted Shares Outstanding	32.35M	32.24M	32.71M	34.06M	34.67M	34.08M	35.39M	35.88M	36.10M	35.90M	36.82M
Weighted Average Basic & Diluted Shares Outstanding	32.38M	32.91M	34.49M	34.66M	34.82M	35.33M	35.86M	36.09M	36.19M	37.38M	37.81M

This table details how cash moves in and out of 908 Devices' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	141	65	-36	-67	-77	26
Net Cash From Operating Activities	4.13	-29	-21	-25	-30	-24
Net Cash From Continuing Operating Activities	4.13	-29	-21	-25	-30	-24
Net Income / (Loss) Continuing Operations	-13	-22	-34	-36	-72	19
Consolidated Net Income / (Loss)	-13	-22	-34	-36	-72	19
Depreciation Expense	0.83	0.93	1.61	2.38	4.68	4.47
Amortization Expense	-	-	0.00	-0.30	0.01	-0.64
Non-Cash Adjustments To Reconcile Net Income	7.13	5.72	9.02	13	42	-30
Changes in Operating Assets and Liabilities, net	8.99	-14	2.00	-3.55	-4.87	-17
Net Cash From Investing Activities	-0.01	-0.74	-16	-26	-46	51
Net Cash From Continuing Investing Activities	-0.01	-0.74	-16	-26	-46	51
Purchase of Property, Plant & Equipment	-0.01	-0.74	-2.05	-2.05	-0.60	-0.96
Acquisitions	-	0.00	-14	0.00	-45	-2.00
Purchase of Investments	-	-	0.00	-49	-56	-64
Divestitures	-	-	-	-	0.00	70
Sale and/or Maturity of Investments	-	-	0.00	25	55	48
Net Cash From Financing Activities	137	95	1.18	-16	-0.38	-0.70
Net Cash From Continuing Financing Activities	137	95	1.18	-16	-0.38	-0.70
Other Financing Activities, net	2.26	0.85	1.29	-0.94	-0.38	-0.70
Effect of Exchange Rate Changes	-	0.00	0.02	0.01	-0.07	0.03
Cash Income Taxes Paid	-	-	-	0.00	0.18	-0.07

This table details how cash moves in and out of 908 Devices' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-15	2.83	-16	-58	-1.79	-0.99	35	-17	0.99	7.72	-2.95
Net Cash From Operating Activities	-4.60	-1.93	-9.36	-13	-5.61	-2.24	-15	-5.78	-4.20	1.32	1.21
Net Cash From Continuing Operating Activities	-4.60	-1.93	-9.36	-13	-5.61	-2.24	-15	-5.78	-4.20	1.32	1.21
Net Income / (Loss) Continuing Operations	-7.09	-7.43	-11	-13	-29	-19	44	-13	-15	4.17	-12
Consolidated Net Income / (Loss)	-7.09	-7.43	-11	-13	-29	-19	44	-13	-15	4.17	-12
Depreciation Expense	0.74	0.41	1.33	0.50	1.41	1.44	1.29	0.97	1.09	1.11	1.14
Amortization Expense	-	-0.30	-0.09	0.01	0.00	0.10	-0.18	-0.21	-0.26	0.00	0.18
Non-Cash Adjustments To Reconcile Net Income	3.20	3.22	3.32	3.83	22	13	-51	11	13	-3.01	8.90
Changes in Operating Assets and Liabilities, net	-1.45	2.18	-2.99	-4.83	-0.16	3.12	-8.66	-3.87	-3.54	-0.96	2.94
Net Cash From Investing Activities	-9.92	4.64	-5.78	-45	3.79	0.78	50	-12	5.21	6.81	-1.99
Net Cash From Continuing Investing Activities	-9.92	4.64	-5.78	-45	3.79	0.78	50	-12	5.21	6.81	-1.99
Purchase of Property, Plant & Equipment	-0.21	-0.33	-0.90	0.65	-0.16	-0.19	-0.16	-0.12	-0.68	0.01	-0.04
Purchase of Investments	-15	-15	-15	-16	-11	-15	-24	-35	5.14	-9.73	-18
Divestitures	-	-	0.00	-	-	-	70	-	-0.01	-	0.00
Sale and/or Maturity of Investments	4.93	20	9.74	15	15	16	4.88	24	2.76	17	16
Net Cash From Financing Activities	-0.25	0.10	-1.30	0.37	0.02	0.53	-0.19	-0.08	-0.02	-0.41	-2.17
Net Cash From Continuing Financing Activities	-0.25	0.10	-1.30	0.37	0.02	0.53	-0.19	-0.08	-0.02	-0.41	-2.17
Repayment of Debt	-	-	-	-	-	-	0.00	-	-	-	-0.12
Other Financing Activities, net	-0.25	0.10	-1.30	0.37	0.02	0.53	-0.19	-0.08	-0.02	-0.41	-2.05
Effect of Exchange Rate Changes	-0.02	0.03	-0.01	-0.00	0.01	-0.06	0.03	-	-	-	0.00

This table presents 908 Devices' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	179	261	243	203	159	190
Total Current Assets	171	253	216	174	103	145
Cash & Equivalents	159	224	188	121	44	71
Short-Term Investments	-	-	0.00	25	26	42
Accounts Receivable	6.83	16	10	8.99	8.85	11
Inventories, net	4.57	7.92	13	15	11	13
Prepaid Expenses	0.35	4.53	4.66	4.18	4.18	7.27
Plant, Property, & Equipment, net	0.85	1.60	3.08	3.34	1.60	4.23
Total Noncurrent Assets	7.01	6.41	24	26	55	41
Intangible Assets	-	0.00	8.49	7.86	39	36
Other Noncurrent Operating Assets	7.01	6.41	5.34	7.62	4.35	4.87
Total Liabilities & Shareholders' Equity	179	261	243	203	159	190
Total Liabilities	40	46	52	37	45	46
Total Current Liabilities	11	15	19	23	25	34
Short-Term Debt	0.50	-	-	-	0.00	16
Accounts Payable	1.00	1.37	1.40	1.19	1.37	1.59
Accrued Expenses	5.04	6.96	8.85	8.71	7.20	6.84
Current Deferred Revenue	3.10	5.16	7.51	11	10	8.93
Other Current Liabilities	1.19	1.34	1.47	2.02	1.47	0.68
Total Noncurrent Liabilities	29	31	33	15	20	12
Noncurrent Deferred Revenue	8.59	12	11	8.57	10	8.33
Other Noncurrent Operating Liabilities	6.03	4.51	3.60	3.93	4.88	3.98
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	139	215	191	165	115	144
Total Preferred & Common Equity	139	215	191	165	115	144
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	139	215	191	165	115	144
Common Stock	218	315	324	335	356	367
Retained Earnings	-78	-101	-134	-171	-243	-223
Accumulated Other Comprehensive Income / (Loss)	-	0.00	0.80	1.37	1.15	0.05

This table presents 908 Devices' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	208	190	209	178	196	192	191	187
Total Current Assets	180	162	110	109	149	148	145	142
Cash & Equivalents	118	105	47	45	79	62	63	68
Short-Term Investments	30	30	31	27	45	57	49	44
Accounts Receivable	13	7.49	11	17	6.93	6.21	11	9.87
Inventories, net	16	16	19	18	13	15	15	13
Prepaid Expenses	3.12	3.83	3.49	2.75	5.02	7.61	6.56	7.17
Plant, Property, & Equipment, net	2.85	3.22	3.56	3.67	1.51	1.65	4.15	4.14
Total Noncurrent Assets	26	25	95	66	46	42	42	41
Intangible Assets	7.74	7.47	47	47	38	37	37	36
Other Noncurrent Operating Assets	8.12	7.10	7.26	8.87	7.55	4.93	4.65	4.86
Total Liabilities & Shareholders' Equity	208	190	209	178	196	192	191	187
Total Liabilities	39	33	52	47	37	43	55	53
Total Current Liabilities	22	19	22	26	20	30	41	40
Short-Term Debt	-	-	-	-	-	12	23	22
Accounts Payable	2.58	1.47	1.97	1.90	3.85	3.59	1.81	2.42
Accrued Expenses	7.27	5.30	5.64	7.67	4.96	5.29	7.07	4.67
Current Deferred Revenue	11	10	12	14	9.70	8.83	9.11	9.47
Other Current Liabilities	1.95	2.08	2.15	2.30	1.05	0.43	0.48	0.70
Total Noncurrent Liabilities	16	14	31	22	17	13	13	13
Noncurrent Deferred Revenue	9.37	7.87	9.53	11	9.55	9.18	9.19	9.07
Other Noncurrent Operating Liabilities	4.45	3.38	19	8.24	7.50	4.00	3.90	3.80
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	170	157	156	131	159	149	136	134
Total Preferred & Common Equity	170	157	156	131	159	149	136	134
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	170	157	156	131	159	149	136	134
Common Stock	332	337	350	353	359	361	364	369
Retained Earnings	-163	-182	-194	-223	-199	-213	-227	-235
Accumulated Other Comprehensive Income / (Loss)	0.99	0.98	0.86	1.57	-0.00	-0.02	0.04	0.00

This table displays calculated financial ratios and metrics derived from 908 Devices' official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	27,899,932.00	31,711,284.00	32,379,113.00	-	36,192,978.00
DEI Adjusted Shares Outstanding	0.00	27,899,932.00	31,711,284.00	32,379,113.00	-	36,192,978.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-0.79	-1.06	-1.12	-	0.54
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	56.93%	11.01%	7.21%	18.72%	17.70%
EBITDA Growth	0.00%	-93.48%	-58.88%	-20.55%	-77.15%	36.43%
EBIT Growth	0.00%	-87.71%	-59.53%	-20.93%	-79.49%	34.97%
NOPAT Growth	0.00%	-279.52%	-60.32%	-20.85%	-79.42%	31.31%
Net Income Growth	0.00%	-72.94%	-51.40%	-8.45%	-98.37%	126.99%
EPS Growth	0.00%	66.38%	-35.44%	-5.61%	-87.61%	125.47%
Operating Cash Flow Growth	0.00%	-803.99%	28.03%	-19.73%	-20.70%	21.68%
Free Cash Flow Firm Growth	0.00%	0.00%	-38.28%	10.58%	-142.26%	22.52%
Invested Capital Growth	0.00%	203.31%	210.56%	15.32%	127.13%	41.68%
Revenue Q/Q Growth	0.00%	31.56%	-8.22%	5.70%	8.10%	-13.60%
EBITDA Q/Q Growth	0.00%	22.19%	-21.78%	0.09%	-14.28%	53.61%
EBIT Q/Q Growth	0.00%	21.28%	-21.78%	1.17%	-15.73%	51.19%
NOPAT Q/Q Growth	0.00%	1.60%	-23.83%	1.44%	-15.93%	49.84%
Net Income Q/Q Growth	0.00%	23.37%	-23.22%	6.09%	-19.97%	571.77%
EPS Q/Q Growth	0.00%	63.93%	-22.99%	6.61%	-19.77%	515.38%
Operating Cash Flow Q/Q Growth	0.00%	-65.90%	16.39%	11.28%	-1.05%	13.07%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	6.25%	5.88%	5.69%	3.65%
Invested Capital Q/Q Growth	0.00%	632.34%	-3.51%	-10.09%	-24.20%	-1.07%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	55.49%	55.05%	55.54%	50.41%	50.07%	50.58%
EBITDA Margin	-40.95%	-50.48%	-72.25%	-81.24%	-121.22%	-59.88%
Operating Margin	-21.62%	-52.29%	-75.52%	-85.13%	-128.65%	-70.15%
EBIT Margin	-44.04%	-52.67%	-75.70%	-85.39%	-129.10%	-66.69%
Profit (Net Income) Margin	-47.66%	-52.53%	-71.64%	-72.47%	-121.09%	34.68%
Tax Burden Percent	100.00%	100.00%	100.00%	99.42%	99.61%	-58.45%
Interest Burden Percent	108.24%	99.72%	94.64%	85.36%	94.16%	88.96%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-17,455.71%	-218.14%	-161.85%	-165.75%	-69.20%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-17,451.90%	-213.54%	-157.79%	-148.56%	-121.94%
Return on Net Nonoperating Assets (RNNOA)	0.00%	17,443.17%	201.57%	141.40%	114.19%	84.29%
Return on Equity (ROE)	-9.22%	-12.54%	-16.57%	-20.44%	-51.56%	15.09%
Cash Return on Invested Capital (CROIC)	0.00%	-476.10%	-320.71%	-176.08%	-243.47%	-103.69%
Operating Return on Assets (OROA)	-6.62%	-10.11%	-14.09%	-19.25%	-42.48%	-21.44%
Return on Assets (ROA)	-7.17%	-10.08%	-13.33%	-16.34%	-39.84%	11.15%
Return on Common Equity (ROCE)	-9.22%	-12.54%	-16.57%	-20.44%	-51.56%	15.09%
Return on Equity Simple (ROE_SIMPLE)	-9.22%	-10.33%	-17.61%	-21.99%	-63.01%	0.00%
Net Operating Profit after Tax (NOPAT)	-4.07	-15	-25	-30	-54	-28
NOPAT Margin	-15.14%	-36.60%	-52.86%	-59.59%	-90.06%	-49.10%
Net Nonoperating Expense Percent (NNEP)	-6.06%	-3.80%	-4.60%	-4.05%	-17.19%	52.74%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-18.09%	-46.86%	-17.28%
Cost of Revenue to Revenue	44.51%	44.95%	44.46%	49.59%	49.93%	49.42%
SG&A Expenses to Revenue	46.49%	76.38%	93.65%	91.72%	89.95%	68.56%
R&D to Revenue	30.62%	30.96%	37.41%	43.61%	42.75%	27.72%
Operating Expenses to Revenue	77.11%	107.34%	131.06%	135.54%	178.72%	120.73%
Earnings before Interest and Taxes (EBIT)	-12	-22	-35	-43	-77	-37
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-11	-21	-34	-41	-72	-34
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	2.66	3.36	1.27	2.20	0.67	1.32
Price to Tangible Book Value (P/TBV)	2.66	3.36	1.40	2.47	1.11	1.77
Price to Revenue (P/Rev)	13.76	17.10	5.16	7.23	1.28	3.38
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	9.75
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	10.26%
Enterprise Value to Invested Capital (EV/IC)	0.00	92.70	3.97	10.99	0.16	1.99
Enterprise Value to Revenue (EV/Rev)	8.40	12.15	1.46	4.33	0.12	1.66
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	54.66	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.11	0.07	0.08	0.00	0.00	0.11
Long-Term Debt to Equity	0.10	0.07	0.08	0.00	0.00	0.00
Financial Leverage	-1.04	-1.00	-0.94	-0.90	-0.77	-0.69
Leverage Ratio	1.29	1.24	1.24	1.25	1.29	1.35
Compound Leverage Factor	1.39	1.24	1.18	1.07	1.22	1.20
Debt to Total Capital	9.64%	6.53%	7.30%	0.00%	0.00%	10.03%
Short-Term Debt to Total Capital	0.32%	0.00%	0.00%	0.00%	0.00%	10.03%
Long-Term Debt to Total Capital	9.31%	6.53%	7.30%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	90.36%	93.47%	92.70%	100.00%	100.00%	89.97%
Debt to EBITDA	-1.35	-0.70	-0.44	0.00	0.00	-0.48
Net Debt to EBITDA	13.11	9.81	5.12	0.00	0.00	2.88
Long-Term Debt to EBITDA	-1.30	-0.70	-0.44	0.00	0.00	0.00
Debt to NOPAT	-3.64	-0.97	-0.61	0.00	0.00	-0.58
Net Debt to NOPAT	35.47	13.53	7.00	0.00	0.00	3.51
Long-Term Debt to NOPAT	-3.52	-0.97	-0.61	0.00	0.00	0.00
Altman Z-Score	5.97	9.79	2.70	5.08	-1.74	1.16
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	15.78	17.05	11.22	7.71	4.10	4.24
Quick Ratio	15.33	16.21	10.32	6.86	3.27	3.65
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-26	-36	-33	-79	-41
Operating Cash Flow to CapEx	45,900.00%	-3,946.00%	-1,023.47%	-1,225.38%	-5,024.42%	-2,480.42%
Free Cash Flow to Firm to Interest Expense	0.00	-54.18	-282.27	-162.00	0.00	0.00
Operating Cash Flow to Interest Expense	4.23	-59.84	-162.25	-124.67	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	4.22	-61.36	-178.10	-134.85	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.15	0.19	0.19	0.23	0.33	0.32
Accounts Receivable Turnover	3.94	3.64	3.55	5.28	5.52	5.57
Inventory Turnover	2.62	3.04	2.04	1.81	1.91	2.33
Fixed Asset Turnover	31.64	34.41	20.00	15.64	17.63	19.29
Accounts Payable Turnover	11.92	15.98	15.05	19.25	18.30	18.80
Days Sales Outstanding (DSO)	92.63	100.32	102.87	69.11	66.16	65.53
Days Inventory Outstanding (DIO)	139.28	120.10	179.01	201.14	190.69	156.89
Days Payable Outstanding (DPO)	30.61	22.85	24.25	18.96	19.94	19.41
Cash Conversion Cycle (CCC)	201.30	197.57	257.63	251.29	236.90	203.01
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	-5.35	5.53	17	20	45	47
Invested Capital Turnover	-5.02	476.90	4.13	2.72	1.84	1.41
Increase / (Decrease) in Invested Capital	0.00	11	12	2.63	25	14
Enterprise Value (EV)	226	513	68	218	7.01	93
Market Capitalization	370	722	242	363	77	190
Book Value per Share	$25.35	$7.69	$6.01	$5.11	$3.29	$3.97
Tangible Book Value per Share	$25.35	$7.69	$5.43	$4.55	$1.99	$2.96
Total Capital	154	230	206	165	115	160
Total Debt	15	15	15	0.00	0.00	16
Total Long-Term Debt	14	15	15	0.00	0.00	0.00
Net Debt	-144	-209	-173	-146	-70	-97
Capital Expenditures (CapEx)	0.01	0.74	2.05	2.05	0.60	0.96
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1.41	14	7.98	5.56	8.31	14
Debt-free Net Working Capital (DFNWC)	161	238	196	151	78	127
Net Working Capital (NWC)	160	238	196	151	78	110
Net Nonoperating Expense (NNE)	8.75	6.72	8.80	6.47	19	-47
Net Nonoperating Obligations (NNO)	-144	-209	-173	-146	-70	-97
Total Depreciation and Amortization (D&A)	0.83	0.93	1.61	2.08	4.70	3.83
Debt-free, Cash-free Net Working Capital to Revenue	5.23%	33.13%	17.03%	11.07%	13.93%	24.11%
Debt-free Net Working Capital to Revenue	597.29%	564.04%	419.19%	301.10%	130.65%	225.14%
Net Working Capital to Revenue	595.43%	564.04%	419.19%	301.10%	130.65%	196.62%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.79)	($1.07)	($1.13)	($2.12)	$0.54
Adjusted Weighted Average Basic Shares Outstanding	0.00	27.96M	31.49M	32.24M	34.08M	35.90M
Adjusted Diluted Earnings per Share	$0.00	($0.79)	($1.07)	($1.13)	($2.12)	$0.54
Adjusted Weighted Average Diluted Shares Outstanding	0.00	27.96M	31.49M	32.24M	34.08M	35.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	31.23M	32.05M	32.91M	35.33M	37.38M
Normalized Net Operating Profit after Tax (NOPAT)	-4.07	-15	-25	-30	-25	-28
Normalized NOPAT Margin	-15.14%	-36.60%	-52.86%	-59.59%	-42.33%	-49.10%
Pre Tax Income Margin	-47.66%	-52.53%	-71.64%	-72.89%	-121.56%	-59.33%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	-12.13	-45.74	-274.92	-213.38	0.00	0.00
NOPAT to Interest Expense	-4.17	-31.79	-192.00	-148.91	0.00	0.00
EBIT Less CapEx to Interest Expense	-12.14	-47.26	-290.78	-223.55	0.00	0.00
NOPAT Less CapEx to Interest Expense	-4.18	-33.30	-207.85	-159.08	0.00	0.00
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-14.79%	-3.79%	-0.33%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from 908 Devices' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	32,334,184.00	32,379,113.00	32,909,929.00	34,485,185.00	34,656,778.00	-	35,329,993.00	35,861,154.00	36,085,698.00	36,192,978.00	37,379,953.00
DEI Adjusted Shares Outstanding	32,334,184.00	32,379,113.00	32,909,929.00	34,485,185.00	34,656,778.00	-	35,329,993.00	35,861,154.00	36,085,698.00	36,192,978.00	37,379,953.00
DEI Earnings Per Adjusted Shares Outstanding	-0.22	-0.23	-0.33	-0.36	-0.85	-	1.23	-0.37	-0.42	0.12	-0.32
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-9.50%	23.26%	-21.77%	-5.23%	1.55%	31.14%	58.68%	13.72%	-3.54%	21.17%	13.62%
EBITDA Growth	-22.10%	0.37%	48.33%	21.94%	-180.53%	-93.09%	-49.33%	-61.88%	34.47%	128.24%	-21.28%
EBIT Growth	-24.59%	4.93%	41.34%	21.61%	-173.16%	-106.71%	-39.73%	-61.19%	34.84%	119.01%	-21.01%
NOPAT Growth	-27.05%	6.05%	41.53%	21.94%	-169.49%	-108.51%	-44.87%	-77.55%	33.36%	126.36%	-16.85%
Net Income Growth	-13.32%	24.13%	12.89%	-34.26%	-313.01%	-161.79%	499.40%	-6.04%	48.86%	121.46%	-127.42%
EPS Growth	-10.00%	25.81%	15.38%	-27.59%	-281.82%	-152.17%	472.73%	0.00%	51.19%	115.52%	-126.02%
Operating Cash Flow Growth	6.84%	62.28%	12.12%	-65.44%	-21.89%	-16.22%	-60.51%	55.64%	25.02%	158.81%	108.02%
Free Cash Flow Firm Growth	55.59%	50.05%	71.08%	-140.16%	-414.21%	-317.34%	-133.31%	142.03%	101.23%	57.19%	6.88%
Invested Capital Growth	23.76%	15.32%	17.01%	262.74%	169.39%	127.13%	54.68%	-47.06%	-20.38%	41.68%	27.70%
Revenue Q/Q Growth	18.22%	0.38%	-48.28%	54.43%	26.67%	12.20%	-17.89%	10.68%	7.44%	24.10%	-23.01%
EBITDA Q/Q Growth	21.54%	-17.76%	34.16%	-28.32%	-181.97%	35.02%	37.41%	-39.10%	-14.15%	128.41%	-368.80%
EBIT Q/Q Growth	19.15%	-9.21%	22.25%	-14.19%	-181.73%	32.98%	36.50%	-31.73%	-13.89%	119.95%	-504.23%
NOPAT Q/Q Growth	16.91%	-6.87%	21.64%	-12.19%	-186.85%	32.97%	34.17%	-37.50%	-7.67%	127.04%	-391.87%
Net Income Q/Q Growth	24.11%	-4.72%	-46.97%	-14.94%	-133.46%	33.62%	324.23%	-130.52%	-12.60%	127.86%	-386.42%
EPS Q/Q Growth	24.14%	-4.55%	-43.48%	-12.12%	-127.03%	30.95%	312.07%	-130.08%	-10.81%	121.95%	-455.56%
Operating Cash Flow Q/Q Growth	41.64%	58.04%	-384.82%	-39.36%	57.00%	60.00%	-569.59%	61.49%	27.32%	131.37%	-8.64%
Free Cash Flow Firm Q/Q Growth	59.74%	10.96%	8.52%	-632.31%	13.79%	32.69%	19.21%	231.92%	-97.49%	-1,698.47%	-75.76%
Invested Capital Q/Q Growth	1.19%	-10.09%	14.58%	247.94%	-24.85%	-24.20%	6.39%	19.08%	13.04%	-1.07%	-4.10%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	55.04%	50.69%	52.37%	53.76%	53.57%	48.37%	47.05%	48.89%	52.52%	52.67%	51.43%
EBITDA Margin	-57.63%	-67.61%	-86.07%	-71.51%	-159.19%	-99.54%	-81.00%	-101.80%	-108.15%	24.76%	-86.46%
Operating Margin	-63.57%	-67.68%	-102.55%	-74.50%	-168.70%	-107.61%	-93.62%	-116.31%	-116.56%	17.78%	-96.29%
EBIT Margin	-62.80%	-68.33%	-102.72%	-75.96%	-168.93%	-107.70%	-90.46%	-107.66%	-114.12%	18.35%	-96.34%
Profit (Net Income) Margin	-49.61%	-51.76%	-147.09%	-109.47%	-201.77%	-103.33%	370.24%	-102.08%	-106.98%	24.02%	-89.34%
Tax Burden Percent	98.79%	99.29%	185.19%	165.69%	123.88%	99.64%	0.00%	103.65%	100.68%	99.10%	0.00%
Interest Burden Percent	79.96%	76.29%	77.32%	86.99%	96.42%	96.29%	0.00%	91.48%	93.11%	132.08%	0.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-106.18%	-128.68%	-164.26%	-49.21%	-138.59%	-138.64%	-118.13%	-88.38%	-99.56%	25.06%	-97.46%
ROIC Less NNEP Spread (ROIC-NNEP)	-105.73%	-128.29%	-160.48%	-43.49%	-127.52%	-133.75%	-157.84%	-85.46%	-95.13%	23.84%	-94.71%
Return on Net Nonoperating Assets (RNNOA)	94.24%	114.96%	140.46%	30.25%	93.04%	102.80%	128.99%	51.64%	57.20%	-16.48%	68.92%
Return on Equity (ROE)	-11.94%	-13.72%	-23.80%	-18.96%	-45.55%	-35.84%	10.86%	-36.75%	-42.36%	8.58%	-28.54%
Cash Return on Invested Capital (CROIC)	-173.71%	-176.08%	-139.90%	-162.13%	-178.34%	-243.47%	-190.21%	-39.01%	-80.51%	-103.69%	-96.62%
Operating Return on Assets (OROA)	-13.04%	-15.41%	-24.24%	-17.21%	-41.72%	-35.44%	-24.43%	-35.25%	-40.21%	5.90%	-29.10%
Return on Assets (ROA)	-10.30%	-11.67%	-34.71%	-24.80%	-49.83%	-34.00%	99.99%	-33.42%	-37.70%	7.72%	-26.99%
Return on Common Equity (ROCE)	-11.94%	-13.72%	-23.80%	-18.96%	-45.55%	-35.84%	10.86%	-36.75%	-42.36%	8.58%	-28.54%
Return on Equity Simple (ROE_SIMPLE)	-22.81%	0.00%	-22.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-6.36	-6.80	-5.33	-5.98	-17	-14	-7.72	-11	-11	3.09	-9.02
NOPAT Margin	-44.50%	-47.38%	-71.78%	-52.15%	-118.09%	-75.33%	-65.54%	-81.42%	-81.59%	17.78%	-67.40%
Net Nonoperating Expense Percent (NNEP)	-0.45%	-0.39%	-3.78%	-5.71%	-11.07%	-4.89%	39.71%	-2.92%	-4.42%	1.21%	-2.75%
Return On Investment Capital (ROIC_SIMPLE)	-	-4.11%	-3.40%	-3.82%	-13.08%	-12.37%	-4.84%	-6.62%	-7.17%	1.93%	-5.76%
Cost of Revenue to Revenue	44.96%	49.31%	47.63%	46.24%	46.43%	51.63%	52.95%	51.11%	47.48%	47.33%	48.57%
SG&A Expenses to Revenue	79.16%	80.42%	110.56%	96.93%	66.71%	73.11%	86.94%	79.30%	65.22%	50.74%	74.09%
R&D to Revenue	38.73%	37.93%	44.35%	31.33%	28.96%	34.73%	32.51%	33.79%	27.40%	20.16%	25.94%
Operating Expenses to Revenue	118.61%	118.38%	154.92%	128.26%	222.27%	155.98%	140.67%	165.20%	169.08%	34.89%	147.72%
Earnings before Interest and Taxes (EBIT)	-8.98	-9.81	-7.62	-8.71	-25	-20	-11	-14	-16	3.19	-13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-8.24	-9.70	-6.39	-8.20	-23	-19	-9.54	-13	-15	4.30	-12
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.27	2.20	1.58	1.14	0.92	0.67	0.99	1.72	2.32	1.32	1.71
Price to Tangible Book Value (P/TBV)	1.41	2.47	1.78	2.58	1.62	1.11	1.30	2.29	3.19	1.77	2.32
Price to Revenue (P/Rev)	4.53	7.23	5.16	3.74	2.52	1.28	3.04	3.90	4.86	3.38	3.96
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	9.75	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.26%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3.06	10.99	5.03	1.27	0.82	0.16	0.97	3.56	4.80	1.99	3.11
Enterprise Value to Revenue (EV/Rev)	1.42	4.33	2.37	2.11	1.02	0.12	0.65	2.27	3.49	1.66	2.41
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.08	0.17	0.11	0.17
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.89	-0.90	-0.88	-0.70	-0.73	-0.77	-0.82	-0.60	-0.60	-0.69	-0.73
Leverage Ratio	1.25	1.25	1.21	1.27	1.29	1.29	1.22	1.31	1.38	1.35	1.30
Compound Leverage Factor	1.00	0.95	0.94	1.10	1.24	1.25	0.00	1.20	1.29	1.79	0.00
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.22%	14.44%	10.03%	14.31%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.22%	14.44%	10.03%	14.31%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	92.78%	85.56%	89.97%	85.69%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.14	-0.32	-0.48	-0.63
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.33	1.23	2.88	2.50
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.19	-0.42	-0.58	-0.78
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.76	1.62	3.51	3.09
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	3.25	5.62	4.22	1.33	0.15	-0.57	2.05	2.87	2.52	1.86	1.59
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	8.06	7.71	8.37	5.09	4.24	4.10	7.62	4.98	3.49	4.24	3.58
Quick Ratio	7.20	6.86	7.33	4.07	3.44	3.27	6.71	4.20	2.97	3.65	3.07
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-11	-9.43	-8.63	-63	-54	-39	-20	27	0.67	-11	-19
Operating Cash Flow to CapEx	-2,222.22%	-579.58%	-1,036.21%	0.00%	-3,594.23%	-1,180.53%	-9,445.91%	-4,740.98%	-618.24%	0.00%	3,012.50%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.21	0.23	0.24	0.23	0.25	0.33	0.27	0.33	0.35	0.32	0.30
Accounts Receivable Turnover	3.38	5.28	6.15	4.46	3.23	5.52	7.23	7.63	4.70	5.57	6.88
Inventory Turnover	1.70	1.81	1.57	1.37	1.34	1.91	1.78	1.99	2.04	2.33	2.16
Fixed Asset Turnover	16.93	15.64	15.39	14.63	14.65	17.63	22.06	25.18	16.65	19.29	20.46
Accounts Payable Turnover	11.10	19.25	14.56	12.91	10.12	18.30	9.76	12.17	18.21	18.80	8.96
Days Sales Outstanding (DSO)	107.98	69.11	59.33	81.76	112.91	66.16	50.50	47.86	77.60	65.53	53.03
Days Inventory Outstanding (DIO)	214.31	201.14	232.44	267.34	271.99	190.69	204.63	183.64	179.32	156.89	169.10
Days Payable Outstanding (DPO)	32.89	18.96	25.08	28.27	36.06	19.94	37.40	29.98	20.04	19.41	40.75
Cash Conversion Cycle (CCC)	289.40	251.29	266.70	320.84	348.83	236.90	217.73	201.53	236.88	203.01	181.37
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	22	20	23	79	59	45	35	42	47	47	45
Invested Capital Turnover	2.39	2.72	2.29	0.94	1.17	1.84	1.80	1.09	1.22	1.41	1.45
Increase / (Decrease) in Invested Capital	4.23	2.63	3.30	57	37	25	12	-37	-12	14	9.73
Enterprise Value (EV)	67	218	114	100	49	7.01	34	149	227	93	139
Market Capitalization	215	363	248	178	120	77	158	256	316	190	229
Book Value per Share	$5.26	$5.11	$4.77	$4.53	$3.78	$3.29	$4.51	$4.15	$3.78	$3.97	$3.59
Tangible Book Value per Share	$4.71	$4.55	$4.23	$2.00	$2.14	$1.99	$3.44	$3.11	$2.75	$2.96	$2.63
Total Capital	170	165	157	156	131	115	159	160	159	160	157
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	12	23	16	22
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-148	-146	-134	-77	-72	-70	-124	-107	-89	-97	-89
Capital Expenditures (CapEx)	0.21	0.33	0.90	-0.65	0.16	0.19	0.16	0.12	0.68	-0.01	0.04
Debt-free, Cash-free Net Working Capital (DFCFNWC)	9.61	5.56	8.34	11	12	8.31	5.13	11	14	14	13
Debt-free Net Working Capital (DFNWC)	158	151	143	89	83	78	129	130	126	127	125
Net Working Capital (NWC)	158	151	143	89	83	78	129	118	103	110	102
Net Nonoperating Expense (NNE)	0.73	0.63	5.59	6.57	12	5.27	-51	2.69	3.56	-1.08	2.94
Net Nonoperating Obligations (NNO)	-148	-146	-134	-77	-72	-70	-124	-107	-89	-97	-89
Total Depreciation and Amortization (D&A)	0.74	0.10	1.24	0.51	1.41	1.54	1.11	0.76	0.84	1.12	1.32
Debt-free, Cash-free Net Working Capital to Revenue	20.22%	11.07%	17.32%	23.87%	24.13%	13.93%	9.84%	17.00%	22.17%	24.11%	22.52%
Debt-free Net Working Capital to Revenue	331.44%	301.10%	295.94%	186.67%	174.25%	130.65%	248.45%	197.89%	194.44%	225.14%	215.84%
Net Working Capital to Revenue	331.44%	301.10%	295.94%	186.67%	174.25%	130.65%	248.45%	180.23%	159.06%	196.62%	177.08%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.22)	($0.23)	($0.33)	($0.37)	($0.84)	($0.58)	$1.23	($0.37)	($0.41)	$0.09	($0.32)
Adjusted Weighted Average Basic Shares Outstanding	32.35M	32.24M	32.71M	34.06M	34.67M	34.08M	35.39M	35.88M	36.10M	35.90M	36.82M
Adjusted Diluted Earnings per Share	($0.22)	($0.23)	($0.33)	($0.37)	($0.84)	($0.58)	$1.23	($0.37)	($0.41)	$0.09	($0.32)
Adjusted Weighted Average Diluted Shares Outstanding	32.35M	32.24M	32.71M	34.06M	34.67M	34.08M	35.39M	35.88M	36.10M	35.90M	36.82M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	32.38M	32.91M	34.49M	34.66M	34.82M	35.33M	35.86M	36.09M	36.19M	37.38M	37.81M
Normalized Net Operating Profit after Tax (NOPAT)	-6.36	-6.80	-5.33	-5.98	4.22	-14	-7.72	-11	-11	2.16	-9.02
Normalized NOPAT Margin	-44.50%	-47.38%	-71.78%	-52.15%	29.07%	-75.33%	-65.54%	-81.42%	-81.59%	12.45%	-67.40%
Pre Tax Income Margin	-50.22%	-52.13%	-79.43%	-66.07%	-162.88%	-103.70%	0.00%	-98.48%	-106.25%	24.23%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

908 Devices Financials - Frequently Asked Questions

According to the most recent income statement we have on file, 908 Devices' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Over the last 5 years, 908 Devices' net income changed from -$12.82 million in 2020 to $19.49 million in 2025, a change of -252.0%. See 908 Devices' forecast for analyst expectations on what's next for the company.

908 Devices' total operating income in 2025 was -$39.42 million, based on the following breakdown:

Total Gross Profit: $28.42 million
Total Operating Expenses: $67.84 million

Over the last 5 years, 908 Devices' total revenue changed from $26.89 million in 2020 to $56.20 million in 2025, a change of 109.0%.

908 Devices' total liabilities were at $46.37 million at the end of 2025, a 3.3% increase from 2024, and a 16.6% increase since 2020.

In the past 5 years, 908 Devices' cash and equivalents has ranged from $44.03 million in 2024 to $224.07 million in 2021, and is currently $70.52 million as of their latest financial filing in 2025.

Over the last 5 years, 908 Devices' book value per share changed from 25.35 in 2020 to 3.97 in 2025, a change of -84.3%.

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Financial statements for NASDAQ:MASS last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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908 Devices (MASS) Financials

Financials Breakdown Chart

908 Devices Financials - Frequently Asked Questions

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908 Devices (MASS) Financials

Annual Income Statements for 908 Devices

Quarterly Income Statements for 908 Devices

Annual Cash Flow Statements for 908 Devices

Quarterly Cash Flow Statements for 908 Devices

Annual Balance Sheets for 908 Devices

Quarterly Balance Sheets for 908 Devices

Annual Metrics And Ratios for 908 Devices

Quarterly Metrics And Ratios for 908 Devices

Financials Breakdown Chart

908 Devices Financials - Frequently Asked Questions

When does 908 Devices' fiscal year end?

How has 908 Devices' net income changed over the last 5 years?

What is 908 Devices' operating income?

How has 908 Devices' revenue changed over the last 5 years?

How much debt does 908 Devices have?

How much cash does 908 Devices have?

How has 908 Devices' book value per share changed over the last 5 years?

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