MASS - 908 Devices GAAP EPS of -$0.39 misses by $0.03 revenue of $9.5M beats by $0.85M

2023-05-09 07:24:31 ET

• 908 Devices press release ( NASDAQ: MASS ): Q1 GAAP EPS of -$0.39 misses by $0.03 .
• Revenue of $9.5M (+14.3% Y/Y) beats by $0.85M .
• This was primarily driven by growth in handheld devices and recurring revenue. The installed base grew to 2,468 devices with 78 devices placed during the first quarter 2023.
• Recurring revenue grew $1.7 million to $4.2 million or 67% over the prior year period. This was driven by growth in both accessory and consumable revenues as well as increased service revenue.
• Handheld revenue was $6.2 million, increasing 38% year over year
• Desktop revenue was $3.1 million, decreasing 13% year over year
• Recurring revenue was $4.2 million, increasing 67% year over year

• 2023 Guidance

  908 Devices continues to expect full year 2023 revenue to be in the range of $48 million to $52 million, representing 2% to 11% growth over full year 2022.

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