analyzeportfolio
Nasdaq · Healthcare

908 Devices Inc. (MASS)

As-reported financials and SEC filings for 908 Devices Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About 908 Devices Inc.

908 Devices Inc. develops handheld devices for chemical analysis using miniaturized mass spectrometry and optical spectroscopy technologies. Their products provide rapid, on-site identification of unknown substances for applications in health, safety, and defense, serving customers such as government agencies and frontline workers. The company focuses on making laboratory-grade chemical analysis accessible outside traditional labs through portable, easy-to-use instruments.

Snapshot

Revenue
$56.2M
Revenue growth (YoY)
17.7%
Net income
$19.5M
Diluted EPS
$0.54
Gross margin
50.6%
Operating margin
-70.1%
Net margin
34.7%
FCF margin
-43.9%
ROE
13.6%
net income / fiscal-year-end equity
P/E
19.9×
trailing when available, otherwise FY EPS
Market cap
$443.5M
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at 908 Devices

  • Revenue grew 17.7% to $56M in FY2025, after a 4.9% decline the year before.
  • Operating margin is -70.1% in FY2025, -17.9 pp against -52.3% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $16M, up 23.3% from Q2 FY2025.
  • Free cash flow was negative $25M in FY2025.
  • Net income turned positive at $19M in FY2025, from a $72M loss in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where 908 Devices’s fundamentals sit among the 558 Healthcare companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin50.6%
37th percentile of 282
Operating margin-70.1%
6th percentile of 399
Net margin34.7%
95th percentile of 418
FCF margin-43.9%
8th percentile of 372
Revenue growth (YoY)+17.7%
65th percentile of 538
ROE13.6%
79th percentile of 473
P/E19.9×
41st percentile of 201
Short interest5.06d
57th percentile of 557

908 Devices’s net margin of 34.7% ranks in the 95th percentile of the 418 Healthcare companies reporting it. 908 Devices’s operating margin of -70.1% ranks in the 6th percentile of the 399 Healthcare companies reporting it. 908 Devices’s FCF margin of -43.9% ranks in the 8th percentile of the 372 Healthcare companies reporting it.

No reported insider purchases (code P) in the last 90 days; 25 insider sales totaling $4.5M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 4 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
2
+4 quant / multi-strat
Initiated / added
3
1 new, 2 added
Reduced / exited
5
3 trimmed, 2 exited
Combined position
$29.5M
reported long value
InvestorAs ofPosition valueSharesChange
ARK Investment ManagementQ2 2026$17.6M2.0MAdded
First Eagle Investment ManagementQ2 2026$8.1M930.0KAdded
Renaissance TechnologiesquantQ2 2026$1.7M191.9KReduced
AQR Capital ManagementquantQ2 2026$904,008103.9KReduced
D. E. ShawquantQ2 2026$656,38075.4KNew
Citadel AdvisorsquantQ2 2026$545,89962.7KReduced

No longer held by: Millennium Management (as of Q2 2026), Two Sigma Investments (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
25
$4.5M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-25
filed 2026-08-27
Griffith Joseph H. IVChief Financial OfficerSell11.5K$10.95$125K
2026-08-21
filed 2026-08-24
AWM Investment Company, Inc.10% ownerSell41.6K$10.61$441K
2026-08-20
filed 2026-08-24
AWM Investment Company, Inc.10% ownerSell8.4K$10.52$89K
2026-08-17
Knopp Kevin J.President and CEOSell20.0K$10.35$207K
2026-08-13
filed 2026-08-17
Knopp Kevin J.President and CEOSell7.6K$10.06$77K
2026-08-12
Knopp Kevin J.President and CEOSell2.7K$10.07$28K
2026-08-11
filed 2026-08-12
Knopp Kevin J.President and CEOSell115.7K$9.83$1.1M
2026-08-11
filed 2026-08-12
Knopp Kevin J.President and CEOSell30.2K$10.16$307K
2026-08-11
filed 2026-08-12
Brown Christopher D.DirectorSell8.4K$9.23$77K
2026-08-10
filed 2026-08-12
Brown Christopher D.DirectorSell9.4K$9.03$85K
2026-08-10
filed 2026-08-12
Knopp Kevin J.President and CEOSell348$9.06$3K
2026-08-05
filed 2026-08-07
Brown Christopher D.DirectorSell20.0K$8.49$170K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
2.8M
settled 2026-08-14
Change vs prior
-17.6%
vs previous settlement
Days to cover
5.06
at avg daily volume
Avg daily volume
551.5K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-142.8M-17.6%5.06
2026-07-313.4M+4.8%11.02
2026-07-153.2M+5.0%14.96
2026-06-303.1M-3.9%6.91
2026-06-153.2M+1.0%13.75
2026-05-293.2M-5.0%11.37
2026-05-153.3M-3.9%10.57
2026-04-303.5M+0.0%15.09

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$56.2M$47.7M$50.2M$46.9M$42.2M
Gross profit$28.4M$24.5M$25.3M$26.0M$23.2M
Operating income$-39.4M$-57.4M$-42.8M$-35.4M$-22.1M
Net income$19.5M$-72.2M$-36.4M$-33.6M$-22.2M
Diluted EPS$0.54$-2.12$-1.13$-1.07$-0.79

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$70.5M$44.0M$121.0M$188.4M$224.1M
Current assets$144.6M$103.1M$173.8M$215.6M$252.9M
Total assets$190.1M$159.5M$203.0M$242.6M$260.9M
Current liabilities$34.1M$25.1M$22.5M$19.2M$14.8M
Long-term debt$15.0M$15.0M
Total liabilities$46.4M$44.9M$37.5M$52.0M$46.3M
Total equity$143.7M$114.6M$165.5M$190.6M$214.6M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$-23.7M$-30.2M$-25.1M$-20.9M$-29.1M
Capital expenditure$955,000$602,000$2.0M$2.0M$737,000
Free cash flow$-24.6M$-30.8M$-27.1M$-23.0M$-29.8M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$16.1M23.3%$-11.9M$-0.32
Q1 FY2026$13.4M13.6%$-12.0M$-0.32
Q4 FY2025$17.4M21.2%$4.2M$0.12
Q3 FY2025$14.0M-3.5%$-15.0M$-0.41
Q2 FY2025$13.0M13.7%$-13.3M$-0.37
Q1 FY2025$11.8M58.7%$43.6M$1.23
Q4 FY2024$14.3M-0.1%$-19.4M$-0.56
Q3 FY2024$14.5M1.6%$-29.3M$-0.84

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorHealthcare
SIC industryLaboratory Analytical Instruments
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2012
SEC CIK1555279

Selected SEC filings

10-Q2026-08-11
View on EDGAR →
10-Q2026-05-06
View on EDGAR →
8-K2026-08-11
View on EDGAR →
8-K2026-07-08
View on EDGAR →
8-K2026-06-12
View on EDGAR →
8-K2026-05-06
View on EDGAR →

Largest Healthcare peers

All Healthcare companies →

Monitor MASS

Get an alert when 908 Devices files something material, see which superinvestors own it, and ask its filings a question with cited answers.

Monitor MASS free

Includes one free filing-grounded research answer. Or check your whole portfolio, no account needed.

Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.