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908 Devices (MASS) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 11, 2026 · 908 Devices (MASS) Q2 2026 earnings results →
Q2 2026 Revenue up 23% year over year to $16.1M · 74¢ of every $1 of revenue lost · operating margin -79.7%
908 Devices made $16.1M in Q2 2026 (+23% Y/Y): Device sales revenue $11.0M, Recurring revenue $4.9M, Contract revenue $104K. Operating margin -79.7%, net loss $11.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 11, 2026.
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What changed this quarter
Revenue was $16.1M in Q2 2026, up 23% year over year and up 20% from the previous quarter. Device sales revenue was the largest line at 69% of revenue. Device sales revenue added $2.7M year over year (up 33%), 90% of the total change.
Gross margin was 51.9%, up 3.0 points from Q2 2025. Operating costs exceeded revenue by $12.8M, an operating margin of -79.7%. Operating expenses fell 2% while revenue rose 23%. The quarter ended with a net loss of $11.9M, narrower than the previous quarter's $12.0M loss.
Operating cash flow was $3.2M. Non-cash charges added back $1.4M of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items added $11.4M. Capital expenditures of $162K left free cash flow of $3.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 11, 2026 | $16.1M | +23% | -79.7% | −$11.9M | $3.2M |
| Q1 2026 | 10-Q | May 6, 2026 | $13.4M | +14% | -96.3% | −$12.0M | $1.2M |
| Q4 2025 | 10-K | Mar 9, 2026 | $17.4M | +21% | 17.8% | $4.2M | $1.3M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $14.0M | -4% | -116.6% | −$15.0M | −$4.2M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $13.0M | +14% | -116.3% | −$13.3M | −$5.8M |
| Q1 2025 | 10-Q | May 13, 2025 | $11.8M | +59% | -93.6% | $43.6M | −$15.0M |
| Q4 2024 | 10-K | Mar 7, 2025 | $18.8M | +31% | -107.6% | −$19.4M | −$2.2M |
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About 908 Devices
We are making chemical analysis simple, smart and speedy with our purpose-built handheld devices that empower people to take swift action in life-altering applications. We have developed an innovative suite of purpose-built handheld devices for point-of-need chemical analysis. Leveraging mass spectrometry, or Mass Spec, and optical spectroscopy, analytics and machine learning technologies, we make devices that are significantly smaller and more accessible than conventional laboratory instruments. Our devices are used at the point-of-need to interrogate unknown and invisible materials and provide quick, actionable answers to directly address some of the most critical problems in vital health, safety and defense tech applications, addressing the fentanyl and illicit drug crisis, toxic carcinogen exposure, and global security threats.
In its own words, from its 10-K, filed Mar 9, 2026.
908 Devices against its Laboratory Analytical Instruments peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +23% against the peers' median +5%. Operating margin: -79.7% against the peers' median 8.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MASS 908 Devices | Q2 2026 | $16.1M | +23% | -79.7% |
| A Agilent Technologies | Q3 FY26 | $1.9B | +8% | 23.6% |
| WAT Waters | Q3 2026 | $1.8B | +121% | 7.2% |
| AVTR Avantor | Q3 2026 | $1.7B | +5% | 8.2% |
| ILMN Illumina | Q3 2026 | $1.1B | +4% | 27.0% |
| MTD Mettler Toledo International | Q3 2026 | $1.1B | +6% | 27.4% |
| BRKR Bruker | Q3 2026 | $874M | +2% | -10.4% |
| RVTY Revvity | Q3 2026 | $729M | +4% | 10.6% |
| BIO Bio-Rad Laboratories | Q3 2026 | $656M | +0.5% | -7.6% |
Source: 908 Devices 10-Q on SEC EDGAR · CIK 1555279 · Laboratory Analytical Instruments
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results