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908 Devices cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$3.0M in Q2 2026 · $615K over twelve months

Operating cash flow$3.2M
Capital spending−$162K
Free cash flow+$3.0M
Cash conversion cycle193 days

Analysis

In Q2 2026, 908 Devices generated $3.2M of operating cash flow and spent $162K on capital projects, leaving free cash flow of $3.0M. That is $8.9M more than in Q2 2025 (−$5.9M).

Over the twelve months to Jun 30, 2026, operating cash flow was $1.5M; the largest uses were other financing ($3.4M), capital spending ($876K); besides operations, cash came from other investing ($3.6M), shares issued ($1.7M); the cash balance rose by $2.5M.

Operating cash flow was $3.2M against net income of −$11.9M. The largest differences: prepaid and other assets +$4.1M, payables +$2.6M, stock-based pay +$2.3M.

Its cash conversion cycle was 193 days (receivables 61 + inventory 163 − payables 30).

Free cash flow

908 Devices: free cash flow by quarter908 Devices: free cash flow by quarter−$5.8MQ3 2024−$2.4MQ4 2024−$15.2MQ1 2025−$5.9MQ2 2025−$4.9MQ3 2025$1.3MQ4 2025$1.2MQ1 2026$3.0MQ2 2026
Operating cash flow less capital spending.
908 Devices: operating cash flow against capital spending908 Devices: operating cash flow against capital spendingOperating cash flowCapital spending−$5.6M$156KQ3 2024−$2.2M$190KQ4 2024−$15.0M$159KQ1 2025−$5.8M$122KQ2 2025−$4.2M$680KQ3 2025$1.3M−$6KQ4 2025$1.2M$40KQ1 2026$3.2M$162KQ2 2026
Latest (Q2 2026): Operating cash flow $3.2M, Capital spending $162K.

Capital allocation, year by year

908 Devices: where the cash came from (up) and went (down), by fiscal year908 Devices: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsFY2021: Operating cash flow −$29.1MFY2021: Shares issued $95.6MFY2021: Capital spending −$737K$95.6MFY2021FY2022: Operating cash flow −$20.9MFY2022: Shares issued $1.6MFY2022: Capital spending −$2.0MFY2022: Acquisitions −$13.8M$1.6MFY2022FY2023: Operating cash flow −$25.1MFY2023: Net borrowing −$30.0MFY2023: Shares issued $936KFY2023: Capital spending −$2.0M$936KFY2023FY2024: Operating cash flow −$30.2MFY2024: Shares issued $1.1MFY2024: Capital spending −$602K$1.1MFY2024FY2025: Operating cash flow −$23.7MFY2025: Shares issued $864KFY2025: Asset sales $69.9MFY2025: Capital spending −$955K$70.8MFY2025
Over these 5 years operating cash flow totalled −$129M; the largest uses were operating cash flow ($129M) and net borrowing ($30.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$102M
Debtnone
Net cash$102M

908 Devices funds itself: free cash flow was $615K over the last twelve months, with $102M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

908 Devices: sources (+) and uses (−) of cash, Q2 2026908 Devices: sources (+) and uses (−) of cash, Q2 2026Other investing−$7.2MCash drawn (+) / kept (−)$3.2MOperating cash flow$3.2MShares issued$1.2MOther financing−$217KCapital spending−$162KNot reconciled−$56K
908 Devices: sources (+) and uses (−) of cash, TTM to Q2 2026908 Devices: sources (+) and uses (−) of cash, TTM to Q2 2026Other investing$3.6MOther financing−$3.4MCash drawn (+) / kept (−)−$2.5MShares issued$1.7MOperating cash flow$1.5MCapital spending−$876KExchange rates−$56K

From profit to cash

908 Devices: net income to operating cash flow, Q2 2026908 Devices: net income to operating cash flow, Q2 2026Net income−$11.9MDepreciation & amortization$1.4MStock-based pay$2.3MReceivables−$1.1MInventory−$846KPayables$2.6MDeferred revenue−$32KPrepaid and other assets$4.1MOperating cash flow$3.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20266116330193
Q1 20267118228225
Q4 20255915819198
Q3 20255721337232
Q2 20254619351188
Q1 20256017038193
Q4 20248217220234
Q3 20248824926310

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$3.2M−$162K$1.2M$3.2M$3.0M
Q1 2026$1.2M−$40K$80K$3.0M$1.2M
Q4 2025$1.3M$6K$449K−$7.7M$1.3M
Q3 2025−$4.2M−$680K$27K−$991K−$4.9M
Q2 2025−$5.8M−$122K$376K$17.4M−$5.9M
Q1 2025−$15.0M−$159K$12K−$35.1M−$15.2M
Q4 2024−$2.2M−$190K$595K$993K−$2.4M
Q3 2024−$5.6M−$156K$66K$1.8M−$5.8M

908 Devices: income statement and cash flow

908 Devices, Q2 2026: revenue $16.1M (+23% year over year), operating margin -79.7%. The chart follows the revenue to costs, profit and cash.

908 Devices: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.