Filing Flows › 908 Devices (MASS) › Q1 2025
908 Devices (MASS) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 13, 2025
908 Devices (MASS) reported revenue of $11.8M for the first quarter 2025 (Q1 2025), +59% from a year earlier and -37% from the quarter before. Operating margin was -93.6%, net earnings $43.6M (370.2% of revenue).
908 Devices, Q1 2025: revenue $11.8M (+59% year over year), operating margin -93.6%, net earnings $43.6M, operating cash flow −$15.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.8M | -37% | +59% |
| Operating profit | −$11.0M | — | — |
| Net earnings | $43.6M | — | — |
| Operating cash flow | −$15.0M | — | — |
What changed
Revenue was $11.8M in Q1 2025, up 59% year over year and down 37% from the previous quarter. Device sales revenue was the largest line at 63% of revenue. Device sales revenue added $2.8M year over year (up 61%), 65% of the total change.
Gross margin was 47.0%, down 5.3 points from a year earlier. Operating costs exceeded revenue by $11.0M, an operating margin of -93.6%. Operating expenses grew 44% against revenue growth of 59%. The fastest-growing cost line was SG&A (+25%). Net earnings were $43.6M. The effective tax rate was 0.0%. Non-operating items added $54.6M, 125% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$15.0M. Non-cash charges added back $1.3M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items used $62.3M. Capital expenditures of $159K exceeded it, leaving free cash flow of −$15.2M.
Questions
What was 908 Devices' revenue in the first quarter 2025?
908 Devices (MASS) reported revenue of $11.8M for the first quarter 2025 (Q1 2025), +59% from a year earlier and -37% from the quarter before.
Was 908 Devices profitable in the first quarter 2025?
Operating loss was $11.0M (-93.6% of revenue) and net earnings $43.6M.
Source: 908 Devices 10-Q on SEC EDGAR.