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908 Devices Q3 revenue growth beats estimates; hikes forecast

By Reuters News


Overview

  • Handheld chemical analysis tool maker's Q3 revenue rose 35% yr/yr, beating analyst expectations

  • Q3 net loss narrowed and beat analyst estimates

  • Company raised low end of 2026 revenue outlook


Outlook

  • 908 Devices raises 2026 revenue outlook to $68.5 mln-$70.0 mln, up from $68.0 mln-$70.0 mln

  • Company says healthy customer funding is supporting demand as year-end approaches


Result Drivers

  • FTIR PORTFOLIO - Co said Q3 revenue growth was driven by increased product revenue for FTIR devices

  • NIRLab CONTRIBUTION - Addition of NIRLab revenue and shipment of about 100 NIRLab devices supported quarterly results

  • RECURRING REVENUE - Recurring revenue accounted for 27% of total revenue in Q3 as installed base grew 26% yr/yr


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$19 mln

$18.30 mln (6 Analysts)

Q3 Loss Per Share

$0.11

Q3 Net Loss

Beat

$4.60 mln

$7.33 mln (4 Analysts)

Q3 Gross Profit

$10 mln

Q3 Operating Expenses

$15.50 mln


Analyst Coverage

  • The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the advanced medical equipment & technology peer group is "buy."

  • Wall Street's median 12-month price target for 908 Devices Inc. is $13.75, about 19.5% above its November 9 closing price of $11.51


Reuters Recommended Reads

  • Nov 9 - Hyperfine Q3 revenue jumps on higher system sales; net loss narrows

  • Nov 9 - Onto Innovation Q3 revenue beats estimates on broad-based growth

  • Nov 9 - Novanta Q3 results beat estimates on acquisition impact


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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