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908 Devices (MASS) investor relations material

908 Devices Canaccord Genuity’s 45th Annual Growth Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Canaccord Genuity’s 45th Annual Growth Conference summary13 Aug, 2025

Strategic transformation and focus

  • Completed transformation from a broad instrumentation provider to a focused public safety and defense tech company, divesting non-core desktop businesses and streamlining operations around handheld chemical detection devices.

  • Reduced operational footprint by 44% and headcount by 39% year over year, consolidating manufacturing in Connecticut.

  • Expanded product portfolio from one to five handheld devices in the past eight months, targeting critical health, safety, and defense applications.

  • Handheld market TAM estimated at $2.5B by 2027, with handheld revenue growing at a 23% CAGR since IPO.

  • Balance sheet strengthened post-divestiture, with $119M in cash at Q2, supporting new opportunities and growth.

Growth drivers and financial outlook

  • Projecting 13–17% revenue growth this year, accelerating to 20%+ next year, driven by secular tailwinds in opioid crisis response, defense modernization, and border security.

  • On track for adjusted EBITDA profitability in Q4, with mid-to-high 50% adjusted gross margins and further margin expansion expected.

  • Three key catalysts: equipment modernization, launch of next-gen MX device, and DoD AvCAD program, with potential for $10M+ in future revenue.

  • Anticipates full-year profitability in 2026, with continued product expansion and operational efficiencies.

  • Customer concentration reduced, with sales now balanced across state/local, federal, and international accounts.

Product innovation and market positioning

  • Flagship MX908 handheld mass spectrometer has over 2,800 units deployed globally, with a 21% revenue CAGR since 2018.

  • New Viper product launched in July, a three-in-one handheld analyzer for customs and border agencies, combining FTIR and Raman spectroscopy with proprietary algorithms.

  • Explorer device, top seller in Q2, measures 5,000+ volatile organic compounds, widely used by firefighters and emergency responders.

  • Devices integrated with drones, UAVs, and ground robots, expanding into autonomous and remote applications.

  • Competitive edge includes unique handheld mass spec, advanced detection capabilities, and 24/7 customer support.

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Frequently asked questions

908 Devices Inc develops and manufactures analytical devices and solutions for chemical and biochemical analysis. The company offers handheld and desktop mass spectrometry-based instruments used in life sciences research, bioprocessing, forensics, and field applications. Its technologies are designed to provide real-time data and simplify complex workflows. 908 Devices Inc is headquartered in Boston, Massachusetts, and its shares are listed on the NASDAQ.

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