Chemical analysis tools maker 908 Devices Q2 revenue beats estimates, raises FY forecast
Overview
908 Devices Q2 revenue grows 14% yr/yr, beating analyst expectations
Company raises 2025 revenue outlook, indicating confidence in future growth
Net loss of $13.3 mln in Q2, following restructuring and strategic acquisitions
Outlook
908 Devices raises 2025 revenue outlook to $54 mln-$56 mln, for 13%-17% growth
Result Drivers
HANDHELD PRODUCT GROWTH - Revenue increase driven by growth in handheld product and service revenue
DEVICE LAUNCHES - Record placements of XplorIR and launch of VipIR contributed to revenue growth
RESTRUCTURING IMPACT - Manufacturing consolidation and restructuring efforts strengthened financial profile
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $13 mln | $12.20 mln (4 Analysts) |
Q2 EPS | -$0.37 | ||
Q2 Net Income | Miss | -$13.30 mln | -$5.79 mln (3 Analysts) |
Q2 Gross Profit | $6.40 mln | ||
Q2 Operating Expenses | $21.50 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "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 $6.50, about 0.3% below its August 4 closing price of $6.52
Press Release:
