AcquisitionsMay 6, 2026, 07:41 AM
908 Devices Acquires NIRLAB for $15M; Q1 Revenue +14%; Raises 2026 Outlook
AI Summary
908 Devices Inc. completed the acquisition of NIRLAB SA, a Swiss developer of near-infrared spectroscopy solutions for narcotics identification, for $15 million in cash and stock, with an additional earn-out of up to $8 million. This strategic move expands 908 Devices' drug detection capabilities and recurring revenue opportunities. Concurrently, the company reported strong first-quarter 2026 financial results, with revenue increasing 14% year-over-year to $13.4 million and adjusted gross margin improving to 57%. Following these results and the acquisition, 908 Devices raised its full-year 2026 revenue guidance to $67.0 million - $70.0 million.
Key Highlights
- Acquired NIRLAB SA for $15 million ($13M cash, $2M stock) plus up to $8M earn-out consideration.
- Q1 2026 revenue increased 14% year-over-year to $13.4 million.
- Adjusted gross margin improved to 57% in Q1 2026, up 290 basis points from prior year.
- Recurring revenue was $4.0 million, representing 30% of total Q1 revenue.
- Net loss from continuing operations was $12.0 million for Q1 2026.
- Adjusted EBITDA loss improved to $2.5 million in Q1 2026 from $4.6 million in Q1 2025.
- Ended Q1 2026 with a strong cash position of $111.7 million.
- Raised full-year 2026 revenue guidance to $67.0 million - $70.0 million (19%-25% growth).