908 Devices Inc.

908 Devices Inc. reported a 13.6% increase in total revenue to $13.38 million for the first quarter of 2026, compared to $11.78 million in the prior year. Despite revenue growth, the company's net loss from continuing operations widened to $11.96 million, or $(0.32) per share, from a net loss of $9.84 million, or $(0.28) per share, in Q1 2025. The prior year's net income was significantly boosted by a $53.44 million gain from the divestment of its Desktop Portfolio.

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.

908 Devices Inc. announced its 2026 Annual Meeting of Stockholders will be held virtually on Thursday, June 11, 2026. Stockholders will vote on the election of three Class III directors, the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal year 2026, and advisory votes on named executive officer compensation and the frequency of future compensation votes. The board of directors recommends voting "FOR" all proposals and "1 Year" for the frequency of future advisory votes on executive compensation.