908 Devices Reports Narrower Quarterly Loss As Handheld Devices Boost Q4 Sales

• 908 Devices Inc's (NASDAQ:MASS) Q4 FY21 revenue increased 177% Y/Y to $15.8 million, beating the consensus of $15.11 million.
• The increase was primarily driven by handheld revenue that increased 262%, mainly related to shipments to the US Army under the multi-year purchase order. 
• Desktop revenue grew 53% Y/Y because of increased device sales and recurring revenue.
• The install base grew to 1,935 placements, with 221 devices placed in Q4 2021, driven primarily by the continued adoption of handheld devices.
• Gross profit margin improved to 58% from 49% a year ago, driven by the increase in device sales and the volume leverage across the fixed infrastructure.
• The Company posted an operating loss of $(3.53) million, compared to $(3.89) million a year ago.
• 908 Devices' Q4 EPS loss improved from $(1.48) to $(0.12), beating the consensus of $(0.18).
• Guidance: 908 Devices expects FY22 sales of $52 million - $55 million, representing a Y/Y growth of 23% - 30%, compared to the consensus of $53.48 million.
• Price Action: MASS shares closed 5.53% higher at $16.40 during after-hours trading on Monday.