MASS Nasdaq Laboratory Analytical Instruments Financials FY2020βFY2025
908 Devices Inc. had $56.2M of revenue in fiscal 2025, up 17.7% on the year before. Over five years, revenue changed +15.9% a year on average.
Last close Β· Oct 23, 2026
$11.49
1.2%Hi! I read 908 Devices Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+17.7%
Yes. Sales grew 17.7% last year.
Does it make a profit?
34.7%
Yes. It keeps 34.7% of every sale as profit.
Does profit turn into cash?
β43.9%
No. It spent more cash than it brought in.
How healthy are the accounts?
3 / 8
Weak. It passes 3 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· 908 Devices Inc. had $56.2M of revenue in fiscal 2025, up 17.7% on the year before. Over five years, revenue changed +15.9% a year on average. Its operating margin was β70.1%, up 50.1Β pts: of every 100 in sales, about β70 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· 908 Devices Inc. made $19.5M of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$24.6M in fiscal 2025, β43.9% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $10.0M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$10.0M
6 insiders
Of sales under plans
52%
$5.2M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 7, 2026 | Christopher D. BrownDirector | Sold plan | 30,000 | $11.89 | $0.4M | Form 4 |
| Oct 6, 2026 | Joseph H. Griffith IVChief Financial Officer | Sold plan | 5,000 | $13.03 | $0.1M | Form 4 |
| Sep 29, 2026 | AWM Investment Company, Inc.10% owner | Sold | 18,000 | $11.52 | $0.2M | Form 4 |
| Sep 24, 2026 | AWM Investment Company, Inc.10% owner | Sold | 24,000 | $11.36 | $0.3M | Form 4 |
| Sep 23, 2026 | AWM Investment Company, Inc.10% owner | Sold | 1,000 | $11.25 | $0.0M | Form 4 |
| Sep 17, 2026 | John KennewegSVP, Sales & Product Marketing | Sold plan | 5,257 | $10.22 | $0.1M | Form 4 |
| Sep 16, 2026 | John KennewegSVP, Sales & Product Marketing | Sold plan | 21,399 | $10.11 | $0.2M | Form 4 |
| Sep 15, 2026 | John KennewegSVP, Sales & Product Marketing | Sold plan | 1,000 | $10.00 | $0.0M | Form 4 |
| Sep 2, 2026 | Christopher D. BrownDirector | Sold plan | 30,000 | $10.58 | $0.3M | Form 4 |
| Aug 25, 2026 | Joseph H. Griffith IVChief Financial Officer | Sold plan | 11,459 | $10.95 | $0.1M | Form 4 |
| Aug 21, 2026 | AWM Investment Company, Inc.10% owner | Sold | 41,578 | $10.61 | $0.4M | Form 4 |
| Aug 20, 2026 | AWM Investment Company, Inc.10% owner | Sold | 8,422 | $10.52 | $0.1M | Form 4 |
| Aug 17, 2026 | Kevin J. KnoppPresident and CEO, Director | Sold plan | 20,000 | $10.35 | $0.2M | Form 4 |
| Aug 13, 2026 | Kevin J. KnoppPresident and CEO, Director | Sold plan | 7,622 | $10.06 | $0.1M | Form 4 |
| Aug 12, 2026 | Kevin J. KnoppPresident and CEO, Director | Sold plan | 2,747 | $10.07 | $0.0M | Form 4 |
| Aug 11, 2026 | Kevin J. KnoppPresident and CEO, Director | Sold plan | 145,918 | $9.90 | $1.4M | Form 4 |
| Aug 11, 2026 | Christopher D. BrownDirector | Sold plan | 8,358 | $9.23 | $0.1M | Form 4 |
| Aug 10, 2026 | Kevin J. KnoppPresident and CEO, Director | Sold plan | 348 | $9.06 | $0.0M | Form 4 |
| Aug 10, 2026 | Christopher D. BrownDirector | Sold plan | 9,442 | $9.03 | $0.1M | Form 4 |
| Aug 5, 2026 | Christopher D. BrownDirector | Sold plan | 20,000 | $8.49 | $0.2M | Form 4 |
| Aug 4, 2026 | AWM Investment Company, Inc.10% owner | Sold | 50,000 | $8.36 | $0.4M | Form 4 |
| Jul 2, 2026 | Kevin J. KnoppPresident and CEO, Director | Sold plan | 222 | $9.07 | $0.0M | Form 4 |
| Jul 2, 2026 | Christopher D. BrownDirector | Sold plan | 2,200 | $9.02 | $0.0M | Form 4 |
| Jun 30, 2026 | Christopher D. BrownDirector | Sold plan | 20,000 | $8.84 | $0.2M | Form 4 |
| Jun 26, 2026 | Kevin J. KnoppPresident and CEO, Director | Sold plan | 2,798 | $9.09 | $0.0M | Form 4 |
| Jun 25, 2026 | Kevin J. KnoppPresident and CEO, Director | Sold plan | 16,388 | $9.10 | $0.1M | Form 4 |
| Jun 24, 2026 | Kevin J. KnoppPresident and CEO, Director | Sold plan | 40,535 | $9.14 | $0.4M | Form 4 |
| Jun 23, 2026 | Kevin J. KnoppPresident and CEO, Director | Sold plan | 3,422 | $9.06 | $0.0M | Form 4 |
| Jun 23, 2026 | Christopher D. BrownDirector | Sold plan | 9,900 | $9.04 | $0.1M | Form 4 |
| Jun 23, 2026 | AWM Investment Company, Inc.10% owner | Sold | 3,050 | $9.00 | $0.0M | Form 4 |
| Jun 22, 2026 | AWM Investment Company, Inc.10% owner | Sold | 4,668 | $8.99 | $0.0M | Form 4 |
| Jun 4, 2026 | Christopher D. BrownDirector | Sold plan | 100 | $9.00 | $0.0M | Form 4 |
| Jun 4, 2026 | AWM Investment Company, Inc.10% owner | Sold | 39,782 | $8.97 | $0.4M | Form 4 |
| Jun 3, 2026 | Christopher D. BrownDirector | Sold plan | 20,000 | $8.73 | $0.2M | Form 4 |
| Jun 2, 2026 | AWM Investment Company, Inc.10% owner | Sold | 2,500 | $8.95 | $0.0M | Form 4 |
| May 28, 2026 | Christopher D. BrownDirector | Sold plan | 30,000 | $9.00 | $0.3M | Form 4 |
| May 28, 2026 | AWM Investment Company, Inc.10% owner | Sold | 170,442 | $8.66 | $1.5M | Form 4 |
| May 28, 2026 | Joseph H. Griffith IVChief Financial Officer | Sold plan | 6,940 | $9.03 | $0.1M | Form 4 |
| May 27, 2026 | AWM Investment Company, Inc.10% owner | Sold | 16,500 | $8.25 | $0.1M | Form 4 |
| May 11, 2026 | AWM Investment Company, Inc.10% owner | Sold | 5,000 | $8.25 | $0.0M | Form 4 |
| May 8, 2026 | John KennewegSVP, Sales & Product Marketing | Sold | 18,255 | $8.11 | $0.1M | Form 4 |
| May 8, 2026 | AWM Investment Company, Inc.10% owner | Sold | 3,025 | $8.20 | $0.0M | Form 4 |
| May 7, 2026 | AWM Investment Company, Inc.10% owner | Sold | 12,819 | $8.20 | $0.1M | Form 4 |
| May 6, 2026 | Christopher D. BrownDirector | Sold plan | 20,000 | $7.23 | $0.1M | Form 4 |
| May 6, 2026 | AWM Investment Company, Inc.10% owner | Sold | 62,365 | $8.06 | $0.5M | Form 4 |
| May 1, 2026 | John KennewegSVP, Sales & Product Marketing | Sold | 7,787 | $6.83 | $0.1M | Form 4 |
| Apr 10, 2026 | Christopher D. BrownDirector | Sold plan | 17,578 | $7.07 | $0.1M | Form 4 |
| Apr 10, 2026 | Kevin J. McCallionSVP, Products and Production | Sold plan | 2,693 | $7.01 | $0.0M | Form 4 |
| Apr 9, 2026 | Christopher D. BrownDirector | Sold plan | 7,392 | $7.04 | $0.1M | Form 4 |
| Apr 9, 2026 | Kevin J. McCallionSVP, Products and Production | Sold plan | 5,420 | $7.03 | $0.0M | Form 4 |
| Apr 8, 2026 | Christopher D. BrownDirector | Sold plan | 15,030 | $7.05 | $0.1M | Form 4 |
| Apr 8, 2026 | Kevin J. McCallionSVP, Products and Production | Sold plan | 18,580 | $7.05 | $0.1M | Form 4 |
| Mar 2, 2026 | Kevin J. McCallionSVP, Products and Production | Sold plan | 7 | $7.00 | $0.0M | Form 4 |
| Feb 2, 2026 | Kevin J. KnoppPresident and CEO, Director | Sold | 34,764 | $6.18 | $0.2M | Form 4 |
| Feb 2, 2026 | Joseph H. Griffith IVChief Financial Officer | Sold | 23,175 | $6.18 | $0.1M | Form 4 |
| Oct 3, 2025 | Joseph H. Griffith IVChief Financial Officer | Sold plan | 4,292 | $9.05 | $0.0M | Form 4 |
| Oct 2, 2025 | Joseph H. Griffith IVChief Financial Officer | Sold plan | 708 | $9.04 | $0.0M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably 908 Devices Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $224M | $188M | $146M | $69.6M | $113M |
| Debt incl. finance leases | $15.0M | $15.0M | β | β | β |
| Debt / equity | 0.1x | 0.1x | β | β | β |
| Interest coverage | β45.4x | β274.3x | β212.7x | β | β |
| Current ratio | 17.0x | 11.2x | 7.7x | 4.1x | 4.2x |
| Quick ratio | 16.5x | 10.6x | 7.0x | 3.7x | 3.9x |
| Total assets | $261M | $243M | $203M | $159M | $190M |
| Total liabilities | $46.3M | $52.0M | $37.5M | $44.9M | $46.4M |
| Shareholders' equity | $215M | $191M | $165M | $115M | $144M |
| Net debt (β = net cash) | β$209M | β$173M | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· 908 Devices Inc. passes 3 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 9 | 3 / 9 | 2 / 8 | 3 / 8 | 3 / 8 |
| Accruals ratio | β9.5% | 3.1% | β5.0% | β5.1% | β23.2% | 24.7% |
| Altman Z'' | 7.89 | 9.03 | 6.38 | 5.37 | β1.50 | 1.84 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | $26.9M | $42.2M | $46.9M | $50.2M | $47.7M | $56.2M |
| Gross profit | $14.9M | $23.2M | $26.0M | $25.3M | $24.5M | $28.4M |
| Research and development | $8.2M | $13.1M | $17.5M | $21.9M | $15.0M | $15.6M |
| Operating income | β$5.8M | β$22.1M | β$35.4M | β$42.8M | β$57.4M | β$39.4M |
| Interest expense | $1.0M | $0.5M | $0.1M | $0.2M | β | β |
| Pretax income | β | β | β$33.6M | β$36.6M | β$53.1M | β$33.3M |
| Income tax | β | β | $0.0M | β$0.2M | β$0.3M | β$0.1M |
| Net income | β$12.8M | β$22.2M | β$33.6M | β$36.4M | β$72.2M | $19.5M |
| Net income to common | β$12.9M | β$22.2M | β | β | β$72.2M | $19.5M |
| Diluted EPS | β$2.35 | β$0.79 | β$1.07 | β$1.13 | β$2.12 | $0.54 |
| Diluted shares | 0.01B | 0.03B | 0.03B | 0.03B | 0.03B | 0.04B |
| Cash flow | ||||||
| Cash from operations | $4.1M | β$29.1M | β$20.9M | β$25.1M | β$30.2M | β$23.7M |
| Capital expenditure | $0.0M | $0.7M | $2.0M | $2.0M | $0.6M | $1.0M |
| Free cash flow | $4.1M | β$29.8M | β$23.0M | β$27.1M | β$30.8M | β$24.6M |
| Depreciation and amortization | $0.8M | $0.9M | $1.6M | $2.4M | $4.7M | $4.5M |
| Stock-based compensation | $0.5M | $2.5M | $7.2M | $9.8M | $11.8M | $9.8M |
| Acquisitions | β | β | $13.8M | β | β | β |
| Balance sheet | ||||||
| Cash and short-term investments | $159M | $224M | $188M | $146M | $69.6M | $113M |
| Total debt | $14.8M | $15.0M | $15.0M | β | β | β |
| Current assets | $171M | $253M | $216M | $174M | $103M | $145M |
| Current liabilities | $10.8M | $14.8M | $19.2M | $22.5M | $25.1M | $34.1M |
| Inventory | $4.6M | $7.9M | $12.5M | $14.9M | $10.9M | $13.0M |
| Property and equipment, net | $0.9M | $1.6M | $3.1M | $3.3M | $1.6M | $4.2M |
| Goodwill | β | β | $10.1M | $10.4M | $0.0M | $0.0M |
| Intangible assets | β | β | $8.5M | $7.9M | $38.7M | $36.4M |
| Total assets | $179M | $261M | $243M | $203M | $159M | $190M |
| Total liabilities | $39.8M | $46.3M | $52.0M | $37.5M | $44.9M | $46.4M |
| Preferred stock | $0.0M | β | β | β | β | β |
| Shareholders' equity | $139M | $215M | $191M | $165M | $115M | $144M |
| Margins | ||||||
| Gross margin | 55.5% | 55.0% | 55.5% | 50.4% | 51.3% | 50.6% |
| Operating margin | β21.6% | β52.3% | β75.5% | β85.1% | β120.2% | β70.1% |
| EBITDA margin | β18.5% | β50.1% | β72.1% | β80.4% | β110.4% | β62.2% |
| Net margin | β47.7% | β52.5% | β71.6% | β72.5% | β151.2% | 34.7% |
| FCF margin | 15.3% | β70.7% | β49.0% | β54.0% | β64.6% | β43.9% |
| Returns | ||||||
| Return on capital | β | β315.2% | β162.7% | β | β | β |
| Return on capital employed | β3.5% | β9.0% | β15.8% | β23.7% | β42.7% | β25.3% |
| Return on equity | β9.2% | β12.5% | β16.6% | β20.4% | β51.6% | 15.1% |
| Return on assets | β7.2% | β10.1% | β13.3% | β16.3% | β39.8% | 11.2% |
| Return on tangible equity | β9.3% | β10.3% | β19.5% | β24.7% | β95.1% | 18.2% |
| Growth | ||||||
| Revenue growth | β | 56.9% | 11.0% | 7.2% | β4.9% | 17.7% |
| FCF growth | β | β823.4% | β | β | β | β |
| Share count change | β | 409.7% | 12.6% | 2.4% | 5.7% | 5.3% |
| Financial health | ||||||
| Debt / equity | 0.1x | 0.1x | 0.1x | β | β | β |
| Interest coverage | β6.0x | β45.4x | β274.3x | β212.7x | β | β |
| Current ratio | 15.8x | 17.0x | 11.2x | 7.7x | 4.1x | 4.2x |
| Quick ratio | 15.4x | 16.5x | 10.6x | 7.0x | 3.7x | 3.9x |
| Capital allocation | ||||||
| Capex / revenue | 0.0% | 1.7% | 4.4% | 4.1% | 1.3% | 1.7% |
| Stock comp / revenue | 2.0% | 5.9% | 15.4% | 19.5% | 24.6% | 17.5% |
| Quality scores | ||||||
| Piotroski F-score | β | 3.0 | 3.0 | 2.0 | 3.0 | 3.0 |
| Altman Z'' | 7.9 | 9.0 | 6.4 | 5.4 | β1.5 | 1.8 |
| Accruals ratio | β9.5% | 3.1% | β5.0% | β5.1% | β23.2% | 24.7% |
Source: SEC EDGAR XBRL filings (CIK 0001555279). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
