Press Release: 908 Devices Reports Third Quarter 2024 Financial Results and Updates 2024 Revenue Outlook

Dow Jones

2024-11-12

Reconciliation from Net Loss (GAAP) to Adjusted EBITDA (Non-GAAP):

 
                    Three Months Ended     Nine Months Ended 
                       September 30,         September 30, 
                    -------------------  ---------------------- 
                      2024       2023      2024        2023 
                    ---------  --------  ---------  ----------- 
 
Net Loss (GAAP)     $(29,295)  $(7,093)  $(52,760)  $(28,970) 
 
Adjustments: 
   Other income, 
    net                 (850)   (1,909)    (3,494)    (3,866) 
   Benefit for 
    income taxes         (72)      (87)      (211)      (209) 
   Depreciation          510       348      1,428      1,086 
   Intangible 
    amortization         930       221      1,843        658 
   Goodwill 
    impairment        30,523         -     30,523          - 
   Acquisition and 
    integration 
    costs                106         -      2,330          - 
   Restructuring         171         -        171        524 
   Stock-based 
    compensation       3,199     2,704      8,938      7,448 
   Change in fair 
    value of 
    contingent 
    consideration    (12,141)      104    (12,141)       335 
                     -------    ------    -------    ------- 
 
Adjusted EBITDA 
 (Non-GAAP)         $ (6,919)  $(5,712)  $(23,373)  $(22,994) 
                     -------    ------    -------    -------

View source version on businesswire.com: https://www.businesswire.com/news/home/20241112074859/en/

 
    CONTACT:    Investor Contact:

Carrie Mendivil

IR@908devices.com

Media Contact:

Barbara Russo

brusso@908devices.com

(END) Dow Jones Newswires

November 12, 2024 07:00 ET (12:00 GMT)

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Knopp, CEO and Co-founder. \"Despite near-term headwinds, we see several growth drivers emerging that should propel us to the next level of scale, efficiency, and growth.\". Revenue of $16.8 million for the third quarter 2024, increasing 17%. Handheld revenue was $14.0 million, increasing 19% year over. \"Reflecting on our first six months of ownership of RedWave Technology and observing shifts across our markets, it's increasingly clear that a unified platform enables us to increase cost efficiency and expand gross margins across our entire prod","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MASS":"908 Devices Inc."},"translate_title":"新闻稿：908 Devices报告2024年第三季度财务业绩并更新2024年收入前景","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MASS":0.9},"content_text":"Reconciliation from Net Loss (GAAP) to Adjusted EBITDA (Non-GAAP): \n\n\n \n                    Three Months Ended     Nine Months Ended \n                       September 30,         September 30, \n                    -------------------  ---------------------- \n                      2024       2023      2024        2023 \n                    ---------  --------  ---------  ----------- \n \nNet Loss (GAAP)     $(29,295)  $(7,093)  $(52,760)  $(28,970) \n \nAdjustments: \n   Other income, \n    net                 (850)   (1,909)    (3,494)    (3,866) \n   Benefit for \n    income taxes         (72)      (87)      (211)      (209) \n   Depreciation          510       348      1,428      1,086 \n   Intangible \n    amortization         930       221      1,843        658 \n   Goodwill \n    impairment        30,523         -     30,523          - \n   Acquisition and \n    integration \n    costs                106         -      2,330          - \n   Restructuring         171         -        171        524 \n   Stock-based \n    compensation       3,199     2,704      8,938      7,448 \n   Change in fair \n    value of \n    contingent \n    consideration    (12,141)      104    (12,141)       335 \n                     -------    ------    -------    ------- \n \nAdjusted EBITDA \n (Non-GAAP)         $ (6,919)  $(5,712)  $(23,373)  $(22,994) \n                     -------    ------    -------    ------- \n \n \n\n\n     View source version on businesswire.com: https://www.businesswire.com/news/home/20241112074859/en/ \n\n\n \n    CONTACT:    Investor Contact: \n\n\n     Carrie Mendivil \n\n\n     IR@908devices.com \n\n\n     Media Contact: \n\n\n     Barbara Russo \n\n\n     brusso@908devices.com \n\n\n \n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 12, 2024 07:00 ET (12:00 GMT)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}