By Katherine Hamilton
908 Devices stock climbed after the company said its preliminary revenue for the fourth quarter and full year had risen.
The shares rose 21% to $2.39 after markets closed Tuesday. They are down 75% over the past 12 months.
Preliminary revenue for the fourth quarter of 2024 is expected to be $17.2 million, up from $14.4 million in the same period of 2023. That would be a roughly 20% increase year over year.
For the full year, revenue is expected to be $58 million, up from $50.2 million in 2023. Revenue from RedWave Technology, which 908 acquired in April, is anticipated to meet the post-acquisition revenue target of $11 million.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
January 14, 2025 17:41 ET (22:41 GMT)
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