908 Devices Inc. · NASDAQ:MASS
908 Devices — Canaccord Genuity 45th Annual Growth Conference 2025
22 slides from 908 Devices's conference presentation, Aug 13, 2025
Slide 1: Detect. Defend. 2.0.
Detect. Defend. 2.0. AUGUST 2025
Slide 2: Forward looking statements / Non-GAAP financial measures
Forward looking statements / Non-GAAP financial measures This presentation and the accompanying oral presentation (this “presentation”) contain forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securit
Slide 3: Launch of '2.0'
Launch of ‘2.0’ Sharpened focus, strengthened financials, and accelerated profitability 1 2 Focused on Growth Market Positioned for Acceleration Shifted focus to higher-growth Backed by secular tailwinds in opioid handheld markets, targeting public crisis response, defense budgets, and health, safet
Slide 4: Unrivaled Handheld Portfolio & Opportunity
Unrivaled Handheld Portfolio & Opportunity Targeting high-conviction growth opportunities 1 2 3 Unprecedented opportunity A comprehensive set of Secured balance sheet for advanced chemical products to fully address unlocks future market detection in the field opportunity potential Total Addressable
Slide 5: Addressing Global Threats to Public Health & Safety
Addressing Global Threats to Public Health & Safety Preventable Poisonings Cancer Causing Global Security Concerns Expanding Opioid Proliferation of Toxic Mixed with Rising Global Tensions, & Illicit Drug Crisis Industrial Materials Access & Availability • Over 100,000 overdoses in 2023, • Consumer
Slide 6: Public Safety & Defense Spending is Robust & Growing
Public Safety & Defense Spending is Robust & Growing United States and Globally INCREASED U.S. FEDERAL FUNDING COPS, BYRNE-JAG, DEPARTMENT OF FIREFIGHTER ASSISTANCE, HOMELAND PRIORTITIES IN Increasing Global Spend URBAN AREA SECURITY SECURITY THE FY26 “ONE BIG B E A U T I F U L B I L L” In June, NAT
Slide 7: Comprehensive Portfolio
Comprehensive Portfolio Making the invisible VISIBLE and the unknown KNOWN 908D Capabilities are Unmatched Legacy Accessible & Exceptional coverage - 100’s of trace analytes, 1000’s No full suite available, no other Modern Suite of of VOC gases, 20,000+ bulk compounds. handheld mass spec, Trade-off
Slide 8: Our Frontline Fire & Hazmat Customers
Fire Frontline Our & HazmatCustomers Fire / Hazmat, Law Enforcement, Federal & Military 3,300+ Devices 600+ Accounts 15,000+ Trained Users 55 Countries 8
Slide 9: VipIR
3-in-1 Chemical analyzer Smart Spectral Processing integrates FTIR & Raman spectral data Rapid ID of bulk solids & liquids Includes narcotics, explosives, and toxic chemicals Single, intuitive confirmatory workflow Analysis of complex or mixed substances from just one sample Always connected Fast da
Slide 10: Market Landscape
Market Landscape LOW TECH ADVANC ED C HEMICAL D ET ECT IO N SENSORS BULK UNKNOWN ID HIGH FIDELITY TRACE NO ID Life Science tools & NON-SPECIFIC RESPONSE 10,000 – 20,000 COMPOUNDS 150-300 COMPOUNDS analytical instrument $ 4 5 K-1 1 0 K $ 7 5 K-1 2 0 K $2-2,500 companies are main participants in the a
Slide 11: An Innovation Leader
An Innovation Leader Differentiated Products that are Poised for Growth GROWTH CATALYST #3 U.S. Department of Defense AVCAD program in partnership with Smiths Detection GROWTH CATALYST #2 NE XT PH AS E OF AVC AD LAUNC H OF NE XT G E N MX908 Transition to full rate production GROWTH CATALYST #1 Gener
Slide 12: Our Strategic Transformation
Our Strategic Transformation 1 YE 2023 2,422 Devices $38.2M 2023 52% 2023 -$30M 2023 $146M YE 2023 12
Slide 13: Our Strategic Transformation
Our Strategic Transformation 1 4 2 Y0 E 2 32- 0 220 23 4 2025* +35% INCREASE >3,300 @ Q2 +40% INCREASE $54M - $56M* +13 to 17% YoY Mid-High 50% Range 2025 IMPROVED + Adj. EBITDA by Q4 2025 SECURED $110M+ YE 2025 * AS OF 8/5/25 13
Slide 14: Our Strategic Transformation
Our Strategic Transformation 1 4 6 YE 2023 2025* 2026 & BEYOND MASSIVE OPPORTUNITY 20,000+ Device Opportunity ACCELERATION 20%+ Growth w/ 3 Catalysts IMPROVING YoY PROFITABLE Cash Flow Positive $110M+ * AS OF 8/5/25 14
Slide 15: Our Strategic Transformation
Our Strategic Transformation IPO 2020 2027 $1.5B $2.5B TAM TAM 908 Devices “2.0” 1 4 6 YE 2023 2025* 2026 & BEYOND Reduced Customer Concentration Higher Base + Accelerated Growth IMPROVING YoY Stronger Margins Improving OPEX Productivity Profitable w/ Unlimited Runway * AS OF 8/5/25 15
Slide 16: Strong First Half
STRONG FIRST HALF Q2 2025 REVENUE $13.0M from continuing operations Financial ↳ +14% YoY, exceeding internal expectations ↳ Handheld product & service revenue: $12.5M, +13% YoY Highlights RECURRING REVENUE $4.7M ↳ +28% YoY, representing 36% of total revenue ADJ. GROSS MARGIN 56%, tracking to full ye
Slide 17: Launch of '2.0'
Launch of ‘2.0’ Sharpened focus, strengthened financials, and accelerated profitability 1 2 Focused on Growth Market Positioned for Acceleration Shifted focus to higher-growth Backed by secular tailwinds in opioid handheld markets, targeting public crisis response, defense budgets, and health, safet
Slide 18: Detect. Defend. 2.0.
£ (@) Oo ~s Detect. Defend. 2.0. 7<~ 908devices CONFIDENCE dX 908devices | 1s
Slide 19: Historical – As Reported: Reconciliation from Gross Profit (GAAP)
Historical – TWELVE MONTHS ENDED (in thousands) 2023 As Reported: Gross Profit (GAAP) $25,322 Intangible amortization 428 Reconciliation Acquisition and integration costs - from Gross Restructuring - Stock-based compensation 577 Profit (GAAP) Adjusted Gross Profit (Non-GAAP) $26,327 Gross Margin Per
Slide 20: Historical – As Reported: Reconciliation from Net Loss (GAAP)
TWELVE MONTHS ENDED Historical – (in thousands) 2023 As Reported: Net Loss (GAAP) Adjustments: $(36,399) Other income, net (6,198) Reconciliation Benefit for income taxes (211) from Net Loss Depreciation Intangible amortization 1,466 877 (GAAP) Goodwill impairment - Acquisition and integration costs
Slide 21: Reconciliation from Gross Profit (GAAP)
THREE MONTHS ENDED (in thousands) Reconciliation 2024 2025 from Gross Mar 31 June 30 Sept 30 Dec 31 Mar 31 June 30 Sept 30 Dec 31 Profit (GAAP) Gross Profit (GAAP) $3,887 $6,162 $5,541 $6,373 Intangible amortization - 423 635 634 Acquisition and integration costs - - 50 - – to – Restructuring Stock-
Slide 22: Reconciliation from Net Loss (GAAP)
THREE MONTHS ENDED (in thousands) Reconciliation 2024 2025 Mar 31 June 30 Sept 30 Dec 31 Mar 31 June 30 Sept 30 Dec 31 from Net Loss Net Loss (GAAP) $(5,895) $(7,573) $(9,838) $(12,908) (GAAP) Adjustments: Other income, net (1,716) (966) (1,188) (2,324) Benefit for income taxes - - - 71 – to – Depre
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