908 Devices Inc. · NASDAQ:MASS
908 Devices — Q2 2026 Earnings Presentation
18 slides from 908 Devices's earnings presentation, Aug 11, 2026
Slide 1: Analysis at the speed of life
Analysis at the speed of life AUGUST 2026
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: Strategic Transformation
Strategic Transformation Solid financial foundation, executing to capture growth opportunities Focused on Founded in 2012, IPO in 2020, divested bioprocessing desktop portfolio in 2025. Focused on handheld chemical analysis tools, targeting public health, Growth Market safety, and CBRNE defense appl
Slide 4: Next-generation analytical tools for point-of-need use in health, safety, and defense
We create next-generation analytical tools for ‘point-of-need’ use in vital health, safety, and defense tech contexts BROAD USE CASES Fentanyl / Corrections Fire / Law Pharma Drugs-of-Abuse & Rehabilitation Enforcement OEM Toxic VOCs / Pesticides Customs / Safety Industrial Cancer Prevention Postal
Slide 5: Our Frontline Customers
Our Frontline Customers Pilot Programs: Accounts Fire / Hazmat, Law Enforcement, Federal & Military 18 Accounts: 1,100+ units* 4,100+ 70+ 700+ Pilot Programs 36 Accounts: 1,300+ units* 18,000+ Devices Countries Accounts Trained Users Enterprise Accounts ongoing potential *as of 12/31/25 5
Slide 6: 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 • UNODC notes cocaine is fastest • U.S. enact
Slide 7: A Complete Solution. Unmatched Support.
A Complete Solution. Unmatched Support. More than hardware – delivering the people, data, and expertise to detect more, faster, with confidence ACCESSIBLE & MODERN SUITE OF DEVICES Exceptional coverage - 100's of trace analytes, 1000's of VOC gases, 20,000+ bulk compounds. Comprehensive - Detection
Slide 8: NIRLab
Integrated hardware & cloud platform Powered by near-infrared (NIR) spectroscopy Detect, ID & quantify common drugs Includes cocaine, heroin, methamphetamine, plus THC & CBD Field-proven, global customer base 100+ active customers, over one million analyses performed High-retention subscription reve
Slide 9: One Platform. End-to-End Law Enforcement Coverage.
One Platform. End-to-End Law Enforcement Coverage. Every Day. Investigations. Specialists. Connected by Data. Built for Outcomes. VIPIR NIRLAB TEAM LEADER + NIRLAB MX 9
Slide 10: A Large, Growing, and Critical Market
MARKET LANDSCAPE A Large, Growing, and Critical Market Analytical instrument companies are key participants in the advanced portion of the chem detection market. • THERMO FISHER SCIENTIFIC • AGILENT • RIGAKU • BRUKER • TELEDYNE-FLIR • OTHERS L E G ACY P L AY E R S M O R E L I M I T E D M O D E R N P
Slide 11: Growth outlook for devices: growth catalysts
9 0 8 D E V I C E S G R O W T H C ATA LY S T S Growth outlook for 2025 2026 2027+ 2027+ 2026+ Integrations w/UGVs, UAVs, robots External Market Dynamics $10M+/yr potential INCREASES IN for full production Next AVCAD Phase* Initial Ramp US DoD program in partnership ~$2-3M 1 US funding to combat w/Sm
Slide 12: Growth & Profitability
Growth & Profitability Revenue from Continuing Operations(1) Compelling Forward Going Financial Profile (3) 2026 Guide Step-change improvement in Adj. EBITDA forecasted for 2026. Healthy cash balance of $101.5M (June 30, 2026) ($M) $68M to $70M supports cross-over trajectory. 75 (As of 8/11/26) 70 6
Slide 13: H1 2026 Financial Metrics
6 months H1 2026 In $M Product 2025 $18.1 2026 $23.7 Financial Metrics Service and Contract $6.7 $5.7 Total Revenue $24.8 $29.5 Growth YoY 19% RECURRING REVENUE Gross Profit $11.9 $15.2 $9.0M Gross Margin % 48% 52% Adjusted Gross Margin % 55% 57% 30% OF TOTAL Operating Expenses $28.8 $28.1 Change in
Slide 14: Analysis at the speed of life
es Qa = a Analysis at the speed of life 7<~ 908devices
Slide 15: Reconciliation from Gross Profit (GAAP)
THREE MONTHS ENDED (in thousands) Reconciliation 2025 2026 from Gross Mar 31 June 30 Sept 30 Dec 31 Mar 31 June 30 Sept 30 Dec 31 Profit (GAAP) Gross Profit (GAAP) $5,541 $6,373 $7,355 $9,154 $6,881 $8,343 Intangible amortization 635 634 635 635 635 734 Acquisition and integration costs 50 - - - - -
Slide 16: Reconciliation from Net Loss (GAAP)
THREE MONTHS ENDED (in thousands) Reconciliation 2025 2026 Mar 31 June 30 Sept 30 Dec 31 Mar 31 June 30 Sept 30 Dec 31 from Net Loss Net Income (Loss) (GAAP) $(9,838) $(12,908) $(14,910) $4,381 $(11,955) $(11,894) (GAAP) Adjustments: Other income, net (1,188) (2,324) (1,443) (1,123) (929) (861) Expe
Slide 17: Reconciliation from Gross Profit (GAAP)
Reconciliation TWELVE MONTHS ENDED (in thousands) from Gross 2024 2025 Profit (GAAP) Gross Profit (GAAP) $24,500 $28,423 Intangible amortization 1,691 2,539 Acquisition and integration costs - 50 – to – Restructuring Stock-based compensation 69 441 288 566 Adjusted Gross Profit (Non-GAAP) $26,701 $3
Slide 18: Reconciliation from Net Loss (GAAP)
TWELVE MONTHS ENDED Reconciliation (in thousands) 2024 2025 from Net Loss Net Loss (GAAP) $(53,140) $(33,277) (GAAP) Adjustments: Other income, net (4,253) (6,078) Benefit for income taxes - (66) – to – Depreciation 1,051 1,294 Intangible amortization 1,898 2,890 Adjusted Goodwill impairment 40,659