Slide 1: Analysis at the speed of life
Analysis at the speed of life 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: Strategic Transformation Realized
Strategic Transformation Realized Sharpens focus, strengthens financials, and accelerates profitability 1 2 Focus on Growth Market Divested Biopharma Shifted focus to high-growth handheld Sold the desktop portfolio to markets, aligned to secular tailwinds in REPLIGEN for $70M cash. Nearly opioid cri
Slide 4: We create next-generation analytical tools
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 / Customs / Safety Industrial Pesticides Cancer Postal Inspection
Slide 5: Devices At-a-Glance
908 Devices At-a-Glance VALIDATED BROAD CUSTOMER BASE STRONG TECHNOLOGY PLATFORM AND GLOBAL PRESENCE FINANCIAL PROFILE 3,300+ 15,000+ $54M Units Sold Trained Users Revenue LTM as of June 30th 600+ 55+ $119M Accounts Countries Cash as of June 30th Note: all data is for continuing operations only and
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 • Over 100,000 overdoses in 2023, • Consumer
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: 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 Expansive library Over 3
Slide 9: 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 $2-2,500 companies are main participants in the a
Slide 10: An Innovation Leader
An Innovation Leader Differentiated Products that are Poised for Growth GROWTH CATALYST #3 U.S. Department of Defense AVCAD program in partnership with Smiths Detection GROWTH CATALYST #2 NE XT PH AS E OF AVC AD LAUNC H OF NE XT G E N MX908 Transition to full rate production GROWTH CATALYST #1 Gener
Slide 11: Growth & Profitability
Growth & Profitability Revenue from Continuing Operations(1) Compelling Forward Going Financial Profile (3) Projected return to 20%+ with defined catalysts Forecasted Adj. EBITDA positive by Q4, ($M) and FY Cash flow positive in 2026 70 2025 Guide 65 $54M to $56M 60 (As of 8/5/25) 55 $5M 50 $13.8M $
Slide 12: YTD 2025 Financial Metrics
6 months YTD 2025 In $M Product 2024 $13.8 2025 $18.1 Financial Service and Contract $5.1 $6.7 Metrics Total Revenue Growth YoY $18.9 $24.8 31% RECURRING REVENUE Gross Profit $10.0 $11.9 $9.1M Gross Margin % 53% 48% Adjusted Gross Margin % 57% 55% 37% OF TOTAL Operating Expenses $26.2 $28.8 Change i
Slide 13: Analysis at the speed of life
Analysis at the speed of life 7<~ 908devices
Slide 14: 2025 Guidance
2025 Guidance (As of 8/5/25) HANDHELD PRODUCT & SERVICE 2024 2025 Guidance 2026 Expectations MX Mass Spec & RW FTIR(1) Revenue [Reported] $44.5M(2) $52M to $54M GROWTH CATALYSTS Return to Low Double-Digit Growth (Y/Y) Ex. AVCAD +17% to +21% CATALYST #1 EQUIPMENT MODERNIZATION FTIR device placement G
Slide 15: Reconciliation from Gross Profit (GAAP) to Adjusted Gross Profit
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 16: Reconciliation from Net Loss (GAAP) to Adjusted EBITDA
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