908 Devices Inc. (MASS) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.740 local channel for the first nine months represented 47% of total revenues. 00:00:05.740 -- 00:00:11.128 Growth in this channel and in our recurring revenues are key parts of our strategy 00:00:11.128 -- 00:00:16.556 to enhance predictability as this is more run rate business versus large enterprise device 00:00:16.556 -- 00:00:19.357 deals, which can be lumpy. 00:00:19.521 -- 00:00:24.869 We also made excellent progress towards our adjusted EBITDA target for 2025. 00:00:24.869 -- 00:00:29.955 Our adjusted EBITDA loss was just 1.8 million for the third quarter, An improvement 00:00:29.955 -- 00:00:35.061 of more than $5 million year over year compared to our previous disclosed adjusted EBITDA 00:00:35.061 -- 00:00:37.043 for Q3 2024 00:00:37.043 -- 00:00:39.486 prior to our transformation. 00:00:39.486 -- 00:00:45.292 And importantly, the adjusted EBITDA loss reduced by 53% quarter over quarter. 00:00:45.292 -- 00:00:49.898 I'd like to thank our team for their tremendous effort over the past few months as we 00:00:49.898 -- 00:00:54.944 realized these savings. This is our lowest adjusted EBITDA loss in our public company's 00:00:54.944 -- 00:00:59.599 history. demonstrating that the structural changes are working and providing a solid 00:00:59.599 -- 00:01:05.765 foundation for achieving our goal of becoming adjusted EBITDA positive in Q4. 00:01:05.765 -- 00:01:10.429 Overall, I'm pleased with our execution this quarter as we continue to build momentum 00:01:10.429 -- 00:01:14.211 towards our growth and profitability goals. 00:01:14.453 -- 00:01:19.918 While our transform strategy is taking hold and our Q4 pipeline remains healthy, we continue 00:01:19.918 -- 00:01:22.220 to gauge the effects from the protracted U.S. 00:01:22.220 --...