908 Devices Inc. (MASS) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

local channel for the first nine months represented 47% of total revenues. Growth in this channel and in our recurring revenues are key parts of our strategy to enhance predictability as this is more run rate business versus large enterprise device deals, which can be lumpy. We also made excellent progress towards our adjusted EBITDA target for 2025. Our adjusted EBITDA loss was just 1.8 million for the third quarter, An improvement of more than $5 million year over year compared to our previous disclosed adjusted EBITDA for Q3 2024 prior to our transformation. And importantly, the adjusted EBITDA loss reduced by 53% quarter over quarter. I'd like to thank our team for their tremendous effort over the past few months as we realized these savings. This is our lowest adjusted EBITDA loss in our public company's history. demonstrating that the structural changes are working and providing a solid foundation for achieving our goal of becoming adjusted EBITDA positive in Q4. Overall, I'm pleased with our execution this quarter as we continue to build momentum towards our growth and profitability goals. While our transform strategy is taking hold and our Q4 pipeline remains healthy, we continue to gauge the effects from the protracted U.S. government shutdown in three areas of our business. First, demand from state and local customers remain strong, supported by multi-year federal grant programs that remain active. Second, international engagement and order flow remain solid. However, U.S. export licensing requirements may extend delivery timing in some cases. Third, while smaller federal and defense orders have continued to move forward, larger awards have experienced delays due to constrained staffing and contracting authorities. We estimate that approximately $4 million ...