908 Devices (MASS) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

908 Devices

NasdaqGM•Healthcare•Medical Devices

$10.05+0.01(<0.01%)Market closed

Market Cap

$397.27M

P/S

6.5x

P/B

3.1x

908 Devices Inc. provides purpose-built handheld mass spectrometry and fourier transform infrared (FTIR) devices for use in vital health and safety applications. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; XplorIR, a handheld device that uses FTIR spectroscopy to identify, quantify, and track gases and vapors; ThreatID, a portable FTIR device that rapidly detects and identifies approximately 28,000 unknown gas, vapor, powder, and liquid chemical hazards; ProtectIR, a handheld FTIR device that can identify approximately 23,000 solid and liquid chemical hazards; and VipIR, a handheld 3-in-1 analyzer that integrates FTIR, Raman spectroscopy, and smart spectral processing (SSP), a proprietary algorithm, to provide a single result from just one sample. It operates in the United States, Europe, the Middle East, Africa, the Asia Pacific, and rest of Americas. The company was incorporated in 2012 and is headquartered in Burlington, Massachusetts.

How this company scores

AverageMetricSide Score: 44/100

Strongest: Balance Sheet & Red Flags (15/25); weakest: Growth (8/25).

Profitability9/25

Growth8/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality12/25

Strengths

Interest easily coveredNet cash positionImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 9.7x5y range 9.7x – 9.7x

P/S · 6.5x5y range 1.2x – 17.9x

Currently above its 19-quarter median.

P/B · 3.1x5y range 0.6x – 7.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 5 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $397.27M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $60.84M
Q. Revenue: $16.07M
TTM EBITDA: $-32.16M
TTM Op. Income: $-38.93M
Q. Op. Income: $-12.81M
TTM Net Income: $-34.66M
Q. Net Income: $-11.89M
EPS: $-0.32
Shares Out.: $37.73M

$60.84M in TTM revenue grew 0.7% YoY, reaching $16.07M last quarter. TTM EBITDA of $-32.16M and TTM operating income of $-38.93M show growth is flowing through to the bottom line. However, net income is negative at $34.66M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 51.9%
EBITDA Margin: -71.2%
Op. Margin: -79.7%
Net Margin: -74.0%

Op. margin of -79.7% is up 36.6% YoY — cost efficiency is improving. Net margin at -74.0% and gross margin of 51.9% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 31% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 6.5x
P/B Ratio: 3.1x

P/S of 6.5x and P/B of 3.1x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $197.54M
Cash: $63.02M
Long-Term Debt: N/A
Book Value: $126.77M
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $3.17M
TTM Free Cash Flow: $615,000
FCF Margin: 1.0%
FCF / Net Income: -0.0

TTM FCF of $615,000 on $3.17M in operating cash flow. The FCF / Net Income ratio of -0.0x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has risen for 5 consecutive quarters — an improving trend.