Burlington, Mass. — 908 Devices reported a 23% increase in second-quarter revenue and raised the low end of its full-year 2026 revenue outlook as demand for its handheld chemical analysis products continued to grow.
Revenue for the quarter ended June 30, 2026, rose to $16.1 million from a year earlier, driven by higher sales of the company’s VipIR product and the addition of revenue from NIRLab.
Recurring revenue totaled $4.9 million, representing 31% of quarterly revenue.
The company reported a net loss from continuing operations of $11.9 million, compared with a loss of $12.9 million in the same period last year. Adjusted EBITDA loss narrowed to $1.9 million from $3.9 million.
Gross profit increased to $8.3 million from $6.4 million, while GAAP gross margin improved to 52% from 49%. Adjusted gross margin rose to 57% from 56%.
“We delivered another strong quarter, growing revenue 23% year-over-year, while narrowing our Adjusted EBITDA loss by more than half compared to a year ago,” said Kevin J. Knopp, CEO and Co-Founder of 908 Devices.
Knopp said U.S. state and local customers accounted for more than half of the company’s revenue as agencies continued to upgrade equipment used to address chemical threats and hazards.
908 Devices shipped more than 35 VipIR chemical identification devices during the quarter, including 18 units to a major law enforcement agency in South Asia. The company has now shipped more than 100 VipIR units since the product was launched.
The company also recently introduced NIRLab to the U.S. market following its acquisition of NIRLAB SA. In the first 60 days after the deal closed, 908 Devices said it engaged with hundreds of potential customers across more than 30 agencies.
The company’s installed base increased 23% year over year to 4,101 devices, with 198 devices placed during the second quarter.
Operating expenses were $21.2 million, compared with $21.5 million a year earlier.
908 Devices ended the quarter with $101.5 million in cash, cash equivalents and marketable securities and no outstanding debt. During the quarter, the company used $13.5 million for its acquisition of NIRLAB SA.
Following the end of the quarter, 908 Devices secured a $6 million order for its ProtectIR products from a corrections agency in the Asia-Pacific region.
The company raised the low end of its full-year 2026 revenue guidance and now expects revenue of $68 million to $70 million, compared with its previous forecast of $67 million to $70 million.
The updated outlook represents expected year-over-year revenue growth of 21% to 25%.
