Q4 revenue $14.4M (+23% YoY); net loss $7.4M; FY 2024 guidance $52-54M

Revenue was $50.2 million for the year ended December 31, 2023, a 7% increase over the prior year period. This was primarily driven by a $8.3 million increase in handheld revenues, offset by a $3.0 million decrease in desktop revenues and a $2.0 million decrease in contract revenues. Gross profit was $25.3 million for 2023, compared to $26.0 million for the corresponding prior year period. Gross margin was 50% as compared to 56% for the corresponding prior year period. Operating expenses were $68.1 million for 2023, compared to $61.4 million for the corresponding prior year period. Net loss was $36.4 million for 2023, compared to $33.6 million for the corresponding prior year period. Net loss per share was $1.13 for 2023, compared to a net loss per share of $1.07 for the corresponding prior year period.

Revenue was $14.4 million for the three months ended December 31, 2023, a 23% increase over the prior year period. This was primarily driven by an increase in handheld devices revenue. The installed base grew to 2,853 devices with 139 devices placed during the fourth quarter 2023. Recurring revenue represented 33% of total revenues in the quarter. Gross profit was $7.3 million for the fourth quarter of 2023, compared to $5.9 million for the corresponding prior year period. Gross margin was 51% as compared to 51% for the corresponding prior year period. Operating expenses were $17.0 million for the fourth quarter of 2023, compared to $16.3 million for the corresponding prior year period. This increase was driven by stock-based compensation and an increase in commission expenses related to handheld revenues, offset in part by a reduction in general operating costs. Net loss was $7.4 million for the fourth quarter of 2023, narrowing from $9.8 million for the corresponding prior year perio

2024 Guidance 908 Devices expects full year 2024 revenue to be in the range of $52.0 million to $54.0 million, representing 4% to 8% growth over full year 2023.