908 Devices reports Q3 revenue up 17% to $16.8M, net loss $29.3M, announces 11% layoffs and manufacturing relocation

908 Devices Inc.

Revenue increased 17% year over year to $16.8 million, driven by handheld product sales.
Net loss of $29.3 million includes a $30.5 million goodwill impairment charge.
Announced 11% workforce reduction, expects annual cost savings of approximately $4.2 million starting in 2025.
Manufacturing transition from Boston to Morrisville, NC and Danbury, CT expected to generate $2.4 million annual savings from 2026.
2024 revenue guidance updated to $56-$58 million, reflecting 11%-15% growth over 2023.

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