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908 Devices (MASS)

908 Devices, a pioneer of purpose-built handheld and desktop mass spec devices for chemical and biomolecular analysis, today announced the U.S. Border Patrol selected the MX908® – a handheld, battery-powered, mass spectrometry device – to standardize its trace drug detection at 20 field locations across the U.S. borders, from North to South and in the Caribbean. The U.S. Border Patrol purchased more than 60 MX908 units, which are designed for rapid analysis of vapor, liquid and solid materials of unknown identity, to prevent drug smuggling and to work with local and state law enforcement in support of its counter drug mission.

Company profile

MASS stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

9 Aug 22
16 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 213.17M 213.17M 213.17M 213.17M 213.17M 213.17M
Cash burn (monthly) 3.34M (no burn) 2.79M 2.22M 3.47M 1.92M
Cash used (since last report) 5.28M n/a 4.42M 3.52M 5.49M 3.04M
Cash remaining 207.88M n/a 208.75M 209.64M 207.67M 210.13M
Runway (months of cash) 62.3 n/a 74.8 94.2 59.8 109.5

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Aug 22 Kevin J. Knopp Common Stock, par value $0.001 Sell Dispose S No Yes 25.17 286 7.2K 590,642
5 Aug 22 Kevin J. Knopp Common Stock, par value $0.001 Sell Dispose S No Yes 25.32 25,910 656.04K 590,928
4 Aug 22 Joseph H. IV Griffith Common Stock, par value $0.001 Sell Dispose S No Yes 24.39 12,733 310.56K 91,580
4 Aug 22 Joseph H. IV Griffith Common Stock, par value $0.001 Option exercise Acquire M No No 0.96 12,733 12.22K 104,313
4 Aug 22 Joseph H. IV Griffith Stock Option (option to buy) Common Stock, par value $0.001 Option exercise Dispose M No No 0.96 12,733 12.22K 0
3 Aug 22 Joseph H. IV Griffith Common Stock, par value $0.001 Sell Dispose S No Yes 24.29 600 14.57K 91,580
3 Aug 22 Joseph H. IV Griffith Common Stock, par value $0.001 Option exercise Acquire M No No 0.96 600 576 92,180
3 Aug 22 Joseph H. IV Griffith Stock Option (option to buy) Common Stock, par value $0.001 Option exercise Dispose M No No 0.96 600 576 12,733
2 Aug 22 Michael S. Turner Common Stock, par value $0.001 Sell Dispose S No Yes 23.96 10,000 239.6K 0
2 Aug 22 Michael S. Turner Common Stock, par value $0.001 Option exercise Acquire M No No 7.91 10,000 79.1K 10,000
82.1% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 88 90 -2.2%
Opened positions 19 10 +90.0%
Closed positions 21 12 +75.0%
Increased positions 30 50 -40.0%
Reduced positions 23 17 +35.3%
13F shares Current Prev Q Change
Total value 531.91M 638.42M -16.7%
Total shares 25.95M 24.74M +4.9%
Total puts 0 10.4K EXIT
Total calls 416.3K 86.2K +382.9%
Total put/call ratio 0.1
Largest owners Shares Value Change
Arch Venture Fund VII 5.73M $148.11M 0.0%
BLK Blackrock 3.7M $70.32M -0.3%
ARK Investment Management 3.48M $66.21M +16.2%
Eventide Asset Managment 1.41M $26.8M 0.0%
Vanguard 891.02K $16.94M +6.3%
Granahan Investment Management 852.71K $16.21M +7.2%
Millennium Management 752.43K $14.3M +80.0%
Fred Alger Management 727.17K $13.82M +21.0%
Iron Triangle Partners 713.11K $13.56M NEW
Platinum Investment Management 626.37K $11.91M +26.5%
Largest transactions Shares Bought/sold Change
Iron Triangle Partners 713.11K +713.11K NEW
ARK Investment Management 3.48M +486.53K +16.2%
Casdin Capital 0 -406.5K EXIT
FMR 573 -351.53K -99.8%
AMP Ameriprise Financial 0 -344.58K EXIT
Millennium Management 752.43K +334.52K +80.0%
Nicholas Investment Partners 552.8K +242.97K +78.4%
Eversept Partners 217.15K +217.15K NEW
Parkman Healthcare Partners 175K +175K NEW
Opaleye Management 166.41K +166.41K NEW

Financial report summary

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Management Discussion
  • Product and service revenue increased by $2.7 million, or 34%, for the three months ended June 30, 2022, compared to the three months ended June 30, 2021. Device sales accounted for 73% and 78% of our product and service revenue for the three months
  • ended June 30, 2022 and 2021, respectively. The increase in device sales of $1.6 million was primarily due to an increase of $1.1 million in device sales related to our handheld products primarily driven by an increase in state and local placements in the United States as a result of funding to address detection capabilities with the opioid epidemic. The increase in device sales was also due to an increase of $0.5 million in desktop device sales, primarily related to a two unit increase in Rebel devices and a higher average selling price for desktop devices based upon distributor mix and annual list price increases. Consumables and service revenue increased by $1.1 million primarily due to a $0.8 million increase in service revenue.
  • Product and service cost of revenue increased by $0.5 million, or 13%, for the three months ended June 30, 2022, compared to the three months ended June 30, 2021. The increase in product and service cost of revenue was primarily related to $0.3 million in costs from higher product volume, a $0.2 million increase in salaries and related costs, and a $0.1 million increase in stock-based compensation offset in part by timing of the capitalization of labor and overhead from the build of devices within the quarter.

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New words: August, Braunschweig, distributor, epidemic, feet, German, Germany, GmbH, half, July, list, Morrisville, NC, preliminary, rentable, sampling, square, standup, tangible, trace, twenty
Removed: consulting, obtaining, pursue