24/7 Market News Snapshot 14 January, 2025 – 908 Devices Inc. Common Stock (NASDAQ:MASS)

January 14, 2025

DENVER, Colo., 14 January, 2025 (247marketnews.com) – (NASDAQ:MASS) are discussed in this article.
908 Devices Inc. has exhibited strong bullish momentum, opening at $2.02 and currently trading at $2.373, reflecting an impressive increase of approximately 18.06%. The trading volume reached 744.86K, emphasizing heightened investor interest and potential for continued upward movement. Investors are advised to monitor key resistance levels around $2.40 and $2.50, while support indicators can be found near $2.20. This bullish trend may suggest a revival of investor confidence in the company.

In addition to its market performance, 908 Devices is excited to unveil its preliminary unaudited financial results for the fourth quarter and full year ending December 31, 2024. The company projects fourth-quarter revenue to reach approximately $17.2 million, marking a remarkable 20% increase over the $14.4 million reported in the same period last year. This growth reflects solid demand across both its handheld and desktop product portfolio.

For the full year of 2024, preliminary revenue is anticipated to be around $58.0 million, up from $50.2 million in 2023, representing a 15% annual growth that aligns closely with the upper range of the company’s revenue forecast. Significantly, revenue originating from the recently acquired RedWave Technology is expected to deliver meaningful pro-forma growth, reaching approximately $11 million as targeted post-acquisition.

Kevin J. Knopp, CEO and Co-founder of 908 Devices, expressed satisfaction with the business momentum, especially in the handheld device segment, reinforcing confidence in the growth trajectory of their expanded portfolio. As of the quarter’s end, the company reported cash, cash equivalents, and marketable securities totaling approximately $69.5 million, putting it in a robust position to drive future innovations. Further financial disclosures and insights will be shared in a detailed report later this quarter.

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