908 Devices, Inc. (NASDAQ:MASS) Q1 2022 Earnings Conference Call May 10, 2022 8:30 AM ET

Company Participants

Kelly Gura - Investor Relations

Kevin Knopp - Chief Executive Officer & Co-Founder

Joe Griffith - Chief Financial Officer

Conference Call Participants

Puneet Souda - SVB Securities

Dan Arias - Stifel

Brian Weinstein - William Blair

Operator

Good morning and thank you for standing by. Welcome to the 908 Devices' First Quarter 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Kelly Gura, Investor Relations. Please, go ahead.

Kelly Gura

Thank you. This morning, 908 Devices released financial results for the first quarter ended March 31, 2022. If you've not received this news release or if you'd like to be added to the company's distribution list, please send an e-mail to ir@908devices.com. Joining me today from 908 is Kevin Knopp, Chief Executive Officer and Co-Founder; and Joe Griffith, Chief Financial Officer. Before we begin, I'd like to remind you that management will make statements during this call that are forward-looking statements within the meaning of federal securities laws. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated.

Additional information regarding these risks and uncertainties appears in the section entitled Forward-Looking Statements in the press release 908 Devices issued today. For a more complete list and description, please see the Risk Factors section of the company's annual report on Form 10-K for the year ended December 31, 2021, and in its other filings with the Securities and Exchange Commission. Except as required by law, 908 Devices disclaims any intention or obligation to update or revise any financial projections or forward-looking statements, whether because of new information, future events or otherwise. This conference call contains time-sensitive information and is accurate only as of the live broadcast, May 10, 2022.

With that, I would like to turn the call over to Kevin.

Kevin Knopp

Thanks, Kelly. Good morning, and thank you for joining our First Quarter 2022 Earnings Call. We started the year strong with first quarter revenue growing 50% over the prior year period to $8.3 million, and we have placed 83 devices during the quarter, bringing our installed base to over 2,000 devices across our three products. I'm incredibly proud of our team's execution in managing our supply chain, strengthening our customer relationships and expanding into new accounts, all while dealing with the ongoing challenges of the pandemic. Our results are a testament to their hard work and effort as we grow our company.