908 Devices Inc. (NASDAQ:MASS) Q2 2024 Earnings Conference Call August 6, 2024 8:30 AM ET

Company Participants

Kelly Gura - Investor Relations
Kevin Knopp - Co-Founder & Chief Executive Officer
Joe Griffith - Chief Financial Officer

Conference Call Participants

Steven Mah - TD Cowen
Matt Larew - William Blair
Puneet Souda - Leerink Partners

Operator

Hello, and welcome to the 908 Devices Second Quarter 2024 Financial Results Conference Call. My name is Elliot, and I'll be the operator for your call today. [Operator Instructions]

I would now like to hand over to Kelly Gura, Investor Relations. Please go ahead.

Kelly Gura

Thank you. This morning, 908 Devices released financial results for the second quarter ended June 30, 2024. 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 email 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, our commentary today will include the presentation of some non-GAAP financial measures. These measures should be considered as a supplement to and not a substitute for GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures can be found in today's earnings press release, which is available in the Investor Relations section of our website.

Additionally, 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, 2023, 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, August 6, 2024.

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

Kevin Knopp

Thanks, Kelly. Good morning, and thank you for joining our second quarter 2024 earnings call. We delivered solid execution on a multitude of fronts in the quarter, and we ended the second quarter with revenue of $14 million, representing 16% growth year-over-year. This included $3.1 million of revenue from RedWave Technology, which we acquired on April 29. We are excited to add RedWave devices for both chemical identification to our commercial engine, complementing our handheld MX 908 mass spec for trace chemical detection.