MASS (908 Devices) Operating Income: $-23.65 Mil (TTM As of Mar. 2026)


MASS 908 Devices Inc MASS
70 GF Score
Price $8.68
GF Value $6.96
Valuation Modestly Overvalued
! 8 Warning Signs
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What is 908 Devices Operating Income?

908 Devices MASS -2.19% 70 Operating Income is $-23.65 Mil as of Mar. 2026. GuruFocus rates MASS with a GF Score™ of 70/100 and a GF Value™ of $6.96 (Modestly Overvalued). The stock has 8 warning signs investors should review.

908 Devices's Operating Income for the three months ended in Mar. 2026 was $-6.50 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $-23.65 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. 908 Devices's Operating Income for the three months ended in Mar. 2026 was $-6.50 Mil. 908 Devices's Revenue for the three months ended in Mar. 2026 was $13.38 Mil. Therefore, 908 Devices's Operating Margin % for the quarter that ended in Mar. 2026 was -48.60%.

Warning Sign:

908 Devices Inc operating margin has been in a 5-year decline. The average rate of decline per year is -13.4%.

908 Devices's 5-Year average Growth Rate for Operating Margin % was -13.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. 908 Devices's annualized ROC % for the quarter that ended in Mar. 2026 was -33.94%. 908 Devices's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -169.50%.


908 Devices  (NAS:MASS) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

908 Devices's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=-26.012 * ( 1 - 0% )/( (76.029 + 77.257)/ 2 )
=-26.012/76.643
=-33.94 %

where

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

908 Devices's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-26.012/( ( (8.629 + max(-1.794, 0)) + (8.346 + max(13.718, 0)) )/ 2 )
=-26.012/( ( 8.629 + 22.064 )/ 2 )
=-26.012/15.3465
=-169.50 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(11.327 + 12.99 + 7.272) - (3.547 + 8.934 + 20.902)
=-1.794

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(9.865 + 13.24 + 7.167) - (7.084 + 9.47 + -7.105427357601E-15)
=13.718

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

908 Devices's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=-6.503/13.381
=-48.60 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


908 Devices Operating Income Related Terms


908 Devices Operating Income Historical Data

* Premium members only.

The historical data trend for 908 Devices's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

908 Devices Operating Income Chart

908 Devices Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial -22.07 -35.38 -42.65 -29.95 -25.68

908 Devices Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -8.53 -8.37 -5.62 -3.17 -6.50
MASS
70GF Score
908 Devices Inc MASS
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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908 Devices Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-23.65 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of $-23.65 Mil mean?
908 Devices (MASS) has a Operating Income of $-23.65 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on 908 Devices and its competitors.
Is 908 Devices' Operating Income too high?
908 Devices' current Operating Income is $-23.65 Mil. Overall, 908 Devices has a GF Score™ of 70/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does 908 Devices' Operating Income compare to ELMD and CATX?
908 Devices' Operating Income of $-23.65 Mil can be compared against companies in the Medical Devices & Instruments industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Medical Devices & Instruments company?
A good Operating Income depends on the Medical Devices & Instruments industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on 908 Devices and its competitors. 908 Devices's current Operating Income is $-23.65 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is 908 Devices stock overvalued right now?
Based on GuruFocus' analysis, 908 Devices (MASS) is currently considered Modestly Overvalued. The stock's GF Value™ is $6.96, compared to a current price of $8.68 — trading 24.7% above its estimated fair value. The current Operating Income is $-23.65 Mil. 908 Devices' overall GF Score™ is 70/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For 908 Devices (MASS), the current Operating Income is $-23.65 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is 908 Devices (MASS) Overvalued in 2026?

Based on GuruFocus' analysis, 908 Devices stock appears to be overvalued. The current stock price of $8.68 is trading 24.7% above its estimated GF Value™ of $6.96. GuruFocus considers 908 Devices to be Modestly Overvalued.

Key valuation signals for MASS:

  • Operating Income: $-23.65 Mil
  • GF Value™: $6.96 vs. price of $8.68 (24.7% above fair value)
  • GF Score™: 70/100 with 8 warning signs

No single metric tells the full story. See the MASS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


908 Devices Business Description

Address 44 3rd Avenue, Burlington, MA, USA, 01803
908 Devices Inc develops a suite of purpose-built handheld devices for point-of-need chemical analysis. Leveraging mass spectrometry, optical spectroscopy, analytics and machine learning technologies, the company makes devices that are smaller and more accessible than conventional laboratory instruments. Its devices, including MX908, ThreatID, XplorIR and VipIR, are used to analyze unknown materials and provide actionable answers in health, safety and defense technology applications, addressing the fentanyl and illicit drug crisis, toxic carcinogen exposure and security threats. The company reimagines mass spectrometry technology by developing smaller, lower-cost and simpler-to-operate devices compared to conventional instruments, and generates maximum revenue from the United States.
70GF Score

Get the complete analysis for MASS

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$8.68
Price
$6.96
GF Value