The company maintains a healthy liquidity position with a current ratio of 3.58, though the balance sheet is pressured by $35.7 million in goodwill and accumulated losses reflected in retained earnings of -$235.3 million.
| Total Current Assets | 142.01M | 144.56M | 103.06M | 173.79M | 215.63M | 252.89M | 170.97M | 28.58M | 17.2M |
| Cash & Short-Term Investments | 111.74M | 112.97M | 69.6M | 145.68M | 188.42M | 224.07M | 159.23M | 17.91M | 7.07M |
| Cash Only | 67.56M | 112.97M | 44.03M | 121.04M | 188.42M | 224.07M | 159.23M | 17.91M | 7.07M |
| Short-Term Investments | 44.18M | 0 | 25.57M | 24.64M | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 9.87M | 11.33M | 12.63M | 8.99M | 10.03M | 16.57M | 6.83M | 5.08M | 6.34M |
| Days Sales Outstanding | 60.62 | 73.57 | 77.29 | 65.32 | 78.16 | 143.34 | 92.63 | 103.15 | 104.86 |
| Inventory | 13.24M | 12.99M | 16.17M | 14.94M | 12.51M | 7.92M | 4.57M | 5.24M | 3.52M |
| Days Inventory Outstanding | 176.49 | 161.27 | 198.72 | 218.91 | 219.27 | 152.33 | 139.28 | 194.48 | 133.1 |
| Other Current Assets | 7.17M | 7.27M | 4.66M | 4.18M | 4.66M | 60K | 0 | 0 | 0 |
| Total Non-Current Assets | 44.68M | 45.51M | 56.42M | 29.19M | 26.96M | 8.01M | 7.86M | 9.08M | 10.54M |
| Property, Plant & Equipment | 8.35M | 8.63M | 10.33M | 9.57M | 7.04M | 6.79M | 7.14M | 8.57M | 10.01M |
| Fixed Asset Turnover | 7.41x | 6.51x | 5.77x | 5.25x | 6.66x | 6.22x | 3.77x | 2.10x | 2.20x |
| Goodwill | 0 | 0 | 0 | 10.37M | 10.05M | 0 | 0 | 0 | 0 |
| Intangible Assets | 35.68M | 36.41M | 45.26M | 7.86M | 8.49M | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 171K | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 656K | 471K | 829K | 1.22M | 1.38M | 1.23M | 723K | 511K | 531K |
| Total Assets | 186.69M | 190.07M | 159.48M | 202.98M | 242.59M | 260.91M | 178.83M | 37.66M | 27.75M |
| Asset Turnover | 0.30x | 0.30x | 0.37x | 0.25x | 0.19x | 0.16x | 0.15x | 0.48x | 0.79x |
| Asset Growth % | 13.31% | 19.18% | -21.43% | -16.33% | -7.02% | 45.9% | 374.82% | 35.73% | - |
| Total Current Liabilities | 39.66M | 34.06M | 25.15M | 22.55M | 19.23M | 14.84M | 10.83M | 6.05M | 4.76M |
| Accounts Payable | 2.42M | 8.42M | 2.06M | 1.19M | 1.4M | 1.37M | 1M | 577K | 645K |
| Days Payables Outstanding | 29.09 | 104.58 | 25.35 | 17.45 | 24.48 | 26.38 | 30.61 | 21.43 | 24.37 |
| Short-Term Debt | 700K | 16.71M | 1.86M | 2.02M | 0 | 0 | 500K | 0 | 0 |
| Deferred Revenue (Current) | 36.34M | 8.93M | 12.13M | 10.63M | 7.51M | 0 | 3.1M | 1.49M | 951K |
| Other Current Liabilities | 27.07M | 0 | 9.1M | 2.72M | 3.94M | 6.75M | 2.07M | 1.02M | 1.82M |
| Current Ratio | 3.58x | 4.24x | 4.10x | 7.71x | 11.22x | 17.05x | 15.78x | 4.72x | 3.61x |
| Quick Ratio | 3.25x | 3.86x | 3.45x | 7.04x | 10.56x | 16.51x | 15.36x | 3.86x | 2.87x |
| Cash Conversion Cycle | 208.02 | 130.26 | 250.66 | 266.78 | 272.95 | 269.29 | 201.3 | 276.2 | 213.6 |
| Total Non-Current Liabilities | 12.86M | 12.31M | 19.73M | 14.94M | 32.76M | 31.47M | 28.95M | 94.78M | 73.17M |
| Long-Term Debt | 3.77M | 0 | 0 | 0 | 15M | 15M | 14.33M | 14.77M | 9.65M |
| Capital Lease Obligations | 11.82M | 0 | 4.74M | 3.93M | 3.04M | 4.51M | 5.84M | 6.94M | 7.97M |
| Deferred Tax Liabilities | 0 | 0 | 2.03M | 2.44M | 2.67M | 0 | 0 | 0 | -8.11M |
| Other Non-Current Liabilities | 9.1M | 3.98M | 2.28M | 0 | 555K | 11.96M | 194K | 72.5M | 55.18M |
| Total Liabilities | 52.52M | 46.37M | 44.88M | 37.49M | 51.99M | 46.3M | 39.79M | 100.83M | 77.92M |
| Total Debt | 4.47M | 16.71M | 6.61M | 5.95M | 19.51M | 20.85M | 21.86M | 22.79M | 17.93M |
| Net Debt | -63.1M | -96.26M | -37.42M | -115.1M | -168.91M | -203.22M | -137.37M | 4.88M | 10.86M |
| Debt / Equity | 0.03x | 0.12x | 0.06x | 0.04x | 0.10x | 0.10x | 0.16x | - | - |
| Debt / EBITDA | -0.17x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 2.42x | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | -212.19x | -259.18x | -44.62x | -5.96x | -7.94x | -5.57x |
| Total Equity | 134.17M | 143.7M | 114.59M | 165.49M | 190.6M | 214.6M | 139.04M | -63.17M | -50.18M |
| Equity Growth % | 8.75% | 25.4% | -30.76% | -13.17% | -11.19% | 54.35% | 320.11% | -25.89% | - |
| Book Value per Share | 3.64 | 3.69 | 3.36 | 5.13 | 6.05 | 7.68 | 25.35 | -8.39 | -6.18 |
| Total Shareholders' Equity | 134.17M | 143.7M | 114.59M | 165.49M | 190.6M | 214.6M | 139.04M | -63.17M | -50.18M |
| Common Stock | 37K | 36K | 35K | 33K | 32K | 31K | 27K | 5K | 5K |
| Retained Earnings | -235.27M | -223.32M | -242.81M | -170.6M | -134.2M | -100.64M | -78.47M | -65.65M | -52.28M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 2K | 54K | 1.15M | 1.36M | 798K | 0 | 0 | 0 | -2.46M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Persistent operating cash burn
As reported in recent financial statements, 908 Devices has maintained a relatively stable total asset base of $186.7 million as of 2026Q1, though this figure masks significant quarterly fluctuations in cash and goodwill that suggest an ongoing reliance on capital deployment to sustain its current growth trajectory.
The stability in total assets appears to be a function of offsetting movements between cash consumption and periodic adjustments to intangible assets. Investors should monitor whether this asset base can support future revenue expansion without requiring further dilutive capital raises given the persistent negative retained earnings.
Based on the company's 2026Q1 filings, the current ratio of 3.58 indicates a robust liquidity buffer, providing the firm with sufficient short-term resources to navigate its ongoing operating cash burn despite the recent decline in cash reserves from the $121.0 million peak observed in 2023Q4.
While the current ratio remains healthy, the downward trend in absolute cash levels warrants close attention as the company continues to fund its R&D-heavy business model. The liquidity position appears adequate for the near term, but the lack of self-sustaining cash flow suggests that this buffer is a finite resource.
According to the provided balance sheet data, goodwill accounts for a material portion of total assets at $35.7 million as of 2026Q1, which may indicate that the company's asset quality is heavily dependent on the successful integration and performance of past strategic acquisitions.
The reliance on goodwill as a significant component of the asset base introduces potential impairment risk if the acquired technologies fail to meet commercialization expectations. This asset mix suggests an asset-light model that is nonetheless vulnerable to valuation adjustments should the underlying business units underperform.
As evidenced by the 2026Q1 financial data, the company's equity position is significantly pressured by accumulated losses, with retained earnings reaching -$235.3 million, a trend that underscores the long-term challenge of achieving profitability within the current high-cost, specialized manufacturing and R&D framework.
The persistent erosion of retained earnings highlights the difficulty the firm faces in translating its proprietary mass spectrometry technology into bottom-line growth. Investors should interpret this as a signal that the company's equity value is currently driven more by its cash-rich balance sheet than by operational earnings power.
Quick answers to the most common questions about buying MASS stock.
As of 2025, 908 Devices Inc. (MASS) had total assets of $190.1M including $144.6M in current assets.
908 Devices Inc. (MASS) carries total debt of $16.7M, offset by $113.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
908 Devices Inc. (MASS) has total shareholders' equity (book value) of $143.7M ($3.69 book value per share). Book value represents the net worth of the company belonging to common stock holders.
908 Devices Inc. (MASS) reported a current ratio of 4.24x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.