908 Devices makes handheld chemical analysis devices that let frontline workers identify unknown or dangerous substances in the field without lab equipment or scientific expertise. The flagship product, the MX908, is a handheld mass spectrometer weighing roughly 10 lbs that detects fentanyl, fentanyl analogs, explosives, and chemical agents at trace levels, delivering results in under a minute. 908 complements this with a line of FTIR-based devices — XplorIR, ThreatID, ProtectIR, and VipIR — that identify thousands of chemical hazards across gases, vapors, liquids, and solids. The core value proposition is miniaturization: 908's proprietary technology produces instruments over 1,000x smaller in volume than conventional lab instruments, making genuine field deployment possible for non-technical users. Customers are primarily government agencies — law enforcement, military, HAZMAT teams, fire departments, and customs and border protection — and 908 sells through a direct U.S. sales force and over 64 international channel partners. Revenue comes from device sales and a growing layer of recurring revenue from consumables, service contracts, software, and accessories, which reached 35% of total revenue in FY25. State and local government customers, funded through federal grant programs, are an increasingly important and more predictable revenue channel. 908 is also developing the DoD AVCAD program — a military chemical agent detector built in partnership with Smiths Detection — which could become a meaningful multi-year revenue stream at full production.