Long-Term Debt	9 Months Ended
Sep. 30, 2026
Long-Term Debt
Long-Term Debt	10. Long-Term Debt Loan Revolver On March 5, 2026, the Company entered into a Default Waiver and Second Amendment to Loan and Security Agreement (the “Amended 2026 Revolver”) by and between the Company, as borrower, and Silicon Valley Bank, a division of First-Citizens Bank & Trust Company (“SVB”), as lender. The Amended 2026 Revolver provides for a revolving line of credit of up to $20.0 million. The Amended 2026 Revolver supersedes and replaces the Loan and Security Agreement dated November 2, 2022 by and between the Company and SVB, as amended by that certain Default Waiver and First Amendment to Loan and Security Agreement dated August 4, 2023 (the “Amended 2022 Revolver”) and its extension upon the execution of the Amended 2026 Revolver. The Company is permitted to make interest-only payments on the revolving line of credit through March 5, 2028, at which time all outstanding indebtedness shall be immediately due and payable. The outstanding principal amount of any advance shall accrue interest at a floating rate per annum equal to the greater of (i) six percent (6.00%) or (ii) the “prime rate” as published in The Wall Street Journal. The Company’s obligations under the Amended 2026 Revolver are secured by substantially all of the Company’s assets, excluding its intellectual property, which is subject to a negative pledge. The Company capitalized $0.1 million of the debt issuance cost upon entering into the Amended 2026 Revolver and no balance is drawn from the revolving line of credit as of September 30, 2026. The Amended 2026 Revolver contains certain financial covenants. When no advances are outstanding, the Company and its subsidiary, 908 Devices Securities Corporation, must maintain, on a consolidated basis, at least the following amounts in their collateral accounts with SVB: (i) $45.0 million from April 4, 2026 through September 29, 2026; (ii) the greater of $45.0 million or 45% of the Company’s total cash from September 30, 2026 through December 30, 2026; and (iii) the greater of $50.0 million or 50% of the Company’s total cash from and after December 31, 2026. If any advances are outstanding, the Company must also keep deposits with SVB, as part of that minimum, equal to at least 100% of the outstanding advances. In addition, immediately before each advance and at all times while any advances are outstanding, the Company must maintain an adjusted quick ratio of at least 1.75 to 1.00, certified to SVB monthly. As of September 30, 2026, the Company was in compliance with all financial covenants under the Amended 2026 Revolver.

Long-Term Debt

9 Months Ended

Sep. 30, 2026

10. Long-Term Debt

Loan Revolver

On March 5, 2026, the Company entered into a Default Waiver and Second Amendment to Loan and Security Agreement (the “Amended 2026 Revolver”) by and between the Company, as borrower, and Silicon Valley Bank, a division of First-Citizens Bank & Trust Company (“SVB”), as lender. The Amended 2026 Revolver provides for a revolving line of credit of up to $20.0 million. The Amended 2026 Revolver supersedes and replaces the Loan and Security Agreement dated November 2, 2022 by and between the Company and SVB, as amended by that certain Default Waiver and First Amendment to Loan and Security Agreement dated August 4, 2023 (the “Amended 2022 Revolver”) and its extension upon the execution of the Amended 2026 Revolver. The Company is permitted to make interest-only payments on the revolving line of credit through March 5, 2028, at which time all outstanding indebtedness shall be immediately due and payable. The outstanding principal amount of any advance shall accrue interest at a floating rate per annum equal to the greater of (i) six percent (6.00%) or (ii) the “prime rate” as published in The Wall Street Journal. The Company’s obligations under the Amended 2026 Revolver are secured by substantially all of the Company’s assets, excluding its intellectual property, which is subject to a negative pledge. The Company capitalized $0.1 million of the debt issuance cost upon entering into the Amended 2026 Revolver and no balance is drawn from the revolving line of credit as of September 30, 2026.

The Amended 2026 Revolver contains certain financial covenants. When no advances are outstanding, the Company and its subsidiary, 908 Devices Securities Corporation, must maintain, on a consolidated basis, at least the following amounts in their collateral accounts with SVB: (i) $45.0 million from April 4, 2026 through September 29, 2026; (ii) the greater of $45.0 million or 45% of the Company’s total cash from September 30, 2026 through December 30, 2026; and (iii) the greater of $50.0 million or 50% of the Company’s total cash from and after December 31, 2026. If any advances are outstanding, the Company must also keep deposits with SVB, as part of that minimum, equal to at least 100% of the outstanding advances. In addition, immediately before each advance and at all times while any advances are outstanding, the Company must maintain an adjusted quick ratio of at least 1.75 to 1.00, certified to SVB monthly. As of September 30, 2026, the Company was in compliance with all financial covenants under the Amended 2026 Revolver.