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Mar 31, 2024
T2 Biosystems Q1 2024 Earnings Report
Achieved double-digit growth in sepsis product revenue and reduced debt by approximately 80% compared to the prior year period.
Key Takeaways
T2 Biosystems reported a 25% increase in sepsis product revenue compared to the prior year period. They have also reduced their debt by approximately 80%.
Achieved first quarter 2024 sepsis product revenue of $2.1 million, representing growth of 25% compared to the prior year period.
Executed contracts for 8 T2Dx® Instruments during the first quarter, including 5 T2Dx Instruments from outside the U.S. and 3 T2Dx Instruments from the U.S.
Strengthened balance sheet by converting $30.0 million of term loan debt, reducing total debt and quarterly interest payments by approximately 80%.
Cash and cash equivalents totaled $6.2 million as of March 31, 2024.
Forward Guidance
The Company continues to expect full year 2024 total sepsis product revenue of $10.0 million to $11.0 million, representing growth of 49% to 64%, compared to $6.7 million in 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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