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Jun 30, 2022
T2 Biosystems Q2 2022 Earnings Report
Reported a decrease in total revenue and product revenue, but an increase in contribution revenue, driven by lower sales of T2SARS-CoV-2 tests and increased BARDA contract activity.
Key Takeaways
T2 Biosystems announced financial results for the second quarter ended June 30, 2022, with total revenue of $5.9 million, a decrease of 12% compared to the prior year period. The company executed contracts for 12 T2Dx Instruments, a 300% increase compared to the prior year period. Net loss for the quarter was $18.0 million, or $0.10 per share.
Total revenue for the second quarter of 2022 was $5.9 million, a decrease of 12% compared to the prior year period.
Executed contracts for 12 T2Dx Instruments during the second quarter, a 300% increase compared to the prior year period.
Generated core sepsis test revenue of $1.2 million during the second quarter, a decrease of 3% compared to the prior year period.
Net loss for the second quarter of 2022 was $18.0 million, $0.10 per share, compared to a net loss of $12.5 million, $0.08 per share, in the prior year period.
Revenue by Segment
Forward Guidance
The Company continues to expect full year 2022 total revenue of $28.0 to $31.0 million, including product revenue of $16.0 to $17.0 million and research contribution revenue of $12.0 to $14.0 million. The Company continues to expect to close 60 to 70 T2Dx Instrument contracts in 2022 and COVID-19 revenue to decrease from $9.5 to $3.5 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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