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Sep 30, 2024
T2 Biosystems Q3 2024 Earnings Report
T2 Biosystems experienced revenue growth driven by increased sepsis test panel sales and international instrument sales.
Key Takeaways
T2 Biosystems reported a 34% increase in total revenue compared to the prior year period, driven by strong growth in T2Bacteria panel sales in the U.S. and international instrument sales. The company also highlighted recent commercial and pipeline advancements, including a distribution agreement with Cardinal Health and FDA clearance for the T2Candida Panel for pediatric patients.
Achieved third quarter total revenue of $2.0 million, a 34% increase compared to the prior year period.
Sepsis test panel revenue increased by 34% compared to the prior year period, driven by increased U.S. T2Bacteria Panel revenue.
Executed contracts for 11 T2Dx Instruments during the third quarter, including 1 in the U.S. and 10 internationally.
Net loss for the third quarter of 2024 was $10.1 million, $(0.57) per share, compared to the prior year third quarter net loss of $15.4 million, or $(3.45) per share.
Revenue by Segment
Forward Guidance
The Company expects fourth quarter 2024 total sepsis product revenue of $2.5 million to $3.5 million. This target does not include potential sales of the T2Biothreat™ Panel or the T2Lyme™ Panel.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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