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Dec 31, 2019
T2 Biosystems Q4 2019 Earnings Report
Announced financial results for the fourth quarter ended December 31, 2019.
Key Takeaways
T2 Biosystems reported a 71% increase in total revenue for Q4 2019 compared to the prior year period, with total revenue reaching $3.1 million. Product revenue increased by 18% to $1.6 million, and research revenue increased by 200% to $1.5 million. The net loss for the quarter was $14.1 million, or $0.30 per share.
Achieved fourth quarter total revenue of $3.1 million, a 71% increase year-over-year.
Product revenue for the fourth quarter was $1.6 million, an 18% increase year-over-year.
Received CE mark for the T2Resistance Panel, enabling commercialization in the European Union and other CE mark geographies.
Secured new contracts for ten T2Dx Instruments during the fourth quarter of 2019.
Revenue by Segment
Forward Guidance
Management projects revenue for the full year 2020 to range from $14.0 million to $17.0 million, including product revenue between $8.0 million and $10.0 million and research and grant contribution revenue of $6.0 million to $7.0 million. Management expects to close approximately 30 T2Dx Instrument contracts during 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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