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Dec 31, 2021
T2 Biosystems Q4 2021 Earnings Report
T2 Biosystems' Q4 2021 financial results were announced, revealing a decrease in total revenue compared to the prior year period.
Key Takeaways
T2 Biosystems reported a decrease in total revenue for Q4 2021, with $7.0 million, a 10% decrease compared to the prior year period. The decrease was driven by increased sepsis test panel sales and BARDA contract activities offset by decreased COVID-19 test panel sales. The company's net loss for the quarter was $12.1 million, or $0.07 per share.
Total revenue for the fourth quarter of 2021 was $7.0 million, a decrease of 10% compared to the prior year period.
Product revenue for the fourth quarter of 2021 was $4.0 million, a decrease of 31% compared to the prior year period.
Research and contribution revenue for the fourth quarter of 2021 was $3.0 million, an increase of 52% compared to the prior year period.
Net loss for the fourth quarter of 2021 was $12.1 million or a loss of $0.07 per share.
Revenue by Segment
Forward Guidance
The Company expects full year 2022 total revenue of $28.0 to $31.0 million, including product revenue of $16.0 to $17.0 million and research and contribution revenue of $12.0 to $14.0 million. The Company expects 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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