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Dec 31, 2022
T2 Biosystems Q4 2022 Earnings Report
T2 Biosystems reported a decrease in total revenue and product revenue compared to the prior year period, while research contribution revenues increased. The company also reported a net loss for the quarter.
Key Takeaways
T2 Biosystems announced its Q4 2022 financial results, reporting a total revenue of $5.5 million, a 21% decrease compared to the prior year period. Product revenue decreased by 45% to $2.2 million, while research contribution revenues increased by 10% to $3.3 million. The company's net loss for the quarter was $10.4 million, or $1.41 per share.
Total revenue for Q4 2022 was $5.5 million, a decrease of 21% compared to the prior year period.
Product revenue for Q4 2022 was $2.2 million, a decrease of 45% compared to the prior year period, driven by an 89% decline in COVID-19 test sales.
Research contribution revenues were $3.3 million, an increase of 10% compared to the prior year period.
Net loss for the fourth quarter of 2022 was $10.4 million, $1.41 per share.
T2 Biosystems
T2 Biosystems
T2 Biosystems Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.com Forward Guidance
The Company expects full year 2023 total sepsis and related product revenue of $11.0 million to $13.0 million, representing growth of 31% to 55%, compared to $8.4 million in 2022.
Positive Outlook
- The Company expects full year 2023 total sepsis and related product revenue of $11.0 million to $13.0 million
- Expected revenue represents growth of 31% to 55%, compared to $8.4 million in 2022.
- Focus on product revenue.
- Advanced U.S. clinical trial for the T2Resistance® Panel
- Completed the U.S. clinical trial for the T2BiothreatTM Panel, demonstrating high sensitivity and specificity exceeding target performance requirements.