NASDAQ$TTOO
T2 Biosystems Inc · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
T2 Biosystems' first quarter performance was reviewed with revenue increasing due to sepsis and COVID-19 test sales, and progress was made across three corporate priorities.
T2 Biosystems reported a strong first quarter with a 173% increase in total revenue and a 345% increase in product revenue compared to the prior year period. The company is focused on accelerating sales, enhancing operations, and advancing its pipeline, with sepsis test sales showing significant growth.
- Total revenue increased by 173% to $7.0 million compared to the prior year period.
- Product revenue increased by 345% to $4.7 million, driven by increased sepsis and COVID-19 test sales.
- Annualized sepsis test utilization increased to $111,000 per instrument, up 85% year-over-year and 32% sequentially.
- The company is on track to close at least 30 T2Dx Instrument contracts during 2021.
Headline financials
Revenue & EPS history
T2 Biosystems · Revenue · Quarterly
$6.96M
Revenue by segment
T2 Biosystems · $4.7M total across 1 segment · Q1 2021
- Product Revenue$4.7M+349.8%100.0%
Forward guidance
T2 Biosystems expects total revenue for the full year 2021 to be between $24.0 million and $26.0 million, including product revenues of $16.0 million to $18.0 million and research and contribution revenues of $8.0 million. The company also expects to close at least 30 T2Dx Instrument contracts in 2021.
Tailwinds
- Increased access to hospital personnel is anticipated as the year progresses, especially in the second half.
- Greater opportunity to sell new T2Dx Instruments for sepsis testing.
- Opportunity to add sepsis test panels to customers currently utilizing only the T2SARS-CoV-2 Panel.
- Opportunity to drive broader adoption of sepsis test panels in legacy sepsis accounts.
- 70% of 2021 T2Dx Instrument sales are expected to occur in the second half of the year, primarily for sepsis testing.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
-6.3%
Avg return
Earnings day
-4.9%
Avg return
5 days after
-7.0%
Avg return
30 days after
32%
14 / 44 earnings
Positive
+24.0%
Q2 2023
Best reaction
-59.4%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2025 | +0.8% | -8.3% | -8.3% | |
| Q4 2024 | -1.4% | -8.4% | -12.0% | |
| Q3 2024 | -9.3% | -11.9% | -33.4% | |
| Q2 2024 | -3.9% | -3.9% | -34.0% | |
| Q1 2024 | -12.9% | -0.7% | +24.7% | |
| Q4 2023 | -1.3% | -11.4% | -32.9% | |
| Q3 2023 | -5.4% | -11.4% | -15.7% | |
| Q2 2023 | +24.0% | +35.2% | +20.4% | |
| Q1 2023 | -59.4% | -66.5% | -73.9% | |
| Q4 2022 | -0.2% | -2.6% | -24.7% | |
| Q3 2022 | +8.0% | +15.3% | -15.9% | |
| Q2 2022 | -16.1% | -31.5% | -39.5% | |
| Q1 2022 | -22.9% | -37.7% | -51.0% | |
| Q4 2021 | +0.9% | -2.2% | -2.7% | |
| Q3 2021 | -3.1% | -5.2% | -35.2% | |
| Q2 2021 | -13.2% | -13.2% | -23.8% | |
| Q1 2021 | -5.6% | -8.0% | +0.8% | |
| Q4 2020 | -21.2% | +39.0% | +5.5% | |
| Q3 2020 | -3.0% | -11.9% | -14.8% | |
| Q2 2020 | -24.3% | -29.5% | -37.6% | |
| Q1 2020 | -9.6% | -11.8% | +103.1% | |
| Q4 2019 | -19.2% | +62.6% | +37.1% | |
| Q3 2019 | -37.4% | -34.8% | -57.0% | |
| Q2 2019 | -59.3% | -58.0% | +3.4% | |
| Q1 2019 | +12.8% | +10.4% | -22.0% | |
| Q4 2018 | -19.6% | -16.9% | -15.6% | |
| Q3 2018 | +11.2% | -2.1% | -15.4% | |
| Q2 2018 | -5.5% | +9.0% | +15.2% | |
| Q1 2018 | +11.5% | +17.9% | +36.5% | |
| Q4 2017 | -2.7% | -6.5% | +6.1% | |
| Q3 2017 | +9.2% | +8.6% | +7.3% | |
| Q2 2017 | +13.7% | +13.0% | +66.0% | |
| Q1 2017 | -16.2% | -16.0% | -21.5% | |
| Q4 2016 | -3.4% | +3.9% | +3.6% | |
| Q3 2016 | -8.7% | -11.7% | -13.6% | |
| Q2 2016 | +8.0% | +32.2% | +17.3% | |
| Q1 2016 | -0.9% | — | — | |
| Q4 2015 | +0.7% | — | — | |
| Q3 2015 | -0.4% | — | — | |
| Q2 2015 | +4.5% | — | — | |
| Q1 2015 | +5.2% | — | — | |
| Q4 2014 | -0.6% | — | — | |
| Q3 2014 | -7.9% | — | — | |
| Q2 2014 | +5.0% | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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