NASDAQ$TTOO
T2 Biosystems Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Achieved record quarterly sepsis test panel orders and received FDA Breakthrough Device Designation for Candida auris test
T2 Biosystems reported a decrease in total revenue for Q2 2023, primarily due to reduced BARDA contribution revenues, but achieved record quarterly sepsis test panel orders and secured the second largest sepsis-driven instrument order in company history.
- Total revenue for the second quarter was $2.0 million, a 67% decrease compared to the prior year period, primarily due to a $3.4 million reduction in BARDA research contribution revenues.
- Sepsis test panel revenue was $1.3 million, representing an increase of 7% compared to the prior year period, despite ending the quarter with a $350 thousand sepsis test backorder.
- Executed contracts for 11 T2Dx Instruments during the second quarter, including 4 in the U.S. and 7 internationally.
- Cash and cash equivalents totaled $16.1 million as of June 30, 2023, and the Company raised an additional $10.9 million in net proceeds through ATM sales during the third quarter.
Headline financials
Revenue & EPS history
T2 Biosystems · Revenue · Quarterly
$1.96M
Revenue by segment
T2 Biosystems · $1.96M total across 1 segment · Q2 2023
- Product Revenue$1.96M-23.3%100.0%
Forward guidance
The Company now expects full year total sepsis and related product revenue of $9.5 million to $10.5 million, representing growth of 13% to 25%, compared to 2022.
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 Q2 2023
-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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